Jul 15, 2006
Ashton Tweed's equation for business success is that a wide network of contacts plus strong relationships delivers business value. Their expanding relationship with FMC's Health Care Venture Business is a case in point.
Ashton Tweed Partner Jordan Warshafsky was first introduced to an executive at the FMC BioPolymer division, which had developed a number of potentially viable products with life sciences applications. Through additional networking within FMC, Jordan met David Simcox, the General Manager of the Health Care Venture Business.
"At the time," says Mr. Simcox, "FMC was trying to determine what they could do with some of their technology in the field of polymers. Jordan's experience was a good fit for our needs." Jordan’s extensive operational experience within life sciences was of significant interest to FMC, as was Ashton Tweed’s Executive Talent Bank of senior executives.
"I was particularly interested in what other companies were doing and how FMC could benefit from part-time executives," says David. "FMC's health care ventures unit is researching some unique opportunities in the biomedical field. We needed experienced, senior people who had industry knowledge, which was not available in house."
According to Jose Faia, Director of Human Resources, "The interim approach allows us to get top notch experience and senior thinking people with minimum start-up time, which gives us a jump start as we venture into new areas. We have worked with Ashton Tweed to identify the areas where we need talent and are working to fill those roles."
Eric Norris, the incoming General Manager after David's retirement, says, "What has been valuable to FMC is the breadth and depth of Ashton Tweed's Executive Talent Bank. We are using them as a resource for consultants and permanent placement. We have also found that they are well recognized in the regional investment community, which has been important as we are now examining spin-out opportunities for some of our technologies."
"For Ashton Tweed, it's all about delivering real talent to our clients," says Jordan Warshafsky. "Our Executive Talent bank is founded on the premise that strong relationships lead to valuable business arrangements for our clients. The success of our relationship turned into an executive search for one of FMC’s newest businesses, NovaPedix.”
NovaPedix is being formed as a new company to develop, gain market approval (FDA clearance, insurance reimbursement, physician acceptance), and license bioresorbable alginate-based implantable medical devices. These devices are based on the unique characteristics of ultrapure alginates, including anti-adhesion, strength and ability to be optimized for orthopedic antibiotic delivery. Ashton Tweed is in the process of sourcing and recruiting a President for this group — we are seeking an executive with commercial organization management experience in the medical device market and a background in fund raising from Proof of concept through commercialization.
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