GSK appoints new head for its venture capital business

GlaxoSmithKline (GSK) has appointed Adrian Rawcliffe as managing partner and president, SR One, the company's venture-capital business, effective 1 June.

Rawcliffe succeeds Maxine Gowen, who was recently named senior vice president, Centre of Excellence for External Drug Discovery, at GSK. He served previously as vice president, Transactions and Ventures, within GSK's worldwide business development group, which focuses on developing in-licensing and partnership relationships with other companies.

'The swift appointment of a new leader with Adrian's experience and capabilities ensures a smooth transition in leadership at SR One,' said Jeff Baxter, senior vice president, Finance and Operations, GSK. 'This leadership change will appear seamless to our partners.'

During his tenure at GSK, Rawcliffe has led teams executing deals across a range of strategic transactions, including in-licenses, technology alliances, out-licenses, divestitures, joint ventures and consortia. Prior to his appointment in 2003 to his position in Transactions and Ventures, he was vice president, Genetics and Discovery Deal Structuring, in which position he led the execution of collaborations related to compounds in early-stage drug development. A chartered accountant with a Bachelor of Science in Natural Sciences, he joined GSK in 1997 from Coopers and Lybrand, where he was involved in mergers and acquisitions, forensic accounting and business-advisory activities.

GSK and SR One

GSK created SR One Ltd in 1985 to achieve financial returns while investing in companies of potential collaborative interest to GSK, largely American and European companies engaged in drug discovery and development of medicines and in the creation of tools that facilitate discovery and development. The investments vary from $500,000 to over $10m with initial investments ranging from $1m to $5m.