Genezen Announces the Appointment of Steven J. Favaloro as Chief Executive Officer to Support Next Phase of Growth
BOSTON and FISHERS, Ind., March 13, 2023 /PRNewswire/ -- Genezen, a gene and cell therapy contract development and manufacturing organization (CDMO) specializing in lentiviral and retroviral vector manufacturing, today announced the appointment of Steven J. Favaloro as President and Chief Executive Officer (CEO). Favaloro brings extensive experience in gene and cell therapy, on both the innovator and CDMO side, from executive positions at Arbor Biotechnologies, Arranta Bio, and Brammer Bio.
Genezen has a decade of experience in viral vector manufacturing and boasts an experienced and innovative team at the helm. In September 2022, the company completed construction on a new, cGMP multi-vector production facility in Fishers, Indiana. Majority investor, Ampersand Capital Partners, is supporting investment in further expansion that will see the addition of a future site close to the key customer hub in Boston, Massachusetts as well as additional US and international expansion in 2023 and beyond to position the company as a premier partner for gene and cell therapy innovators.
Bill Vincent, Founder and Executive Chairman of Genezen, said, "Steve's track record in the CDMO market – particularly in viral vector and cell and gene therapy companies – speaks for itself and will be extraordinarily valuable in spearheading Genezen's ambitious growth plan. We know that 2023 will be a pivotal year for the company, and with Steve's experience and vision, there is tremendous confidence that we will achieve our goal to be a leading choice of CDMO in this sector."
On his appointment as President and CEO, Favaloro said, "Genezen is at an exciting point in its journey following the recent opening of a world class GMP facility close to Indianapolis. I am excited to lead a talented group of colleagues at Genezen and to partner with customers in delivering the next generation of novel treatments. My background, having spent time in executive leadership positions on both the innovator and CDMO side, gives me a unique perspective – I look forward to partnering in this space to solve our customers' most complex manufacturing needs."
Genezen's new GMP facility was completed in September 2022 to meet growing demand from innovators conducting early-phase development of gene therapy products and seeking to rapidly advance these projects. The 75,000-square-foot facility offers a full spectrum of complementary viral vector process development capabilities to support cGMP and commercial readiness, upstream and downstream process improvements, research-grade and preclinical vector production, and analytical assay testing and validation.
Founded in Indianapolis in 2014, Genezen is focused on supporting the demands of the current and future gene and cell therapy manufacturing market worldwide—making viral vector production accessible to both early-stage, growth-oriented companies and established industry leaders. Building on the company's expansive knowledge and experience in the industry and working with the nation's leading institutions, Genezen offers early-phase process development, GMP vector production, and analytical testing services out of its cutting-edge laboratory facility, completed in late 2022. For more information or to learn more about services offered in Genezen's new cGMP facility, please visit genezen.com.
About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm's core healthcare sectors. For additional information, visit ampersandcapital.com or follow us on LinkedIn.