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Former ViroPharma chairman and CEO gets a new job
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- John George
- Senior Reporter- Philadelphia Business Journal
- Email | Twitter | Google+
Vincent J. Milano, the former chairman and CEO of ViroPharma, has a new job.
Idera Pharmaceutials of Cambridge, Mass., named Milano as its CEO this week — but Milano has no plans to relocate up north. Instead the company will maintain dual locations in Cambridge and Exton, Pa.
Milano said he was approached about the CEO job from an Idera board member who was also a ViroPharma investor.
"One of the criteria for me to consider taking the conversation further was that the company be co-located in Cambridge and the Philadelphia region," said Milano, who said he had no interest in relocating for professional and personal reasons. "I am committed to helping the biotech renaissance that is happening here."
Milano said Idera's board and management supported the concept.
"This will allow us to recruit talent from two great markets," he said. "With the technology that is available today, we should be able to find easy ways to work together."
Christopher Molineaux, president of the Pennsylvania Biotechnology Association, thinks the co-location idea has a lot of merit.
"I think it's an example of innovative management and it's where the industry is headed — using technology to connect resources and making geographic boundaries less relevant," Molineaux said. "It will let [Idera] hire people based on who they are and not where they are. Vince, better than most, undertstands the talent that resides here in Pennsylvania."
Milano left Exton-based ViroPharma after it was acquired by Shire (NASDAQ: SHPGY) in January for $4.2 billion.
At Idera, he succeeds Sudhir Agrawal, who will continue to lead scientific research as the company's president of research and serve on Idera's board of directors.
John George covers health care, biotech/pharmaceuticals and sports business.
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