Illumina Ventures Adds Two New Experts as Advisors

Rhea-AI Summary

Illumina Ventures, a leading genomics and precision health venture firm, has announced the addition of two new advisors: Dr. Timothy Stenzel and Jerry Steiner. Dr. Stenzel, former director of the FDA's Office of In Vitro Diagnostics, brings extensive experience in molecular diagnostics and regulatory affairs. Jerry Steiner, former executive VP of Sustainability at Monsanto, offers deep insights into agricultural biotech and sustainability.

These appointments strengthen Illumina Ventures' expertise in navigating complex regulatory environments and identifying opportunities in sustainable agriculture through genomics. The firm aims to support innovative diagnostics companies and apply genomics to address global climate change challenges.

Positive

• Addition of two highly experienced advisors enhancing the firm's expertise
• Expanded capabilities in navigating complex regulatory environments in diagnostics
• Strengthened position to identify opportunities in sustainable agriculture through genomics

Negative

• None.

Dr. Timothy Stenzel and Jerry Steiner join as Advisors

SAN FRANCISCO--(BUSINESS WIRE)-- Illumina Ventures, a leading genomics and precision health venture firm, today announced that Timothy Stenzel, MD, PhD, and Jerry Steiner have joined the team as Advisors. Together, they bring more than 60 years of executive leadership experience in molecular diagnostics and agribusinesses, respectively.

Dr. Stenzel is the former director of the US Food and Drug Administration’s (FDA) Office of In Vitro Diagnostics and has an extensive scientific background in molecular diagnostics, genetics, oncology and infectious diseases. During his five-year tenure at the FDA, he was known for working with multiple constituencies to create solutions to secure patient access to reliable tests. Prior to his government service, Dr. Stenzel held leadership roles in both industry and academia. As the chief operating officer of Invivoscribe, he helped to launch more than 22 new products and services, including an FDA-approved companion diagnostic for Novartis’ drug Rydapt (midostaurin). While serving as the chief scientific officer of Quidel Corporation, he led the creation of their molecular diagnostics franchise, which now has more than 23 cleared products with significant revenue. Dr. Stenzel also served on the Duke University School of Medicine faculty for 21 years and founded its Clinical Molecular Diagnostics laboratory. He became board-certified in Molecular Genetics and Pathology after receiving his MD and PhD in Microbiology and Immunology from Duke.

“Tim’s depth and breadth of experience in all aspects of the diagnostics industry will be invaluable to us as we navigate an increasingly complex and changing business and regulatory environment,” said Nick Naclerio, Founding Partner at Illumina Ventures. “We remain committed to identifying and supporting the next generation of innovative diagnostics companies.”

Mr. Steiner is the former executive vice president of Sustainability and Global Corporate Affairs for Monsanto and brings a deep understanding of the opportunities and challenges associated with using genomics to make agriculture more sustainable. He was part of the team that transformed Monsanto from a chemical company to an agricultural biotech company while overcoming complex regulatory, public relations, and business model challenges. He also held roles as vice president of Product and Corporate Strategy and general manager in the US and Europe.

After leaving Monsanto, Mr. Steiner co-founded and served as the chief executive officer of CoverCress, commercializing a new winter cash crop for Midwest farmers that protects the soil, and then led its successful sale in 2022. Currently, he serves as the executive chairman of Pluton Biosciences, an Illumina Ventures portfolio company that harnesses microbes to develop sustainable solutions for agriculture and climate, as well as a number of other private companies. Earlier in his career, he was part of the leadership team at Celera Genomics.

Mr. Steiner was raised on his family’s farm in Wisconsin. He received a Master of Business Administration from Washington University in St. Louis after earning a Bachelor of Science in Agricultural Economics from the University of Wisconsin.

“Jerry brings a deep understanding of the agricultural biotech business and is helping us identify opportunities where the power of genomics can make agriculture more sustainable,” said Dr. Naclerio. “After seeing the transformative effects that genomics is having in human healthcare, we are committed to finding profitable ways to apply the same science and technology to help mitigate and adapt to challenges of global climate change.”

“We continue to add to our depth of knowledge and operational experience to improve human and planetary health with industry thought leaders like Dr. Stenzel and Mr. Steiner,” added Dr. Naclerio.

About Illumina Ventures

Illumina Ventures is an independently managed, healthcare-focused venture firm in a strategic partnership with Illumina (NASDAQ: ILMN). As an early-stage, value-add investor, Illumina Ventures helps entrepreneurs develop breakthrough science and technologies into market-leading companies to transform healthcare. The firm focuses on investment in life science tools, genomics-enabled therapeutics, molecular diagnostics, and sustainable agriculture. For more information, visit illuminaventures.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240718338203/en/

Media Contact

Valerie Enes for Illumina Ventures

408-497-8568

venes@spectrumscience.com

Source: Illumina Ventures

FAQ

Who are the new advisors joining Illumina Ventures?

Dr. Timothy Stenzel, former director of the FDA's Office of In Vitro Diagnostics, and Jerry Steiner, former executive VP of Sustainability at Monsanto, have joined Illumina Ventures as advisors.

What experience does Dr. Timothy Stenzel bring to Illumina Ventures?

Dr. Stenzel brings over 60 years of executive leadership experience in molecular diagnostics, with expertise in regulatory affairs, product development, and clinical molecular diagnostics.

How does Jerry Steiner's background benefit Illumina Ventures?

Jerry Steiner's extensive experience in agricultural biotech and sustainability helps Illumina Ventures identify opportunities to apply genomics in making agriculture more sustainable and addressing climate change challenges.

What are Illumina Ventures' goals with these new advisor appointments?

Illumina Ventures aims to improve its ability to navigate complex regulatory environments, support innovative diagnostics companies, and find profitable ways to apply genomics to mitigate and adapt to global climate change challenges.