GeminiBio Appoints Industry Veteran Cory Stevenson as Executive Chairman

Rhea-AI Summary

On March 16, 2023, Gemini BioProducts Holding announced the appointment of Cory Stevenson as Executive Chairman of the Board of Directors. Stevenson, who joined the board in 2022, has played a vital role in the company’s strategic plans, particularly its 57,000-square-foot manufacturing expansion aimed at supporting the biopharma and cell/gene therapy sectors. Previously, he was President of the BioProduction Division at Thermo Fisher Scientific (TMO), where he significantly increased revenues from $200 million to over $2.5 billion annually. His collaboration with CEO Brian Parker positions him to effectively guide GeminiBio's growth.

Positive

• Cory Stevenson has extensive experience in the biopharma sector, enhancing leadership quality.
• Stevenson's prior success at Thermo Fisher, growing revenues significantly, could catalyze growth at GeminiBio.
• The new manufacturing facility positions GeminiBio as a key player in the biopharma supply chain.

Negative

• Potential concerns over continuity with leadership changes.
• Experience gaps could arise if new leadership does not align with existing strategies.

FORT LAUDERDALE, Fla. and Sacramento, Calif., March 16, 2023 /PRNewswire/ -- Gemini BioProducts Holding, Inc. ("GeminiBio" or the "Company"), a portfolio company of BelHealth Investment Partners, LLC ("BelHealth"), a Florida-based healthcare private equity firm, announced the appointment of Cory Stevenson as Executive Chairman of the Board of Directors.

GeminiBio Appoints Industry Veteran Cory Stevenson as Executive Chairman

Mr. Stevenson joined the Board of GeminiBio in 2022 and has been working closely with the GeminiBio management team as they prepare to complete a three-phase buildout that addresses the long-term capacity needs in the biopharma and cell/gene therapy marketplace. Previously, Mr. Stevenson served as President of the BioProduction Division of Thermo Fisher Scientific (NYSE:TMO), a world leader in serving the biopharma sector, with annual revenue of more than $40 billion. During Cory's tenure, the BioProduction business grew from $200 million in revenues to over $2.5 billion annually.

Harold S. Blue, Managing Partner of BelHealth Investment Partners said, "We are fortunate to have Cory expand his role and guide our strategy at GeminiBio. Cory has been very helpful during the last year as a board member and I am excited that he will be taking a more active role. Also, given that Cory worked directly with GeminiBio's CEO, Brian Parker, while at Thermo Fisher, this was a natural fit."

Cory Stevenson, Executive Chairman of GeminiBio added, "I am delighted to expand my role at GeminiBio after working closely with Brian and the rest of the team since I joined the Board. With the completion of its 57,000-square-foot manufacturing facilities, GeminiBio is positioning itself as a vendor delivering much-needed critical solutions to the global biopharma industry. I am looking forward to this exciting next phase at GeminiBio."

About BelHealth Investment Partners

BelHealth Investment Partners, based in Fort Lauderdale, Florida, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management, and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes will benefit from its extensive operating and private equity investment expertise. For more information, visit www.belhealth.com.

About GeminiBio

Founded in 1985, GeminiBio serves the global biotechnology industry, from basic research to commercial production, with a focus on helping our customers accelerate the development of life enhancing biotherapeutics by streamlining and improving their cell culture and process liquid manufacturing workflows. The company's products are organized into two core verticals – Cell Culture Solutions and Process Liquid Solutions. Located in West Sacramento, California, GeminiBio has 57,000 square feet of cGMP manufacturing space that is segregated between animal origin free and animal component manufacturing. GeminiBio is an ISO 13485 certified, FDA registered Class 1 Medical Device Manufacturer, aligned with 21 CFR Part 820. For more information, visit www.geminibio.com.

Contact:
BelHealth: Inder Tallur, itallur@belhealth.com
GeminiBio: bparker@geminibio.com

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SOURCE BelHealth Investment Partners

FAQ

Who is the new Executive Chairman of GeminiBio?

Cory Stevenson was appointed as the Executive Chairman of GeminiBio on March 16, 2023.

What was Cory Stevenson's role at Thermo Fisher Scientific?

Cory Stevenson served as the President of the BioProduction Division at Thermo Fisher Scientific, significantly increasing its revenues.

What is the significance of the new manufacturing facility for GeminiBio?

The new 57,000-square-foot facility will enhance GeminiBio's capacity to support the biopharma industry.

How may Cory Stevenson's appointment impact GeminiBio's strategy?

Stevenson's industry experience and prior collaboration with CEO Brian Parker are expected to positively influence GeminiBio's strategic direction.