TORONTO, Canada – September 1, 2015 – A Canadian startup company, having a proprietary Big Data Platform for drug and compound development for human applications, has hired a new chief executive with Massachusetts roots and announced plans to establish its US base in Cambridge.
Toronto-based Cyclica Inc. announced this week that it has hired Paul Angelico, Co-Founder and former President of Twin Rivers Technologies in Quincy, MA, as President and Chief Executive Officer (CEO). Cyclica’s founder Jason Mitakidis will move from the CEO post to become Chief Technology Officer.
Angelico will oversee the startup of the US entity, a wholly-owned subsidiary of Cyclica, to a space at the Cambridge Innovation Center (CIC). The CIC has partnered with the Consulate General of Canada in Boston, and Cyclica has been selected to participate in the Canadian Technology Accelerator (CTA@Boston) program for startups/ early stage companies. “Locating our US business in Cambridge, the heart of life sciences technology discovery and innovation in North America, if not the world, will give us direct access to markets and customers we will serve. We are excited about the opportunity to be one of the selected companies of the CTA@Boston, and are will benefit from the partner’s ecosystems and dedicate support from the Trade Commissioner Service” Angelico states.
The company expects to be settled in Cambridge by December 1, 2015.
Angelico brings to Cyclica more than 30 years of experience leading start-up, turn-around, and growth enterprises. Following a 17 year career at Procter & Gamble, in 1994 he co-founded and served as President of Twin Rivers, a $350 million revenue company servicing the oleo chemicals, renewable energy and food ingredients markets. He built Twin Rivers into the largest company of its kind in North America before selling the enterprise in 2009 to the Federal Land Development Agency of Malaysia.
Angelico spent 2009 to 2011 providing business turnaround, business growth, and work culture re-engineering services across multiple sectors, including the healthcare, energy, specialty chemicals and transportation sectors.
He joined Aurora Algae of California in 2011 as chief operating officer, and in 2014 was appointed as President and CEO. Aurora was a biotechnology company that was pioneering sustainable algae-derived products for health, food nutrition, and pharmaceutical markets.
“We are excited to have Paul join the company at this stage of its development. His hands on approach, operational expertise, leadership experience, and drive will help ensure Cyclica’s success,” Mitakidis said.
“Throughout his career, Paul has consistently demonstrated strong leadership-by-example principles, proven operational expertise, and experience building and growing start-up companies across multiple sectors, including biotechnology, nutraceutical, and consumer products. His state-of-the-art foundational management experience and focused strategy will help grow Cyclica’s sales and profitability.”
Dr. Kabir Jivraj, a company director, added: “Paul’s professionalism, experience, and energy complement an already strong team, and we are excited to have him on board to lead the company towards becoming the dominant market player.”
Cyclica uses big data and applied bioinformatics and systems biology techniques to increase productivity in pharmaceutical research and development. Its products provide an effective means to index biological data and search all proteins in the human body for drug-protein interactions to predict clinical effects or repurpose existing drugs and compounds, reducing the cost of development and time to market.