David Allan Lauded for Leadership – Biotechnology Leader Named to Industry Award

OTTAWA, Ontario--(BUSINESS WIRE)--

David Allan, founding Chairman of YM BioSciences and its 13-year CEO is being recognized by the industry in BIOTECanadas naming him as recipient of the Gold Leaf Award for Industry Leadership. This award is given to an individual who demonstrates exemplary vision and leadership in Canadian biotechnology in a global context. He is being recognized for his commitment to promoting and supporting the growth of biotechnology in Canada.

David Allan has had an important impact on the recognition of Canadian biotechnology internationally with his unwavering commitment about the importance of international public and private capital markets as the lifeblood of the industry, commented Brad Thompson, Chair BIOTECanada. YM BioSciences has demonstrated versatility and resilience, utilizing international partnerships to offset the capital constraints faced by Canadian biotechnology companies. This is a model for many industry colleagues.

During his 17-year involvement with YM the company has enjoyed numerous "firsts" including being the first North American biotechnology company to float its IPO on the London Exchange, which occurred in 2002 simultaneously with listing on the TSX, as well, it is believed, as being the first company outside the United States to receive a Special Protocol Assessment from the FDA. Prior to YM David created the first science and technology-specific investment banking team in Canada to support the capital requirements of the biotechnology industry in the country and creating such novel biotechnology structures as Drug Royalty Corporation as well as YM BioSciences.

"I am thrilled that this 20-year commitment to the industry is being recognised by this exceptional and prestigious award. My commitment to the industry preceded my involvement with YM by being the first in Canada to import, in 1992, the model so successfully established in the United States of biotech-specific investment banks. From that experience came the recognition of the senseless chasm between the billions of dollars spent by our government-level programs supporting basic research and the low enthusiasm of Canadian venture capital funds and public capital markets in Canada to support the conversion of our scientific excellence into medicines useful for human health. I shall continue to work tirelessly, striving to eliminate the established impediments on accessing capital in Canada similarly to a prior successful engagement as Chair the Toronto Stock Exchange's Market Access Committee that created a specific framework encouraging previously unavailable financing of Small and Medium Enterprises through that exchange. I expect that my extensive experience in the management, M&A and financing of biotechnology companies will be useful as a mentor to others and I am delighted to continue broad involvement with the biotechnology industry in Canada as the Chair of YM, Executive Chair of Stem Cell Therapeutics Corp, Lead Director at DiaMedica Inc, and as Chairman of AvidBiologics Inc. in Toronto.

Join us as we celebrate industry leadership during the BIO International Convention at the Boston Convention & Exhibition Center. The Gold Leaf Awards ceremony will take place at the Canada Caf (booth number 735) June 19, 2012 in Boston, MA at 4pm.

More here:
David Allan Lauded for Leadership – Biotechnology Leader Named to Industry Award