Accomplished Biotechnology Industry Equity Analyst Will Support Firm’s Public Market Investment Initiatives
TORONTO, Ontario, June 7, 2022 — Lumira Ventures, a global healthcare venture capital firm, announced today the addition of David Novak to its investment team as a Venture Partner. Mr. Novak brings extensive capital markets, biotechnology industry, and clinical research experience having most recently served as a Managing Director at Raymond James, a large global investment dealer, where he covered North American biotechnology equities. In 2020, Mr. Novak was nominated as a “Top 40 Under 40” candidate by the Investment Industry of Canada. Additionally, he has been a leading source of biotechnology industry insights, appearing on CNBC, BNN/Bloomberg, CBC, and in various written media formats.
Commenting on Mr. Novak’s addition to the Lumira Ventures team, Peter van der Velden, Managing General Partner noted, “We have known and worked with David for over a decade, and have always appreciated the thoughtful, fundamental analytical approach he takes when evaluating biotechnology investment opportunities. Over the past several years we’ve built out our franchise investing across the continuum of capital that finances the development of innovative life sciences companies in both the private and public markets. We’ve been looking for a deeply experienced individual who could lead our expanded initiatives in the public sector portion of the ecosystem, and also be highly accretive to our existing investing activities. David is absolutely that person, and we are delighted to have him on the team.”
“Lumira is highly regarded in the healthcare community as a leading investment management firm that has consistently generated outsized returns. I have known and worked with the Lumira team for years and have always had the deepest respect and admiration for the scientific, medical, and investment talent within the firm,” said Mr. Novak.
“The pace of scientific innovation in our sector, the breadth and depth of companies that have entered the public markets in the past decade and the substantial reset in company valuations has created a generational opportunity in the biotechnology sector,” continued Mr. Novak. “Given this extraordinary market environment creating asymmetrical risk/reward opportunities, I wanted to transition to a firm that was best positioned to capitalize on this. I look forward to leveraging my capital markets experience in collaboration with Lumira to identify and support unique funds, strategies, and investment opportunities that will generate substantial alpha and have the potential to make a positive impact in patient care.”
Before making his mark as a research analyst, Mr. Novak spent a number of years working in scientific research in the biotechnology industry, developing molecular diagnostic tests for oncology indications at a publically-held company. Mr. Novak has additionally served as a clinical research scientist investigating both the hereditary predisposition to cancer as well as the experimental therapeutics which treat such cancers. His research has since culminated in multiple, high-impact publications within journals such as the New England Journal of Medicine.
Mr. Novak holds a Bachelor of Science (Molecular Biology) and a Master of Science (Human Medical Genetics) from McGill University.
About Lumira Ventures
Lumira Ventures is a North American healthcare venture capital firm with decades of experience investing in and building transformative biomedical companies. We are a multi-stage investor that partners with mission-driven entrepreneurs and like-minded investors to build innovative healthcare companies. These companies are harnessing rapidly evolving innovations in genomics, cell therapy, gene therapy, bioengineering, robotics, and artificial intelligence to develop high-impact, often transformative products for patients while generating exceptional returns for our investors and meaningful economic value to society. To date, Lumira’s companies have brought dozens of biomedical innovations to the market, impacting the lives of over 1 billion patients worldwide. Lumira Ventures manages its activities from offices in Toronto, Montréal, Vancouver, and Boston. For more information, please visit www.lumiraventures.com
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