Santa Fe biotechnology startup Nature's Toolbox is on a timely mission.
The company, founded in 2015, wants to commercialize technology that it says can help develop vaccinations and discover new pharmaceuticals. To help accomplish this goal, the company has appointed Joseph Sullivan as its new chief commercial officer.
Sullivan, who joins Nature's Toolbox founders Michael Humbert and Alexander Koglin, said he brings years of experience in pharmaceuticals, including at leading pharmaceutical company Merck & Co. Inc.
At New Jersey-based Merck & Co., one of the largest pharmaceutical companies in the world by revenue, according to Proclinical, Sullivan said he helped bridge research and commercialization efforts for vaccines. He helped get funding for about 10 such projects, he said.
Merck & Co. spokeswoman Pamela Eisele confirmed Sullivan's former employment.
Sullivan said he left Merck & Co. in 2017 and later joined IMV Inc., a Canadian company. The firm aims to improve immunotherapy for people with cancer, according to a Form 6-K filed with the Securities and Exchange Commission. Sullivan left his post as senior vice president of business development at IMV around June, according to the SEC filing.
In his new role, Sullivan will lead help commercialize Nature's Toolbox's technology, which includes the development of rapid production of vaccines. The company also offers technology that can identify "potential new drug leads," in addition to biosynthesis platforms, according to its website.
"Where we are right now with the pandemic… I think what [Nature's Toolbox] is doing in terms of focusing on improving the supply of life-saving vaccines and medicines is very critical," Sullivan said. The company can produce "high-quality material" quickly, which is beneficial for research and development, he added.
When it comes to life-saving vaccinations, time is of the essence for the public and the organizations engaged in vaccine development, which can be a lengthy process.
"If your business is making decisions today that will allow you to sell 30 months from now, it will make it very difficult to manage,” said Sullivan ,adding that the technology used by Nature's Toolbox is efficient with capital.
Sullivan said he plans to identify and form parternships to further develop existing platforms, which will hopefully lead to more business. To accommodate an anticipated increase in work, the company is in the process of expanding into a larger facility.
Nature's Toolbox employs about 15 and "could easily double" the size of its staff before the end of next year, Sullivan said.
The plans to scale up come after Nature's Toolbox posted a near $13 million funding round, which is a nominee for Business First's 2020 Deals of the Year awards. The round was reportedly led by venture capital and private equity firm Anzu Partners. It had 39 investors and was disclosed in January, according to a Form-D filed with the SEC.
