BioTime, a biotechnology company, has appointed Peter Garcia as chief financial officer (CFO). Garcia will lead the accounting, finance, and investor relations functions and will report directly to Michael West, president and chief executive officer (CEO). Robert Peabody, who was interim CFO, will continue his role as senior vice president (SVP) and chief operating officer (COO).
Garcia has been CFO of six biotech and high-tech companies since 1996, and was instrumental in raising over US$500m and leading multiple merger and acquisition transactions for these companies. He was most recently with Marina Biotech, managing finance and investor relations efforts, as well as the corporate communications, IT and facilities functions.
From 2004 to 2008, Garcia was CFO of Nanosys, a nanotechnology company, where he led the efforts in raising the largest private nanotechnology company financing in 2005 (US$48m). From 1996 to 2004, Garcia was CFO of four Bay Area biotech companies: Nuvelo, Novacept, IntraBiotics Pharmaceuticals and Dendreon. From 1990 to 1996, he was a financial executive with Amgen Inc. during its early days of commercialising therapeutics.
Garcia graduated from Stanford University in 1983 with a BA degree in Economics and Sociology with honours. In 1985 he earned his MBA from the University of California Los Angeles with a concentration in Finance and Accounting.
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