GLSV appoints managing director(2)

The Swiss venture capital firm has made one internal promotion.

Global Life Sciences Ventures (GLSV) has promoted Stephen McCormack to managing director in its Zug office.

McCormack has been at GLSV since May 2006 and became a partner in November 2006. McCormack’s additional responsibility as a managing director in Zug draws on his previous operational experience as a co-founder and CEO of two US-based biotech companies.

In addition to his responsibilities as a partner for deal origination and representation on boards, McCormack will now be responsible for the internal operations of the Zug office too.

Hans Küpper, partner at GLSV, said: “With this appointment, we install the same co-management system as in our Munich office and keep pace with the growing activities of our group, and particularly of our office in Zug.”

GLSV manages more than €200 million and invests in companies in the pharma, diagnostics, medical devices and biotech sectors within life sciences. The firm was founded in 1996 and has offices in Zug and Munich. It is currently raising its third fund, which has a target of between €150 million and €200 million.