Company Builds Leadership Team for Next Stage of Growth with Expanded Commercialization of Organs-on-Chips Product Suite
BOSTON, Mass. – March 19, 2020 – Emulate, Inc., today announced that Jim Corbett has been appointed as Chief Executive Officer and Martin Madaus, Ph.D., has been appointed Executive Chairman of the company’s Board of Directors. These life science leaders join Emulate as the company scales the adoption of its industry-leading Organs-on-Chips product suite that allows researchers to predict human response better than conventional cell culture and animal-based experimental testing.
As CEO of Emulate, Jim Corbett joins the company with more than 25 years of experience in commercial strategy for healthcare and life sciences. Mr. Corbett most recently served as Executive Vice President and President of Discovery & Analytical Solutions at PerkinElmer, a division with 4,000 employees that he led to consecutive years of commercial growth and profitability, as well as promoting product development with the launch of 14 new platforms. He succeeds Emulate’s founding CEO, James Coon, who led the company through its early stage, secured funding from a premier syndicate of investors, and guided the launch of the company’s first products.
As Executive Chairman of Emulate, Martin Madaus brings more than 25 years of experience in the diagnostics and life science industries with a track record for driving company growth and value creation. Dr. Madaus’ most recent roles leading companies with healthcare and life sciences technologies include Chairman and CEO of Ortho Clinical Diagnostics, Chairman and CEO of Quanterix Corporation, Chairman, President and CEO of Millipore Corp, and President and CEO of Roche Diagnostics Corporation.
“Emulate’s platform is already used by 10 of the top 25 pharmaceutical companies, and we plan to continue momentum to gain adoption for our products at all of the top pharmaceutical companies.”— Martin Madaus, Ph.D., Executive Chairman
“Emulate has reached an exciting inflection point for its next stage of growth with the most comprehensive and robust product suite for putting Organs-on-Chips technology in the hands of researchers in drug development and other industries worldwide. Emulate’s platform is already used by 10 of the top 25 pharmaceutical companies, and we plan to continue momentum to gain adoption for our products at all of the top pharmaceutical companies,” said Dr. Madaus. “I also want to acknowledge and thank James Coon for his many contributions and his entrepreneurial success leading Emulate through its early stages of growth and the development of its first commercial products.”
In support of Emulate’s plans for growth and commercialization, the company has continued to build its financial resources and infrastructure. The company secured additional financing from existing investors, including Founders Fund, Cedars-Sinai Medical Center, NanoDimension, ALS Investment Fund, and from new investors including Northpond Ventures and Blue Ivy Ventures. The financing round was led by Northpond Ventures, a leading science, medical, and technology-driven venture capital firm. Northpond’s Sharon Kedar, Co-Founder and Partner at the firm, has joined Emulate’s Board of Directors.
Emulate’s growth plans include expanding the commercialization of its Zoë® lab-ready instrumentation and three commercially available chips: Liver-Chip, Kidney-Chip, and Intestine-Chip. In addition, the company will continue to invest in R&D to support new product development and new applications in key areas of biology and disease, and Dr. Geraldine A. Hamilton, President and Chief Scientific Officer, will continue to oversee and evolve the scientific activities that underlie Emulate’s technology.
“There is an incredibly strong foundation of scientific excellence, robust product development, and an outstanding team at Emulate that provides a springboard for us to grow the adoption and impact of our products as we look ahead to Emulate’s future.”— Jim Corbett, Chief Executive Officer
“I am excited to join Emulate at this time of enormous opportunity as we expand the team and ramp up the company’s commercial capabilities to realize the potential of Organs-on-Chips technology to impact human health,” said Mr. Corbett. “There is an incredibly strong foundation of scientific excellence, robust product development, and an outstanding team at Emulate that provides a springboard for us to grow the adoption and impact of our products as we look ahead to Emulate’s future.”
About Jim Corbett
Jim Corbett has served as a leader of successful international businesses across diverse sectors, including biotechnology, medical imaging, analytical instruments and in vitro diagnostics. His experience ranges from Fortune 100 companies to entrepreneurial start-ups. He served in leadership roles at PerkinElmer during an 11-year tenure, most recently as Executive Vice President and President of Discovery & Analytical Solutions. His other roles at PerkinElmer included Senior Vice President Human Health, Senior Vice President of Life Sciences Solutions, and President Diagnostics & Life Sciences. Prior to PerkinElmer, Mr. Corbett was President of ViaCell, Inc. Previously, he co-founded CADx Systems, a company focused on the oncology market, where he held the position of Executive Vice President and Director with responsibility for worldwide sales and marketing, technical support and business development. Following the 2004 acquisition of CADx by iCAD, Inc., he was named Chief Commercial Officer. In addition, Mr. Corbett worked for Abbott Laboratories for 14 years in a variety of sales, marketing, and general management positions. Mr. Corbett holds a Bachelor of Science from the University of Massachusetts, Amherst.
About Martin Madaus, Ph.D.
Dr. Madaus is an experienced executive with expertise in biotech, medical devices, in vitro diagnostics and life sciences tools, including management of public companies, private equity and venture-backed companies, and mergers and acquisitions. He also has 15 years of experience serving on public and private boards of directors. He is currently an operating executive at The Carlyle Group. Previously, he served as chairman and CEO of Ortho Clinical Diagnostics. Prior to Ortho, Dr. Madaus served as executive chairman of Quanterix Corporation. Previously, he was Chairman, President and CEO of Millipore Corporation and president and chief executive officer of Roche Diagnostics Corporation North America. Dr. Madaus received a Doctor of Veterinary Medicine degree from the University of Munich in Germany and a Ph.D. in veterinary medicine from the Veterinary School of Hanover in Germany.
About Emulate, Inc.
Emulate Inc. is a privately held company that creates living products for understanding how diseases, medicines, chemicals, and foods affect human health. Our lab-ready platform, including Zoë® instrumentation, Organ-Chips, and application tools, provides a window into the inner workings of human biology and disease — offering researchers a new technology designed to predict human response with greater precision and detail than conventional cell culture or animal‑based experimental testing. Each of Emulate’s proprietary Organ-Chips — including the liver, intestine and kidney — contains tiny hollow channels lined with tens of thousands of living human cells and tissues and are approximately the size of an AA battery. An Organ-Chip is a living, microengineered environment that recreates the natural physiology and mechanical forces that cells experience within the human body. Our founding team pioneered the Organs‑on‑Chips technology at the Wyss Institute for Biologically Inspired Engineering at Harvard University. Emulate holds the worldwide exclusive license from Harvard University to a robust and broad intellectual property portfolio for the Organs-on-Chips technology and related systems. For more information, please visit www.emulatebio.com.