WALTHAM, Mass., Aug. 17, 2020 (GLOBE NEWSWIRE) — Danforth Advisors, LLC, the life science industry’s leading resource for operational accounting, finance support and strategic CFO advisory, today announced the appointment of Stephen J. Hoffman, MD, PhD, to its board of directors and to a senior advisory role for the firm’s clients. An accomplished life science entrepreneur, executive and investor, he brings three decades of knowledge and influential relationships to his position as a strategic thought partner to scientific founders and CEOs navigating all stages of corporate evolution. His initial focus will be assistance with fundraising for earlier stage companies.
“Having worked with Danforth for many years as a client CEO, board member or investor, I’ve been impressed by the team’s grasp of life sciences; how the industry works and what it takes for a company to advance – whether starting up or operating commercially,” said Dr. Hoffman. “We collectively understand the importance of the end game – getting life-changing therapeutics to patients – and our efforts are entirely focused on providing companies with the financial and operational foundation to support this mission.”
“We specialize in a sector that is challenging, with unrelenting capital needs, regulatory hurdles and a very long road to market. Steve has invested in and led companies through nearly every scenario and brings valuable perspective to help our clients achieve their goals,” said Chris Connors, President of Danforth Advisors. “Both as a board member and a consultant with Danforth, Steve is a tremendous asset as we continue to grow and undertake new challenges for our clients.”
Dr. Hoffman’s expertise lies in building life science companies and leading entrepreneurial teams to create shareholder value. He helped found two public companies, Somatogen, Inc. and Allos Therapeutics, Inc. – where he spent nearly nine years as CEO and another ten as Chairman until the company’s acquisition by Spectrum Pharmaceuticals, Inc. He has served on the boards of 18 life science companies, both public and private, with four posts as Chairman and extensive committee experience. On the venture capital side, he has over 15 years of experience leading private equity investments totaling more than $140 million. As Managing Director at Skyline Ventures and General Partner at TVM Capital, he played a major role in portfolio company development, guiding corporate strategy and business development, private and public financings, and clinical and regulatory strategies. He was twice named among the Top Advisors in US Healthcare/Venture Capital by Day & Associates.
He holds an MD from the University of Colorado School of Medicine and PhD in Chemistry from Northwestern University. He completed a fellowship in clinical oncology and a residency and fellowship in dermatology at the University of Colorado.
About Danforth Advisors
Danforth Advisors is the financial backbone to hundreds of life science companies, providing integrated and scalable consulting teams ranging from staff accountant through CFO. The company’s services span the full breadth of a finance organization’s needs, whether short or long term, including accounting and operational finance support, capital raising, financial planning and analysis, IPO preparation, post-public SEC compliance and clinical business operations management. Founded in 2011, Danforth has been a strategic and trusted thought partner to more than 500 life science companies, private and public, across all stages of the corporate life cycle. The company is headquartered in Waltham, Massachusetts with additional operations in the emerging life science clusters of metropolitan New York, Pennsylvania and Colorado. Additional information is available at www.danforthadvisors.com.