Kevin M. Smith, president and CEO of the Colorado Institute for Drug, Device and Diagnostic Development (CID4) since 2010, will retire from his position as CEO on December 31, 2014. A search committee has been formed.
“With the ongoing changes in the healthcare and life science sectors, CID4 is revisiting how it can best support our industry,” said Steve Orndorff, PhD, chairman of the CID4 board and president and CEO of MicroBiome Therapeutics. “CID4 is well positioned for its future and we believe the new executive director position will strengthen our alignment with the State of Colorado in our mutual quest to create new jobs and business opportunities within the dynamic life science sector of advanced industries.”
Prior to helping found CID4 in 2009, Smith was president of Gambro, Inc., the US holding company for Gambro AB, the Sweden-based medical device and healthcare services company. He started his career with Arthur Young in New York and was a partner with Ernst & Young, leading the development of their Colorado life science practice at the time he left to join Gambro.
“CID4’s success is grounded in the excellent technologies that are being developed in Colorado,” said Smith. “We have invested approximately $3 million into nine early-stage companies. Those firms have gone on to create 85 new jobs and raise an additional $30 million to support the commercialization of their patient-focused technologies. I am proud to have played a role in this process.”