Tuesday, September 7, 2010

Carrie Cox Appointed President Of Humacyte -- A $12 Million Private Company(!)

According to an SEC Form D filed on September 2, 2010, Humacyte has raised $12 million in a private placement. That means Ms. Cox -- at this current development stage company, presides over about eight-one-hundredths of one percent of the asset-portfolio she last presided over -- at legacy Schering-Plough. That some come-down ($12 million/$15 billion), no?

Here is some of a local Durham, NC paper's take on it, tonight -- do go read it all, though:

. . . .Duke University spinoff Humacyte Inc., on Tuesday announced the appointment of Carrie S. Cox as the company’s new chief executive officer, effective September 20, 2010.

She will also assume a position on the board of the developmental stage firm. . . .

The Durham-based firm was founded in late 2004 to perfect a process using human cells to make artificial blood vessels capable of being transplanted into patients suffering from kidney failure and other ailments. . . .

Artifical blood vessels, you say? That will be a very tough nut to crack -- and especially so -- with only $12 million in the bank.

To help put it into perspective here, the company has, in market cap, less than one-fifth of Ms. Cox's all-in golden parachute value -- from old Schering-Plough (with Merck stock sitting at about $35 on the NYSE, tonight). Wow.


Anonymous said...

Maybe she's feeling a bit generous? Performing a little 'pro bono' work?

condor said...

Or, perhaps, she was required to "buy-in" to the private offering (or buy it out, completely), to secure her seat?

Who knows? [It would not be unheard of, at this private/small-finance lavel.]

Thanks -- and do stop back!


Anonymous said...

Carrie has no people skills and a bitch of a person.
Arrogant and not too smart.
Having a one on one meeting is all about her agenda.