Founder Dr. Ratmir Derda transitions to Chief Scientific Officer as company expands efforts in peptide drug discovery and asset development
[Edmonton, Alberta] September 25, 2023 – 48Hour Discovery, a leading peptide discovery company, is excited to announce the appointment of Rick Finnegan as its new CEO. With over 35 years of cross-functional experience, Finnegan brings deep expertise from a wide range of roles at companies including top-tier multinationals to pre-IPO startups. Founder Ratmir Derda will transition to the role of Chief Scientific Officer (CSO), focusing on driving scientific advancements and enhancing the company’s technical capabilities.
Finnegan is an innovative industry executive with significant experience at pharmaceutical/biotech companies ranging in size and development stage, and has managed programs and products across stages from discovery through to mature multi-billion dollar flagship franchises. Prior to joining 48Hour Discovery, Finnegan was Chief Business Officer and EVP Program Management at SAB Biotherapeutics where he brought the company’s first two products from discovery into the clinic and raised over $150 million in US government grants for the COVID-19 program. Previous leadership roles include: Critical Therapeutics, where as SVP Sales and Marketing, he built out the entire commercialization group launching the company’s first brand while raising $97 million through an IPO and PIPE; Glenmark, where he was the President and cross-functional lead for the European Specialty Pharma division; and Merck & Co. where he held a range of US and Global Commercialization roles from 1989 to 2001. Finnegan also brings biopharma business services experience from his time as Executive Vice President of Global Strategic Accounts and Commercial Development for Syneos (formerly inVentiv Health). His expertise in fundraising, clinical development, new product planning, and client services make him an ideal fit for the growing company’s corporate mandate.
As a full-service drug discovery company, 48Hour Discovery is uniquely positioned to cater to the evolving needs of large pharmaceutical and biotech enterprises. This new appointment aligns with the company’s vision to expand partnerships, enter new industry segments, and venture into asset development and licensing. Finnegan aims to further position the company as a leader in peptide discovery, fostering exciting partnerships and growth opportunities that will shape the future of advanced therapeutics.
Ratmir Derda, the visionary behind this technology, will assume the role of CSO, focusing on harnessing his scientific expertise to drive the platform’s technological advancements. With his continued involvement, 48Hour Discovery is well-positioned to maintain its trajectory of innovation and breakthroughs in chemically modified phage display and rapidly advance peptide discovery.
“This transition marks a strategic move for 48Hour Discovery. We are delighted to welcome Rick Finnegan as our new CEO, leveraging his proven industry acumen to guide our expansion efforts,” said Ratmir Derda, CSO of 48Hour Discovery. “I am excited to work closely with Rick as we navigate this next phase of growth, enhancing our capabilities and shaping the future of peptide discovery.”
Under the new leadership structure, 48Hour Discovery remains dedicated to its mission of delivering cutting-edge peptide discovery solutions that empower pharmaceutical and biotech companies to accelerate their research and development initiatives.
“I am honored to join 48Hour Discovery as its CEO and lead a team of exceptional professionals,” stated Rick Finnegan. “Together with Ratmir Derda’s scientific vision, we are committed to pushing the boundaries of peptide discovery and revolutionizing the drug development landscape.” Finnegan holds a BSc in Business Admin with pre-medical concentration from the University of New Hampshire, and a MS in Management from MIT Sloan School of Management.
About 48Hour Discovery
48Hour Discovery is a dynamic peptide discovery platform that has revolutionized drug discovery through its innovative approaches to peptide design. Leveraging cutting-edge technologies, the platform accelerates the identification and optimization of peptides with therapeutic potential, offering a novel pathway to addressing unmet medical needs. Established in 2017, the company has validated its technology platform securing partnerships with over 20 companies including global pharma and leaders in the radiopharmaceutical industry. For more information, visit www.48hourdiscovery.com