Velocity Pharmaceutical Development
Velocity Pharmaceutical Development (VPD) was established in 2011 by Presidio Partners as an alternative model to develop attractive drug candidates that would otherwise be funded as part of a broader company financing or not be funded due to strategic reasons or resource limitations. The company’s founders, David Collier, Ed Schnipper, Jim Larrick and Andy Perlman, recognized that many high potential drug candidates are underfunded or shelved due to the inherent inefficiencies in traditional drug development within small and large biotech and pharmaceutical companies. Their solution was to invest in drug candidates and not companies. This was the inspiration for the Velocity model that establishes a project focused company (PFC) to house drug candidates acquired from third parties. By partnering with VPD, the owner of a drug candidate can achieve the funding needed to take the drug candidate to clinical proof-of-concept while accessing a world-class team to design and manage the development program. The contributor of the drug candidate receives equity in the new PFC created to house its drug program and benefits from the ultimate financial upside upon clinical success and sale of the PFC to a pharmaceutical company.