David R. King, a lawyer-turned-CEO who ran and sold three Philadelphia-area biotech firms, is joining $700 million-asset Quaker BioVentures as a venture partner.
The fund invests in small companies from New England to the Carolinas, backed by more than $160 million committed by Pennsylvania's state pension funds.
King, a Penn and Harvard Law graduate, built a biotech and emerging-company in 26 years at Morgan Lewis & Bockius. He was a director of Cephalon Inc. under Frank Baldino. "He's Mr. Biotech," said Stephen Goodman, who runs the group King started at Morgan Lewis.
In 2000, King joined Principia Pharmaceutical Corp. of King of Prussia as CEO; sold it at a big profit to Human Genome Sciences Inc; was president of Delsys Pharmeceutical Corp. of Princeton, selling to Elon Corp., and CEO of BioRexis, which Quaker helped fund, before it was bought by Pfizer Inc. last year.