FOR IMMEDIATE RELEASE
Veteran Industry & Finance Expert Will Advance St. Louis’ Bioscience Cluster Building Effort
Additional Financial Management Will Further Collaborative Efforts and Support for Startups
ST. LOUIS (July 2, 2012) — BioSTL announced the addition of Jim Jaacks as Vice President for Finance & Administration to help achieve the mission of promoting economic growth and regional prosperity that capitalizes on St. Louis’ world class medical and plant biosciences.
Mr. Jaacks formerly served as Executive Vice President and Chief Administrative Officer, and prior to that as Chief Financial Officer, for Mercy Health. Mr. Jaacks joins BioSTL as the young organization’s first Vice President for Finance & Administration. He will also support the work of BioSTL’s nonprofit subsidiary, the BioGenerator, which provides investment funds and management support to launch early stage bioscience companies in St. Louis.
“We are delighted to have someone with Jim’s depth of experience in healthcare and finance joining our team. His abilities expand BioSTL’s capacity to launch new startups and strengthen St. Louis’ entrepreneurial ecosystem in the biosciences and healthcare fields,” said Donn Rubin, President and CEO of BioSTL.
In this new role, Mr. Jaacks will manage administrative and financial infrastructure and systems needed to support BioSTL and the BioGenerator, as well as collaborative projects, including federal grants, undertaken with regional partners.
“I am excited about the opportunity to contribute to this transformational effort,” said Jim Jaacks, Vice President for Finance & Administration for BioSTL. “The biosciences present a premier opportunity to accelerate the growth of St. Louis’ economy, and I look forward to working with BioSTL, the BioGenerator, and the region’s entrepreneurs to promote company formation and job creation.”
In his previous roles, Mr. Jaacks was responsible for Mercy-wide operations of Finance, Treasury, Business Risk Services, Information Technology, Performance Improvement, Legal, and Advocacy efforts. He led efforts to develop consistent policies and procedures, most notably in Finance and Human Resources; as well as led numerous strategic projects involving multiple stakeholders across healthcare.
BioSTL builds regional capacity and fosters collaborative efforts to advance innovation, entrepreneurship, and new company creation that capitalize on St. Louis’ world-class medical and plant biosciences. Through its work, BioSTL promotes economic growth and regional prosperity. Please visit www.biostl.org for more information.
BioGenerator is a privately funded, nonprofit subsidiary of BioSTL created to build successful, sustainable bioscience companies located in the St. Louis region. Through its pre-seed and seed investment funds, its shared lab space, and in-depth management support, the BioGenerator has created, nurtured, and funded 28 new bioscience companies. The $4 million of nonprofit funds invested in these companies to date has levered an additional $50 million in co-investment and follow-on funding by third parties including individual angels, venture capital firms, and corporate strategic partners. Please visit www.biogenerator.org for additional information.
Office: (314) 880-8872