Patrick Mahaffy is an accomplished Biopharmaceutical Executive with significant experience in oncology-focused drug development and commercialization in the US and Europe. He has successfully led multiple firms in the industry in the roles of President, CEO, and Board Chair and served on the Boards of several high-growth biotechnology companies. In his role as Board Chair, he enjoyed spending time mentoring first-time CEOs.
Pat brings a strategic vision and insightful perspective on commercial development, marketing, portfolio strategy, and operational and management expertise specific to novel oncology therapeutics and targeted radiotherapeutics, an exciting area of oncology drug development. His service on corporate boards expanded beyond traditional oncology companies, including those focused on immunotherapies for cancer and infectious diseases and musculoskeletal therapeutics.
Most recently, Pat served as President and CEO of Clovis Oncology, a company he co-founded in 2009. Under his leadership, Clovis developed, gained approvals for, and marketed Rubraca, an ovarian and prostate cancer drug in the US and Europe, and commenced early-stage clinical development of targeted radionuclide therapy. Unfortunately, the company ultimately wound down in early 2023 due to the negative impact of COVID-19 on cancer diagnoses and, more recently, FDA concerns about outcomes for Rubraca and the broader class of PARP inhibitors in the treatment of ovarian cancer. This FDA concern was not shared by the wider opinion leader community or any other regulatory agency, and, as a result, Rubraca and PARP inhibitors as a class remain the standard of care for the treatment of ovarian cancer.
Before Clovis, Patrick Mahaffy served as the President and CEO of Pharmion Corporation, a global drug development and commercialization company focused on hematological and solid tumor cancers, from 2000 to 2008, when it was acquired by Celgene (now Bristol Myers Squibb) for $2.9 billion. Its primary drug, Vidaza, remains today the standard of care for treating myelodysplastic syndrome and acute myeloid leukemia. In addition, Pharmion successfully gained European approval for thalidomide for treating multiple myeloma, which represented a highly complex regulatory process given thalidomide's history of congenital disabilities following its use as a treatment for morning sickness in Europe sixty years earlier.
Pat's first role as CEO was at Nexstar Pharmaceuticals, focused on the discovery, development, manufacture, and commercialization of products to treat severe and life-threatening illnesses, including cancer. He led from 1992 to 1998, before its 1999 acquisition by Gilead Sciences for $550 million. Nexstar's primary drug, Ambisome, remains today's standard of care for treating certain life-threatening fungal infections.
Consistent among each of the three Boulder, Colorado-based firms Pat built, led, and took public on the Nasdaq exchange was the emphasis on the development and commercialization of novel oncology drugs in the US and Europe. The marketed drugs developed and commercialized under his leadership at each of the three companies remain the standard of care (or a member of the class that is the standard of care) for the conditions they are approved to treat in the US and Europe.
Mahaffy began his career at Warburg Pincus, where he served as a venture capitalist from 1986 to 1992.
Mahaffy holds a Master's degree in International Affairs from Columbia University, which he completed in 1986, a year after obtaining his Bachelor's degree in International Affairs from Lewis and Clark College.
Patrick Mahaffy is also a long-serving member of the Board of Trustees for Lewis & Clark College.
