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PROTEIN SCIENCES PRESIDENT AND CEO ELECTED TO CBIA BOARD OF DIRECTORS
Adams is president and CEO of Protein Sciences Corp. (PSC), of Meriden, the world leader in developing and manufacturing the next generation of safer, more effective human and veterinary vaccines using its patented baculovirus protein expression system. He is one of 16 new members elected to the CBIA board who will begin their terms Dec. 1. CBIA is the state’s largest business organization, with 10,000 member companies throughout Connecticut. The board of directors approves the organization’s plans, policies and strategies, and particularly focuses on ways to make Connecticut a better place to do business and create jobs. PSC was a distressed company when Adams took it over in 1996. It now has two influenza vaccines that have completed Phase II(b) clinical trials, including FluBlØk™, which will enter Phase III clinical trials in the fall of 2004 and is on track to reach the market in 2007. Previously, Adams founded three companies with a combined value of over $20 billion. He co-founded Biogen in 1976 and was its first CEO. He founded and was CEO of Advanced Genetic Sciences Inc., the first agricultural biotechnology company. AGS was taken public in 1983 by Smith Barney, merged with DNA Plant Technologies in 1986 and was acquired by a multinational company in 1995. He founded Plant Genetic Systems, the first European agricultural biotechnology company, and served as a director and chairman of the management committee. PGS was acquired by a joint venture of Hoechst and Schering in 1996. During the 1970s, Adams was co-owner of Capital International Airways, a successful passenger airline that flew from hubs in the United States primarily to international destinations. He introduced innovative pricing for last-minute ticket purchases that has subsequently been widely adopted in the airline industry. Adams co-founded and served as CEO of Inco Securities Corp., a venture capital fund, in 1975. He made the first outside equity investment in Genentech and helped build the company in its initial stages. Under his management, the fund grew at a compound annual rate of over 200% per year. From 1965 to 1971, he was associated with the New York City law firm of Sullivan & Cromwell. During the 1970s, he was an adviser to the Swedish government. Adams recommended that development efforts focus on biotechnology and robotics because of their "fit" with the culture. Sweden subsequently became a leader in both fields. Adams earned a B.A. degree in chemistry from Cornell University and a Juris doctor degree magna cum laude from New York University School of Law, where he was an executive editor of the Law Review. He also studied at the University of Concepcion, Chile, and has taught seminars on entrepreneurship at the Yale School of Management, Harvard Business School and Dartmouth's Amos Tuck School. He is also a director of Tweed New Haven Airport, the Medical University of South Carolina Foundation for Research, and Connecticut United for Research Excellence. He has been chairman of the Young Presidents' Organization Health Care Focus Forum; co-chairman, Parents' Association and Major Gifts, Swarthmore College; co-chairman, Yale University Parents Fund, trustee and chair of the Planning Committee, Greenwich Hospital; chairman of the Education Commission, Christ Church; trustee and chairman of the Planning Committee, Brunswick School; Presidents' Forum chairman and director, Fairchester Chapter, Young Presidents' Organization; co-chairman, Major Gifts, Phillips Academy, Andover; co-chairman, Parents Fund, Phillips Academy, Exeter; president, The Rock Ridge Association; President, Mountain Reach Association, a biotechnology advisor to the University of New Haven, and for 16 years head coach of a youth soccer team. Adams lives in East Haven, and has three children who are young adults. ###
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The
Connecticut Business & Industry Association (CBIA) elected Daniel
D. Adams to a four-year term on its board of directors at the association’s
Oct. 27 Annual Meeting.