Insmed (INSM) Appoints Andrew Drechsler as CFO
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Insmed Incorporated (Nasdaq: INSM) announced the appointment of Andrew Drechsler to the position of Chief Financial Officer. Mr. Drechsler will assume the role of Principal Financial and Accounting Officer as of November 8, 2012.
Mr. Drechsler offers 15 years of financial and operational leadership experience in both public and private life sciences companies. He joins Insmed from VaxInnate Corporation, a privately held clinical-stage biotechnology company developing vaccines for infectious diseases, where he was Chief Financial Officer. During his five years with VaxInnate, Mr. Drechsler led multiple financing transactions totaling more than $55 million. In addition, he was influential in helping VaxInnate secure approximately $200 million in U.S. government funding. Previously, Mr. Drechsler was Chief Financial Officer of publicly-traded Valera Pharmaceuticals where he helped raise $35 million through an initial public offering in 2006, completed a licensing and investment agreement with a partner for two products and worked with senior management to build a commercial team. Mr. Drechsler was part of the team that negotiated the sale of the company to Indevus Pharmaceuticals in 2007 in a transaction valued at $150 million. He was also responsible for all Securities and Exchange Commission reporting at Valera.
Mr. Drechsler's vast public company and financial reporting duties have also included serving as Controller for a variety of companies, including Abbott Laboratories' Point of Care Division, which was publicly-traded as i-Stat Corporation prior to being acquired by Abbott, and Biomatrix, Inc., which was publicly-traded prior to being acquired by Genzyme. He graduated Magna Cum Laude from Villanova University with a B.S. in Accounting and received his certified public accountant license in New Jersey.
Mr. Drechsler offers 15 years of financial and operational leadership experience in both public and private life sciences companies. He joins Insmed from VaxInnate Corporation, a privately held clinical-stage biotechnology company developing vaccines for infectious diseases, where he was Chief Financial Officer. During his five years with VaxInnate, Mr. Drechsler led multiple financing transactions totaling more than $55 million. In addition, he was influential in helping VaxInnate secure approximately $200 million in U.S. government funding. Previously, Mr. Drechsler was Chief Financial Officer of publicly-traded Valera Pharmaceuticals where he helped raise $35 million through an initial public offering in 2006, completed a licensing and investment agreement with a partner for two products and worked with senior management to build a commercial team. Mr. Drechsler was part of the team that negotiated the sale of the company to Indevus Pharmaceuticals in 2007 in a transaction valued at $150 million. He was also responsible for all Securities and Exchange Commission reporting at Valera.
Mr. Drechsler's vast public company and financial reporting duties have also included serving as Controller for a variety of companies, including Abbott Laboratories' Point of Care Division, which was publicly-traded as i-Stat Corporation prior to being acquired by Abbott, and Biomatrix, Inc., which was publicly-traded prior to being acquired by Genzyme. He graduated Magna Cum Laude from Villanova University with a B.S. in Accounting and received his certified public accountant license in New Jersey.
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