Cibus appoints co-founder Rory Riggs as CEO
News and research before you hear about it on CNBC et al. Claim your 1-week free trial for StreetInsider Premium here.
SAN DIEGO – (BUSINESS WIRE) – Cibus, a leading agricultural biotechnology company, today announced the appointment of Rory Riggs, co-founder and chairman of Cibus, as chief executive officer. He will succeed Peter Beetham, PhD, also co-founder of Cibus, who was appointed president and chief operating officer of the company for 20 years.
“Since our founding, Rory has been an important strategic partner in the success of Cibus and we are delighted to have him deepen his involvement in the growth of the company as CEO,” said Dr Beetham. “With recent progress towards a European approval of Cibus’s proprietary precision gene editing technology, along with other recent Cibus commercial announcements, this change of direction is an important step in scaling up Cibus to meet the huge opportunities that exist in the global agricultural solutions market. ”
“Cibus’s Rapid Trait Development System ™ technology is set to play a leading role in the global drive to make agriculture more efficient and sustainable. Huge technological breakthroughs in gene editing by our scientists and others have placed agriculture at a major inflection point in the use of environmentally friendly organic solutions to address both the sustainability of the environment. ‘agriculture and the impact of agriculture on climate change,’ said Mr Riggs.
“Cibus focuses on improving the productivity of major row crops: canola, rice, soybeans, wheat and corn. These crops are grown annually on billions of acres of land. Addressing the use of chemicals and the impact of climate change on these major global crops is essential to achieving virtually all climate and sustainable development goals. I am delighted to be working more closely with the Cibus team in this huge opportunity to make Cibus a global leader in agricultural transformation.
Mr. Riggs has extensive experience in executive leadership and innovation in health and biotechnology. He is the co-founder, former chairman and director of Royalty Pharma (NASDAQ: RPRX), the largest purchaser of pharmaceutical royalties and principal funder of innovation in the life sciences. In addition, he has co-founded and served on the boards of several major biotechnology companies, including Sugen (NASDAQ: SUGN) and Fibrogen (NASDAQ: FGEN).
Previously, Mr. Riggs was President and Director of Biomatrix, Inc. (NYSE: BXM) from 1996 until its sale to Sanofi / Genzyme. During his tenure, he led the development and global commercial launch of an important new category for the treatment of osteoarthritis: viscosupplementation; and the leading product in the category: Synvisc®. Mr. Riggs was also CEO of RF&P Corp., an investment firm owned by the Virginia Retirement System until its sale to Lazard. He is director of Intra-cellular Therapies, Inc (NASDAQ: ITCI); Zero Life Sciences Internship (OTCMKTS: SZLSF), and co-founder and partner of Scientia Ventures LLC, one of Cibus’s leading venture capitalists. He was previously Managing Director of PaineWebber, Inc.
Mr. Riggs is also a pioneer in the field of systems economics and the inventor of a new information system called FIS® (Functional Information System) for the functional mapping of system data in biology and economics. This technology is covered by several patents including one with Dr Beetham and Greg Gocal, PhD, scientific director of Cibus. FIS is currently the basis of two investment analysis and research firms: Syntax LLC and Locus Analytics LLC.
“The addition of Rory to our leadership team is a major step in achieving our goal of redefining and reshaping the crop protection industry,” said Dr. Gocal, Co-Founder, Scientific Director and Vice -executive chairman of Cibus. “Continued technological advancements in genomics and gene editing have created a generational moment in one of the most exciting scientific periods of our lives and we look forward to making a significant contribution to improving agriculture through biology. . ”
Mr. Riggs holds a BA from Middlebury College and an MBA from the Graduate School of Business at Columbia University.
Cibus is a leading agricultural biotechnology company that uses precision gene editing to select plants with new genetic characteristics that make them healthier and better able to thrive in their changing environments. Traits of Cibus improve agricultural productivity by increasing crop yields and reducing inputs such as fungicides, herbicides, pesticides and fertilizers. The characteristic products of Cibus are important drivers of the sustainability of agriculture and the reduction of the carbon footprint of agriculture. For more information, please visit www.cibus.com.
Investor Relations Contact