Algorithm Sciences, a Laidlaw Venture Partners Portfolio Company, Announces Key Management Appointments

NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Laidlaw Venture Partners (“LVP”), the venture capital arm of Laidlaw & Company (UK) Ltd., today announced key management appointments for its portfolio company, Algorithm Sciences, Inc. Effective immediately, Michael Tilton has been named Chief Executive Officer, David Cavalier has been named Chief Operating Officer and Chief Financial Officer, and Matthew Duffy has been named Executive Chairman of the company.

James Ahern, Founding Partner, Laidlaw Venture Partners added, "Laidlaw Venture Partners is thrilled to have been able to attract the caliber of talent that Mike and David bring to Algorithm. We believe it is a testament to Algorithm’s asset quality, and viable path to helping patients with rare cardiovascular diseases. Our platform at LVP strives to identify valuable technologies, procure top tier individuals to foster their growth, and create value for our investors.”

Mr. Duffy, who transitions from his prior role as CEO, added, “Mike and David bring key expertise to Algorithm that will accelerate the company into our next steps in value creation. I welcome them and look forward to working together to bring needed therapies to patients.”

Matt is also Managing Partner of Laidlaw Venture Partners and Managing Director of Laidlaw and Company, Ltd. (UK). He has extensive development-to-market experience, beginning at Pfizer, Inc. in Sales, Sales Management and Marketing (CNS, Cardiovasculars, Anti-Infectives, Metabolics). He subsequently led the efforts to bring several important new drugs to commercialization including Synagis (MedImmune, Inc., >$1BB) as head of Marketing and Cinryze (Lev Pharmaceuticals, Inc., >$600MM) as head of Commercial Operations (Sales, Sales Management, Marketing, Managed Care, Patient Services, Distribution, FDA Advisory Committee preparation). Matt currently serves as President of Voltron Therapeutics, Inc. and PD Theranostics, Inc., as well as as a member of the board of directors of each of these as well as AerWave Medical, Inc.

Mr. Tilton’s career in the pharmaceutical and biotech industry career spans more than 30 years.

Most recently, he served as Senior Vice President, Chief Commercial Officer of Avanir Pharmaceuticals. In this role, he oversaw commercial operations for the drug, Nuedexta, which Marketing, Sales, Managed Markets, Operations and Training.

Mr. Tilton’s prior roles included executive level positions included leading sales, marketing and business development for Syneos Health, Amgen, and AstraZeneca pharmaceuticals.

“I’m excited to take on the CEO role at Algorithm at an exciting time in its evolution. I look forward to working with the rest of the management team and our soon to be named board of directors on treatments for rare cardiovascular diseases,” said Mike Tilton, Algorithm’s newly named Chief Executive Officer.

David Cavalier brings over 20 years of biotechnology industry experience to his role as Chief Operating Officer and Chief Financial Officer of Algorithm. A seasoned C-suite executive and investor, his prior roles include serving as Chief Operating Officer of Mab & Stoke, Inc., a direct-to-consumer health and wellness company, and Chairman and Chief Financial officer of Aeolus Pharmaceuticals, Inc. At Aeolus, Mr. Cavalier was instrumental in winning and managing a $118 million advanced research and development contract from the U.S. Government. Earlier in his career, Mr. Cavalier was a founder and managing principal of Xmark Asset Management, an investment firm that managed a series of dedicated life sciences investment funds.

About Algorithm Sciences

Algorithm Sciences is focused on optimizing treatment for rare cardiovascular diseases. It is a Laidlaw Venture Partners portfolio company.

About Laidlaw & Company

Laidlaw & Company is a full-service investment banking and brokerage firm offering personalized investment advice and skillful execution to private institutions, public institutions, and high net worth individual investors.
Laidlaw & Company (U.K.) Ltd., a broker-dealer registered with FINRA in the United States, clears on a fully disclosed basis through StoneX Financial Inc., a member of the Securities Investor Protection Corporation (SIPC). Laidlaw & Company International Limited, an affiliate of Laidlaw & Company, is authorized by the Financial Conduct Authority (FCA) in the United Kingdom.

Laidlaw Wealth Management and Laidlaw Private Equity, LLC are affiliates of Laidlaw & Company (UK) Ltd.

Laidlaw Venture Partners is a DBA, of Laidlaw Private Equity.

For more information, please visit: https://laidlawltd.com/

Investor Contacts:

Matt Duffy
Executive Chairman
Algorithm Sciences, Inc.
646-335-5923
mduffy@algo-sci.com

Jason Assad
Algorithm Sciences, Inc.

Investor Relations
678-570-6791
jwassad@bellsouth.net