Case Study: Inside the Investor Playbook

How VCs Are Assessing Companies, Backing Breakthroughs, and Shaping the Region’s Bioscience Trajectory

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  Chris Yoo

  Chris has 25+ years of experience in advancing biomedical technologies. He is Regional Innovation Officer for the MDM2 Consortium in Phoenix and Managing Director of Xcellerant Ventures, Arizona’s HealthTech-focused VC fund. A serial entrepreneur and angel investor, Chris has founded and led companies in oncology, cognitive computing, and personalized medicine. He actively supports startups through Yoo & Co Accelerators and mentorship at ASU, where he also teaches molecular diagnostics, bioengineering, and entrepreneurship. Chris holds a Ph.D. from Yale, completed a postdoc at UC Berkeley, and earned a B.A. from the University of Pennsylvania. He has also worked with Cisco, Oracle, and IBM on early personalized medicine strategies.

  Xcellerant Ventures

  General Partner

  Chris Yoo

  General Partner

  Xcellerant Ventures

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  Andy Lombard

  At the helm of TESORO VC, our mission is to empower entrepreneurs and position Arizona as a vibrant startup nexus. My focus lies in mentoring founders to turn groundbreaking ideas into businesses that reshape markets and drive economic prosperity. Our approach intertwines hands-on mentorship with strategic new venture development, capitalizing on disruptive opportunities in the startup landscape. As Managing General Partner at HealthImpact VC, I champion the advancement of healthcare through strategic investments in medical technology and AI-driven solutions. The organization's dedication to fostering high-impact innovations in health IT is a testament to our belief in the transformative power of technology. With a steering role at Discovery Oasis, I am committed to cultivating a collaborative biotech environment that accelerates growth and innovation.

  Tesoro.vc

  Founder and CEO

  Andy Lombard

  Founder and CEO

  Tesoro.vc

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  Scott Whyte

  Scott joined HEP in 2022. Before joining HEP, Scott served as Chief Digital Officer of Aerosafe Global, a leader in global cold chain solutions for the biopharma industry. He serves on the board of Toney Healthcare. Prior to that, he served as Chief Strategy Officer at ClearDATA, a leading provider of secure, compliant healthcare cloud computing. Before joining ClearDATA, Scott was an IT Vice President at CommonSpirit Health, one of the largest not-for-profit hospital systems in the nation. Prior to joining CommonSpirit, he was Vice President and CIO at the nationally ranked Phoenix Children’s Hospital. Previously he spent over 17 years helping build the healthcare practices at EY, Siemens Healthcare and Capgemini (a practice now part of Accenture) serving hospitals, health insurers and life sciences companies. Scott previously served as a director for Tag-N-Trac.

  HEP

  Partner

  Scott Whyte

  Partner

  HEP

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  Brian Ellerman

  Brian’s journey in technology and entrepreneurship began in 1985 with his first investment in Applied Biosystems, sparking an enduring "investor bug." This led to early investments in companies like Intabio (SCIEX), Medumo (Philips), and Echo Labs (CELLINK), and he’s an LP/investor with prominent groups such as Genoa and Bioverge. He’s a pivotal figure in the Arizona startup scene, founding several companies, serving as Vice Chair of the Desert Angels, and leading the Arizona Risk Capital Coalition. Brian champions expanded access to expertise and capital for growth-stage entrepreneurs, especially those from underrepresented backgrounds. With over 30 years of experience in medical and health technology, Brian spent 2002 to 2017 at Paris-based pharma Sanofi. There, he oversaw technical construction, managed high-performance computing, and, in 2013, established the global technology scouting and partnering group, connecting top incubators and venture firms worldwide. By 2016, he was instrumental in a corporate digital health strategy team optimizing clinical research through decentralized trials. After leaving Sanofi, Brian founded Arizona FORGE in 2018 and spearheaded the award-winning renovation of the historic Roy Place Building in August 2019, focusing on cultivating entrepreneurial mindsets, advancing the ecosystem, and scaling startups. He’s now brought his talents to the Arizona Board of Regents, where he leads XLR8 PBC, a health tech scale-up program at the Phoenix Bioscience Core. Brian’s diverse academic background includes a BS in Medical Technology from Marist College, an MS in Management Information Systems from UA Eller College of Management, and an MLS Summa Cum Laude with IP Concentration and Health Law Certificate from UA Rogers College of Law. He is currently pursuing a Doctor of Education with an emphasis on Innovative and Entrepreneurial Mindset Leadership at ASU’s Mary Lou Fulton Teachers College.

  XLR8 PBC

  Executive Director

  Moderator

  Brian Ellerman

  Executive Director

  XLR8 PBC

Designing for Discovery: Life Sciences Real Estate, Development, and Placemaking

How Smart, Amenity-Rich and Collaborative Environments Are Shaping the Next Generation of Lab and Medical Research Facilities

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  Aric Bopp

  Aric Bopp is the Executive Director for Discovery Oasis at Mayo Clinic, Arizona. Discovery Oasis (www.discoveryoasis.com) is an expansive 120-acre development in Phoenix, adjacent to world-renowned Mayo Clinic, envisioned as a biotechnology corridor of collaboration to advance groundbreaking solutions to humanity’s most complex medical challenges. Discovery Oasis creates an ecosystem of biomedical innovation among a community of established and early stage biotechnology companies, researchers, educators, entrepreneurs, and medical practitioners who are leading the transformation of healthcare. With an ideal climate, location and economic development infrastructure, Discovery Oasis is an exceptional co-location opportunity for companies with biomedicine, health sciences, medical technologies, big data, and computational focus. Aric Bopp previously led the economic development and innovation zone efforts of ASU Knowledge Enterprise, with a specific focus on development of the NOVUS Innovation Corridor and the seven (7) ASU Innovation Zones. In his role, he helped make Arizona more economically competitive and promote the assets available at ASU to the private sector. He worked closely with the Arizona Commerce Authority, Greater Phoenix Economic Council, brokerage and real estate community, and local economic developers. Internal to ASU, he also worked with ASU Corporate Engagement and Strategic Partnerships, Career Development and Professional Services, Office of Government and Community Engagement, and the University Real Estate Office. Before coming to ASU, Bopp served as the deputy director of strategic initiatives for the city of Mesa, where he focused on development of the Mesa Gateway area. He also served as the program manager for the city of Phoenix, where he directed and implemented projects that support the city’s commercial, office and industrial development. Prior to moving to Arizona in 2015, Bopp was the executive director for Virginia’s New River Valley Economic Development Alliance. Bopp has served on a variety of economic development boards and organizations throughout the years, including the Arizona Technology Council, Queen Creek Economic Development Commission, and the Chandler Economic Development Advisory Board. He also volunteers with the community in several capacities, including coaching Little League Softball. He was named as one of the Top 20 Leaders Under 40 in 2007 by the Blue Ridge Business Journal and the 2011 Business Executive of the Year by the Pulaski County (VA) Chamber of Commerce. Bopp earned a bachelor’s degree in economics from the Johns Hopkins University, attended graduate school in economics at the University of Virginia and received his certified economic developer certification (CEcD) in 2014 through the International Economic Development Council.

  Mayo Clinic

  Executive Director, Discovery Oasis

  Aric Bopp

  Executive Director, Discovery Oasis

  Mayo Clinic

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  Karen Anderson

  Dr. Karen Anderson is a tumor biologist and Professor in the School of Life Sciences at Arizona State University, where she also serves as the Associate Dean of Research for the School of Medicine and Advanced Medical Engineering. She earned both her M.D. and Ph.D. from Duke University. Dr. Anderson completed her clinical training in hematology and oncology at Brigham and Women’s Hospital and Dana-Farber Cancer Institute, and she is board-certified in both oncology and hematology. Dr. Anderson’s research focuses on harnessing the immune system to detect and modify cancer development. Her team investigates the diversity and specificity of the adaptive immune response. Utilizing molecular techniques such as nanopore sequencing, protein arrays, molecular modeling and functional genomics, her group explores the early immune alterations associated with cancer to identify novel targets for treatment and vaccine development.

  ASU

  Associate Dean of Research

  Karen Anderson

  Associate Dean of Research

  ASU

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  Chris Nienhueser

  Leader in Real Estate Development, Design, and Construction With experience in real estate development, design, and construction, I am passionate about delivering innovative, sustainable projects that enhance the communities they serve. As a Project Director at Wexford Science & Technology, I collaborate with universities, academic medical centers, and research institutions to create vibrant, mixed-use Knowledge Communities that drive research, discovery, and entrepreneurship. In my current role, I lead the planning, design, and construction of multiple projects across Wexford’s West Region. I oversee diverse teams of consultants, contractors, and stakeholders to manage budgets, schedules, and quality while mitigating risks. By aligning closely with university and city partners, I ensure each project supports strategic goals, maximizes resources, and fosters innovation. I focus on transforming underutilized spaces into thriving hubs of collaboration and discovery. By combining expertise in real estate development, project management, design, and construction, I deliver high-quality projects that meet the needs of partners and tenants.

  Wexford Science & Technology

  Project Director

  Chris Nienhueser

  Project Director

  Wexford Science & Technology

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  Greg Hadsell

  With over twenty years of experience in architectural design and project management, Greg is facile with interdisciplinary coordination, a clear communicator, and a natural leader. He has led many projects focused on scientific discovery with an emphasis on incorporating sustainable design, creating collaborative multidisciplinary spaces for learning and research, and building highly technical environments for some of the most advanced scientific instruments in the world. Passionate about sustainable design, Greg helped HDR become a founding member of the International Institute for Sustainable Laboratories Northern California Chapter and presented at a recent I2SL National Conference.

  HDR

  Education & Science Director, U.S. West Region

  Greg Hadsell

  Education & Science Director, U.S. West Region

  HDR

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  Shashi Sriram

  Shashi Sriram is a Project Executive with DPR Construction in Arizona. She holds a B. Arch from the University of Madras, India, and a M.S. in Construction Management from the Texas A&M University, College Station. Her interest in life science and research projects stemmed from her time in middle school when she would visit vaccine-manufacturing institutes in India with her dad, who led facilities management for the Indian Government. Shashi predominantly works on research and education projects such as ASU Health Futures Center, UA Bioscience Building, and most recently completing the Integrated Education and Research Building (IERB) at the Mayo Clinic Phoenix campus. She is an avid traveler who loves exploring different cultures, food, and architecture around the world with her husband and two daughters.

  DPR Construction

  Project Executive

  Moderator

  Shashi Sriram

  Project Executive

  DPR Construction

Why Phoenix?

How Arizona’s Economic Tailwinds, Talent Growth and Funding Ecosystem Are Powering One of the Nation’s Fastest-Growing Bioscience Hubs

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  Joan Koerber-Walker

  As President and CEO of AZBio, Joan Koerber-Walker works on behalf of the Arizona Bioscience and Medical Technology Industry to support the growth of the industry, its members, and our community on the local and national level. Ms. Koerber-Walker is also a life science investor and has served on the boards of numerous for-profit and non-profit organizations. The Arizona Bioindustry Association, Inc. (AZBio) serves as the unified voice of the bioscience industry in Arizona. AZBio strives to make Arizona a place where bioscience organizations can grow and succeed. It accomplishes this by creating a forum for the bioscience community to come together, educating policy makers and the public, influencing public policy, and advancing the economic interests of individual organizations as well as the sector as a whole. In the life science industry, Ms. Koerber-Walker is a past-Chair of the State Medical Technology Alliance (SMTA), a consortium of state and regional trade associations representing their local medical technology companies. SMTA’s mission is to collectively support the medical technology industry on the local, state and national levels by fostering a collaborative environment through sharing of best practices, promoting the industry, and advocating for public policies that support innovation. She also represents Arizona as a member of the Council of State Bioscience Associations (CSBA) and the Coalition of State Bioscience Institutes (CSBI). Active in the entrepreneurial and investment communities, she also serves as Chairman of the Board of the Opportunity Through Entrepreneurship Foundation which provides entrepreneurial education, mentoring and support to at-risk members of the community and AZAdvances, OTEF’s initiative to support the community effort to make Arizona home to a Top-Ten health innovation sector, on the Board of Advisors to CellTrust, Inc. which provides secure communication technology to the healthcare industry, and as Chairman of CorePurpose, Inc. which she founded in 2002. Her past experience includes two years as the CEO of ASBA (the Arizona Small Business Association), service as a member of the Board of Trustees of the National Small Business Association in Washington D.C.; President of the National Speakers Association/Arizona; Chair of the Board of Advisors to Parenting Arizona, the state’s largest child abuse prevention organization; as a member of the Executive Committee of the Industry Advisory Board for the Thomas and Joan Read Center at Texas A&M University; on the Board of Directors of the Arizona Technology Council; as Treasurer and Board Member for Ribomed Biotechnologies, Inc.; and as an executive at Avnet, Inc, where, for over a 20 year, span she held a wide variety of roles in sales, marketing, technology, supply chain management, and global administration.

  Arizona Bioindustry Association

  President and CEO

  Joan Koerber-Walker

  President and CEO

  Arizona Bioindustry Association

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  Leo Divinsky

  Mr. Divinsky joined Stockdale Capital Partners in 2019. He is responsible for asset management with an emphasis on commercial office and mixed-use developments, new acquisitions and existing assets throughout major West Coast markets. Mr. Divinsky joined Stockdale after nearly 25 years in development and asset management with Worthe Real Estate Group in Santa Monica, California, well-known for owning and managing institutional-grade high profile media and technology focused assets. Mr. Divinsky is a former Chairman of the Board of BOMA - Greater Los Angeles and has served on the Boards of BOMA-CAL, the Burbank Chamber of Commerce and the Red Cross Subcommittee on Emergency Preparedness. Currently, Mr. Divinsky serves as a Board Member of the Downtown San Diego Partnership, the Horton Plaza Theatres Foundation, the Burnham-Moores Center for Real Estate and member of the Biocom Facilities Committee. He holds a dual Master’s Degree from the University of Southern California in Business Administration and Real Estate Development along with a Bachelor’s degree in Business Administration from Cal State University Northridge.

  Stockdale Capital Partners

  Managing Director, Asset Management

  Leo Divinsky

  Managing Director, Asset Management

  Stockdale Capital Partners

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  Tammy McLeod

  A broadly accomplished private-sector executive and community leader, Tammy McLeod joined the Flinn Foundation in October 2017 as President and CEO. In this role, she is responsible for all grants, programs, and operations of the Foundation. Tammy served nearly 23 years at Arizona Public Service, Arizona’s largest electric utility, in several executive positions that culminated with the role of vice president for energy resource management. Previously, as the firm’s chief customer officer, she created a new company model for engaging in economic development, deployed new strategic community-relations plans, and reimagined the scope of the APS Foundation. Tammy’s commitment to Arizona nonprofit organizations has included numerous board appointments, currently including the Arizona Community Foundation and The Nature Conservancy Arizona (treasurer). Prior to joining the Flinn Foundation, she served as a member of Arizona’s Bioscience Roadmap Steering Committee. Tammy holds a doctorate in sustainability studies from Prescott College. A certified economic developer, she earned her MBA from the Wharton School at the University of Pennsylvania and a Bachelor of Science from the University of Colorado at Boulder. Among many honors for her work to foster strong organizational cultures and a vibrant broader community, Tammy has earned the Athena Award from the Greater Phoenix Chamber of Commerce, the Most Influential Women in Business award from AZ Business, two American Business Awards, and Mom of the Year from Valle del Sol.

  Flinn Foundation

  President and CEO

  Tammy McLeod

  President and CEO

  Flinn Foundation

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  Allison Bakovic

  Allison (Allie) is Vice President of Business Development for the biosciences in the Greater Phoenix metro area. Her focus is to identify prospects and regional investment expansion opportunities as they pertain to biotechnology and biomedical sectors. Previously, Allie was a Senior Consultant at Deloitte where she worked at the intersections of Biodefense, Life Sciences, and Federal Health. She advised on scientific policy related to National Security and Public Health for the NIH, CDC, and DoD. Allie also has previous experience working in defense intelligence acquisition and at a pharmaceutical CRO in GMP laboratories. She received her doctoral degree from George Mason University where she worked in biocontainment biosafety level-3 laboratories conducting mutagenesis studies with Select Agent pathogens. She possesses a BioMolecular Engineering undergraduate degree from the Milwaukee School of Engineering where she learned how to translate scientific principles for broad audiences. She is passionate about scientific journalism and is an active member of the National Association of Science Writers (NASW). In her free time, Allie is an avid book reader, loves to fish, and competes in local CrossFit competitions.

  Greater Phoenix Economic Council

  VP

  Allison Bakovic

  VP

  Greater Phoenix Economic Council

• Moderator

  Alexandra Loye

  Executive Managing Director

  Cushman & Wakefield