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4th May 2023
Wayne, PA – Veranova announced today the appointment of Mike Riley as the company’s Chief Executive Officer. In this capacity, Mr. Riley will assume responsibility for Veranova’s global business, effective Monday, May 8, and will report directly to the Veranova Board of Directors (the Board).
Over the past two years, Niek Stapel has led the business through its sale from Johnson Matthey (LSE: JMAT) to Altaris, LLC (collectively with its affiliates, “Altaris”) and subsequent re-branding and launch as Veranova. Altaris and the Board thank Mr. Stapel for his service and contributions to Veranova through a period of significant change and transition, and wish him well in his future endeavors.
Mr. Riley is a seasoned executive, with over 25 years of professional experience, of which nearly 19 years have been spent in the pharmaceutical contract development and manufacturing operations (CDMO) industry building, leading, and growing global businesses. Most recently, Mr. Riley served at Catalent, Inc. (NYSE: CTLT) as President of the Biotherapeutics business, a multi-site business unit with 6,500 employees and revenue over $1B.
Mr. Riley’s extensive knowledge of the life-sciences and CDMO industry, experience delivering innovative solutions to the pharmaceutical industry, and his proven track record of growing businesses make him ideally suited to lead Veranova as it prepares for its next phase of growth. The Board welcomes Mr. Riley and is excited about working with him to continue to build Veranova into a world-class CDMO.
Veranova is a global leader in process development and manufacturing of APIs, with a focus on specialty and complex products. Veranova is headquartered in Wayne, PA and has operations in North America, Europe and Asia.
Altaris is a healthcare investment firm with an exclusive focus on building companies that deliver value to the healthcare system through innovation and efficiency. Since inception in 2003, Altaris has invested in 50 healthcare companies which have generated significant value appreciation for investors. Altaris is headquartered in New York City and manages approximately $5.0 billion of equity capital. For more information, please visit www.altariscap.com
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