Serial life science entrepreneur Max Wallace takes on new challenge

Research Triangle Park, N.C. — Max Wallace is stepping out of what he called” semi-retirement” to take on another entrepreneurial executive role.

Wallace, one of the best-known serial entrepreneurs in the Triangle’s blossoming life science industry, is stepping down as part-time CEO of startup TheraLogics. His focus as of Aug. 1 will be as CEO of the Accelerate Brain Cancer Cure foundation.

However, Wallace will not be leaving the Triangle. He plans to run the foundation from his home and will remain involved with TheraLogics as an inactive board member. He also will remain a shareholder in the University of North Carolina spin-out, he told WRAL Local Tech Wire in an interview Monday.

“I have been an active follower of the organization since I was head of Cogent Neuroscience,” Wallace said of the foundation. Contacted by a headhunter about the foundation’s position, the former CEO of Cogent said his interest was piqued immediately.

“I have never lost a family member to brain cancer, but I have lost a number of close friends,” he said. “They are very aggressive with a focus on funding for brain cancer research. There are only 15,000 cases a year, and that’s not a very large market for the big pharmaceutical companies.”

The foundation, which goes by the acronym ABC2, was launched by Steve Case, the founder of America Online, whose brother Dan died of brain cancer.

“Max brings a depth and breadth of experience and passion that can lead ABC2 towards its mission of supporting breakthrough research to hasten the discovery of a cure for brain cancer,” case said in a statement. “His ‘for-profit’ mindset is the type of leadership that can guide the organization towards its goal of bringing more treatments to more patients faster, stimulate research and development, and support the discovery of new therapies for brain cancer.”

TheraLogics is also focused on cancer, seeking to develop anti-cancer biopharmaceutical drugs.

“I will stay involved with TheraLogics because what they are doing is very important,” Wallace said. “Their work dovetails very nicely with what the foundation is doing.”

In addition to Cogent, Wallace has been involved in Trimeris, Sphinx Pharmaceuticals and SARCO. He also has been actively involved in the Institute for Emerging Issues Forum at N.C. State University. A Duke University graduate, Wallace received a law degree from the University of Florida in 1977.

“I am thrilled by the opportunity to help take ABC2 to the next level of growth and leadership in supporting promising new research and treatments in the effort to cure brain cancer,” Wallace said in a statement about taking the new position. “For over 20 years I have been dedicated to the discovery of effective new drugs to treat cancer, HIV/AIDS and other major diseases. The mission of ABC2, its commitment to innovation and to new models of collaboration among the many players dedicated finding a cure to brain cancer, is one I share and one I am anxious to move forward”