PALO ALTO, Calif. & SAN DIEGO--(BUSINESS WIRE)--The California Healthcare Institute (CHI), a nonprofit, public policy research organization representing leading California academic institutions, biotechnology, medical device, diagnostics and pharmaceutical firms, and the Bay Area Bioscience Association (BayBio), the association for the Northern California life science community, today announced that the two organizations have signed a letter of intent to merge their operations into a newly created organization, to be called the California Biomedical Innovation Alliance (CBI), representing the entire biomedical ecosystem of the state of California in one organization. The merger of the two organizations is expected to be completed by end of the first quarter of 2015.
Rick Winningham, chairman and chief executive officer of Theravance BioPharma and chairman of CHI, will become the initial chairman of CBI upon completion of the merger. Hal Van Wart, Ph.D., president and chief executive officer of CymaBay Therapeutics and chairman of BayBio, will become the initial vice chairman of CBI.
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