Charlottetown-based PEI BioAlliance has appointed Lauren Ledwell its new Chief Executive Officer.

Ledwell brings extensive experience in business transformation, venture capital, and system innovation to the sector, the industry group said in a press release.

She will succeed founding CEO Rory Francis who announced that he would retire in 2025.

“Lauren Ledwell’s leadership in the innovation economy as a tech entrepreneur, investor, and mentor is a significant asset for the continued growth of our sector,” said Charmaine Noonan, Chair, Board of Directors.

The Board of Directors appointed Ledwell, who recently returned to her home province, after conducting a six-month search to find the next leader of the group. 

“I’m thrilled to join the PEI BioAlliance and to build on the tremendous momentum of this respected bioscience cluster organization,” said Ledwell.

“I’m looking forward to working alongside the talented BioAlliance team, regional and national cluster organizations, and with all partners that have shaped PEI’s thriving bioscience sector to date. Together, we’ll continue advancing innovation, accelerating growth, and championing leadership in the bioeconomy.”

Most recently Ledwell worked with Sandpiper Ventures, spearheading Seed and Series A investments in inclusive, high-growth Canadian tech companies. She previously held senior roles at Manulife, RBC, and Maple Leaf Foods, and served as CEO of discoverygarden..

She co-founded the Atlantic chapter of Women’s Equity Lab and serves as founding Chair of the Board for the PEI IT Alliance. She is a mentor with Creative Destruction Lab and Emergence and was also recently appointed a Board Director of Venture for Canada. Ledwell holds an MBA from the Rotman School of Management and has completed executive education at Ivey Business School and BI Norwegian Business School, the statement said.

The PEI BioAlliance celebrates its 20th anniversary this year.

In February, the group announced island bio sector revenues rose 84 percent in five years. The study of 50 bioscience sector companies based on 2023 business performance showed the sector making impressive progress.

“Through the aligned efforts of business, academia, research, and government partners, the P.E.I. bioscience cluster has surpassed 2025 growth targets and is well on its way to becoming a billion-dollar industry by 2030,” the BioAlliance said at the time.

Outgoing CEO Rory Francis is credited with being a catalyst in PEI’s bioscience industry, nurturing a cluster of 50 companies that combined generate $612 million in annual revenue and $460 million in exports, the group said this week.

“Rory’s vision and tenacity have transformed the bioscience landscape in Prince Edward Island and across the region,” said Charmaine Noonan, Chair of the Board of Directors. “He built not just an organization, but a model for what regional innovation and collaboration can achieve. His legacy of economic leadership and deep community impact will carry on—and we are incredibly grateful for his service.”

The group is planning an event to celebrate Francis’s contribution. Details will be announced at a later date.