PEI BioAlliance is seeking a new CEO after long-time leader Rory Francis announced his retirement.

Founded in 2005, the PEI BioAlliance supports a bioscience cluster on the island of more than 60 companies with an annual combined revenue of over $600 million, which is expected to grow to $1 billion of revenue in 2030, the group said in a statement.

Francis has spent the last twenty years championing the development of the cluster. Most recently, he secured the investment to develop a $50 million BioAccelerator that will give local small and medium-sized enterprises access to the type of best-in-class facilities essential to compete in the global biomanufacturing market, the group said.

“We wish Rory, our tireless champion, all the best in his retirement and we recognize the pivotal role he has played in the success of so many life sciences companies. His talent to bring partners together and enthusiasm for business in the province will be missed,” said Charmaine Noonan, Chair of the Board of Directors, PEI BioAlliance.

“The sector thrived in PEI during Rory’s leadership of the BioAlliance and he can retire in the full knowledge that his legacy will be felt in the sector for years to come.”

The PEI BioAlliance Board of Directors has established a search team to find Francis’ successor and has appointed Oliver Technow, former Chair of the Board and former CEO of BIOVECTRA, to lead it.

The search will commence in January. Francis will continue to lead the PEI BioAlliance until the search has been completed.

Francis plans to retire mid-2025.

“It has been a privilege to work with so many amazing people across the BioAlliance partnership who have shared a vision to challenge the status quo, work beyond self-interest, and create impact in areas important to our Island community and the world around us”, said Francis. “The opportunities are limitless.”