Ann Arbor, MI – Akadeum Life Sciences, the global leader in buoyancy-based cell separation, have today announced Jim Militello as their new Chief Financial Officer (CFO), effective September 12, 2023. Jim will play a key role in overseeing the fundraising, financial analysis and strategic planning of Akadeum as it continues its rapid growth in a market set to surpass $11.6bn by 2030.
With a career spanning over 30 years, Jim offers a wealth of experience in finance and operations across various business sectors, including over 20 years in the biotechnology field. Before joining Akadeum, Jim served as CFO of PinPoint Testing, Swift Biosciences and Cayman Chemical. While in the CFO role, Jim has successfully completed three divestitures to companies such as Danaher and Bruker, and has raised over $100m in equity and debt financing.
Prior to becoming a CFO, Jim held roles of progressing responsibility such as Vice President of Financial Planning and Analysis, Chief Accounting Officer, and Plant Controller, and during his career has been involved in acquiring over 50 companies and divesting four companies. Jim has a B.A. in Accounting from Michigan State University and holds the titles of Certified Public Accountant (CPA) and Chartered Global Management Accountant (CGMA).
Brandon McNaughton, Ph.D., CEO of Akadeum, commented on the appointment: “Jim’s wealth of financial and strategic expertise will play a crucial role in Akadeum reaching and surpassing our ambitious growth plans. As our products move towards clinical trials, Jim will be instrumental in the realization of Akadeum’s vision of accessible cell therapy and meaningful diagnostic results.”
“As a people-first organization, Jim’s demonstrated track record of building successful companies aligns with Akadeum’s mission and values. His support will allow us to build on our recent $17.5 million Series B round as we head towards Series C.”
Jim Militello added: “People are the backbone of scientific advancement, and I am excited to be working alongside the brightest minds in cell separation to improve patient outcomes for millions around the world.”
“Akadeum’s proprietary microbubble-based technology and portfolio of groundbreaking intellectual property has positioned them as the most exciting leader in cell separation today. As they head towards Series C funding, I am extremely excited to bring my past experiences to the team in order to generate the liquidity needed to build a successful company with explosive revenue growth and profitability.”
For more information, visit https://www.akadeum.com/products/.
About Akadeum Life Sciences, Inc.
Akadeum Life Sciences was formed to solve long-standing sample preparation problems in research, diagnostics, and cell therapy markets with a novel flotation-based target isolation platform technology. Without the critical step of separation (isolating biological targets like DNA, proteins, or cells from biological samples), many diagnostics and therapies would not be possible.
More than a solution to a single problem, this elegantly simple platform technology is disrupting the separation market—from nucleic acid extraction to cell isolation. Akadeum was the first to commercialize BACS™ (buoyancy activated cell sorting) Microbubble kits for cell isolation applications. In parallel, Akadeum is also establishing industry partnerships. Akadeum’s kits are for research use only.
Inquiries into Akadeum’s products, technology, or partnership opportunities can be made at [email protected].