RESEARCH TRIANGLE PARK, N.C. , Oct.
21, 2024 /PRNewswire/ -- It is with deep sadness that Pappas Capital announces the passing of Senior Venture Partner Dr. Ernest Mario . Ernie Joined Pappas Capital in 2002 as a member of the firm's Scientific Advisory Board, becoming a Senior Venture Partner in 2011.
He was a friend and mentor to the entire Pappas team and his counsel and legacy will always remain with us. Ernie's career in the pharmaceutical industry began in 1966 as a researcher at Strasenburgh Laboratories in Rochester, NY . He later held various management positions within SmithKline and Squibb Corp.
, overseeing operations, quality control, and manufacturing. He was elected to the Squibb Board in 1984. He joined Glaxo in 1986, and subsequently served as Chief Executive and Deputy Chairman, during which time he oversaw the launch of five major brands that grew the company's sales and profits by nearly 15 percent annually, as Glaxo became the second-largest pharmaceutical company in the world.
In 1993, Ernie joined Alza Corporation as CEO, where he led what was then one of the largest mergers in pharmaceutical history, in excess of $11 billion , with Johnson & Johnson. He went on to serve as Chairman and CEO of Reliant Pharmaceuticals, which was acquired by GlaxoSmithKline. In 2007, Ernie joined Soleno Therapeutics (formerly Capnia) as Chairman and CEO, and served as Chairman until his resignation due to health issues this past summer.
He previously served as a director f.