Akston Biosciences Strengthens Board with Addition of John T. Preston
January 23 2023 - 08:25AM
Business Wire
Akston Biosciences Corporation, a clinical-stage biotechnology
company, today announced that John T. Preston, a founder of TEM
Capital, has joined its Board of Directors. A recipient of numerous
awards and previous advisor to several government agencies and
expert witness for Congress, Preston brings to Akston his decades
of experience in technology commercialization and intellectual
property licensing.
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John T. Preston, a founder of TEM
Capital, and a recipient of numerous awards and advisor to several
government agencies, has joined Akston Biosciences' Board of
Directors. During a long career at M.I.T., he handled the
successful negotiations of thousands of technology licenses.
(Photo: Business Wire)
Preston spent most of his career at the Massachusetts Institute
of Technology (MIT), managing the interface between researchers and
industry. His titles included Associate Director of the MIT
Industrial Program, Director of Technology Licensing and Director
of Technology Development. In those capacities, he supervised
activities that led to the creation of hundreds of new
technology-based companies as well as the negotiation of thousands
of licenses with existing companies.
He was awarded the rank of “Knight of the Order of National
Merit of France” by French President Mitterrand and the “Hammer
Award for Reinventing Government” by Vice President Gore. He
chaired George H.W. Bush’s conference announcing the President’s
technology initiative. Preston has assisted many startups including
Rivian Automotive, Puretech Ventures, Unity Aluminum, Vantem
Global, Eco Material Technologies / Green Cement Inc., and ExThera
Medical. He also has served as a director of four public companies,
including Clean Harbors, and as a Board Advisor to Mars
Incorporated.
“I am very interested in helping entrepreneurs with
transformative innovations that make a difference for society and
represent a significant leap over prior commercial practices,” said
Preston. “I look forward to helping Akston and its partners get
real products into the hands of those who need them most across the
globe.”
“Akston is at an inflection point, as we monetize the candidates
we have engineered for cost-effective, high impact biologic
pharmaceuticals,” stated Todd Zion, Ph.D., President & CEO of
Akston Biosciences. “John has a pragmatic approach to value
creation and we expect that his wealth of experience in licensing
and partnerships will be especially valuable to us in the coming
years.”
About Akston Biosciences
Akston Biosciences Corporation leverages its AmbifectTM Fc-fusion
protein platform to develop and manufacture new classes of
biologics, including vaccines, ultra-long-acting insulins, and
autoimmune disease therapies. Founded by the team that developed
the world’s first clinical glucose-responsive insulin at
SmartCells, Inc. (sold to Merck & Co.), Akston owns and
operates a cGMP biologics cleanroom facility that manufactures
kilogram-scale batches of drug substance. This, along with its
research and process development laboratories, are located at its
Beverly, Mass. location. Additional information is available at
www.akstonbio.com.
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Linda Pendergast-Savage Birnbach Communications for Akston
Biosciences 508-224-7905 lpendergastsavage@birnbachcom.com