Before being appointed in Modular, Mr Grimm was the senior vice president and chief financial officer of Prospect Therapeutics. In addition he has held executive management positions at NitroMed and Genetics Institute.
Modular said that Mr Grimm has over thirty years of financial, business development and operational management experience, primarily in the life sciences industry.
Kevin Jarrell, president and CEO, said: “We are delighted that Joe is joining Modular to guide fundraising activities as we advance our pipeline of ‘green chemistry’ products towards commercialization and seek new partnerships as we leverage our proprietary core technology.
“Joe brings a wealth of knowledge and business experience and is an important addition to our team of pioneering biological engineers.”
Mr Grimm said: “I believe that the company is well positioned to create substantial shareholder value as it delivers on the promise of manufacturing specialty chemicals from inexpensive, renewable raw materials as an alternative to the petrochemicals used today.”
Modular is a sustainable chemistry company applying its advanced technology in synthetic biology to design and develop bio-engineered microorganisms that convert underutilised agricultural plant residue into high-value specialty chemicals.
Modular said that its mission is to use biotechnology to produce useful chemicals that are safe, environmentally friendly and manufactured responsibly.