Life science entrepreneur, investor,and philanthropist Peter N. Allison passed away unexpectedly in Scottsdale, AZ on December 22, 2015.
Allison was president and founder of IDM LabTrack™ Inc. and IDM AgriTrak™ Systems LLC in Scottsdale. In 1998, he founded and served as managing director of Biogenesis Investment Group LLC, and BGS Funds I and II, a health-care investment company providing funding to early-stage biotechnology, medical device and diagnostics companies. He served as the managing member of IDM Technologies LLC Fund I and formerly was a director of the BioAccelerator Fund I LLC.
“Peter was a dear friend and business colleague. His optimism in life was a joy to be around,” shared MaryAnn Guerra, chairman & co-founder of BioAccel. “His contributions to BioAccel on the Board were provided with passion and dedication. His knowledge and vision for science and commercialization was outstanding and will be sorely missed.”
In February of 2015, following a national search, Allison was appointed senior director for technology innovation at the Arizona Health Sciences Center at the University of Arizona. The position was responsible for providing leadership in connecting AHSC research faculty and programs with commercial partners
“We are deeply saddened at the sudden loss of our colleague Peter Allison, a brilliant and savvy biotech entrepreneur and business executive,” shared Joe G.N. “Skip” Garcia, MD, University of Arizona senior vice president for health sciences. “In his role as senior director for technology innovation at the University of Arizona Health Sciences, he brought more than 30 years of experience in biotechnology, business management, venture capital, real estate, and investment banking. We so regret that his time at the UA Health Sciences was brief, for he was diligently working with UA faculty-researchers and business partners to develop our world-class intellectual property into commercial applications to benefit patients in our state and beyond. Our thoughts and prayers go out to his family at this difficult time.”
Over his career, Allison served on many academic boards, including the University of Washington School of Public Health at the School of Medicine in Seattle and the Gonzaga University (Spokane, Wash.) Board of Regents. In Arizona he shared his expertise with service on the boards of the Arizona Bioindustry Association (2011-2012), BioAccel (2012-2015) and the Phoenix Symphony (2014-2015).
“Peter Allison was passionate about both the growth of our bioscience industry and entrepreneurship,” shared Joan Koerber-Walker, president & CEO of the Arizona Bioindustry Association. “He was often found sharing his experience with local leaders one-on-one and with broader audiences as a speaker and author of articles including Putting a price on biotechnology which he co-authored with Jeffrey J. Stewart, and Ronald S. Johnson and was published in Nature.” (Nature Biotechnology 19, 813 – 817 (2001)
Allison had over 30 years of experience in business management, venture capital and debt and equity placement. His background covered a broad spectrum, including real estate investment and development with more than 1 million square feet of commercial space—ranging from shopping centers and warehouses to apartment and office buildings—in the Seattle metropolitan area prior to the move of IDM Technologies Group’s headquarters to Phoenix in 2010. He was is active in oil and gas technology and production in Texas with Petexas Inc., founded in 1993. His 25-year investment banking career included more than $200 million equity and debt placement and more than $1 billion in mergers and acquisitions activities. He also has served in several national advisory capacities.
Peter N. Allison received a Bachelor of Arts in economics from the University of Washington and a Juris Doctor (law) degree from Seattle University.