IE Business Daily Business news for the Inland Empire.
Molly Schmid has been named vice president of ieCrowd’s Life Science Business Group.
Schmid will assist the Riverside company in its main function, which is to buy intellectual property from universities and convert them into market-ready products, according to a company statement.
ieCrowd also plans to license its product designs and technologies to larger partners, who will then manufacture and distribute them and sell them at scale, according to the statement.
The company incorporated in June as Innovation Economy Corp. after raising $2.2 million in seed money from several anonymous investors.
“The new Life Science Business Group, with Molly as its lead, will play a critical role in supporting our overall life and health commercialization efforts,” said Amro Albana, ieCrowd’s chairman and chief executive officer, in the statement.
