Karl Deonanan appointed Chief Financial Officer
Matt DeZee named to newly established role, Chief Transformation and Strategy Officer
Bethesda, Md., October 23, 2024—Precision Medicine Group (Precision), a leading next-generation provider of drug development and commercialization services, today announced key leadership changes to support its next phase of growth. This includes the appointment of Karl Deonanan as Chief Financial Officer (CFO). Mr. Deonanan succeeds Matt DeZee, who has served as CFO of Precision since 2020 and will be transitioning to the newly created role of Chief Transformation and Strategy Officer (CTSO), effective immediately.
“Since its inception in 2012, Precision’s success has been enabled by its people – a global team of experts spanning the clinical through commercial continuum who are committed to delivering innovative, best-in-class services to support life science organizations from molecule to market,” said Margaret Keegan, Chief Executive Officer of Precision. “With today’s appointments, we are bolstering our executive leadership team – and welcoming an experienced financial leader with a proven track record of scaling high growth organizations. I look forward to Karl and Matt’s contributions as we continue to grow Precision and strategically assimilate the next wave of technological advancements to improve the development, manufacture and launch of new life-changing medicines.”
In their new roles, Mr. Deonanan will be responsible for all finance and accounting functions, and Mr. DeZee will lead strategic growth and operational optimization, enhancing how Precision serves a global suite of clients. Both have oversight across Precision’s two groups: Precision for Medicine, the premier provider of biomarker-driven clinical research and development, including integrated lab and clinical trial services; and Precision AQ, the foremost provider of commercialization services supporting life science organizations from launch through product maturity.
Karl Deonanan, Chief Financial Officer
Mr. Deonanan joins Precision with nearly 30 years of finance and accounting experience and over 20 years leading life science services organizations. Most recently, he was CFO at ProPharma Group, a multi-unit life science services organization and, before that, he held executive-level financial leadership roles at X-Chem, Inc., Synteract and IQVIA. In these roles, Mr. Deonanan led organizations ranging in size from $100 million to $3.5 billion in revenue with up to 30,000 employees across over 60 countries, partnered with both private and public investors and led complex systems implementations, innovative strategic partnering arrangements and initial public offerings. Mr. Deonanan holds an M.S. in Accounting from East Carolina University and a B.S. in Accounting from the University of North Carolina Wilmington.
Mr. Deonanan commented, “I could not be more excited to join Precision at this inflection point in the company’s history. Precision has built a truly unique platform pointed at the future of both drug development and commercialization. I look forward to contributing to the next generation of innovation for our clients and the patients they serve.”
Matt DeZee, Chief Transformation and Strategy Officer
A member of Precision’s founding team, Mr. DeZee served as Corporate Development Officer for eight years before becoming CFO in 2020. Prior to joining Precision, he held leadership roles at United BioSource Corporation (UBC,) a global team of 1,300 scientists, researchers, clinical data managers and reimbursement experts focused on generating real-world evidence in support of drug manufacturers and patients worldwide. Throughout his time at Precision, Mr. DeZee has played a key role in architecting the organization’s growth, leading M&A, global geographic expansions and digital transformation. He holds a B.A. in Economics from the University of Maryland.
Mr. DeZee added, “When we started this company in 2012, we knew there was an unmet need for innovators developing the next generation of treatments. Operational optimization and digital transformation help us provide the speed our clients are seeking. I’m excited to lead the adoption of new technologies to enhance and expand our solutions to accelerate the development and commercialization of new therapies.”
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About Precision Medicine Group
Formed in 2012, Precision Medicine Group is a specialized services company supporting next-generation approaches to drug development and commercialization. Precision provides an integrated infrastructure that supports pharmaceutical and life science companies as they develop new products in the age of precision medicine. The company is headquartered in Bethesda, Maryland, with offices throughout North America, Europe and Asia. For more information, visit precisionmedicinegrp.com.
Media Contact:
Contact
Hannah Deresiewicz
Precision AQ
hannah.deresiewicz@precisionaq.com