Fred Craves, Ph.D., is the Founder and a Managing Director of Bay City Capital. Before founding Bay City Capital, he spent over 20 years leading and managing biotechnology and pharmaceutical companies. Previously, he was Executive Vice President of Schering Berlin and Chief Executive Officer and President of Berlex Biosciences, a research, development, and manufacturing organization. He founded Burrill & Craves, a merchant bank focused on biotechnology and emerging pharmaceutical companies. He was also the founding Chairman of the Board and Chief Executive Officer of Codon, and co-founder of Creative Biomolecules. Dr. Craves is a member of the boards of directors of Madrigal Pharmaceuticals, Synchronicity Pharma and Twist Bioscience. He also serves as a member of The J. David Gladstone Institutes’ Advisory Council. Dr. Craves earned a B.S. in Biology from Georgetown University and a Ph.D. in Pharmacology and Toxicology from the University of California, San Francisco.