December 8, 2008: Early-stage venture capital firm OVP Venture Partners (OVP) announced that venture partner Carl Weissman will expand his role at the firm, becoming a managing director in 2009.

Weissman joined the firm in Feb. 2007 to focus on investments in digital biology and the convergence of IT, nanotechnology, and biotechnology. He has continued to serve as president and CEO of Accelerator, a joint investment vehicle for a syndicate of venture capital investors identifying, investing in, and managing emerging biotechnology opportunities.

Beginning Jan. 1, 2009, Weissman will become a managing director at OVP. In conjunction, David M. Schubert, chief business officer of Accelerator Corp, will be promoted to president/CBO, and Weissman will become chairman/CEO with a continued active role in the identification, evaluation, and management of Accelerator companies.

“The opportunities in digital biology are tremendous,” stated Chad Waite, managing director at OVP. “Furthermore, there is no one quite like Carl Weissman to enable OVP to fully capitalize on these opportunities. His level of knowledge and experience at the nexus of medicine and technology is unsurpassed.”

OVP also announced today that managing director John Hull will leave the firm at the end of the year to pursue other interests. “After nearly a decade in venture, this felt like a good time to explore some of my other areas of interest,” said Hull. “While I’m leaving the firm, I’ll always consider OVP family and I look forward to seeing the firm continue to prosper.”

“John brought energy, enthusiasm and a lot of brainpower to OVP,” said managing director Gerry Langeler. “He will always be a friend and respected colleague. We are eager to support him in his future endeavors.”

OVP is currently investing its seventh fund. The firm has over $750 million in capital under management.

Carl Weissman expands his role at OVP.