You never know where life is going to take you. In Jim Powers’ case, it’s back to the place where he learned his craft more than 30 years ago.

It was in the mid-1980s when Powers joined University Technology Corp, a launching pad for life science businesses based on technology developed at the University of Virginia.

While at UTC, Powers began to learn how to be an entrepreneur. Years later, he met two UVA biomedical engineering researchers who co-founded HemoShear Therapeutics, where Powers would spend 13 years.

Today, Powers’ career has come full circle.

In November, Powers came aboard as an entrepreneur in residence at the UVA Licensing & Ventures Group, joining a star-studded group that includes Kevin Combs, Andrew Krouse, Mike Raker, Helen Boyd, Leslie Williams, Jeff Tennery, Dr. Jeff Meyers and Robin Hume.

“Jim’s background and experience with advancing innovation toward the market will be a huge asset in mentoring faculty entrepreneurs as they grow, as well as in our overall mission of commercializing research and technology from the University,” UVA LVG Seed Fund Managing Director Bob Creeden said.

Powers, who has more than three decades of experience launching and building life science companies, is thrilled to have the chance to work with UVA entrepreneurs.

“I have the UVA research community to thank for my career at HemoShear,” Powers said. “I’m looking forward to sharing the hard lessons and winning characteristics from my experiences.”

As chairman and CEO, Powers led HemoShear’s transformation from a human disease modeling research and development services company to a drug discovery and development company that now has a multi-product pipeline of rare disease programs in areas of high unmet need.

HemoShear’s lead asset is currently in Phase 2 studies for the treatment of methylmalonic acidemia and propionic acidemia – severe metabolic disorders in which the body can’t break down certain proteins and fats.

“I am very proud that we have validated the platform by discovering our own proprietary new drug pipeline, as well as advancing successful drug discovery partnerships with Takeda and Horizon Therapeutics,” said Powers, who recently retired from HemoShear. “I am even more proud that we have an investigational drug in clinical studies for methylmalonic academia and propionic academia, two devastating inherited diseases that have no meaningful therapeutic for patients.” 

Prior to HemoShear, Powers spent 18 years as executive vice president of PRA Health Sciences, which is now part of ICON, a leading pharmaceutical contract research organization. He recruited all its early operations leaders, launched its cancer trials focus and was a member of the executive team that took PRA public in 2004. 

Powers has served on several boards and is currently chairman of the Virginia Bioscience Foundation, a 501(c)(3) not-for-profit organization that promotes interest among K-12 students in bioSTEM studies and careers, with a particular focus on minority and disadvantaged students.

Powers is looking forward to his time at LVG.

“Along my journey, I have seen universities become more accepting of industry collaborations and launch their own venture and similar investment vehicles to advance university innovations,” he said. “I would be pleased to contribute here.”