Nina Nashif
This post has been updated with comments from Healthbox chairman Nick Rosa.
Nina Nashif, who has served as the CEO of Healthbox since she founded the accelerator more than five years ago as part of an initiative by venture capital firm Sandbox Industries, has left the business. A spokesperson confirmed by phone that she left the organization last month.
The move follows the departure of Rock Health’s founder Halle Tecco and comes at a time when several accelerators are changing or re-examining their business model.
Earlier this year Healthbox, which is headquartered in Chicago, earned a second tier place in the annual Seed Accelerator Rankings Project.
At the time of Nashif’s departure, the accelerator managed several programs split between the U.S., Europe and Israel. Among the cities where it has had a presence are Boston, Chicago, Los Angeles, Miami, Nashville, Orlando, Salt Lake City, London and Tel Aviv. It also has a foundry program to help hospitals identify commercialization opportunities from within, such as with Intermountain Healthcare System.
Last year, Healthbox tweaked its accelerator model, rebranding its program Healthbox Studios. The accelerator also ended its practice of taking 2 percent to 5 percent equity stakes in companies, shortened its eight-week program and added more flexibility. It currently has an equity stake in more than 70 companies and has had at least three exits, a spokesperson confirmed.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Earlier this year, a Form D was filed with the U.S. Securities and Exchange Commission for a fund called Healthbox Opportunity Fund 1, LP, but Healthbox had declined to comment on it.
Update In a brief phone interview, Healthbox chairman Nick Rosa said Nashif left to pursue her own interests. He said that the search for a new CEO would start from within the business before it looked outside. He said Healthbox has constantly reviewed and tweaked its programs since its launch. Rosa noted that Healthbox was working with other hospitals and health systems to build on its consultancy business to help hospitals identify and assess the viability of innovative ideas.
Referring to its accelerator, Rosa said: “We have experimented a lot, and we’re not sure what will be the end result.” Commenting in general on accelerators he added, “No one has cracked the code.”
