Finance/Insurance: PAUL B. MANNING
CHAIR AND CEO, PBM CAPITAL GROUP LLC, CHARLOTTESVILLE
Founded by Manning in 2010, PBM Capital is a health care-focused private equity firm that invests in companies in the pharmaceutical and life sciences industries. The firm’s investment portfolio includes numerous companies, including Xalud Therapeutics Inc., a clinical-stage biotechnology startup developing a nonviral gene therapy platform to treat pathologic inflammation; Acumen Pharmaceuticals Inc., a company developing targeted therapies for treatment of Alzheimer’s disease; and Verrica Pharmaceuticals Inc., a dermatology therapeutics company developing VP-102, a product to treat the skin disease molluscum.
Manning founded PBM Capital after selling infant formula company PBM Holdings Inc. for about $808 million to Perrigo Co. plc in 2010.
He’s also known for his philanthropy. In February, the University of Massachusetts Amherst announced Manning and his wife, Diane, had committed $3 million to expand its Manning Innovation Program, which supports research. The couple also have contributed more than $6 million toward diabetes and COVID-19 research at UVA Health and the University of Virginia.
A Massachusetts native who holds a bachelor’s degree in microbiology from UMass, Manning has served on the boards of the UVA Health Foundation, the U.Va. Strategic Planning Committee and the U.Va. President’s Advisory Committee.