Seattle | Nov. 15, 2016

FOR IMMEDIATE RELEASE: Seattle | Nov. 15, 2016 : IDRI (Infectious Disease Research Institute)

IDRI (Infectious Disease Research Institute) has named Steve Cordial, a financial executive with expertise in both nonprofit and corporate arenas, as its Chief Financial Officer. A member of IDRI’s Board of Directors, Cordial served as interim financial leader for the organization since May and was named to the CFO position after an extensive search. In his role as CFO, Cordial will oversee all aspects of financial operations and serve as a member of IDRI’s leadership team.

“We are fortunate to have someone of Steve’s depth of experience and commitment join the IDRI team,” said Steven G. Reed, Ph.D. “This is especially gratifying given Steve’s in-depth knowledge of IDRI.”

Reed, who founded IDRI in 1993 and served as its president, was recently named as the organization’s Chief Executive Officer by its Board of Directors. In his new role, Reed will focus on seeking new scientific opportunities and partnerships. Additionally, IDRI will name a Chief Scientific Officer to oversee management of scientific operations; Reed, who had previously served in this capacity, will continue as interim CSO until that position is filled. In addition to founding IDRI, Reed co-founded Corixa Corp., which was later sold to GlaxoSmithKline, as well as Immune Design Corp.

“I’m pleased to be joining the IDRI team as I’ve gotten to know IDRI quite well over the past few months and have developed a high regard not only for the organization’s mission, but also the people who are striving to fulfill that mission,” said Cordial. “As IDRI has grown over the past few years, its business model has evolved to include large-scale partnerships and technology transfer. My job is to ensure that all the people, systems and processes are in place to support IDRI’s future success.”

For the past 11 years, Cordial has served as president of Steve Cordial Consulting, where he has provided interim financial leadership support for a variety of companies, ranging from a private-equity owned personal care company with more than $400 million in revenues to a $29 million per year venture-backed telecom equipment manufacturer.

Prior to starting his own firm, Cordial served as CFO and CEO at Somera Communications, CFO at Nexsi Systems, CFO at Xylan Corp. and CFO at Sierra Semiconductor. He started his career as a Division Controller at Texas Instruments.

Cordial holds a BA in economics from Stanford University and an MBA from Santa Clara University. Working as a community volunteer, he has developed experience in nonprofit accounting. He serves as a partner at Social Venture Partners Seattle and hold board positions at TeamChild and at the Kindering Center, where he serves as treasurer and as a member of the advocacy and governance committees.

 

About IDRI

As a non-profit global health organization, IDRI (Infectious Disease Research Institute) takes a comprehensive approach to combat infectious diseases, combining the high-quality science of a research organization with the product development capabilities of a biotech company to create new diagnostics, drugs and vaccines. IDRI combines passion for improving human health with the understanding that it is not just what our scientists know about disease, but what we do to change its course that will have the greatest impact. Founded in 1993, IDRI has 125 employees headquartered in Seattle with nearly 100 partners/collaborators around the world. For more information, visit www.idri.org.

Contacts:

IDRI: Lee Schoentrup | 206.858.6064 | lee.schoentrup@idri.org