CEO of bioscience nonprofit CID4 to step down

AURORA – Kevin M. Smith will step down from his position as president and chief executive of the Colorado Institute for Drug, Device and Diagnostic Development, also known as CID4, on Dec. 31.

The nonprofit bioscience charity has formed a search committee to find a new CEO, CID4 board Chairman Steve Orndorff said. Smith will be available through February to assist during the transition.

“With the ongoing changes in the healthcare and life science sectors, CID4 is revisiting how it can best support our industry,” Orndorff said.

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Smith was part of a group that established CID4 in 2009. He previously worked as president of Gambro Inc., the U.S. holding company for Gambro AB, a Swedish medical device and health care services company.

CID4 says it has invested about $3 million into nine early stage companies that have created 85 jobs and raised an additional $30 million.