NimbleGen names CFO with capital-raising past

Madison, Wis. - NimbleGen Systems, Inc., a supplier of DNA microarrays for genome research, has appointed a new chief financial officer with experience managing large entrepreneurial growth companies.

David Snyder brings more than 15 years of experience in capital raising, finance, and general management in a range of industries, including technology, real estate, and diversified manufacturing.

In a statement released by NimbleGen, President and CEO Stan Rose pointed to Snyder's "solid" knowledge of Wall Street. "We're absolutely delighted to have someone of David's caliber join the NimbleGen team," Rose said.

Snyder was brought on board to help “take the company to the next level” as it continues its rapid growth, Rose said in an interview. NimbleGen grew threefold in 2004 and that rate has continued into this year.

“Strategic financial planning is a critical component of a successful company,” Rose said. “And we need to be thinking about a full range of opportunities to finance our growth.” Snyder, who has already secured a substantial credit line for NimbleGen, will take the place of the company’s former CFO, whose name, confusingly, is David Snider. Snider “made tremendous contributions to the company during its formative stages,” Rose said, but moved on to pursue other activities.

Prior to his appointment to the position, Snyder worked as a private consultant for a number of entrepreneurial start-ups. Before that, he worked for The Cobalt Group, a publicly traded Internet software company specializing in marketing for the automotive industry.

Snyder also served as CFO for Strategic Hotel Capital, a publicly traded hotel asset management firm sponsored by Goldman Sachs that grew to $3 billion in assets, and Mark Controls, a company traded on the Nasdaq.

In addition, Snyder worked for Eagle Industries, Inc., a diversified manufacturing company sponsored by Chicago entrepreneur Sam Zell. Eagle Industries grew to nearly $2 billion in revenue.

Snyder graduated from the Harvard Business School, where he was designated as a Baker Scholar.

In its latest round of venture financing, NimbleGen raised $8.2 million and has raised $50 million overall. At that time, Rose commented on the rapid growth of the company in recent quarters.

Related stories

• NimbleGen partners with leading researchers

• NimbleGen closes $8.2m venture round, bringing total to $50m

• NimbleGen identifies human genome sequences

• NimbleGen presents new tech for comparing microbe DNA

• NimbleGen to be part of new cancer study