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OrbiMed Founder Isaly Steps Down After Sexual Harassment Report

Xconomy New York — 

Sam Isaly, managing partner of OrbiMed Advisors, is stepping down from the company. OrbiMed, a leading healthcare investment firm founded by Isaly, made the announcement Thursday, two days after Stat published a report of sexual harassment allegations from former OrbiMed employees against Isaly. According to OrbiMed’s statement, Isaly will be replaced by a committee of partners: Sven Borho, Carl Gordon, and Jonathan Silverstein.

Islay has denied the allegations to Stat, and yesterday’s statement from OrbiMed made no reference to them. The company said Isaly’s move was “pursuant to years-long succession planning discussions.” However, Isaly reportedly said to Stat earlier this week that there was “no planned date” for his retirement.  Stat has also reported that three of OrbiMed’s clients were seeking more information from the firm about the allegations.

Isaly said in the statement: “I am extremely proud of what my distinguished partners and I have accomplished at OrbiMed and the difference we have made in the lives of patients worldwide. OrbiMed is a strong and vibrant company positioned for continued growth and this is a good time for me to pass the baton to the next generation of leaders.”

For more, see our earlier article.