Conscience Appoints Peng Fu as New CEO to Lead Expansion of Open Science in Drug Discovery

Conscience, a non-profit dedicated to advancing drug discovery and development through open science and collaboration, has appointed Peng Fu as its new Chief Executive Officer (CEO). The organization, known for its focus on addressing unmet needs in areas like rare diseases, neglected diseases, pandemic preparedness, and antimicrobial resistance, welcomed Fu effective immediately, following the departure of its inaugural CEO, Ryan Merkley, in early 2025. Anke Mueller-Fahrnow, Chair of Conscience’s Board of Directors, expressed enthusiasm about Fu’s appointment, highlighting his entrepreneurial mindset, investment expertise, and strong background in science and law. “Peng’s experience will be instrumental in guiding Conscience to the next stage of growth and expanding the impact of open science on drug discovery and development,” she stated. The organization aims to improve health outcomes globally by breaking down barriers in traditional drug development models and promoting the open sharing of knowledge and resources. Peng Fu brings a wealth of biotech and financial experience to Conscience. He is the founder of Novatio Ventures, an investment and advisory firm that supports the commercialization of early-stage life science innovations. Fu has also served on the boards of 3io Therapeutics and Precision Proteomics, both Canadian companies developed from technologies licensed by academic institutions. His previous roles include Managing Director and Partner at CBC Group and LYFE Capital, Vice President of Business Development at DRI Capital (now DRI Healthcare), and positions at Amgen Canada and Teva Pharmaceuticals. With an MSc in biology from the University of Toronto and a JD from Queen’s University, Fu’s credentials align closely with Conscience’s mission. Fu’s vision for Conscience emphasizes the importance of open science and artificial intelligence (AI) in drug discovery. “I am thrilled to join an organization that views science as a collaborative effort,” Fu said. “Conscience has already made significant strides in building a robust network and launching key initiatives, such as the CACHE Challenges and DMOS program. These efforts have laid a solid foundation, and I am eager to build upon them and expand our platform.” CACHE (Critical Assessment of Computational Hit-Finding Experiments) Challenges are designed to evaluate and improve computational methods used in early drug discovery. By providing standardized datasets and metrics, these challenges help researchers and developers refine their approaches and increase the efficiency of hit identification. The DMOS (Developing Medicines through Open Science) program, on the other hand, fosters collaboration among various stakeholders, including academia, industry, and public agencies, to accelerate the development of new drugs. Conscience’s approach is unique in its emphasis on inclusivity and transparency. Traditional drug development models often face obstacles due to proprietary issues and lack of collaboration. Conscience aims to overcome these barriers by creating an environment where ideas and data are freely shared, leading to more rapid and comprehensive drug discovery processes. This approach is particularly vital for addressing diseases that are often overlooked by for-profit entities because they affect smaller populations or offer limited financial incentives. The organization has also been proactive in policy development, advocating for changes that facilitate open science and collaboration. Conscience’s efforts extend beyond just research and development; they aim to create a sustainable ecosystem where advancements can be made consistently and equitably. By leveraging AI and fostering a community of collaborators, Conscience hopes to make significant strides in improving health outcomes for underrepresented patients. Industry insiders view Fu’s appointment as a positive step for Conscience. His background in both finance and biotech is seen as crucial for the organization’s goal of scaling its operations and impacting more areas of unmet medical need. Fu’s experience in commercializing early-stage technologies and his legal expertise in life sciences are expected to enhance Conscience’s ability to navigate complex regulatory environments and secure funding for its ambitious projects. Conscience is poised to continue its mission under Fu’s leadership, leveraging the strengths of its existing network and expanding its reach. The organization remains committed to making drug discovery a more inclusive and collaborative process, ensuring that no patient is left behind. To learn more about Conscience and its ongoing initiatives, visit www.conscience.ca. In summary, Peng Fu's appointment as CEO of Conscience represents a strategic move to strengthen the organization's capabilities and expand its impact in the realm of drug discovery and development through open science. His multifaceted expertise in biotech, finance, and policy-making positions him well to lead Conscience into a new era of innovative and collaborative approaches, potentially addressing some of the most challenging and neglected areas in healthcare.