About Portage Biotech

Portage Biotech Strategy

Portage Biotech, Inc. is a pharmaceutical company that identifies, finances, and develops best-in-class or first-in-class early-to-mid stage products.  Portage chooses products with established scientific rationales and either creates management teams to develop these assets or augments a company’s existing management teams.  Portage creates much of its value by developing pre-proof of concept assets through proof of concept (POC).  Big Pharma is generally interested in acquiring or licensing assets only after POC.

Through Management’s extensive experience within Pharma, Portage is able to access a broad network of drug development professionals who through experience can determine the optimum development pathway for each compound, skewing the Portage’s risk/reward profile.  Management have over 80 combined years of experience in biotech, have overseen the development of 5 separate billion-dollar drugs, have built multiple companies valued in excess of 10 billion dollars, have taken 4 companies public, and have executed numerous multi-million dollar licenses with Big Pharma. Furthermore, Portage have access to an associated network of talent familiar with latest scientific and medical developments that can be brought into the development programs.

Portage selects products that can be de-risked by carefully designed and often inexpensive clinical trials that either establish an attractive product profile or terminate the development program. Since Portage invests in a portfolio of products, it is incentivized to terminate non-performing development programs early in order to divert capital to successful programs or new opportunities. Portage’s business model relies upon adding value to its portfolio through operational support as well as capital and has the flexibility to deploy part-time or full-time expertise for each investment based on the unique requirements of that project. Our board, our advisors and the management team have access to extraordinarily senior quality personnel that give us a competitive advantage.

Portage believes that by acquiring or investing in an additional 5 to 7 exciting biotech products or companies it can offer institutional investors a unique, diversified well-managed portfolio in one of the best performing sectors of the market in the last 5 years. Biotech and Pharma are non-cyclical, with high alpha and clearly defined risk and reward metrics.  The company is developing therapies, not distributing them, so it provides a valuable service for the big pharmaceutical companies that need more and more products for their sophisticated distribution network. 

Portage Biotech Board of Directors and Senior Management

  • Declan Doogan, MD

    Declan Doogan, MD


    Dr. Declan Doogan has over 30 years of industry experience in both major pharma and biotech. He was the Senior Vice-President and Head of Worldwide Development at Pfizer, where many multibillion dollar programs were delivered (e.g., Viagra, Lipitor and Zoloft). He has held a number of executive positions in Pfizer in the US, the UK and Japan. Since leaving Pfizer in 2007 he has been engaged in executive roles in small pharma. Declan was CMO and acting CEO of Amarin (AMRN: Nasdaq), transforming it from a failing Neuroscience company to a vibrant cardiovascular company with a market capitalization of over one billion dollars before his departure. He has also been Chief Medical Officer for Prometheus Laboratories, a molecular diagnostics company in San Diego. Declan is also an investor in emerging biotechnology and technology companies. He holds a number of Board appointments, principally in pharma companies, and has also held professorships positions at Harvard School of Public Health, Glasgow University Medical School and Kitasato University (Tokyo). Declan received his medical degree from Glasgow University in 1975. He is a Fellow of the Royal College of Physicians and the Faculty Pharmaceutical Medicine and holds a Doctorate of Science at the University of Kent in the UK.

  • Jim Mellon

    Jim Mellon


    Jim Mellon is an investor with interests in several industries. After leaving Oxford University, where he studied PPE, he worked in Asia and the United States in two fund management companies, GT and Thornton, before establishing his own business in 1991. This now has two components: a listed fund management company, Charlemagne Capital Limited and an Asian investment group, Regent Pacific Group Limited. In addition, Jim is a controlling shareholder and a director of Manx Financial Group, an Isle of Man based bank and a controlling shareholder of Webis Holdings plc. He is also a co-founder of Uramin and Red Dragon Resources, both mining groups. Burnbrae, his private company, is a substantial landlord in Germany and in the Isle of Man, and it owns outright the hotel chain, Sleepwell Hotels Limited. Jim is the co-chairman of FastForward Innovations Limited and a director of Portage Biotech Inc.. His book ‘Cracking the Code’, which was published in 2012, focused on investment opportunities in the life sciences sector. Jim is an honorary fellow of Oriel College, Oxford University.

  • Kamlesh Shah, CPA

    Kamlesh Shah, CPA

    Chief Financial Officer and Director

    Kam Shah is a senior finance executive with over 25 years of financial and management experience across a range of industries and companies with significant operating scale and complexity. Kam is a Certified Public Accountant and Chartered Global Management Accountant of the American Institute of CPAs and a Chartered Professional Accountant of the Canadian Institute of CPAs. He has experience in all aspects of corporate finance, including audits, SEC/OSC reporting, forecasting, and business plan development.

    Over the past 15 years, Kam has served as the Chief Financial Officer and Corporate Secretary of Bontan Corporation Inc., a publicly-listed group of companies engaged in biotechnology and oil and gas exploration.  Kam is also the Chief Financial Officer of SalvaRx Group PLC, and its subsidiary, iOx Therapeutics Ltd.

  • Greg Bailey, MD

    Greg Bailey, MD

    Chairman and Director

    Gregory Bailey is a co-founder and managing partner of MediqVentures.

    Previously he was a managing partner of Palantir Group, Inc., a merchant bank involved in a number of biotech company startups and financings. Palantir was also involved in acquiring intellectual property assets and founding companies around the IP.

    As such Greg was the co-founder of Ascent Healthcare Solutions, VirnetX Inc. (VHC:AMEX), Portage Biotech Inc. (PTGEF: OTCBB) and DuraMedic Inc. He was the initial financier and an independent director of Medivation, Inc. (MDVN:NASDAQ), from 2005 to December 2012.

    Dr. Bailey served as the Managing Director and co-Head of Life Sciences at MDB Capital Group LLC from May 2004 to December 2006.

    Greg has served on the board of directors of multiple public companies.

    Greg practiced emergency medicine for 10 years before entering finance. He received his medical degree from the University of Western Ontario.

  • Ian B Walters, MD, MBA

    Ian B Walters, MD, MBA

    Chief Executive Officer and Director

    Ian B. Walters, M.D., M.B.A., is the Chief Executive Officer of SalvaRx Group PLC and is part-time CMO of Intensity Therapeutics, Inc. Over his 16 year career, he has demonstrated both leadership and expertise in drug development, including the advancement of multiple cancer compounds from research stages through approval.

    Ian specialises in the evaluation, prioritization, and the innovative development of new therapies for the treatment of severe diseases. He has worked at PDL BioPharma, Inc., Millenium Pharmaceuticals, Inc., and Sorrento Therapeutics, Inc., leading corporate development, translational medicine, clinical development and medical affairs.

    Ian spent seven years at Bristol-Myers Squibb, where he managed physicians overseeing the international development of more than eight oncology compounds (including Nivolimab (anti-PD-1), Ipilimumab (anti-CTLA-4), brivanib (anti VEGF/FGF), anti-IGF/IR, VEGFR2 biologic, Elotuzimab (antiCS1), as well as biomarker and companion diagnostic work. He was a core member of Bristol- Myers Squibb’s Strategic Transactions Group evaluating and executing licensing agreements, mergers and acquisitions, clinical collaborations, and the company’s immuno-oncology strategy.

    Before entering the private sector, Ian was a lead investigator at the Rockefeller University and initiated advanced immunology research to understand the mechanism of action of several compounds. Ian received his MD from the Albert Einstein College of Medicine and an MBA from the Wharton School of The University of Pennsylvania.

  • Steven Mintz

    Steven Mintz


    Steven Mintz C.A. graduated from University of Toronto in 1989 and went into public accounting, working at a large accounting firm from 1989 until 1992. He obtained his C.A. designation in June of 1992. In June 1992 he became employed by a boutique bankruptcy and insolvency firm where he was employed until January 1997. He obtained his Trustee in Bankruptcy license in 1995.

    Since January 1997 he has been a self-employed financial consultant serving both private individuals and companies as well as public companies in a variety of industries including mining, oil and gas, real estate and investment strategies.

    He is currently President of St. Germain Capital Corp. a private consulting and investment firm. He is also a principle and CFO of the Minkids Group, a family investment, and development company.

    Steven is currently a Director of Pounder Venture Capital Corp., Brownstone Energy Inc., Everton Resources Inc., and Dominion General Investment corporation, where he is also the President.