A. Rachel Leheny, Ph.D.

Managing Director

In 2012, Dr. Leheny co-founded Valence Advantage Life Sciences. Prior to Valence Advantage, Dr. Leheny managed Caxton Advantage which she co-founded in 2004. Dr. Leheny has 26 years of experience in the life sciences industry. From April 2000 to May of 2002, Dr. Leheny was the Head of the Biotechnology Research Team and a Senior Vice President at Lehman Brothers. Dr. Leheny headed the Biotechnology Research Team at UBS Warburg and worked at Hambrecht & Quist, most recently as a Managing Director and Senior Biotechnology Analyst. Dr. Leheny was named a Wall Street Journal research All-Star for stock picking in 1996, 1998, and 2002. Dr. Leheny obtained her A.B. in Chemistry with honors from Harvard College and a Ph.D. in chemistry from Columbia University. She did post-doctoral work at the University of California, Berkeley where she was an NIH fellow and a lecturer. Dr. Leheny served as a Director on the Board of Caxton Advantage portfolio company, Anthera Pharmaceuticals and was a Board Observer of Caxton Advantage portfolio company, Corthera.  Dr. Leheny is currently a Director of the Clearity Foundation, a non-profit organization that provides molecular profiling for women with ovarian cancer.