Ms. Cunicelli is executive vice president of UPMC Enterprises. She will begin her new role Jan. 1, replacing Tal Heppenstall, who is retiring. She will also become an executive vice president at UPMC.
“Under Tal’s leadership, UPMC has created a unique and successful model for investing in the reinvention of healthcare — both through our digital solutions that are critical to healthcare delivery and drug discovery, and through our cutting-edge translational science efforts,” Ms. Cunicelli said in a news release. “I look forward to continuing this work as head of this talented team.”
Ms. Cunicelli began leading UPMC Enterprises’ translational science efforts in 2017.
During her tenure, a team of more than 20 scientific and investment professionals has formed five startups and invested in research at the University of Pittsburgh, UPMC said. The health system added that those are in addition to investments with other venture capital syndicates.
On Jan. 14, UPMC said it would deploy $1 billion to develop new drugs, diagnostics and devices over the next four years.
So far, UPMC has invested more than $800 million in its digital health and entrepreneurial efforts through UPMC Enterprises since inception six years ago.
Before joining UPMC, Ms. Cunicelli was managing director at Bay City Capital in San Francisco. She earned an MBA in finance from the University of San Francisco.
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