President and CEO
Brought in as the first external executive leader in company history with both scientific and business background, to turn around, revitalize and refocus Vyteris and drive increased profitability and performance. Managed all crucial areas of R&D, operations, business development, strategic partnering, product development and commercialization, and public and investor relations. Established business development strategies, forged partnerships, and led strategic alliance discussions with major biopharmaceutical companies. Serve as a member of Board of Directors.
Impact: Led the company through a successful turnaround, infrastructure redesign, reorganization, merger, and business transformation, positioning the company for growth and success in the $22B contract research organization (CRO) industry.
Successfully orchestrated merger with MediSync BioServices Inc., transforming Vyteris into a diversified and profitable specialty contract research organization (CRO), while exiting from the company’s existing drug delivery business.
Proposed strategy and secured Board approval to raise $25M in equity capital for the purpose of acquiring four attractive CRO businesses in the areas of Dermatology, Pain Management and Regulatory Affairs. The long term investment opportunity over 3 years is estimated to generate $38.6MM in revenue and $8.6MM EBITDA, growing 10% annually.
Proposed strategy and secured Board approval to take the company private, monetize Vyteris’ extensive transdermal drug delivery assets, and reduce total liabilities from $19.6MM to $4.2MM.
Successfully advanced company’s ongoing joint venture in development of non-invasive infertility hormone with its corporate partner to phase 2 clinical trials.
Virtually transformed and renewed firm’s viability and momentum as a high-potential player in the transdermal drug delivery market. Brought renewed focus to corporate strategy by redefining and accelerating product development plan/cycle and in-licensing technologies to strengthen product offerings.
Initiated high-level operational and business development activities, infrastructure redesign, turnaround strategy, and reorganization. Cut headcount from 75 to 32, reengineered business processes, redesigned product development plan, and instilled urgency for financial discipline. Improved Sarbanes-Oxley compliant business process and reporting standards.