In his position as President of Beverly Hills-based BioVest Advisors LLC, Richard W. Bank, MD, 67, draws on decades of experience in biotechnology and an extensive database of more than 1,200 buy- and sell-side investment contacts. These include private equity funds, hedge funds, and venture capital firms. He also maintains access to capital funding sources in Switzerland and the United Kingdom.
Richard W. Bank, MD, began his career as a physician more than three decades ago. Receiving his medical degree from The Chicago Medical School at the Finch University of Health Sciences, (now Rosalind Franklin University) he undertook an internship at the University of California, San Francisco, and residencies at the Johns Hopkins School of Medicine in Baltimore and the Mount Sinai Hospital in Baltimore, Maryland. Dr. Bank subsequently served as Attending Physician at Cedars-Sinai in Los Angeles, holding this position until 1995. Currently a Clinical Professor Emeritus in the University of Southern California School of Medicine’s Department of Obstetrics and Gynecology, he has been active as a faculty member of the institution for the past 30 years.
In 1986, Dr. Bank co-founded the biotechnology company USAT, which developed an anonymous and confidential at-home AIDS testing product. After receiving FDA premarket approval, the product had its launch delayed due to the firm’s sale. Richard W. Bank, MD, established the dedicated life science hedge fund First-Tier Biotechnology Partners in 1995, serving as President, Managing Director, and Portfolio Manager. The company was acquired by Lehman Brothers Holdings, Inc. in 2004.
From 2004 to 2006, Richard W. Bank, MD, served as Senior Portfolio Manager, Managing Director, and Senior Vice President of Liberty View Health Sciences Fund, a division of Liberty View Capital Management (a Lehman Brothers Holdings, Inc. company). Dr. Bank undertook additional duties from 1998 to 1999 as Senior Equity Analyst and Director of Biotechnology at SBC Warburg Dillon Read (since acquired by Swiss financial services firm UBS AG). He also served as President and Secretary of BioVest Health Sciences, Inc. from 1996 to 2004.
In addition to his executive-level positions with financial firms, Richard W. Bank, MD, has consulted on behalf of numerous biotechnology companies, including Guilford Pharmaceuticals, Inc., Bradmer Pharmaceuticals Inc., Protein Design Labs Inc., and Athersys Pharmaceuticals Inc. He holds a board position with Vigilnet America LLC, and has served as Director of the publicly traded biotechnology company PolyMedix, Inc., since 2008. For more than a decade, Richard W. Bank, MD, has attended a wide range of medical and life sciences conferences held by major investment banks.