Sales Manager

Frank J. Lyman

*** *** *****

Lake Zurich, IL ***47

847-***-**** Home

630-***-**** Cell

**********@***.***

Executive Manager with a diverse background and proven ability to lead a

management team and profitably grow a business. Over 15 years of

progressive management experience with a history of success growing

businesses. Demonstrated capability in the following areas:

o Leadership founding and growing a medical device company to over $10M

revenue with 40 employees

o Identifying/mentoring talented people and building a successful

management team

o Successful turn-around experience with a manufacturing business

o Brand management for a $400M consumer product line

o Raising capital, both debt and equity

o Skilled negotiator including major clients, distribution agreements,

IP licensing, litigation and acquisitions

o Communications management including public speaking, board/periodic

reports and annual meetings

o Writing complex business plans, proposals & PPM's

Acting President & CEO, NanoDetection Technology (NDT), Knoxville, TN

January 2008 to July 2009.

NDT is an early stage in vitro diagnostics company which developed an

integrated biosensor chip designed to greatly reduce the cost and

complexity of medical diagnostic equipment while increasing its

sensitivity. This is a patented platform technology with many potential

commercial uses. When introduced to NDT in September 2007, the company had

two full time employees. Retained by the Board of Directors to:

o Research and identify the appropriate markets to penetrate.

o Develop the strategic operating plan and create a Private Placement

Memorandum

o Recruit necessary start-up personnel (R&D, Finance, Operations,

Regulatory/QA)

o Spearhead fundraising through an investment banker

Successfully completed all goals. Utilizing industry contacts, assembled

an experienced team of medical device professionals. Initial fundraising

efforts began in July 2008. In November, 2008 the company published a PPM

to raise $8.5M capital. The goal was to enter the infectious disease

diagnostic market. The first product was a rapid test for MRSA. The MRSA

diagnostic market was estimated at over $500M. After approximately one

year of attempts to raise capital (July 2009) the board decided to abandon

fundraising efforts in lieu of seeking government grants. Amicably parted

from the company in July 2009.

Chief Operating Officer, iLight Technologies, Evanston, IL.

August 2004 to December 2004.

iLight Technologies is a start-up company with patented technology for LED

alternatives to neon light products. As an investor and board member at

iLight became materially involved with the company as part of a short term

turnaround situation. Responsible for all operations and financial

functions plus senior management accountability to the board. This young

company was experiencing severe cash-flow, operations, quality and

management organization problems. Within the five months as COO the

company stabilized its cash-flow, streamlined operations and established

appropriate management discipline systems. After the term a new senior

management team was put in place that operated under board guidance.

> Instituted mandatory management meetings to prioritize strategic goals

and allocate resources.

o Strategic planning process

o Cross functional communications

o Annual budget planning & tracking

o Management performance goals

> Instituted aggressive cash management, A/R and credit procedures.

> Accelerated introduction of new electronic circuit to decrease

warranty costs.

> Reduced the number of employees at manufacturing plant by 50% yet

increased product output.

> Initiated ERP implementation.

> Instituted formal QA program including environmental testing for

product stress.

> Effected personnel changes in the Board of Directors.

Managing Member, Salmon Capital, LLC.

August 2003 to present.

Salmon was created to seek out and invest in promising business

opportunities with a focus on start-up companies.

Responsibilities:

> Review start-up/early stage company business plans and performance

to date.

> Evaluate management team for ability to reach stated goals

> Negotiate potential investments with management and investment

brokers

> Serve as board member

Salmon currently has two active start-up investments:

> iLight Technologies: see description above.

> Stealth Mark International: Patented anti-counterfeiting technology.

President & CEO,, SourceTech Medical (STM), L.L.C., Carol Stream, IL.

April 1998 to August 2003.

STM was a start-up company designed to manufacture and market permanent

implant radioactive seeds to treat localized prostate cancer. Main force

behind building the principal team, raising funds and starting SourceTech.

Responsible for broad operating control of the company with a focus on

strategic direction, senior staff management, major customer & vendor

contracts, and funding. To fund the business $6M in equity was raised

with an approximately equal amount of customer financing negotiated with

C.R. Bard. Essentially all of STM's assets were sold to C.R. Bard in 2003

for a significant multiple return to all of our investors. Prior to the

asset sale STM had over $10M annualized revenue, solid operating margins

and positive cash-flow. Built and operated an integrated manufacturing

facility running three production shifts. Managed 40 employees including a

seven member national sales force. Successfully managed through a fiercely

competitive market, 50% average selling price declines, a tight capital

market and protracted predatory litigation.

A brief summary of accomplishments includes:

Personal:

o Raised over $6M in debt and equity investments over several rounds to

fund SourceTech Medical.

o Negotiated a marketing agreement with over $7M in guaranteed payments

from CR Bard.

o Managed the sales relationship with Bard that accounted for over 50% of

unit sales.

o Selected and managed the team responsible for building a growing $10M per

year manufacturing business. This team included: V.P. of Operations,

V.P. of Sales, CFO, Director of Regulatory/QA and the Director of R&D.

o All marketing functions including market research and leading new product

development strategy

o Major sales account relations, sales meetings, sales bonus structures,

sales tracking and trending

o Instilled and maintained a high-caliber yet friendly culture through

careful selection and management of key employees.

o Developed an intensely customer focused manufacturing organization

outcompeting much larger companies.

o Successfully managed large-scale litigation for the company from both

defendant and plaintiff positions.

o Managed the growth of the company from inception to $10M in sales with 40

employees in a five-year period. The company was profitable within 6

months of beginning sales.

o Negotiated the acquisition of STM assets by C.R. Bard.

Company:

o STM developed an I-125 radioactive implant seed and the proprietary

automated manufacturing system.

o STM built and operated a radioactive medical device manufacturing plant

under compliance with FDA and NRC regulations and licenses. The STM

facility was also ISO certified.

o STM obtained FDA marketing clearance for several oncology medical

devices.

o STM developed a strong IP portfolio and launched several new products

which propelled growth and attracted a large corporate acquirer.

Director of Marketing, Outboard Marine Corporation, Waukegan, IL,

April 95 to April 1998.

Management of all marketing aspects (staff & budget) for the Johnson and

Evinrude outboard brands plus electric trolling motors and Turbo-jets.

> All marketing responsibilities for $400 Million international product

line

> Supervised Product Managers and support staff directly in US, matrix

responsibility in Europe

> Responsible for $15M brand advertising budget for over 4,000 dealers

> Relationships with key dealers, industry press and boat

manufacturers/distributors

> Market research, competitive analysis, product rationalization and

product life cycle planning

> Annual plan budgeting, forecasting, tracking

> Marketing expert on engineering product development platform teams.

> Business case presentations for new products to CEO and senior

management team.

> Launched the Ficht fuel injection "green engine" technology across

platforms.

> Instituted industry first new pricing and roll-out procedures for

launch of Ficht engines.

Amersham Healthcare (Now GE Healthcare), Arlington Heights, IL

January 88 to April 95

. Senior Product Manager, January 94 to April 95.

The Product Manager position was folded together with the National

Accounts Manager position. Responsibilities included field sales to

major hospital accounts plus all product management responsibilities

> Identified, maintained and grew major hospital sales accounts

> Developed an I-125 seed implant product line extension which is

still the largest revenue producer in the market today.

> Created the company's first direct-to-patient marketing campaign

for a medical device.

> Drove sales of I-125 seeds to treat localized prostate cancer

from negative growth to the company's fastest growth line with

high margins. This product line turned into the company's

largest revenue producer.

> Developed a cross functional team approach to out-compete

smaller, more nimble companies in the seed implant market.

Essentially formed a "virtual small company within a large

company" composed of all the stakeholders in the product line.

This required considerable convincing of senior management.

> Took on increasing responsibilities while attending graduate

school full time.

. Product Manager, Oncology, Amersham Healthcare/Medi-Physics.

September 91 to January 94.

Responsibilities included all aspects of managing a $10 million

product line consisting of several implantable medical devices and an

injectable radiopharmaceutical.

> Strategic planning, budgeting, forecasting, tracking

> Market research, competitive analysis, data analysis and new

product development

> Wrote product literature, PR brochures and videos.

> Developed relationships with physician thought leaders in the

prostate implant field.

> Helped establish physician training courses for prostate

implants.

> Post merger integration for I-125 seed purchase from 3M

. Manager, Medical Regulatory Affairs, Amersham/Medi-Physics. October

89 to September 91.

Responsible for all medical regulatory issues for a product line

including over 50 In Vitro diagnostics, 20 medical sources and 20

finished drug products.

> Review of all manufacturing & QA changes for all medical devices

and drug products.

> Handled all FDA contacts:

o New drug and device product applications

o FDA advisory meetings

o Plant inspections

> Due diligence and post merger responsibilities for two corporate

acquisitions

o Medi-physics company acquisition (radiopharmaceuticals)

o I-125 Seeds product line acquired from 3M (medical device)

> Clinical trials data for FDA product applications

> Managed a staff of 7 people.

. Coordinator, Medical Regulatory Affairs, Amersham Corporation.

January 88 to October 89.

> Wrote FDA submissions and received clearance for over 40 medical

devices.

> Clinical data collection and collation

EDUCATION:

MBA. Northwestern University, Kellogg Graduate School of Management.

Graduated 1995.

B.S. Microbiology, Michigan State University. Graduated 1984.

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