PAUL ROHRICHT MS, MBA
Charlotte, NC 28031
•Proven business development professional with strong entrepreneurial, interpersonal, leadership, and transaction structuring skills (business services, platform technologies as well as target/pipeline products).
•Ability to understand complex business issues; clearly defining the problem, and through cross-functional teams, finding solutions that can be implemented, working with all stakeholders within the organization to ensure its success.
•Demonstrated strategic planning and portfolio management in support of longer-term corporate goals, including R&D and IP strategies, clinical strategies, as well as competitive marketing analysis and monitoring functions.
•Expert in international biotechnology business development.
•Negotiated and completed in- and out-licensing transactions, distribution agreements, JV’s, R&D collaborations, and acquisitions, with pharmaceutical, biotech and academic institutions and companies, in the U.S., Europe, and the Far East (Japan, China, Australia, New Zealand). Identified new funding sources for early stage research projects through NIH, DOD, DARPA, Advanced Technology Program and other government grants.
•More than $450 million in transactions completed to date.
•Extensive experience in Alliance Management with partners in support of partnered programs.
•Written business plans and secured venture capital financing.
•Inventor, creator, and marketer of new products and business services; identification of new revenue stream opportunities and cost-saving efficiencies.
•Inventor US Patent: Tissue products derived from porcine animals lacking any expression of functional alpha 1,3 galactosyltransferase, United States 8,106,251, Issued January 25, 2012.
•Founded six startup companies.
•Career Transaction Summary (included)
PROFESSIONAL EXPERIENCE AND SELECTED ACCOMPLISHMENTS
Vedere LLC (2012-present)
Chief Executive Officer
Vedere provides consulting to early and developmental stage technology companies, with a focus on biotechnology, medical device, and diagnostics. Vedere also provides interim CEO, COO, and Executive Business Development short term and interim management assignments, as well as business advisory and Board services.
Overview of Selected Recent Projects:
Entrepreneur in Residence, Consultant, Wake Forest University Medical School (Wake Forest Innovations). Here, my role has been to survey all biomedical applications under development by Wake Forest researchers whether new API’s, medical devices, or therapies, in order to assess suitability for a successful spinout as a standalone company. This included performing technical, IP, and commercial due diligence, and provide recommendations not only on what technologies could become viable spinouts, but also, what remaining milestones needed to be achieved in order to progress for those that required further maturation. For one selected opportunity from my review, I was asked to write a complete business plan for the spinout of a new technology in the oncology space.
Confidential consultant to a billion dollar Wound Care company. In this nine-month project, I was tasked to review the entire would care portfolio, and develop an R&D and commercialization plan whereby new emerging technologies could be leveraged in order to a) Develop new products that “fit” in the current portfolio; b) Develop second generation products that incorporate new technologies that would enhance the value proposition of existing products; and c) Develop a roll out strategy including sales, marketing, and distribution in the U.S., Central America, EU and the Far East.
Confidential consultant to a fast growing Nutraceutical company. In this project, I was tasked first to provide and IP review of a new area of business my client was intending to enter. This was followed by a technical review of the available scientific literature and assess the strength of claims that could be used in entering the new market. Finally, I was tasked with making contact to the company that makes the active ingredient, and establish potential licensing terms leading to negotiation of that license.
Keraplast Technologies, Ltd., San Antonio, TX
Chief Operating Officer
Keractive Beauty, LLC, San Antonio, TX
Founding Board Member, President, Secretary, Treasurer
Direct the day-to-day operations of Keraplast Technologies, as well as Keratec and RJK Developments, both wholly-owned manufacturing subsidiaries based in New Zealand comprised of 25 professional technicians, research scientists, and administration. Manage a group of independent distributors who market Keraplast products internationally.
Reported to the Board of Directors, with P&L responsibility for the parent company and subsidiaries, with revenues in excess of $10M and growing rapidly. Reviewed the priorities set by the Board, identified new opportunities to exploit Keraplast technology, including the identification of, and implementation of, new revenue streams. Designed and implemented an organizational plan providing for a multi-phase parallel approach to match needed resources with company growth. Managed an IP estate of more than 140 issued and pending patents and trademarks. Designed, and then launched, new technical products and services, and built relationships with potential partners and customers by identifying and selling new applications.
-During my tenure as COO, the company went from a loss to an operating profit in less than 18 months.
-Within two and a half months after taking over operational responsibility for a new manufacturing facility in New Zealand, the company went from a twelve month $1.4M loss and swung to a $400K profit. The facility has been operating in the black ever since. This was done by staff reduction, putting new procedures in place to prioritize most profitable accounts, raising prices, and reducing costs.
-Developed the company’s out-licensing strategy, identified suitable partners, negotiated and executed first supply and licensing agreement with Global Keratin, Inc. (including upfront fee, milestones, and a royalty agreement for worldwide commercialization of a personal care line of products which utilize Keraplast’s core patents and know-how).
-Completed a second out-licensing and supply agreement with a top tier personal care company for worldwide commercialization of a personal care line of products which utilize Keraplast’s core patents and know-how.
-With the completion of mid-year 2010 account reports, our manufacturing group shipped and invoiced all of what was shipped and invoiced in the entire FY2009, thus a doubling of top line revenues. By mid-year 2010, manufacturing was operating at 100% utilization, at very attractive margins, approaching 70% across all product lines. This was accomplished by reviewing and then implementing process changes that allowed for more production batches to be completed without capital expenditure.
-After taking over as COO, Keraplast is now two years ahead of schedule for operating profitability, due to not only cost reduction measures, but also key wins in new orders from new customers that were converted from prospects to licensees.
-Invented and submitted patent application to the USPTO for novel uses of technology under development at Keraplast Technologies, Inc., US Patent Application: unpublished, confidential. This patent was also filed with the EPO and is currently under review, dealing with use of company technology in the field of Regenerative Medicine.
-Wrote new business plan for the company that secured a $2.65M follow on funding from existing investors, and which was completed on April, 2010, an “up round” from the last funding completed in the fall of 2009. The funding was oversubscribed in this private placement.
-Launched direct sales of Advanced Wound Care Medical Device Products in the U.S., including the formation of a new subsidiary (Kerex, LLC) to provide direct ordering of Keraplast wound care portfolio products.
-Authored, submitted, and awarded two Qualifying Therapeutic Discovery Program (QDTP) grants:
-Keraplast Technologies, LLC “Intravaginally delivered functional keratin for the treatment of atrophic vaginitis. $ 156,100.00.
- Keraplast Technologies, LLC. “Second Degree Burns Keratin Efficacy vs. Standard of Care Clinical Study Protocol, 2010-010 $ 244,479.25.
-Completed an agreement for distribution of Keraplast Advanced Wound Care products in Australia and New Zealand, with Catalyst Medical.
-Authored and submitted two Invention Disclosures for new patents which are being submitted to the USPTO and PCT for uses of Keraplast technology in new applications.
-Completed Joint Venture with Max Direct, LLC, which led to the formation of Keractive Beauty,
LLC. Appointed as Board Member of Keractive Beauty, LLC, and served as the JV’s President, Secretary, and Treasurer. Keractive Beauty was formed to enable the distribution of Keraplast haircare and skincare products under a private label, through direct response and distributor marketing channels. Launched 11 new products, sold through ShopNBC, one of the largest home shopping networks in the U.S.
ICx – Agentase LLC, Pittsburgh, PA 2007-2009
Vice President of Commercial Business Development, Member of Executive Management
Duties and responsibilities: same as previous position. Additionally directly manage a group of Ph.D.’s and their technicians in guiding new product development initiatives utilizing company core technology and know-how.
-Developed the company’s out-licensing strategy, identified suitable partners, negotiated and executed first medical device development and licensing agreement with Siemens Medical Diagnostics Solutions (including upfront fee, milestones, and a revenue share agreement for worldwide commercialization of an undisclosed in vitro diagnostic technology).
-Co-invented and submitted two patent application to the USPTO for uses of technology under development at ICx Technologies, Inc., US Patent Application: unpublished, confidential. This patent was also filed with the EPO and is currently under review.
SYMPHOGEN A/S, Lyngby, Denmark 2005-2007
Vice President of Business Development, Member of Executive Management
Duties and responsibilities: same as previous position, with the additional role of hiring and managing a business development team (1 direct report).
-Developed the company’s out-licensing strategy, identified suitable partners, negotiated and executed company’s first partnering transaction with Biovitrum AB, a 50/50 co-development licensing agreement (including upfront fee, milestones, and a revenue share agreement for worldwide commercialization of Sym001, anti-D polyclonal antibody).
-Submitted and was awarded a 3 year, $5M grant with NIH (NIAID) for company’s second product in its pipeline, Sym002, anti-vaccinia polyclonal antibody.
-Completed a new discovery transaction with Meiji Seika Kaisha, a mid-sized Japanese pharmaceutical company. In addition to standard licensing terms (upfront fee, milestones, and royalties), Symphogen retained a co-development option in the U.S. and EU markets after the completion of the first Phase II clinical trial.
-Co-led and completed a new discovery transaction with Genentech valued at more than $330M and included standard licensing terms (upfront fee, milestones, and royalties).
-Led, planned, and executed the establishment of Symphogen’s wholly owned U.S. subsidiary, Symphogen, Inc. (Breinigsville, PA).
REVIVICOR, INC., Blacksburg, VA // PPL Therapeutics PLC 1998 –2005
*Note: Revivicor is a spinout company of my previous employer, PPL Therapeutics, Inc.
REVIVICOR, INC., Co-founder, VP Corporate Dev., Member of Executive Management
Duties and responsibilities: same as previous position.
-Co-founder of Revivicor; wrote the business plan to spin out Revivicor from parent company PPL Therapeutics. Secured funding through a venture syndicate including VC’s and strategic corporate venture group. Series A investment completed in April, 2003.
-Developed the out-licensing strategy for non-core products, identified suitable partners, negotiated and executed licensing transactions with Lifecell, Inc. (an exclusive license granted to for the development of products in the dermal tissue field) and Zimmer, Inc. (an exclusive license granted for the development of products in the bone, ligament, and tendon fields). Both transactions included upfront fees, milestones, and royalties on commercial sales.
-Negotiated and completed the acquisition of Xenotrans Ltd.
-Negotiated and completed in-licensing of key IP Estates from the University of Pittsburgh, the Imperial College of Medicine (U.K.), and Benitec Ltd. (Australia).
-Negotiated and completed in-licensing of key IP Estate from Geron Corp., an equity-for-IP exchange transaction.
-Co-invented and submitted patent application to the USPTO for uses of technology under development at Revivicor, Inc., US Patent Application: 200********; “Tissue products derived from animals lacking any expression of functional alpha 1,3 galactosyltransferase”. This patent was also filed with the EPO and is currently under review.
-Submitted and was awarded an Advanced Technology Program (ATP/NIST) grant, resulting in $3M in new funding for ongoing research at Revivicor.
PPL THERAPEUTICS, INC., Blacksburg, VA 1998 –2003
Note: PPL Therapeutics plc sold its interest in Revivicor, which I co-founded
Vice President of Business Development 2001-2003 Business Development Manager 1998-2001
Design and implement the out-licensing strategy for company products in development; identify and in-license new products and technologies from public and private research institutions; negotiate R&D collaborations. Present company technology and partnering interests at industry meetings. Communicate and coordinate activities and strategy with the Executive Management and Board of Directors.
-Negotiated out-licensing agreements for products in development with major international pharmaceutical companies.
-Designed new JV with a New Zealand company, wrote business plan.
-Closed three partnering transactions for evaluation of the company’s technology platform.
-Submitted and was awarded three U.S. government grants, resulting in $9M in new funding for ongoing research at the company (3 NIST/ATP awards, 1 DARPA award).
-Designed and wrote a series of articles for publication in peer-reviewed industry trade journals introducing new technology concept.
TECHNICAL MARKETING SERVICES, INC., “TMS”, Mertztown, PA 1994-1998
President, CEO and Founder Vice President and Acting General Manager, Julabo USA, Inc. 1995-1996
International business development consulting company providing technology assessment, partnering, and strategic planning/market development services for biotechnology and pharmaceuticals companies in the U.S. and Europe. Clients included Abbott Laboratories, WyethAyerst (American Home Products), Boehringer Ingelheim Pharma Germany, PPL Therapeutics Inc., Paragon Biotech, Pharm-Eco Laboratories, BioInvent AB (Sweden), Creative Biomolecules, Julabo Labortechnik GmbH, and others.
-New business in excess of $10M was completed for clients represented by TMS.
-Completed worldwide search for a cGMP Phase III/commercial vaccine production facility.
-Established the startup operation of a new U.S. subsidiary for a German scientific instrumentation manufacturer. Hired office and manufacturing staff, and established the U.S. manufacturing and repair center. Negotiated first major distribution agreement for the new subsidiary in the U.S. Transaction valued at more than $15M in sales. The new subsidiary generated an operating profit one year after its establishment.
CREATIVE BIOMOLECULES, INC., Hopkinton, MA // Verax Corp. 1992-1994
Business Development Manager, Contract Bioprocessing
*Note: Creative Biomolecules purchased the contract bioprocessing facility of my former employer, Verax Corporation.
Negotiated contracts for cGMP contract manufacturing services sold to biotech and pharmaceutical companies worldwide. Responsible for all aspects of new account development, marketing, sales, and contract negotiations.
-Closed a long-term manufacturing supply agreement with Biogen Inc. for preclinical, Phase I-II material, and process development/optimization services, a three-year transaction worth $18M.
VERAX CORPORATION, West Lebanon, NH 1992-1993
National Sales Manager, Contract Bioprocessing
Negotiated contracts for cGMP contract manufacturing services sold to biotech and pharmaceutical companies worldwide. Responsible for all aspects of new account development, marketing, sales, and contract negotiations. Supervised a direct, nationwide sales force.
-Completed numerous contract-manufacturing agreements valued in excess of $2.5M.
B. BRAUN BIOTECH USA INC., Allentown, PA 1988-1992
National Sales and Marketing Manager
Established and supervised the distribution and manufacturer representative networks in the U.S., Canada, and Central/South American markets. Prepared and executed the marketing plan. Worked with R&D to coordinate new product development. Sales increased from $150K to $1.5M over a two-year period; over 150 new products were launched.
SPECTRA-PHYSICS INC., San Jose, CA 1987-1988
Mid-Atlantic Sales Manager
Responsibility for sales of HPLC and data acquisition equipment and software in the mid-Atlantic territory. Named “Rookie of the Year” for 1987.
ENDOTRONICS, INC., Minneapolis, MN 1985-1987
East Coast U.S. Sales Manager 1986-1987 Instrumentation Installation Specialist 1985-1986
Responsibility for sales of advanced cell culture equipment and contract manufacturing services in the east coast U.S. territory, complete R&D collaboration agreements.
Master of Science and Engineering, Master’s in Technology Management, University of Pennsylvania, Penn School of Engineering (Philadelphia, PA), The Wharton School of Business (Philadelphia, PA), 2002.
Bachelor of Arts, Biology (Chemistry concentration) St. Olaf College, Northfield, MN, 1984.
Moore Fellow, University of Pennsylvania, 2002.
Biospace.com Innovation Award, 2000.
Biotechnology Industry Organization’s Business Development Sub-Committee. PA BIO, Executive Program Committee.
ADJUNCT FACULTY APPOINTMENTS
Instructor, Adjunct Faculty, MBA Program, Alvernia College, Reading, PA 2002-2005
Instructor in Corporate Finance, Management Finance, Leadership, Entrepreneurship, and International Marketing.
Instructor, Adjunct Faculty, College of Business, Bloomsburg University of Pennsylvania,
Bloomsburg, PA 2002
Instructor in Consumer Behavior and Marketing.
Volunteer personal time at Family Service Association (www.family-service.org), providing companionship services to elderly members of the San Antonio community who are without friends or family and who are in need of companionship.
PROFESSIONAL AND PERSONAL REFERENCES
Available upon request.
$1M or less: 31
$1M - $5M: 20
$5M - $10M: 2
$10M - $15M: 1
Joint Venture: 1
Government Grant: 6
New Companies Formed: 6
CMO Contract: 17
Distribution Agreement: 8
Transaction Summary and Deal Sheet
Chief Executive Officer, Chief Operating Officer, President, Founder, Board Member (Director),
Secretary, Treasurer, Vice President of Business Development, General Manager, Director of Business Development, National Sales and Marketing Manager, Mid-Atlantic Sales Manager, East Coast Sales Manager, Instrumentation Installation Specialist.
Transactions Types Completed
In-licensing, out-licensing, acquisition, Newco founding, research collaboration, joint venture, equity raise, spin out, CRO, CMO, supply agreement, government grant, distribution agreement, co-development.
Biotech/Biopharma/Medical Device/Diagnostics/Consumer. Therapeutic areas: oncology, CVMET, inflammation, infectious disease, nutrition, orthopedic. Technologies: therapeutic protein, therapeutic antibody, wound healing, cell therapy, stem cells, circulating tumor cells, nanomaterials, in vitro diagnostics, consumer products, polymer materials.
$5M - $10M
$10M - $15M
$15M - $100M
DETAILED TRANSACTION AND DEAL SHEET (Available on request)