Early Exits: Perils Pitfalls & Possibilities

Presented By New England Healthcare Executive Network


Emerging Enterprise Center at Foley Hoag

Bay Colony Corporate Center, North Entrance
1000 Winter Street - Suite 4000
Waltham, MA 02451

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April 1, 2013 7:30AM–10:00AM


Inspired by the book of the same name,* the program will feature entrepreneurs who achieved early exits from three different starting points: an incubator, a technology license from a research institution, and a license from a drug company.  Topics will include such critical success factors as timing and source of initial capital; how to limit burn and conserve cash; and different forms of exit that can be and how to plan the exit from the start. 

*Peters, Basil; "Early Exits:  Exit Strategies for Entrepreneurs and Angel Investors (But Maybe Not Venture Capitalists)" meteor bytes, 2009.

Program topics:

  • Aligning interests from the start
  • The virtual business model and capital efficiency
  • De-risking and inflexion points
  • Technology sources for entrepreneurs and licensing

Program Moderator:

Jules Fried, Principal, Atlantic VIC


Stamatis N. Astra, Founder & CEO, PhotOral™

Stamatis Astra is CEO of Boston-based startup Photoral™ —a Harvard-affiliated life science company commercializing oral light technology for the consumer market.  Astra holds a BS in Economics magna cum laude, MBA and MS in Communications Management—both with honors—all from Boston University. He serves as Chairman of Development for Arion Journal of Humanities and The Classics at Boston University and co-owns Grecian Echoes, a Greek Affairs talk show which he hosts weekly on WNTN-1550AM Boston.
PhotOral focuses on translating patented photomedicine technology from leading oral health researcher Forsyth Institute into a wellness-based, consumer device portfolio spanning the continuum of oral care – from prevention and diagnosis to treatment and cure –  a $7B market

Bill Edelman, Medical Device Executive, TrendLines

Bill Edelman (BioMed Eng., RPI, 1978), is a medical device industry executive with over 35 years experience.  He is affiliated with The Trendlines Group, an Israeli venture development firm that specializes in medical and agritech technologies, currently serving as Chairman of Cardioflow, Ltd., (embolic protection) one of their companies.  He also Chairs NewVert, Ltd., (spinal implants), Highland Instruments, Inc., (neurostimulation), Leviticus Cardio, Ltd., (cardiac assist power systems) Medivalve, Ltd., (percutaneous aortic valve placement) and Co-Chairman for ETView, Ltd., (TASE: ETVW) (airway management. Mr. Edelman serves as a Board Member for MindChild Medical, Inc., (non-invasive fetal monitoring) and is an Advisor on the Heathcare Board for Northeast Securities, Inc. and serves as a member of the Advisory Council for the Department of Biomedical Engineering at Rensselaer Polytechnic Institute.

Mr. Edelman is a member of Mass Medical Angels and recently served as a member of it Medical Device Screening Committee.  He was Chairman of Paragonix Technologies, Inc., (organ transport systems), PolyTouch, Ltd., acquired by Covidien in 2011 (general surgical instrumentation) and Stimatix GI, Ltd., (ostomy products).

Dennis I. Goldberg, Ph.D., President, LipimetiX Development, LLC.

Dr. Goldberg is President of LipimetiX Development, LLC., a joint venture between LipimetiX, LLC and Capstone Therapeutics (OB:CAPS).  Dr. Goldberg is also the President of Benu BioPharma, Inc. a virtual drug development management and consulting company.  Benu BioPharma licensed the Apolipoprotein E mimetic peptide technology from the University of Alabama, and formed LipimetiX, LLC., which provided the technology to the joint venture.  LipimetiX Development is operating as a virtual biopharmaceutical company to develop a treatment for genetically related hyperlipidemia and acute coronary syndrome.  Benu BioPharma is providing all of the management services to LipimetiX. 

Dr. Goldberg has 30 years experience in the pharmaceutical and biotechnology industries. He previously led biology research at Pfizer’s atherosclerosis drug discovery program, initiating their ACAT and CETP inhibitor program.  He was responsible for the discovery and development of RenaGel and WelChol at GelTex Pharmaceuticals.  He was also President and CEO of Transport Pharmaceuticals, Inc., a private company developing drug/device combination products for transdermal drug delivery.

Dr. Goldberg has a Ph.D. in Physiology and Biochemistry from Temple University and received post-doctoral training at the University of Pennsylvania and the University of California--San Diego.  He holds 15 US patents and has published extensively in both clinical and basic science.

Jules Fried, Principal, Atlantic VIC, LLC

Currently a Principal with Atlantic VIC, a technology venture development company specializing in physical and life sciences, Jules is a serial entrepreneur and attorney.  Earlier in his career, he co-founded and led a digital printing peripheral device business that was a two-time Inc. 500 company sold to a European multi-national,.  He is also co-founder and board member of First Commons Bank, one of the fastest growing banks in the US.  He has been involved in health care businesses for over thirty years, starting with a boutique health care law firm he co-founded in the late '80s which was eventually merged into a major national firm.  He is a member of Mass Medical Angels and currently negotiating technology licenses with multiple institutions.