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"Stan Lapidus: Profile of a Medical Entrepreneur."
The document is a case study on Stan Lapidus, an influential medical entrepreneur who revolutionized cancer detection with his invention, Cytyc’s ThinPrep technology, and co-founded five companies. It highlights his journey from a poor immigrant to a successful entrepreneur, providing insights into his philosophies on belief in oneself, the importance of hiring the right people, and market potential. The document also summarizes the outcomes of his companies, noting significant acquisitions, mergers, and current projects.
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"Stan Lapidus: Profile of a Medical Entrepreneur."
- 1. Stan Lapidus: Profileof a Medical Entrepreneur Case Study ● ● ● Ana Lessa 68080 MEGI Daniel André 65882 MEIC Francisco Ferreira 63563 MEIC ● ● ● Paulo Martins 65929 METI António Junior 57699 METI Marco Aurélio 77863 MEGI
- 2. What is itabout? Stan Lapidus The poor immigrant kid that ended up revolutionizing cancer detection procedures Inventor of Cytyc’s ThinPrep technology Founded / Co-Founded 5 companies
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- 4. Becoming and Entrepreneur 1980- 1987 Itran Corp. 1987 - 1994
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- 6. Becoming an Entrepreneur 1995- 2001 2003 2008
- 7. What we thinkabout “Stan” “You have to believe in yourself, but you also have to know your limits.” “You can always hire good people you’ve if got a good story” Stan Lapidus
- 8. What we thinkabout “Stan” Research, networking and passion “A period of introspection after each professional experience, whether it be good or bad, is valuable” “After I left the company, I thought a lot about my experience, especially what I was good at and what I was not good at” “If you have a big market, a clear value proposition, and strong protective barriers like patents and FDA approval, you can do margins like those in the pharmaceutical industry” - Stan Lapidus
- 9. What happened tohis companies? Itran Corp: acquired by Automatix Inc on January 24, 1994. Automatix itself acquired by Robotics Vision Systems Inc. (RVSI) and RVSI in 2005 acquired by Siemens Energy and Automation; Cytyc : merged with Hologic Corp on May 20, 2007 creating a $10 billion women's healthcare company with over $1 billion in projected annual sales; Exact Sciences Corp: went public in 2001. Total annual revenue of $4.1 million in 2012; Helicos Biosciences: filed for bankruptcy on November 15, 2012; SynapDx: Stan Lapidus is currently the President and CEO. In 2012 raised $32 million in funding rounds and had an estimated sales volume of $620,000.