Magazine Article | November 8, 2017

From Startup To Acquisition By Lilly, And Everything In Between

Source: Life Science Leader

By Rob Wright, Chief Editor, Life Science Leader
Follow Me On Twitter @RfwrightLSL

In the first six months of Avid Radiopharmaceuticals’ existence, it was hard to find the company on a map. That’s because, according to the wife of Daniel Skovronsky, M.D., Ph.D., Avid was literally being run out of Daniel’s car. “I did not have an office, and my wife would tease me that I really didn’t have a company. ‘It’s just a PowerPoint presentation on your computer,’ she’d say,” he recalls with a laugh.

She wasn’t wrong, considering most days her husband was spending almost all his time driving to appointments, showing his presentation, and asking for funding for an idea he had first hatched as a graduate student at University of Pennsylvania School of Medicine. It was the stereotypical entrepreneur’s life, rife with those elusive and rare euphoric wins that inevitably are followed by a glut of letdowns and disappointments.