Founder and Chief Executive Officer
Philadelphia - PA United States
The big idea: In 25 words or less, please tell us how this Fast 50 Nominee is helping to address the planet's problems.
Dan Skovronsky has worked tirelessly to prove to top researchers and business leaders that molecular imaging is a tangible solution for diagnosing and treating patients with Alzheimer’s.
Please describe how this nominee is using business as a force of positive change. What technology, idea, or strategy is the nominee using -- and what problem, such as global warming, poverty, or pollution, does it address? (suggested length: 100 words)
Dan Skovronsky has overcome obstacles, broken through barriers in the medical profession, and become a leading voice for advancing technologies to revolutionize the diagnosis and treatment of chronic diseases such as Alzheimer’s, Parkinson’s and diabetes.
Dan has remained steadfast in his belief that the field of diagnostics is an exciting, profitable and worthwhile endeavor because of the way it can change lives, save people and revolutionize the way we diagnose and treat brain diseases, and is using it to make Alzheimer's testing as routine as cholesterol monitoring. He believes that by doing so will help to diagnose disease early on, enable pharmaceutical companies to develop more effective therapies for treating it, and ultimately improve the overall quality of life for millions of patients.
Working under the belief that every technology needs an advocate who believes in it, has the conviction to stick with it, and the perseverance to move it forward, Dan Skovronsky has created a business model that enables the company to take big risks and ultimately see great rewards.
As a small company in an industry dominated by big name players, Avid is unique from some of its larger counterparts in that it can take greater risks, move at a faster pace, and be more creative and flexible in making key business decisions. Playing on these key strengths has enabled Avid to develop better relationships with industry leaders, conduct more successful clinical trials and ultimately surpass its competition to become a leader in its field. While some of its larger competitors look to do their clinical trials overseas, Avid has embraced the opportunity to develop long-term relationships with the FDA and with top research centers across the United States to ensure that the end-goal is met.
His strong vision, leadership skills and dedication to science and medicine have played a critical role in bringing financial and academic support to the industry, and laying the groundwork for tremendous breakthroughs in molecular imaging and the treatment of neurological diseases. Dan’s ultimate goal for Avid is to elevate it as the premier developer of novel molecular imaging agents and become a fully integrated company that does both the development and commercialization of products used to diagnose diseases that threaten the quality of life.
What are the results, both financial and social? How has the nominee's business performed, and what impact has it had on the problem it addresses? (suggested length: 100 words)
Dan Skovronsky has proven that molecular imaging is a tangible solution for diagnosing and treating patients with Alzheimer’s. Avid’s innovative approach has allowed the company to form strategic partnerships with six of the largest pharmaceutical companies in the world, obtain some of the best data available, and revolutionize the diagnosis and treatment of chronic neurological diseases such as Alzheimer’s, and Parkinson’s. Today, the company has obtained over $35 million dollars in funding from some of the top biotechnology investors in the country including, AllianceBernstein, Safeguard Scientifics, Lilly Ventures, Pfizer Strategic Investment Group, and RK Ventures, and has three programs in clinical development, a remarkable feat for a company that’s only been around for two years.
Comments that readers have made about this submission:
Avid is revolutionizing the clinical course of Alzheimer’s and Parkinson’s disease, along with diabetes, by developing a pipeline of imaging compounds that enable earlier detection of these pathological changes, allowing early treatment and management of those affected by these diseases.
Looks to have the potential to make a real impact.
a huge technology breakthrough on a meaningful human problem
A tremendous medical breakthrough that could help millions of people and eventually lead to the discovery of better drugs to treat Alzheimer's. This is going to change the way doctors diagnose and treat this disease.
Avid is a game changer company
