Expert in Medical Device Commercialization, Larry Miller, Joins Innovation Works as Executive in Residence

Thursday, August 16, 2007 General News J E 4
PITTSBURGH, Aug. 15 Larry Miller, former president of a Cleveland-based biomedical company and veteran executive of domestic and global medical device companies, joins the staff of Innovation Works as an Executive in Residence. Larry brings more than 20 years experience in commercializing diagnostic imaging products and other medical devices to Innovation Works, the region's single largest investor in seed-stage technology companies. Larry's extensive background and network of contacts will help local life sciences companies in Innovation Works' investment portfolio address critical business issues in product development, sales and marketing, strategic planning and fundraising.

Larry's career has spanned the globe and business spectrum, from companies as large as Philips Medical Systems as President, Health Care Products Division with $600 million in revenue to Biomec Inc., a 20-person biomedical engineering company which was acquired by a public company under Larry's leadership as president. Based most recently in Cleveland, Larry has worked extensively in Asia, Latin America, Europe and the Middle East. Larry holds a degree in mechanical engineering from the University of Pennsylvania and an MBA from The Wharton School of the University of Pennsylvania.

As part of the Executives in Residence team, Larry will help guide the business plan development and growth of companies in the Innovation Works portfolio and recommend new investments. One-third of Innovation Works' companies are life sciences companies developing new medical devices, therapeutics and diagnostics. Larry will assist some of these companies and others in identifying market opportunities, accelerating product development, raising venture capital, managing operations, generating sales, and implementing business practices that maximize productivity and quality. "We are very pleased to have recruited Larry to join our team of Executives in Residence," said Rich Lunak, President & CEO of Innovation Works. "Our team is absolutely first-rate in technology and domain expertise. Larry's extensive experience in commercializing products that require FDA approval, working with venture capitalists, and marketing through direct and indirect channels will be invaluable to our entrepreneurial community."

SOURCE Innovation Works, Inc.


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