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Title: |
Chief Financial Officer
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Location: |
US-Maryland-Montgomery County
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Work History: |
RegeneRx Biopharmaceuticals, Inc. www.regenerx.com 2005 present
Bethesda, Maryland Chief Financial Officer
Through a focused outsourced business model RegeneRx is actively managing 5 clinical development programs, and 4 drug formulations, including cardiovascular/internal organ repair, ophthalmic indications, and epidermal wounds. Staff has increased from 3 11 since 2005.
Raised $30 million (m) in several transactions. $10 m PIPE and a $7 m registered direct offering with Piper Jaffray and RBC Capital Markets, and several privately negotiated transactions with existing shareholders.
Strategize with the Board, CEO and CSO routinely on clinical development, financing, partnering/licensing, etc.
Directed a complete redesign of all investor communication materials, including our web page and corporate presentations.
Developed a detailed financial model to manage/project all clinical trial activity, along with corporate-level financial reporting and cash flow requirements.
Instituted a conservative, actively-managed, investment policy, doubling returns, and engaged Deutche Bank Alex. Brown as manager.
One of three executive team members who negotiate all external contracts, including those for drug development and CRO services.
Manage all SEC/Sox compliance. Implemented a suite of employee benefits.
Ironbridge, LLC 2003 2005
Highland, Maryland Founder
Provided executive consulting services, as a sole proprietor, for example:
BearingPoint - revenue recognition.
Initial Sox implementation for Hanger Orthopedic, and Martek Biosciences Corporation.
SkyBridge Limited Partnership, an Alcatel company 1998 2003
Bethesda, Maryland and Paris, France Vice President, Finance (functional CFO)
Alcatel, a French leader in telecommunications created SkyBridge, in 1997. SkyBridge was to develop new low earth orbit (LEO), broadband satellite technology, build and deploy the satellites, and operate a global telecommunications company. Other investors included: Loral, Boeing, Toshiba, EMS, Qualcomm, et. al.
Evaluated multiple acquisition targets and JV opportunities. Executed due diligence for, a $200+ million (m) JV between Alcatel, SES Global and Gilat.
Secured capital through road shows, drafted PPMs, negotiated investment terms. Results: Equity grew from approximately $100m to $400m (Alcatel increased their investment from $50m to $200m), Partners grew from 8 to 20, secured $700m in debt financing, arranged $7.5m in project financing with ABN AMRO Sydney, Australia.
Developed models to evaluate cash flows/funding requirements, ROI, valuation, and significant sensitivities, etc. for investment and new business opportunities.
Interfaced with/engaged: Bankers, attorneys, accountants, insurers, etc. Defined/created, as well as managed all underlying plans, processes and strategies for: Budgets/forecasts; R&D, bid/no-bid/proposal development, local and international taxes; Treasury; information systems; procurement; SEC compliance as a pre-IPO entity and, HR/benefits.
Given the depressed financial condition of the telecom industry and Alcatel specifically, Alcatel closed SkyBridges US operations in 2003.
Verizon (formerly Bell Atlantic) 1996 - 1998
Silver Spring, Maryland Director, Strategic Financial Systems
Recruited by a former colleague to define the strategy, influence company-wide buy-in and, ensure on-time, on-cost delivery of a new PeopleSoft information system.
Enlisted volunteers and led a 30-person, cross-functional, matrixed, team to define the strategy within 4 months, 2 months ahead of schedule.
Influenced buy-in throughout the organization, securing $70 million in funding. Business case review committee: If this is not the best, it is the second best business case we have ever seen.
Placed several systems into operation, including a critical BA/NYNEX merger platform.
Wang Federal, Inc. (formerly HFSI, a subsidiary of Honeywell & Groupe Bull) 1990 - 1996
McLean, Virginia Controller
Wang Federal was a $300 million, international, CAS-compliant, Federal systems integrator, including product sales, maintenance, consulting, build-to-order, and training services. Originally hired as the Controller reporting to a Division CFO. Assumed the CFOs responsibilities after a merger with Wang reporting to both the Division President and Corporate CFO.
Helped management redefine market strategy, resulting in an initial $9 million contract.
Implemented Oracle financial applications, sophisticated on-line analytical processing (OLAP) tools, and a custom-built time reporting system. Results: (1) a 60% staff reduction from 100 employees to 40, (2) the first ever insights into profitability by business unit, contract, customer and product, (3) an improvement in the closing process from 5 days to 3, and (4) new financial metrics.
Improved receivable days outstanding by 40%, over $10 million, through coordinating a cross-functional, six-sigma styled team.
Integrated and managed facilities, systems, personnel, etc. as we merged with Wang.
Insured CAS/FAR compliance, and proper revenue recognition in accordance with GAAP, including bundled software & services.
C. Neil Lyons (continued)
Deloitte, Washington, DC, Audit Senior Manager 1981 - 1990
Ernst & Young, Tampa, FL, Audit Senior 1979 - 1981
Performed audit and Federal contracting advisory services for ERC a NYSE company, Computer Sciences Corporation, OAO, and other Federal contractors, approximately 50% of total practice. Performed due diligence, drafted SEC documents, and negotiated disclosures for:
Dart Drug Stores, a $300 million mid-Atlantic drug store chain $160 million troubled debt restructuring. Investment bankers: Oppenheimer.
Hechinger, a $1 billion hardware retailer $60m acquisition of Home Quarters.
Presidential Airways, a $200 million regional passenger air carrier - $75 million IPO. Two acquisitions of regional air carriers. Secondary debt and equity offerings, bringing total capitalization to $250 million. Investment bankers: Alex. Brown.
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Skills: |
Summary Results-oriented executive/CPA with broad industry experience.
Currently CFO RegeneRx Biopharmaceuticals, Inc. NYSE Alternext US: RGN
15+ years leading finance, and administration in technology-oriented enterprises.
11 years Big 4 public accounting, with concentrations in: SEC & M&A.
Areas of responsibilities have included:
Capital formation SEC/Sarbanes-Oxley (Sox) ERP implementations
Strategy Federal contracting HR/Employee benefits
M&A CAS/FAR compliance International treasury/tax
Investor relations Risk management Facilities
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Education: |
Accreditation: Certified Public Accountant, 1979
Affiliations: American Institute of CPAs, Association for Corporate Growth, Maryland Technology Counsel.
Education: BS in Accounting, Florida Southern College, 1979 magna cum laude
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