Richard B. DeSimone
Member of FPT Advisory Board
Richard DeSimone Founder, Member of the Board of Directors and Chief Financial Officer
Mr. DeSimone is an award-winning entrepreneur and business executive with more than 35 years experience growing early and expansion stage enterprises. He has founded, developed, managed and exited from businesses in each of the last three decades with returns to investors ranging from two to ten times their initial investment.
Mr. DeSimone has more than two decades of experience building technology companies. In 1998, Mr. DeSimone founded Planet Technology Solutions and served as its Chairman and Chief Executive Officer until the Company was sold in 2001 returning four times the original investment to shareholders. The Company is now part of California Amplifier (NASDAQ:CAMP). Mr. DeSimone has been partnered with Dialogic and Intel in the development of Internet telecom applications and has built and sold businesses in the telecom software business.
Mr. DeSimone was a founder of and served as a Director, Chief Operating Officer and acting Chief Financial Officer of EKR Therapeutics, Inc. a stand-out specialty pharmaceutical company which has grew from $6 Million to nearly $300 Million in annual sales while Mr. DeSimone served as an executive officer. EKR was founded and launched in 2006 when it was recognized as Early Stage Company of the Year in NJ. The Company has also been recognized as Private Company of the Year in 2009. Mr. DeSimone was a leader on the team that completed three product acquisitions, four rounds of equity financing, and two rounds of debt financing to facilitate the growth of EKR. Under Mr. DeSimone�s leadership, EKR generated more than $90 Million in EBITDA per year in 2008 and 2009. During that time Mr. DeSimone was honored by the New Jersey Technology Council as CFO of the Year in 2009 and a finalist for that award in 2008. Mr. DeSimone arranged for and has invested, through his investment partnership, Roxiticus Ventures, in each of four rounds of equity financing for EKR, including providing the seed money capital for the business.
Mr. DeSimone is the founder and Managing General Manager of Roxiticus Ventures and the Roxiticus Valley Funds, investment partnerships providing seed money and advisory services to early stage businesses. Roxiticus portfolio included technology and life sciences companies including ESP Pharma, a specialty pharmaceutical company, where Mr. DeSimone served as an advisor and investor developing the initial funding and supporting the initial acquisitions that formed the Company in 2002. ESP Pharma was sold for approximately $500 million to PDL BioPharma (NASDAQ:PDLI) within three years of starting operations returning more than 10 times the original investment to early investors. Mr. DeSimone has been involved in more than 36 companies as an investor, board member or executive and has completed dozens of M&A and financing transactions during the last 4 decades.
As founder and managing member of Roxiticus Ventures, Mr. DeSimone has held board positions and served as an advisor for a number of successful business ventures in the life sciences and health care, technology and business services sectors. He currently serves on the Advisory Board of Directors of Hackensack University Medical Center HUMC, New Jersey�s leading academic medical center. He previously served as Chairman of the Board of Directors and a member of the Board of Governors of HUMC.