Patrick Daly has a successful track record of taking a business venture and running with it. So when he joined Cohera Medical Inc. as the company’s president and CEO, he felt prepared for the challenges it presented. For one, Daly recognized the potential Cohera Medical had in the market for surgical adhesives with the breakthrough technology of its initial product, TissuGlu. Yet to take the potential of its vision and make it a reality, Cohera Medical needed a leader who could translate the value of this technology for investors.
Since he joined Cohera Medical, Daly’s leadership had been critical in growing the company, both by recognizing investment opportunities and bringing on talent to achieve them. Coming in, he quickly developed a business strategy for Cohera Medical to bring TissuGlu to market while also strengthening its focus on innovation. Six months after accepting the position in 2005, Daly had already negotiated a license for the new technology, raised seed money to hire staff for new product creation, secured office and laboratory space and was on his way to completing the largest angel financing round of any life sciences companies in the Pittsburgh. In the past six years, Daly has helped raise millions from angel investors and brought the company’s head count to 24 employees.
Daly’s growth strategy for Cohera Medical also includes a best-practices approach that is unique to its industry. It includes providing employees with full benefits and completing a comprehensive annual audit. With this approach, Daly creates an atmosphere where employees, investors and vendors have confidence in the company’s management and vision. By helping Cohera Medical build an infrastructure for long-term growth instead of focusing on “quick-flip” technology, he’s opened the company up to many new business opportunities.
How to reach: Cohera Medical Inc., (412) 231-1500 or www.coheramed.com