Pittsburgh Pacesetters 2010
Honoree
Precision Therapeutics Inc. is having an exciting year. An exciting couple of years, actually, that could lead to greater developments in cancer research.
The excitement, in part, is due to Precision President and CEO Sean McDonald’s ability to secure new funding that will allow the company to further expand its capabilities for cancer research and development.
Multiple rounds of venture capital investment — the most recent from Bain Capital, a leading global private investment firm — have positioned Precision to experience tremendous growth in recent years. The company, which is known for developing leading clinical trials, has been able to triple its employee base in the last three years and double its sales force in the past year. Additionally, a second clinical laboratory and a third research facility are slated to open this fall.
The additional work force and space will allow the company to expand its work to meet doctors’ and patients’ needs by being able to personalize the treatment that is best for the patient. McDonald’s focus is to advance clinical trials and research in an effort to improve the quality of life for the end user, the patient.
As the company continues to grow, McDonald leads his work force by challenging his employees — and himself — to develop creative solutions for the constantly changing business climate. To get that point across, he encourages input and accountability from his employees and maintains an open-door policy. McDonald has also created a corporate culture that encourages continued education, along with research and advocacy opportunities for everyone at the company. The promotion of education allows employees to stay ahead of the fast-moving industry.
McDonald’s commitment to scientific advancements stretches beyond the company. He serves as chairman emeritus of the Pittsburgh Technology Council and sits on the board of the Pittsburgh Regional Health Initiative. He is chairman of the board for Aethon, a company backed by venture capitalists that is trying to develop autonomous robotics for the health care industry. McDonald also sits on the board of directors for Respironics, which was acquired by Philips in 2007.
Through McDonald’s commitment and the company’s diverse talent pool of biostatisticians, medical specialists and scientific research experts, Precision is poised for continuous growth.
How to reach: Precision Therapeutics Inc., (800) 547-6165 or www.precisiontherapeutics.com
