Doug Lockyer

Doug was brought on board as Joint CEO (business) of this bioinformatics firm in early 2001. He was tasked with raising revenues through marketing, and seeking either equity investors or acquisition partners in order to fuel the rapid growth necessary to compete in the explosive biotech field of the new millennium.

see biospace press release

Within three months he had re-branded and productive the firm and its software offering and had created a professional services division. Invoicing and accounting had been totally revamped, and formalized contracts, statements of work and published methodologies were in place.

The firm had generated nearly $1 million the year before, but $750,000 of that was from NIH (National Institutes of Health) grants. Within nine months Doug had completed a whirlwind tour of every major mass spectrometry manufacturer and had secured nine offers for OEM / VAR deals.

The strategic alliances he formed enabled the company to project 6 month forward sales in excess of $6 million for the coming year.

Actual accounts receivable, by September 11 had already reached nearly $3 Million, and the firm had several competing offers of acquisition. The World Trade Center disaster interrupted the $15 Million acquisition process, which was well advanced, between Genomic Solutions and ProteoMetrics. the transaction went through, modified, at the end of the fourth quarter that year.