The chairman of the board and chief executive officer at Genix Therapeutics, Inc., Dr. Ragab El-Rashidy previously served at Pentech Pharmaceuticals, Inc., and Pharmedic Laboratories, Inc. The recipient of a PhD from the University of Illinois-Chicago, Dr. El Rashidy also worked as a laboratory instructor at UIC’s College of Pharmacy. With more than two decades of experience in the pharmaceutical and healthcare industry, Dr. Ragab El-Rashidy holds 23 patents and has developed successful relationships with a number of major venture capitalists.
Venture capitalists are early-stage investors who take risks on little-tested or untested startups that are looking to turn ideas or prototypes into successes. They consider a number of factors before deciding whether or not to invest their time and money.
One of these factors is the manager’s or management team’s history of handling successful projects. In the absence of such talent, the company should be willing to hire experienced managers to lead the projects. A history of successes can help investors feel more comfortable about a risky project’s long-term possibilities. Similarly, venture capital investors value clarity about the forms of risk they are likely to encounter. A clear business plan also demonstrates the company’s long-term expectations.