Terry Brady, Chief Inventor
Terry E. Brady was most recently President & CEO (and founder) of Array Medical, Inc., Somerville, New Jersey. As planned from the company’s inception in the spring of 1996, Array Medical was successfully sold to a large, established firm on April 11, 2000. Array Medical conceived, developed, completed clinical trials and won FDA approval for a major cardiovascular product by the end of its first year of operation. Using novel, proven business and distribution methods, including a strategically integrated in-house advertising agency, the company developed and commercialized additional, notable global products. The Array Medical line included: The Actalyke® Activated Clotting Time System; Ichor® self-contained point-of-care hematology instrument; Nicky® neonatal heel incision device for blood sampling; and the Triplett® bleeding time test technology. Selling into over 50 countries, the company was international in reach and scope. Further, its target market included point-of-care monitoring and management of thrombotic conditions such as stroke, heart attack and pulmonary embolism. Notably, the entire Array Medical compliments of products developed are all currently in commercial use and are prospering. As such royalties are still flowing after those many years. Notably, these products and technologies enjoy dozens of academic citations in the medical research literature.
In December 1999, Array Medical received FDA approval for a major new product called Plateletworks® to monitor Aggrastat® (tirofiban—Merck), Integrilin® (eptifibatide—Cor Therapeutics) and ReoPro® (abciximab—Centocor, a Johnson & Johnson Company). Aside from having worked closely with Merck & Company in this dynamic arena, Mr. Brady was also instrumental in several other development efforts to more quickly and effectively diagnose acute coronary syndromes and myocardial infarction. He was also directly involved in inventing patented technologies and evolving new strategies and marketing techniques while leading Array Medical forward.
Prior to founding Array Medical, Mr. Brady was President of ITC Commercial Group (International Technidyne Corporation, Edison, New Jersey), a company specializing in hemostasis monitoring technology for assessing blood anticoagulation in bypass surgery and percutaneous transluminal coronary angioplasty (PTCA). In 1984, the founders of ITC brought Mr. Brady into the organization as an equity holder expressly to turn the company around and ultimately broker it to the highest bidder. ITC had few prospects as a single-product company, with flat-to-declining sales of about a million dollars, which had stalled at that level during the six years before he joined the organization. With Mr. Brady as the principle architect for worldwide corporate, product and brand strategies, the company grew under his leadership to annual sales of over $15 million by 1991.
ITC became known for clinically relevant products and exceptional promotion and advertising and hence, extraordinary customer reach, using its in-house agency. ITC innovations included the development of the first FDA cleared patient self-testing product (ProTime®) for warfarin management and the first acute care drug/diagnostic device integration of the RxDx® anticoagulation management system for coronary bypass surgery and angioplasty. In September 1991, Thermo Electron Corporation, a Fortune 300 company, acquired ITC in a pooling of interest deal that had a final settlement of $35 million. This fulfilled Mr. Brady's primary corporate responsibility to the founders and equity holders of ITC. Thermo Electron contracted Mr. Brady for two years following the acquisition. During this period, ITC continued its remarkable growth and prosperity. By the end of 1993, sales revenues had reached $25 million, trending toward $30 million. During Mr. Brady's tenure at ITC, the company grew at a compounded average rate of over 35 percent per annum and grew from approximately 20 employees in 1984 to over 200 by early 1994. Throughout his entire tenure ITC had an unbroken record of quarterly growth and profitability. More than a decade later, that remarkable profitability has been sustained principally from the core products and technologies developed under his leadership and direction. In fact, those numerous technologies and brands are still market leaders and command substantial premiums presently. Those technologies are extensively academically cited secondary to every medical university and research center performing cardiovascular surgery, thrombosis and hemostasis research and critical care neonatology globally.
Much of the ITC success related to Mr. Brady’s product development efforts before he joined ITC. Mr. Brady and others founded WT Associates, a research and development partnership, which licensed their unique skin-incision technology (bleeding time test for platelet function: Surgicutt® & neonatal heel incision: Tenderfoot®) to ITC. The partnership enjoyed royalties from 1985 through 1991, when the license was acquired as part of the Thermo Electron Corporation acquisition. The license was sold to Thermo Electron for $4 million, based on a dramatic growth rate and 1991 sales of $5 million. Products based on this skin incision technology exceeded the projections made at the time the license was sold and represented nearly half of the ITC revenues and profits by 1994.
Mr. Brady entered into the discipline of diagnosing and managing thrombosis when he joined the sales force of Bio/Data Corporation, Horsham, Pennsylvania, in 1975. At that time, Bio/Data was one of the leading developers of innovative hemostasis equipment, including platelet aggregrometery instrumentation and reagents. The renowned, late Bio/Data executive and industry thought leader, James W. Eichelberger, personally mentored Mr. Brady during his tenure at Bio/Data. Mr. Eichelberger was known and admired around the world as singularly the most articulate and vibrant teacher of blood coagulation in related pathologies, especially coronary heart disease. Mr. Eichelberger developed and published the first clinical laboratory methods manual for blood coagulation analysis as well as having individually developed the first commercially available coagulation reagents in the world notwithstanding also achieving athletic fame playing basketball as a Harlem Globetrotter and standing 6 feet 8 inch tall.
Mr. Brady has 35 years of global sales, marketing and executive management and leadership experience. Major accomplishments in product invention and development includes United States Patent “inventor” citations: #6,066,296, and commercialized, Plateletworks®,#6,872,572, #6,410,337 & MAXACT® #6,417,004 and in numerous Food and Drug Administration applications and clearances highlight his commercial success. Notably, these recent inventions have already been cited in the medical academic literature in 38 instances from cardiovascular oriented and prestigious medical universities including clinical institutions like Duke University, Indiana University, SUNY Syracuse, Mayo Clinic, University of Michigan, Ann Arbor, Baylor, Texas Heart Institute, Lenox Hill Heart and Vascular Institute, Sinai Hospital, Baltimore, Emory University and many others by the end of 2006.
Mr. Brady has maintained long-term relationships with leading clinical physicians and scientists around the globe collegially. As an executive manager he traveled the world extensively and close hand observed noteworthy academic physicians perform especially bypass surgery and PTCA in more diverse institutions in more instances and in more countries than likely anyone else. As such, his first hand experiences and observations keep him clinically relevant regarding public health oriented product need and therefore always enjoyed strategic commercial certainty. His contributions have been described as hands-on and forward thinking, with exemplary comprehension of academic healthcare and the commercialization of products and services. Expertise in the fulfillment of strategic and investment initiatives, in product definition and launch, and customer satisfaction and organizational perspectives also complement his unique executive capabilities.
Mr. Brady’s marketing and sales management career included positions with Ortho Diagnostics (J&J), Union Carbide (Medical Products Division) and Baker Instruments. Before founding Array Medical and during a period of restricted employment and non-competition, Mr. Brady was a founding director in Gladstone Partners, a healthcare consulting firm specializing in corporate identity and promotion. Mr. Brady’s academic background is in the social sciences, having been graduated from the University of South Florida, Tampa, Florida. Mr. Brady also served with the United States Coast Guard and funded his university education by working as a tugboat captain.
~2000 through 2014 non-operational appointments included advisor Luna nanoWorks; Strategic Advisor to Luna Innovations (NASDAQ; LUNA), Roanoke, VA. Additionally, Mr. Brady sat on the Luna advisory board/committee made up of extraordinary business people and notable individuals having previously served current and past US Presidential administrations. Mr. Brady advised Luna Innovations regarding strategy and especially, healthcare opportunity. The Luna business model includes leading research centers with defense and communications (wireless and fiber optics) expertise that are also generating and developing derivative technologies. These related technologies include medical contrast media for magnetic resonance imaging (MRI) from a novel application utilizing a “Buckyball” cage (endohedral metallofulleren—Sc3N@C80) and technologies that support robotic surgery.
Presently, Mr. Brady is an ad hoc advisor to the JSNN graduate program: Joint School of Nanoscience and Nanoengineering (a joint graduate program of North Carolina A&T State University and the University of North Carolina at Greensboro) regarding Professor and Student led emerging enterprises. A recent spinout company received a NSF grant that effectively seeded a new enterprise with Mr. Brady holding both co-inventor (US and Foreign patent pending) and co-founder status among others in that endeavor. NSF grant recipients are typically ~12% of the applications from among the finest academic and scientific community.