Click here for Part I & Part II

A biotech industry leader helping fund the next generation of entrepreneurs

Rick Birkmeyer is the CEO of CD Diagnostics and a managing partner at Leading Edge Partners. An accomplished executive and entrepreneur, Dr. Birkmeyer is also the founder of Strategic Diagnostics, a biomedical firm he started in 1990 and built into a multimillion-dollar public company listed on NASDAQ. His current company, CD Diagnostics, provides physicians with analytical tools through corporate partnerships, developing immunoassays to improve patient outcomes. In his role at Leading Edge Partners, Dr. Birkmeyer helps invest in early-stage companies in Delaware and the surrounding region.

Rick Birkmeyer spoke with citybizlist publisher Edwin Warfield for this interview.

EDWIN WARFIELD: Where do you see CD Diagnostics going over the next few years?

RICK BIRKMEYER: Last fall, our board made the decision that rather than work with one or two corporate partners, we would expand the number of corporate partners we have. We have been a leader in infection, first in the periprosthetic joint infection, then in septic arthritis—which is a native infection—but a lot of the information that we have learned in the lab and have patents on can be applied to things like spinal meningitis, sepsis, which are major problems here in the United States. Because of that, we’re looking to partner with other organizations. We’ve talked with companies like the Gates Foundation, many of the leading hospitals, many of the large medical diagnostic companies that are all showing interest in our products.

Because of that, the board decided, “Well, gee, it’s time to branch out of orthopedics and start really focusing on many different types of things.” Now, of course, our orthopedic partners aren’t really fond about this decision that the board made and are scampering to figure out what they can do about it, but that is where we have elected to go.

Q. How did running a public company like Strategic Diagnostics change your perspective as a CEO?

A. I think a lot of it is just good practice. You know, a lot of people say, “Oh, Sarbanes–Oxley! We can’t do this, we can’t do that, it’s so difficult.” I did not find running a public company that difficult, but a lot of the appropriate checks and balances—we already had in place. We talked earlier about the need to have really good advisers. We always have had a law firm that knows how to deal with public documents. We’ve always had our financials audited. Those things are just good business practice. I enjoy putting together a pretty detailed board report and having a board that really scrutinizes what I do, because it ensures that I am doing the right thing. If I can’t convince seven people in my boardroom that I’m doing the right thing, then there’s something wrong with that. So, for me, running a public company was all good practice. Our company now is private, but much of what a public company requires we do today. I don’t think you have seen any or heard any forward-looking statements from me, any solicitations, and we’re private, but they’re just good practices.

The one thing about being a public company that is difficult, especially like SDI was, where we were a very small public company that had very volatile stock, is I love the days when our stock went from 2 to 10, and I was the best guy on the Earth, but the days when the stock went from 10 to 2, and grandma called me or grandpa called me and said, “Hey, how come all my life savings are gone?” Those are tough days, so I surely do not miss that aspect of it.

Connect with Rick on LinkedIn

ABOUT NEWMARK GRUBB KNIGHT FRANK

Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.

Edwin Warfield, CEO of citybizlist, conducts the CEO Interviews.

If you're interested in reaching CEOs, please contact edwin.warfield@citybuzz.co

Connect on LinkedIn