Researcher and Dermatologist--Dr. Eric Bernstein--Credits EMTM for his Recent Business Success

 

For more information, contact:

Lisa Meritz
(lzmeritz@seas.upenn.edu)
215-968-6288
Researcher and Dermatologist--Dr. Eric Bernstein--Credits EMTM for his
Recent Business Success
         
Philadelphia, Pa., February 28, 2002--Even after selling his company DakDak
Photoaging Technologies, Inc. for up to $3 million in cash this January to
Charles River Laboratories, Inc., Eric Bernstein, leading physician and
researcher in the field of skin care, still feels he has much to learn from
being a student in University of Pennsylvania's Executive Master's in
Technology Management (EMTM).
         
Bernstein credits EMTM, with its combination of Penn Engineering classes in
emerging technologies and Wharton management courses, for much of his
recent business success in finding strategic partner Charles River
Laboratories to help him take DakDak, his new gene-based laboratory testing
platform, to the next level.
         
DakDak enables researchers to determine, without animal testing, whether
cosmetics and topical sunscreens may be effective in preventing skin damage
caused by sunlight. But DakDak's greatest promise may lie in its ability to
shorten the photo-toxicology process and get new drugs to market more
quickly.  Currently the FDA-approved test for assessing the skin cancer
risk of certain drugs can take from six months to a year. The technology
now in use at DakDak Photoaging Technologies, if validated, may shorten
this time to less than a week.
         
When he began EMTM in September 1998, Bernstein had set up his laboratory,
but he realized he needed to know more to turn that lab into a successful
business. Bernstein directed all of his course work towards that business
goal.  In EMTM courses, he refined his intellectual property portfolio, and
decided to pursue a strategic partnership rather than venture capital. But,
it was through his entrepreneurship class with Professor Tom Cassel that he
developed the confidence and contacts to find that partner.  Cassel
introduced him to business consultant Martin Schmeig, who in turn helped
him develop a strategic partnership with Charles River, a leading provider
of in vivo and in vitro models worldwide. "Dr. Cassel told me that if I
could hold Martin Schmeig's attention, I would succeed and he was exactly
right."
         
For Bernstein, finding a strategic partner is just the beginning.  He will
continue his involvement with DakDak as a consultant for Charles River,
coordinating DakDak research, for a minimum of three years. But attending
EMTM on weekends, consulting on DakDak and serving as director and sole
surgeon for two laser centers, his other business endeavor, isn't enough to
match Bernstein's energy level.  With his fellow EMTM students, Bernstein
is working on several other projects and his collaboration with Schmeig
continues too.
         
As to graduation, Bernstein says, I could graduate this year, but I want to
take more classes Mergers and Acquisitions, Leadership and others.  I would
like to maintain my relationship with EMTM indefinitely.  Not only does
EMTM teach you how to be an entrepreneur and run a business, but it puts
you in touch with people who can help you achieve those goals."

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