The overall figure understates the recovery because inventories needed less rebuilding and consumer spending widened the trade deficit.
Economy Contracted in the First Quarter, but Underlying Measures Were Solid
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Stefan Riedel, Ph.D., M.D.
Stefan Riedel, Ph.D., M.D., is a highly respected clinical pathologist and an expert in diagnostic microbiology and infectious diseases. With over two decades of experience in the medical field, Dr. Riedel has made significant contributions to clinical diagnostics.
Dr. Riedel currently serves as an Associate Professor of Pathology and Laboratory Medicine at Harvard Medical School and as a Clinical Pathologist at Beth Israel Deaconess Medical Center in Boston, Massachusetts. He is the co-director of the diagnostic microbiology laboratory, providing critical insights and expertise in the identification and management of infectious diseases.
Dr. Riedel earned his medical degree from the University of Leipzig in Germany and completed his PhD in Microbiology and Immunology at the University of Calgary in Canada. He subsequently completed his residency in Clinical Pathology at the University of Alabama at Birmingham and a fellowship in Medical Microbiology at Mayo Clinic in Rochester, Minnesota.
Throughout his career, Dr. Riedel has been involved in numerous research projects and clinical trials, particularly focusing on the development and implementation of new diagnostic technologies for infectious diseases. His research has been widely published in peer-reviewed journals, and he is a frequent speaker at national and international conferences on topics related to clinical microbiology and infectious diseases.
He is actively involved in various professional organizations, including the American Society for Microbiology and the Infectious Diseases Society of America, where he contributes to the advancement of the field through his expertise and leadership.
In addition to his clinical and academic responsibilities, Dr. Riedel has a strong interest in global health and has participated in various international health initiatives aimed at improving diagnostic capabilities and disease management in resource-limited settings.
Dr. Stefan Riedel’s commitment to excellence in clinical diagnostics, education, and research has made him a prominent figure in the field of pathology and laboratory medicine, continuously contributing to the advancement of healthcare.
Ali Shazib, DMD
Ali Shazib, DMD, is a member of InnoTech’s Medical and Scientific Advisory Board. He is an Associate Professor of Oral Medicine Oncology and Orofacial Pain and Dean for the Workman School of Dental Medicine. He previously served as the founding Chief Clinical Officer for High Point University Health- Oral Health Network, HPU’s academic oral health system.
Dr. Shazib completed his Bachelor of Dental Surgery from Pakistan (Gold Medalist) and Doctor of Dental Medicine (DMD, Honors) from Boston University School of Dental Medicine. He went on to complete his residency in Oral Medicine at Harvard School of Dental Medicine, where he was elected as Chief Resident for Dana-Farber Cancer Institute and Brigham and Women’s Hospital. Dr. Shazib was a recipient of the prestigious Joseph Henry Award from Harvard School of Dental Medicine, recognized for outstanding contribution in patient care and research.
Dr. Shazib was a practicing owner of a large multi-specialty dental clinic in Maine, managing director of a top 3 DSO, and founding director for hospital oral medicine services at University of North-Carolina Chapel Hill.
Dr. Shazib’s clinical interests include dentistry for medically complex patients, oral oncology (oral healthcare for patients before, during, and after cancer therapy), oral medicine (management of oral-systemic conditions), and orofacial pain (TMD, headaches, migraines, neuropathies). He is the Founding Director and maintains clinical practice in Oral Medicine Oncology Services at Novant Health Cancer Institute and Atrium Health- Wake Forest Baptist/ High Point Medical Center.
In the area of research and discovery, Dr. Shazib interests are in cancer-treatment related oral adverse events, emerging therapeutics for mucosal disorders, tissue engineering and regenerative medicine, and precision medicine. He has recently published guidelines on management of patients suffering from immunotherapy related adverse events. He serves as a peer reviewer for Journals such as Oral Oncology, Oral Diseases, Oral Surgery Oral Medicine Oral Pathology Oral Radiology (OOOO), JAMA (Otolaryngology), Frontiers (Oral Health), Supportive Care in Cancer, and Cancer. Dr. Shazib has published chapters in oral oncology and has given talks internationally in various forums. Dr. Shazib is a site visitor for hospital programs for the Commission of Dental Accreditation (CODA), Department of Education.
Raphael Nir, Ph.D.
Raphael Nir, Ph.D.,
is a member of InnoTech’s Medical and Scientific Advisory Board and an Angel Investor at InnoTech. He is a scientist, entrepreneur, and angel investor with 30 years of biotechnology experience spanning preclinical research, drug discovery, cell-based assays, process development, and recombinant cytokines production.
He is the founder and owner of SBH Sciences, which he built from the ground up to become a leading supplier of recombinant cytokines and a preferred discovery research organization that has assisted more than 180 biotechnology companies since 1997. He is also the founder and owner of SBH Diagnostics, which has a CLIA lab supporting several diagnostics companies. Raphael co-founded the biotechnology companies Karyopharm Therapeutics (NASDAQ: KPTI), Galectin Sciences, and Alma Bio Therapeutics. Additionally, he is a co-founder and partner at Sky Ventures, Woodland Biosciences, and ABI-LAB.
Raphael earned his Ph.D. in biotechnology, his M.S. in biochemistry, and his B.S. in chemistry from Tel-Aviv University, and his M.S. in engineering management from New Jersey Institute of Technology. He was a postdoctoral researcher at Schering Plough Research Institute, where he later became a Senior Scientist/Associate Principal Scientist and developed innovative cell culture processes and solutions related to biological production.
Zeid Barakat, MBA
Zeid Barakat, MBA, is a member of InnoTech’s Board of Directors. He is a partner at a Scimitar Consulting Management firm and a seasoned life science consultant and entrepreneur with over 15 years of experience leading initiatives across the critical value chain in the biopharma and medical device industries. His expertise encompasses digital transformation, advanced clinical development optimization, TechOps manufacturing, and network strategy. Zeid has successfully managed high-stakes commercial launches exceeding $1 billion and has played a pivotal role in numerous M&A and private equity transactions. His career began at PRTM, where he worked as a Director-level consultant, continuing at PwC after PRTM’s acquisition. Some of the firms that he has worked with include Genentech, Moderna, Illumina, ThermoFisher, Foundation Medicine, J&J, Takeda, and Novartis.
As an entrepreneur, Zeid was an early co-founder of Aura Biosciences in 2007, a pioneering VLP (virus-like particle) delivery company (2021 IPO). In 2011, he co-founded Flyberry Capital, an AI/ ML fund quant fund that utilized streaming data to execute trades. At Flyberry, he raised over $25 million in corporate and VC financing, leading to the fund’s acquisition by a private equity firm in 2016.
Zeid received his MBA from the MIT Sloan School of Management, an MA in Biotechnology from Harvard University, and a BA in Biochemistry from Bowdoin College. He is a competitive tennis player, and painter, and considers chess a sport.
Carlos Aparicio, Ph.D.
Dr. Carlos Aparicio, Ph.D., serves as the Chief Operating Officer of InnoTech Precision Medicine.
With over 30 years of leadership experience in product development and commercialization at pharmaceutical and medical devices industries, Dr. Aparicio brings a wealth of knowledge and expertise to our team.
Dr. Aparicio serves as CEO & President of CLAS Automation, Inc., a world-renowned provider of laboratory automation services to Clinical Research Organizations (CROs), pharmaceutical companies, and academia. His extensive career also includes C-level positions and product development roles at leading companies such as ImmunoSite Technologies, Abbott, Beckman-Coulter, Warner-Lambert, and Ciba-Geigy.
Dr. Aparicio is also a Technical Lead for the NIH/RADx-Tech program, focusing on the rapid development of diagnostic tests for infectious disease. In this role, he advises diagnostic companies on their development and commercialization strategies. His involvement in this program underscores his commitment to advancing diagnostic technologies and improving public health.
At InnoTech, Dr. Aparicio leads the development and commercialization of our advanced diagnostic platform, Recognize™, which utilizes multimodal detection to identify disease biomarkers with high precision. His deep understanding of molecular diagnostics and innovative approach are integral to our mission of providing accurate, easy-to-use, and affordable diagnostic solutions.
Dr. Aparicio earned his Ph.D. in Chemical/Biochemical Engineering from Rutgers University, an M.S. in Chemical Engineering from Columbia University, and a B.S. in Engineering Science from the University of Miami. Throughout his career, he has authored numerous publications in peer-reviewed journals and holds several patents in the field of diagnostics.
Dr. Aparicio’s leadership and vision are critical to our efforts to revolutionize healthcare diagnostics, making high-performance diagnostics accessible to all. His dedication to improving healthcare through innovation and scientific excellence is at the heart of InnoTech’s mission.
Reza Mollaaghababa, Ph.D., J.D.
Reza Mollaaghababa, Ph.D., J.D., is a co-founder, a member of the Board of Directors, co-inventor of InnoTech’s technology, and serves as the Chief Strategist at InnoTech Precision Medicine.
As a serial entrepreneur with a keen interest in medical devices, Dr. Mollaaghababa brings over 30 years of experience in microfluidics, electronics, and strategic intellectual property planning to the team.
With a robust background in both science and law, Dr. Mollaaghababa combines expertise in technology innovation, strategic planning, and legal acumen. His multidisciplinary approach is instrumental in steering InnoTech towards achieving its mission of revolutionizing diagnostic testing. His extensive experience includes key roles in various successful ventures where he has been pivotal in driving growth, fostering innovation, and ensuring regulatory compliance.
At InnoTech, Dr. Mollaaghababa’s role involves guiding the company’s long-term vision and strategy. He collaborates closely with the leadership team to identify and capitalize on market opportunities, forge strategic partnerships, and oversee the commercialization of InnoTech’s advanced diagnostic solutions. His insights into the intersection of technology, business, and law enable InnoTech to navigate challenges and achieve its ambitious goals.
Dr. Mollaaghababa’s strategic leadership has been crucial in positioning InnoTech as a leader in the diagnostic industry. His contributions are essential to the company’s efforts to provide innovative, reliable, and accessible diagnostic solutions that improve healthcare outcomes for patients worldwide.
Roya Khosravi-far, Ph.D., PLD
Dr. Roya Khosravi-Far, Ph.D., PLD, is the co-founder, President of the Board of Directors, and Chief Executive Officer of InnoTech Precision Medicine.
She is passionate about translating bench-side discoveries into bedside realities. With over 30 years of experience in translational medicine, she has successfully led numerous programs in research and development, both in academia and industry. She has been involved in translating research from her team to the clinical validation of therapeutics and has achieved early successful exits from device companies.
Dr. Khosravi-Far received her Ph.D. in Genetics and Molecular Biology from the University of North Carolina, Chapel Hill, under the mentorship of Professor Channing Der, and completed her Postdoctoral Fellowship at the Massachusetts Institute of Technology in Cancer Immunology with Nobel Laureate David Baltimore. She holds a graduate certificate from Harvard Business School’s Program in Leadership Development. She served as a Professor of Pathology at Harvard Medical School for 17 years and is an Emeritus Pathologist at Beth Israel Deaconess Medical Center and Harvard Medical School. Additionally, she has held significant roles such as VP of R&D at ZioPharm (Alaunos) and President and CTO at Accurome Health. She also holds certificates in Translational Medicine from Harvard Medical School and Biopharmaceutical Regulatory Affairs from Northeastern University.
Dr. Khosravi-Far leads the research and development team at InnoTech, working to develop and commercialize a high-performance diagnostic platform, Recognize™, which is based on the simultaneous detection of multiple classes of macromolecules from a single specimen. This technology aims to improve accuracy and enable the early detection of complex diseases. She collaborates with in-house experts, external partners, and consulting groups to align the development, validation, and commercialization of Recognize™.
Throughout her career, Dr. Khosravi-Far has been the principal investigator and awardee of numerous grants from prestigious organizations such as the NCI, NHLBI, DOD, and ACS. She is an American Cancer Society Scholar. Her scientific work and discoveries have been cited nearly 16,100 times and she has an i10 index of 85. She has co-authored seventy-nine publications in peer-reviewed journals, co-edited three books, and holds several issued patents. She is the principal investigator of RADx-rad and RADx-rad supplement awards from the NIH for the initial development of Recognize™ and other NIH awards.
Under her leadership, InnoTech has been selected for various incubator and accelerator programs and has received multiple awards and prizes, including MassNextGen, MassMedic Ignite, M2D2/BARDA Impact, Barracuda Bowl (Finalist), EPPICON (First Prize), PxDx (Finalist), Eddies (Finalist), TechConnect Innovation, and more.
Rich Devito, M.S.
Richard DeVito, M.S., is the co-founder and VP of Engineering at InnoTech Precision Medicine.
With a rich background in physics and engineering, Richard brings over 30 years of experience in nanotechnology, MEMs, microfluidics and device research and development, process and product development, and manufacturing leadership to the InnoTech team.
Richard received his M.S. in Physics from Syracuse University and is a physicist by education and an engineer by training. Throughout his career, he has held several key positions, including Principal Engineer at Raytheon, where he designed and optimized manufacturing processes for a variety of devices, including medical devices. At MKS, he served as a Principal Engineer, managing the workflow processes for the manufacturing of chips used in EUA-authorized COVID-19 tests for their customers.
Among his recent roles, Richard held leadership positions at Draper Labs in Cambridge, MA, where he directed and managed the workflow and processes at the biology and MEMS facilities. He also served as the Director of Northeastern University’s Nanomanufacturing facility for eight years, overseeing programs including biosensor development with nanomaterials.
Richard’s expertise spans a vast array of micro and nanofabrication processes and device engineering. He has worked on and led projects ranging from developing optical coatings to infrared sensors and ceramic transducers. He holds five patents on unique equipment and device designs.
As an entrepreneur, Richard co-founded an equipment company that was sold to Veeco Corporation and another technology company with Dr. Roya Khosravi-Far that was sold to GT Advanced Technologies. He also collaborated with Dr. Mollaaghababa on another startup diagnostic company that was recently sold.
At InnoTech, Richard plays a crucial role in engineering and technology development, driving innovation and ensuring the highest standards in product development and manufacturing. His extensive experience and leadership in engineering are vital to InnoTech’s mission of developing advanced diagnostic solutions that are accessible, accurate, and affordable
Rapahel Nir, Ph.D.
Dr. Nir is a scientist, entrepreneur, and angel investor with over 30 years of experience commercializing recombinant cytokines and pre-clinical contract research services. Dr. Nir is the Co-Founder of two preclinical Contract Research Organizations: SBH Sciences and Woodland Biosciences, four biotech companies: Karyopharm Therapeutics (Nasdaq: KPTI), Galectin Sciences, VuJa De Sciences, and Alma BioTherapeutics. Dr. Nir is also Co-Founder of SBH Diagnostics.
To fulfill his vision and help startup companies, he co-founded two additional companies; Sky Ventures and ABI-LAB; a bioincubator located in Natick, MA.
He received his PhD from Tel-Aviv University (Biotechnology; 1990) and Master in engineering management (1997; NJIT). Since 1997, Dr. Nir serves as the President and CSO of SBH Sciences where he manages all company’s R&D and business activities.