Thomas P. Hess, Cpa, Mba

Thomas P. Hess, Cpa, Mba Email and Phone Number

Chief Financial Officer @ Danforth Advisors
King of Prussia, PA, US
Thomas P. Hess, Cpa, Mba's Location
King of Prussia, Pennsylvania, United States, United States
Thomas P. Hess, Cpa, Mba's Contact Details
About Thomas P. Hess, Cpa, Mba

Pharmaceutical CFO | Fractional CFO | Life Sciences Bio Pharma / Bio Tech | Strategies & Vision | Strategic CFO & Finance Business Partner with a proven track record of success at development stage pharmaceutical companies with revenues up to $20M. Served as Financial Leader at Vicuon, Adolor and Yaupon Therapeutics which resulted in four FDA- approved drugs. Co-Led successful exits to pharmaceutical enterprises including Pfizer and PE firms. Strong working knowledge of business development and expertise empowering finance teams to implement programs which increase revenues, reduce costs, expand/grow operations, and bolster company value. Profit Focus. Growth Mindset.Areas of Expertise:Global Bio Tech / Life Sciences / Pharmaceuticals /Clinical Stage Drug Development / FDA Drug Approval /IPOs / FundraisingProfitability & Cash Flow Enhancement / Life-Saving Medicines / Investor Relations /Revenue Growth /FP&AInvestor Presentations / M&A /Finance Team Leadership / Successful Exits / Audit Oversite, Governance & SOXCEO & BOD Business Partnering / Financial Forecasting, Budgeting (Capital & Operational) / High ROI / Value CreationCareer Highlights:*Former Big 4 Senior Manager (KPMG) & CPA with proven success leading FDA drug approvals and successful exits with large, multi-national life sciences companies (Pfizer, GSK & Actellion).*Raised $40M as CFO at Genomind, a venture-backed clinical diagnostic laboratory, including capital for construction of a $1.5M CLIA-approved genetic testing lab for the mental health space performing upwards of 50K genetic tests per year.*Co-Led revenue growth at Keane, a Private-Equity Backed and Venture-Backed Company, from $20M to $40M in three years and led the successful sale of the enterprise to a larger private equity firm Lovell Minnick for $110M.*Led Adolor Company’s secondary offering and issued over 6M shares of stock for this public company (Nasdaq: ADLR): Raised $140M in capital to fund operations.*Have served as a Fractional CFO for five Development & Growth-Stage Biotech companiesI can be contacted at 610-390-5439 or thomashesscpa@gmail.com.

Thomas P. Hess, Cpa, Mba's Current Company Details
Danforth Advisors

Danforth Advisors

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Chief Financial Officer
King of Prussia, PA, US
Website:
danforthadvisors.com
Employees:
154
Thomas P. Hess, Cpa, Mba Work Experience Details
  • Danforth Advisors
    Chief Financial Officer
    Danforth Advisors
    King Of Prussia, Pa, Us
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  • Organovo Holdings, Inc.
    President, Chief Financial Officer
    Organovo Holdings, Inc. Oct 2021 - Present
    San Diego, California, Us
    Organovo Holdings, Inc. (Nasdaq: ONVO), is a clinical stage biotechnology company that is focused on developing FXR314 in inflammatory bowel disease (“IBD”), including ulcerative colitis (“UC”), based on demonstration of clinical promise in three-dimensional (“3D”) human tissues as well as strong preclinical data. FXR is a mediator of gastrointestinal and liver diseases. FXR agonism has been tested in a variety of preclinical models of IBD. FXR314 is the lead compound in our established FXR program containing two clinically tested compounds (including FXR314) and over 2,000 discovery or preclinical compounds. FXR314 is a drug with safety and tolerability after daily oral dosing in Phase 1 and Phase 2 trials. Further, FXR314 has FDA clinical trial authorization for a Phase 2 trial in UC.Our current clinical focus is in advancing FXR314 in IBD, including UC and Crohn’s disease (“CD”). Our second focus is building high fidelity, 3D tissues that recapitulate key aspects of human disease. We use our proprietary technology to build functional 3D human tissues that mimic key aspects of native human tissue composition, architecture, function and disease. We believe these attributes can enable critical complex, multicellular disease models that can be used to develop clinically effective drugs across multiple therapeutic areas.
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  • Tharimmune, Inc. (Formerly Hillstream Biopharma, Inc.)
    Chief Financial Officer
    Tharimmune, Inc. (Formerly Hillstream Biopharma, Inc.) Jun 2021 - Present
    Tharimmune, Inc. is a biotechnology company developing a portfolio of therapeutic candidates for rareimmune, inflammatory, and oncologic diseases. The Company is progressing towards acquiring aclinical-stage asset, known to suppress chronic, debilitating pruritis or “uncontrollable itching” inprimary biliary cholangitis (PBC), a rare orphan liver disease with no known cure.  The Company’searly-stage immuno-oncology pipeline includes novel multi-specific antibodies targeting unique epitopes with novel mechanisms of action against well-known, validated targets in multiple solid tumors.  Tharimmune has a license agreement with OmniAb, Inc. to access the company’s antibody discovery technology platform against specified targets.
  • Panavance Therapeutics Inc.
    Chief Financial Officer
    Panavance Therapeutics Inc. May 2023 - Present
    Berwyn, Pennsylvania, Us
    Panavance Therapeutics Inc. is a privately-held, clinical-stage pharmaceutical company developing a novel oncology platform focused on improving the outcomes and quality of life for cancer patients. Panavance, a US Delaware company, is located in Berwyn, PA. It was founded in 2021 and is a subsidiary of Swiss privately held Ed. Geistlich Söhne AG für Chemische Industrie.
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  • Danforth Advisors
    Chief Financial Officer
    Danforth Advisors Oct 2021 - Present
    Waltham, Massachusetts, Us
    Providing strategic and operational finance leadership to private, public, development stage and commercial stage life science companies:President & CFO - Organovo, Inc.CFO - Enyo Pharma
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  • Genomind, Inc.
    Senior Vice President And Chief Financial Officer - Retired
    Genomind, Inc. Aug 2014 - Jun 2021
    King Of Prussia, Pennsylvania, Us
    Genomind, Inc. has built a leading precision healthcare platform to significantly advance care for mental health patients. At the core of the platform is the Genecept Assay™, a molecular test that predicts patient response to different psychiatric medications, thereby allowing for optimal drug treatment. Hired after venture capital funding was obtained and serves as member of executive leadership team. Manage internal and external reporting to investors, cash management, annual budgeting. forecasting, HR and Compliance.►Built and led an effective and highly qualified accounting and finance team.►Reduced month-end close from 15 days to 5 business days►Improved accuracy of forecasting by creating a new financial reporting package ►Created monthly line of business financial reports to analyze and improve margins.►Responsible for moving PA headquarters and overseeing the construction and financing of our CLIA lab and lab equipment►Raised private equity financing and worked with outside lenders to obtain additional non-dilutive financing
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  • Fssolutions
    Member Board Of Directors (Until Sale Of Company To Vault Health In May 2021)
    Fssolutions May 2017 - May 2021
    FSSolutions, formerly FirstLab, is a full service compliance management solutions company founded in 1989.FSSolutions provides drug and alcohol testing services. In addition, they have evolved to meet the needs of their diverse client base, which includes Fortune 500 companies, law enforcement agencies, state and municipal governments, and treatment facilities. Today, they offer a full range of services related to managing substance abuse testing programs.►Appointed to the Audit Committee►Assist CFO with accounting and reporting issuesAssisted with sale of FSS to Vault Inc. in May 2021
  • Genomind, Inc.
    Interim Chief Executive Officer
    Genomind, Inc. Aug 2018 - Oct 2018
    Appointed interim CEO by the board of directors after the current CEO accepted a CEO role at another company.
  • Keane
    Executive Vice President And Chief Financial Officer
    Keane Aug 2011 - Apr 2014
    New York, Ny, Us
    Led all financial and fiscal management aspects of a private equity backed $40M + operation in a highly leveraged environment for the largest provider of unclaimed property communications, compliance, and consulting services in the country.Served as member of executive leadership team. Managed internal and external reporting to investors, income tax compliance, cash management, annual budgeting and forecasting, and the establishment of financial policies and controls. Led the sale of the company to Lovell Minnick in February 2014 which included a new $50M debt agreement and $5M line of credit.►Raised $4M in private equity financing and worked with outside lenders to renegotiate debt covenants on $50M debt. ►Built and led an effective and highly qualified accounting and finance team.►Improved accuracy of forecasting by creating a new financial reporting package that reduced number of pages from 50 to 19, corrected the company’s revenue recognition policy, and streamlined the accounting for expenses.►Reduced outstanding/delinquent receivables from $2M to $500K, improving “Days Sales Outstanding” from 55 days to 45 days and improved working capital by $4M.►Created monthly line of business financial reports to analyze and improve margins.►Implemented new time/billing software and expense reporting for Keane Consulting group as it grew from 3 individuals to 20 with 20K billable hours/$6M in revenue.►Reduced operating expenses by 30% by moving PA location from a 43K-sq-ft facility to a 23K-sq-ft facility.►Improved companies’ Dun & Bradstreet pay index by reducing outstanding Accounts Payable (AP) from $1M to $300K.►Uncovered $3M of additional Tax Net Operating Losses by cleaning up all past tax issues.►Reduced audit fees by 50% and time to complete audit from 30 days to 10 working days by engaging new audit firm. ►Reduced month-end close from 15 days to 5 business days; accelerated month-end client invoicing process by 5 days.
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  • Yaupon Therapeutics, Inc
    Senior Vice President, Finance And Cfo
    Yaupon Therapeutics, Inc Jul 2008 - Aug 2011
    A privately-held specialty pharmaceutical company that developed and clinically proved a topical formulation of nitrogen mustard for the treatment of early-stage cutaneous T-Cell lymphoma, an orphan disease. The formulation was approved by the FDA and is sold under the name of Valchlor (mechlorethamine) Gel. The asset was sold to Achtelion and subsequently J&J.Hired as the company’s first full-time CFO with the intent of taking the company through an IPO. Operated in a lean environment, requiring “hands on” involvement in all financial and administrative activities, including HR, IT, Investor relations and legal functions. Responsible for internal and external reporting to investors, income tax compliance, cash management, annual budgeting and forecasting and the establishment of financial policies and controls.►Implemented initial accounting, reporting and closing processes to produce timely and accurate financial statements, budgets and forecasts.►Financial lead and executive team member that raised $9.5 million in venture capital financing during the challenging private equity markets of 2008-2010.►Implemented and coordinated the tracking of clinical trial costs and activities at eleven clinical sites.►Identified and collected $2.0 million in grants to extend funding horizon of Series C equity financing.►Led restructuring of company to preserve cash and focus efforts on company’s lead program.►Created an incubator within the Company to share costs and assist five start-up companies in their first two years of operations.►As Secretary and Treasurer, supported the board of directors and administered the stock option plan.
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  • Adolor Corporation
    Vice President, Finance And Cfo
    Adolor Corporation Oct 2005 - Jul 2008
    Us
    A publicly owned (NASDAQ-ADLR) biopharmaceutical company specializing in the development and commercialization of Entereg for POI in collaboration with GlaxoSmithKline. Reported to the CEO and charged with leading the company’s financial affairs and investor relations, including accounting, finance, SEC reporting, treasury, tax and Sarbanes-Oxley activities. ►Directed public offering of 5.8 million shares ($140 million) of common stock.►Directed the financial aspects of the Company’s collaboration with GlaxoSmithKline. ►Implemented COGNOS budgeting and forecasting software, which significantly reduced the time necessary to produce the annual budget and quarterly forecasts.►Established the processes associated with revenue recognition and cost of sales/inventory for the launch of Entereg.►Participated in road show presentations, investor conferences and conducted quarterly analyst calls.►Improved financial controls including reducing month-end close from 10 days to 6, implementing changes in the accounts payable department, which resulted in $200,000 of favorable accounts payable issues, implemented SFAS 123R and directed the administration of the Company’s stock option plans.
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  • Vicuron Pharmaceuticals
    Corporate Controller
    Vicuron Pharmaceuticals 2003 - 2006
    Us
    A publicly owned (NASDAQ – MICU) International biopharmaceutical company focused on the discovery, development, manufacture, and marketing of drugs for the treatment of serious bacterial and fungal infections. The Company’s lead drug candidates were Dalbavancin and Anidulafungin. The company was acquired by Pfizer, for $1.8 billion in September 2005. Anidulafungin (Eraxis) was approved in early 2006.Recruited to establish and lead the accounting and finance department upon the company’s relocation to the Philadelphia area. Reported to the CFO with full responsibility for all SEC filings, internal financial reporting, accounting, expense control, cash and investment management, equity and stock administration, insurance program (US and Europe), annual financial audit and quarterly reviews, corporate tax, human resources, IT Department, coordination of European subsidiary’s finance and accounting activities, as well as leading the corporate budgeting process. Oversaw staff of 15 (9 in US, 6 in Italy).►Integrated European finance and accounting operations subsequent to merger with Biosearch Italia.►Provided finance support for two fundraisings: Follow-on $83 million for the Biosearch merger Block trade shelf takedown for $74 million.►Implemented Sarbanes-Oxley program for both the US and European operations.►Responsible for coordinating the “hand off” of all finance activities to Pfizer at date of merger.►Initiated the process to obtain the Pennsylvania R&D credit of $565,000 in 2003.►Implemented changes in accounts payable department, which resulted in $150,000 of favorable accounts payable issues.►Consolidated Vicuron’s company insurance program, which resulted in a savings of $100,000.►Reduced printing and filing costs associated with SEC filings by $100,000 annually.►Implemented the process for employees (worldwide) to exercise over $12 million of stock options.
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  • Innovative Solutions And Support, Inc.
    Controller
    Innovative Solutions And Support, Inc. 2000 - 2003
    Exton, Pa, Us
    A publicly owned (NASDAQ – ISSC) international avionics supplier to military, business and commercial markets and operators. The company designs and manufactures RVSM compliant Air Data Systems, Flat Panel Display Systems, Fuel quantity and flow measurement and Engine Hydraulic displays. The Company specializes in OEM and retrofit systems that enhance performance and reliability. Significant projects included the retrofit of the KC-135 refueling tankers.Recruited to lead company’s IPO initiative as well as revamp the accounting department after the previous controller was terminated. Reported to CFO, with responsibility for managing financial activities including treasury, taxes, SEC reporting, product pricing, insurance, budgeting, and forecasting.►Led successful IPO (3.5 million shares issued for $38 million) and completed initial SEC filings, including the first Form 10-Q, Form 10-K and proxy statement.
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  • Kulicke And Soffa
    Controller
    Kulicke And Soffa 1997 - 2000
    Singapore, Sg
    A publicly owned (NASDAQ – KLIC) global leader in the design and manufacture of semiconductor assembly equipment.Responsible for staff of 12 and all accounting department activities, including accounting and financial reporting at both corporate and plant levels. Prepared SEC reporting documents (Form 10-K, 10-Q, the annual report, and Proxy). Coordinated annual external audit with outside auditors and assisted in implementation of new FASBs.►Led due diligence on two acquisitions.►Spearheaded implementation of new enterprise software system, using Baan software. Developed and instituted training program to facilitate conversion.
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  • Macsteel Service Centers Usa
    Assistant Controller
    Macsteel Service Centers Usa 1994 - 1997
    Us
    Directed all aspects of internal and external financial reporting. Prepared quarterly forecasts, plus formulated and administered annual budget. Managed and directed external auditors and banking audits.
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  • Kpmg
    Senior Manager
    Kpmg 1985 - 1994
    New York, Ny, Us
    Led all aspects of multiple audit engagements, including planning and scheduling. Audited clients’ financial statements and provided audit opinions, business advisory services, and technical advice on accounting matters, SEC reporting requirements, and internal control improvements. Clients ranged to over $500 million in annual revenues and included manufacturing companies, banks, financial services organizations, and real estate firms. Administered and monitored department budget, overseeing staff of 10 professionals. National instructor for staff training.
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Thomas P. Hess, Cpa, Mba Skills

Big 4 Pubic Accounting Experience Raising Finance Sec Filings Sarbanes Oxley Treasury Management Staff Management Financial Analysis Forecasting Financial Reporting Mergers Budgets Sarbanes Oxley Act Financial Modeling Due Diligence Internal Controls Process Improvement Strategic Planning Investor Relations Finance Start Ups Mergers And Acquisitions Fundraising Corporate Finance Accounting Restructuring Leadership Strategy Management Auditing Financial Accounting Human Resources Cross Functional Team Leadership Managerial Finance Cash Management Executive Management Budgeting Business Process Improvement U.s. Sec Filings

Thomas P. Hess, Cpa, Mba Education Details

  • Penn State University
    Penn State University
    Accounting
  • University Of Pittsburgh Katz Graduate School Of Business
    University Of Pittsburgh Katz Graduate School Of Business
    Finance

Frequently Asked Questions about Thomas P. Hess, Cpa, Mba

What company does Thomas P. Hess, Cpa, Mba work for?

Thomas P. Hess, Cpa, Mba works for Danforth Advisors

What is Thomas P. Hess, Cpa, Mba's role at the current company?

Thomas P. Hess, Cpa, Mba's current role is Chief Financial Officer.

What is Thomas P. Hess, Cpa, Mba's email address?

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What schools did Thomas P. Hess, Cpa, Mba attend?

Thomas P. Hess, Cpa, Mba attended Penn State University, University Of Pittsburgh Katz Graduate School Of Business.

What are some of Thomas P. Hess, Cpa, Mba's interests?

Thomas P. Hess, Cpa, Mba has interest in Education, Health.

What skills is Thomas P. Hess, Cpa, Mba known for?

Thomas P. Hess, Cpa, Mba has skills like Big 4 Pubic Accounting Experience, Raising Finance, Sec Filings, Sarbanes Oxley, Treasury Management, Staff Management, Financial Analysis, Forecasting, Financial Reporting, Mergers, Budgets, Sarbanes Oxley Act.

Who are Thomas P. Hess, Cpa, Mba's colleagues?

Thomas P. Hess, Cpa, Mba's colleagues are Doug Chambers, Megan Ernst (Reilly), Sydney Hunt, Devin Doolin, Manasa Ra, Maria Weber, Cpa, Martha M. Denyer, Mba.

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