Location: IdeaHUB, Axinn 246

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Ted Karkus is the CEO and Chairman of the Board of Directors of ProPhase Labs. He financed and advised ID Biomedical, a biotech/vaccine company, when it was valued at $25 million and near bankruptcy. He successfully persuaded the board of directors into making difficult but necessary changes to management, including the replacement of the CEO, and helped to redirect their strategic focus. Seven years later, the company was sold to GlaxoSmithKline for more than $1.4 billion. While advising ID Biomedical, he began a similar decade-long engagement with ProPhase Labs. After years of declining revenues, increasing losses and questionable activities, the company’s direction was in dire need of change -- and the shareholders’ interests in need of protection. He initiated a highly risky but incredibly successful proxy contest in 2009 that led to his position as CEO. As CEO, he directly oversees corporate strategy, legal strategy, shareholder relations and marketing/advertising (including PR, SM/digital, TV, radio and print), as well as R&D/product development and sales team. After inheriting a severely declining brand, he restructured the entire go to market strategy for the flagship Cold-EEZE brand and grew revenues significantly. The net result: in 2017, ProPhase Labs sold the Cold-EEZE brand for $50 million to Mylan, a multibillion-dollar pharmaceutical company.