INVESTMENT TEAM
DAVID ADAIR, MD, MBA
Co-Founder & Managing Director
Dave Co-Founded Solas BioVentures based upon the desire to bring much needed innovation to the patient’s bedside. This patient centric focus came from his long academic medical career providing care and solutions to leverage the healthcare equation of Value = Quality /Cost. He has operated a startup MedTech, co-founded a large regional medical specialty group, as well as grown angel investing into a full fledge venture fund targeting MedTech, pharma, diagnostics, and special healthcare situations. Dave was the Southeast Medical Device Association member of the year in 2017. He has served on Life Science Tennessee Association Board previously. He is a widely published author with over 100 articles and a frequent speaker to academic venues throughout the U.S. and E.U. He retired as professor emeritus from the University of Tennessee College of Medicine in the Department of Obstetrics and Gynecology. His prior board experience is notable for Veran Medical acquired by Olympus Medical, NxThera acquired by Boston Scientific, Aegea Medical acquired by Cooper Surgical, and Aerial BioPharma acquired by Jazz Pharmaceuticals. Besides serving on the board of Arrivo BioPharma he serves on Veranex Solutions, Francis Medical, Knopp BioSciences, Intershunt Technologies, and Vesalio.
Dave earned a BS in Biology from Morehead State University, a MD from The Joan C Edwards School of Medicine of Marshall University, Residency in Obstetrics & Gynecology from The University of Florida, Maternal Fetal Medicine from Wake Forest University, and an MBA from The Gary W. Rollins College of Business of The University of Tennessee Chattanooga.
MARK HACKETT, JD
Co-Founder & Managing Director
Mark is an attorney who has spent nearly 20 years practicing extensively in the life sciences and corporate law areas, including serving over 10 years as General Counsel to a biopharma and med-tech company specializing in pregnancy health. Mark has handled a wide range of life science matters, including company financing, investor representation, M&A, strategic alliances, technology licensing, regulatory, IP strategy, and clinical, manufacturing and distribution contracting. Mark earned his B.A. from Tulane University and his J.D. from Vanderbilt University School of Law. Formerly a partner at a large, national law firm, Mark co-founded Evans Harrison Hackett PLLC in 2007, where he serves as managing partner. After managing several successful angel group investments, Mark and Dave teamed up with Casey to form Solas BioVentures in 2014.
MICHAEL HOEY, PHD, MBA
General Partner
Michael is a serial entrepreneur, founding eight medical products companies, one agricultural company, and one musical products company. Prior to that he taught and performed research at the University of Minnesota Medical School, the College of Engineering Sciences, and the Carlson School of Management. Professor Hoey also taught in the School of Biological Sciences at Hamline University in St. Paul, Minnesota. Michael was also Executive Chairman of a financial institution that he directed from $150M to more than $2.5B. Michael is a prolific inventor with over 200 patents granted and/or applied for. Collectively, the start-up medical companies he has been involved in raised $400 million of capital. Four of those companies combined have harvested greater than $1.5B and two more are commercializing product. He also harvested the musical company, and the agricultural company is in commercialization.
SCOTT RADER, MBA, AIF
Principal & Senior VP
Scott has over 25 years of experience in investment management and banking. At Solas, his focus is on capital raising, investor relations, compliance, and corporate finance. He is also a mentor for Life Science TN, which incubates early stage life science companies domiciled in the State of TN. Prior to joining Solas, Scott was a Senior Vice President for Business Development at Argent Financial Group, a $25B trust and specialty asset manager with offices across the Southern U.S. Scott earned his MBA in Finance from Wright State University and his BS in Aerospace Engineering from the University of Michigan.
MICHAEL ACKERMANN, PHD, MBA
Managing Director
Dr. Ackermann serves as the co-founder and COO for Arrivo Management LLC. He is the founder of Magnatas, LLC, supporting healthcare companies and venture firms in strategy development, business planning, organizational effectiveness, and process improvement. Previously, he served as Senior VP for Global Commercial Solutions at Quintiles (IQVIA) leading the integration of clinical and commercial activities. Prior to Quintiles, Michael spent more than 18 years at Eli Lilly and Company where he served as the leader of the US Neuroscience Business Unit. He grew revenue to over $4B and led the unit's performance improvement, including the turnaround of major product, and overseeing two successful product launches.
Michael holds a BS from Hampden-Sydney College in VA, a PhD in immunology from the Drexel University College of Medicine, and an MBA from Kenan-Flagler School of Business at UNC Chapel Hill.
DAVID BELITZ, MBA
Partner
David Belitz currently serves as the Chief Executive Officer of The Lupton Company, LLC. He joined Lupton in 1997 and served as the controller and CFO before being appointed as the CEO in January 2012.
Mr. Belitz is a founding general partner of the Chattanooga Renaissance Funds (I and II), a series of angel funds investing in seed and early-stage businesses in Chattanooga and the surrounding region. He also serves on the investment committee of the Benwood Foundation and the endowment committee of the University of Chattanooga Foundation.
David holds a BS degree in Business Administration and a Master of Accountancy degree from the University of Tennessee at Knoxville. His Master of Business Administration (MBA) degree is from the University of Tennessee in Chattanooga.
Christian Snyder
Analyst
Christian Snyder earned his BA in Finance and Investing from the University of Tennessee at Chattanooga while playing middle linebacker. Using two more years of eligibility, he now pursues an MBA with a concentration in data analytics, with plans to study for the CFA. Since joining Solas, Christian has provided expertise about the SPAC markets and financial analytics of current portfolio companies.
TRAVIS MANASCO, MD
Principal
Dr. Manasco earned his medical degree from Tulane University School of Medicine in New Orleans, Louisiana where he was elected to the Alpha Omega Alpha Medical Honor Society. He completed his residency in Emergency Medicine at Boston Medical Center where he served as a chief resident. Dr. Manasco completed a fellowship in Critical Care Medicine at Washington University in St. Louis, Missouri.
Dr. Travis Manasco is a board-certified Critical Care and Emergency Medicine physician and entrepreneur. He is co-founder and Chief Medical Officer of Bio 54, a biotech start-up in Chapel Hill, NC developing drug-delivery technology he invented.
JOSHUA ECKELBERRY, MBA
Principal
Joshua Eckelberry graduated with honors from East Tennessee State University with a BS in Biochemistry as a Mayme Frazier Scholar and then attended Quillen College of Medicine for two years on the nationally ranked rural health track before diverting to pursue an MBA in Healthcare Administration. While in school he pioneered Quillen's anatomy lab internship where he helped create the school's first digital dissector, served as president of the local American Medical School Association, helped negotiated a hospital staffing contract worth over $1M, and raised over $200K for area non-profit clinics. With his understanding of both the science and business sides of the life science industry, Josh helps translate and negotiate the optimal outcome for patients and the companies. Josh has a lifelong commitment to drive positive impact on the community and the world through leveraged change.