Board of Directors

Markus W. Sieger

Chairman of the Board

Mr. Sieger is the President and CEO of Polpharma Group, a large regional pharmaceutical company, focused on Poland, Russia and other CEE markets, active in the development, production and sales of generic drugs and biosimilars. He holds supervisory board seats in public and private European companies. Mr. Sieger was for almost two decades a managing partner of an advisory group helping entrepreneurs in emerging markets to develop, finance, build and operate new businesses both operationally and strategically. Mr. Sieger managed successfully complex and strategic transactions with a focus on the pharmaceutical, food, media and engineering industries.

F. Patrick Ostronic

Vice-Chairman of the Board

Mr. Ostronic is an officer of US Pharmacia International, Inc., a subsidiary of USP, and also serves as the Chief Financial Officer of The USP Group. Mr. Ostronic is also a director of Novit US, Inc., the general partner of Novit.

N. Scott Fine

Chief Executive Officer

Scott Fine has been a Director of the Company since February 2014 and became our Chief Executive Officer on September 14, 2015. From 2004 until 2014, he was a principal at Scarsdale Equities, an investment banking firm located in New York City. Mr. Fine has been involved in investment banking for over 35 years, working on a multitude of debt and equity financings, buy and sell side M&A, strategic advisory work and corporate restructurings. Much of his time has been focused on transactions in the healthcare and consumer products area. Mr. Fine has led global transactions in healthcare, including medical devices, generic pharmaceuticals, and genetics. He also worked with The Tempo Group of Jakarta, Indonesia.

Mr. Fine was Chairman of the Board of The Global Virus Network (GVN), and he also was the lead investment banker on the initial public offering of Green Mountain Coffee Roasters, Inc. and Central European Distribution Corporation (“CEDC”), a multi-billion-dollar alcohol company. Mr. Fine continued his involvement with CEDC serving as a director from 1996 until 2014, during which time he led the CEDC Board in its successful efforts in 2013 to restructure the company through a pre-packaged Chapter 11 process whereby CEDC was acquired by the Russian Standard alcohol group.

Recently, Mr. Fine served as Vice Chairman and Chairman of the Restructuring Committee of Pacific Drilling from 2017 to 2018 where he successfully led the independent directors to a successful reorganization. He also served as sole director of Better Place Inc. from 2013 until 2015. In his role there, Mr. Fine successfully managed the global wind down of the company in a timely and efficient manner which was approved by both the Delaware and Israeli Courts.

Mr. Fine currently serves on the board of directors of Kenon Holdings Ltd. (NYSE: KEN).  Mr. Fine also devotes time to several non-profit organizations, including through his service on the Board of Trustees for the IWM American Air Museum in Britain.  Mr. Fine has been a guest lecturer at Ohio State University’s Moritz School of Law and Fordham University Law School.

Jeffrey L. Tate, PhD

Director, Chief Operating Officer and Chief Quality Officer

Dr. Tate is a seasoned executive with more than 30 years of operations experience in the biotechnology, pharmaceutical and nutritional supplements industries including: branded generic drugs, intellectual property strategy, product development, and cGMP manufacturing. He is intimately familiar with food and drug marketing approval procedures, documentation and strategy in U.S. and foreign markets, experienced in implementation of all aspects of regulatory compliance and in successfully communicating with regulatory agency representatives.

Dr. Tate has successfully established compliant regulated manufacturing operations and integrated regulatory compliance programs resulting in timely, cost effective corporate-wide compliance, meeting regulatory agency requirements and customer expectations. He closely monitors developments in U.S. and international regulations to maintain compliance and identify regulatory and intellectual property strategies for new products and markets. He holds patents and trademarks in material processing and food formulation.

C.E. "Rick" Strattan

Director and Founder

Mr. Strattan was with Pharmatec, Inc. where he became Director of Marketing and Business Development for CDs. He was responsible for CD sales and related business development efforts. From November 1985 through May 1987, he served as Chief Technical Officer for Boots-Celltech Diagnostics, Inc. He also served as Product Sales Manager for American Bio-Science Laboratories, a Division of American Hospital Supply Corporation.

Mr. Strattan is a graduate of the University of Florida with a BS degree in chemistry and mathematics and has also received an MS degree in Pharmacology and an MBA degree in Marketing/Computer Information Sciences from the same institution. Mr. Strattan has written and published numerous journal and white paper articles and a book chapter on the subject of cyclodextrins.

William S. Shanahan


William S. Shanahan is the retired President and Chief Operating Officer of Colgate-Palmolive. He retired in 2005. Mr. Shanahan had been associated with Colgate since 1965, when he joined the company as a Sales Assistant for the International Sales Department.

In 1972, after progressing through various positions in North and South America, he was promoted to General Manager of Colgate’s Brazilian subsidiary, a post he held until 1977, when he was named Vice President of Marketing Services for the U.S. company.

In 1979, Mr. Shanahan was appointed President and Chief Executive Officer of Helena Rubenstein, Inc., then a Colgate subsidiary. In 1980, he became Vice President and General Manager – Western Hemisphere for Colgate and then in 1981 he was promoted to Group Vice President responsible for Europe/Africa, as well as the U.S. Domestic company and Colgate subsidiaries in Canada, South Africa, Australia, and New Zealand. He was also named to the company’s Corporate Operating Committee.

Mr. Shanahan was elected an Officer of Colgate in 1983. In 1984 he was promoted to Senior Executive Vice President, Chief of Colgate Operations with responsibility for Colgate’s worldwide and domestic businesses. In 1989, he was named Chief Operating Officer and in 1992 became President of Colgate.

Mr. Shanahan has served on the Boards of Directors of Molson, Mead, Inc. and Duracell (then owned by KKR), Diageo PLC, MSD Performance Group, a privately held company, Life Technologies, Inc. and Visa, Inc. He serves as a Management Advisor to ValueAct Capital, a San Francisco-based hedge fund. Mr. Shanahan joined our Board of Directors in June 2016.

Mr. Shanahan received his BA from Dartmouth College and attended the University of California, International Christian University in Tokyo, and the University of the Philippines.

Randall M. Toig, M.D.


Dr. Randall M Toig, M.D. is an associate professor at Northwestern University, Northwestern Memorial Hospital. He is also a well-known physician in the Midwest with a thriving private practice of more than 35 years in obstetrics, gynecology and gynecological oncology, Gold Coast Gynecology of Chicago. He also served at Northwestern Memorial Hospital in Chicago during this same time practicing, teaching and serving on active staff. Dr. Toig is consistently listed in the Top Doctors of Chicago and Guide to America’s Top Doctors in his fields.

In addition to his medical practice and teaching, Dr. Toig has served as a consultant to investment bankers evaluating pharmaceutical start-up opportunities. He was also a founder and Board member of Cell Pathways, Inc., a biopharmaceutical start-up that went public in 1997.

Dr. Toig has been an active philanthropist playing an instrumental role as an early contributor to the Friends of Prentice, a foundation focused on the future of women’s health, as well as to the Make-A-Wish Foundation. He was actively involved in the preservation and restoration of the historic landmark Chicago Theatre.

William ‘Bill’ Conkling


William Conkling serves as President of Rafael Holdings, Inc since January 2023 and as its Chief Executive Officer since February 2022. He previously served as the Chief Commercial and Business Officer of the Company from March 8, 2021, to January 31, 2022.

Mr. Conkling has over 20 years’ experience in the pharmaceutical/biotech industry working in Oncology. He has extensive experience launching innovative oncology products. His experience spans across all areas of commercialization including marketing, sales, market access, commercial operations, and business development.

Prior to joining the Company, Mr. Conkling helped lead the launch of Trodelvy at Immunomedics Inc. (acquired by Gilead for $21B in October 2020) as the VP Sales, Marketing and Market Access. Mr. Conkling also spent over 10 years at Novartis Oncology where he helped lead the launch of the first CAR-T therapy approved in the US as the Global Commercial Leader — Kymriah.

Mr. Conkling earned his bachelor’s degree from Fordham University and his Master’s in Business Administration from New York University Stern School of Business in 1998.

Dr. Vivien Wong, PhD


Vivien Wong, Ph.D. is a pharmaceutical executive with over 20 years of experience in the development of drugs and diagnostics. Dr. Wong has held positions of increasing responsibility in Research and Development at Emisphere Technologies, Regeneron Pharmaceuticals, and most recently serving as Executive Vice President of Research and Development at Progenics Pharmaceuticals. At Regeneron, Dr. Wong pioneered translational pharmacology research that supported the development of Arcalyst®, Eylea®, Zaltrap®, Kevzara®, and Dupixent®. At Progenics, she led multifunctional teams to achieve FDA approval of Relistor® Subcutaneous Injection, Relistor® Tablets, AZEDRA®, and PYLARIFY®, including successes in obtaining Breakthrough Therapy, Fast Track, Priority Review, Orphan Drug, and Special Protocol Assessment designations for these products.

Dr. Wong currently serves as an independent advisor to pharmaceutical companies and venture capital firms. Her expertise includes identifying, evaluating, and developing product opportunities, as well as guiding small to mid-size pharmaceutical companies through drug development programs and regulatory processes.

Dr. Wong received her Ph.D. in Anatomy and Neurobiology from the University of Maryland School of Medicine and completed a postdoctoral fellowship in Neurology at the Albert Einstein College of Medicine. She is author on over 40 scientific publications in peer reviewed journals. She is a member of the Scientific Advisory Board of NeuroCuresNY, Inc., Board of Directors of Burke Neurological Institute, and an Advisor to the Westchester County Biosciences Task Force.

Shawn Cross


Shawn Cross has been a director of the Company since January 2024 and has been involved in biopharmaceutical investment banking and, more recently, clinical-stage biotechnology company operations for over 25 years. He served as Chief Executive Officer and Chair of the Board of Applied Molecular Transport from March 2023 until its merger with Cyclo Therapeutics in December 2023. Prior to joining AMT in March of 2020, Mr. Cross spent over 20 years as an investment banker living and working in major financial centers including New York City, London, and San Francisco. Most recently he was Managing Director and Co-Head of Healthcare Investment Banking, and a member of the Investment Banking Management Committee, at JMP Securities. Previously, Mr. Cross was Managing Director, Healthcare Investment Banking at Deutsche Bank Securities, Wells Fargo Securities and Thomas Weisel Partners. He began his investment banking career in the Healthcare Investment Banking Group at Alex. Brown & Sons. He has served on the board of directors of BioPlus Acquisition Corp and currently provides strategic and capital markets consulting services to companies in the biopharmaceutical industry. Mr. Cross holds a B.S. from the University of California, Los Angeles, and an M.B.A. from Columbia Business School.

Trappsol® Cyclo™ is not currently approved for any indication.

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