Dr. Dinesh C. Patel Honored with Utah Governor’s Lifetime Achievement Medal
October 30, 2020
Utah’s own life sciences entrepreneur, Dinesh C. Patel, PhD, has been honored with the Utah Governor’s Lifetime Achievement Medal for Science and Technology for his contribution in the field of biotechnology and pharmaceuticals. “This honor is well-deserved,” said Kelvyn Cullimore, president and CEO of BioUtah. “Dr. Patel has been instrumental in founding and bringing a vision to the Utah life sciences industry that we know today. And, he continues to make his mark on our community. A big BioUtah congratulations to Dr. Patel!”
From ideation to creation to implementation, Dr. Patel has worked tirelessly and quietly to make Utah’s science and technology footprint substantive and strong. It has been nearly 40 years since Dr. Patel came to Utah. His innovations and hard work brought financial success and improved the lives of thousands across the globe. But Dr. Patel did not slow down. He continues to drive new and better innovations and technology supporting Utah companies and organizations with his time, effort and funding. Dr. Patel works to make sure Utah is a beacon for innovation and is entirely deserving of recognition by the State of Utah with a lifetime achievement Governor’s Medal for Science and Technology.
Dr. Patel founded TheraTech Inc., in 1985 serving as president and CEO. He led the company in a successful initial public offering in 1992, and successful acquisition in 1999 when Watson Pharmaceuticals, Inc. purchased the company for over $350M. With over 250 employees at the time of acquisition, TheraTech was a research and development company that specialized in technologies used to administer controlled, time-release medicines, including transdermal patches, oral systems for delivering pain medications, topical preparations and cell-targeted technologies, which are commonplace today.
He has continued to start and grow companies in the state, founding and cofounding other successful ventures, including a family investment firm, Patel Family Investments, which has a current portfolio of over 25 early-stage companies and 12 private equity/venture funds.
Dr. Patel has received distinguished honors locally and across the globe for his leadership, mentorship and contributions to the scientific communities, including the State of Utah’s Governor’s Medal for Science and Technology Award – Industry Category in 1996.
Bottom line. Dr. Patel is a cornerstone of Utah’s life sciences industry and this recognition speaks volumes about his passion and achievements.