Press Releases
May 19, 1998 |
Contact: Carolyn
Foy |
CED FastTracker of the Year: Delta Pharmaceuticals
Research Triangle Park--The winner of the Council for Entrepreneurial Development's FastTracker of the Year Entrepreneurial Excellence Award is Delta Pharmaceuticals, Inc.
CED's FastTrac entrepreneurial training program is often called "boot camp" for entrepreneurs who want to aggressively grow their companies. This award recognizes the ingenuity, hard work and commitment to a dream that characterizes successful completion of the course and that will guarantee company success in the future.
Delta Pharmaceuticals, Inc. was founded in 1996 by Dr. Kwen-Jen Chang, president, and Dr. Hugh O. Pettit, vice president, research and development, to pursue the development of novel delta receptor compounds for improved analgesia and other therapeutic applications affected by the delta receptor.
Chang and Pettit participated in FastTrac and built a business plan to use for funding and planning purposes. Coming from scientific backgrounds, they sought to balance their technical expertise with business know-how through FastTrac.
"The founders of Delta Pharmaceuticals, Dr. Hugh Pettit and Dr. Ken Chang came from strong scientific backgrounds at Burroughs-Wellcome. In starting their business, they recognized that they needed to round out their business skills, and used FastTrac as a tool to do exactly that. Both founders were seriously committed to FastTrac - they listened to advisors, they participated as a team and they implemented the ideas. They got the most out of FastTrac that they could, because they were serious about it and they acted on what they learned." -Tim Gupton, Hughes Pittman & Gupton, LLP.
About CED
The Council for Entrepreneurial Development, located at the CED Entrepreneurship Center in Research Triangle Park, NC, was formed in 1984 to stimulate the creation and growth of high-impact companies in the greater Research Triangle region. CED provides education, mentoring and capital formation resources to new and existing high-growth entrepreneurs. CED sponsors annual conferences, seminars, workshops and monthly programs on entrepreneurial management and finance. CED also offers the FastTrac entrepreneurial training program, youth programs and other outreach programs.
CED is a private, non-profit organization and is the largest entrepreneurial support organization in the nation with more than 3,000 members representing 1000 entrepreneurial companies, financiers and professional firms.