Velosal Medical

Board of Directors and Officers


Valosal’s Board of Directors Serves as its Management Team

  • Richard A. Franco, Sr., Chairman of the Board
  • Mr. Richard Franco, Sr. is the Chairman of the Board of Velosal Medical. Mr. Franco has over 35 years of executive and leadership experience in the healthcare industry and currently is President of the Richard’s Group, Ltd.    Mr. Franco’s accomplishments include Chairman, President and Chief Executive Officer of DARA BioSciences, Inc. ($DARA), Co-founder, President and Chief Executive Officer of LipoScience, Inc. ($LPDX), Mr. Franco held several senior executive positions and served on the Executive Committee of Glaxo, Inc., as well as over 16-years with Eli Lilly and Company. He has served on numerous boards including Trimeris Inc. ($TRMS), EntreMed, Inc ($ENMD), Salix Pharmaceuticals ($SLXP), TriPath Imaging, Inc.($TPTH), NeoMatrix Tranzyme Pharma ($TZYM), Amarillo Biosciences ($AMAR). Presently Mr. Franco serves as a director of Islet Sciences ($ISLT), Metropolitan Health Networks, Inc. ($MDF), and the Research Triangle Chapter of the National Association of Corporate Directors (NACD). He received his Pharmacy Degree from St. John’s University College of Pharmacy.
  • Ronald Stanton, President and CEO, Member Board of Directors
  • Ron Stanton is the President and Chief Executive Officer of Velosal Medical. Mr. Stanton is an accomplished senior executive with a broad range of business experience in the pharmaceutical and healthcare industry acquired over a 40 year period with LipoScience, Glaxo Inc. and The Upjohn Company. Over his career, he has held positions of increasing responsibility ranging from sales representative to President and CEO. Mr. Stanton’s extensive experience includes both the public and private sectors with emphasis in executive and general management, strategic planning, business development, startup strategies, fund raising, sales and marketing. Mr. Stanton has been instrumental in the startup of several local companies and has served on the Board of Directors for LipoScience, EpiGenesis Pharmaceuticals, and Circadian Inc
  • Duane Tester, RPh, MBA, Chief Operating Officer, Secretary of Board of Directors
  • Mr. S. Duane Tester, RPh, MBA is the Chief Operating Officer and Secretary of the Board of Directors. He is a co-founder and serves as President and CEO of Cercore, LLC, a medical device company specializing in the development of surgical instruments. Mr. Tester guided Cercore through the early stages of fundraising and development of the Newcomb Extractor™. He is a registered pharmacist with over 25 years of experience in sales and account management in the medical device, pharmaceutical, and diagnostic industry. Mr. Tester has held management positions with Novartis Pharmaceuticals and Millennium where he oversaw sales of over $58 million as a Regional Sales Manager in the Mid-Atlantic Region.

    Previously he held several positions of increasing responsibilities at LipoScience a start-up diagnostic testing company, joining the company prior to launch and serving as the first account manager establishing a sales model that resulted in over $30 million in sales. Mr. Tester has extensive experience in operations, sales and account management and managed care. He is a graduate of the University of North Carolina at Chapel Hill with a degree in pharmacy and holds an MBA from the Lundy-Fetterman School of Business at Campbell University.

  • Benjamin R. Lapsley, Chief Financial Officer
  • Benjamin R. Lapsley, CPA, is the Chief Financial Officer of Velosal Medical. His background includes over 20 years of experience in financial management in the medical device sector, including roles with Steris Corporation, Closure Medical Corporation and Ethicon, Inc. (a Johnson & Johnson company).

    Mr. Lapsley began his career with six years in the “big four” area of public accounting before becoming Chief Financial Officer of Environmental Field Services Inc. and later Surgicot, Inc. Both of these businesses were startups and later sold to larger acquirers.  He has experience with both publicly-held and private businesses, including SEC and Sarbanes-Oxley reporting requirements.  Mr. Lapsley is a Certified Public Accountant and a graduate of Baylor University with a degree in accounting.

  • David L Newcomb, Chief Technology Officer
  • David L. Newcomb is the Chief Technology Officer. Mr. Newcomb graduated Summa Cum Laude in Electrical Engineering from Clemson University. He is the holder of over 20 awarded US patents and he has extensive development and manufacturing experience in electrical, mechanical, software and firmware design for commercial and industrial products and systems.

    As a founding employee of Parata Systems, Mr. Newcomb held positions of Director and Chief Engineer in the pharmacy automation industry. He has previous experience in the plasma automation, consumer electronics, bioscience and the medical device industries including medical robotics automation. Mr. Newcomb currently owns Optic Angle, selling high reliability board level cameras designed for industrial applications and Axonsource, an engineering product design contracting company focused on early product development.