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Shot in the Arm: Equidyne Gets New CFO

Maker of drug-injection devices tabs finance department veteran. Also, one CFO's Galaxy quest; former Grant Thornton chairman now CFO at Dynamics D...
Lisa YoonAugust 28, 2001
  • The board of Equidyne Corp. named Jeffery Weinress to the CFO post. Weinress joins the San Diego-based maker of needle-free drug-injection devices from Ligos Corp., where he was CFO. He replaces Michael Pieniazek, who will continue to serve as a director.

    Weinress’s 25-year career includes stints at Bank of America and Hambrecht & Quist. He was also finance chief at Energy America, Omega Environmental, Avenir Pharmaceuticals, and Exigent International.

    Along with several other degrees, Weinress holds an MBA from Harvard.

    Equidyne, which markets its Injex product in Asia, Europe, and North America, has an agreement with Rite-Aid for exclusive retail distribution. The company is also working on a version of Injex which will inject greater volumes of medication, as well a needle-free system for children.

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    Weinress isn’t the squeamish type. Though Equidyne experienced nearly a 90 percent increase in sales in 2000, the company’s share price has gone the way of the rest of the market: down. After a high last October of $5.19, Equidyne shares are trading at a little over $1.

  • Officials at E-mail marketing company Dynamics Direct Inc. said Jack Burke has been appointed finance chief. Burke joins the Los Angeles-based company from Braun Consulting Inc., where as CFO, he led the company through several fund-raisings, include and initial public offering in 1999 and subsequent secondary stock offerings.

    Braun is a rising star in the finance field. Before Braun, he worked at accounting firm Grant Thornton LLP, where he started out as account partner. Braun ended up as chairman of the firm, a position he held for three years.

    So why the switch to Dynamics Direct? “I enjoy building businesses and was impressed with Dynamics Direct’s technology and people,” Burke says.”

    Burke earned his B.A. in business from the University of Notre Dame, which has since named him an “Outstanding Accounting Alumnus.” He is a past president of the Missouri CPA Society.

    Dynamics Direct is funded by technology venture groups such as Botticelli Venture Funds (associated with Omnicom Group), Mofet Venture Capital Fund, Poalim Capital Markets Technologies Ltd., Polaris Venture Capital, Eucalyptus Ventures, and Concord Ventures.

  • Canadian networking company Galaxy OnLine Inc. appointed CFO David Layman as interim president and a member of the board. Layman’s marching orders: oversee the company’s restructuring and secure additional funding.

    That’s a tough assignment. The Toronto-based company is going through a serious shakeup. During the announcement about Layman, Galaxy management also noted the resignations of John Zambakkides, a Galaxy officer and director, Glen Kaiser, a director, and Jim Eiteljorg, company chairman. A statement from Galaxy also indicated that attempts to secure additional funding could also include the sale of the networking specialist. Meanwhile, Galaxy has undergone a substantial cost-cutting program.

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