One of Utah’s most famous residents takes on new challenge.
By The American Bazaar Staff
WASHINGTON, DC: Utah venture capitalist, biotechnology pioneer and philanthropist Dr. Dinesh Patel has been appointed Chairman of the Board of Directors of Salt Lake City’s art-and-technology museum, The Leonardo.
Alexandra Hesse, executive director of The Leonardo, said in a statement, and reported by The Salt Lake Tribune, that Patel “has been a significant contributor to The Leonardo since its earliest days and we are thrilled he will be leading our Board. As one of Salt Lake City’s leading citizens Dinesh will be instrumental in helping us reach the next phase of growth.”
Patel, in a statement, said, “The Leonardo is committed to delivering a hands-on, inspiring, educational and relevant visit experience for guests of all ages. It is near and dear to my heart as the museum embodies all that’s special about this community.”
Patel and his wife Kalpana were in the news when they donated a million dollars to the University of Michigan. That story can be read here:
The Patels last month threw one of the lavish and expensive weddings the state has ever witnessed, in a deeply traditional three-day Indian wedding ceremony given for their only daughter, Avni, with her future husband, Abhishek Dhingra. Some 800 guests attended the wedding.
A native of Zambia, Africa, Patel earned his bachelor’s degree in pharmacy, from Gujarat University, followed by his master’s degree from the Philadelphia College of Pharmacy. In 1979, he earned his Ph.D. in pharmacy from the University of Michigan.
Patel has become known across the country for his business ventures. He is the co-founder of vSpring Capital, a Salt Lake City-based investment firm in which he is currently the founder emeritus (it is now known as Signal Peak Ventures that manages more than $450 million). He is also a primary angel investor in at least 20 IT and biotechnology companies, such as TheraTech (which he co-founded and which was acquired by Watson Pharmaceuticals (now Actavis) for $350 million), and Ashni Naturaceuticals, the latter of which Patel was formerly CEO.
Additionally, Patel holds 15 patents in both the US and abroad. In 2006, he was awarded Utah Technology Council Hall of Fame Award and the Ellis Island Medal of Honor. In 2009, he received the University of Michigan’s College of Pharmacy’s Alumni Distinguished Lifetime Achievement Award, and last year, he was awarded the Utah Life Science Award from BioUtah.