Managing Member, IPD Capital

Steve is a former member of the executive management committee for Global Banking and Markets at Bank of America Merrill Lynch where he was Chief of Staff and led the Chief Operating Officer organization. Steve held key management positions in the Merrill Lynch organization including: Head of Americas Equity Sales (all products), Head of Americas Equity Research, and Head of Global Pharmaceutical Research (#1 ranked pharmaceutical research analyst according to Institutional Investor, Reuters & Greenwich Associates). Steve also worked on major cost reductions programs at Bank of America (project New BAC, $8 BB in savings) and Humana (Project Sparc) while at BofA and at Vici Capital Partners. Steve started his investment banking career at J.P. Morgan & Company where he worked on numerous corporate finance and M&A transactions.

Prior to going to Wall Street, Steve was a Member of the Technical Staff in the basic research division of AT&T Bell Laboratories in Murray Hill, NJ.

Steve holds an MBA from the Wharton Business School and B.S. and M.S. degrees in Chemical Engineering from UCSD.

Director of Research, IPD Capital

Malan is currently the Director of Research at IPD Analytics, which he joined in 2006. Prior to his career at IPD, Malan served as a law clerk for the Honorable Randall R. Rader of the United States Court of Appeals for the Federal Circuit. Before joining IPD Analytics, LLC, Malan worked as a senior associate in the law firm of Fish & Richardson P.C. in Washington, DC, where he specialized in patent litigation, especially before the International Trade Commission, and patent prosecution. In addition, Malan has engineering experience working for Compaq Computer Corporation and the Space Dynamics Laboratory.

Malan holds a J.D. degree from the University of Virginia School of Law, where he was an Executive Editor of the Journal of Law and Politics, and holds B.S. and M.S. degrees in Electrical Engineering from Utah State University.



Before joining IPDC, Alex was the Licensing and Commercialization Manager of the Gas Technology Institute (GTI), a contract research organization for the natural gas industry. At GTI, Alex worked on, negotiated and executed over 25 license agreements and worked to commercialize GTI Intellectual Property through spin-off and joint-venture companies. Prior to GTI, Alex co-founded Invention Bridge, LLC, a technology commercialization company. Invention Bridge managed a Department of Energy Entrepreneur-In-Residence Grant at Argonne National Laboratory and launched the Clean Energy Trust, a non-profit cleantech accelerator. Prior to business school, Alex was a Manager at Stax, Inc. where he led market due diligence and growth strategy engagements for private equity and venture capital clients. Alex started his career at Open Prairie Ventures (OPV), an early stage venture firm focusing on start-ups from Midwest Laboratories and Universities.

Alex holds an MBA from The University of Chicago Booth School of Business and B.S. & M.S. degrees in Mechanical Engineering from the University of Illinois at Urbana-Champaign. He is a member of The Association of Asian American Investment Managers.

Vice President, IPD Capital


Analyst, IPD Capital

Ben holds a BS in Finance with a Minor in Economics from the University of Miami where he was a Bermont Carlin Scholar as well as a Real Estate & Financial Sector Analyst for the University of Miami Student Managed Investment Fund. He previously interned at a Family Office as a Private Equity Analyst as well as with the Private Wealth Group at Raymond James. At IPDC, Ben conducts due diligence and financial analysis on investment opportunities as well as authors industry sector reports.


CEO, IPD Analytics & Managing Member, IPD Capital

Howard is the founder and CEO of IPD Analytics, LLC, a firm that provides syndicated solutions combining proprietary patent, scientific, regulatory, and market analysis along with well-researched data. These tools are used to forecast new product entry, loss of exclusivity, and other competitive factors impacting product positioning and life cycles within the healthcare and technology sectors. Since its inception in 2002, investment firms, pharmaceutical manufacturers, and members of the managed-care, hospital, and supply chain industries utilize IPD for product life cycle insights.

In 1993, Howard founded Intellectual Property Development, Inc. ("IPD") to acquire and commercialize patent rights. Howard practiced law with the firm of Nortman & Bloom in Miami from 1991‑1996. Howard's practice involved corporate law, IP licensing, and litigation.

Howard serves on the Board of Trustees for the Phillips Collection in Washington D.C. He is also an active participant in YPO/WPO (Young Presidents' Organization/World Presidents' Organization). Howard is a current member of the Florida Bar Association. He previously served as Chairman of the South Florida Board of Advisors for Network for Teaching Entrepreneurship (NFTE). Howard was also recognized as an EY Entrepreneur of the Year® 2020 Florida Award winner.


Howard holds a B.A. degree from The University of Texas at Austin and a J.D. degree from The University of Texas at Austin School of Law.


As an affiliated company, IPD Capital often relies on the team of PhD scientists, technical specialists, and patent attorneys (many with engineering backgrounds) at IPD Analytics to understand intellectual property positions of potential investments. With strong experience in patents, trademarks, copyrights, and trade secrets, the IPD Analytics team is utilized to assist in developing strategies that strengthen technology positions and business models once an investment has been made.