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Squib was originally from Pontiac, Illinois. He attended Harvard and came away with a doctorate in biochemistry, which he used to create new drugs. He eventually held patents on over 100 new drugs, mostly used to treat schizophrenia. With this great success, he felt confident enough to quit when he met John Terrel, a millionaire who survived the dotcom bust.
The two founded and became the head partners of Terrel and Squib, but their confidence quickly became limited when they found out how hard it was to break into the pharmeceutical industry as a new entry. During this time, a Reaper by the name of Malevoy used Squib's self-doubt to possess the scientist. He destroyed Squib's soul and went about dominating the company by terrorizing Terrel into silence and taking control of the major projects. Those who noticed a change to his personality thought that success had changed him into a control-freak, not that something was possessing him. Such a notion was, at the time, ridiculous.
One of those projects was a new drug that the Spectre had started working on when possessing Dr. Amours Katlilian, a now-deceased Orpheus Group employee who had been working on a compound to allow the living to eject their souls from their bodies. With Squib's knowledge added to its own, it did not take long to develop pigment.
Squib remains in charge of the company until Terrel and Squib's eventual demise.