Richard Parker

Life
A biochemist who created the black suit alongside Eddie Brock's father. It was designed as a cure for cancer, by using its own self replication abilities to super charge the body's immune system. Seeking new funding, they were brought on board to a large chemical corporation.

Death
Unfortunately, the corporation realized the weaponization potential of the suit and claimed ownership of it. When Richard, his wife, and Eddie's parents took a flight to the legal preceding, their plane went down under mysterious circumstances, killing everyone on board. Peter was left an orphan to be raised by his uncle and aunt, Eddie to be raised by his grandfather. Eddie's father had kept a separate sample of the suit, however, and it was passed down to Eddie, and it was mostly forgotten outside of Dr. Connors working on it with Eddie when he got to college, which of course led to all sorts of bad things, like the Lizard, Venom, Carnage, the clones, etc. So Richard's scientific legacy is not a happy one, but his family legacy was in Peter.

Design
"So, also like Ultimate Richard, he is sort of designed to look like 616 Peter Parker, though maybe a little older.  I kinda wanted him to look like the ultimate figure for Peter to look up to and strive to be." - GM

Trivia

 * The chemical corporation who claimed ownership had long since gone out of business by the time Peter became Spider-man and is of no real importance going forward.