BOARD OF DIRECTORS

Peter L. Coker
John C. Draper
Fred D. Hutchison
William J. (Terry) Kane, M.D.
Robert K. McMahan, Ph.D.
Kenneth R. Tindall, Ph.D.

Chairman of the Board of Directors

Fred D. Hutchison, Chairman

Fred Hutchison is an attorney and a founding partner of Hutchison Law Group PLLC in Raleigh, North Carolina. His practice is focused on venture capital, securities and mergers and acquisitions.

Prior to founding Hutchison Law Group in 1996, Fred was a partner at Petree Stockton & Robinson (now Kilpatrick Stockton) and Moore & Van Allen. He spent five years practicing in the municipal finance, securities and bank regulatory areas with Covington & Burling in Washington, D.C.

Fred was the founding President of the Council for Entrepreneurial Development. He also served as Chairman of the Greater Raleigh Chamber of Commerce, Chairman of the Business Innovation Technology Advancement Center, founding Chairman of The Sports Council in Raleigh. Most recently he has served as Chairman of the Triangle Community Foundation and Co-Chairman of the Entrepreneurial Advisory Committee for the Catalyst Project, whose goal is to increase the level of permanent philanthropic giving within the community.

Fred has served as a general partner in Research Triangle Ventures, a $10.3 million early stage venture capital fund focused on companies in the Research Triangle Park region of North Carolina.

Fred is a current member of the Congress of Fellows of the Center for International Legal Studies. Additionally, he serves as a member of the Board of Directors of NC IDEA and the North Carolina Sustainable Energy Association.

Fred has been recognized as one of the Best Lawyers in America and is regularly recognized by Business North Carolina as one of the best corporate lawyers in the State. Electronic Business magazine recognized him as one of the top 10 technology lawyers in the country in 1990. In 2006, Fred was the recipient of the Order of the Long Leaf Pine, the highest civilian honor given by the State of North Carolina. This award is presented to individuals who have a proven record of extraordinary service to the state.

Fred earned his B.S. degree in Business Administration at the University of North Carolina at Chapel Hill. He received his law degree from the University of Virginia.

www.hutchlaw.com

Members of the Board of Directors

Peter L. Coker

Peter L. Coker is a Partner at Tryon Capital Ventures, a boutique merchant banking firm located in Research Triangle Park, NC. Unlike the typical relationships of more conservative financial institutions, merchant banking relationships are much more interactive. In addition to understanding all facets of financing, a merchant banker also brings an understanding of the clients' product, industry, and operations management.

The foundation of Tryon Capital Ventures is the strength and diversity of its partners. Around each partner is a vast network that spans the state of North Carolina, has deep roots in Wall Street, and extends as far as the Silicon Valley in California. Tryon Capital Ventures re-energizes and stimulates struggling early-stage and middle-market companies by combining analyses, strategy, people and money.

Individually, Peter has over 35 years experience in investment management, financial transactions, and executive management. He has held senior positions at several financial services companies including investment banks and asset management firms on Wall Street.

Prior to his current position, Peter was Managing Director of Capital Investment Partners, an investment banking firm in Raleigh, NC. Earlier in his career, Peter was Founder and Managing Director of American Asset Management Company, a registered investment advisory firm in New York City. Peter was also the Founder of Etrials Worldwide, Inc.

Peter currently serves on the Board of Directors of the North Carolina State University Investment Fund. He serves on the Board of Directors of Design Source, Inc. and was also a founder of Design Source.

Peter received his B.S. and Masters Degree in Economics from North Carolina State University.

www.tryoncapital.com

John C. Draper

John Draper is the President and CEO of the North Carolina Technological Development Authority, Inc. (TDA) and Director of the First Flight Venture Center incubator in Research Triangle Park. He is responsible for the overall management and the day-to-day operations of the TDA and the incubator.

Previously, John was the Chief Financial Officer and Director of Operations for the North Carolina Technological Development Authority.

Mr. Draper is a seasoned executive and attorney with 25 years of experience as an entrepreneur and private equity investor. He has an exceptional record of translating market opportunities into profitable enterprises that significantly increase equity value for investors.

Mr. Draper's prior experience includes working as a venture capital consultant for Kestrel Venture Management (a private equity investment firm that was a successor to Corning Venture Management). While consulting for Kestrel, he developed a business plan and restructured a trouble company in Kestrel's portfolio. Mr. Draper also founded Runtal North America, Inc. a startup company supplying cosmetically attractive architecturally engineered radiators to the construction industry. As CEO and President, over an eight-year period, he installed financial controls and database systems, raised three rounds of financing and negotiated the sale of the business, bringing a significant return to Runtal's investors. While working at the Division of Sponsored Research at the Massachusetts Institute of Technology, Mr. Draper reviewed technology for patentable innovations.

Mr. Draper received a JD from the University of Cincinnati and a BA from Ohio Wesleyan University.

William J. (Terry) Kane, M.D.

Dr. William (Terry) J. Kane is the Chief Executive Officer of RadarFind, an information technology company focused on the healthcare industry, offering a unique patent-pending Real Time Location System (RTLS) that users a platform technology for tracking medical equipment and patients.

Dr. Kane has more than 30 years of healthcare experience. Prior to his current position, Dr. Kane was President and CEO of InteCardia, a venture backed cardiology imaging company based in Chapel Hill, NC (later sold to Syncor International, Woodland Hills, CA). Prior to InteCardia, Dr. Kane was Executive Vice President and COO of Sharp Healthcare, a six hospital system in San Diego, CA.

Dr. Kane has extensive experience in managed care, having been a senior executive with US Healthcare, CIGNA and Independence Blue Cross (Philadelphia). He spent two years directing the consulting activity of an investment banking firm and was a frequent speaker and advisor to healthcare organizations.

Dr. Kane holds an academic appointment in the Department of Community and Family Medicine at Duke University Medical Center where he was Chief of the Division of Family Medicine for six years.

Dr. Kane received his B.S. in Biology at the University of Scranton (PA) and his M.D. from Temple University in Philadelphia. He completed his residency in Family Medicine at the University of Rochester (NY).

www.radarfind.com

Robert K. McMahan, Jr., Ph.D.

Dr. McMahan is currently the Founding Dean of the Kimmel School and Professor of Engineering at Western Carolina University; the Kimmel School is Western's College of Engineering and Technology. As one of the few universities in the nation to formally adopt the Boyer Model of Scholarship, Western Carolina is positioned to be a leader in the broadening of traditional criteria for tenure, promotion, and merit to promote faculty activity related to engagement and economic development in addition to nurturing its traditional activities in Teaching and Research.

Prior to this, Dr. McMahan was the Senior Advisor to the Governor of North Carolina for Science and Technology, and the Executive Director of the North Carolina Board of Science and Technology, which is the administrative Office of Science and Technology for the State. Created in 1963 (the first such organization in the US), the Board has been responsible for the creation of a number of internationally recognized initiatives to catalyze the transformation of the North Carolina economy by leveraging university research, science, entrepreneurship, and technology-based economic development. In this role he also acted as a Senior Advisor to the Secretary of Commerce, the General Assembly, and the Economic Development Board about science and technology matters and supports and advises state government on science, technology, university research capacity and structure, entrepreneurship and technology-based economic development. He served as a primary liaison to the University of North Carolina System and constituent institutions, the SBTDC, the NC Community College System, private colleges and universities, key agencies such as the NC Biotechnology Center, and associations such as the Council for Entrepreneurial Development (CED), NCTA and NCBIO with regard to these issues. He was responsible for developing and justifying legislation related to defining statewide research capacity and structure, as well as for implementing science and technology related economic development policy and resource allocations.

Prior to his work with the Governor, he was a Senior Technology Strategist and Venture Capitalist for In-Q-Tel, a private venture capital organization funded by the CIA, where he was responsible for developing a technology investment strategy for the intelligence community, and then deriving, molding, and structuring individual investments and technologies within the portfolio in response to it. Before joining In-Q-Tel, he was Executive Vice President of Engineering and R&D for GretagMacbeth, LLC, where he was responsible for the company's worldwide research, engineering, and product development activities and for the creation and operation of the company's Advanced Technology Laboratories in the Research Triangle Park. He joined GretagMacbeth after its acquisition in 2000 of McMahan Research Laboratories, the advanced technologies company which he founded in Cambridge, MA and later expanded to the Research Triangle Park of North Carolina in 1989. Dr. McMahan has been involved in the creation of a number of technology startups, and he has co-led equity and LBO capital raises in excess of $50MM. He is the recipient of Phase I and Phase II DOD and NASA SBIR as well as NSF and PPARC sponsored research grants.

Dr. McMahan also currently holds the position of Research Professor of Physics and Astronomy at the University of North Carolina at Chapel Hill. He has been a member of the UNC faculty since 1989. He is also Adjunct Professor of Technology and Management at the North Carolina State University College of Textiles. Dr. McMahan received Bachelors Degrees in Physics and in the History of Art from Duke University in 1982, a Ph.D. degree in Physics from Dartmouth in 1986, and completed postdoctoral studies at the Harvard University / Smithsonian Astrophysical Observatory Center for Astrophysics.

Dr. McMahan has extensive national and international speaking, consulting, and management experience in organizations and initiatives related to technology and product development, research policy, investment capital, entrepreneurship and innovation-based economic development. He frequently speaks and consults with national and international organizations interested in innovation policy, investment capital, technology based economic development, university research, and the university's role in economic development at the invitation of organizations including the National Academies and the Federal Reserve as well as the governments of Canada, France, Japan, Norway, and Korea.

Dr. McMahan participated in research that led to the cosmological discoveries of the “Great Attractor,” as well as the “bubble and void” structure of the universe and the “Great Wall,” the latter of which at the time of discovery was the largest known structure in the universe. These are now foundational elements of modern dark matter theory. He has published over forty papers in scientific and engineering journals, sits on a number of corporate boards and state commissions, and holds multiple domestic and international patents.

Kenneth R. Tindall, Ph.D.

(biography available here)

www.ncbiotech.org