Management, Board & Advisors

• A. J. Kazimi is Chief Executive Officer of CET. He is also Chief Executive Officer of Cumberland Pharmaceuticals Inc., a specialty pharmaceutical company which he founded in 1999. Prior to this, he spent ten years helping to guide and build Therapeutic Antibodies Inc., a biopharmaceutical company, where as President and COO he made key contributions to the company's growth through its IPO and initial product launches. Mr. Kazimi oversaw operations in three countries, closing more than $30 million in product agreements and steering the company through over $100 million in debt and equity financings. Mr. Kazimi serves the industry through positions on the Board of Directors for Aegis Sciences Corporation, a federally certified forensic toxicology laboratory; the Tennessee Biotechnology Association; and Aetos Technologies Inc., a technology development company associated with Auburn University.
• James P. Leyda, Ph.D. is the Director of Corporate Development for CET. Prior to joining CET, Dr. Leyda was President & CEO of Emerging Concepts, Inc., a company focused on commercializing technology from the Cincinnati and Ohio Valley region. There he oversaw technology development operations and funding initiatives that resulted in several million dollars in grant awards, primarily through state and federal small business programs. He also spent many years in leadership positions at what became Hoechst Marion Roussel (now Aventis), with responsibilities ranging from commercial and new product development to strategic research alliances. Dr. Leyda sits on the advisory boards for several start-up companies and foundations.
• Joseph O. Rolwing is Director of the CET Life Sciences Center. He has 30 years experience in the healthcare industry. Prior to joining CET, Mr. Rolwing was Vice President/Business Manager for Genetics Associates, Inc., a $3.2 million diagnostic medical lab. He also served as Vice President of Corporate Affairs for Centerstone Community Mental Health Centers, Inc., where he was responsible for managed care contracts, budgeting, risk management, billing and accounts receivable. Prior to that, Mr. Rolwing was Special Projects Director and Finance Director for the Helen Ross McNabb Center in Knoxville, Tennessee.
• Leo Pavliv, R.Ph., Vice President of Operations, brings twenty years of experience developing pharmaceutical and biological products to CET. Beginning his career with Parke-Davis, he has worked with both large pharmaceutical companies and small development and biotechnology companies in various scientific and management positions. Most recently, he served as Vice President of Pharmaceutical Development at Cato Research, a full-service contract research and development organization. He has authored and reviewed numerous regulatory submissions to the FDA and foreign regulatory agencies, as well as several articles, a book chapter, and presentations on a variety of chemistry, manufacturing, and controls topics at industry meetings.
• Elizabeth C. Gerken is Director of Business Development for CET. She is involved in the identification of prospective tenants for the Life Sciences Center, as well as the process of due diligence and the negotiation of deal terms for CET partners and tenants. Ms. Gerken brings significant industry expertise to CET after an eight-year career with Eli Lilly and Company that included management roles in Strategic Planning, Brand Management, Sales Management, and Business Development.
• David L. Lowrance serves as Vice President of Finance and Accounting for CET. His responsibilities include coordinating all accounting, forecasting and financial activities. Mr. Lowrance has fifteen years of accounting and financial experience in both international business and manufacturing. Previously, he spent eight years in the manufacturing sector with two global conglomerates, including four years as Senior Vice President for Icore International, a division of Smiths Group, PLC. He also worked as a Senior Accountant for Ernst & Young, LLP. Mr. Lowrance is a Certified Public Accountant.
• Amy Dix Rock, Ph.D. serves as Senior Manager, Regulatory Affairs for CET. She provides regulatory expertise in the areas of FDA submissions, product filings, clinical trials and post-approval regulatory activities. Dr. Rock's research has been published in multiple peer-reviewed journals such as The Journal of Immunology, The Journal of Neurosurgery and Experimental Cell Research.
• Michelle Mays manages administrative activities for CET, including fiscal affairs, human resources, and administration of the office. She participates in policy development and implements operating policies, procedures, and standards. Ms. Mays acts as the principal operational liaison for CET, and assists with the preparation and submission of grant applications. Ms. Mays brings 18 years administrative experience in the healthcare industry, including positions with Baptist Hospital, Corning Besselaar (Covance), Therapeutic Antibodies Inc. (Protherics), and Cumberland Pharmaceuticals Inc.

(Members represent the three entities comprising the company)

Named by Cumberland Pharmaceuticals Inc.:

• A. J. Kazimi (see Management section)
• James P. Leyda, Ph.D. (see Management section)
• Robert G. Edwards, M.D. serves as Chairman of the Scientific Advisory Board for CET. He sits on Cumberland Pharmaceuticals' Board of Directors and coordinates International Business Development activities. Previously he served as Chairman and Managing Director of Therapeutic Antibodies Inc.'s Australasian subsidiary, where he oversaw operations in Australia, New Zealand and Southeast Asia. Dr. Edwards' distinguished career also includes having served as Deputy Director of the Institute for Medical & Veterinary Science in South Australia, President of the Royal College of Pathologists of Australasia, and member of the Australian National Health & Medical Research Council.
• Thomas R. Lawrence is currently Chairman of Aetos Technologies Inc., a corporation formed in 2003 by Auburn University to market technological breakthroughs by its faculty. He also serves as Director of Cumberland Pharmaceuticals. Previously, Mr. Lawrence co-founded Delta Capital Partners, LLC in Memphis, TN, and was Managing Partner from 1989 to 1998. The partnership made investments in ten early-stage companies which, by the time Mr. Lawrence retired in 1998, were valued at more than $30 million. Prior to the formation of Delta, Mr. Lawrence founded several companies in the areas of commercial leasing and venture capital financing. As Institutional Sales Representative and Commercial Leasing Specialist with the Investment Banking Group of Union Planters Bank, he was responsible for structure and sale of over $1 billion in securities.

Named by Vanderbilt University:

• Christopher D. McKinney, Ph.D. currently serves as the Director of the Office of Technology Transfer and Enterprise Development at Vanderbilt University where his duties include identifying, protecting, marketing, and licensing promising new technologies as well as developing sponsored R&D and materials transfer relationships. He is also responsible for the new venture development and business incubation efforts at Vanderbilt. Dr. McKinney has had more than twelve years of experience in the technology transfer business with positions both in university and federal lab environments, and presently teaches in Vanderbilt's Management of Technology program. An active international speaker, Dr. McKinney is the 2002-2004 Vice President for Professional Development in the Association of University Technology Managers, an international organization with 3,000 members worldwide.
• Kenneth J. Holroyd, M.D. is Assistant Vice Chancellor for Research at Vanderbilt University Medical Center, as well as associate professor of Anesthesiology and Medicine. Prior to joining Vanderbilt, Dr. Holroyd served as director of Technology Transfer and Corporate Relations for the Department of Anesthesiology at the University of Pennsylvania. He also served as chief operating officer of Genaera Corp. (formerly Magainin Pharmaceuticals), where he helped shepherd the development of several compounds and products. Throughout his career, Dr. Holroyd has contributed to more than 40 peer-reviewed scientific publications.

Named by the Tennessee Technology Development Corporation:

• Dan J. Marcum, Chairman of the Tennessee Technology Development Corporation, is also the founder and managing partner of Marcum Capital, a private merchant banking firm specializing in raising equity capital for emerging high-tech companies. Prior to establishing Marcum Capital, he headed Micro Craft, Inc., a Tennessee-based aerospace firm which he helped to grow into an industry leader in aerodynamic, propulsion and space flight research and development. Mr. Marcum serves on the National Advisory Board for the Manufacturing Extension Partnership, an organization formed by the U.S. Department of Commerce to advance small and medium sized manufacturers, and is former chairman of the University of Tennessee Center for Industrial Services Advisory Council as well as their Space Institute Support Council.

• Martin S. Brown, Jr., J.D. is an attorney with the firm of Stokes and Bartholomew, P.A., general counsel to both CET and Cumberland Pharmaceuticals. His areas of practice include mergers and acquisitions, corporate law, the protection and licensing of intellectual property, and new business formation. Mr. Brown served as a judicial clerk for the U.S. 6th Circuit Court of Appeals in the early '90s. Prior to that, he worked as a credit analyst at New York's Chemical Bank. He has also been associated with venture capital interests in Nashville and Mexico City.
• Jeff M. S. Kaplan, J.D. is Associate Vice Chancellor for Health Affairs at Vanderbilt University Medical Center. Prior to joining Vanderbilt, Mr. Kaplan served as Executive Vice President for the Saint Thomas Health Services system in Nashville, which he joined during the transition after he led negotiations leading to the $355 million acquisition of the Baptist Hospital system by Saint Thomas and its parent company, Ascension Health. In addition to holding senior leadership positions at several other hospitals, Mr. Kaplan spent thirteen years in higher education, working at The Ohio State University and the University of Vermont.
• Matthew S. Gallivan is President of the Nashville Health Care Council in Tennessee. Under his leadership the Council has implemented a number of new educational, communications and economic development initiatives to foster the continued growth of Nashville's health care industry - the membership base has more than tripled to over 110 health care companies and industry support firms. Prior to this, he was Associate Vice President for Europe and the Americas at the Health Industry Manufacturers Association, now known as Advamed. Mr. Gallivan served for four years as Director of Trade Finance in the Office of the U.S. Trade Representative in the Executive Office of the President. He has authored numerous studies and articles on prospects for health care services and medical technology in global markets, and has served on the boards of the Tennessee Biotechnology Association and the Nashville Technology Council.
• Bill G. Eads is the Senior Licensing Associate of the Office of Technology Transfer for Vanderbilt University where he works with inventors in engineering and physical sciences disciplines to develop and implement commercialization strategies for promising technologies. Prior to this, he was the Science and Technology Advisor to the University's Department of Economic and Community Development. Before joining Vanderbilt, Mr. Eads was Director of the Instrumentation and Controls Division at Oak Ridge National Laboratory as well as Development Engineer.
• Eric Cromwell is Director of the Technology Development Division for the Tennessee Department of Economic and Community Development. In this role, he is responsible for developing and advancing policies and initiatives that will support economic expansion created by the development and adoption of technology throughout Tennessee. He is the point of contact for technological innovation, research and development and technology business growth across Tennessee. Previously, Mr. Cromwell led business development efforts to establish and launch the FedEx Institute of Technology, and was founding director of EmergeMemphis, the first business incubation program launched by Memphis Incubator Systems, Inc.

• Robert G. Edwards, M.D. (see Board of Directors section)
• John A. Oates, M.D. is the Thomas F. Frist Sr. Professor of Medicine at Vanderbilt University Medical Center, where he has served in numerous capacities since 1963. With concentrations in internal medicine, cardiology and pharmacology, he has a distinguished background in pharmaceutical research. He has been Director of Vanderbilt's Research Center for Clinical Pharmacology and Drug Toxicology since 1967. Dr. Oates served as Chairman of the Department of Medicine for nearly fifteen years, and as Director of the Division of Clinical Pharmacology for twenty-five years. He has authored numerous publications and has been the recipient of many awards and scientific recognition throughout his career.
• Michael R. Waterman, Ph.D. is the Natalie Overall Warren Chair in Biochemistry of the Biochemistry Department at the Vanderbilt University School of Medicine. He has been Professor and Chairman of the department since 1992. Prior to joining Vanderbilt, Dr. Waterman spent many years at the University of Texas Southwestern Medical Center in Dallas where he was Professor of Biochemistry as well as of Obstetrics and Gynecology. The author of numerous publications and recipient of recognition and awards throughout his career, Dr. Waterman an international leader in his field.
• John A. Smith, M.D., Ph.D. is Professor of Pathology and Director of the Division of Laboratory Medicine in the Department of Pathology at UAB, as well as Clinical Professor in the School of Health Related Professions there. As both physician and professor, Dr. Smith's broad-based clinical, research, and public service contributions are far-reaching. He is the author of numerous publications and has, throughout his career, received recognition on both medical and academic fronts.
• Stephan W. Morris, M.D. is Full Member of the Departments of Pathology and Hematology-Oncology at St. Jude Children's Research Hospital in Memphis, Tennessee. Prior to this, he was Associate Professor of the Department of Pediatrics at the University of Tennessee, College of Medicine in Memphis. Author of numerous publications and an international speaker, Dr. Morris is a leader in his field.

Cumberland Emerging Technologies, Inc.
2525 West End Avenue, Suite 950
Nashville, TN 37203
Tel: 615-255-0068   Fax: 615-255-0094
Web:  www.cet-fund.com  Email:  info@cet-fund.com