1 Liberty Ventures Intl LLC The Road to

1 Liberty Ventures Int’l, LLC The ‘Road to’ Commercializing Early/Emerging Technologies Presented to Pillsbury, Winthrop, Shaw, Pittman June 20, 2008 Liberty Ventures Intl, LLC

2 Liberty Ventures Int’l, LLC The ‘Road To’ Commercialization § What Product? What stage? § Will it be commercially viable? § How long until ready? § Early, still in lab? § Prototype ready, now what? § What’s it REALLY worth? § Ready for commercialization? Wait a minute!!. . . What are the obstacles? § What is the market need/value? § What is the ‘addressable’ market? § Competition, IP and product positioning § (For bio-medical technology), what is the path to reimbursement? § (For bio-medical technology), what is the path to regulatory clearance? Liberty Ventures Intl, LLC § What is the sales cycle?

3 Liberty Ventures Int’l, LLC The ‘Road To’ Commercialization § Business strategy and a plan with defined, focused goals § Be able to get to revenue…and grow it from there… § De-risk your own plan – for you and your partner § Partner, acquire, outsource or build your own - if it makes sense § Organization structure and control – but not too much, keep moving, adjusting § Capital Needs § Where can you get grants to keep going? § Are you READY to go to for capital? FF&F? Angels? VC ‘A’ round? ‘B’ round? § What’s it worth? § Are you/are you not willing to give up partial or majority control? § Is it enough to get to the next milestone? § Metrics for Success § Define metrics so you know you are on track and/or re-assess § Project Plan mandate – don’t sell from an empty wagon… § Plan, Liberty Ventures Intl, LLC Plan, Assess, Assess and Execute, Execute

4 Liberty Ventures Int’l, LLC The ‘Road To’ Commercialization § Liberty Ventures Intl works with clients similar to clients you have § with common issues § Need advice and support to help them get to market § Customer, product and capital § Companies don’t just need capital, they needs to be deploy it with the right strategy in mind § Grow and then exit via merger, IPO – What is Plan B? What is really sustainable growth? Liberty Ventures Intl, LLC

5 Liberty Ventures Int’l, LLC The ‘Road To’ Commercialization § § Liberty reviews dozens of early technologies some good, some will never make it. Why? § Management, the Board and the mad scientist § Rate of adoption and § Rate of adaption… Thorough market assessment, risks and unmet needs § Quantify AND qualify Engaged with clients in both private and government sectors § Pivotal customers and external capital § Business development, JV partnering and licensing § Entrée to Do. D, NIH, NSF, NCI…. § Global perspective Capital market access and expertise § Deal by deal currently § Domestic, foreign, Shariah § Venture fund Liberty Ventures Intl, LLC

6 Liberty Ventures Int’l, LLC Thank you! Chuck Gleason, Jr +1. 202. 258. 2127 ca. gleason@libertyventuresintl. com Liberty Ventures Intl, LLC

7 Liberty Ventures Int’l, LLC Principals Liberty Ventures Intl, LLC

8 Mr. Charles A. Gleason, Jr, CEO and Managing Director Chuck Gleason is the founder of Liberty Ventures Intl, LLC. , a strategic advisory and private capital firm, emphasizing corporate growth, business and financial strategy and operational improvement for small to medium sized companies. Chuck has over 20 years of experience with Life Science and Healthcare organizations and focuses his work on strategic planning, operational improvement, and financial analyses. His clients have included Fortune 500 bio-pharma and industrial companies, mid-sized companies, and venture-backed startups. His emphasis is to assist clients in strategic planning, business development, startups and turnarounds, valuation and capital-raising with proven results. Chuck has previously been the CFO of a $300 MM turnaround. He holds a Bachelors of Science in Engineering from Virginia Polytechnic Institute and an MBA from the Fuqua School of Business, Duke University. Focus Areas Select Activities v. Board and Senior Management experience v. Comm’l and Gov’t Business Development v. Finance & Operations v. Licensing & Joint Ventures v. Capital Formation and Valuation v. CFO of a $300 MM, 18 month turnaround of healthcare company, resulting in pre-tax profitability swing of +11 MM v. Board and Executive leadership for private equity funded company. v. Lead team responsible for securing $40 MM, five year funding from US Govt, for breakthrough cell preservation therapy (pending) v. Retained by several emerging technology firms in nanotech and biotech to raise initial funding and licensing. v. Developed valuation of novel chemical product, resulting in $14 MM ‘A’ round venture funding v. Finance Chair, Virginia Legislature’s Joint Commission on Technology and Science, Nanotechnology Subcommittee; Participant, Congressional Nanotechnology Caucus v. Actively seeking licensing opportunities in Nanotechnology and Bio-nanotechnology through broad range of University and Federal research and development programs Liberty Ventures Intl, LLC

9 Ms. Lynne Kaye, Managing Director With over 20 years of Banking and Business Consulting experience, Lynne’s primary focus has been working on innovative approaches to meeting client challenges of enhancing profitability and growth via Strategy, Marketing and Business Performance. She has advised a large number of middle market firms and publicly traded companies on growth strategy and competitive advantage. Lynne graduated Magna Cum Laude and Phi Beta Kappa with a Bachelor of Science degree in Mathematical Economics and an MBA from Duke University’s Fuqua School of Business. Focus Areas Select Activities v. Executive Committee experience v. Strategic Planning v. Leadership Strategies & Executive Performance v. Marketing & Sales v. Mergers & Acquisitions v. Head of Equity and M&A Advisory business for Bank One Capital Markets, that grew to over $6 Bil in debt and equity transactions and $1 Bil in M&A transactions. v. Lead Assessment for an Executive Leadership Alignment project for middle market technology firm. The project focused on the strategy development, executive performance and equity distribution, resulting in 100% increase in sales and enhanced profitability. v. Led Project entailing Organizational Re-design for media company, involving evaluation design and implementation planning for new organizational structure, resulting in 3 x increase in market size. v. Develop strategy, competitive positioning, resource allocation that results in increasing performance alignment. Clear strategy development and management team implementation v. Experienced in industrial companies, consumer goods, IT, insurance and professional services industries. Liberty Ventures Intl, LLC

10 Mr. Sumner B. Miller, Managing Director As a senior member of Liberty Ventures Intl, Sumner is uniquely qualified in change management. He has initiated and implemented corporate turnaround and development efforts as both a Chief Executive and as an outside advisor. Sumner has initiated, negotiated and closed on a range of financings and M&A assignments valued in excess of $500 million, including over $40 million of acquisitions as principal. As a former senior operating and financial executive, he has successfully restructured troubled companies and lead strategic corporate development efforts. Sumner holds Masters degree in Business Administration from the Fuqua School of Business, Duke University and an BA in History from Denison University. Focus Areas Select Activities v Board & Senior Management experience v Corporate Development v Business Operations Restructuring v Corporate Finance v Mergers & Acquisitions v Conceived and led successful restructurings and recapitalizations of troubled organizations. Liberty Ventures Intl, LLC v As CEO, initiated and led realignment of Executive Leadership and development of new strategic mission and goals for senior services organization. . The project focused on the role, strategy, and organization v Initiated, negotiated and closed over $400 million in financings and $40 million of acquisitions. v Planned and executed business expansion and recovery plans for businesses including internal realignment and external refinancing strategy, effectively returning company to viability. v Experienced in healthcare companies, service and distribution companies

11 Mr. Nikhil Kumar, Summer Intern As the newest intern of Liberty Ventures Intl, Nikhil is extremely qualified in understanding both technology and finance. He has researched and assessed several emerging technologies since joining the firm for the summer. Nikhil has initiated industry studies in solar thin film technologies and valued public companies. As a former senior IT consultant, he has successfully and lead projects and managed business development efforts. Nikhil is earning his Masters degree in Business Administration from the Fuqua School of Business, Duke University and holds a BA in Electronic Engineering from Avadh University, Kamla Nehru Institute of Technology. Focus Areas Select Activities v Corporate Finance v Business Development v Technology Market Assessment v Corporate Finance v Mergers & Valuation v Conceived and led successful consulting projects for clients. Liberty Ventures Intl, LLC v As Team Leader, initiated and led multi-national and multi-function team and business outcome for services organization. The project focused on the business development, strategy, and effective organization. v Created financial valuation models and performed financial analyses for a variety of industries v Experienced in technology companies