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University License Equity Holdings Inc.

Changes in ULEHI. UTC name changed to University License Equity Holdings Inc. (ULEHI) in May 2002 when CU Technology Transfer Office (TTO) assumed primary technology transfer dutiesPreviously mostly passive entity holding equityPresident position occupied by Jerry Donahue on a half-time basis since April 2002Jerry will become a special advisor to ULEHI and portfolio companies and remain on the ULEHI BoardEliminating president position and creating executive director position.

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University License Equity Holdings Inc.

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    1. University License Equity Holdings Inc. Jack Burns Vice President for Academic Affairs and Research & Chairman, University License Equity Holdings Inc. and David Allen Associate Vice President for Technology Transfer

    2. Changes in ULEHI UTC name changed to University License Equity Holdings Inc. (ULEHI) in May 2002 when CU Technology Transfer Office (TTO) assumed primary technology transfer duties Previously mostly passive entity holding equity President position occupied by Jerry Donahue on a half-time basis since April 2002 Jerry will become a special advisor to ULEHI and portfolio companies and remain on the ULEHI Board Eliminating president position and creating executive director position

    3. Changes in ULEHI, cont’d David Drake to become executive director of ULEHI, currently director of business development for TTO David will be full time and ULEHI will assume business development duties of TTO Business development pertains to start-up companies that license CU intellectual property, e.g. ULEHI stock ownership and assistance launching and growing the company Full time staff will perform “cradle to grave” services and ensure continuity with TTO Request Regent’s acknowledgement for Jerry Donahue’s service to University

    4. ULEHI Portfolio and Prospects Technology business environment is improving IPO market is opening up, window exists for biotechnology companies; two mentioned are commercializing CU inventions – Myogen and Eyetech Venture Capital and acquisition markets also improving ULEHI has equity in 15 companies, 10 are which are biotechnology Overall, the ULEHI equity portfolio is growing at a steady pace and prospects for appreciable economic return are very encouraging. Per University policy, equity returns will be distributed mainly to support research with allocations also to inventors and the University. The University share is primarily used to support the Technology Transfer Office.

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