Karen LeVert, CEO Southeast TechInventures (STI) Research Triangle Park, NC 919-941-6080 x100

1. University Technology Commercialization February 21, 2008 • Karen LeVert, CEO • Southeast TechInventures (STI) • Research Triangle Park, NC • 919-941-6080 x100 • klevert@setechinv.com • www.southeasttechinventures.com

2. Southeast TechInventures (STI) is a technology accelerator focused on developing and transitioning promising technologies from university labs to the commercial marketplace

3. “Discovery consists of seeing what everybody has seen, and thinking what nobody has thought.” - Dr. Albert Szent-Gyorgi

4. STI Process • Work in partnership with Technology Transfer Office to evaluate technologies for commercialization • Use SBIR Grants for prototype development funding • Establish master license agreement to streamline licensing of • intellectual property • Goal: Spin-off Company creation, CEO, Business Plan, Funding • STI receives an equity ownership stake in Spin-off company in return for services

5. Commercial Opportunity Assessment • Innovation is the process of converting new ideas or • inventions into new products and services that • improve efficiency, effectiveness or quality of life. Is • it: • A significant solution to a significant problem? • Technology Push vs. Market Pull? • Compelling Opportunity – Uniqueness, Sustainable Advantage, Market Need, Business Model, Fundability, etc.?

6. STI at 4 years old • 12 Spin-off Companies • Varying stages from prototype development to having raised B round of financing with 20 employees • Actively involved in commercialization efforts of 5 universities • Current Technology Focus: Biotechnology (medical devices, drug delivery, no pharma presently), Photonics, Nanotechnologies, Materials • Very well-connected with several SE Angel Investment groups and VC firms

7. Bioptigen Case Study • Dr. Joseph Izatt – Renown researcher in the field of Optical Coherence Tomography, recipient of multiple university NIH grants • Partnered with STI and secured 3 Phase I SBIR grants and 2 Phase II SBIR grants • Proof of concept is great! Incorporated Bioptigen. Eric Buckland (20+ years of commercializing advanced optical technologies) becomes CEO. • Activities: Patent protection, Market validation, Customer feedback, Market assessment • Raised A Round in 2005, Raising B Round now • Company will be cash flow positive this year – 18+ employees

8. Spectral DomainOptical Coherence Tomography(SDOCT) Addressing the Ophthalmic Diagnosis Gap October 2007

9. Ophthalmic Diagnosis Gap Costs of Eye Disease and Vision Care to US Economy $48B in direct and $18B in indirect costs 15M people suffer from Glaucoma, Macular Degeneration, and Diabetic Retinopathy 1.4M LASIK procedures are performed each year Diagnosis Gap Diagnosis is too complex and too late Macular Degeneration diagnosed post-symptomatic Glaucoma detected after damage to retina and nerve head Retinopathy often precedes other symptoms of diabetes New Diagnostics required to catch and manage disease from earliest stages 9 October 14 Confidential Confidential

10. From OCT to SDOCT PRL thinning SDOCT Large drusen Gen 2 SDOCT highlights specific pathologies SDOCT Generates its own Fundus Photograph Stratus OCT OCT requires separate Fundus photograph Gen 1 OCT shows vague signature of disease 10 October 14 Confidential Confidential

11. Products for the Clinic and Research Clinical Ophthalmic Scanner Adolescent and adult patients Hand Held Probe SDOCT Microscope Ex-Vivo tissue samples, small animal models Pediatrics, immobile patients, and animal models 11 October 14 Confidential Confidential

12. Thank You