Karen LeVert, CEO Southeast TechInventures (STI) Research Triangle Park, NC x100 University Technology Commercialization February 21, 2008

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

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

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 STI Process

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.? Commercial Opportunity Assessment

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 STI at 4 years old

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 Bioptigen Case Study

Spectral Domain Optical Coherence Tomography (SDOCT) Addressing the Ophthalmic Diagnosis Gap October 2007

Confidential July 15 9 Confidential 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

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

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

Thank You