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Philip L. Smith, Ph.D. has served on our board of directors since August 2004 and is chairman of our Compensation Committee. Dr. Smith is a general partner at SR One, a venture capital fund that is wholly owned by GlaxoSmithKline, which he joined in June, 2002 and has been a general partner since January 2003. From 1985 to June 2002, Dr. Smith held positions of increasing responsibility in the Pharmaceutical Development Group at SmithKline Beecham/GlaxoSmithKline, ultimately heading up a transnational group responsible for identifying and recommending internal development of drug delivery technologies for product development. From 1981 to 1985, Dr. Smith was an assistant professor at the University of Kansas Medical Center. Dr. Smith serves on the board of directors of OctoPlus, a drug delivery company, and RedPoint Bio, a biotechnology company, as well as several private companies. Dr. Smith received a masterīs degree and doctorate in medicinal chemistry/pharmacology from Northeastern University and a bachelorīs degree in chemistry from the University of Maine. | 