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Mr. Palmin founded Novelos. He has over 40 years of business experience in Russia and the United States. Since 1989, Mr. Palmin has been a Partner of Kent International Ltd. and RAMEC Invest, venture capital and business development companies that make investments in Russian Federation companies, including PharmaBAM, Ltd. From 1984 to 1998, Mr. Palmin was Vice President Strategic Planning and Vice President New Product Development of Design Components Inc., a factory automation company. Mr. Palmin received a Bachelor of Science degree in Naval Instrumentation from St. Petersburg Navy Institute, St. Petersburg, Russia and a Master of Aviation degree in Aviation Instrumentation from the Institute of Aviation Instrumentation, St. Petersburg, Russia. He completed the studies for a Ph.D. in Electrical Engineering. Mr. Palmin has been granted 11 Russian patents and four U.S. patents in automation, and has numerous publications in the field. Mr. Palmin is fluent in Russian and English. | 