Management and Directors

The management team has over 40 years of combined business experience in the biotech and manufacturing industry. Its board of directors has a diverse background ranging from medical practice to venture capital.

COMPANY MANAGEMENT

C. Randal Mills, Ph.D., President and Chief Executive Officer, joined Osiris in July 2004. Dr. Mills is also a member of the Board of Directors. Prior to joining Osiris, Dr. Mills was an executive officer of Regeneration Technologies, Inc. (NASDAQ—RTIX). Dr. Mills served in several leadership positions at RTI from its formation in 1998 until 2004, including Vice President of Business Development and Vice President of Operations and R&D and is credited with several key initiatives including the development and commercialization of RTI’s core technology, BioCleanse®. Prior to RTI, Dr. Mills was a member of the founding management team of the University of Florida Tissue Bank, Inc. The University of Florida Tissue Bank was the predecessor company to RTI. Dr. Mills received a Bachelors degree in microbiology and cell science and a Ph.D. in drug development, both from the University of Florida.

Harry E. Carmitchel, Chief Operating Officer, joined Osiris in September 2004. Mr. Carmitchel has over 20 years of general management and operations experience in the medical field. Prior to joining Osiris, Mr. Carmitchel was a Principal with the Pacific Consulting Group for four years, where he specialized in corporate turnarounds. Prior to this time, Mr. Carmitchel was a General Manager with McQuay International, running a $410 million group, and spent eight years as President of the Medical Division for Stryker Corporation. Previously, he also served as Vice President of Operations and Vice President of Marketing for Everest and Jennings, Inc. Mr. Carmitchel earned a Bachelors degree in electrical engineering from the General Motors Institute and an M.B.A. from the University of Southern California.

Richard W. Hunt, Chief Financial Officer, joined Osiris in July 2008. Mr. Hunt spent 18 years in progressive finance leadership positions with Baxter Healthcare/American Hospital Supply.  Following Baxter, Mr. Hunt was appointed Chief Financial Officer of Global Healthcare Exchange, an e-commerce venture formed by a group of leading healthcare companies including Johnson & Johnson, GE Medical Systems, Abbott, Medtronic, and Baxter.  Mr. Hunt then served as CFO of Neighborcare, a publicly traded pharmaceutical service provider, until its $1.7 billion acquisition in 2005.  Mr. Hunt also served as CFO of Healthextras, a $1.8 billion publicly traded pharmacy benefit management service provider. Mr. Hunt started his healthcare career with Searle Pharmaceuticals.   Mr. Hunt is a certified public accountant, (CPA) and holds a Bachelor of Science degree in accounting from Northern Illinois University and a Masters in Business Administration from Pepperdine University.

Philip R. Jacoby, Jr., Vice President of Finance and Corporate Secretary, joined Osiris in April 2005. Mr. Jacoby previously served as the Company’s Controller and Chief Accounting Officer. From 1999 to 2004, Mr. Jacoby served as Vice President and Corporate Controller for FTI Consulting, Inc., a global business financial and economic consulting firm. Mr. Jacoby began his career with Arthur Andersen & Co. and earned his undergraduate degree in business and public administration from the University of Maryland.

Lode Debrabandere, Ph.D., Vice President and General Manager, Inflammatory Diseases, joined Osiris in July 2006. Prior to joining Osiris, Dr. Debrabandere served for over four years with Bristol-Myers Squibb as Vice President of Strategic Marketing for Neuroscience and Infectious Diseases. He led the Neuroscience Unit and was the Global Brand Leader for Abilify™. Previously, Dr. Debrabandere led the Marketing department of UCB Pharma Inc., focusing in the areas of allergy/respiratory (Zyrtec™) and neurology (Keppra™). Dr. Debrabandere earned an M.B.A., a Ph.D. in pharmaceutical sciences, toxicology, and a Pharm. D. degree, all from the University of Leuven, Belgium.

Michelle LeRoux Williams, Ph.D., Vice President of Development, joined Osiris in October 2001. Previously at Osiris, Dr. Williams served as Director of Orthopedics. In that role Dr. Williams was responsible for the development of Osteocel® from initial concept through market launch. In 2005, Osteocel became the world’s first commercially available stem cell product. Additionally, Dr. Williams advanced the Chondrogen™ program from preclinical testing through human clinical evaluation. Prior to joining Osiris, Dr. Williams completed an NIH postdoctoral fellowship in tissue engineering at Columbia University, evaluating cellular constructs for the repair and regeneration of cartilage in arthritis patients. Dr. Williams earned a Bachelors degree in mechanical engineering from Rice University and a Ph.D. in biomedical engineering from Duke University.

Rodney L. Monroy, Ph.D., Senior Director, Prochymal™, joined Osiris in February 2003. Dr. Monroy has spent over 20 years in the area of cell therapy, stem cell research, and transplantation. Before joining Osiris, he was responsible for product development of the Eligix medical devices used in cell separation for stem cell transplantation and cellular therapy. He was a key contributor in the success of these devices receiving CE mark approval. Previously, Dr. Monroy was the Director of Cellular Immunology/Hematology at BioTransplant, Inc. where he was responsible for the development of products and assays to facilitate engraftment and tolerance induction for xenogeneic preclinical models and investigation of a therapeutic immunosuppressive monoclonal antibody. In addition, Dr. Monroy conducted research and led scientific teams at the Naval Medical Research Institute for 12 years in the area of transplantation and growth factor therapy using preclinical animal models. Dr. Monroy earned a Bachelors degree in zoology from Humboldt State University and a Ph.D. in Biochemistry from Case Western Reserve University.

BOARD OF DIRECTORS

Peter Friedli, Chairman, is a co-founder of Osiris and, except for the period between February and June 2004, has been a director since January 1996. He has been a principal of the investment-banking firm Friedli Corporate Finance, Inc. since 1986. Friedli Corporate Finance, Inc., a leading Swiss venture capital firm, has made significant investments in the biotechnology industry. Friedli Corporate Finance, Inc. has been the primary source of financing for Osiris. Mr. Friedli is also President of New Venturetec Ltd., a Swiss publicly traded investment company. Mr. Friedli has extensive experience as an independent investment manager in venture capital and has specialized in investments domiciled in the United States in the areas of biotechnology and technology. Prior thereto, he worked in the field of international management consulting for service and industrial companies in Europe and the United States. Mr. Friedli is a director of E-centives, Inc., a publicly traded provider of interactive database marketing technologies and services. He also serves as a director in certain private companies.

C. Randal Mills, Ph.D., President and Chief Executive Officer, joined Osiris in July 2004. Dr. Mills is also a member of the Board of Directors. Prior to joining Osiris, Dr. Mills was an executive officer of Regeneration Technologies, Inc. (NASDAQ—RTIX). Dr. Mills served in several leadership positions at RTI from its formation in 1998 until 2004, including Vice President of Business Development and Vice President of Operations and R&D and is credited with several key initiatives including the development and commercialization of RTI’s core technology, BioCleanse®. Prior to RTI, Dr. Mills was a member of the founding management team of the University of Florida Tissue Bank, Inc. The University of Florida Tissue Bank was the predecessor company to RTI. Dr. Mills received a Bachelors degree in microbiology and cell science and a Ph.D. in drug development, both from the University of Florida.

Felix Gutzwiller, M.D., Dr.P.H., elected to the Board of Directors in 2003, is Professor and Chairman of the Department of Public Health at the University of Zurich Medical School. Dr. Gutzwiller is also an elected member of the Swiss Parliament. Dr. Gutzwiller received a medical degree from the University of Basel in 1974 and did his post-graduate training at both Harvard University and Johns Hopkins University. He received his Dr.P.H. from the Johns Hopkins University School of Hygiene and Public Health in 1977. Dr. Gutzwiller has received many honors and awards over the years in the health profession.

Jay M. Moyes, elected to the Board of Directors in 2006, served as the Chief Financial Officer of Myriad Genetics, Inc. from June 1996 through October 2007. Mr. Moyes previously served as Myriad's Vice President of Finance from July 1993 until July 2005. From 1991 to 1993, Mr. Moyes served as Vice President of Finance and Chief Financial Officer of Genmark, Inc. Mr. Moyes held various positions with the accounting firm of KPMG LLP from 1979 through 1991. He holds an M.B.A. degree from the University of Utah, a B.A. degree in economics from Weber State University, and was formerly a Certified Public Accountant. Mr. Moyes is a current member of the Utah Association of Certified Public Accountants and has also served as a member of the Board of Trustees of the Utah Life Science Association from 1999 through 2006.

Gregory H. Barnhill, elected to the Board of Directors in 2006, has served as a Partner and Member of the Board of Directors of Brown Advisory Securities, LLC since 2003. Mr. Barnhill is also a member of numerous philanthropic and corporate boards. From 1975 to 2003, Mr. Barnhill held various positions with Deutsche Bank Securities, Inc., most recently as Managing Director and Regional Manager, North American Equity Sales. He holds a B.A. degree in economics from Brown University. Mr. Barnhill holds NYSE/NASD licenses series 7, 63, 9 and 10 as well as life, health and variable annuities insurance licenses.