Corporate Governance

Board Committees

Compensation Committee

The compensation committee of the board of directors reviews and makes recommendations to the board regarding all forms of compensation provided to our executive officers and directors, including stock compensation and loans. In addition, the compensation committee reviews and makes recommendations on bonus and stock compensation arrangements for all of our employees. As part of these responsibilities, the compensation committee also administers our Incentive Compensation Plan. The current members of the compensation committee are Drs. Rosalie Sagraves and Israel Rubinstein, each of whom is an independent director.

Audit Committee

The audit committee of the board of directors reviews and monitors our corporate financial reporting and our external audits, the results and scope of the annual audit and other services provided by our independent auditors and our compliance with legal matters that have a significant impact on our financial reports. The audit committee also consults with management and our independent auditors before the presentation of financial statements to shareholders and, as appropriate, initiates inquiries into aspects of our financial affairs. In addition, the audit committee has the responsibility to consider and recommend the appointment of, and to review fee arrangements with, our independent auditors. The current members of the audit committee are Drs. Israel Rubinstein, Terry W. Osborn, and Mr. Thomas V. Thornton, each of whom is an independent director.

Nominating and Corporate Governance Committee

Our nominating and corporate governance committee intends to develop and recommend to the board of directors a set of corporate governance principles and procedures applicable to us, identify individuals qualified to become board members, determine the director nominees for each annual meeting of our stockholders and ensure that the audit, compensation and nominating and corporate governance committees of the board of directors shall have the benefit of qualified and experienced independent directors. The current members of our nominating and corporate governance committee are Drs. Terry W. Osborn, Rosalie Sagraves and Mr. Thomas V. Thornton.


Corporate Development Opportunities

For additional information on product licensing, please contact:

Suseelan Pookote, Ph.D.
Executive Vice President of Corporate Development
630-739-6754 (fax)