Frank H. Pearl, Chairman and Chief Executive Officer of Perseus, founded the firm in 1995 and founded Rappahannock Investment Company, the predecessor of Perseus in 1991. Mr. Pearl has been involved for over 25 years with investing in growth equity and buyout transactions in the United States, Canada, and Western Europe. In particular, Mr. Pearl has focused on investments in the following industries: healthcare and life sciences, energy, environmental, and engineering technologies, and publishing. Mr. Pearl practiced law in the District of Columbia and New York from 1969 until 1983. In 1983, Mr. Pearl joined Wesray Capital Corporation as a principal and managing director and in that capacity was involved in negotiating, structuring, and supervising numerous successful corporate acquisitions and divestitures. During this period, Mr. Pearl was a principal with substantial responsibility for over a dozen operating companies including Avis Rent-a-Car, Western Auto Supply, and Wilson Sporting Goods.

Mr. Pearl serves as chairman of the Jennie Zoline Foundation, a private foundation that he established in 1987 to be operated for scientific, literary, educational, and other purposes. Mr. Pearl has served as a member of the Board of Trustees of the John F. Kennedy Center for the Performing Arts and the Rockefeller University. Mr. Pearl is a member of the Board of Directors of the Peterson Institute for International Economics, a member of the National Advisory Council for the Trust for the National Mall, a member of the Council on Foreign Relations, and serves as Trustee Emeritus for the Brookings Institution. Mr. Pearl has served as a member of the Visiting Committee of the Freer Gallery of Art, the Board of Directors of the National Book Foundation, and the Board of Directors of the Alliance to Save Energy.

Mr. Pearl serves as a Board member of the following Perseus portfolio companies: NanoBio Corporation (Chairman), Perseus Books, L.L.C. (Chairman), Workflow Holdings, L.L.C., and VPG Holdings, L.L.C. (one of two members of the Executive Committee, the unanimous consent of which is required for all significant decisions).

James A. Johnson is a Vice Chairman of Perseus. Prior to joining Perseus in 2001, Mr. Johnson served as Vice Chairman (1990), Chairman and Chief Executive Officer (1991-1998), and Chairman of the Executive Committee (1999) of Fannie Mae. Prior to joining Fannie Mae, Mr. Johnson was a Managing Director in Corporate Finance at Lehman Brothers. Before joining Lehman Brothers, he was President of Public Strategies, a Washington, D.C.-based consulting firm he founded to advise corporations on strategic issues. From 1977 to 1981, Mr. Johnson was Executive Assistant to Vice President Walter F. Mondale, where he advised the Vice President on domestic and foreign policy and political matters. Earlier, he was employed by the Dayton Hudson Corporation, worked as a staff member in the U.S. Senate, and was on the faculty of Princeton University.

Mr. Johnson served as Chairman of The John F. Kennedy Center for the Performing Arts and is a former Chairman, Honorary Trustee of the Board of Trustees and Member of the Executive Committee of The Brookings Institution. Mr. Johnson also serves on the Boards of Directors of The Goldman Sachs Group, Inc., Target Corporation, and Forestar Real Estate Group. He is also a member of the Council on Foreign Relations and the Council of the National Museum of African American History. He also serves on the Visiting Committee of the Harvard Kennedy School.

Mr. Johnson holds a B.A. in Political Science from the University of Minnesota and a Master's in Public Policy from the Woodrow Wilson School at Princeton University. He has also received the following Honorary degrees: Honorary Doctor of Laws Degree from Colby College (1997); Honorary Doctor of Humane Letters Degree from Howard University (1999); Honorary Doctor of Laws Degree from Skidmore College (2002); Honorary Doctor of Humane Letters Degree from Augsburg College (2006); and an Honorary Doctor of Laws Degree from the University of Minnesota (2006).

Kenneth M. Socha, Senior Managing Director, joined Rappahannock Investment Company, the predecessor of Perseus, in 1991. Prior to joining Perseus, Mr. Socha practiced corporate and securities law as a partner of Dewey Ballantine in New York City. From 1985 to 1991, Mr. Socha devoted a substantial amount of his time to the representation of Wesray Capital Corporation and its affiliates. Mr. Socha serves on the Board of Directors of the following Perseus portfolio companies: Baumot AG, Cymbet Corporation, Lumexis Corporation, Pinacl Solutions UK Ltd., and Seismic Equipment Solutions II, L.P. Mr. Socha also serves on the Board of Directors of Clean Energy Fuels Corp., a former Perseus portfolio company. Mr. Socha was a contributing author of the first edition of The Art of M&A: A Merger Acquisition Buyout Guide, published by Dow Jones-Irwin.

Mr. Socha holds a B.A. in English Literature from the University of Notre Dame and a J.D. from Duke University School of Law.

John C. Fox is a Senior Managing Director and joined Perseus in 2000. Prior to joining Perseus, Mr. Fox was Chief Operating Officer of Ontario Power Generation Inc. (formerly Ontario Hydro), where he was responsible for generation, transmission, distribution, and retailing for one of the largest electric utilities in North America. He served as Executive Vice President of the Canyon Group, a Los Angeles-based marketing and management consultancy during 1992 and 1993. From 1981 to 1992, Mr. Fox held various management positions with Pacific Gas and Electric Company (PG&E) in San Francisco, California, including Manager, Energy Efficiency Services. He serves as a Board member for Entergate, Inc., a provider of residential demand response for utilities and home energy management solutions for their customers, Timminco Limited, a Canadian producer of solar grade silicon for the solar photovoltaic energy industry, and the Alliance to Save Energy, a nonprofit organization that promotes energy efficiency worldwide through research, education, and advocacy. During 1992, he served as the Head of the Energy Efficiency Task Force, President Bush’s Commission on Environmental Quality. Mr. Fox serves as Board member for the following Perseus portfolio companies: BPL Global Ltd., Cymbet Corporation, Puralube, Inc., and Soft Switching Technologies Corporation.

Mr. Fox holds a B.S. in Civil Engineering from the University of Toronto and an M.B.A. from McMaster University in Hamilton, Ontario.

Sheryl Schwartz is a Senior Managing Director of Perseus and works on mezzanine debt investments, private equity investments, and investor relations. Prior to joining Perseus in 2010, Ms. Schwartz was head of TIAA-CREF’s alternative investment team. She joined TIAA in 1988 and performed a variety of functions there, including three years investing in corporate private placements, two years trading secondary private placements, and four years investing in mortgage and asset-backed securities. Beginning in 1997, Ms. Schwartz was appointed to establish and develop TIAA’s alternative investment portfolio. During the following 13 years, Ms. Schwartz built a diversified portfolio of approximately $13 billion of commitments in alternative investments, including investments in buyouts, venture capital, distressed and turnaround, mezzanine debt, energy and infrastructure, and timber. As head of TIAA’s alternative investment team, Ms. Schwartz managed a team of 10 professionals and was responsible for all fund, direct private equity co-investment, and mezzanine debt opportunities sourced from TIAA’s relationships with fund managers. Ms. Schwartz has over 22 years of experience investing in fixed income and alternative investments. She serves on the Board of Directors of the Women’s Association of Venture and Equity, Inc. (WAVE), which is a nonprofit organization that is committed to the development and advancement of women in private equity and venture capital. She was also a long-time member of the Institutional Limited Partners Association (ILPA).

Ms. Schwartz holds both a B.S. and an M.B.A. in Finance from New York University.

Susan R. Inouye Tarter is the Chief Financial Officer of Perseus. Ms. Tarter served as the CFO of Perseus from late 1991 through June 1996 and later served as a consultant to Perseus’ finance team. Ms. Tarter rejoined Perseus in 2011. Prior to her association with Perseus, Ms. Tarter was the director and then vice president of operations for the Occupational Medical Center, an environmental consulting firm which was acquired by Princeton Laboratories. In that role, she reported to the President and founder and was responsible for oversight of services in industrial hygiene and occupational medicine as well as a microbial laboratory and the expansion of operations to multiple locations in Maryland and Pennsylvania.

Ms. Tarter holds an M.B.A. from the Wharton School at the University of Pennsylvania and a B.B.A. in management from Iowa State University. She is a certificate holder in the District of Columbia, having passed the CPA exam in 1991.

Norman C. Selby is a Senior Advisor of Perseus. Before joining Perseus in 2005, Mr. Selby was President and CEO of TransForm Pharmaceuticals, a specialty pharmaceutical company focused on innovation in the form and formulation of drug compounds that was acquired by Johnson & Johnson in April 2005. He was also an Executive Vice President at Citigroup/Citicorp from 1997-2008.

Mr. Selby spent the bulk of his career at McKinsey & Company where he was Director (Senior Partner) in the firm’s New York office. He held several leadership roles at McKinsey, including head of the firm’s Global Pharmaceuticals and Medical Products Practice. From 1987-1989, Mr. Selby took a leave of absence from McKinsey to serve as Chief Operating Officer of the New York Blood Center, the largest community blood organization in the country, where he led its financial and operational turnaround.

Mr. Selby is a member of the Board of Directors of the following Perseus portfolio companies: Ascenta Therapeutics, Inc. and Physicians Interactive Holdings, LLC. He is also on the Supervisory Board of Merz GmbH, a private specialty pharmaceutical company based in Germany. Mr Selby was on the Board of Millennium Pharmaceuticals (MLNM) from 2000-2008 and he was Chairman of Windhover Information, the leading B2B publishing and information company in the pharmaceutical, biotechnology, and medical device industries, from 2004 until it was sold to Reed Elsevier in 2008.

Mr. Selby serves on the Board of Trustees of the Central Park Conservancy, the Memorial Sloan-Kettering Cancer Center, and the Ralph Lauren Center for Cancer Care and Prevention, all based in New York City. He is also a member of the advisory board of the Harvard Business School's Healthcare Initiative and a Board member of the National Parks Conservation Association in Washington D.C.

Mr. Selby holds a B.A. in Architecture from Yale College and an M.B.A. with Distinction from the Harvard Graduate School of Business Administration.

Marc E. Lippman, M.D. has been a Senior Advisor to Perseus since 1995. Dr. Lippman serves as Chairman of the Department of Medicine at the University of Miami Leonard M. Miller School of Medicine. Prior to that, Dr. Lippman was the John G. Searle Professor and Chief of Medicine at the University of Michigan Health System. Before that appointment, Dr. Lippman held a number of positions at Georgetown University Medical Center, including Director of the Lombardi Cancer Research Center, Professor and Chairman of the Department of Oncology, Professor of Medicine, and Chief of the Division of Hematology-Oncology. He also served as Head of the Medical Breast Cancer Section of the Medicine Branch of the National Cancer Institute.

Dr. Lippman is the recipient of the Clinical Investigator Prize of the American Federation for Clinical Research, the Rosenthal Award of the American Association for Cancer Research, the American Cancer Society Lectureship Award given by the American Society for Clinical Oncology, the Astwood Prize of the Endocrine Society, and the Brinker International Prize for Basic Research in Breast Cancer. He is the author of more than 500 publications and one of the standard texts on breast cancer. He is a reviewer for several leading medical publications, including American Journal of Medicine, Cancer, Nature, New England Journal of Medicine, and Science. Dr. Lippman shares five patents related to his oncology research. He is on the Board of Directors of Ascenta Therapeutics, Inc., a Perseus portfolio company, and Seattle Genetics, Inc.

Dr. Lippman received his M.D. from Yale Medical School. He received a B.A. from Cornell University, magna cum laude.

John M. Glazer is a Managing Director of Perseus. Prior to joining Perseus in 2006, Mr. Glazer worked at CSFB Private Equity, the direct private equity investment division of Credit Suisse First Boston (“CSFB”). While at CSFB Private Equity, Mr. Glazer was responsible for all aspects of the investment process, including identifying and developing opportunities, negotiating and closing transactions, and developing strategic plans and liquidity paths for portfolio companies. Before that, Mr. Glazer worked in the Mergers & Acquisitions Group at CSFB from 1988 to 1990 and from 1995 to 1997. He has served as a director and observer on the Boards of over a dozen companies, primarily in the biotechnology sector. Mr. Glazer serves on the Board of Directors of the following Perseus portfolio companies: Established Brands, Inc., Haggar Corp., and Physicians Interactive Holdings, LLC.

Mr. Glazer received an A.B., magna cum laude, from Harvard College and a J.D., with distinction, from Stanford Law School. He also clerked on the United States Court of Appeals for the Ninth Circuit.

Michael L. Miller is a Managing Director of Perseus. Prior to joining Perseus in 2005, Mr. Miller was the Managing Partner of Mill Consulting Group, an investment banking boutique that specialized in assisting small and medium sized enterprises in the identification and execution of strategic capital formation and M&A transactions. He served as one of four partners at Swiss Life Private Equity Partners AG in Zurich, Switzerland during 2002 and 2003. Mr. Miller was Vice President and Group Head of Principal Investments at Enron North America in Houston, Texas, where he focused on investments in new energy technologies and built a portfolio that included three companies in which Perseus was a co-investor. He founded and led UBS Capital GmbH, the Frankfurt-based private equity investment unit of the Union Bank of Switzerland Group in Germany. Mr. Miller started his career in the Mergers and Acquisitions Department of Salomon Brothers, Inc. in New York City and Frankfurt, Germany. Mr. Miller is a member of the Boards of Directors of the following Perseus portfolio companies: AGO AG Energie + Anlagen, Baumot AG, Deutsche KWK Holding GmbH, Puralube, Inc., and Seismic Equipment Solutions II, LP. Mr. Miller is also an advisor and mentor to the Energy Program of the Houston Technology Center.

Mr. Miller holds a B.S. in Chemical Engineering, a B.A. in German, and an M.B.A. from Rice University.

Anjali V. Jolly is a Vice President of Perseus. Prior to joining Perseus in 2005, Ms. Jolly worked at JPMorgan Partners (formerly Chase Capital Partners), where she focused on middle-market leveraged buyout and growth equity transactions. She was involved in all aspects of the investment process at JPMorgan Partners, including leading financial and operational diligence, participating in the negotiation and execution of transactions, and monitoring portfolio companies. Ms. Jolly has also worked in the investment banking division of Goldman, Sachs & Co. and in the marketing department of L’Oreal Inc. Ms. Jolly serves on the Board of Directors of the following Perseus portfolio companies: NanoBio Corporation and Pinacle Solutions UK Ltd.

Ms. Jolly holds an M.B.A. from Harvard Business School and a B.A. in Systems Engineering and Finance from the University of Pennsylvania (The Wharton School) where she graduated summa cum laude.

J.T. Mauk is a Vice President of Perseus. Prior to joining Perseus in 2007, Mr. Mauk worked for JPMorgan in the Consumer, Healthcare & Retail Investment Banking Group where he participated in the origination and execution of M&A advisory and financing mandates for companies in the consumer products and healthcare sectors. Prior to JPMorgan, Mr. Mauk worked for Brown Brothers Harriman & Co., providing financing to healthcare services and medical device companies. Mr Mauk serves on the Board of Directors of Perseus Books, L.L.C., a Perseus portfolio company.

Mr. Mauk holds an M.B.A. from the Darden School of Business at the University of Virginia and a B.B.A. in Finance from James Madison University. Mr. Mauk is a CFA Charterholder.

Teresa Young Bernstein is Vice President of Legal Affairs. Prior to joining Perseus in 2006, she was an associate in the corporate and securities group of Pillsbury Winthrop Shaw Pittman’s Washington office, focusing on mergers and acquisitions, private equity transactions, and regulatory matters relating to private and public pooled investment vehicles. Before joining Pillsbury, Ms. Bernstein worked as a corporate associate in the New York office of Paul, Weiss, Rifkind, Wharton & Garrison. Her practice included the organization and operation of private investment funds and joint venture, private equity, and merger and acquisition transactions.

Ms. Bernstein received a B.A., magna cum laude, in Comparative Literature from Cornell University and a J.D., magna cum laude, from American University Washington College of Law.

Joanne Marshall Shea is Assistant Vice President of Legal Affairs. Prior to joining Perseus in 2008, Ms. Shea was a legal consultant for XE Capital Management, LLC, a private equity and hedge fund firm. At XE, she managed the formation of a complex international private equity fund focused on real estate investments and structured fund investments in India. Earlier in her career, she worked as an associate for Cooley Godward, LLP (now Cooley Godward Kronish, LLP) representing start-up and later-stage private and public companies in the high-tech and biotech industries.

Ms. Shea holds a B.A. in Political Science from the University of Notre Dame and a J.D. from Georgetown University Law Center.

J.P. Bauman is a Senior Associate of Perseus. Prior to joining Perseus in 2006, Mr. Bauman worked at One Equity Partners, the private equity arm of JPMorgan. He was involved in all aspects of the investment process at One Equity Partners, including leading the financial and operational due diligence of prospective investments, participating in the execution of transactions, and monitoring portfolio companies. Mr. Bauman has also worked in the commercial banking and private wealth management divisions of JPMorgan and in the marketing department of the Kellogg Company.

Mr. Bauman holds an M.B.A. from the University of Chicago Booth School of Business and a B.A. in Economics from the University of Chicago.

Kristin M. Milone is a Senior Associate at Perseus. Prior to joining Perseus in 2009, Ms. Milone worked at CRT Capital Group LLC in its research department, analyzing high-yield debt and equity securities primarily of companies within the media and consumer industries. Prior to that, Ms. Milone worked in the Mergers & Acquisitions and Restructuring divisions of Rothschild Inc., where she was responsible for performing financial analysis of proposed transactions, conducting operational and financial due diligence, and executing on all aspects of the Chapter 11 bankruptcy process.

Ms. Milone holds an M.B.A. from the Darden School of Business at the University of Virginia, where she was a Jefferson Scholars Foundation Fellow, and a B.A. in Economics from Wesleyan University.

Aditya Dabas is an Associate at Perseus. Prior to joining Perseus in 2011, Mr. Dabas worked for Citigroup in the Investment Banking division, where he was responsible for performing financial analysis and due diligence in M&A and financing transactions for companies in the diversified industrials and energy sectors. Prior to that, Mr. Dabas worked in the semiconductor industry within the corporate strategy group at Advanced Micro Devices (AMD).

Mr. Dabas holds an M.S. in Operations Research from Columbia University and a B.S. in Electrical and Computer Engineering from the University of Michigan.

Roderick J. Cruz is the Chief Compliance Officer of Perseus. Prior to joining Perseus in 2011, Mr. Cruz was a consultant focusing on investment adviser, broker-dealer, and hedge fund compliance and operational issues. Prior to that, Mr. Cruz was an associate in the Financial Services Group of Dechert LLP, structuring hedge funds and counseling hedge fund managers on compliance with the Investment Advisers Act. Before joining Dechert, Mr. Cruz was an associate in the Financial Services Department of Tannenbaum Helpern Syracuse & Hirschtritt LLP, focusing on hedge fund formation and compliance with the Investment Advisers Act, anti-money laundering regulations, and privacy rules.

Mr. Cruz holds a J.D., cum laude, from Brooklyn Law School, an M.A. in International Affairs from the Elliott School of International Affairs at George Washington University, and a B.A. in History-Political Science from Tufts University.

D. Alexandra Gardiner is the Vice President of Finance at Perseus. Prior to joining Perseus in 2011, Ms. Gardiner was the Chief Financial Officer and Chief Compliance Officer of EMAlternatives LLC, a private equity fund investor that focuses exclusively on global emerging markets. In that role, she joined the firm at inception, and developed and led accounting, finance, reporting, and compliance functions. Prior to joining EMAlternatives, Ms. Gardiner served for almost four years as Vice President of Finance for The Rock Creek Group, which provides investment and advisory services to endowments, foundations, pension funds, sovereign wealth funds, and other institutional investors. From 1997 to 2003, she served as Vice President, Assistant Controller for Credit Suisse First Boston’s Private Equity Division and from 1995 to 1997, she served as Assistant Vice President for its Financial Audit Group.

From 1991 to 1995, Ms. Gardiner worked for Price Waterhouse LLP, first as a Staff Accountant in Baltimore, MD and later as a Senior Accountant for the Investment Management Services Group in Curacao, Netherlands Antilles.

Ms. Gardiner holds a B.S. in Accounting from Towson State University and an M.B.A. in Finance and International Business from New York University. She is a CPA certified in the State of Maryland.

Paige Garmon is a Senior Accountant at Perseus. Prior to joining Perseus in 2011, Ms. Garmon worked in both public and corporate accounting. Ms. Garmon’s most recent experience was as an Associate at Kennedy & Kennedy, PLLC, where her primary responsibilities included tax and financial statement preparations. Ms. Garmon also worked for Maritime Communication Services, Inc. (a subsidiary of Harris Corporation) as its Accountant. Her primary responsibilities included preparing financial statements, implementing internal audits, and training accounting staff.

Ms. Garmon holds a B.S. in Accounting from Auburn University. 
 

PERSEUS BETEILIGUNGSBERATUNG GMBH - MUNICH, GERMANY

 
Christian T. Staby is a Managing Director of Perseus Beteiligungsberatung GmbH. Prior to joining Perseus Beteiligungsberatung in 2005, Mr. Staby was a Partner at eM Investor Beteiligungsberatung GmbH, a private equity management company, and an Investment Manager at the e-millennium 1 Verwaltung GmbH venture capital fund. In both positions, Mr. Staby participated in all aspects of the investment process, including sourcing, due diligence, financial modeling, and structuring and negotiating buyout, growth equity, and venture investments. Prior to his work at eM Investor Beteiligungsberatung GmbH and e-millennium 1 Verwaltung GmbH, Mr. Staby was an Investment Director at BFD Capital Beteiligungen GmbH, a venture capital firm.

Mr. Staby is a former Vice President in the Corporate Strategy Division of Deutsche Bank AG. While there, he led the development of the Global Corporate and Investment Banking unit’s five-year strategic plan. Mr. Staby was a Case Team Leader in the Munich office of Bain & Company from 1996 to 1999, and has also held positions at Sal. Oppenheim Jr. & Cie., Brown Brothers Harriman & Co., and Massalin Particulares S.A.  Mr. Staby serves on the Board of Directors of the following Perseus portfolio companies: AGO AG Energie + Anlagen, Baumot AG, and Deutsche KWK Holding GmbH.

Mr. Staby holds an M.S. in Business Administration from Ludwig-Maximilians-Universitat, München and an M.B.A. from IMD, Lausanne.

Alexander Hunzinger is a Vice President of Perseus Beteiligungsberatung GmbH. Prior to joining Perseus Beteiligungsberatung in 2007, Mr. Hunzinger worked for the Investment Banking division of Sal. Oppenheim Jr. & Cie., where he participated in the origination and execution of M&A advisory and privatization projects for companies in the energy, water, and waste management sectors. Mr. Hunzinger is a member of the Board of Directors of the following Perseus portfolio companies: AGO AG Energie + Anlagen and Deutsche KWK Holding GmbH.

Mr. Hunzinger has studied at the University of Cologne, Germany and the Fundacao Getulio Vargas, São Paulo, Brazil and holds a Master's degree in Business Administration from the University of Cologne.

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Bios updated 1/27/12