Slater Technology Fund Director Among Top 25 Most Influential People in New England Life Sciences

Richard G. Horan Named as a Key Player in Shaping the Future of Life Sciences in the Region

Providence, R.I., November 1, 2006 — Slater Technology Fund today announced that Senior Managing Director Richard G. Horan was named one of the top 25 most influential people in New England Life Sciences by The Convergence Guide, a recently published book about the trends and issues impacting the growth of the life sciences.

The individuals named by The Convergence Guide were chosen as the people “most responsible for shaping the future of life sciences in New England.”. Members of the list include leaders from academia, represented by Susan Hockfield, Ph.D., President of the Massachusetts Institute of Technology; biotech industry leaders such as Jim Mullen, CEO of Biogen Idec and current Chairman of the Biotechnology Industry Organization (BIO); pharmaceutical executives such as John LaMattina, Ph.D., President of Global Research and Development at Pfizer; and policymakers such as Senator Edward M. Kennedy of Massachusetts.

Horan was cited for his efforts through the Slater Technology Fund “to help ignite the life sciences economy in Rhode Island.” Under his leadership, the Slater Fund has helped to greatly expand the industry sector in Rhode Island, investing $15 million in new ventures that have gone on to raise more than $175 million in additional funding. Slater’s investments in life sciences companies include Cyberkinetics, Afferent Corporation, Concordia Fibers, NABsys/Gene Spectrum and Selva Medical, among others. According to a recent report by Biotech Rhode Island, the life sciences industry has become a significant driver of the state’s economy, employing more than 4,700 people with gross payrolls in excess of $270 million.

“Biotechnology and life sciences are a critical part of our strategy for building an innovation economy here in Rhode Island,” said Governor Donald L. Carcieri. “Thanks to the ongoing efforts of the many organizations and individuals engaged in economic development statewide, Rhode Island has created a strong and vibrant community of life science research institutions, startup companies and established corporations that work collaboratively to foster growth and innovation across the state. I am delighted that Rich has been recognized for his valuable contributions to this important endeavor.”

Horan and the other influencers will be honored at a dinner in Cambridge on November 8, 2006 organized by Convergence: the Life Sciences Leaders Forum. (For more information, see www.convergenceforum.com)

About Slater Technology Fund
The Slater Technology Fund supports the development of emerging industries with potential for significant long-term growth within the State of Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term.

For More Information
Laura Nelson
SVM Public Relations
401-490-9700
laura.nelson@svmpr.com