Ben Franklin Technology Partners of Southeastern Pennsylvania Appoints Roy S. Chaleff, Ph.D., Senior Vice President of Regional Technology Initiatives

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| Source: Ben Franklin Technology Partners of Southeastern Pennsylvania

PHILADELPHIA, Sept. 6, 2005 (PRIMEZONE) -- Roy S. Chaleff, Ph.D., Acting Vice President for Research at the University of Medicine and Dentistry of New Jersey (UMDNJ), who is noted for his achievements in research partnerships, patenting and licensing, and a corporate background in developing and commercializing technology, including at DuPont & Co. and American Cyanamid Co., has been appointed Senior Vice President of Regional Technology Initiatives for Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) (www.sep.benfranklin.org), effective September 1, 2005.

Dr. Chaleff brings more than 30 years of experience working in academia and life sciences as a classroom instructor, administrator, and scientist. Before working at BFTP/SEP, he also served as Acting Associate Dean for Research at New Jersey Dental School. Prior to that, he was Acting Director of UMDNJ's Office of Patents and Licensing. In addition, he has served as a consultant for major corporations and institutions, including The Rockefeller Foundation, International Paper Company, and smaller enterprises, such as Morphotek, Inc., one of the many companies that BFTP/SEP has provided early seeding.

In the newly created position at BFTP/SEP -- an innovative economic development organization that grows the region's economy through science, technology and entrepreneurship -- Dr. Chaleff will focus on Ben Franklin's larger and region-wide technology partnerships and major initiatives. These include the Nanotechnology Institute (NTI), the Mid-Atlantic Nanotechnology Alliance (MANA(r)), relationship with the United States Commerce Department's National Institute of Standards and Technology (NIST), evolving activities in the Keystone Innovation Zones (KIZs) at the Philadelphia Navy Yard, and various emerging technology hubs.

"We are very excited about having Dr. Chaleff in this senior management position. It provides Ben Franklin with greater depth and dimension, and brings an important resource to the management of our more complex technology initiatives," said RoseAnn B. Rosenthal, BFTP/SEP's President and CEO. "Aligning capital, knowledge and networking strategies maximizes the impact we can have in support of the region's technology sector. Dr. Chaleff's role recognizes the value of larger, focused partnerships that complement our efforts in capital formation and investment, and product development and commercialization services."

Dr. Chaleff, who is adept at forging strategic collaborations, said that he greatly admires Ben Franklin's regional focus in igniting innovation while forming strategic partnerships.

"I am delighted to join Ben Franklin Technology Partners, which over the past two decades has contributed so importantly to the regional economy by seeding and nurturing technology-based enterprises," Dr. Chaleff said. "Being part of this dynamic and dedicated team will surely prove to be the most rewarding and purposeful phase of my career. I look forward to putting my experience and expertise in research and commercialization in both the public and private sectors to work for Ben Franklin."

Dr. Chaleff says that he applies a broad and interdisciplinary lens when looking at scientific and commercial problems and challenges. He has been intimately involved with discovering products (including herbicides) and assessing their commercial viability in the marketplace. On policy issues, he has helped to create New Jersey Governor's Economic Master Plan, served on various advisory boards and commercialization centers, and is a member of the state's National Institutes of Health Coordinating Council. He also has served on various international boards and was Senior Scientific Officer in the Department of Applied Genetics at John Innes Institute, in England, where he studied the science of rice as a stable crop in third-world countries.

Growing up in New York City, Dr. Chaleff says that he "developed a fondness for science" when he completed a summer internship at the New York City Eye and Ear Institute following his junior year in high school. He later earned his Bachelor of Arts degree (cum laude) in biology from Amherst College, and Master's degree in philosophy and Ph.D. in biology, both at Yale University.

At UMDNJ, whose research budget exceeds $100 million, Dr. Chaleff was the driving force behind the creation of the Ph.D. Program in Bioinformatics. With five patents to his credit, Dr. Chaleff has had his research and findings published in numerous scientific journals, including in Science and Molecular General Genetics, The World Biotech Report, Handbook of Plant Cell Culture, and Crop Science.

About Ben Franklin Technology Partners of Southeastern Pennsylvania

Since 1982, Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has helped grow the region through science, technology and entrepreneurship. Part of a statewide network in Pennsylvania, BFTP/SEP provides entrepreneurs and established businesses the capital, talent, and expertise they need to compete in the global marketplace. The organization has provided more than $110 million to over 1,400 regional enterprises through various funding means. BFTP/SEP is a founding partner of the Nanotechnology Institute (NTI) and the Mid-Atlantic Nanotechnology Alliance (MANA) and is funded by the Commonwealth of Pennsylvania's Department of Community and Economic Development.

BFTP/SEP
Samuel W. Pressley
Director, Marketing & Communications
(215) 972-6700, ext. 3085