Management

Chairman – Non-executive Director
Rolf Stahel

Rolf Stahel, a Swiss national, is a graduate in Business Studies (KSL, CH) and attended the 97th AMP (Harvard). He worked for 27 years with Wellcome plc in Switzerland, Italy, Thailand, Singapore and the UK. As Regional Director, based in Singapore, Mr. Stahel was responsible for 18 Pacific Rim countries. His last position with Wellcome was Director of Group Marketing, reporting to the Chief Executive of Wellcome.

Mr. Stahel joined Shire Pharmaceuticals Group plc in March 1994 as its Chief Executive. At this time the company was privately held and had an estimated value of approximately $30m, revenues of $3m and 50 employees. He implemented six mergers and acquisitions. Nine years later Shire had a market capitalisation of approximately $3.2bn*, revenues of $ 1.1bn, 1800 employees and ranked on the FTSE no. 86*. Mr. Stahel left Shire on 19.3.03.

On 15 March 2001 Mr. Stahel received the Global Chief Executive Officer of the Year Award 2001 for the pharmaceutical industry by Informa. On 5 June 2003 Mr. Stahel received the award of “Most Significant Contribution to UK Lifesciences” by TechMark, Mediscience.

On 23.9.03 Mr. Stahel registered Chesyl Pharma Ltd joining Chesyl as Chairman. Chesyl offers Consultancy Services to portfolio companies only.

Mr. Stahel serves as non-executive Chairman for the following companies:

• Newron Pharmaceuticals SpA from 30.6.04 (www.newron.com).
• Cosmo Pharmaceuticals SpA from 14.12.06 (previously Deputy Chairman of Cosmo Holding SpA with effect 19.10.04) (www.cosmopharmaceuticals.com).
• PowderMed Ltd. from 21.2.2005 (resigned on the sale of the company to Pfizer on 30.11.06).
• EUSA Pharma Inc from 1.1.07 (www.eusapharma.com)

Mr. Stahel joined the Advisory Board of Tanaka Business School (Imperial College London) on 01.11.07 (www3.imperial.ac.uk/tanaka).

*Source: Sunday Times 1.6.03

Managing Director - CEO
Mauro Severino Ajani

Founder, and through his holdings in Cassiopea SA, main shareholder of Cosmo Holding S.p.A. and Cosmo Bioscience S.p.A., as well as indirectly of Cosmo Pharmaceuticals S.p.A.. CEO of Cosmo Pharmaceuticals SpA.

Sole Director of Cosmo S.p.A. from 1998 to February 2001. From 1994 to 1996, he was the General Manager of the Russian company Italcenter and took part in a Joint Venture of Italian and Russian entrepreneurs for the creation of a pharmaceutical product distribution company.

He was a consultant to Pharmhispania from 1991 to 1993, an Italian-Spanish joint venture for the import/export and distribution of pharmaceutical products between Spain and Italy.

From 1983 and 1993, he was the Marketing Manager of Pharmajani S.r.l., a company engaged in the commercial distribution and logistics of pharmaceutical products. From 1980 to 1983, he was Nielsen’s area manager for over-the-counter products of the Serono OTC company, while during 1978-1980, he worked as a salesman for Lepetit and Gazzoni in the OTC sector.

Executive Director - CFO
Dr. Hans Christoph Tanner

Dr. Tanner has been a board member of Cosmo Pharmaceuticals S.p.A. since 2006, and, as of 2005, of Cosmo Holding S.p.A.. Since 2006 he has been Chief Financial Officer of Cosmo Pharmaceuticals S.p.A.

He is also a board member/Beirat of Joimax GmbH, Cosmo Bioscience Inc. and Private Equity Holding AG.

From 2001 he worked as a corporate finance advisor and participated in numerous fund raisings, including those for the private placements of Cosmo Holding S.p.A. and of CureVac GmbH. He advised on the first successful unsolicited bid for a listed company in Switzerland.

From 1998 to 2001 he was a partner of Dr. Ernst Müller-Möhl and co-founded the 20 Minutes group of newspapers and founded A&A Active Investor, a listed investment company.

From 1992 to 1998 he was head of corporate finance of UBS in Zurich.

Dr. Tanner holds an economics diploma and a PhD in economics from the University of St. Gallen.

Non-executive Director
Dr. Gianluigi Bertolli

Gianluigi Bertolli, Italian national, resident in Milan, Italy has been a board member of Cosmo Pharmaceuticals S.p.A. since 2006 and as of 2005, of Cosmo Holding S.p.A. Dr. Bertolli is the owner and head of Studio Bertolli Gianluigi, a firm that specializes in M&A, accounting and tax advice. He has a diploma as “Business and tax consultant”, a diploma as “Chartered accountant” and a PhD from the Bocconi University in Milan. He is the General Secretary of Italian National Association of Chartered Accountants. President of Statutory Auditors of a number of main Italian and international companies.

Non-executive Director
Dr. Friedrich von Bohlen und Halbach

Dr. Friedrich von Bohlen und Halbach has been a board member of Cosmo Holding S.p.A. since 2005, elected on the list proposed by the investors in the private placement.

Dr. von Bohlen is managing partner at Dievini GmbH & Co. KG, the company managing the life science activities and investments of Dietmar Hopp. In addition, he is board member of:

• Apogenix GmbH
• Curacyte AG
• CureVac GmbH
• Cytonet GmbH
• Heidelberg Pharma AG
• Immatics GmbH
• Life Biosystems AG
• Sygnis Pharma AG
• Wilex AG.

Dr. von Bohlen has more than 10 years of entrepreneurial experience in the Life Sciences. As former CEO of Lion Bioscience AG he led Lion's IPO in 2000 at 'Neuer Markt', Frankfurt and at Nasdaq, New York. In addition to that, he has been awarded numerous prizes, including the German Entrepreneur of the Year prize in 1999 by Ernst & Young, SAP and Manager Magazin.

Dr. von Bohlen holds a diploma in biochemistry from the University of Zurich and a PhD in
neurobiology from the Swiss Federal Institute of Technology (ETH) in Zurich.

Non-executive Director
Dieter A. Enkelmann

Dieter Enkelmann has been a board member of Cosmo Pharmaceuticals SpA since 2006.

Dieter Enkelmann is the Chief Financial Officer and member of the Executive Management Board of Julius Bär Holding AG, one of Switzerland's largest private banks, listed on the SWX.

From 2003 until 2006 he was the Chief Financial Officer of Barry Callebaut AG, the world's leading manufacturer of high quality cocoa, chocolate and confectionary products which is listed on the SWX.

From 1997 to 2003 he was at Swiss Re as Head of Finance of the Business Unit Financial Services and as Head of Corporate Finance and Investor Relations, Treasury. From 1985 to 1997 he was at Credit Suisse First Boston.

Dieter Enkelmann holds a law diploma from the University of Zürich.

Non-executive Director
Avv. Alessandro Della Chà, LL.M.

Avv. Alessandro Della Chà has been a board member of Cosmo Pharmaceuticals SpA since 2006.

Avv. Della Chà is senior partner at Studio Legale Edoardo Ricci e Associati, in Milan, where he specializes in company law, mergers and acquisitions. He joined the firm in 1988. From 1987 - 1988 he was assistant of the Central Director for Corporate Matters at Fininvest Group. From 1994 - 1998 he was director of II.PP.A.B. Milan (ex ECA), a charitable institution owning hospitals and specialized in elderly care.

Avv. Della Chà holds a degree in law from the University of Milano (Italy) and an LL.M. of the University of Leicester (UK) in European Union Commercial Law. He is lecturer for commercial and company law issues in conferences and seminars held by universities and institutions.

Chief Executive Officer
Mauro Severino Ajani

CEO of Cosmo Pharmaceuticals SpA. From 1998 to 1991 sole director of Cosmo SpA. Founder and through his holdings in Cassiopea SA, main shareholder of Cosmo Holding S.p.A. and Cosmo Bioscience S.p.A., as well as indirectly of Cosmo Pharmaceuticals S.p.A.. Sole Director of Cosmo S.p.A. from 1998 to February 2001.

From 1994 to 1996, he was the General Manager of the Russian company Italcenter and took part in a Joint Venture of Italian and Russian entrepreneurs for the creation of a pharmaceutical product distribution company.

He was a consultant to Pharmhispania company from 1991 to 1993, an Italian-Spanish joint venture for the import/export and distribution of pharmaceutical products between Spain and Italy.

Between 1983 and 1993, he was the Marketing Manager of Pharmajani S.r.l., a company engaged in the commercial distribution and logistics of pharmaceutical products. From 1980 to 1983, he was Nielsen’s area manager for over-the-counter products of the Serono OTC company while during 1978-1980, he worked as a salesman for Lepetit and Gazzoni in the OTC sector.

Chief Operating Officer
Giuseppe Cipriano

Mr. Cipriano has been Managing Director of Cosmo S.p.A. since 2001.

From 1996 to 2001 he was managing director of Gian Franco Ferre S.p.A. and Gian Franco Ferre USA Holding, the well known fashion group. From 1990 to 1996 he was the managing director of Cordara S.p.A. and Ecor Impianti Srl, both companies in the field of commercialisation of oil products and related services.

From 1982 to 1990 he was a vice president (Vice Direttore) in the Public Administration Inland Revenue Department in Milano.

Chief Financial Officer
Dr. Hans Christoph Tanner

Dr. Tanner has been a board member of Cosmo Pharmaceuticals S.p.A. since 2006, and, as of 2005, of Cosmo Holding S.p.A.. Since 2006 he has been Chief Financial Officer of Cosmo Pharmaceuticals S.p.A.

He is also a board member/Beirat of Joimax GmbH, Cosmo Bioscience Inc. and Private Equity Holding AG.

From 2001 he worked as a corporate finance advisor and participated in numerous fund raisings, including those for the private placements of Cosmo Holding S.p.A. and of CureVac GmbH. He advised on the first successful unsolicited bid for a listed company in Switzerland.

From 1998 to 2001 he was a partner of Dr. Ernst Müller-Möhl and co-founded the 20 Minutes group of newspapers and founded A&A Active Investor, a listed investment company.

From 1992 to 1998 he was head of corporate finance of UBS in Zurich.

Dr. Tanner holds an economics diploma and a PhD in economics from the University of St. Gallen.

Chief Scientific Officer
Dr. Luigi Moro

Mr. Moro has been Chief Scientific Officer of Cosmo S.p.A. since September 1999.

He began his career in 1976 with Farmitalia–Carlo Erba, working on discovery-pre-clinical phase technological projects and the development of new drug administration systems, with particular concentration on anti-cancer drugs.

From 1985 to 1988, with Recordati Industria Chimica e Farmaceutica S.p.A., he collaborated on the direction of technological projects of the parent company and in the definition of Drug Delivery Systems developed by the subsidiary company Pharmetrix, a California company specializing in the application of polymer membranes and control systems for problems relating to the controlled administration of drugs.

He was appointed Manager of the Pharmaceutical Technology Laboratories of Poli Industria Chimica S.p.A. in 1988 and from 1990 to 1995, he coordinated the company’s research activities and industrial applications in the pharmaceutical, synthesis and fermentation sector. In 1996, he became Manager of Industrial Development, responsible for the identification of the technical resources and facilities for the industrial implementation of development projects.

He is the author of numerous scientific publications and papers and inventor of numerous international technology patents. Mr. Moro graduated in chemistry and pharmacology at the University of Milan.

Chief Medical Officer
Dr. Giuseppe Celasco

Dr. Giuseppe Celasco has been Chief Clinical Officer of Cosmo S.p.A. since 2001. He began his career as a researcher in the field of toxicology and endocrinology in the Werner-Vister Institute for Research on Steroids in 1969 and was subsequently appointed Responsible for the Department of Pharmacology and Toxicology within the same research institute in 1972.

He taught Experimental Endocrinology at the University of Pavia (1972) and, immediately after (1972-75), General Pathology and Ocular Pathology at the Superior Institute of Optometric Sciences of Milan.

From 1983 to 1987 he has been appointed Senior Medical Advisor of Parke-Davis S.p.A., and, from 1995 to 1997, Director of Scientific Affairs and Regulatory Affairs Manager within the same company.

Before joining Cosmo S.p.A. in 2001 he was Responsible for the Vigilance on Pharmaceuticals for Parke-Davis S.p.A. He is a Medical Doctor and holds a PhD from the University of Genova, Italy.

Head of IBD Business Development
Gian Carlo Naccari

Mr. Naccari has been in the pharmaceutical business for 40 years and is considered one of the leading IBD experts in the field.

From 1998 to 2006 he was Head of Prescription Drugs and Head of Business Development at Giuliani S.p.A. and acted as interface with Cosmo for many years.

From 1994 to 1997 he was Managing Director for Europe at Osteotech Inc, a leading bone replacement and medical device company, and from 1989 to 1992 he was Managing Director of Centocor Italy. Prior to this he was at Giuliani S.p.A., Gist Brocades, Italfarmaco and Pfizer.

Chief Manufacturing Officer
Roberto Villa

Mr. Villa has as been a member of Cosmo S.p.A. since its establishment having been part of Parke Davis when the plant was sold to Cassiopea SA. He has significant experience in multi-national pharmaceutical companies.

He began his career as a laboratory analyst, and was promoted to Production Manager, Head of Development Laboratories, and finally, Head of Quality Control and Quality Assurance Laboratories. The experience acquired in various pharmaceutical sectors led to his appointment as Plant Manager of Cosmo S.p.A. and he is responsible for the supervision of all industrial, logistic and quality aspects of the group’s production facilities.

Clinical Operation Manager
Richard Jones

Mr. Jones is the Clinical Operation Manager, which is the interface of the Group with the CROs, in charge of conducting the clinical trials. He has been with the Group since 2006.

From 1996 to 1999, Richard Jones worked as clinical scientist at National Health Service in the UK. From 1999 to 2005, he worked with ICON, first as a drug safety associate, thereafter as a project manager and finally as a senior project manager. Before he joined Cosmo Pharmaceuticals S.p.A, he held a position with Nabi Biopharmaceuticals Europe. He holds a PHD in Chemical Biochemistry from Trinity College, Dublin.

Head of Generics Business Development
Massimo Pedrani

Mr. Pedrani, Head of Business Development Generics, began his career as a researcher in the Galenical Laboratory of Midy S.p.A. (Sanofi Group) in 1981 and then worked in the same position in Pierrel S.p.A. from 1983 to 1987. He then joined Farmitalia – Carlo Erba (Erbamont Group) as supervisor of external research institutes and Head of the Industrial Galenics Laboratories until 1992.

During 1992-1996, he was the head of the Italian subsidiary of Applied Analytical Industries Inc., a U.S. company operating in the pharmaceutical research and services sector. Since 1997, he has worked as a pharmaceutical business development and regulatory affairs consultant through his own company, Emmepi Pharma SAS. He joined Cosmo Pharmaceuticals S.p.A. as an external consultant in July 2001. He gratuated in chemistry and pharmacology at University of Pavia.