Board of Directors

Dr. Seth Rudnick - Chairman
Seth A. Rudnick, M.D. has been an adjunct clinical professor of medicine at The University of North Carolina-Chapel Hill (UNC-CH) and is a partner at Canaan Partners, a global venture capital firm. Dr. Rudnick is well known for his expertise in healthcare investments and has worked closely with numerous companies to develop novel therapeutic products. In 2006 and 2007, Dr. Rudnick was named to the Forbes Midas List, a ranking of the top venture capitalists in technology and life sciences. Prior to joining Canaan Partners, Dr. Rudnick served as CEO and Chairman of CytoTherapeutics, and before that led research and development for Ortho Biotech, a Johnson & Johnson subsidiary.

Mr. Neal Fowler - Chief Executive Officer
Neal Fowler is Liquidia's Chief Executive Officer. Mr. Fowler joined Liquidia after seven successful years at Johnson & Johnson. Formerly, he was president of Centocor, Inc., a multi-billion dollar subsidiary focused on development and commercialization of industry leading biomedicines used in the treatment of chronic inflammatory diseases. At Centocor, Mr. Fowler prepared the company for the launch of two potential blockbuster products and continued the company's legacy of double-digit growth for their flagship product REMICADE® (infliximab). Prior to Centocor, Mr. Fowler was president of Ortho-McNeil Neurologics Inc. and vice president of the central nervous system franchise at Ortho-McNeil Pharmaceuticals. Mr. Fowler joined Johnson & Johnson after a successful 13-year career at Eli Lilly and Company, where he doubled sales of the cardiovascular business unit over a three-year period. Mr. Fowler is a native of Raleigh, NC and received a Bachelor of Science degree in Pharmacy and Masters of Business Administration from the University of North Carolina at Chapel Hill (UNC-CH).

Dr. Lowry Caudill
Dr. Caudill co-founded and served as president of Magellan Laboratories, Inc., a self-funded start-up which was successfully sold to Cardinal Health for $250MM. Dr. Caudill is a Steering Committee member of the $1.8 billion Carolina First Campaign and is chair of the Private Fundraising Steering Committee for the UNC-CH Physical Science Complex.

Professor Joseph DeSimone - Founder and Chief Scientific Officer
Dr. DeSimone founded Liquidia Technologies in 2004 with his colleagues at The University of North Carolina at Chapel Hill (UNC). Dr. DeSimone holds faculty positions at UNC and North Carolina State University. He has co-founded multiple companies during his 16-year tenure at UNC, the most recent of which was acquired by Guidant Corp. Dr. DeSimone is the youngest member of the National Academy of Engineering. He is credited with over 100 issued patents and more than 200 published articles, and currently serves as Liquidia's Chief Scientific Officer.

Mr. Steve Nelson
Steve has been involved with Liquidia since 2004, and is a General Partner at Wakefield Group, which led Liquidia's Series A financing. Steve is a former senior executive at IBM and Informix Software, and was the first senior person hired at Quokka Sports, a Silicon Valley-based digital media company that ultimately raised $140MM and went public in 1999. He brings more than 20 years of leadership experience to Liquidia. Since joining Wakefield in 1999, Steve has been an investor and board member with many successful private companies.

Dr. Ralph Snyderman
Dr. Snyderman is a Venture Partner at New Enterprise Associates (NEA) where he focuses primarily on biotechnology investments. He is Chancellor Emeritus, Duke University and James B. Duke Professor of Medicine in the Duke University School of Medicine. Ralph served as Chancellor for Health Affairs and Dean of the School of Medicine from 1989 to July 2004. He also oversaw the development of the Duke University Health System and served as its first President and Chief Executive Officer. Prior to joining the Duke University School of Medicine, Dr. Snyderman was Senior Vice President for Medical Research and Development at Genentech, Inc. He played a prominent role in the leadership of such important national organizations as the Association of American Physicians, the Institute of Medicine and the Association of American Medical Colleges. Dr. Snyderman is the recipient of numerous prestigious awards and honors as well as a major contributor to nearly 375 scientific manuscripts.

Dr. Ravi Viswanathan
Dr. Viswanathan is a Partner at NEA where he focuses on information technology investments. Prior to joining NEA, Dr. Viswanathan was co-head of the Goldman, Sachs & Co. technology practice within the firm's private equity group. He previously worked for McKinsey & Company and Raychem Corporation in the Corporate Technology Division. Dr. Viswanathan brings to Liquidia an extensive background in the areas of life sciences, information technology, and materials systems. In addition to Liquidia, Dr. Viswanathan currently serves on the board of Availink, ISGN Technologies, Jentro Technologies, and ViXS.

Mr. Burton "Buck" Goldstein - Board Observer
Buck Goldstein is the University Entrepreneur in Residence and a Senior Lecturer in the Department of Economics at the University of North Carolina at Chapel Hill. Prior to returning to the University, Goldstein co-founded Information America, an online information company which was publicly traded and subsequently acquired by the Thomson Corporation.

Mr. Martin Lagod - Board Observer
Martin Lagod is the Managing Director and co-founder of Firelake Capital. He serves as a member of the board of Nano-Tex LLC and HydroPoint Data Systems, Inc., and is also an observer on the boards of Pionetics, Sensicore, Solicore, Miasolé and Nanostellar, all Firelake portfolio companies.

Mr. Mike Raab - Board Observer
Mike is a Partner at NEA where he specializes in healthcare investments in the biotechnology and pharmaceutical sectors. Prior to joining NEA, Mike was Senior Vice President, Therapeutics and General Manager, of the Renal Division at Genzyme Corporation. During his time at Genzyme, Mike has worked as Vice President of Business Development for the Therapeutics Division, Product Manager for Ceredase and was instrumental in the worldwide launch of Cerezyme, Genzyme's $1 Billion therapies for Gaucher Disease. He also spent two years with Genzyme's Diagnostic products and services division. Mike is a member of the Life Sciences Advisory Board for Silicon Valley Bank; currently serves on the board of Amicus Therapeutics, Intarcia, CellGate, Novacea, Hyperion and Macroflux; and is actively involved with a number of life science and pharmaceutical companies.

Dr. Ed Samulski - Board Observer
Ed Samulski is the Cary C. Boshamer Professor of Chemistry at the University of North Carolina at Chapel Hill. His most recent research has focused on molecular packing of liquid crystal molecules, and fluorocarbon solubility in liquid and supercritical carbon dioxide. Professor Samulski has received numerous honors, including the Simon Guggenheim, American Physical Society, and American Association for the Advancement of Science fellowships. He currently serves as Co-director of the NASA Institute on Biologically Inspired Materials (BIMat) as well as on the International Board of the MacDiarmid Institute for Advance Materials and Nanotechnology.

Mr. William Starling - Board Observer
Bill Starling is Chief Executive Officer of Synecor, LLC, a business generator of new life science companies. As CEO of Synecor, Mr. Starling is a co-founder of BaroSense, Inc., Bioerodible Vascular Solutions, Inc., (acquired by Guidant/Abbott in April 2004), InnerPulse, Inc. (formerly Interventional Rhythm Management, Inc.) and TransEnterix, Inc.