1. and welcome you to our webcast: “Technology Transfer in the 21st Century: Finding the Next Facebook” THE MERRILL CORP. LOGO SHOULD GO HERE

2. Introduction Moderator: Mary Kathleen Flynn Senior Editor/Video Producer The Deal LLC

3.  The audience is in listen-only mode  E-mail questions via the Q&A panel box  Select questions will be answered during the last 10 minutes of the program  Webex customer support at 866-229-3239 REMINDER

4. Jeff Jensen Chief Executive Officer Fluxion Biosciences Inc. John Steuart Managing Director Claremont Creek Ventures LP EXPERT PANEL

5. Maria Gotsch President and CEO New York City Investment Fund David Brophy Director of the Office for the Study of PE Finance/Associate Professor of Finance University of Michigan School of Business Administration EXPERT PANEL

6. The evolving incubator scene: Regional differences across America

7. Seeds from the Big Apple: What sets it apart?

8. VC firms invested $215 million in 27 Michigan companies during 2010 Source: Michigan Venture Capital Association

9. Setting the bar for startups and tech transfers &

10. Universities’ role in nurturing new technologies and startups

11. Best practices for developing and nurturing technologies and startups

12. VCs invested $5.9 billion in 736 deals in the first- quarter 2011, a 14% jump in dollars and a 6% decrease in deals, compared to $5.2 billion going into 787 deals in the first-quarter 2010 Source: PricewaterhouseCoopers

13. Biotechnology investing expanded by 5% in dollars in the first-quarter 2011 but dropped 21% in deals year over year with $784 million going into 85 deals Source: PricewaterhouseCoopers

14. LIFE SCIENCES VENTURE CAPITAL FUNDING (includes Biotech) FIRST-QUARTER 2011 San Francisco Bay$381 million New York Metro$190 million Boston$182 million San Diego Metro$82 million North Carolina Research Triangle $68 million Source: PricewaterhouseCoopers

15. Obstacles and pitfalls for finding the right VC

16. Success stories: Notable portfolio companies

17. Examples of extraordinary returns from recent exits. Exit values are of national standards. Returns from Michigan’s venture-backed companies CompanyIndustryTotal VC Investment Return Multiple IRRIPOExit Value Accuri Cytometers Ann Arbor UM spinout Biopharma $28M 8x117%$225M 2011—Becton, Dickinson & Co. Arbor Networks Ann Arbor UM spinout IT—Software$33MUndisclosed amounts 2010—Tektronix Communications HandyLab Ann Arbor UM spinout Medical Device $47M5x46%$275M 2009—Becton, Dickinson & Co. Pump Engineering Monroe Alternative Energy $2.4M11x99%$27M 2009—Energy Recovery Inc. HealthMedia Ann Arbor UM spinout Healthcare Services $17M10x42%$180M 2008—Johnson & Johnson Sircon Okemos IT—Software$16M5x16%$50+M 2008—Vertafore Source: Michigan Venture Capital Association

18. Examples of extraordinary returns from recent exits. Exit values are of national standards. Returns from Michigan’s venture-backed companies CompanyIndustryTotal VC Investment Return Multiple IRRIPOExit Value IntraLase UM spinout Medical Device $73M50%2004$813M 2007—Advanced Medical Optics Arbortext Ann Arbor IT—Software$55M10x28%$190M 2005 - PTC Esperion Therapeutics Ann Arbor Biotech Pharma $42M13x104%2000$1.3B 2004—Pfizer Inc. Blue Gill Technologies Ann Arbor IT—Software$27M477%$222M 1999—CheckFree Holdings Corp. Continued… Source: Michigan Venture Capital Association

19. Economic recoveries impact on tech transfers

20. Outlook

21. Q&A

22. THE DEAL WEBCAST SERIES Upcoming Events Brought to you by The Deal LLC and Merrill DataSite, this complimentary event on May 24 2 p.m. EDT focuses on the latest M&A trends of strategic acquirers. Reserve your seat: http://www.thedeal.com/knowledge/merrill- datasite/strategic-ma-deals---regions-sectors-and- structures.php

23. thank you for joining our webcast. and THE MERRILL CORP. LOGO SHOULD GO HERE