Dr. McGraw has served on our Board since April 2000, except for the period from November 2002 to December 2002. Dr. McGraw is the managing member of Long Shadows Asset Management, LLC, a registered investment advisor. Prior to this, Dr. McGraw was President and Chief Executive Officer since 1994, director since 1996, and Treasurer since 2006, of Valentis, Inc., a biotechnology company, until Valentis, Inc. was acquired by Urigen Pharmaceuticals, Inc., in July 2007. Prior to this, Dr. McGraw was Corporate Vice President for Corporate Development of Allergan, Inc., a public specialty pharmaceutical company focusing on ophthalmology, dermatology and neuromuscular indications, which we refer to as Allergan. Prior to this, he was an equity analyst and a fund manager at Carerra Capital Management. Prior to this, he was Vice-President, Development for Marion Laboratories and Marion, Merrell Dow, both of which were public companies. Dr. McGraw received a B.S. and a Doctor of Pharmacy from the University of Tennessee Center for the Health Sciences, where he also completed a clinical practice residency.
In the past five years, Dr. McGraw has served as a member of the board of directors of Valentis, Inc. and Urigen, Inc., both of which are public companies and as a managing member of Long Shadow Asset Management, LLC, which is a registered investment advisor.  Dr. McGraw brings to the Board extensive experience in the biotechnology industry, as well as, extensive  experience in accounting and finance issue, and is an "audit committee financial expert" as defined by the rules of the SEC.