Osage Partners
Osage Advisory Board
LP Advisory Board
Robert A. Fox
Robert A. Fox is Chairman & C.E.O. of R.A.F. Industries, Inc. Prior to founding R.A.F. he served as Chairman of the Board & C.E.O. of Waste Resources Corporation, O.T.C. and President, C.E.O & Chairman of the Board of Warner Company, NYSE. Mr. Foxs business affiliations include Board Member of InPhonic, Inc., Board Member of G.H.R., Inc., Board Member of WineAccess, Inc., Advisory Board Member of Keystone Foods Corporation, and Advisory Board Member of Graham Partners. He is a Trustee at the University of Pennsylvania, On the Board of Managers of The Wistar Institute and a member of the Board of Directors of the Foreign Policy Research Institute.

Mr. Fox earned his B.S. in Economics at the University of Pennsylvania.

About the company: R.A.F. Industries, Inc. is a private investment company which acquires and manages a diversified group of operating companies and venture capital investments. RAFs mission it to develop and nurture world-class companies by combining entrepreneurial operating executives with RAFs seasoned corporate management team. Investments are made and portfolio companies are operated, for the very long term. Emphasis is placed on the optimal deployment and development of executive skills and capital resources. This operating philosophy, combined with the strength of its management team and the depth of its financial resources, uniquely positions RAF Industries to create win-win situations for motivated entrepreneurs.

Stephen M. Goodman
Stephen M. Goodman is a partner in the Business Transactions Practice of Morgan Lewis Law Firm. Mr. Goodman is co-chairman of the Firms Global Technology Practice. His practice focuses on representing emerging growth companies in the technology and life sciences sectors. He has nurtured startup companies such as CDnow, VerticalNet, ICG Commerce, AirClic, and AANet.com. Using the firm's vast resources, he coordinates all aspects of the representation of such companies and concentrates his practice on legal aspects of corporate finance and acquisitions.

Before joining the firm, Mr. Goodman was a senior partner at Wolf Block, Schorr & Solis-Cohen. While there, he served as chairman of the Corporate Law Department, chairman of the Hiring Committee, as a member of the Executive Committee and as chairman of the Venture Development Group.

Mr. Goodman earned his LLB from the University of Pennsylvania Law School and his BS from the University of Pennsylvania.

About the company: Morgan Lewis is consistently ranked among the worlds leading law firms for delivering effective solutions to its clients. From day-to-day business decisions to the most complex and global business transactions, its clients rely on the firm to guide them through all of their legal needs. With 1,200 lawyers in 19 offices, Morgan Lewis offers seamless service across practice areas, no matter where the clients reside.

Steven C. Graham
Steve founded Graham Partners in 1988 and oversees all of the activities of the fund, including transaction sourcing, structuring, negotiation and divesting, working with portfolio companies, and handling relationships with the fund's limited partners. Steve was previously a member of the Management Committee of Graham Packaging Company, serving as Senior Group Vice President, Capital Allocation and Risk Management. Prior to founding Graham Partners in 1988, Steve worked in the Investment Banking Division of Goldman, Sachs & Co. in New York, and as an Acquisition Officer for the RAF Group, a private equity investment group in the industrial sector headquartered in Philadelphia, Pennsylvania. Steve currently serves as a director of Western Industries, National Diversified Sales, HB&G Building Products, Nailite International, Dynojet, Supreme Corq, ICG Commerce and was a director of Eldorado Stone, prior to its sale.

Steve earned his B.A. with a double major in Philosophy and English from Williams College where he was a three-sport varsity athlete (tennis, track and skiing) and captain of the downhill ski team, and his M.B.A. from Dartmouth College's Amos Tuck School of Business.

About the company: Graham Partners is a private equity firm based in suburban Philadelphia that focuses on acquiring and investing in privately held middle-market industrial companies. Since the firm's founding in 1988, Graham Partners has closed over $3 billion in acquisitions, joint ventures, financings and divestitures and has had first-hand involvement in the operations of companies in numerous different manufacturing sectors.

Richard M. Horowitz
Richard M. Horowitz has been employed by R.A.F. Industries, Inc., a private equity firm since 1991. RAF’s portfolio currently contains fourteen operating businesses. He currently serves as their president and chief operating officer. Mr. Horowitz is responsible for day-to-day operations and leads the RAF team that evaluates and consummates new acquisitions. He is also a principal in RAF Ventures, which provides venture capital to early stage, entrepreneurially -controlled companies. Prior to his tenure at RAF, Mr. Horowitz practiced corporate law at the Philadelphia law firm of Wolf, Block, Schorr and Solis-Cohen.

Mr. Horowitz is a director of a number of private companies, as well as a trustee of several non-profit organizations including the Wistar Institute, and the Children's Crisis Treatment Center. He also serves as Chairman of the Advisory Board of the University of Pennsylvania's Center for Community Partnerships.

Mr. Horowitz earned a J.D., magna cum laude, from Harvard Law School (1986) and a B.A., summa cum laude, in Economics and Political Science from the University of Pennsylvania (1983).

About the company: R.A.F. Industries, Inc. is a private investment company which acquires and manages a diversified group of operating companies and venture capital investments. RAF's mission it to develop and nurture world-class companies by combining entrepreneurial operating executives with RAF's seasoned corporate management team. Investments are made and portfolio companies are operated, for the very long term. Emphasis is placed on the optimal deployment and development of executive skills and capital resources. This operating philosophy, combined with the strength of its management team and the depth of its financial resources, uniquely positions RAF Industries to create win-win situations for motivated entrepreneurs.

Russel E. Kaufman, M.D.
Russel E. Kaufman, M.D., became the seventh president and CEO of The Wistar Institute in June 2002. In addition to his administrative duties, Dr. Kaufman also maintains an active research program at the Institute, investigating the genetics of blood diseases and cancer. Prior to his arrival at The Wistar Institute, Kaufman was vice dean for education and academic affairs for the Duke University School of Medicine and associate vice chancellor for academic affairs for the Duke University Health System. He was a professor of medicine and biochemistry at Duke.

With long-standing interests in both basic and applied cancer research, Kaufman has served as a scientific advisor in these areas to the National Institutes of Health, the American Cancer Society, and a number of other organizations. He has received awards for his work from the March of Dimes, the Arthritis Foundation, and others. He was named a Scholar of the Leukemia and Lymphoma Society of America, one of that organization's most prestigious awards. He was also tapped as one of the first Searle Scholars. The Searle Scholars Program supports top-flight academic research in biomedicine and chemistry.

Kaufman has extensive experience in national leadership roles in research and medical organizations. He served as president of the Association of Subspecialty Professors and chair of the Association of Hematology and Oncology Program Directors. He has been active in many internal medicine organizations, including the American Board of Internal Medicine and the Federated Council of Internal Medicine. He has served on several taskforces at the Association of American Medical Colleges.

At Ohio State University, Kaufman majored in zoology and biochemistry, graduating with a B.S. in 1968. He attended Ohio State University's College of Medicine and was awarded his M.D. in 1973, after which he moved to Duke University Medical Center for his medical residency, beginning a long affiliation with Duke, as a clinician, researcher, and administrator.

At Duke, he led a restructuring of its clinical research infrastructure, which has been acknowledged as a national model. He is often called upon by national organizations to participate in discussions concerning human-subject protections in clinical trials and the need for appropriate balances between academic and commercial interests to maintain the integrity of the research process.

About the company: The Wistar Institute has been dedicated to expanding the boundaries of our knowledge of biology and medicine for more than a century. Founded in 1892 as the first institution of its kind devoted to medical research and training in the nation, the Institute has evolved from its beginnings as an anatomical teaching museum to its present-day status as an international leader in basic biomedical research. In 1972, The Wistar Institute was designated a National Cancer Institute Cancer Center in basic research-a distinction it holds to this day.

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