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ibiliti Adds Industry Veterans to Its Board and Management

Industries: Life Science

RALEIGH, N.C. (July 27, 2010) ibiliti™ (www.ibiliti-nc.com), North Carolina’s center of innovation for advanced medical technologies, announces the addition of Tim Gupton and Matt Jennings to its board of directors and Lawson Rankin as Treasurer. Tim Gupton, a partner with Hughes Pittman & Gupton, LLP (www.hpg.com), the largest CPA firm headquartered and staffed in the Research Triangle Park region of North Carolina, will chair the Audit Committee. Matt Jennings brings more than 25 years of experience in the medical technologies industry to ibiliti. Lawson Rankin is a partner with financial management firm Rankin McKenzie, LLC (www.rankinmckenzie.com).

“Tim, Matt and Lawson have unsurpassed records of entrepreneurship as well as a passion to grow the advanced medical technologies industry in North Carolina,” says J. Greg Davis, ibiliti chairman and CEO of Tryton Medical. “They join an exceptional group of thought leaders who will shape policy for our organization in its formative years.”

In addition to his work with HPG, Tim Gupton is CFO for Alphavax Inc. and Colucid Pharmaceuticals Inc., founder and general partner of Research Triangle Ventures and is on the board of NCBIO. With more than 35 years of public accounting experience including being a KPMG partner, he has served as the start-up CFO for seven biopharmaceutical companies in the Research Triangle area, as well as a financial adviser for Sicel Technologies, Inc. He is the former chairman of CED and is the co-author of FastTrac Tech, a business plan process sponsored by The Kaufman Foundation.

Matt Jennings is currently on the board of directors and executive committee for NCBIO and OmniGuide, and is the director and chairman of Ogenix. During his 25 years in the life science industry, he was the president of North America business for Teleflex Medical, one of North Carolina’s largest medical technology companies, as well as the CEO/president, director and a founder of Bioenterprise, an Ohio non-profit organization that promotes the advanced medical technologies industry. He began his career in sales with Monsanto, and has held senior leadership roles with Cardinal Healthcare and Baxter Healthcare. He has also served on the board of directors of SSI Surgical Services, the Cleveland Chamber of Commerce and the Northern Ohio Technology Council.

Lawson Rankin is an entrepreneurial financial executive with more than 31 years of multi-industry experience. As the president and CEO of Rankin McKenzie LLC, he offers seasoned entrepreneurial expertise, strategic financial leadership and executive management talent to companies of all lifecycle stages throughout the Southeast. A strategic chief financial officer specializing in promoting growth, he is responsible for overall financial management of companies, financial reporting and transparency, multiple corporate functions including controller, treasury, investor relations, long-range planning, as well as corporate and strategic development. He serves on the board of directors for NC IDEA, Polyglot and Southlight, a non profit organization, and is also the part-time CFO for HexaTech. Rankin previously served as the CEO of Lumberg, Inc.’s U.S. headquarters.

About ibiliti:

ibiliti is exclusively dedicated to the growth and support of North Carolina’s advanced medical technology community, including device, diagnostic, imaging and healthcare software companies. With more than 400 companies in this sector at all stages of development and commercialization, North Carolina is one of the fastest growing med tech hubs in the Southeast region and in the country. ibiliti, a non profit organization, provides a robust network of resources that links med tech entrepreneurs to the talent, funding and expertise they need to accelerate the development and commercialization of life-saving, cost-effective medical technologies. ibiliti’s programs rolling out in the fall include an expert on call program, grant writing services and a comprehensive network of service providers. ibiliti is funded through the North Carolina Biotechnology Center’s Centers of Innovation program, which focuses the state’s efforts in biotechnology research, development and commercialization in targeted industrial sectors important to economic development and job creation (www.ncbiotech.org/services_and_programs/COI/index.html). For more information about ibiliti, visit www.ibiliti-nc.com.