CORPORATE HISTORY 2001 Won the Grand Prize in the first State of Michigan Great Lakes Entrepreneur’s Quest Business Plan Competition and $60,000 of prize money. Incorporated in Michigan and assembled management team to build on our patented technology and ability to rapidly isolate and analyze human bone cells. Negotiated exclusive license agreement with the University of Michigan; approved by the Michigan Regents 2002 Velcura Therapeutics, Inc. received approval for $3.3 million in funding from the State of Michigan to develop new and better therapies for osteoporosis, bone fractures and diseases. This award was based on a thorough science review by the American Association for the Advancement of the Sciences, and a business and competitive market review by the Michigan Life Sciences Corridor Steering Committee, Incorporated in Delaware as a Class C Corporation. Established and equipped Velcura Therapeutics’ corporate headquarters and laboratories. Hired senior scientists and researchers for the Osteoporosis target validation program. Established and funded a collaborative project with the University of Michigan Bioinformatics program, headed by David states, M.D., Ph.D. This project examines the genes involved in human bone formation. Established and funded a collaborative project with the University of Michigan Orthopedics Research laboratories, headed by Associate Dean Steve Goldstein, Ph.D. This project examines the role of mechanical forces in human bone formation. I-Street technology magazine names Velcura Therapeutics, Inc. one of the Midwest’s top emerging technology companies. University of Michigan Tech Transfer Office presents Velcura Therapeutics, Inc. with a commemorative plaque in recognition of the joint vision, dedication and teamwork involved in forming a University spin-off company.