ParAllele Press Release

PARALLELE NAMES NICK NACLERIO PRESIDENT

Tom Willis, Ph.D., Becomes Chief Scientific Officer as Company Expands Commercial Focus

"We are thrilled to have Nick join ParAllele," said Dr. Willis who led the search committee. "He has already made a tremendous contribution to the company as a consultant, playing a key role in establishing several strategic partnerships and pharmaceutical collaborations. I am looking forward to our partnership where I can concentrate more on the technical aspects of the company and learn from Nick's leadership on the commercial aspects. I would also like to thank Mostafa, who was instrumental to getting the company started and continues to be a source of innovative ideas."

"After helping the company refine its business model and establish its first corporate partnerships, I realized that the opportunity to join ParAllele was too good to pass up. ParAllele is an exceptional company with a portfolio of technologies that will transform genetics.," said Dr. Naclerio. "By harnessing biochemical processes from nature, ParAllele has achieved DNA analysis capabilities orders of magnitude beyond what is possible with laboratory automation. I am honored to be able to work with such a talented group of scientists and excited about the opportunity to help our partners make important healthcare discoveries."

"We are delighted to welcome Nick to the company and to the Board," said Jonathan MacQuitty, Ph.D., President and Director, Abingworth Management, Inc. and member of ParAllele's Board of Directors, "His commercialization and business building skills complement the visionary scientific team upon which the company was built."

Dr. Naclerio joins ParAllele with a combination of commercial and operations management skills for start up ventures and strategic perspective. Most recently, Dr. Naclerio served as an independent strategic consultant to a number of life science companies and venture capital groups, conducting projects focused on business development, marketing strategies, corporate partnerships, operational restructuring and fund-raising. Previously, he founded Motorola's Life Science business unit and led it through the commercial launch of its CodeLink(TM) microarray platform. Dr. Naclerio has served on the boards of several other life science companies including Orchid BioScience, Genometrix, and Clinical Microsensors and The SNP Consortium. Earlier in his career Dr Naclerio was an Assistant Director at the Defense Advanced Research Projects Agency (DARPA) and was responsible for investing in dozens of successful entrepreneurial companies. Dr Naclerio holds a Ph.D. from the University of Maryland, a Master's equivalent from the University of Cambridge, England and a Bachelor's degree from Duke University.

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