LifeCycle Pharma, Inc.

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Mr. Bjørnstrup has been Chairman of the Board of Veloxis since April 2011. He has more than 20 years of working experience in the pharmaceutical industry. During the past 18 years, he has held various executive positions in the management team of the Octapharma Group and served 8 years as Vice Chairman. Prior to this, he has worked with Coloplast A/S and H. Lundbeck A/S.

The current market consists of Astellas Pharma Inc.'s Prograf (twice-daily) and generic equivalent tacrolimus products, as well as Astellas Pharma Inc.'s Advagraf (once-daily), which is currently marketed outside the United States and would likely be a key competitive product to Envarsus® in, specifically, countries within the European Union. In particular, major pharmaceutical companies such as Sandoz (a Novartis AG company), Accord Healthcare Ltd., Watson Pharmaceuticals, Inc., Dr. Reddy's Laboratories Ltd. and Mylan Laboratories, Inc. are active generic market participants in the immunosuppression market.

Prior to this, Ms. Agger was CEO of 7TM Pharma A/S, which she cofounded in late 2000, and from 1996 to 2000 she was part of the management team at NeuroSearch A/S, responsible for business development and licensing.

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