AspenBio Pharma Inc.

Richard G. Donnelly was elected President, Chief Executive Officer and as a director, in January 2005. From September 1999 to December 2004, Mr. Donnelly served in senior marketing positions with Heska Corporation, including most recently as Senior Director of Marketing. From January 1993 to September 1999, Mr. Donnelly served as Director of Marketing for the Fort Dodge division of Wyeth Inc., (American Home Products). Mr. Donnelly holds a three-year diploma in Animal Science from St. Lawrence College.

Jeffery McGonegal became Chief Financial Officer of the Company in June 2003 and served as interim President in December 2004 and January 2005. Mr. McGonegal also serves as Chief Executive Officer and Chief Financial Officer of Security With Advanced Technology, Inc. (Nasdaq: SWAT), a publicly held provider of hardware and software security related products, Mr. McGonegal also serves as Senior Vice President Finance of Cambridge Holdings, Ltd., a small publicly held company with limited activities. Since 1997, Mr. McGonegal has served as Managing Director of McGonegal and Co., a company engaged in providing accounting and business consulting services. From 1974 to 1997, Mr. McGonegal was an accountant with BDO Seidman LLP. While at BDO Seidman LLP, Mr. McGonegal served as managing partner of the Denver, Colorado office. Mr. McGonegal was elected in 2005 to serve on the board of Imagenetix, Inc., a publicly held company in the nutritional supplements industry. He received a B.A. degree in accounting from Florida State University.

David E. Welch became a director of AspenBio Pharma as of October 1, 2004. Mr. Welch has served as Vice President and Chief Financial Officer of American Millennium Corporation, Inc., a public company located in Golden, Colorado, since April 2004. In January 2007, Mr. Welch was also elected as a director of Security With Advanced Technology, Inc. He also is a self-employed financial consultant. From July 1999 to June 2002, Mr. Welch served as Chief Financial Officer, Secretary and Treasurer of Active Link Communications, Inc., another publicly traded company. During 1998 he served as Chief Information Officer for Language Management International, Inc., a multinational translation firm located in Denver, Colorado. From 1996 to 1997, he was Director of Information Systems for Mircromedex, Inc., an electronic publishing firm, located in Denver, Colorado. Mr. Welch also serves on the Board of Directors of Communication Intelligence Corporation, a publicly traded company. He received a B.S. degree in accounting from the University of Colorado. Mr. Welch is a Certified Public Accountant, licensed in the state of Colorado.

Dr. Schoettler served as Colorado's Lt. Governor from 1995 to 1999. In 1997, she co-chaired the successful G-8 Summit of world leaders held in Denver, Colorado. She negotiated solutions to some of Colorado's toughest environmental problems and led a highly successful educational reform. From 1987 to 1995, Dr. Schoettler served two terms as Colorado State Treasurer and as a trustee of the Public Employees Retirement Association, the state's $24 billion pension fund. She was elected to two terms on the Douglas County Board of Education, serving four years as president, and was a trustee of the University of Northern Colorado. Currently, she sits on four non-profit boards, the Center for Women's Health Research at the University of Colorado, ProgressNow, Colorado Conservation Trust, and Gunnison Ranchland Conservation Legacy. Dr. Schoettler received her BA degree with honors in economics from Stanford University and her MA and PhD degrees in history from the University of California at Santa Barbara. She has founded two banks and continues to help run the California cattle ranch where she was raised and to manage several real estate partnerships. Among her many awards is the French Legion of Honor, France's highest civilian award, presented to her by French President Jacques Chirac. Ambassador Schoettler is married to Dr. Donald Stevens, Managing Director of the Institute for International Business at the University of Colorado at Denver. Together they have five children and live in Parker, Colorado. She recently conquered her great fear of heights and finished climbing all 56 of Colorado's 14,000 foot high peaks.