MFIC Corp.

Mr. Ferrara joined the Company's Board of Directors in 2007. He was previously Chief Executive Officer and President of X-Rite Incorporated. Prior to X-Rite, Mr. Ferrara was CEO of Marine Optical Group, CEO of N.I. World Trade, a trading subsidiary of National Intergroup (formerly National Steel) and held positions of increasing seniority over an 18-year period at Westinghouse Electric Corporation. Mr. Ferrara has a B.S in electrical engineering from Villanova University and completed the Program for Management Development (PMD) at Harvard Business School.

Mr. Byczko was mostly recently the Director of Financial Operations and Development at Open Solutions, a leading provider of integrated computer systems and software for financial institutions around the world. Prior to Open Solutions, Mr. Byczko was a Senior Project Manager for Control Solutions International, a global provider of internal audit and risk management solutions, where he led a number of high-profile client engagements including CA, Hewlett-Packard and Bristol-Myers Squibb. Mr. Byczko has also served in senior management positions in the areas of financial reporting, acquisitions and treasury and practiced as a Certified Public Accountant with various national and regional accounting firms from 1989 to 1995. Mr. Byczko holds a B.S. in accounting and finance from Nichols College.

Dennis Riordan joined MFIC Corporation in 1996 as the Controller. Previously he served as the Controller for the Residential Group for Winthrop Management and in various positions as an Assistant Controller at Krupp Management, a real estate concern. Prior to that, Mr. Riordan spent twelve years in public accounting, primarily as an audit manager.

Eric G. Walters, CPA, Vice President & Chief Financial Officer joined CardioTech in October 2005 from a private technology company. From 1990 to 2003, Mr. Walters held increasingly responsible finance and management positions at PolyMedica Corporation where he was Executive Vice President and Chief Compliance Officer and earlier Chief Financial Officer. As a key member of PolyMedica's senior management team, he helped drive the growth of a $1 million revenue startup to a successful $350 million revenue public company, with a current $1 billion market capitalization. Prior to PolyMedica, he was Assistant Treasurer at John Hancock Capital Growth Management and Audit Supervisor at Coopers & Lybrand. Mr. Walters is a member of the Board of Directors of CorNova, Inc. and serves as Audit Committee chair of the Board of Directors of Microfluidics Corporation. Mr. Walters is a graduate of Colgate University and received his Certificate in Accounting from Bentley College.

Mr. Uveges joined the Company's Board of Directors in 2004. He is the Founder and Principal of the Tallwood Group. Prior positions include Past President/Chief Executive Officer of TranXenoGen, Chief Operating Officer of BioSource International, Senior Vice President/Chief Financial Officer of NEN Life Science and Chief Financial Officer/Vice President of Gelman Life Sciences. Mr. Uveges is also a member of the Board of Directors of Harvard Biosciences, Inc. Mr. Uveges serves as Chairman of MFIC's Nominating and Corporate Governance Committee.