Osiris Therapeutics Inc.

C. Randal Mills, Ph.D., President and Chief Executive Officer, joined Osiris in July 2004. Dr. Mills is also a member of the Board of Directors. Prior to joining Osiris, Dr. Mills was an executive officer of Regeneration Technologies, Inc. (NASDAQ—RTIX). Dr. Mills served in several leadership positions at RTI from its formation in 1998 until 2004, including Vice President of Business Development and Vice President of Operations and R&D and is credited with several key initiatives including the development and commercialization of RTI’s core technology, BioCleanse®. Prior to RTI, Dr. Mills was a member of the founding management team of the University of Florida Tissue Bank, Inc. The University of Florida Tissue Bank was the predecessor company to RTI. Dr. Mills received a Bachelors degree in microbiology and cell science and a Ph.D. in drug development, both from the University of Florida.

Harry E. Carmitchel, Chief Operating Officer, joined Osiris in September 2004. Mr. Carmitchel has over 20 years of general management and operations experience in the medical field. Prior to joining Osiris, Mr. Carmitchel was a Principal with the Pacific Consulting Group for four years, where he specialized in corporate turnarounds. Prior to this time, Mr. Carmitchel was a General Manager with McQuay International, running a $410 million group, and spent eight years as President of the Medical Division for Stryker Corporation. Previously, he also served as Vice President of Operations and Vice President of Marketing for Everest and Jennings, Inc. Mr. Carmitchel earned a Bachelors degree in electrical engineering from the General Motors Institute and an M.B.A. from the University of Southern California.

Richard W. Hunt, Chief Financial Officer, joined Osiris in July 2008. Mr. Hunt spent 18 years in progressive finance leadership positions with Baxter Healthcare/American Hospital Supply. Following Baxter, Mr. Hunt was appointed Chief Financial Officer of Global Healthcare Exchange, an e-commerce venture formed by a group of leading healthcare companies including Johnson & Johnson, GE Medical Systems, Abbott, Medtronic, and Baxter. Mr. Hunt then served as CFO of Neighborcare, a publicly traded pharmaceutical service provider, until its $1.7 billion acquisition in 2005. Mr. Hunt also served as CFO of Healthextras, a $1.8 billion publicly traded pharmacy benefit management service provider. Mr. Hunt started his healthcare career with Searle Pharmaceuticals. Mr. Hunt is a certified public accountant, (CPA) and holds a Bachelor of Science degree in accounting from Northern Illinois University and a Masters in Business Administration from Pepperdine University.

Michelle LeRoux Williams, Ph.D., Chief Scientific Officer, joined Osiris in October 2001. Previously at Osiris, Dr. Williams served as Director of Orthopedics. In that role Dr. Williams was responsible for the development of Osteocel® from initial concept through market launch. In 2005, Osteocel became the world’s first commercially available stem cell product. Additionally, Dr. Williams advanced the Chondrogen™ program from preclinical testing through human clinical evaluation. Prior to joining Osiris, Dr. Williams completed an NIH postdoctoral fellowship in tissue engineering at Columbia University, evaluating cellular constructs for the repair and regeneration of cartilage in arthritis patients. Dr. Williams earned a Bachelors degree in mechanical engineering from Rice University and a Ph.D. in biomedical engineering from Duke University.

Dr. Gordon has nearly 30 years of research and management experience. His longest tenure was for 19 years as the Chief, Musculoskeletal Diseases Branch of the National Institutes of Health. In addition, for 6 years, he has been the Vice President of Osiris Therapeutics, a Biotech firm focused on cell-based tissue regeneration. Dr. Gordon holds a doctoral degree in Biomedical Engineering.

Peter Friedli, Chairman, is a co-founder of Osiris and, except for the period between February and June 2004, has been a director since January 1996. He has been a principal of the investment-banking firm Friedli Corporate Finance, Inc. since 1986. Friedli Corporate Finance, Inc., a leading Swiss venture capital firm, has made significant investments in the biotechnology industry. Friedli Corporate Finance, Inc. has been the primary source of financing for Osiris. Mr. Friedli is also President of New Venturetec Ltd., a Swiss publicly traded investment company. Mr. Friedli has extensive experience as an independent investment manager in venture capital and has specialized in investments domiciled in the United States in the areas of biotechnology and technology. Prior thereto, he worked in the field of international management consulting for service and industrial companies in Europe and the United States. Mr. Friedli is a director of E-centives, Inc., a publicly traded provider of interactive database marketing technologies and services. He also serves as a director in certain private companies.

Rodney L. Monroy, Ph.D., Senior Director, Prochymal™, joined Osiris in February 2003. Dr. Monroy has spent over 20 years in the area of cell therapy, stem cell research, and transplantation. Before joining Osiris, he was responsible for product development of the Eligix medical devices used in cell separation for stem cell transplantation and cellular therapy. He was a key contributor in the success of these devices receiving CE mark approval. Previously, Dr. Monroy was the Director of Cellular Immunology/Hematology at BioTransplant, Inc. where he was responsible for the development of products and assays to facilitate engraftment and tolerance induction for xenogeneic preclinical models and investigation of a therapeutic immunosuppressive monoclonal antibody. In addition, Dr. Monroy conducted research and led scientific teams at the Naval Medical Research Institute for 12 years in the area of transplantation and growth factor therapy using preclinical animal models. Dr. Monroy earned a Bachelors degree in zoology from Humboldt State University and a Ph.D. in Biochemistry from Case Western Reserve University.

As an executive at Drexel Burnham Lambert Inc. during the 1980s, Milken used high-yield junk bonds for financing and corporate takeovers. While his personal wealth was enormous, he spent two years in prison after pleading guilty to charges of securities fraud.

Jay M. Moyes, elected to the Board of Directors in 2006, has served as the Chief Financial Officer of Myriad Genetics, Inc. since June 1996. Mr. Moyes previously served as Myriad's Vice President of Finance from July 1993 until July 2005. From 1991 to 1993, Mr. Moyes served as Vice President of Finance and Chief Financial Officer of Genmark, Inc. Mr. Moyes held various positions with the accounting firm of KPMG LLP from 1979 through 1991, most recently as a Senior Manager. He holds an M.B.A. degree from the University of Utah, a B.A. degree in economics from Weber State University, and is a Certified Public Accountant. Mr. Moyes has also served as a member of the Board of Trustees of the Utah Life Science Association from 1999 through 2006.

Felix Gutzwiller, M.D., Dr.P.H., elected to the Board of Directors in 2003, is Professor and Chairman of the Department of Public Health at the University of Zurich Medical School. Dr. Gutzwiller is also an elected member of the Swiss Parliament. Dr. Gutzwiller received a medical degree from the University of Basel in 1974 and did his post-graduate training at both Harvard University and Johns Hopkins University. He received his Dr.P.H. from the Johns Hopkins University School of Hygiene and Public Health in 1977. Dr. Gutzwiller has received many honors and awards over the years in the health profession.

Hans Klingemann, M.D., Ph.D. is a Professor of Medicine and the Director of the Bone Marrow & Hematopoietic Stem Cell Transplant Program at Tufts University School of Medicine. Prior to his role at Tufts University, Dr. Klingemann was the Chief of the Bone Marrow Transplant and Cell Therapy section at Rush University Medical Center in Chicago where he built a nationally recognized program in hematopoietic cell transplantation. Dr. Klingemann is actively performing clinical research evaluating the therapeutic potential of mesenchymal stem cells. Dr. Klingemann is an international authority in the field of stem cell transplantation whose publications include over 150 original manuscripts, 15 book chapters, 9 books, and many editorials and reviews.

Martin Hauer-Jensen, M.D., Ph.D. is a Professor of Surgery and Pathology at the University of Arkansas Cancer Research Center. Dr. Jensen leads a team that investigates the basic mechanisms of radiation injury and developing strategies to prevent, reduce, or treat radiation injury. These studies provide insight into the basic pathogenesis of normal tissue radiation toxicity and help reduce the risk of radiation-induced side effects. Dr. Hauer-Jensen is a Project Leader and member of the Steering Committee for the Radiation Countermeasures Center of Research Excellence (RadCCORE) at Duke University and a reviewer and advisor for the Radiation Event Medical Management (REMM) group at the U.S. Dept. of Health and Human Services. He has served as member and chair of the radiation study section of the NIH.

Steven Bice served for 35 years with the Centers for Disease Control and Prevention (CDC). Mr. Bice served as the head of the Strategic National Stockpile (SNS) from its inception in 1999, until his retirement in 2005. Under his leadership, the SNS shipped more than 50 tons of emergency medical supplies to New York City within 7 hours of the terrorist attacks of September 11th. From 2001 until he retired, Mr. Bice led the rapid expansion of this program and other efforts that make up the backbone of U.S. defenses against biological attack. Mr. Bice also personally oversaw the establishment of the Emergency Operations Center for CDC. As Director of Emergency Operations, Mr. Bice managed continuous deployments of critical medical staff throughout the world to address medical emergencies including SARS, avian flu, and the tsunami in Southeast Asia. In 2005, Mr. Bice received the Services to America Medal for Homeland Security for his work at CDC.

Thomas J. MacVittie, Ph.D. is a Professor in the Departments of Radiation Oncology and Pathology at the University of Maryland, Baltimore, and has more than 30 years of experience as a radiobiologist. Dr. MacVittie is recognized internationally as an expert in radiation-induced effects on the hematopoietic and gastrointestinal syndrome system. He has published 135 peer-reviewed manuscripts and 42 chapters in books or proceedings. Dr. MacVittie is a member of the NIAID/FDA Medical Countermeasures Working Group (WG) as well as the CDC Strategic National Stockpile Radiation WG. He has served as an advisor to the WHO Collaborating Centers in Radiation Emergency Medical Preparedness and Assistance and as a member of NATO Radiation Research Study Groups. He is currently a member of the Editorial Board of the journal Stem Cells and serves as an Ad Hoc reviewer for numerous journals and NIH/NIAID and DoD grants and contracts.