Nancy Munder Gray Named Vice President of Corporate Development at Southern Research Institute

BIRMINGHAM, Ala., June 13, 2007 /PRNewswire-USNewswire/ — Southern Research Institute — a not-for-profit organization that conducts basic and applied research in the areas of preclinical drug discovery and drug development, advanced engineering, environmental and energy production — today announced the appointment of Nancy Munder Gray, Ph.D. to vice president of corporate development. Gray will lead Southern Research’s efforts to evaluate and pursue corporate development opportunities including mergers and acquisitions, strategic alliances, joint ventures, minority investments, technology licenses, and divestitures.

“Nancy’s appointment represents another key step Southern Research is taking to expand business development efforts in emerging growth areas. She is a proven industry leader who brings more than 25 years of experience in the pharmaceutical industry,” said John A. “Jack” Secrist, III, Ph.D., president and CEO of Southern Research. “Her extensive experience in corporate development activities, combined with her industry expertise, is a valuable asset as we explore new areas of opportunity in line with our short-term and long-term growth objectives.”

Most recently, Gray was a business development consultant at Beijing Med- Pharm Corporation and was responsible for negotiating license agreements and identifying portfolios of in-licensing candidates in oncology and women’s health for introduction into the Chinese market. Prior to Beijing Med-Pharm, Gray was vice president of corporate development and operations at VaxInnate Corporation where she headed up business development, intellectual property, finance and accounting, human relations, public relations and business operations.

She has also served as vice president and general manager and vice president of corporate development at Delsys Pharmaceutical, a division of Elan Corporation. In addition, Gray has experience with Pharmacopeia, Inc., Cubist Pharmaceuticals, Inc. and Sepracor, Inc. Gray earned a Bachelor of Science degree in chemistry from and a doctoral degree in medicinal chemistry from the University of Illinois Medical Center.

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