PRESS ARCHIVE

Tri-State Region’s Top Emerging Life Science and Technology Companies Announced

Collegeville, PA – May 2003 – As part of the 2003 Hi-Tech Pioneers program, Hale and Dorr, accounting and tax firm KPMG, and T. Williams Consulting, Inc. (TWC), announced Linguagen Corporation, Octagon Research Solutions Inc., and Quantiva Inc. as the tri-state region’s top emerging life science and technology companies. The first of a planned annual awards program, the Hi-Tech Pioneers program ranks the region's life science and technology companies based on uniqueness, market desirability, management team quality, funding and technological or market success.

"The region’s emerging life science and technology companies have proven that even during challenging economic times, our best and brightest companies continue to emerge and grow,” said David Sorin, partner–in–charge of Hale and Dorr's Princeton office. “It is essential that we continue to help build the infrastructure for two of our most critical elements for economic growth and advancement: the venture capitalists who finance emerging companies and the entrepreneurs with the vision and passion to create innovative, problem-solving solutions and products. Today we congratulate the winning companies on rising to the top of their business categories.”

This is the inaugural year for the Hi-Tech Pioneers program, which was jointly conceived and developed by Hale and Dorr, KPMG and TWC. The program is meant to give emerging companies and venture capitalists an important added edge: mutual direct contact on a targeted, selected basis. The judges were an independent panel of industry professionals.

“This event creates the venue to effectively bring the venture capitalist and the entrepreneur together,” said Brian F. Hughes, KPMG partner in charge of technology and life sciences in Philadelphia. “In a market where criteria for funding have increased, we are continuously working with our clients, not only to assist them in identifying sources of funding, but also to assist with services that can help contribute to their long-term success.”

The three award-winning companies were to make presentations on Tuesday to a group of leading venture capitalists at a private reception.

“We were very impressed with all of the applications we received,” said Terry Williams, president and CEO of TWC and co-founder of NextStage Advisors. “It’s clear that the area is rich with emerging companies that bring unique – and viable – products and services to the market. I was particularly impressed with the quality of the management teams, which all seemed to foster an unrelenting spirit of entrepreneurship in their organizations. I am very excited about the presentations.”

About Linguagen
Linguagen discovers, develops and commercializes superior, high-value ingredients that improve the taste of oral medications and consumer healthcare products, and enhance the flavor and nutritional value of foods and beverages. They are at the forefront of knowledge related to taste and flavor modification and apply proprietary technology to create superior solutions to problems of bitterness, excessive sugar and excessive sodium. Linguagen creates value through partnerships with leading corporations and research institutions. In January, they received a patent for bitter taste blockers and inn March, they announced an agreement with Perrigo Company to conduct research and development in the field of flavor discovery and modification. Most recently, Linguagen was awarded, ‘Most Innovative Product/Service,’ at the 2003 New Jersey Venture Fair. The company is led by Founder, Robert F. Margolskee, M.D., Ph.D. Linguagen can be reached at its headquarters in Cranbury, New Jersey at 609-860-1500 and on the Internet at www.linguagen.com.

About Octagon
Octagon Research Solutions (Octagon) was founded in 1999 as a Development Partnering Organization (DPO). They approach all drug development services with a focus on the end goal-an approved regulatory submission. Octagon’s staff has submitted more than 16 paper original NDA submissions and over 35 electronic submissions across multiple reviewing divisions and therapeutic areas to both national and international regulatory authorities. Octagon and the company CEO, Jim Walker, were nominated for the 2002 Enterprise Awards, ‘CEO Under Age 40’ and ‘Start Up Companies,’ respectively. Octagon is led by President and CEO, Jim Walker. The company can be reached at its headquarters in King of Prussia, Pennsylvania at 610-265-8300 and on the Internet at www.octagonresearch.com.

About Quantiva
Quantiva helps companies reduce IT costs while improving the online customer/business partner experience. They are taking a bold, new approach to web transaction management. The Quantiva product, Quantiva Analysis System (QAS), is the first commercially available solution to automatically diagnose web transaction behavior from the customer’s perspective. In April 2002, they appointed two key executives to the senior management team to create a combination of talent and experience. The New Jersey Venture Fair awarded Quantiva with ‘Best Information Technology Company’ for two years in a row. They were also named ‘Venture Capitalist’s Choice’ in the 2003 ceremony. They recently established a strategic alliance with Brix Networks to integrate real-time service assurance and performance management solutions. Quantiva is led by President and CEO Z. Alan Fink. The company can be reached at its headquarters in Princeton, New Jersey at 609-514-9540 and on the Internet at www.quantiva.com.

About TWC
TWC is a world-class management consulting firm that shapes companies to succeed. We provide a single point of contact for the outsourcing of critical needs, including Human Capital Solutions and Strategic Assessments. With the spin-off of our newest venture, NextStage Advisors, we help early-stage companies to gain market traction and secure much needed venture capital funding. Our track record is impressive and includes experience in Biotech, Energy, Financial Services, Information Technology, Optics, Pharmaceuticals, Telecommunications, and Wireless. For more information, please visit our websites at www.twilliams.com and www.NextStageAdvisors.com.

About Hale and Dorr
Hale and Dorr is nationally and internationally recognized for its experience in venture capital, initial public offerings, intellectual property and securities and intellectual property litigation. As a leading technology and life sciences law firm, we represent clients in numerous sectors including telecommunications, software, electronics, life sciences and medical devices. The firm’s full service practice also includes tax, commercial, labor and employment, real estate, environmental, government and regulatory affairs and private client services, and a strong commitment to public service dating from our founding more than eighty years ago. Hale and Dorr has more than 500 lawyers with offices in Boston, London, Munich, New York, Oxford, Princeton, Reston, Waltham and Washington. For more information please visit our website at www.haledorr.com.

About KPMG
KPMG LLP is the accounting and tax firm that has maintained a continuous commitment throughout its history to providing leadership, integrity and quality to the capital markets. The Big Four firm with the strongest growth record over the past decade, KPMG offers clients the scale, global reach, industry insights, and multidisciplinary range of services they demand. KPMG LLP (www.us.kpmg.com) is the U.S. member firm of KPMG International. KPMG International’s member firms have nearly 100,000 professionals, including 6,600 partners, in 150 countries.