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Magellan Labs CEO Joins Southern Capitol Ventures Board

RTP Executive to Help Lead Fund's Life Sciences Investments

RESEARCH TRIANGLE PARK, NC - Southern Capitol Ventures, an RTP based venture capital firm, announced today that Dr. Al Childers, CEO of Magellan Laboratories, has joined its advisory board. Formed in 1991, Magellan Laboratories is one of the largest full-service pharmaceutical contract laboratories in the Southeast. Magellan Laboratories has been named to the "North Carolina Technology 50" every year since 1996.

"We are strongly committed to this region and are working to support promising new life science companies," said Ben Brooks, Managing Director of Southern Capitol Ventures. "Al Childers is very well respected within the life sciences industry and will add tremendous depth to our organization."

Earlier this year, Southern Capitol Ventures announced that it had received the endorsement of the North Carolina Biotechnology Center (www.ncbiotech.org). In addition to having access to the Center's vast resources, Southern Capitol Ventures has received financial support. The NC Biotechnology Center, which is based in Research Triangle Park, is the nation's first state-sponsored initiative to develop the biotechnology industry.

"With support from the NC Biotechnology Center and strategic alliances in place with many well respected venture capital and financial firms, Southern Capitol has created a national network to locate exciting investment opportunities in the RTP region and across the Southeast," said Dr. Childers. "We are very focused on locating early stage investments in companies making advances in genomics, proteomics, computational chemistry, biosurgery, as well as a wide variety of other life science applications."

Through leading organizations like the NC Biotechnology Center, the North Carolina Biosciences Organization, and the Council for Entrepreneurial Development, Research Triangle Park has become known across the country for its depth and quality of life science activities. RTP is the United States headquarters of GlaxoSmithKline, one of the world's largest pharmaceutical companies, as well as the home to both established and early stage life science/biotechnology firms including Biogen, Merix, Cogent, and StemCo.

About Dr. Childers:
Dr. Alfred G. Childers is co-founder and President of Administration at Magellan Laboratories Incorporated. Magellan provides the pharmaceutical and biotechnology industry with a full range of CMC services to help accelerate the drug development process. Through his many years of pharmaceutical industry experience, including prior positions at Glaxo, Inc. and The Upjohn Company, Dr. Childers has learned the needs of the industry, witnessed its trends and with the creation of Magellan, helped to lead the way in the growth of the Contract Research Organization arena. Dr. Childers received his Ph.D. in Analytical Chemistry from Indiana University under the direction of Dr. Gary M. Hieftje and his B.S. in Chemistry from Furman University. Dr. Childers is active in several community and industry organizations, and has consistently held committee and discussion group positions with the American Association of Pharmaceutical Scientists (AAPS) since 1985. Dr. Childers has also published over 50 articles and presentations in the area of pharmaceutical and analytical science.

About Magellan Laboratories:
Magellan Laboratories was founded by Alfred G. Childers, Ph.D. and W. Lowry Caudill, Ph.D. to deliver a complete range of drug development services at the highest level of scientific excellence to the pharmaceutical and biotechnology industry. Through its ten years of service, Quality, Timeliness and Communication have remained Magellan's core values. With seven divisions and 500 employees, Magellan dedicates its strengths to the common goal of helping pharmaceutical accelerate product development and helping to improve the quality of human life. Among the services Magellan's divisions provide are analytical testing, inhalation, stability testing and storage, pharmaceutics, clinical supply operations, synthesis, drug discovery, bioanalysis, microbiology, biotechnology, raw materials analysis, and structural chemistry. Magellan provides these services at both its RTP, NC and San Diego, CA locations to better serve its clients.

About Southern Capitol Ventures:
Southern Capitol Ventures (www.southerncapitolventures.com) receives technical and financial support from the North Carolina Biotechnology Center and provides venture capital and consulting services to emerging growth companies across the Southeast. Through strategic alliances with Capital Investment Companies, The Atlantis Group, and truePilot, Southern Capitol has developed a network of angel investors, investment banking firms, industry professionals, and venture capitalists. For more information please call 919-858-7580 or email info@southerncapitolventures.com.


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