HEALTHCARE ROYALTY PARTNERS

John A. Urquhart is a Senior Managing Director and Investment Committee member at HCRx, where he leads the firm's New England activities including transaction sourcing and structuring. He has over a decade of healthcare investing experience in the royalty and debt markets, and has worked on 21 investments since 2012, serving as lead on 13 of them. Before joining HCRx in 2007 as HCR's first employee, he was an investment banking analyst at Cowen and Company, and he holds a BA from Brown University and an MBA from The Wharton School.

Andrew Logerfo is a Vice President at HCRx, where he supports transaction-related activities such as financial analysis, transaction structuring, and due diligence, and contributes to business development. He previously worked in the healthcare investment banking group at BMO Capital Markets, focusing on M&A and capital raising for biopharma companies. He holds an MBA from Columbia Business School and a BA in Government from Georgetown University.

Carlos M. Almodóvar is Chief Business Officer at HCRx, where he leads the firm's fundraising and supports strategic initiatives. He previously worked in business development at Strategic Value Partners, an alternative investment firm focused on distressed debt, and served as an associate director at UBS raising capital for external private fund managers, having started his career as an analyst in Lehman Brothers' real estate investment banking group. He holds a BS from Cornell University.

Christopher A. White is President, CFO, and a member of the Investment Committee at HCRx, which he rejoined in 2015 after previously serving on the committee as a Cowen, Inc. representative from the firm's inception through 2011. His responsibilities include the firm's origination and sourcing function as well as strategic and operational aspects of the business. Earlier in his career he was managing director and head of investment banking at Janney Montgomery Scott, held senior management roles at Cowen, and worked at Salomon Smith Barney and as a securities and M&A lawyer. He holds a BA from Amherst College and a JD from the University of Michigan Law School.

David Oron is an Analyst at HCRx, where he supports transaction-related work including financial analysis, transaction structuring, due diligence, and business development. He previously worked as a strategy consultant at Putnam, advising biopharma clients on commercial and access strategy. He holds a BS in Biomedical Engineering from Cornell University.

Eric Yoo is a Vice President at HCRx, where he mainly supports research and also contributes to business development and transaction work such as financial analysis, transaction structuring, and due diligence. He previously was Director of Research & Investments at DRI Healthcare (DRI Capital), a biotechnology equity research analyst at Stifel Europe in London covering European SMID-cap biotech, and an investment analyst at Third Eye Asset Management. He holds a PharmD and a BSc from the University of Waterloo.

Evan Bograd is a Vice President at HCRx, where he supports transaction-related activities such as financial analysis, transaction structuring, and due diligence, and participates in business development. He previously worked in the healthcare investment banking practices of Bank of America and Mizuho, focusing on M&A and capital raising for biopharma companies. He holds a BA in Economics from Pomona College.

Jason Dorr is an Associate at HCRx, where he primarily supports research efforts and contributes to business development and transaction work including financial analysis, transaction structuring, and due diligence. He previously worked as a biotechnology equity research associate at Oppenheimer & Co., covering SMID-cap equities in endocrinology, immunology, and orphan diseases, and as a consultant at L.E.K. Consulting advising biotechnology companies. He earned a PharmD from Rutgers University.

Max Serrano-Wu is an Analyst at HCRx, where he supports transaction-related work such as financial analysis, transaction structuring, and due diligence, as well as business development. Before HCRx, he worked in life science consulting at Trinity Life Sciences, advising biopharmaceutical clients on commercial strategy, market opportunity, competitive landscape, market access, and brand growth. He holds a BA with Honors in Human Developmental and Regenerative Biology from Harvard College.

Sean M. McMerriman is a Fund Accountant at HCRx, where he supports the finance and accounting team. He previously worked as a Senior Fund Accountant at Littlejohn & Co., handling accounting for select private equity and distressed funds, and before that as a Senior Assurance Associate in the Asset and Wealth Management group at PricewaterhouseCoopers LLP. He holds a BS in Accounting and Finance from Fairfield University.

Shin W. Kang serves as Chief Scientific Officer and Head of Research at HCRx, where he leads research efforts and sourcing tied to universities, research institutions, and inventors, having joined in 2015. Before HCRx, he was a vice president of equity research covering biotechnology at Wells Fargo Securities and previously handled technology, intellectual property, and business development at the Mount Sinai School of Medicine. He holds a PhD in Biological Chemistry/Immunology from UCLA, an MBA from Columbia Business School, and a BS from UC Davis, and completed a postdoctoral fellowship at Genentech.

Spencer H. Schneider is Chief Compliance Officer and Chief Patent Counsel at HCRx, where he built the firm's compliance program, oversaw its SEC registration as an investment adviser, and handles intellectual property matters within the transaction team. He is a registered patent attorney who previously served as a principal at Speyside Capital Advisors and as a senior lawyer in the IP groups of Dewey & LeBoeuf, Ropes & Gray, and Cooper & Dunham. He earned a BA in Biology from Columbia College, an MS in Biochemistry and Molecular Biology from New York Medical College, and a JD from Cardozo School of Law.

Thomas K. Conner is Chief Accounting Officer and Treasurer at HCRx, where he oversees accounting and finance matters including reporting, financial statement and tax preparation, and cash management. Before HCRx, he spent over twenty years at Cowen & Company, serving as chief financial officer until its merger with Ramius and later as chief operating officer of investment banking, after starting his career at Deloitte Haskins & Sells in 1983. He holds a BBA from the University of Massachusetts, Amherst and is a Certified Public Accountant licensed in New York.

Tolly Flinn is a Senior Associate at HCRx, where she supports the firm's strategic and business development activities. She previously worked in investment banking at Centerview Partners, focusing on M&A and strategic advisory work for companies across industries. She holds a BA in Economic and Social History from Barnard College, Columbia University.

Warren D. Cooper is Chief Medical Officer at HCRx, where he also heads the Portfolio Management Committee and chairs the Senior Advisor Board, having previously advised the firm. A UK-trained physician with a background in cardiology and cardiac surgery, he spent 12 years at Merck, ultimately leading worldwide clinical research operations for Merck Research Laboratories, and later ran the cardiovascular business division at AstraMerck (now AstraZeneca). He was founding CEO of Prism Pharmaceuticals, which was sold to Baxter International, and holds degrees in physiology, medicine, and surgery from The London Hospital (University of London).

Yichen Wang is a Vice President at HCRx, where she primarily supports the firm's research efforts and contributes to business development and transaction activities such as financial analysis, transaction structuring, and due diligence. Before HCRx, she worked as a life science strategy consultant. She holds a PhD in Molecular Biology and Genetics and an MBA from the University of Delaware, and earned her MD as a trained ophthalmologist from Capital Medical University in Beijing, China.