CTP Board Names Chairman and Vice Chairman

FOR IMMEDIATE RELEASE - November 01, 2004

Chicago Technology Park Board Names William Cadigan as Chairman; John Partelow as Vice Chairman

CHICAGO - The Chicago Technology Park, Inc., (CTP) today announced that it has named William J. Cadigan as chairman and John E. Partelow as vice-chairman. The CTP is a joint venture of the Illinois Medical District (IMD), Rush University Medical Center, and the University of Illinois-Chicago that operates a business incubator building and multi-tenant technology park for emerging life sciences companies.

Cadigan and Partelow are also commissioners of the IMD, and Cadigan has served on the CTP board since 1999.

"This is an exciting time in the evolution and development of the CTP. As the life sciences industry continues to evolve in the Midwest, we will shift to a more proactive approach to the incubation and graduation of companies currently housed in the CTP and those that will soon enter it," said Cadigan. "I also look forward to working with UIC, Rush and the biotech community in Chicago to identify and actively recruit promising life sciences entrepreneurs to locate their companies in the CTP."

Cadigan succeeds Kenneth D. Schmidt, M.D., as chairman of the CTP. In addition to remaining a CTP director, Dr. Schmidt remains president of the IMD. The CTP operates as an IMD component agency with IMD statutory oversight.

About The Chicago Technology Park
The Chicago Technology Park is a 56-acre research park that fosters the commercialization of innovative technologies through state-of-the-art facilities and critical support services. The CTP is administered by the Illinois Medical District in partnership with the University Of Illinois and Rush University Medical Center. The CTP Research Center was one of the first biotechnology incubators in the U.S. and is still one of the largest. The CTP is currently home to 30 early- and mid-stage technology-driven companies. For more information visit www.techpark.com.

About the Illinois Medical District
The IMD is a public body charged with governing coordinated growth and enhancement of the specially designated 560 acre "district" on the near west side of Chicago. The District was created in 1941 by the Illinois General Assembly and is among the largest of its kind in the world. In addition to urban planning functions, the IMD directly operates the Chicago Technology Park and is redeveloping a 100-acre District Development area. For more information, visit www.imdc.org.

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