NEWS RELEASE

CONTACT:
Jeff Cohen, Denmark Public Relations, (voice) 412-417-5984, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Dennis Yablonsky, Pittsburgh Life Sciences Greenhouse, (voice) 412-201-3425

Pittsburgh Life Sciences Greenhouse Attracts First Company,
Lands State Seed Funding

-- Life Sciences Venture Relocating to Region from State of Indiana
-- Commonwealth of Pennsylvania Seeds Greenhouse with $33.33 Million

Pittsburgh, April 3, 2002 - In a tremendous demonstration if its potential, the Pittsburgh Life Sciences Greenhouse, Inc. (PLSG), a partnership to put the region's life sciences industry on a fast track for growth, today announced two significant developments - it has attracted its first company and has secured $33.33 million in seed funding from the Commonwealth of Pennsylvania.

The PLSG is a partnership of the University of Pittsburgh, Carnegie Mellon University, the region's biotechnology industry, economic development organizations and state and local governments, formed to position the region as a global leader in biotechnology. The PLSG was established to provide a powerful catalyst for the region's life sciences sector, linking bioscience researchers and entrepreneurs, and improving their access to funding, leading edge laboratories and equipment, and market opportunities.

"Today marks a significant step both for the Pittsburgh Life Sciences Greenhouse and the future of the Pittsburgh region's life sciences industry," said Dennis Yablonsky, president and chief executive officer of the PLSG. "Not only have we secured the funding we needed from the Commonwealth of Pennsylvania so that we can begin to execute our plan, we have also attracted our first company, Renal Solutions.

"We're very grateful to Governor Schweiker, former Governor Ridge and other administration officials for their strong support of Pennsylvania's life sciences industry and their resounding confidence in the Pittsburgh Life Sciences Greenhouse. We look forward to building on and evolving this critical partnership and to working with others in the community to nurture and grow the region's life sciences industry."

Renal Solutions, Inc., (RSI) currently based in West Lafayette, Ind. is relocating to Western Pennsylvania to avail itself of the region's deep medical, research and business assets. The company has developed a self-contained, transportable kidney dialysis product that enables patients to self-administer dialysis therapy in the comfort of their own home without the need for a health care professional to be present, thereby improving the patient's clinical outcomes, quality of a life and reducing medical costs.

The company, which plans to be headquartered in the Thorn Hill Industrial Park in Warrendale, plans to create more than 150 local positions over the next three years.

"We're very gratified that Renal Solutions has chosen to relocate to the Pittsburgh region," said Scott Lammie, Executive Vice President, UPMC Diversified Services, which worked alongside the PLSG in attracting Renal Solutions to the region. "This is an affirmation of the Pittsburgh Life Sciences Greenhouse strategy and a testament to the tremendous resources and talent that the region's life sciences industry has to offer."

Peter M. DeComo, president and chief executive officer of Renal Solutions and a Pittsburgh native, praised the Greenhouse, UPMC Diversifed Services, and the region's entire life sciences community.

"I'm excited to be relocating Renal Solutions to Pittsburgh, and on a personal note, to be returning home," DeComo said. "The Pittsburgh Life Sciences Greenhouse may be a new initiative, but the region's underlying research, development and business infrastructure that life sciences companies need to be successful is established and thriving.

"Other regions have a head start on the development and promotion of their life sciences industry, but with the talent, energy and resources that I've already witnessed at the Pittsburgh Life Sciences Greenhouse, the area's universities and in the business community, the Pittsburgh region is well-poised to become a global life sciences leader. I look forward to being a part of the region's success."

PLSG Co-Chairman Mark A. Nordenberg, chancellor of the University of Pittsburgh hailed today's announcements.

"Last November I said that we need to move Pittsburgh forward exponentially, not incrementally," Nordenberg said. "Today's announcements are a considerable step in that direction. By providing the Pittsburgh Life Sciences Greenhouse with the funding necessary to be successful, the state has affirmed its commitment to the future of our region. By attracting its first company - and helping to relocate it to Pittsburgh - the Pittsburgh Life Sciences Greenhouse has already demonstrated that it will become a strong catalyst for the life sciences sector."

PLSG Co-chairman Jared L. Cohon, president of Carnegie Mellon University, said the life sciences partnership between industry, academia and government has quickly shown proof that it will be a "formidable catalyst in attracting biotechnology companies and in commercializing life science technologies in the Pittsburgh region.

"In a very short time, the Pittsburgh Life Sciences Greenhouse has demonstrated its robust capability for marshalling the region's resources. We are pleased that the state is as committed to this effort as we are. Carnegie Mellon is making an educational and financial commitment to enhancing its existing strengths in areas such as tissue engineering, medical robotics, biomedical engineering and brain imaging to support the Life Sciences Greenhouse and to help make southwestern Pennsylvania a global leader in the bioscience industry.

"By collaborating with our partners at the University of Pittsburgh, with biotechnology companies and with government leaders in the surrounding Pittsburgh area, we can together make a positive impact on society." Cohon said.

Yablonsky added, "Today's announcements represent the region's first steps down an exciting path. But we have a long way to go. I'm grateful for what has already been accomplished and look forward to continuing to work with the state, our local universities, and business and philanthropic communities to nurture and grow the Pittsburgh region's life sciences industry."

About the Pittsburgh Life Sciences Greenhouse
The Pittsburgh Life Sciences Greenhouse (PLSG) is a partnership of the University of Pittsburgh, Carnegie Mellon University, the region's life sciences industry, economic development organizations and government, formed to position the region as a global leader in biotechnology. It grew out of an original plan known as BioVenture developed by the University of Pittsburgh and Carnegie Mellon University to position the region as an international center in the biosciences. The PLSG is designed to accelerate the growth of the life sciences sector in the Pittsburgh region, focusing on: drug discovery tools and targets, medical devices and diagnostics, tissue/organ engineering and regenerative medicine, and therapeutic strategies for neurological and psychiatric disorders. For more information, contact Dennis Yablonsky at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

About Renal Solutions, Inc.
Renal Solutions, Inc. is an integrated medical device and healthcare service company dedicated to transforming the clinical care model for patients affected by End Stage Renal Disease ("ESRD") or chronic kidney failure. The RSI hemodialysis device is the convergence of two innovative technologies that, as an integrated solution, forms the basis of a revolutionary improvement over conventional hemodialysis technology for the home. This novel device including its sorbent chemistry technology will provide the catalyst to stimulate a major paradigm shift in the delivery of hemodialysis services, for the treatment of ESRD, from a clinic-based delivery model to a home-based delivery model. RSI's revolutionary products and services will help to improve the patients health, quality of life and aid in the reduction of the total cost of health care. For more information contact Pete DeComo at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

About UPMC and its Diversified Services Division
UPMC Health System, affiliated with the University of Pittsburgh Schools of the Health Sciences, is the leading integrated health care delivery system in western Pennsylvania, and one of the largest not-for-profit integrated health care systems in the United States. It meets comprehensive health care needs through UPMC hospitals -- the region's largest and finest network of tertiary, specialty, and community hospitals. Among the important products of the partnership between the UPMC Health System and the University of Pittsburgh is the University of Pittsburgh Cancer Institute (UPCI), a National Cancer Institute-designated comprehensive cancer center which is staffed by nationally and internationally recognized cancer specialists who engage in pioneering research and who treat more than 25,000 patients per year.

Through its Diversified Services Division, UPMC offers long-term care, staffing and management of emergency departments, in-home services, retirement living options, a mail-order pharmacy, a regional reference laboratory, durable medical devices, rehabilitation and occupational medicine services, technology transfer ventures, and international health care initiatives.

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