The Novitas Team

Paul J. Schmitt

Managing Director

610-254-4286 pschmitt@novitascapital.com

Mr. Schmitt joined Novitas Capital as a Managing Director in 1999 and is focused on Life Sciences investments. A former Chief Executive of three different life sciences and healthcare companies, Mr. Schmitt brings extensive operating experience to the fund. In addition, he has raised in excess of $100 million through private placements, an initial public stock offering, joint ventures and corporate partnerships.

Previously, Mr. Schmitt was Chairman, President and Chief Executive Officer of Chrysalis International Corporation (Nasdaq: CRLS). Chrysalis was formed in 1996 through the merger of DNX Corporation and BioClin International. Chrysalis was a leading supplier of pre-clinical and clinical drug development services, including the utilization of transgenic animal science technologies to identify and validate new human genetic targets of disease emerging from worldwide genomic initiatives. Chrysalis' clients included over 250 biotech and pharmaceutical industry companies in 26 countries. In April 1999, Chrysalis was merged with Phoenix International, Inc. (Nasdaq: PHXI).

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