Attendees: G. Abbi, W. Baxter, S. Chien, J. Dobak, I. Famili, D. Gough, E. Hickman, M. Konno, R. Lieber, I. Lorenzen-Schmidt, A. Paau, J. Penhune, L. Phillips, M. Radomsky, M.Sekins

Approval of Minutes from 02/22/00 meeting: Approved as submitted.

Presentation on INNERCOOL therapies, Inc. by Dr. John Dobak: Dr. Dobak along with Professor Juan Lasheras, Chairman of the UCSD Mechanical and Aerospace Engineering Department, founded the San Diego-based INNERCOOL therapies, Inc., in early 1998. INNERCOOL developed a heat transfer catheter for the management of hypothermia. The Company has raised $13.35 Million from the prestigious venture capital firms Kleiner Perkins, Institutional Venture Partners, and Technology Partners.
INNERCOOL's platform technology (Celsius ControlTM) can be used to both induce and reverse hypothermia. The technology is a vascular catheter system that exchanges heat directly with the blood flowing in the vessels of the body. This results in cooling or re-warming of the downstream organs and body. Importantly, INNERCOOL's technology does not require fluids to be perfused into the body, nor does it require blood to be circulated outside of the body. The cornerstone of the technology is a novel heat exchanger that resides at the tip of the catheter. Dr. Dobak and Dr. Lasheras collaborated on a design that incorporates unique elements to make the metallic part highly flexible and to enhance the heat transfer. INNERCOOL's proprietary platform technology can be employed in a variety of clinical situations where cooling or re-warming is indicated. The technology has significant advantages over surface heat transfer methods, such as cooling/warming blankets, which are cumbersome to administer, difficult to control, and have limited speed and efficacy.
INNERCOOL is becoming the world leader in hypothermia management with an annual U.S market potential estimated at 1.5 billion dollars. The Company is developing, manufacturing, and marketing vascular catheters that rapidly and safely induce and reverse hypothermia (i.e. cool or re-warm). A growing base of animal and clinical research shows that induction of mild hypothermia during periods of ischemia, such as occurs during stroke or heart attack, can protect tissue from ischemic damage in a way analogous to icing a sprained ankle. Conversely, hypothermia that develops incidentally during surgery can be detrimental by causing increased infection rates, more blood loss, and higher mortality.
INNERCOOL has catheters that can be delivered to both the arterial and venous system and is the only company capable of addressing both modes of delivery. Venous catheters are used to induce rapid core body hypothermia and to reverse hypothermia. Arterial catheters are designed to provide isolated, or selective, cooling/re-warming of organs, such as the brain (or even a hemisphere of the brain).
INNERCOOL has completed animal testing of the device and will commence human clinical trials for neurosurgical applications in first half of this year. Ultimately the Company plans to develop the technology as a therapy for stroke and heart attack. INNERCOOL plans its IPO in 2003.

Introductions:
Dr. Chien welcomed Walt Baxter of Medtronic, Inc., and thanked him for coming down from Santa Ana.

Update on Current Events:
Dr. Chien gave a brief description of the progress of the Powell-Focht Bioengineering Building which has been made possible by the generous support by the Whitaker Foundation Leadership Award and the Powell Foundations gift, totaling $26.2 million. The new building is progressing very well and there will be a groundbreaking event on August 9, 2000 in the afternoon. The fund raising goal for the Y.C. Fung Auditorium, housed in the Powell-Focht Bioengineering Building, has nearly matched the most generous gift of $150K donated by Dr. and Mrs. Ernest Huang of San Diego. Currently there is a new fund raising goal for the B.W. Zwiefach Library, which will also be part of the new Bioengineering building. The Library is being named in honor of the late Benjamin W. Zwiefach, Professor of Bioengineering, who together with Dr. Y.C. Fung founded the UCSD Bioengineering program. The University and the Jacobs School of Engineering are initiating a fund-raising campaign to meet the remaining needs of the construction costs. Dr. Chien gave a brief review of a new UC initiative to create a Multi-campus Research Unit (MRU) with the existing Bioengineering programs in eight UC campuses. With the combined strength of the eight campuses, funding for Biomedical Engineering research will dramatically increase.

The next Industrial Advisory Board Meeting will be October 5, 2000 from 7:30a.m. - 9:00a.m.

Respectfully submitted: Elizabeth Hickman