Ventures West Names Ken Galbraith General Partner

• Biotech veteran focuses on investments in seed and early stage life sciences companies.

Vancouver, BC - September 19, 2007 – Ventures West, one of Canada's largest private venture capital companies, is pleased to announce that Ken Galbraith has been named General Partner.

“Since joining our firm as Venture Partner in April 2007, we have been impressed with the way Ken has interacted with the venture community, our portfolio companies and the rest of the Ventures West investment team,” said Ted Anderson, Managing General Partner of Ventures West. “We believe that his background and experience is unique in Canada and will add immensely to our ability to source, and as importantly, add value to, investments in our life sciences practice.”

Mr. Galbraith is a very well known and active member of the North American life sciences community and has almost twenty years of experience as an executive, director and advisor to biotech companies. In 2006, He served as the Chairman and Interim CEO of AnorMED, a biopharmaceutical company focused on new therapeutic products in hematology, HIV and oncology, until its sale to Genzyme Corp. in a cash transaction worth almost US$600 million.

Previously, Mr. Galbraith spent 13 years in senior management with QLT Inc., a global biopharmaceutical company specializing in developing treatments for eye diseases and oncology, retiring in 2000 from his position as Executive VP and CFO. QLT is best known for its product Visudyne, used for the treatment of age-related macular degeneration (AMD) in more than 75 countries around the world, with peak sales in 2005 of approximately USD $500 million.

"I have been very impressed with Ventures West’s breadth of experience, established network, and commitment to the entrepreneurial teams in which they invest," Galbraith said. "I'm delighted to have the opportunity to contribute to the continued success of the Ventures West portfolio.”

Mr. Galbraith was a founding Director of the BC Biotechnology Alliance and served as Chairman of the Canadian Bacterial Diseases Network, one of Canada’s federally-funded Networks for Centers of Excellence (NCE). He was also a Director of the Michael Smith Foundation for Health Research and the Fraser Health Authority. He currently serves on the Board of Directors of the Vancouver Aquarium Marine Science Centre, one of the world’s leading aquariums.

Mr. Galbraith will be serving as the Ventures West representative on the Board of Directors of Alder Pharmaceuticals, Aquinox Pharmaceuticals, OncoGenex Technologies and Presidio Pharmaceuticals.

Ventures West has invested over $130 million in the Life Sciences sector over the last decade. Recent investments include Aquinox Pharmaceuticals, Celator Pharmaceuticals, NeurAxon Inc., and Presidio Pharmaceuticals.

About Ventures West
Ventures West Capital Ltd., a private venture capital investment group, is one of Canada’s leading investors in early stage technology companies. Since its founding in 1968, Ventures West has formed eight venture capital funds which total over $700 million and has invested in more than 150 companies. Ventures West has the people, the expertise, and the capital to help entrepreneurs develop emerging technology companies into market leaders. For more information, visit www.ventureswest.com.

For More Information:
Christine Ramsay
Ventures West
cramsay@ventureswest.com
(416) 861-2280

Ken Galbraith
Ventures West
kgalbraith@ventureswest.com
(604) 891-3255