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James C. Powell Joins Nerites Board of Directors
Date:7/29/2008

MADISON, Wis., July 29 /PRNewswire/ -- James C. Powell, former President and Chief Operating Officer of SurModics Inc., has joined the Board of Directors of Nerites Corporation.

Under Powell's guidance, SurModics developed medical device coatings and consummated dozens of corporate partnerships to commercialize products. Powell joined SurModics in 1987 as the Director of Coatings Product Development; he helped lead the company's transition from a diagnostics kit manufacturer to a developer of surface modification technologies. In 1998, the company made its initial public offering (IPO) and Powell became President. He retired in 2003, at a time when the company's market capitalization reached $675 Million.

"We're extremely pleased to welcome Jim to Nerites," stated George Arida, Chairman of the Board of Directors. "His extensive experience forming profitable corporate partnerships with major medical device companies will be valuable to us. We're excited about the depth of expertise and relationships that Jim brings to our board as we begin working with corporate partners to commercialize our adhesives, sealants, and coatings for specific medical indications."

"Nerites is an exciting opportunity," stated Powell. "With strong management and a unique technology advantage, Nerites seems prepared for success. I'm looking forward to contributing my experience wherever it may be useful." James C. Powell holds a Bachelor of Science degree from Texas A&M University and a Master's degree from the University of Washington.

About Nerites:

Nerites Corporation develops fully-synthetic, water-resistant adhesives, sealants, and coatings for internal medical use. The hydrogel technology can be used to close internal tears or incisions, to seal tissues and prevent leakage and infection, and to affix synthetic or biologic medical devices. Properties can be "tuned" to fit each application. The technology was described with a cover article in the
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