MADISON, WI - (February 5, 2009) –David C. Sneider, J.D. and C.P.A., has joined Nerites Corporation as Chief Financial Officer.

Mr. Sneider has more than twenty years of domestic and international experience in strategic aspects of finance, mergers and acquisitions, and risk management. Most recently, he was Chief Financial Officer of NimbleGen Systems Inc. NimbleGen was acquired by Roche Diagnostics for $273 million in 2007. Prior to NimbleGen, Mr. Sneider was Chief Financial Officer of Third Wave Technologies, where he led multiple rounds of financing and negotiated many corporate alliances. Third Wave was subsequently acquired by Hologic for more than $600 million. Mr. Sneider also served as Chief Financial Officer for Tellabs, Inc. (NASDAQ: TLAB), where he led its Initial Public Offering and secondary financing rounds.

“We couldn’t be happier that David has decided to join our firm,” commented Nerites CEO Thomas Mozer.  “This is a transitional moment for us, as we approach clinical trials for our first set of products.  With both corporate partnerships and private financing, our financial picture is becoming more complex.  David will provide an experienced hand to guide strategic growth and a commitment to responsible capital management in these difficult economic times.  His track record should be very comforting to investors.”

“I’m thrilled at the chance to contribute to the Nerites story,” stated Sneider.  “I have followed the company for several years as the technology has developed.  Now that Nerites is on the cusp of rapid growth, it seemed an opportune moment to increase my involvement.  I look forward to significant value creation in the near future.”  David C. Sneider holds a B.B.A. and J.D. from Loyola University of Chicago.  His C.P.A. was awarded by the University of Illinois.