Edward M. Rudnic, Ph.D., President & CEO of Advancis Pharmaceutical Corporation, gave a summary of his company's technology to improve the effectiveness of the delivery of antibiotics through the Pulsys Delivery System. He also described the company's business history, capitalization and governance strategies, with an eye to the techniques that best serve the growth and development of drug discovery companies. Geof Faux of Harpeth Capital, Atlanta, Georgia, also gave an update on the status of capital financing for biotech companies and effective strategies for obtaining capitalization.