William I. Higuchi, Ph.D (Chairman, Board of Directors) is a Distinguished Professor of Pharmaceutics in the Department of Pharmaceutics and Pharmaceutical Chemistry at the University of Utah. Dr. Higuchi received a BA from San Jose University and a PhD in Chemistry from the University of California at Berkeley. Along with graduating more than 100 PhD students, Dr. Higuchi has authored more than 400 peer-reviewed papers and book chapters in the area of pharmaceutics and is a world renowned leader in the field of drug delivery. Dr. Higuchi recently has served as the Editor for the International Journal of Pharmaceutics and as the Editor of The Journal of Pharmaceutical Sciences plus he also actively participates in numerous scientific societies. Dr. Higuchi co-founded TheraTech, Inc. in 1985, which eventually was sold to Watson Pharmaceuticals for about $350 million. Dr Higuchi continues to serve as technical and business consultant and thought leader for numerous pharmaceutical companies. Dr. Higuchi most recently was the recipient of the prestigious "Order of the Rising Sun" awarded by the Japanese Government.

Mahesh V. Patel, Ph.D (President and CEO) has more than 20 years of technology and product development experience in the area of drug discovery support, drug delivery and product line extensions. Prior to co-founding Lipocine in 1997, Patel led drug delivery research and development at Pharmacia and Upjohn, Kalamazoo, MI. He received his MS in Physical Pharmacy at the University of Cincinnati and his PhD in Pharmaceutics from the University of Utah. His areas of expertise include strategic planning, technology assessment/development, technical management and product research and development.

John W. Higuchi, MBA, is President and CEO of Aciont Inc. an ocular therapeutics company in Salt Lake City, UT. Higuchi has more than 16 years of experience in the area of product and technology licensing, finance and marketing management, public policy (in areas of biotechnology, health care research and education) and research and development experience in start-up companies specializing in drug delivery. From 1997 to 2003, Higuchi served as VP of Business Development and Corporate Treasurer for Lipocine. Higuchi also has worked for the American Chemical Society. He received his BS degree in Chemistry at Hope College and his MBA and Master of Science in Information Systems from The George Washington University.

Gordhan Patel, R.Ph (Secretary, Board of Directors) is a successful entrepreneur, pharmacist and co-founder of several technical companies in the Chicago, IL, metropolitan area. Some of his ventures include specialty companies such as American Standard Circuits, American Powder Coatings, Inc., AmeriCoats, a division of Coatings International, Inc., American Precision Machining, Inc., Kleer Pak Manufacturing Inc. and Moffat Wire Products, Inc. He also founded Franklin Discount Drugs.