Stephen Davis has over 20 years of biotechnology and pharmaceutical experience. Mr. Davis is presently chief operating officer of A.P. Pharma, Inc. He served as chief operating officer of Ardea Biosciences, Inc. from 2010 until it was acquired by AstraZeneca PLC in 2012. From 2008 to 2010, Mr. Davis was president and chief executive officer of Neurogen Corporation, which was acquired by Ligand Pharmaceuticals in 2009. Previously, he served as Neurogen’s chief operating officer from 2005 to 2008, executive vice president from 2001 to 2005 and vice president of finance and chief financial officer starting in 1994. From 1990 to 1994, Mr. Davis was employed by Milbank, Tweed, Hadley & McCloy LLP as a corporate and securities attorney.