Michael Schmertzler

Mr. Schmertzler has served as a member of PTC’s board of directors since August 2001 and as the Chairman of the board of directors since November 2004. Mr. Schmertzler joined PTCs board after leading a Series A investment in the company as Co-Head of Credit Suisse First Boston Equity Partners. Mr. Schmertzler has been actively involved as senior manager of institutional private equity capital since 1986 serving first as President of the Morgan Stanley Leveraged Capital Funds and then Co-Head of Credit Suisse First Boston Equity Partners. He has taught private equity at Yale University since 1998. He is also currently the independent director of Lehman Commercial Paper, Inc., the largest subsidiary of the liquidating post-bankruptcy Lehman Brothers estate. From 2008-2012, Mr. Schmertzler was the founding CEO of a Yale sponsored biotechnology spin off and has been a founding investor and director of other early stage biotechnology companies. Mr. Schmertzler has also been a Managing Director in the Mergers and Acquisitions Department of Morgan Stanley; founded the firm’s and biotechnology industry practice; and headed its global insurance industry practice. He was head of international investment banking and capital markets of Shearson Lehman Brothers and, prior to its acquisition in 1984 by American Express, was the Chief Financial Officer of Lehman Brothers. Mr. Schmertzler has served as a director or senior private investor at Cain Chemical, Colt Industries, Cytokinetics, Idenix, Segway and other industrial and early stage biotechnology and technology companies. He currently serves on the boards of the Addison Gallery of American Art, the Manhattan Theater Company, and the LOR Foundation and has previously served on the boards of Phillips Academy Andover, the Credit Suisse First Boston Foundation, the National Outdoor Leadership School, and the New York Academy of Sciences. Mr. Schmertzler received a B.A. from Yale College in Molecular Biophysics and Biochemistry, History and City Planning and an M.B.A. from the Harvard Business School.