Square 1 Financial, Inc. Announces Dr. Seth Rudnick Has Joined the Board of Directors

DURHAM, N.C. --(Business Wire)--

Square 1 Financial, Inc. is pleased to announce that Dr. Seth Rudnick has joined the Board of Directors of both Square 1 Financial, Inc. and Square 1 Bank. Dr. Rudnick has an extensive background in the venture capital industry, as well as over 30 years of comprehensive experience in the biotechnology, healthcare and pharmaceutical industries.

Dr. Rudnick is currently a Partner at Canaan Partners, a global venture capital firm, where he leads the firm's investments in healthcare companies. His prior leadership experience also includes the roles of Chairman of the Board and CEO at CytoTherapeutics, a company focused on the development and commercialization of stem-cell based therapies, and Senior Vice President of Biotech Research and Development at R.W. Johnson Pharmaceutical Research Institute, where he led all research and development activities and managed the Institut's Biotechnology Center in San Diego, California.

Dr. Rudnick also currently serves as a board member of Liquidia Technologies, ORTHOCON, Pozen, Spine Wave and Vaxinnate. He is a member of the Chimerix Scientific Advisory Board, and is an adjunct clinical professor of medicine at The University of North Carolina at Chapel Hill.

"We are excited to welcome Seth as a Director of Square 1 Bank and Square 1 Financial. He brings considerable experience and insight, shares the strategic vision of our organization, and his background closely parallels the Bank's core business model. Seth's immersion and his considerable experience in life sciences investments, makes him an invaluable addition and resource for our team," said Doug Bowers, Chairman, President and Chief Executive Officer of Square 1 Bank.

"I have been delighted by Square 1's nationwide efforts in the life sciences space," said Dr. Rudnick. "I am excited to join the board of such a high-quality, innovative financial institution, especially one headquartered in my home state of North Carolina. I look forward to working with other members of the board and management to accelerate Square 1's success in serving entrepreneurs and the venture capital community in all stages of growth."

Dr. Rudnick received his M.D. from the University of Virginia and a B.A. in History from the University of Pennsylvania. He was a Yale University Fellow in medical oncology, where he was a Robert Wood Johnson Clinical Scholar, and has twice been named to the Midas List, a ranking of leading venture capitalists in the technology and life sciences industries.

About Square 1 Financial

Square 1 Financial, Inc. is the bank holding company for Square 1 Bank, a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.