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Led the investment in April 2001 at a $19.5 million pre-money valuation; acquired by C.R. Bard in November 2011 at a $250 million valuation.
Medivance is a medical device company engaged in the sale of non-invasive, human body cooling methods for stroke, sudden cardiac arrest, and neurogenic fevers.
Led the investment in February 2001 at a $330 million pre-money valuation; fully exited in August 2009 having achieved a 2.2X cash-on-cash return on our investment
Martek Biosciences Corp. is the market leader in developing, manufacturing and selling products derived from microalgae. Microalgae represent a biochemically rich and diverse kingdom of organisms that provide a source of novel products for diverse markets including foods, nutriceuticals, pharmaceuticals and medical diagnostics. Headquarters: Columbia, MD
Led the investment in March 2005 and exited above cost in March 2009 having achieved a 1.1X cash-on-cash return on our investment
Nutrition 21, Corp. is a nutritional bioscience company and the maker of chromium-based supplements with health benefits substantiated by clinical research. The company markets Chromax® chromium picolinate, which is the most studied form of the essential mineral chromium. Nutrition 21 also developed Diachrome®, which is available through diabetes educators. Nutrition 21 holds 36 patents for nutrition products and uses, 27 of which are for chromium compounds and their uses. Headquarters: Purchase, NY
Led the investment in April 2003 and fully exited in February 2011 having achieved a 3.4X cash-on-cash return on our investment.
Acorda Therapeutics, Inc. is a pharmaceutical company that is developing novel drugs for people with spinal cord injury and related neurological diseases. Headquarters: Hawthorne, NY
AirLogix Corporation, Dallas, TX
Led the investment in May 1998 at a $14 million pre-money valuation; acquired by Centene Corporation in July 2005 at a valuation of nearly 1.6X our investment
AirLogix is a disease management company specializing in respiratory disorders. The company's clients are providers of managed care throughout the United States. The professionally trained staff members of Airlogix furnish hands on care to their clients' patients who are afflicted with chronic conditions such as asthma and chronic obstructive pulmonary disease (COPD). The company delivers professional care to patients on an out-patient basis, principally in the patients' homes. Services include patient assessment and education as well as advice and coaching on life style change and self-management.
Confluent Surgical, Inc., Waltham, MA
Invested in June 2002 at a $37 million pre-money valuation; acquired by US Surgical, a division of Tyco, in September 2006 at a $245 million valuation
Confluent Surgical is a medical device company that is developing, marketing, and selling products that address unmet needs relating to post-surgical adhesion prevention and tissue sealing. Post-surgical adhesions are scar tissue that forms as a result of trauma during surgery. Tissue sealants are needed to control the leakage of fluids such as blood, cerebrospinal fluid, air, bowel contents, etc. from tissues when the use of conventional wound closure techniques such as sutures and staples are either not practical or ineffective. Confluent Surgical's products for this $4 billion worldwide market are based on a proprietary technology platform of in-situ polymerized biomaterials. For more information, visit www.confluentsurgical.com
Eximias Pharmaceutical Corp., Berwyn, PA
Led the investment in March 2004 at a $17.5 million pre-money valuation; acquired by YM BioSciences in May 2006
EXIMIAS Pharmaceutical Corp. focused on the acquisition, development and commercialization of unique oncology and infectious disease products. The company had three novel, late-stage products, THYMITAQ® and ORATAQ™ for oncology, and MACROTAC™ for oncology and infectious disease. THYMITAQ®, the company’s flagship product, has been evaluated in a Phase III ETHECC© trial for the treatment of patients with unresectable liver cancer. More information is available at www.ymbiosciences.com
Galt Associates, Inc., Sterling, VA
Led the investment in July 2001 at a $7.0 million pre-money valuation; acquired by Cerner Corporation in July 2006 at a valuation of more than 2X our investment
Galt is a medical consulting and software company that has developed solutions in drug safety record keeping that are sold to pharmaceutical companies. Drug safety is a key issue for the pharmaceutical industry and governmental regulatory bodies. The Food and Drug Administration (FDA) in the US is mandating electronic interchanges between pharmaceutical companies and the FDA. Galt software products enable this electronic interchange. The company's consulting and software products combined reduce delays in the drug approval process and accelerate the time to peak market sales for new drugs.
Gene Logic, Inc., Gaithersburg, MD
Led the investment in April 1996 at a $4 million pre-money valuation; final exit in June 2000 at a $1.1 billion valuation
Gene Logic operates a functional genomics and bioinformatics business. The company determines patterns of differential gene expression utilizing a patented methodology known as READSTM (Restriction Enzyme Analysis of Differentially Expressed Sequences). READSTM enables Gene Logic to identify and quantify expression levels of specific genes which are relevant to specific disease processes. More information is available at www.genelogic.com
ILEX Oncology, Inc., San Antonio, TX
Led the investment in September 1995 at a $17 million pre-money valuation; fully exited in March 2000 at a $1.2 billion valuation
ILEX specializes in drug therapy for malignant disease. The company operates two businesses: a drug development effort and a contract research organization (CRO). ILEX evolved from the Cancer Therapy and Research Center (CTRC) and its Institute for Drug Development. It is affiliated with SWOG (SouthWest Oncology Group), and it has established a strategic relationship with Physicians Reliance Network (PRN). ILEX has since been acquired by Genzyme.
IMPATH, Inc., New York, NY
Led the investment in February 1995 at a $10 million pre-money valuation; fully exited in August 2000 at a $1.1 billion valuation
IMPATH operates a cancer information business. The company characterizes malignant tissue by applying sophisticated analytical methods (e.g. immunohistochemistry; flow cytometry; molecular assay) to anatomic pathology, providing diagnostic and prognostic information to clinicians to enable them to manage their cases to achieve optimal clinical outcome. IMPATH has since been acquired by Genzyme.
NOMOS Corp., Cranberry Township, PA
Led the investment in September 1999 at a $22 million pre-money valuation; acquired by North American Scientific (NASI) in May 2004
NOMOS Corporation is a leading supplier of radiation therapy solutions in the fight against cancer. The company offers a broad-based product line that includes a full range of oncology options -- from the most advanced intensity modulated radiation therapy (IMRT), to conventional 2-D and 3-D planning systems and support products. Additional information is available at www.nomos.com
SunPharm Corp., Jacksonville, FL
Led the investment in April 1997 at a $17 million pre-money valuation; final exit in September 2001 at a $173 million valuation
SunPharm was acquired by GelTex in November 1999. GelTex operated a drug development and marketing business which commercialized small molecular weight organic compounds arising from two distinct yet closely related classes of molecules: polyamine analogs and metal chelators. GelTex has since been acquired by Genzyme. |
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