Aclara Biosciences

Mountain View, CA

IPO (2000)

Biochip company that developed microfluidic lab-on-a-chip technology with applications for genetic analysis, high-throughput drug screening and clinical diagnostics.

Anthera Pharmaceuticals

San Mateo, CA

IPO (2010)

Anthera Pharmaceuticals is a pharmaceutical development company focused on the advancement of promising clinical products for the treatment of serious inflammatory diseases. Anthera's lead products are inhibitors of secretory phospholipase A2. The lead product has completed Phase 2 development for coronary artery disease (CAD).

Arena Pharmaceuticals

San Diego, CA

Nasdaq: ARNA

Biopharmaceutical company that has developed a technology to accelerate the development of lead compounds targeting G-protein coupled receptors. This core technology, called CART, allows for ligand-independent, direct identification of small molecule compounds that regulate the activity of G-protein coupled receptors.

Cequent Pharmaceuticals

Cambridge, MA

Acquired by Marina Biotech in 2010

Cequent is an early-stage biopharmaceutical company developing new clinically compatible therapies based on RNA interference (RNAi). The company has developed a novel, proprietary method to deliver RNAi to diseased cells utilizing modified, live, nonpathogenic bacteria. Cequent is focusing its efforts on the pre-clinical development of products to treat gastrointestinal diseases, including familial polyposis, inflammatory bowel disease and colon cancer.

Cerexa

Alameda, CA

Acquired by Forest Laboratories in 2007

Cerexa, Inc. was formed in 2005 as a spin-out from Peninsula Pharmaceuticals to focus on acquiring, developing, and commercializing hospital-based anti-infective therapies for the treatment of patients with serious, life-threatening infections. In early 2007, Forest Laboratories acquired Cerexa for $483 million in cash plus a potential $100-million payment in the event that U.S. product sales of Cerexa�s lead antibiotic, Ceftaroline, exceed $500 million during any twelve-month period within the first five years following product launch.

EBM Solutions¹

Nashville, TN

Acquired by HealthGate Data Corp. in 2003

Evidence-based medical solutions provider that partners high-quality health and medical information with ongoing monitoring and analysis of healthcare organizations' online initiatives. HealthGate's consumer health information is URAC-accredited and the evidence-based clinical guidelines are backed by independent medical review support through affiliations with Duke University Medical Center, Emory University School of Medicine, Oregon Health and Science University, and Vanderbilt University Medical Center.

FlowCardia

Sunnyvale, CA

FlowCardia is a medical device company commercializing products for the treatment of chronic total occlusions (CTOs) of coronary and peripheral arteries. Utilizing a technology known as high-frequency mechanical recanalization, the company's CROSSER™ System safely and quickly breaks up CTOs allowing subsequent stent placement or balloon angioplasty and avoiding the trauma of cardiac surgery. FlowCardia's products are marketed throughout much of the United States.

LEAD Therapeutics

San Francisco, CA

Acquired by BioMarin in 2010

LEAD Therapeutics is a chemistry-driven small-molecule drug discovery company, pursuing validated drug targets with rapid and efficient lead-optimization strategies. The company is leveraging its highly experienced, U.S.-based scientific team with high-quality, lower-cost chemistry capabilities in China.

NuVasive

San Diego, CA

Nasdaq: NUVA

IPO raised $72 million in 2004

Medical device company that designs, manufactures and markets minimally invasive spine surgery systems. Its FDA-approved system allows the surgeon to perform common open spine operations through small incisions with a proprietary, easy-to-use guidance system. NuVasive raised $72 million in a May 2004 IPO.

Panacos Pharmaceuticals

Watertown, MA

Reverse merger in 2005

Panacos is a biopharmaceutical company engaged in the discovery, development and commercialization of small molecule drugs to treat or prevent serious infectious disease. The Company has an expanding pipeline of promising anti-infective drug candidates for major markets with significant, unmet medical needs. The Company's lead antiviral product is PA-457, the first in a new class of drugs to treat HIV infection discovered by Panacos scientists currently in Phase 2 clinical trials.

Peninsula Pharmaceuticals

Alameda, CA

Acquired by Johnson & Johnson in 2005

Pharmaceutical development company focused on in-licensing and developing clinical stage pharmaceutical products. Initially, the company is pursuing opportunities that treat infectious diseases, a category that is attractive because of the high probability of clinical success following Phase I, lower development costs, and shorter clinical development timelines. Peninsula has licensing agreements in place with Shionogi & Co. and with Takeda Chemical Industries.

Reprogenesis

Cambridge, MA

Nasdaq: CRIS

Merged with Ontogeny and Creative BioMolecules to form Curis in 2000

Company developing in vivo tissue augmentation/repair products. Reprogenesis merged in July 2000 with Creative Biomolecules and Ontogeny to form Curis, a public company focused on regenerative medicine. Curis is developing products that are designed to recreate the conditions that support the growth of cells and tissue.

Syntonix Pharmaceuticals

Waltham, MA

Acquired by BiogenIDEC (2007)

Syntonix, Inc. was founded in 1999 to discover and develop novel therapeutic proteins for treatment of chronic diseases such as hemophilia, anemia, multiple sclerosis, and autoimmune disorders. Biogen Idec acquired Syntonix in early 2007 for $120 million, including an up front payment of $40 million and milestone payments of up to an additional $80 million based on clinical progress of the lead compound.

TargeGen

San Diego, CA

Acquired by Sanofi-aventis (2010)

TargeGen is a biopharmaceutical company focusing on vascular biology, which includes controlling vascular leakage (responsible for organ damage) and angiogenesis (new blood vessel growth). The company is in a Phase 1 trial with its Jak2 inhibitor for treatment of myeloproliferative disease.

Variagenics

Cambridge, MA

Nasdaq: NUVO

IPO (2000)

Pharmacogenomics company with proprietary gene variance detection technology anticipated to streamline drug development. The company identifies clinically relevant variants in genes that affect drug action and applies this information to the design of clinical trials.

X-Ceptor Therapeutics

San Diego, CA

Acquired by Exelixis in 2004

Genomics-based drug discovery company focused on the discovery and development of novel therapeutics across various therapy areas. The company is leveraging its fully integrated gene-to-drug platform to fuel the growth of its proprietary drug pipeline. Exelixis' development pipeline currently covers cancer and metabolism. Pappas Ventures I was part of the founding investor group that originally invested in X-Ceptor Therapeutics, Inc., which was acquired in October 2004 by Exelixis, Inc.