New Leaf Venture Partners was formed in 2005, when the healthcare team spun out from the Sprout Group, the venture capital affiliate of Credit Suisse. The NLV team has been built over more than 15 years and has managed the health care technology portfolios in five Sprout funds as well as in two of its own NLV funds:

• New Leaf Ventures I, L.P., a $310 million fund that closed in 2005

• New Leaf Ventures II, L.P., a $450 million fund that closed in late 2007 and began its new investment cycle in 2008

The NLV team has invested more than $1.3 billion together in over 100 healthcare technology companies. The team’s investments have spanned a range of opportunities, including investments in start ups, private financings, PIPEs, structured financings, and small buyouts. Some representative investments include Adeza Biomedical (Cytyc) *, Aradigm Corporation, Aspreva Pharmaceuticals (Galenica Group), Cephalon, Cerexa (Forest Laboratories), CombiChem (DuPont), Epicor Medical (St. Jude), ePocrates, Ilypsa (Amgen), NxStage Medical, Oriel Therapeutics (Novartis-Sandoz Div.), Pathology Partners (Caris Ltd), Phase Forward (Oracle), Sapient Health Networks (WebMD), Visiogen (Abbott), and VNUS Medical Technologies (Covidien). The team also led recapitalizations of established companies such as Sirna Therapeutics (Merck) and ISTA Pharmaceuticals.

Both New Leaf Ventures I and New Leaf Ventures II are capitalized by commitments from highly respected limited partners, many of whom have invested with the New Leaf team over multiple funds. These limited partners include a mix of large corporate and public sector pension funds, funds of funds, endowments, and other private investors.

* Company in parentheses and italics denotes acquiring company