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New Leaf Venture Partners and TPG Growth Co-Lead $20 Million
Series B Financing in ProteoGenix
Business Editors
NEW YORK & MENLO PARK & SAN FRANCISCO, Calif.--(BUSINESS
WIRE)--March 14, 2007--New Leaf Venture Partners (NLV Partners)
and TPG Growth announced today that they are co-leading a $20
million Series B private equity financing in ProteoGenix, Inc.
Burrill & Company is also participating in the financing.
ProteoGenix applies innovative and proprietary genomic and
high-throughput protein analytical techniques to develop
diagnostic tests for maternal-fetal health. These next
generation molecular diagnostics will improve the quality of
clinical decisions, resulting in better outcomes for mothers and
newborns, as well as reducing expenditures and risk.
In connection with the financing, Vijay Lathi, a managing
director at NLV Partners, Fred Cohen, M.D., D. Phil., partner
and managing director at TPG Growth, and G. Steven Burrill, CEO
of Burrill and Company, have joined ProteoGenix' board of
directors. Mr. Lathi commented, "The ProteoGenix team is
developing innovative products that will transform the standard
of maternal, prenatal and neonatal care. The company is based on
the pioneering work of Sri Nagalla, M.D., a leading scientific
authority in this field, who is now joined at the company by a
skilled development and commercial team."
About TPG Growth
TPG Growth represents more than $2 billion of capital and is
focused on funding and growing technology, biotechnology and
consumer companies utilizing several approaches including
venture capital, growth equity, leveraged buyouts and private
investments in public equities on a global basis. TPG Growth is
the venture and growth arm of TPG, a leading global alternative
investment firm founded in 1992 with approximately $30 billion
under management. TPG Growth delivers the combined leverage of
TPG's early stage growth and growth investing expertise with
extensive resources to grow companies and has offices in the
United States, China and India. More information is available at
www.tpg.com.
About Burrill and Company
Founded in 1994, Burrill & Company is a San Francisco-based
global leader in life sciences with principal activities in
Venture Capital, Merchant Banking and Media. With over $850
million of capital under management, the Burrill Venture Capital
Group invests in companies focused on biotechnology,
pharmaceuticals, diagnostics, devices, human healthcare and
related medical technologies, nutraceuticals and wellness,
agricultural biotechnology, and industrial biotechnology. In
addition, the company publishes an annual book on the "State of
the Industry" -- the 21st Edition, Biotech 2007-Life Sciences: A
Global Transformation, will be available in March 2007. Burrill
also publishes a range of biotechnology/life science newsletters
and reports. Full details may be found at:
www.burrillandco.com.
About NLV Partners
New Leaf Venture (NLV) Partners is a life science-dedicated
venture capital firm with offices in Menlo Park and New York.
Founded by the former members of Sprout Group's Healthcare
Technology venture team, NLV Partners invests primarily in
companies focused on clinical-stage biopharmaceutical products,
early-stage medical devices, and molecular diagnostics. In
addition, the NLV Partners team continues to manage the existing
$800 million healthcare technology portfolio of Sprout Group.
More information is available at
www.nlvpartners.com.
CONTACT: Burns McClellan on Behalf of NLV Partners
Justin Jackson, 212-213-0006, ext. 327
jjackson@burnsmc.com
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