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New Leaf Venture Partners Closes $310 Million Healthcare
Fund; Focus on Clinical-Stage Biopharmaceutical Products,
Early-Stage Medical Devices, and Molecular Diagnostics
NEW YORK & MENLO PARK, Calif. Aug. 9, 2005 -- New Leaf Venture
Partners (NLV Partners) announced today that the company has
closed a $310 million venture capital fund dedicated to
healthcare technologies. The company will invest primarily in
firms focused on clinical-stage biopharmaceutical products,
early-stage medical devices, and molecular diagnostics.
NLV Partners initiated operations in July 2005 under the former
managers of Sprout Group's Healthcare Technology venture team.
NLV Partners' team includes: Managing Directors Philippe Chambon,
M.D., Ph.D., Andrew Firlik, M.D., Ron Hunt and James Niedel,
M.D., Ph.D., in the company's New York office; Managing
Directors Jeani Delagardelle, Kathy LaPorte and Vijay Lathi in
the Menlo Park office; and Vice President Hao Zhou in Menlo
Park.
In a statement, Philippe Chambon and Kathy LaPorte commented,
"We are very excited by the closing of our first fund and are
grateful for the strong support from an outstanding group of
limited partners. With the formation of NLV Partners, we have
now created one of the very few venture firms 100 percent
dedicated to the life sciences, which will allow us to play a
significant role in supporting innovative companies in this
sector. We plan to continue the successful healthcare technology
investment strategy that we followed at Sprout Group and look
forward to an active investment program in the months to come."
About NLV Partners
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 firms focused on
clinical-stage biopharmaceutical products, early-stage medical
devices, and molecular diagnostics. In addition, the NLV
Partners team will continue to manage the existing $800 million
healthcare technology portfolio of Sprout Group.
Contact
Burns McClellan, New York
on Behalf of NLV Partners
Justin Jackson
212-213-0006
jjackson@burnsmc.com
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