Financing Led by Hatteras Venture Partners Helps Launch the First System for Surgical Guidance in the Abdomen

October 30, 2008 (Nashville, TN) – Pathfinder Therapeutics, Inc. (PTI), a medical device company focused on the development of "surgical GPS" systems for the abdomen, announced that it has closed on a $5.2 million Series A financing round led by Hatteras Venture Partners of Research Triangle Park, NC. Other investors included Florida Gulfshore Capital, Clayton & Associates, Nashville Capital Network, Lumira, and Vanderbilt University. Concurrent with the financing, Clay Thorp and Bob Morff, PhD, from Hatteras Venture Partners and Richard Molloy from Florida Gulfshore Capital have joined the Board of Pathfinder, and Bob will serve as interim CEO.

"After speaking with dozens of surgeons and thought leaders around the world, we are confident that Pathfinder will fill a critical void for modernizing surgical precision in the exploding field of robotic and image guided surgery," said Clay B. Thorp, General Partner, Hatteras Venture Partners. "As a first mover with strong intellectual property and some of the best thought leaders in the field, we believe that Pathfinder is well-positioned from a strategic and marketing point of view."

New capital will finance the launch of PlaniSight Linasys and SurgiSight Linasys, medical devices focused on the planning and intra-operative navigation of liver surgery. SurgiSight Linasys, an integrated system of hardware, software, and proprietary tracked tools, received FDA 510(k) clearance in December 2007. PlaniSight Linasys, a software system for pre-operative planning for liver surgery, received FDA 510(k) clearance in September 2008. The company is currently conducting a post-clearance clinical trial for Linasys, funded by a SBIR grant from the National Cancer Institute. Sites for the trial are the University of Pittsburgh Medical Center, the Memorial Sloan Ketttering Cancer Center, and the University of Florida Health Science Center. Pathfinder's products will be formally launched at the American Hepato-Pancreato-Billary Association (AHPBA) meeting in Florida in March 2009.

"This investment allows the translation of our research and development from the laboratory to the hospital and now to the marketplace where it can help the maximum number of patients," said Robert Galloway PhD, co-founder and Professor of Biomedical Engineering at Vanderbilt University. "Our team of engineers and surgeons at Vanderbilt has been a leader in system development for surgery and other forms of therapeutic guidance beginning with brain surgery. We are now able to bring the advantages of such guidance to the liver, kidney and other abdominal organs."

"Vanderbilt has nurtured and developed Pathfinder for several years," said Harry Jacobson, MD, Vice Chancellor for Health Affairs at Vanderbilt University Medical Center. "We are pleased to have a firm of the caliber of Hatteras join us in helping Pathfinder enter this next phase as an independent, entrepreneurial success."

About Pathfinder Therapeutics, Inc.

October 9, 2008 (Morrisville, NC) – Phase Bioscience, Inc., a development stage biopharmaceutical company, announced today that Dr. Craig Rosen has joined the company as Executive Chairman of the Board, effective immediately.

"I have long been interested in versatile technology platforms that can create a pipeline of products addressing improved pharmacology, safety and delivery, all at an attractive cost of goods," commented Dr. Rosen. "Based on elastin-like polypeptides (ELPs), this technology provides the highest potential and versatility that I have seen to date based on its wide application to peptides, proteins and small molecule drugs. From my many years of product development experience, I am confident that the technology developed by PhaseBio can deliver exciting therapeutics across numerous therapeutic disciplines to address significant unmet needs."

"With a truly impressive track record in product development and innovation, Craig Rosen is amongst the most accomplished and successful biotechnology executives in the world," noted Dr. Chris Prior, CEO of PhaseBio. "We can unequivocally say that PhaseBio has assembled a premiere protein engineering/product development team. We are already in preclinical development with greatly improved versions of existing product candidates all directed towards large markets in diabetes, cancer and blood disorders. I could not be more excited about our future."

Prior to joining PhaseBio, Dr. Rosen was Senior Vice President and Chief Scientific Officer at Teva Biopharmaceuticals, USA and remains a consultant for the company. He was also the Co-Founder, Chief Scientific Officer and Executive Chairman of CoGenesys before its acquisition by Teva Pharmaceuticals earlier this year. Prior to founding CoGenesys, Dr. Rosen was President and Chief Scientific Officer of Human Genome Sciences as well as a scientific founder and member of their Board. Dr. Rosen has served on several corporate boards as well as the American Foundation for AIDS Research (AmFAR) and the Scientific Advisory Boards for the Institute of Human Virology and the Wistar Institute.

PhaseBio successfully recruited Dr. Prior and other key scientists to the company earlier this year, paving the way for rapid growth. Collectively, the team members have deep experience in designing and conducting clinical trials and are responsible for thirty seven INDs as well as numerous NDAs and product approvals.

Genentech Founder, Herb Boyer, to Serve as Chair

May 20, 2008 (Durham, NC) – Hatteras Venture Partners announced today the establishment of its Scientific Advisory Board (SAB). The Board of internationally renowned scientists and industry experts is focused on helping Hatteras identify trends and opportunities in the fields of biopharmaceuticals, medical devices, diagnostics, and related areas of life science innovation.

"We are thrilled with the quality and caliber of the advisors we have recruited to help us build the next generation of successful life science companies," said Bob Ingram, General Partner of Hatteras Venture Partners. "We are particularly pleased that Herb Boyer has agreed to serve as Chair of our scientific advisory board."

The Hatteras SAB consists of eight scientists and industry experts from each of the fields of interest to Hatteras and will be chaired by Herb Boyer, Ph.D., one of the founders of Genentech. Dr. Boyer is the co-inventor of recombinant DNA technology, which serves as the basis for all recombinant protein therapeutics. The full Hatteras SAB consists of:

Herb Boyer, Ph.D., Co-Founder of Genentech, Professor Emeritus of Biochemistry and Biophysics, University of California, San Francisco
• James Powell, M.D., pathologist, founder of LabCorp and Tripath
• Charlie Sanders, M.D., cardiologist, former CEO of Glaxo and former Head of Massachusetts General Hospital
• Lucy Shapiro, Ph.D., Professor of Developmental Biology and Director of the Beckman Center for Molecular and Genetic Medicine, Stanford University; Co-Founder of Anacor Pharmaceuticals
• Thomas Mac Mahon, Chairman and former CEO of LabCorp
• Arnold Levine, Ph.D., Professor of Systems Biology, Institute for Advanced Study, former President and CEO of Rockefeller University
• Beat Merz, Ph.D., medical device expert, industry and investing veteran, Investment Advisor, Trigon Medical
• Kazumi Shiosaki, Ph.D., Managing Director, MPM Capital, former SVP of Drug Discovery, Millennium Pharmaceuticals

"I have been truly impressed by the vision and ethics of the Hatteras team," said Dr. Boyer. "The quality of the science coming from the southeast is impressive, and Hatteras has a tremendous opportunity to translate these innovations into world-class companies with transformational products."

"Hatteras has a strategic focus on investment opportunities emanating from institutions in the southeast," said Ken Lee, General Partner of Hatteras Venture Partners. "We wanted to assemble an advisory board of some of the best minds in our industry to ensure that all opportunities are 'best of breed' on an international basis."

April 15, 2008 (Research Triangle Park, NC) – Phase Bioscience, Inc., a development stage biotechnology company, announced today the appointment of Christopher Prior, Ph.D. as Chief Executive Officer and Member of the Board of Directors.

"Based on my industry experience, this unique protein engineering technology will create novel therapeutics as well as improve existing products' safety, efficacy and convenience of use. These elastin-like biopolymers are applicable to proteins, peptides and small molecule therapeutics," said Prior. "The technology combines improved production efficiency and better pharmacology in one step which are major hurdles in biopharmaceutical drug development."

Most recently, Dr. Prior was Founder, President and Chief Scientific Officer of BioRexis Pharmaceuticals which was acquired by Pfizer in 2007. Dr. Prior was also the Founder and President of Principia Pharmaceuticals and a Senior Executive at Human Genome Sciences after its acquisition of Principia. He is a proven serial entrepreneur, fund raiser, and prolific inventor. Dr. Prior's success in developing and implementing business development strategies has resulted in the completion of two acquisitions since 2001, generating significant returns to investors.

"We are thrilled to welcome Chris as the new leader of PhaseBio," said Clay Thorp, Chairman of Phase Bioscience. "His successful track record in developing the albumin and transferrin protein scaffolds is unparalleled. We are particularly excited that several key members of Chris' team at BioRexis will be assuming scientific leadership roles at PhaseBio. We are confident that Chris and the management team will enable the company to move our technology aggressively forward as the new biologics platform for recombinant products."

Dr. Prior has more than 20 years of experience in the development of biopharmaceuticals, involving more than 20 INDs, four NDAs, and three product approvals. Before Principia, Dr. Prior was General Manager of The Immune Response Corporation, Director of Research and Development (biologics) for Rhône Poulenc Rorer (now Sanofi-Aventis), Director of Product Development at Invitron Corporation and a Senior Scientist at Biogen. Dr. Prior received a B.Sc. (honours) in chemistry from the University of London, obtained his Ph.D. in biochemistry from Columbia University and was a post-doctoral research fellow at The Rockefeller University. Dr. Prior is the author of numerous publications and patents.

About Phase Bioscience, Inc.

Phase Bioscience, Inc. (PhaseBio), located in Research Triangle Park, NC, is a privately held protein engineering company focused on developing the next generation of biopharmaceuticals. The company's versatile technology is based on biopolymers of elastin-like repeating subunits to which drugs can be attached or peptides and proteins genetically fused, enhancing therapeutic activity. Alternatively, the biopolymer can be uniquely engineered to undergo a phase transition facilitating a reversible depot formulation for a sustained release mechanism of action.

This same technology platform can be used to improve protein expression and rapid purification in a single step, deltaPhase process.

PhaseBio investors include Fletcher Spaght Venture Partners, Hatteras Venture Partners and Johnson and Johnson Development Corporation.

April 8, 2008 (Durham, NC) – ArtusLabs, a leading provider of life science software tools and data management solutions, today announced that the company has closed a $2.6 million round of venture financing. The Series A round was led by Hatteras Venture Partners and Southern Capitol Ventures.

ArtusLabs was founded by the award-winning management team that built Sythematix, the software solutions company that pioneered the Enterprise Electronic Lab Notebook marketplace and was eventually acquired by Symyx Technologies, Inc. (NASDAQ: SMMX) in 2005.

"We are thrilled to partner with Robin Smith and Brian Ballard to build the next generation research informatics company," said Clay B. Thorp, General Partner, Hatteras Venture Partners. "Robin and Brian have assembled the same world-class team that we built with Synthematix.  ArtusLabs is demonstrating the ability to generate rapid value by focusing this proven team of people on this tremendous pain-point in research informatics."

ArtusLabs's technology platform, Ensemble, has the potential to significantly reduce the research and development time a pharmaceutical or biotech organization spends discovering and developing novel therapeutic compounds. The company will use the funding round to invest and expand its technology platforms breadth of service, expand ArtusLabs marketing efforts and to fund new product development initiatives.

"A competitive marketplace has put intense pressure on life science companies to better streamline costs and increase operating efficiencies," said David Jones, a principal at Southern Capitol Ventures. "ArtusLabs has developed software solutions with the latest Web 2.0 technologies that directly address these challenges. The company's innovative technologies and outstanding management team makes it a very attractive addition to our portfolio."

"We are all very excited to be working again with this group of investors," said Robin Y Smith, CEO of ArtusLabs. "There is a growing pain-point in the life science industry when it comes to software solutions. From outdated platforms to obtuse licensing schemes, ArtusLabs was created to reinvent the way a life science enterprise uses its organizational data assets."

About ArtusLabs

January 17, 2008 (Research Triangle Park, NC) – Clinipace, a clinical research software company based in the Research Triangle Park, announced today that it has closed a $2.6 million Series B financing round led by Hatteras Venture Partners, a life sciences focused venture firm based in Durham, NC, with participation by existing investors Brook Private Equity Advisors of Boston, MA and Emergent Growth Fund of Gainesville, FL.

Clinipace plans to use the capital for company expansion, with an emphasis on bolstering sales and marketing to accelerate growth. Since Clinipace's inception in 2004, the company has made steady strides in the clinical research market by focusing on underserved markets and by providing a more cost-effective and efficient means to support clinical processes via Tempo, Clinipace's unique clinical workflow engine. Clinipace's innovative workflow approach enables its clients to specifically address a wide variety of needs, from clinical trial data collection and management, to monitoring to tracking investigator initiated trials and reporting. The solution also enables Clinipace to run a more efficient operation - creating savings that Clinipace passes on to its customers.

John Crumpler, co-founder and General Partner of Hatteras Venture Partners cites this innovation and market expertise as he explained their decision to invest in Clinipace: "Clinipace has a satisfied customer base and has done a tremendous job of growing the business organically. These customers have validated the need for simple-to-use, flexible, and cost-effective software for clinical research and associated processes. We think that Clinipace has a great opportunity and a solid team with deep industry expertise that has proven it can execute. We are excited about working with Clinipace during this exciting growth phase."

Jeff Williams, CEO and co-founder of Clinipace, says his team is equally pleased to be working with Hatteras Venture Partners. "Hatteras is an ideal partner for us because they have deep experience and expertise in the life sciences and pharmaceutical industries; they really understand clinical research, our customers, and what it takes to successfully market products in this space." Williams continues, "The Clinipace team was really impressed by their due diligence as well; Hatteras carefully took the time to understand how each member of our team works, and why we have certain measures and dynamics in place. We felt like Hatteras really understood the values and work ethics that make us successful and our customers happy."

About Clinipace:

Clinipace is a clinical research software company providing a single, integrated data capture and study management platform for clinical research and registries conducted by biopharmaceutical and medical device companies, Clinical Research Organizations (CROs) and Academic Medical Centers (AMCs). Our platform, called Tempo, is delivered via a web-based, on-demand architecture that streamlines the clinical research process by eliminating the integration headaches associated with multiple platforms, reducing project efforts and costs from startup to conclusion, and empowering project stakeholders to make informed real-time decisions regarding their research. For more information on Clinipace, please visit: www.clinipace.com

October 24, 2007 (Durham, NC) – Phase Bioscience, Inc., a development stage biotechnology company, announced today that it has successfully raised an additional $5.4 million in Series B financing, bringing the total Series B round to $6.6 million. New investor, Fletcher Spaght Ventures (FSV) co-led the round, joining Series B lead investor, Johnson & Johnson Development Corporation (JJDC), which closed on a first tranche of the financing in December 2006 and invested further in this closing. Founding investor, Hatteras Venture Partners (HVP), reinvested in this Series B round from its new fund. Dr. Guy Fish, Vice President, FSV commented that "biopharmaceutical companies highly value the capabilities of PhaseBio's innovations."

The company's technology, in part licensed from Duke University, has the potential to significantly reduce the costs and timelines associated with the purification of therapeutic proteins. In addition, the technology will greatly improve the delivery characteristics of pharmaceutical products. "This is a significant milestone for the company and provides the financial resources needed to continue the development and commercialization of the company's core technologies," said Nick Ellis, PhD, President and CEO of Phase Bioscience, Inc.

In conjunction with the financing, Guy Fish, MD, Vice President, FSV and Doug Reed, MD, General Partner, HVP join the Phase Bioscience Board of Directors. "Our new Directors bring invaluable experiences and perspectives to help lead PhaseBio through our next stages of growth," said Clay Thorp, Chairman of Phase Bioscience and HVP General Partner. Dr. Fish has over twenty years of experience in the life sciences, healthcare and biotechnology sectors. He serves as a Vice President in the Healthcare Practice Group at Fletcher Spaght, the firm's consulting business. Previously, Dr. Fish held an operating position at Collagenesis, was a senior member of The Boston Consulting Group and served as a securities analyst in the medical devices group of Sanford Bernstein. He holds an MD degree from the Yale School of Medicine and is board certified in Internal Medicine. He received an MBA from the Yale School of Management and an AB degree in Biochemistry from Harvard College. Dr. Reed has had a successful thirteen year record in the venture capital business at the Vector Fund and SR One. In addition, Dr. Reed has held business development positions at Geltex and NPS Pharmaceuticals. He practiced as a radiologist at Yale and the University of Washington and received an MBA from The Wharton School of Business.

About Phase Bioscience, Inc.

Phase Bioscience, Inc. (PhaseBio), located in Research Triangle Park, NC, is a privately held biopharmaceutical company molded around an innovative set of technologies that provide new solutions to delivery, production and purification of both protein-based therapeutics and small molecules. Our proprietary Elastin-Like Peptide (ELP) technology enables the Company and its partners to efficiently express and purify proteins and dramatically improve their pharmaceutical attributes. The Company's deltaPhase process for biologic purification eliminates expensive chromatography and ELP mediated drug delivery can turn a good drug into a great one.

Drug Discovery and Development Company Focused on Metalloenzymes Closes Series A Round

June 7, 2007 (Research Triangle Park , NC) – Viamet Pharmaceuticals Inc., a biotechnology company targeting metalloenzymes in the fields of infectious disease, inflammation and oncology, announced today that it has closed a $4 million Series A financing round.

The financing was co-led by new investor Hatteras Venture Partners and founding investor Intersouth Partners, which previously provided seed funding for the company. Douglas Reed of Hatteras Venture Partners will join Garheng Kong of Intersouth Partners on the company's Board of Directors.

"This Series A financing will support the rapid development of our metalloenzyme inhibitor programs," said Robert Schotzinger, M.D., Ph.D., President and CEO of Viamet Pharmaceuticals. "We look forward to working with our financial partners as we continue to grow the company."

"Having worked with Viamet since its founding, we're very pleased to see the company reach this important milestone," said Garheng Kong, M.D., Ph.D., of Intersouth Partners. "The technology is promising and there are significant market opportunities being pursued."

"Viamet is an exciting investment opportunity," said Douglas Reed, M.D., of Hatteras Venture Partners. "We believe the science creates new market opportunities and we look forward to working with Viamet to develop these interesting and important compounds."

Robert Ingram, Former CEO of GlaxoWellcome, Joins Hatteras

February 9, 2007 (DURHAM , NC) – Hatteras Venture Partners announced today the first closing of its third venture capital fund, Hatteras Venture Partners III, LP (HVP III). The Fund has secured commitments for $60 million to invest in seed and early-stage companies in biopharmaceuticals, medical devices, diagnostics and related opportunities in human medicine. The ultimate fund size is expected to be $100 million. HVP III may invest in opportunities throughout the country but will focus on forming and leading companies in the southeastern United States , where the level of National Institutes of Health-funded research is high but the availability of early-stage venture capital is limited.

For its third fund, Hatteras has recruited Robert Ingram, former CEO of GlaxoWellcome and vice chairman pharmaceuticals for GlaxoSmithKline, and Douglas Reed, M.D., a 13-year venture capital veteran, to join Hatteras as general partners and members of the Fund's Investment Committee.

“I am thrilled to join a great group of partners at Hatteras,” said Ingram, who has served as an advisor to the firm. “We will work hard to catalyze the next wave of breakthrough improvements in medicine by commercializing products, based on the billions of dollars of basic research conducted at the outstanding universities in the Southeast.”

“When you analyze the different regions of the country, you see significant federal and private research dollars flowing into laboratories in the Southeast,” said HVP General Partner Clay Thorp. “At the same time, venture capital flows into southeastern companies are much lower than in California and Massachusetts . This capital gap represents a tremendous investment opportunity.”

Hatteras Venture Partners was founded in 2000 by John Crumpler and Clay Thorp with the launch of its first venture capital fund, Hatteras Venture Partners I, a pre-seed fund that has generated top decile returns focused predominantly on company formation in the life sciences. In 2004, the firm added Ken Lee, former head of International Life Science at Ernst & Young, and Dana Fowlkes, M.D. Ph.D., a scientist and successful serial entrepreneur, and raised its second fund, Hatteras Venture Partners II, a later-stage fund invested through a partnership with HBM BioCapital.