February 9, 2007

Hatteras Announces Initial Closing of Fund Focused on Early-Stage Companies in the Southeast

Robert Ingram, Former CEO of GlaxoWellcome, Joins Hatteras 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. “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.