Sunnyvale, Calif.

Went public 11/10/00 at $12 per share

Filing Range: 3.6 million shares @ $13 to $15

Share Outstanding: 19.37 million shares

Underwriters: Chase H&Q/CIBC World Markets/SG Cowen Securities

Company Counsel: Cooley Godward LLP

Manager Counsel: Stroock & Stroock & Lavan

Auditor: PricewaterhouseCoopers LLP

The Company:

Develops and commercializes an innovative, patent-protected system for aerosolizing liquids into a highly uniform droplet size spray without pressure and with a very low cost nozzle and driver. The system will be applicable to a wide range of peptides, proteins and other macromolecules currently delivered by injection, as well as industrial and consumer product applications for its low cost, non-propellant-based aerosolizing technology.

Venture Backers:

CMEA Ventures

U.S. Venture Partners

MF Private Capital

InterWest Partners

J.P. Morgan Capital Corp.

Viridian Capital Partners

Invesco Private Capital

Viridian Capital LLC

Wheatley Partners

Hunt Ventures LP

Advent International Corp.

Advent Venture Partners

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 10/26/1994 4 Early Stage 1500.0

2 02/01/1996 4 Early Stage 3500.0

3 06/01/1997 4 Expansion 7495.0

4 08/03/1998 7 Later Stage 18000.1

5 03/01/2000 2 Expansion 10835.0

6 07/01/2000 8 Expansion 16870.8


(Data in $ millions)



Total Revenues: 0.5

Net Income: -9.0