APPLIED MOLECULAR EVOLUTION –

San Diego

Went public 7/27/2000 at $19 per share

Filing Range: 4.65 mil. shares @ $17 to $19

Shares Outstanding:21.2 mil. shares

Underwriters: CIBC World Markets/PaineWebber/SG Cowen Company Counsel: Pillsbury Madison & Sutro

Manager Counsel: McDermott Will & Emery

Auditor: Ernst & Young LLP

The Company:

Produces therapeutics based on direct evolution, a process for optimizing genes and proteins for specific commercial purposes. Since their inception, the principal focus has been on applying the technology to human biotherapeutics. Biotherapeutics, or biopharmaceuticals, are protein pharmaceuticals such as antibodies, cytokines, hormones and enzymes.

Venture Backers:

Domain Associates LLC

Medicus Venture Partners

Delphi Ventures

HarbourVest Partners LLC

N.Y. Life Insurance

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 03/01/1990 1 Early Stage 550.0

2 08/01/1991 4 Early Stage 3000.0

3 01/01/1992 1 Early Stage 205.0

4 02/12/1993 6 Early Stage6 800.0

5 04/01/1994 1 Early Stage 205.0

Financials:

(Data in $ millions)

Y/E

12/31/99

Total Revenues: $2.6

Net Income: -3.2