San Francisco-based Burrill & Company has established an investment banking group that will target life sciences clients.
Burrill & Company, a San Francisco-based global leader in life sciences with activities in Venture Capital, Private Equity, Merchant Banking and Media, is pleased to announce that it has established a new Alternative Equities Group.
“For life sciences companies, accessing capital has become increasingly complex and challenging,” said G. Steven Burrill, CEO, Burrill & Company. “The creation of an Alternative Equities Group is an important step in Burrill’s strategic build out. It addresses our goal of becoming the leading single-source provider of a broad and complementary range of strategic advisory services and creative financing products, as a principal and/or agent.”
Burrill & Company also announces that it has appointed Mr. Peter Fry as Managing Director and Head of Alternative Equities and Mr. Jack Suggs as Director of the Group. They will be based in Philadelphia, Penn. The firm anticipates opening an office in New York City in 2011. Complementing the group will be Mary Ann Gray, Ph.D. who will provide strategic advisory and scientific support to the team. In addition to her research experience in the biotechnology and pharmaceutical industries, Dr. Gray was more recently a fund manager for the Federated Kaufmann Fund and long time sell-side analyst. She serves as a member of three public biotechnology boards.
Previously, Mr. Fry served as the Senior Investment Officer for Kingsbridge Capital where he played an integral role in numerous public and private healthcare investments including more than 35 Committed Equity Financing Facilities (CEFFs) worth more than $1.75 billion. He has more than 17 years of investment banking and advisory experience focused on emerging growth companies and has specific expertise in the placement of private and public equity, debt and convertible securities. Prior to joining Kingsbridge, Mr. Fry was Head of Private Placements for Investec, Inc.
Mr. Suggs has more than 12 years of healthcare investing and investment banking experience. His recent experience includes trading a proprietary long/short life sciences equity and equity options portfolio at Merrill Lynch. Previously, he worked in New York for eight years as a healthcare investment banker, completing numerous financing and strategic advisory assignments with an aggregate transaction value exceeding $2.5 billion. He began his career in business development with Eli Lilly & Co.
“I am delighted to welcome Peter, Jack and Mary Ann to the firm,” said Shawn Cross, CEO, Burrill Merchant Banking Group. “They become part of a multi-faceted and experienced Merchant Banking platform that we have designed to enable growth-oriented life sciences companies to finance their growth by accessing capital through a variety of creative mechanisms, such as CELoCs, traditional equity offerings and select direct investments by Burrill funds.”
“We are excited about the opportunity to join Burrill & Company and enhance its already leading global position within the Healthcare and Life Sciences industries,” said Mr. Fry. “With our Committed Equity Line of Credit (CELoC), Burrill will commit principal capital to select healthcare and life sciences companies that can be drawn down at management’s discretion and thereby, offer a cost-effective means of raising equity capital with unparalleled levels of flexibility, control and security.”
About Burrill Merchant Banking
Burrill Merchant Banking expertise covers a wide range within life sciences industry including biotechnology, pharmaceutical, diagnostics, drug discovery and enabling technologies, HCIT, medical devices and clean technology.
Burrill Merchant Banking service and product offering includes:
Merger & Acquisitions
Strategic Partnering and Joint Venture Advisory
Spin-Outs and Divestitures
Private Placements of Equity and Equity-linked Securities
Committed Equity Lines of Credit (CELoC)
PIPEs and Registered Directs
Venture Investments in Public Equity (VIPEs)
About Burrill & Company
Burrill & Company is a San Francisco-based global leader in life sciences. The Burrill family of venture capital funds has $1 billion under management and its merchant banking business is one of the industry leaders in life sciences transactions. Burrill is also the facilitator of industry conferences and publisher of bio-intelligence reports including the monthly The Burrill Report, which tracks the progress of the global biotechnology industry and annual State of the Industry report.