IPOs/recent issues: Cepheid –

Sunnyvale, Calif.

Went public 6/21/2000 at $6 apiece

Filing Range: 5 mil. shares @ $6

Shares Outstanding: 25.51 mil. shares

Underwriters: UBS Warburg/Prudential Vector Healthcare/

Invemed Associates Inc.

Company Counsel: Heller Ehrman White & McAuliffe

Manager Counsel: Dewey Ballantine LLP

Auditor: Ernst & Young LLP

The Company:

Develops fast, integrated systems for DNA probe essays. Designs and produces fully-integrated bio-analytical test systems with broad market applications ranging from human infectious disease and cancer diagnostics, food quality testing and environmental testing, to research and development activities in molecular biology.

Venture Backers:

Advanced Technology Ventures

Medtronic Inc.

Formula Growth Fund

Invemed Associates Inc.

Wheatley Partners

Applewood Associate

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 01/01/1997 2 Early Stage 3100.0

2 04/01/1998 4 Early Stage 8200.1

3 11/01/1998 1 Early Stage 2250.0

4 01/21/2000 10 Early Stage 19140.0


(Data in $ millions)



Total Revenues: $3.59

Net Loss: -7.91