Firms & Funds

IPOs/Recent Issues –

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ADVANCED SWITCHING COMMUNICATIONS
Vienna, Va.
Went public 10/5/00 at $15 per share
Filing Range: 6.25 million shares @ $13 to $15
Shares Outstanding: 41.0 million shares
Underwriters: Morgan Stanley Dean Witter/Chase H&Q/Robertson Stephens & Co.
Company Counsel: Fried Frank Harris Shriver & Jacobson
Manager Counsel: Davis Polk & Wardwell
Auditor: Deloitte & Touche LLP
The Company:
Develops cost-effective Multi-Service Aggregators for service providers. The company manufactures multi-service access platforms for voice, data and video traffic. These products can be initially installed as stand-alone, one-slot devices to aggregate multiple traffic types to achieve higher utilization of network resources. The unique architecture of the RBOX provides the flexibility to grow the network to meet demand regardless of protocol, link capacity or density requirements.
Venture Backers:
Technology Crossover Ventures
New Enterprise Associates
Baker Capital Corp.
Morgan Stanley Venture Partners
Morgan Stanley Dean Witter Capital Partners LLC
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 10/1/98 5 Early Stage
10412
2 9/21/99 6 Expansion
40000
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $4.30
Net Income: -9.3
DELCATH SYSTEMS
Stamford, Conn.
Went public 10/20/00 at $6 per share
Filing Range: 1.2 million shares @ $6
Shares Outstanding: 3.9 million shares
Underwriters: Whale Securities Co.
Company Counsel: Morse, Zelnick, Rose & Lander LLP
Manager Counsel: Blank, Rome, Comisky & McCauley
Auditor: KPMG LLP
The Company:
Develops treatments for liver cancer. Delcath has developed a system to isolate the liver from the general circulatory system and to administer chemotherapy and other therapeutic agents directly to the liver.
Venture Backers:
Venkol Ventures
Johnson & Johnson Development Corp.
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 2/22/88 1 Early Stage
500
2 1/23/91 1 Expansion
1063
3 12/1/92 1 Expansion
1050
4 12/1/97 2 Expansion
610
5 6/1/99 1 Expansion
776
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $0.00
Net Income: -0.6
ENDWAVE
Sunnyvale, Calif.
Went public 10/17/00 at $14 per share
Filing Range: 6.0 million shares @ $13 to $15
Shares Outstanding: 32.5 million shares
Underwriters: Deutsche Banc Alex. Brown/J.P. Morgan & Co./U.S. Bancorp Piper Jaffray/Epoch Partners
Company Counsel: Cooley Godward LLP
Manager Counsel: Gibson Dunn & Crutcher
Auditor: Ernst & Young LLP
The Company:
Develops systems for use in wireless, broadband and interactive communication networks. The company develops and manufactures products for wirelessly linking businesses with customers, carriers and ISP?. Its main products are ?lug and play?radio-frequency transmitter receivers and high frequency antennas.
Venture Backers:
TRW Inc.
Goldman, Sachs & Co.
Vertex Management Inc
Harris Corp.
Morgenthaler Ventures
Oak Investment Partners
Bruns-Hardie Investors
Walden International Investment Group
Kinship Venture Management Inc.
Crescendo Venture Management LLC
Greylock
Sigma Partners
Harris Corp.
Fayez Sarofim
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 5/19/94 6 Early Stage
6099.9
2 5/15/95 9 Early Stage
8200
3 5/1/96 10 Early Stage
14250
4 10/1/97 7 Expansion
2500.2
5 5/1/98 10 Expansion
14889.8
6 4/1/99 1 Expansion
20753
7 2/1/00 8 Expansion
24790.2
8 3/1/00 1 Buyout/Acquis.
139896
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $12.40
Net Income: -2.5
HYDROGENICS
Woodbridge, Ont.
Went public 10/27/00 at $12 per share
Filing Range: 7.0 million shares @ $10 to $12
Shares Outstanding: 35.5 million shares
Underwriters: Salomon Smith Barney/CIBC World Markets/BMO Nesbitt Burns Inc.
Company Counsel: Brobeck Phleger & Harrison LLP
Manager Counsel: Cravath, Swaine & Moore
Auditor: Pricewaterhouse Coopers LLP
The Company:
Designs and produces fuel cell test benches and fuel cell related technology.
Venture Backers:
Working Ventures Canadian Fund Inc.
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 12/1/98 2 Early Stage
1039
2 1/1/00 1 Expansion
3691
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $2.70
Net Income: -0.2
INFORMAX
Rockville, Md.
Went public 10/3/00 at $16 per share
Filing Range: 5.0 million shares @ $14 to $16
Shares Outstanding: 18.6 million shares
Underwriters: Bear Stearns & Co./U.S. Bancorp Piper
Company Counsel: Hogan & Hartson
Manager Counsel: Coudert Brothers
Auditor: Deloitte & Touche LLP
The Company:
Develops and sells software enterprising applications to support the informatics efforts of pharmaceutical and biotech companies. The company? main product was designed for molecular biologists who conduct multiple, interrelated sequence analyses, and who are tired of trying to integrate their research data among several disjointed analytical programs. The product provides a comprehensive set of sequence analysis software tools that are seamlessly integrated, therefore they save time and avoid the annoyance of reformatting data.
Venture Backers:
FBR Technology Venture Partners LP
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 6/22/99 1 Early Stage
4000
2 7/1/00 1 Expansion
10000
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $10.00
Net Income: -1.3
INTROGEN THERAPEUTICS
Austin, Texas
Went public 10/12/00 at $8 per share
Filing Range: 5.0 million shares @ $8 to $10
Shares Outstanding: 20.46 million shares
Underwriters: SG Cowen Securities/PaineWebber/Prudential Vector Healthcare
Company Counsel: Wilson Sonsini Goodrich & Rosati
Manager Counsel: Shearman & Sterling
Auditor: Arthur Andersen & Co.
The Company:
Develops gene therapy products for the treatment of cancer. Introgen Therapeutics?drug discovery and development programs have resulted in innovative approaches in which physicians use genes to treat cancer by directly addressing the genetic abnormalities associated with the disease.
Venture Backers:
Rhone Poulenc
Nomura Overseas Enterprises
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 8/1/94 1 Early Stage
527
2 3/1/96 2 Early Stage
14496
3 6/1/96 2 Expansion
4770
4 10/1/97 2 Expansion
11000
Financials:
(Data in $ millions) Y/E
6/30/00
Total Revenues: $8.40
Net Income: -7.7
KOSAN BIOSCIENCES
Hayward, Calif.
Went public 10/5/00 at $14 per share
Filing Range: 5.0 million shares @ $14 to $16
Shares Outstanding: 23.8 million shares
Underwriters: Lehman Brothers/CIBC World Markets/SG Cowen Securities/Fidelity Capital Markets
Company Counsel: Wilson Sonsini Goodrich & Rosati
Manager Counsel: Brobeck Phleger & Harrison LLP
Auditor: Ernst & Young LLP
The Company:
Develops new pharmaceuticals through the application of ?ombinatorial biosynthesis? the generation of novel analogs of natural products by genetic engineering of biosynthetic pathways.
Venture Backers:
Alta Partners
EuclidSR Partners
Sofinnova Ventures
Walden International Investment Group
Goldman, Sachs & Co.
Burr, Egan, Deleage & Co.
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 4/1/96 2 Expansion
3000
2 1/3/97 5 Early Stage
2399.9
3 4/2/98 8 Expansion
15000.1
4 3/24/00 8 Expansion
24930
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $5.30
Net Income: -4.4
MEDICHEM LIFE SCIENCES
Lemont, Ill.
Went public 10/26/00 at $7 per share
Filing Range: 6.4 million shares @ $7 to $9
Shares Outstanding: 25.4 million shares
Underwriters: UBS Warburg/Chase H&Q/ William Blair & Co.
Company Counsel: Winston & Strawn
Manager Counsel: Dewey Ballantine LLP
Auditor: KPMG LLP
The Company:
Provides research & development outsourcing to pharmaceutical firms and companies that use chemical research to develop new products. Clients also include agriculture companies and personal care companies. The company is divided into custom synthesis, combinatorial chemistry, cGMP synthesis and analytical services.
Venture Backers:
Credit Suisse First Boston
Chase Capital Partners
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 6/28/99 4 Early Stage
35000
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $15.30
Net Income: 1.1
OPLINK COMMUNICATIONS
San Jose, Calif.
Went public 10/4/00 at $18 per share
Filing Range: 13.7 million shares @ $16 to $18
Shares Outstanding: 154.0 million shares
Underwriters: Robertston Stephens & Co./CIBC World Markets/J.P. Morgan & Co./UBS Warburg
Company Counsel: Cooley Godward Castro Huddleson & Tatum
Manager Counsel: Latham & Watkins
Auditor: Pricewaterhouse Coopers LLP
The Company:
Designs, manufactures and provides support services for a broad range of fiber optic component applications.
Venture Backers:
Crescendo Venture Management LLC
Worldview Technology Partners
InveStar Capital Inc.
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 11/1/96 2 Early Stage
2770
2 1/1/98 3 Early Stage
3000
3 5/1/98 2 Expansion
8000
4 3/9/00 4 Expansion
44000
Financials:
(Data in $ millions) Y/E
6/30/00
Total Revenues: $39.00
Net Income: -24.9
POZEN
Chapel Hill, N.C.
Went public 10/11/00 at $15 per share
Filing Range: 5.0 million shares @ $14 to $16
Shares Outstanding: 26.4 million shares
Underwriters: U.S. Bancorp Piper Jaffray/Prudential Vector Healthcare/Pacific Growth Equities Inc.
Company Counsel: Morgan Lewis & Bockius
Manager Counsel: Ballard Spahr Andrews & Ingersoll
Auditor: Ernst & Young LLP
The Company:
Operates a pharmaceutical development company. Pozen? initial area of focus is migraines, where it has built a portfolio of four product candidates through a combination of innovation and in-licensing.
Venture Backers:
Canaan Partners
Vector Fund Management LP
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 12/1/96 1 Early Stage
6634
2 12/1/97 1 Early Stage
4540
3 3/1/98 1 Expansion
2300
4 7/1/99 2 Later Stage
12450
5 8/1/00 4 Later Stage
29101
Financials:
(Data in $ millions) Y/E
12/31/99
Total Revenues: $0.00
Net Income: -11.3
SYNPLICITY
Sunnyvale, Calif.
Went public 10/12/00 at $8 per share
Filing Range: 4.3 million shares @ $10 to $12
Shares Outstanding: 23.49 million shares
Underwriters: Robertson Stephens & Co./Dain Rauscher Wessels/SG Cowen Securities Corp.
Company Counsel: Wilson Sonsini Goodrich & Rosati
Manager Counsel: Or>

The Company:
Develops logic synthesis products to market for FPGA hardware designers. The company provides products for hardware designers using programmable logic (FPGA & CPLD) devices.
Venture Backers:
Norwest Venture Partners
Pilgrim Baxter & Associates
Financing Rounds:
Round # Round Date Number of Stage Investors Round Amt. ($ thousands)
1 10/1/96 3 Early Stage
2000
2 5/24/99 4 Expansion
7509
3 5/1/00 5 Later Stage
5504
Financials:
(Data in $ millions) Y/E
1