Michael Grey Joins Pappas Ventures

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PRESS RELEASE

Pappas Ventures today announced that industry veteran Michael Grey has been named a venture partner.

Grey’s role as venture partner at Pappas Ventures represents an expansion of his long-standing relationship with the firm, which includes his tenure over the past six years as a member of Pappas Ventures’ Scientific Advisory Board. As venture partner, he joins a senior management team that is responsible for managing more than $350 million in assets and oversees investments in 25 active portfolio companies in the U.S. and Canada. Grey is based in San Diego, Calif.

“Mike is a seasoned leader in the biopharmaceutical industry, known for his strong commercial and deal-making acumen,” said Art Pappas, founder and managing partner of the firm. “As a member of our senior management team, he will help us build upon our successful, 15-year track record. All of us at Pappas Ventures admire and respect Mike and look forward to having his active help in identifying and leading unique investment opportunities.”

Grey has 30 years of experience in the biopharmaceutical industry, including CEO roles at Auspex Pharmaceuticals, SGX Pharmaceuticals (acquired by Eli Lilly) and Trega Biosciences (acquired by Lion Bioscience). From 1994 to 1998, he served as president of BioChem Therapeutics, a subsidiary of BioChem Pharma. From 1974 to 1993, Grey served in various roles with Glaxo Holdings plc and Glaxo Inc., including positions as vice president, corporate development and director of international licensing.

“I’ve known Art and other members of the Pappas Ventures team for many years and have always been impressed by their ability to identify exceptional investment opportunities and to work with management and other investors to create real value,” said Grey. “The Pappas Ventures team understands the challenges of biotech investing as well as any venture firm in the industry.”

Grey currently serves on the board of directors of Achillion Pharmaceuticals (Nasdaq: ACHN) and BioMarin Pharmaceutical (Nasdaq: BMRN). He received a Bachelor of Science in chemistry from the University of Nottingham in the United Kingdom.

Grey and six other members of the Pappas team will be attending the 28th Annual JP Morgan Healthcare Conference held in San Francisco from Jan.11 to14. If interested in an interview or meeting, please contact Ford Worthy at 919-998-3330.

About Pappas Ventures
Founded in 1994, Pappas Ventures invests exclusively in the life sciences sector – biotechnology, biopharmaceuticals, drug delivery, medical devices and related ventures. Most recently, in December 2009, the firm co-founded Afferent Pharmaceuticals, a spinout from Roche that is developing first-in-class treatments for chronic pain. Pappas Ventures has more than $350 million in capital under management, and has guided the launch and/or development of more than 50 life sciences companies, including Cerexa (acquired by Forest Laboratories), Peninsula Pharmaceuticals (acquired by Johnson & Johnson), Syntonix (acquired by Biogen IDEC), NuVasive (IPO), and Arena Pharmaceuticals (IPO). For more information about Pappas Ventures, please visit www.pappasventures.com.