PAIN THERAPEUTICS –

South San Francisco, Calif.

Went public 7/14/2000 at $12 per share

Filing Range: 5 mil. shares @ $11 to $13

Shares Outstanding: 25.8 mil. shares

Underwriters: Thomas Weisel Partners LLC/CIBC World Markets/Tucker Anthony Cleary Gull

Company Counsel: Wilson Sonsini Goodrich & Rosati

Manager Counsel: O’Melveny & Myers

Auditor: KPMG LLP

The Company:

Develops and manufactures new generation of painkillers.

Venture Backers:

TVM Techno Venture Management

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 10/15/1999 1 Expansion 1460.0

2 02/18/2000 2 Later Stage 15000.0

Financials:

(Data in $ millions)

Y/E

12/31/99

Total Revenues: $0.1

Net Income: -3.3