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RiverVest Venture Partners Sells Four Successful Life Science Companies for More than $1 Billion
Date:2/6/2012

el is broken," says Mark G. Heesen, president of the National Venture Capital Association. "RiverVest has just given us a powerful example of why it's not."

The four innovative companies RiverVest sold in 2011 and for which investors received payouts in 2012 are:

Minneapolis-based Lutonix, founded by RiverVest in 2007, has developed drug-coated balloons for the treatment of peripheral arterial disease. It was sold to C.R. Bard, Inc. for a purchase price of approximately $225 million, with an additional $100 million to be paid upon FDA approval. For investors of RiverVest's Fund II, which included Lutonix, this translated into a 4.7x return on the Fund's $5.6 million investment. If approved by the FDA, the return will bump up to about 8.0x return.

Also founded by RiverVest in 2007, and part of RiverVest's Fund II portfolio, biopharmaceutical company Excaliard Pharmaceuticals, Inc. focuses on developing novel drugs for the treatment of skin fibrosis, or scarring. It was purchased by Pfizer Inc. for an undisclosed amount.

RiverVest's Fund II invested three years ago in Mpex Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing a new cystic fibrosis drug.  It was purchased by Aptalis Pharma, a privately held, specialty global pharmaceutical company, for an undisclosed amount.

Founded by Schmelter, and included in RiverVest's Fund I, Salient Surgical Technologies, Inc. is a leader in the advanced energy category for haemostatic sealing of soft tissue and bone in a variety of surgical procedures. It was sold to Medtronic, Inc. for $525 million, delivering a return of 3.3x.

About RiverVest Venture Partners®

RiverVest Venture Partners is a venture capital firm focused on identifying and shaping early-stage life science companies throughout the U.S. to create significant shareholder value. With hands-on, high-level expertise and financial resources, RiverVest supports entrepreneurs by h
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SOURCE RiverVest Venture Partners
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