Canaan Partners Continues Investment Momentum in Healthcare Market; Five IPO and Other Liquidity Events Reflect Healthcare Market Rebound.Business Editors ROWAYTON, Conn.--(BUSINESS WIRE)--Nov. 29, 2000 Canaan Partners, a national venture capital investment firm, today announced a series of recent initial public offerings and other liquidity events among its healthcare investments that reflect the recent rebound in the market. Canaan has remained strongly committed to the healthcare market since its inception in 1987; market capitalization among its healthcare investments total approximately $3 billion. Canaan was an early investor in these companies that have gone public since the beginning of this year: -- Genaissance (Nasdaq:GNSC)- products & technologies for drug discovery & development -- Esperion (Nasdaq:ESPR) - therapeutics for cholesterol reduction -- Orapharma (Nasdaq:OPHM) - oral healthcare products -- Praecis Pharmaceuticals (Nasdaq:PRCS) - peptide-based therapeutics -- Pozen (Nasdaq:POZN) - migraine therapies "Many institutional investors abandoned the healthcare market in recent years when it leveled out," said Harry Rein, managing partner of Canaan Partners. "Canaan has remained committed to investments in healthcare, and has benefited from the strong rebound of the past 12 months in healthcare markets. Representing one-seventh of the U.S. economy, Canaan believes this market is an appropriate investment for the long-term." Additional recent healthcare investments include BioLink, CardioVention, Immunicon, Novare Surgical, ntouch Research, and Revivant. The healthcare investment team at Canaan is made up of Harry Rein; Seth Rudnick, MD, PhD; Brent Ahrens; and Andy Firlik, MD. About Canaan Partners Canaan Partners (http://www.canaan.com) is a national venture capital investment firm formed in 1987. Canaan Partners specializes in early stage venture capital for health care as well as Internet and information technology companies. Canaan Partners was an early backer in Capstone Turbine (CPST CPST Cable Programming Services Tier CPST Commission on Professionals in Science and Technology CPST Community Psychiatric Supportive Treatment (Ohio) CPST Child Passenger Safety Technician CPST Classical Perturbation Scattering Theory ), Centocor (CNTO CNTO China National Tourist Office ), Esperion (ESPR ESPR European Society of Paediatric Radiology ESPR Espressivo (music) ESPR Ethnicity and Social Policy Research Unit (University of Bradford) ESPR European Society of Paediatric Research ), Genaissance (GNSC GNSC Global NetOps Support Center (Defense Information Systems Agency Network Center) ), Matrix Pharmaceutical Inc. (MATX MATX Micro Advanced Technology Extended (motherboard type) MATX Micro ATX ), Orapharma (OPHM), Praecis Pharmaceuticals Inc. (PRCS PRCS Palestine Red Crescent Society PRCS Permit Required Confined Space PRCS Primary Reaction Control System PRCS Senior Chief Parachute Rigger (Naval Rating) PRCS Pseudorandom Chip Stream PRCS Project Revision Control System ), CommerceOne (CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ), E.piphany(EPNY)/Rightpoint, Concord Communications (CCRD), Copper Mountain Networks (CMTN), ONI Systems (ONIS), DoubleClick (DCLK), IntraWare (ITRA), and Interact Commerce (IACT), along with dozens of other market-leading companies. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion