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Venture Capital
redabbey.com

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Investments

36

Portfolio Exits

13

Funds

2

About Red Abbey Venture Partners

Red Abbey Venture Partners, founded in 2004, is the corporate venture arm of Red Abbey and is primarily engaged in investing in early, mid, and late stage companies. Geographically, the firm seeks to invest in US and Europe-based healthcare companies and generally prefers not to invest in seed stage opportunities. The firm's investments: 1) targeted important diseases where the upside of success is significant; and 2) companies with a unique combination of high quality management and technology.

Red Abbey Venture Partners Headquarter Location

10751 Falls Road Suite 300

Baltimore, Maryland, 21093,

United States

410-494-4230

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Latest Red Abbey Venture Partners News

Biogen Buys VC-Backed Stromedix

Feb 14, 2012

Follow @buyouts Publicly traded Biogen Idec is buying venture-backed Stromedix Inc. Under the terms of the deal, Biogen Idec will make an upfront cash payment of $75 million and additional payments of up to $487.5 million based on certain milestones. Stromedix’s investors include Atlas Venture, New Leaf Venture Partners, Bessemer Venture Partners, Red Abbey Venture Partners, and Frazier Healthcare. -cn PRESS RELEASE Biogen Idec (NASDAQ: BIIB) and Stromedix, Inc. today announced that they have entered into a definitive agreement under which Biogen Idec will acquire Stromedix Inc., a privately held biotechnology company focused on innovative therapies for fibrosis and organ failure. Under the terms of the agreement, Biogen Idec will make an upfront cash payment of $75 million and additional contingent value payments of up to $487.5 million based on the achievement of certain development and approval milestones across multiple indications. Stromedix’s lead candidate, STX-100, is a novel humanized monoclonal antibody that selectively disrupts the TGF-beta pathway, which plays a central role in fibrotic disease. STX-100 exhibited significant anti-fibrotic activity in preclinical animal models of fibrotic disease and demonstrated an attractive safety and tolerability profile in a Phase 1 trial. Stromedix has also identified a series of clinical biomarkers that reflects the biological activity of STX-100. STX-100 is entering a Phase 2 trial in patients with idiopathic pulmonary fibrosis (IPF), a debilitating and almost uniformly fatal disease in which patients experience progressive difficulty breathing due to fibrosis (scarring) of the lung. More than 200,000 patients in the United States and Europe have IPF, and there is no FDA-approved treatment for the disease at this time. STX-100 has potential in several additional fibrotic indications given its selective mechanism of action. In addition to STX-100, Stromedix has a preclinical compound that may have utility for the treatment of injury due to inflammation. “Fibrotic organ failure, and in particular IPF, is a terrible disease with a high mortality rate, and there are no effective treatments at this time,” said Douglas E. Williams, EVP, R&D of Biogen Idec. “We believe STX-100 has the potential to be a best-in-class therapy and it is an excellent strategic fit with our focus on highly differentiated programs with the potential to make a real difference for patients. The Phase 2 program complements our scientific expertise and advances our research and development efforts in immunology. We are pleased to welcome Mike and his team back to Biogen Idec to drive STX-100’s continued development. Their work in advancing STX-100 through Phase 1 and developing biomarkers to inform upcoming clinical trials increases the likelihood of bringing a much-needed therapy to patients. This acquisition brings together our scientific strengths and capabilities with a clear goal of providing highly effective therapies to patients suffering from fibrosis.”   “With a well-established understanding of the fundamental biology and tremendous unmet medical need, fibrosis is one of the most exciting and dynamic areas of drug development today,” said Michael Gilman, Ph.D., Founder and CEO of Stromedix, who, before founding   Stromedix, led Biogen Idec’s research organization from 2000 to 2005. “We appreciate Biogen Idec’s focus in immunology and their tremendous international R&D and commercial capabilities. By joining forces, we expect to accelerate the development of STX-100 and other promising early-stage drug candidates. This begins a new chapter for all of us at Stromedix, and we look forward to a bright future as part of Biogen Idec.”   The transaction is subject to customary closing conditions. About Fibrosis and Organ Failure Fibrosis is wound repair gone awry. It results from the body’s attempt to repair chronic tissue injury. Ongoing cycles of injury and repair, often playing out over decades, lead to accumulation of scar tissue in affected organs and disruption of normal tissue architecture and function. Ultimately, the organ fails. Fibrosis is the final common pathway in virtually all forms of chronic organ failure, including kidney, liver and lung, and affects tens of millions of patients in the United States. Nearly 45 percent of all deaths in the developed world are attributable to some type of chronic fibrotic disease. Moreover, the biology of fibrosis is similar regardless of cause –viral, chemical, physical or inflammatory. Fibrosis results from the excessive activity of fibroblasts, in particular a differentiated form known as the myofibroblast. The biology of these cells is well understood, and there is a consensus among experts that pharmacological attenuation of myofibroblast activity ought to slow or perhaps even reverse disease progression, thereby preserving organ function and prolonging a healthy life. About STX-100 STX-100 is a novel, humanized monoclonal antibody that selectively targets integrin αvβ6. STX-100 binds to αvβ6, preventing αvβ6 from binding to latent (or inactive) TGFβ complex and converting it to active TGFβ, the central driver of fibrosis. STX-100 has exhibited significant anti-fibrotic activity in preclinical animal models. In August 2010, the FDA granted orphan drug designation to STX-100 for the treatment of IPF. Stromedix has completed a Phase 1 clinical trial of STX-100 and is currently initiating a Phase 2 trial in patients with IPF. Stromedix believes that STX-100 has potential therapeutic application across a broad number of fibrotic diseases. About Biogen Idec Through cutting-edge science and medicine, Biogen Idec discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases,hemophilia and autoimmune disorders. Founded in 1978, Biogen Idec is the world’s oldest independent biotechnology company. Patients worldwide benefit from its leading multiple sclerosis therapies, and the company generates more than $5 billion in annual revenues. About Stromedix Stromedix is a privately held biotechnology company based in Cambridge, Massachusetts, focused on innovative therapies for fibrosis and organ failure. Stromedix’s investors include Atlas Venture, New Leaf Venture Partners, Bessemer Venture Partners, Red Abbey Venture Partners, and Frazier Healthcare. © 2015 Buyouts Insider / Argosy Group LLC

Red Abbey Venture Partners Investments

36 Investments

Red Abbey Venture Partners has made 36 investments. Their latest investment was in Merrimack Pharmaceuticals as part of their Growth Equity on April 4, 2011.

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Red Abbey Venture Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/19/2011

Growth Equity

Merrimack Pharmaceuticals

$77M

Yes

3

3/8/2011

Series C

Veran Medical Technologies

$15M

Yes

1/31/2011

Series E

MacroGenics

$12.02M

No

6/17/2010

Series A

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$99M

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10

11/15/2009

Series C

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$99M

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10

Date

4/19/2011

3/8/2011

1/31/2011

6/17/2010

11/15/2009

Round

Growth Equity

Series C

Series E

Series A

Series C

Company

Merrimack Pharmaceuticals

Veran Medical Technologies

MacroGenics

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Amount

$77M

$15M

$12.02M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

3

10

10

Red Abbey Venture Partners Portfolio Exits

13 Portfolio Exits

Red Abbey Venture Partners has 13 portfolio exits. Their latest portfolio exit was Veran Medical Technologies on December 04, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/4/2020

Acquired

$99M

5

10/10/2013

IPO

$99M

Public

3

3/29/2012

IPO

$99M

Public

1

2/14/2012

Acquired

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$99M

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10

7/20/2011

Acquired

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$99M

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10

Date

12/4/2020

10/10/2013

3/29/2012

2/14/2012

7/20/2011

Exit

Acquired

IPO

IPO

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

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Sources

5

3

1

10

10

Red Abbey Venture Partners Fund History

2 Fund Histories

Red Abbey Venture Partners has 2 funds, including Red Abbey Venture Partners.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/15/2004

Red Abbey Venture Partners

Multi-Stage Venture Capital

Closed

$50M

1

Druid BioVentures I LLP

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10

Closing Date

10/15/2004

Fund

Red Abbey Venture Partners

Druid BioVentures I LLP

Fund Type

Multi-Stage Venture Capital

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Status

Closed

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Amount

$50M

Sources

1

10

Red Abbey Venture Partners Team

2 Team Members

Red Abbey Venture Partners has 2 team members, including current Chief Executive Officer, President, Edward O. Lanphier.

Name

Work History

Title

Status

Chris Y.h. Tan

Founder

Current

Edward O. Lanphier

Chief Executive Officer, President

Current

Name

Chris Y.h. Tan

Edward O. Lanphier

Work History

Title

Founder

Chief Executive Officer, President

Status

Current

Current

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