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Since 1999, Apple Tree Partners (ATP) has worked with entrepreneurs to found and build drug and medical device companies. ATP founds the companies in which it invests, committing capital to participate as a major investor in all financing rounds. ATP executives are deeply involved with the ATP portfolio, serving as acting CEOs, COOs, CSOs and Board or Executive Chairmen. With this active investment approach, ATP has created one of the top IRRs in the life sciences venture industry. The firm currently manages four venture capital funds with committed capital of $2.65 billion. ATP intends to devote the entirety of its third fund, ATP III, capitalized currently at $100 million, to create a start-up pharmaceutical company. The goal is to combine the pragmatism of venture-backed company creation with the sophistication and resources of pharmaceutical R&D organizations. To facilitate this project, ATP is working with one of its offshore limited partners who has committed an additional $200 million to the pharmaceutical company start-up endeavor; these funds are being reserved for late-stage development, and for asset acquisition, once the initial pipeline is in place. Assets in-licensed to create the ATP III portfolio will be developed by the firm's in-house, wholly-owned pharmaceuticals research and development contract research organization, Apple Tree Pharmaceuticals, Inc.
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