Q2 2006 Update
Sent on October 5, 2006
Kleanthis G. Xanthopoulos, Ph.D., will join Enterprise Partners as a Managing Director, after completing his transition from Anadys Pharmaceuticals (Nasdaq:ANDS), a biopharmaceutical company he founded in 2000 and where he currently serves as President and Chief Executive Officer. He will remain on the Anadys Board of Directors. Dr. Xanthopoulos was voted the 2006 Ernst & Young Entrepreneur of the Year at the annual award ceremony June 14 in San Diego.
Dr. Xanthopoulos said, “I could not be more proud of the groundbreaking work our team at Anadys has done in developing small-molecule drugs for the treatment of hepatitis, other serious viral infections and cancer. The experience of building a successful company has been a transformative one for me, and I look forward to the opportunities Enterprise affords and to working with entrepreneurs in a broad range of the life sciences.”
At Enterprise, Kleanthis will join Managing Directors Bob Conn, Carl Eibl, Drew Senyei and Bill Stensrud, along with Partner Emeritus Jim Berglund. The firm will continue investing in a balanced portfolio of technology and life sciences, with Dr. Xanthopoulos focusing initially on the expanding field of biopharmaceuticals. He joins the existing life sciences practice at Enterprise that includes Drew Senyei, M.D., and Entrepreneurs-in-Residence Krisztina Zsebo, Ph.D. and Steven Brauer.
Wireless and New Media Deals Dominate Q2
Enterprise Partners Leads $10.9M Series A with Kalon Semiconductor
Bob Conn, managing director of Enterprise Partners, led the firm’s Series A financing for $10.9M in Kalon Semiconductor... The round was led by Enterprise Partners Venture Capital and includes Avalon Ventures, Cisco Systems, Inc., and Mission Ventures. Ali Hedayati, formerly GM of Intel’s Centrino Wireless Product Division, an Enterprise Partners Entrepreneur-in-Residence and a Kalon co-founder, has been named CEO. Kalon Semiconductor develops high data rate, standards-agnostic connectivity products for wireless and wired applications. Kalon Semiconductor’s patented ultra-wideband (UWB) architecture delivers optimal cost and performance for a broad range of applications including in-home multimedia, wireless USB, wireless high definition video (HDMI), and Bluetooth 3.0. The Kalon executive team brings exceptional technical and market knowledge to the field of wireless connectivity via their years of experience with industry leaders including Intel, Mitsubishi, and Qualcomm.
SpecificMEDIA Receives First Venture Funding from Enterprise
Enterprise Partners announced the close of a Series A financing with SpecificMEDIA, an online media network and audience targeting company based in Irvine, California. Enterprise Partners led the round that includes Shepherd Ventures. The funding will be used to expand marketing and sales efforts, including the addition of sales offices in key U.S. media markets and to further deploy SpecificMEDIA’s user targeting technologies. This financing follows a period of remarkable growth for the company. During the past twelve months, SpecificMEDIA achieved a 500% increase in the number of advertisers it services and exceeded 90% retention rates. The company currently serves hundreds of clients each month and is profitable.
SpecificMEDIA, founded in 1999, enables advertisers to target audiences through advanced demographic, behavioral, contextual, geographic and retargeting technologies across a network of premium, name brand websites.
$73 Million Raised Enterprise Portfolio Companies in 10 New and Follow On Rounds in Q2
Enterprise portfolio companies raised $73 million in new and follow on funding in Q2, with Enterprise contributing $48 million to the total.
Kalon and SpecificMEDIA received initial funding while Breach Security, Calient, Celula, Celladon, Devicescape, Expresso Fitness, Muze, and ReliOn, receiving follow on support.
Ulrich and Xanthopoulos Win E&Y Entrepreneur of the Year Awards
Kleanthis G. Xanthopoulos, CEO of Anadys Pharmaceuticals and newly named Managing Director of Enterprise Partners, and Peter Ulrich, CEO of TargeGen, an Enterprise portfolio company, each received one of the prestigious awards.
Kleanthis G. Xanthopoulos won the award in the "Health Sciences" category. Anadys is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel small molecule medicines for the treatment of hepatitis, other serious infections and cancer. The company has core expertise in toll-like receptor-based small-molecule therapeutic candidates and structure-based drug design coupled with medicinal chemistry. In addition to ANA975, Anadys currently has ANA380 in clinic trials for hepatitis B -- and a third product candidate, ANA773 for cancer -- expected to enter the clinic in the second half of 2006.
TargeGen CEO Peter G. Ulrich won the award in the "Emerging Companies" category. TargeGen is currently working on the development of four internally discovered drug candidates: TG100-115, a compound intended to reduce heart tissue damage in heart attack patients, TG100801 a small molecule topically applied to treat macular degeneration and several other early stage compounds for the treatment of resistant forms of leukemia and myeloproliferative diseases.
Randy Smerik, CEO of Tarari, an Enterprise portfolio company, was a finalist in the "Emerging Companies" category. The annual Ernst & Young ceremony was held in San Diego on June 15.
