HEALTHCARE Royalty Partners Establishes Strategic Advisory Board
Appoints Industry Veterans Strengthening Firm’s Global Reach
and Leadership Position in Royalty Financing Market
STAMFORD, CT – September 17, 2009 – HealthCare Royalty Partners (“HC Royalty”) today announced that it has established a Strategic Advisory Board to extend the Firm’s functional knowledge and geographic base within the healthcare industry. The Board will be comprised of industry veterans with complementary backgrounds and significant general management experience. Each member is expected to supplement HC Royalty’s due diligence, opportunity assessment, business development and portfolio management capabilities.
The initial five board appointments include Dr. Frank Armstrong, Louis P. Berneman, Dr. Michael G. Carter, Timothy P. Lynch and Nicholas L. Teti, Jr.
Dr. Frank Armstrong is CEO of Fulcrum Pharma plc, a drug development and regulatory services company based in London, England. Prior to joining Fulcrum Pharma plc, he served as CEO at a number of healthcare and biopharmaceutical companies, including CuraGen Corporation, Bioaccelerate Holdings, Inc., Provensis Ltd. and Phoqus Pharmaceuticals plc. Prior to these positions, Dr. Armstrong was head of worldwide product development at Bayer AG and a senior vice president at Zeneca Pharmaceuticals (now AstraZeneca plc). Dr. Armstrong holds an MBChB from the University of Edinburgh and became a member of the Royal College of Physicians in 1984. He was elected a Fellow of the Royal College of Physicians, Edinburgh in 1993 and was elected a Fellow of the Faculty of Pharmaceutical Physicians in 1994.
Louis P. Berneman is President of Texelerate, LLC, a technology transfer consultancy where he is focused on royalty monetization, establishing and investing in start-up companies, and patent licensing. He is also a Partner of Osage University Partners and Founder and President of TMune Therapeutics, Inc. For the past nine years, Mr. Berneman was a member of the Strategic Advisory Board for the Paul Royalty Funds. Previously, he served as Managing Director of the Center for Technology Transfer at the University of Pennsylvania. Mr. Berneman is a former President of the Association of University Technology Managers and a former Vice President and Trustee of the Licensing Executives Society. He holds a B.A. from the Pennsylvania State University, a teaching credential from University of California at Santa Barbara, and an M.A., M.T. and Ed. D. from Teachers College, Columbia University. Mr. Berneman is a Certified Licensing Professional.
Dr. Michael G. Carter is a Venture Partner at SV Life Sciences Advisers LLP and serves as a Non-Executive Director of Micromet Inc., Fulcrum Pharma plc, Santarus, Inc. and GTx, Inc. Previously, Dr. Carter was a member of the Strategic Advisory Board for the Paul Royalty Funds. From 1984 to 1998, Dr. Carter held numerous positions with Zeneca Pharmaceuticals (now AstraZeneca plc), including International Marketing Director, International Medical Director and was a member of the company’s board. Dr. Carter also held numerous positions with Roche Products Ltd from 1976 to 1984, including Director of the Pharmaceutical Division, Head of Medical Development and Medical Affairs, and an adverse reactions physician. For nearly a decade, he served on the UK Government’s Medicines Commission and, prior to entering the pharmaceutical industry, was a practicing physician. Dr. Carter holds a Diploma in Pharmaceutical Medicine, an MBChB from Sheffield University Medical School, a B-Pharm from London University’s School of Pharmacy and is a member of the Pharmaceutical Society. He was elected a Fellow of the Royal Pharmaceutical Society, a Fellow of Faculty of Pharmaceutical Medicine of the Royal College of Physicians and a Fellow of the Royal College of Physicians, Edinburgh.
Timothy P. Lynch is a General Partner at Stonepine Capital Management LLC, a healthcare hedge fund located in San Francisco. Previously, he served as CFO at Tercica, Inc. and InterMune, Inc. Mr. Lynch also worked in corporate development for Élan Corporation plc and began his career with Goldman, Sachs & Co. He currently serves on the Boards of Directors of Nabi Biopharmaceuticals, InSite Vision Inc., Allos Therapeutics, Inc. and Bioform Medical, Inc. Mr. Lynch holds a B.A. from Colgate University and an M.B.A. from Harvard Business School.
Nicholas L. Teti, Jr. is currently an independent consultant serving public and private healthcare companies. Until September 2009, Mr. Teti was Chairman of the Board of Isolagen, Inc. and, until January 2008, was also the company’s CEO. He currently serves on the boards of directors of EnteroMedics Inc. and Suneva Medical, Inc., one of Cowen Royalty’s portfolio companies. Previously, Mr. Teti served as CEO of Den-Mat Holdings and as Chairman, President and CEO of the Inamed Corporation. He spearheaded the sale of Inamed Corporation to Allergan, Inc. for $3.3 billion in March 2006. Prior to Inamed, Mr. Teti worked at the DuPont Pharmaceutical Company. During his 25-year tenure at DuPont, Mr. Teti held the roles of President, CEO and COO, as well as a number of other senior management positions. Mr. Teti holds a B.A. and an M.B.A. from St. Joseph’s University.
About HealthCare Royalty Partners:
HealthCare Royalty Partners is a global healthcare private equity firm that invests principally in commercial-stage biopharmaceutical and medical device companies and products, through the purchase of royalty interests. The investment team has over 100 years of healthcare related experience including principal investing, structured finance, healthcare industry senior management, Wall Street research and consulting, scientific and clinical experience. For more information, please visit www.healthcareroyalty.com.
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