M&A Deal Summary

Aisling Capital and Bay City Capital Acquire Oculex Pharmaceuticals

On August 1, 2002, private equity firm Aisling Capital and venture capital firm Bay City Capital acquired life science company Oculex Pharmaceuticals

Acquisition Highlights
  • This is Aisling Capital’s 2nd and Bay City Capital’s 21st transaction in the Life Science sector.
  • This is Aisling Capital’s 2nd and Bay City Capital’s 30th transaction in the United States.
  • This is Aisling Capital’s 1st and Bay City Capital’s 14th transaction in California.
Investment Fate
  • Oculex Pharmaceuticals was sold to a publicly-traded strategic buyer in 2003 for 230M USD.

M&A Deal Summary

Date 2002-08-01
Target Oculex Pharmaceuticals
Sector Life Science
Buyer(s) Aisling Capital
Bay City Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Oculex Pharmaceuticals

Sunnyvale, California, United States
Oculex Pharmaceuticals, Inc. is an Ophthalmic drug delivery company.

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Buyer(S) 2

Buyer

Aisling Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Aisling Capital is a private investment firm focused on opportunities in the healthcare and medical technology sectors. The Firm specifically looks to invest in companies developing and commercializing innovative healthcare products, services, and technologies. Aisling Capital looks to commit $20 to $50 million per investment and prefers to be the lead investor. Aisling will consider investing in both public and private companies. Aisling Capital raised its first fund in 2000. The Firm is based in New York City.


DEAL STATS #
Overall 2 of 56
Sector (Life Science) 2 of 42
Type (Buyout (LBO, MBO, MBI)) 1 of 6
State (California) 1 of 15
Country (United States) 2 of 52
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-27 Novazyme Pharmaceuticals

Oklahoma City, Oklahoma, United States

Novazyme is a development stage biotechnology company focused on drugs to treat lysosomal storage diseases

Sell $137M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-20 Oculex Pharmaceuticals

Sunnyvale, California, United States

Oculex Pharmaceuticals, Inc. is an Ophthalmic drug delivery company.

Sell $230M
Buyer

Bay City Capital

San Rafael, California, United States

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Bay City Capital LLC was established in 1997 as an equal partnership between The Craves Group and certain Pritzker family business interests for the purpose of managing investment funds in the life sciences industry. Bay City looks for opportunities at all stages of development in biopharmaceuticals, drug discovery, medical devices and diagnostics. Bay City Capital is based in San Francisco, California.


DEAL STATS #
Overall 32 of 75
Sector (Life Science) 21 of 54
Type (Buyout (LBO, MBO, MBI)) 10 of 18
State (California) 14 of 41
Country (United States) 30 of 72
Year (2002) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-15 Itamar Medical

Caesarea, Israel

Itamar Medical is a medical device company which develops, markets and sells diagnostic medical devices based on the PAT™ (Peripheral Arterial Tone) signal. The PAT signal is a non-invasive "window" to the cardiovascular system and the autonomic nervous system. Itamar Medical was founded in 1997 and is based in Caesarea, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-01 Pathway Diagnostics

Malibu, California, United States

Pathway Diagnostics Corp. is a full-service biomarker assay development and commercialization company that uniquely combines expertise in clinical biomarker diagnostics with access to intellectual property, a broad range of technology platforms, and full-service central laboratory for clinical trials that is licensed under CLIA/CAP and compliant with GLP/GCP regulations.

Buy -