Venture • Life Science

Bay City Capital, Aisling Capital and Eight Roads Invest In NextWave Pharmaceuticals

On January 1, 2007, venture capital firm Bay City Capital, private equity firm Aisling Capital and private equity firm Eight Roads invested in life science company NextWave Pharmaceuticals

Investment Context
  • This is Bay City Capital’s 29th, Aisling Capital’s 8th and Eight Roads’ 4th transaction in the Life Science sector.
  • This is Bay City Capital’s 41st, Aisling Capital’s 9th and Eight Roads’ 4th transaction in the United States.
  • This is Bay City Capital’s 21st, Aisling Capital’s 2nd and Eight Roads’ 1st transaction in California.
Investment Fate
  • NextWave Pharmaceuticals was sold to a publicly-traded strategic buyer in 2012 for 700M USD.
  • NextWave Pharmaceuticals was divested to a consortium of strategic buyers in 2018.

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Investment Summary

Date January 1, 2007
Target NextWave Pharmaceuticals
Sector Life Science
Investor(s) Bay City Capital
Aisling Capital
Eight Roads
Deal Type Venture

Target Company

NextWave Pharmaceuticals

Cupertino, California, United States
NextWave Pharmaceuticals is a specialty pharmaceutical company developing extended release OTC and prescription products for children and adults. NextWave Pharmaceuticals was founded in 2005 and is based in Cupertino, California.
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Investors Overview 3

Investor

Bay City Capital

San Rafael, California, United States

Investor Investor Investor Investor Investor


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 Context for Investor #
Overall 43 of 75
Sector: Life Science 29 of 54
Type: Venture 31 of 49
State: California 21 of 41
Country: United States 41 of 72
Year: 2007 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-15 IDEV Technologies

Webster, Texas, United States

IDEV Technologies is provider of medical devices for use in interventional radiology, vascular surgery, and cardiology.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 Syntonix Pharmaceuticals

Waltham, Massachusetts, United States

Syntonix Pharmaceuticals, Inc. is a needle-free drug delivery company utilizing the FcRn receptor to transport macromolecules across epithelial barriers in the central airway and into circulation.

Sell $120M
Investor

Aisling Capital

New York, New York, United States

Investor Investor Investor Investor Investor


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 Context for Investor #
Overall 9 of 56
Sector: Life Science 8 of 42
Type: Venture 6 of 29
State: California 2 of 15
Country: United States 9 of 52
Year: 2007 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 ADMA Biologics

Ramsey, New Jersey, United States

ADMA Biologics is a late-stage biopharmaceutical company that develops, manufactures, and intends to commercialize specialty plasma-based biologics for the proposed treatment of Immune Deficiencies and the prevention and treatment of certain infectious diseases. ADMA's mission is to develop and commercialize plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases. ADMA Biologics was founded in 2004 and is based in Ramsey, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-25 Catalent

Somerset, New Jersey, United States

Catalent is a provider of solutions for drugs, biologics and consumer health products. Among its core offerings, it develops and manufactures oral and sterile medication in nearly all dosage forms, holds patents for softgel (e.g. “Liqui-Caps” and “Vegicaps”) and Zydis fast-dissolve technologies used in many popular prescription and over-the-counter medicine. Catalent was founded in 2007 and is based in Somerset, New Jersey.

Buy $3.3B
Investor

Eight Roads

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1969
PE ASSETS 11.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.


Deal Context for Investor #
Overall 10 of 293
Sector: Life Science 4 of 73
Type: Venture 7 of 266
State: California 1 of 42
Country: United States 4 of 119
Year: 2007 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Optegra

London, United Kingdom

Optegra is an eye healthcare provider treating A-Z eye conditions that is supported by dedicated optometrists, healthcare technicians and consultants who provide a wide range of procedures including lens replacement (Clarivu), laser eye surgery, cataract removal, glaucoma, and AMD. Optegra was founded in 2007 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 WuXi AppTec

Shanghai, China

WuXi AppTec is a provider of pharmaceutical, biotechnology, and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi AppTec was founded in 2000 and is based in Shanghai, China.

Buy -