News: Novitas Capital

PA Early Stage III Announces Final Close at $86 million Close of Third Fund Brings Total Under Management to $237.5 Million

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• Gentara Corporation is a start-up pharmaceutical company that will discover, develop and market important drugs for the treatment of AIDS and cancer. HealthCare Ventures is a co-investor in the company.
• Haley Enterprise is a software technology leader in business rules management systems that provide the fastest cycle times associated with automating business rules. Co-investors in Haley Enterprise include Pequot Ventures and Draper Triangle Ventures.
• Microplate Automation is developing and commercializing a plasma cleaning technology for drug discovery and drug development laboratory equipment. Co-investors include Anthem Capital and New Jersey Technology Council Venture Fund.

• Mobility Technologies, Inc., a real time traffic and logistics company, is providing the nation's only wireless digital sensor network, Digital Traffic Pulse®, for traffic and logistics data collection. Co-investors include TL Ventures and Bessemer Venture Partners.
• Ventaira Pharmaceuticals is a specialty pharmaceutical company that is developing and commercializing a device for improved delivery of drugs to the respiratory system. Co-investors include Battelle Memorial Institute, Pfizer, TL Ventures, Merlin BioMed Private Equity Fund, Fletcher Spaght Ventures, and Reservoir Venture Partners.

PA Early Stage has a strong record of successful portfolio company liquidations, including AANetcom, a fabless semiconductor company, which was acquired by PMC-Sierra (Nasdaq: PMCS) in a transaction valued at approximately $900 million; OraSure Technologies (Nasdaq: OSUR), a leader in oral fluid diagnostics, which merged with a publicly-traded company in a stock deal valued at approximately $255 million; and Half.com, a leading exchange that connects buyers and sellers, which was acquired by eBay (Nasdaq: EBAY) in a transaction valued at approximately $300 million.

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