Two River

Two River

Type	Limited liability company
Industry	Private equity, venture capital
Founded	2004
Founder	Joshua Kazam Peter Kash David Tanen Benjamin Bernstein
Headquarters	New York City, New York
Key people	Arie Belldegrun (Chairman)[1]
Products	Venture capital, equity investment, investment management
Website	www.tworiver.com

Two River Group Holdings is a New York-based venture capital firm and merchant bank focused on the life science sector. It specializes in investments in life science, biotechnology, and in firms focused on developing preventative and therapeutic technologies for a broad spectrum of disease areas including oncology, cardiovascular disease, neurological disorders, and companion animal health care.^[2]

Two River was founded in September 2004 by partners Joshua Kazam,^[3] Peter Kash, David Tanen^[4] and Benjamin Bernstein.^[5] Dr. Arie Belldegrun joined the firm in 2008 as chairman and partner.^[6]

The firm has offices in New York City and Los Angeles.

Portfolio

Two River has invested in the following life science companies:^[7]

• Arno Therapeutics (OTCBB: ARNI) - Arno is a clinical stage biopharmaceutical company that is developing innovative products for the treatment of cancer.

• Edgemont Pharmaceuticals - Edgemont is a privately held pharmaceutical company with a primary focus and expertise in the field of neuroscience. Edgemont is committed to the development of novel drug formulations and new therapies that can improve patient care.

• Kite Pharma (NASDAQ: KITE) - Kite is a privately held development stage biotechnology company engaged in the design and development of pioneering immune-based targeted therapies to treat different cancer indications. Kite has a portfolio of proprietary product candidates designed to stimulate the patient's own immune system to fight tumor cells.

• Capricor Therapeutics (formerly Nile Therapeutics) (OTCBB: CAPR) - Capricor is a clinical stage biopharmaceutical company developing innovative products for the treatment of cardiovascular disease, with an initial focus on heart failure.

• Velcera (acquired by Perrigo) - Velcera develops pet medicines in pain management, anti-allergy and parasiticides that can provide superior convenience and greater compliance than traditional products.

Recent business

• In May 2013, Kite Pharma completed a $35 million financing of Series A preferred stock.^[8]

• In October 2013, Arno Therapeutics completed a $30.7 million financing of equity.^[9]

• In November 2013, Nile Therapeutics completed a merger with Capricor to form Capricor Therapeutics. Capricor has become a wholly owned subsidiary of Nile.^[10]

• In February 2014, Velcera was acquired by Perrigo for $160 million.^[11]

• In April 2014, Kite Pharma completed a $50 million mezzanine private financing of convertible notes,^[12] and in May, the company filed a registration with the SEC for an IPO of its common stock, with a proposed maximum offering price of $115 million. The company listed on the NASDAQ Global Market under the symbol “KITE.”^[13][14] The company planned to raise $78 million by offering 6 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Kite Pharma would command a market value of $548 million.^[15][16] On 20 June 2014, 7.5 million shares of Kite Pharma, priced at $17 a share began trading on the NASDAQ, indicating a market valuation of $632.4 million for the company.^[17][18]

References

1. "Two River Group Holdings, LLC: Board Committees". Businessweek. Retrieved 9 December 2013.
2. "Company Overview of Two River Group Holdings, LLC", Businessweek. Retrieved on 26 June 2013.
3. "Joshua A. Kazam", Businessweek. Retrieved on 26 June 2013.
4. "David M. Tanen", Businessweek. Retrieved on 26 June 2013.
5. "Benjamin Bernstein", Businessweek. Retrieved on 26 June 2013.
6. "Dr. Arie S. Belldegrun, MD, FACS Joins Two River Group Holdings as Chairman and Partner". Reuters. 29 April 2008. Retrieved 26 June 2013.
7. "Portfolio", Two River. Retrieved on 29 April 2014.
8. Elliott, Peter (15 May 2013). "Kite Pharma Completes $35 Million Series A Preferred Stock Financing". iStreetWire. Retrieved 26 June 2013.
9. "Arno Therapeutics Completes $30.7 Million Financing, Recapitalization and 1-for-8 Reverse Stock Split " The Wall Street Journal (New York). 30 October 2013. Retrieved 31 October 2013.
10. "Capricor and Nile Therapeutics Complete Merger to Form Capricor Therapeutics, Inc. ". Bloomberg. 21 November 2013. Retrieved 9 December 2013.
11. Ail, Pallavi (1 February 2014). "Perrigo expands further into pet care with Velcera deal". Reuters. Retrieved 29 April 2014.
12. "Kite Pharma, Inc. Completes $50 Million Mezzanine Private Financing". MarketWatch. 28 April 2014. Retrieved 29 April 2014.
13. "Kite Pharma (KITE) Files $115M IPO". StreetInsider. 19 May 2014. Retrieved 19 May 2014.
14. "Kite Pharma Files Registration Statement for Proposed Initial Public Offering". Digital Journal. 19 May 2014. Retrieved 19 May 2014.
15. Dion, Don (18 June 2014). "IPO For Kite Pharma Might Fly High". Seeking Alpha. Retrieved 18 June 2014.
16. "12 US IPOs planned for the week of Jun 16". NASDAQ. 16 June 2014. Retrieved 18 June 2014.
17. Calia, Michael (20 June 2014). "Kite Pharma Soars Above IPO Price on First Day of Trading". The Wall Street Journal. Retrieved 21 June 2014.
18. "Kite Pharma (KITE) IPO Surges Higher". StreetInsider. 20 June 2014. Retrieved 21 June 2014.

External links

• Two River - official website
• Two River on Businessweek