H.I.G. BioVentures

1. H.I.G. BioVentures July 29, 2011

2. H.I.G. Capital – Corporate Overview • H.I.G. is one of the leading private equity firms in the small-cap segment of the market • Founded in 1993; over $9Billion under management • More than 200 investment professionals • Offices: • North America: Miami, Atlanta, Boston, San Francisco, New York, Maryland • Europe: London, Paris, Hamburg • H.I.G. Funds: • Venture/Growth Investments: H.I.G. BioVentures; H.I.G. Growth Partners • Buyout Investments: U.S. LBO, Europe LBO • Distressed Investments: Bayside Capital (debt) • Public Equities: Brightpoint Capital • “Institutionalized” management structure/processes with strong financial staff/controls, • legal/compliance, IT support, and risk management procedures in place • Differentiated, value-added strategy has resulted in superior track record 2

3. H.I.G. BioVentures – Background • Established dedicated life science focus in 2004 : • Approximately $350 Million in capital under management • $150 Million committed to existing portfolio companies • Currently investing out of H.I.G. BioVentures II • Experienced team focused exclusively on life science investing • Sectors: biopharmaceuticals, medical devices, diagnostics • H.I.G. BioVentures is the lead or co-lead investor in all investments • Active board representation in all companies 7

4. H.I.G. BioVentures – Team • Four senior investment professionals with collectively more than 30 years of venture capital investing experience • The H.I.G. BioVentures team has complementary backgrounds covering • Research and intellectual property • Product and process development • Business development • Operations • Finance • Sales and marketing • The H.I.G. BioVentures team also has a deep network of advisors, co-investors, corporate leaders, and technical consultants to leverage during due diligence and on behalf of portfolio companies 8

5. H.I.G. BioVentures – Industry Leadership • The H.I.G. BioVentures team is active with numerous academic and non-profit organizations • Boards of regional venture capital organizations: • Mid-Atlantic Venture Association (MAVA), FL Bio, GA Bio • Board and committee participation at national and regional conferences: • Bio-Investor Forum, Mid-Atlantic Bio, Southeast Bio Investor Forum, FL Venture Forum, Midwest Healthcare Investor Network • Board/advisory member for universities and entrepreneurial organizations : • Johns Hopkins Alliance, Maryland Technology Enterprise Institute, North Texas Enterprise Corporation, Texas Bioscience Council, Coulter Foundation (Emory, Ga. Tech), Sid Martin Biotechnology Incubator , Univ. Miami, Univ. Florida, Univ. Delaware Research Foundation, Virginia CIT Gap Fund Investment Board (affiliated with all Virginia Universities), Enterprise Florida • Not-for-profit boards : • Adventist Healthcare • Speaker/panelist : • Multiple national and regional conferences including BIO 2011 9

6. H.I.G. BioVentures – Aaron Davidson • Executive management at Eli Lilly and Company • Business development • Sales and marketing • Finance • General management • Venture capital experience at Ventures West • Leading Canadian healthcare investor • Operating history at Eli Lilly and Company and venture-backed SYN-X Pharma • Broad network in the pharmaceutical and biotechnology industry as well within the venture capital community. • M.B.A., Harvard Business School • B.Comm., McGill University adavidson@higbio.com (305) 379-2322 10

7. H.I.G. BioVentures – Bruce Robertson • Operating experience in both business development • and R&D • IGEN (acquired by Roche) • W.R. Grace • Venture capital experience at Toucan Capital and • GIV Venture Partners • Extensive relationships in the Mid-Atlantic’s financial, entrepreneurial and scientific/academic community • Well-connected within broad venture capital community • M.B.A., Harvard Business School • Ph.D., University of Delaware (Biomedical Engineering) • B.S.E., University of Pennsylvania brobertson@higbio.com (305) 379-2322 11

8. H.I.G. BioVentures – Michael Wasserman • Operating experience in entrepreneurial/venture- • backedbiotechnology • Founder and VP, Business Development at CELLutions Biosystems (acq.by Cedarlane Labs) • Background in early-stage technology transfer and development as • a Principal with Innovations Foundation • Clinical drug development and regulatory expertise based on tenure • at Advanced Therapeutics • Extensive network and deal flow resources in multiple geographies – Southeast, Midwest, Texas, Ohio, etc. • Ph.D., University of Toronto (Pharmacology) • B.S., McGill University mwasserman@higbio.com (305) 379-2322 12

9. H.I.G. BioVentures – Michael Gutch • Venture Capital experience at Lilly Ventures, • Eli Lilly and Company • Member of the Corporate Finance & Investment • Banking group at Eli Lillyand Company • Post-doctoral research experience at Cold Spring Harbor Labs and UCSF • Strong associations in the pharmaceutical and entrepreneurial communities and networked throughout the Midwest and Northwest • M.B.A., Indiana University • Ph.D., State University of New York (Molecular & Cellular Pathology) • B.S., Alfred University mgutch@higbio.com (305) 379-2322 13

10. H.I.G. BioVentures – Investment Strategy Investment Strategy Validation & Differentiation Areas of Unmet Medical Need Efficient Clinical Development Broad Source of Deal Flow • Extensive networks outside of CA and MA resulting in proprietary deal flow • Approximately 80% of investments in “secondary geographies” • Clear and meaningful clinical end-points • Short clinical development timelines to demonstrate proof-of-concept in appropriate patient groups • Scientific and clinical validation well established • Differentiation from current standard of care • Regulatory precedent established • Large, attractive markets • Significant unmet medical needs • Chronic or acute care high • value per patient disease • indications 14

11. H.I.G. BioVentures – Partnering with Industry • H.I.G. BioVentures values its long-term relationships with the pharma and medical device industries • H.I.G. BioVentures has: • Co-invested with corporate venture capital groups such as MedImmune Ventures, SROne, Novo A/S • Strong relationships with most pharmaceutical and med-tech corporate venture capital and business development groups • Ongoing discussions with CVC and BD groups on existing portfolio companies and new deal opportunities • H.I.G. BioVentures portfolio companies have recently completed transactions with: 17

12. H.I.G. BioVentures – Summary • Dedicated to investing in high potential life sciences companies • Team of experienced investment professionals with deep domain knowledge • Proprietary deal flow developed through a broad relationship network • Ability to leverage the more than 200 investment professionals across the H.I.G. Capital platform • Building business relationships with pharmaceutical, biotechnology, and medical device companies 18

13. Questions?