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      <image:title>Portfolio</image:title>
      <image:caption>Frank has trouble remembering things.</image:caption>
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      <image:title>Portfolio</image:title>
      <image:caption>Jeff needs his back pain to go away.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/3f832e79-6c3e-4a95-abf2-3c2c2d724bdd/iStock_000057074882_reduced.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Martha needs to recover from her stroke.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1463023478703-CH6U2K7YT0HKP3XV4UCC/iStock_000078497143_reduced.jpg</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Susan needs to stop the ringing in her ears.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1568295180379-T1VNDEC53WYKX7S7N8Q7/Smaller+Icon4.png</image:loc>
      <image:title>Portfolio</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1581431967174-9F497JH8W9ZWKJXN80UE/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Inotrem has developed a new concept of immunomodulation that targets the TREM-1 pathway to control unbalanced inflammatory responses</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1631823355491-G1GP3GLLUYW07QHEKUDI/Mainstay+new.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Mainstay Medical (MSTY) is commercializing an implantable neurostimulation system for people with disabling Chronic Low Back Pain (CLBP).</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1631199179005-5Q3XUV4K3QGVBO0ZK2K0/Calypso.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Calypso Biotech is an immunotherapy biotech company, spin-off from Merck Serono, that discovers and develops monoclonal antibodies for the treatment of immune pathologies with large unmet medical needs. Novartis acquired Calypso in Jan 2024 for up to $425M</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/9f434ee9-7a22-4787-8f6e-5a6f51066cf9/Ermium.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Ermium Therapeutics is a biotech company developing functionally selective immunomodulators targeting CXCR4 for auto-immune disease indications, particularly interferonopathies, including SLE.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1603223647959-R8EK6UYYPDAIOK86TJTH/PRIOTHERA+Logotype.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Priothera is developing an innovative immune modulator to enhance the curative potential of allogeneic Hematopoietic Stem Cell Transplantation (HSCT) in patients</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1616422536855-XK6SA8U8EMILYHYPSO46/XyloCor.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>XyloCor Therapeutics is a biopharmaceutical company focused on the development of novel gene therapy for unmet needs in advanced coronary artery disease.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/261a1187-d2ba-4440-b121-03af99227f49/Corteria.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Corteria Pharmaceuticals is a spin off biotech company from Sanofi developing first-in-class drugs for the treatment of distinct heart failure subpopulations.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/8f9f4521-0de9-4639-b777-84ab991ba4b2/Dualyx.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Dualyx is a Belgium-based biotech company dedicated to the development of novel Treg based therapies to address the needs of patients with difficult-to-treat autoimmune diseases.</image:caption>
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      <image:title>Portfolio</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1473712477995-6R3WFCC6YUBYV1QLJ5YA/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Chrono developed a biologically timed transdermal drug delivery system with a behavioral support delivered via an app to help people manage hard-to-treat conditions. Their first application was smoking cessation. The company ceased operations in 2019.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1466176240786-I7PI2KH6N3WGIT0I7Y1U/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Using a proprietary collagen-based technology, Innocoll is developing a portfolio of products to treat post-operative pain and prevent post-surgical adhesions. Innocoll was listed on NASDAQ as INNL prior to its acquisition by Gurnet Point in 2017</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1517558159618-7156FL40FH61GPRO7YTE/Neuromod-Logo-for-Fountain-1080x200.jpg</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Using neuromodulation treatments, Neuromod is helping people with chronic and often debilitating tinnitus, informally called "ringing in the ears."</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1473712019452-AMZEC3H4MIIQWYJ77IKA/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Inflammasomes generate signals that cause immune cells to fight infections. Inflazome is developing novel treatments for inflammation-related diseases by precisely blocking unwanted inflammasome signals. Inflazome was sold to Roche Pharmaceuticals in 2020 for an upfront consideration of €380M and additional consideration in the form of milestone payments.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1483621094847-11EJOGAQCW7FC83SV0HR/NerreThera.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Developing a unique portfolio of neurokinin (NK) receptor antagonists, NeRRe Therapeutics is aiming to treat common debilitating respiratory and women's health conditions caused by neuronal hypersensitivity.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1492751409691-MVTVKIOK9Z0ORK4Z2UU8/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Velicept was developing solabegron, a highly differentiated B3 agonist for overactive bladder (OAB) and irritable bowel syndrome (IBS). The company ceased operations in 2020.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1506462113915-PIH67GNWKWQLVO4F276M/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>KaNDy Therapeutics was a UK based clinical-stage company focused on developing NT-814, a first-in-class, once daily, dual mechanism neurokinin-1,3 receptor antagonist. The medicine is being developed as a non-hormonal alternative to hormone replacement therapy for the treatment of postmenopausal symptoms (PMS). KaNDy was sold to Bayer Pharmaceuticals in 2020 for $425M up front and additional consideration in the form of milestone payments.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1524575312325-TDJJ0CON44PFZYWTVW5M/MMI+Portfolio.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Medical Microinstruments S.r.l. (MMI) is developing a novel robotic platform specifically designed for open microsurgery. The platform allows the surgeon to control two tiny articulated microinstruments that offer motion scaling and tremor elimination, improving surgical success rates and patient outcomes.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1519882819465-2UKYAFV5KLZWQOIOZVX9/Syndesi.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Syndesi Therapeutics was developing molecules that uniquely modulate the synaptic vesicle protein SV2A, which plays a central role in synaptic transmission. Regulating synaptic transmission represents a promising approach to treating Alzheimer’s Disease and other disorders with cognitive impairment. Syndesi was sold to Abbvie in 2022 for $130M up front and additional consideration of up to $870M based on achievement of development and commercial milestones</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1614633711610-TL06JZMS2OC500EHUPX7/Neurent+v.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Neurent Medical is developing a device to treat inflammatory diseases of the nasal cavities. The initial product offering reduces the primary symptoms of rhinitis, congestion and rhinorrhoea.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461195414893-MHUYWH140HDQNQ1DQSGI/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461192932811-NTPJGKQHW3QNJ7S5BI1J/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>With extensive experience in lipid science, Amarin is commercializing Vascepa, a novel therapeutic for the prevention and treatment of cardiovascular disorders. Fountain has exited this investment.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461192979590-PSN14N1MOM3C5XQH2UPR/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Before being acquired by Acorda Therapeutics for $525M in cash in October 2014, Civitas was applying its dry powder inhalation drug delivery technology to Parkinson’s treatments.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461194776074-EANBDT4UD16P4N1PJ1WV/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Genable developed a gene therapy platform to suppress and replace genes associated with Retinitis Pigmentosa. The company was acquired by Spark Therapeutics in March 2016.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1462293859318-7VZD3POOQ5T70OXVLZH5/image-asset.png</image:loc>
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      <image:caption>With a portfolio of unique interventional neurovascular devices, Neuravi is improving clinical outcomes for stroke patients. Johnson &amp; Johnson acquired the company in March 2017.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193451784-VKG9EW6QPCZM2D23Y251/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Mainstay Medical (MSTY) is commercializing an implantable neurostimulation system for people with disabling Chronic Low Back Pain (CLBP).</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193383586-O8K60S1AZMWWK8C21L7O/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Targeting the human immune system, Opsona developed drugs with wide applicability to conditions such as autoimmune and inflammatory diseases, solid organ transplantation and oncology. The company ceased operations in 2019.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193666740-LYFQB82NP9F4FQE8IOEG/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Aiming to help people undergoing vascular surgery, Vivasure Medical has developed a bioabsorbable technology delivered percutaneously to assist in vessel closure.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461206008263-E4HXS5MPUGQUBSGBINRR/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Cappella built and distributed a bifurcation stent to protect coronary sidebranch arteries during cardiac procedures. Now called ArraVasc Limited, they are focused on peripheral vascular products. This investment is inactive.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193413341-UEXJ6VZEJ2BQSRX4R7VD/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Leveraging oral small molecules, Trino Therapeutics was focused on treating and managing inflammatory indications such as inflammatory bowel disease (IBD). The company ceased operations in 2017.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461194416647-WD8MXBILCB9SUT7YD5T0/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>With an implantable infusion pump, Palyon Medical was treating chronic pain, spasticity and diseases of the central nervous system. The company ceased operations in 2015.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1568295180379-T1VNDEC53WYKX7S7N8Q7/Smaller+Icon4.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/3de9d668-ef90-44df-81af-547a0fc43d4d/Exciva.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Exciva is developing a groundbreaking therapy that effectively and safely addresses neuropsychiatric symptoms of dementia including agitation/aggression in Alzheimer’s disease dementia</image:caption>
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      <image:title>Portfolio</image:title>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1581431967174-9F497JH8W9ZWKJXN80UE/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Inotrem has developed a new concept of immunomodulation that targets the TREM-1 pathway to control unbalanced inflammatory responses</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1631823355491-G1GP3GLLUYW07QHEKUDI/Mainstay+new.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Mainstay Medical (MSTY) is commercializing an implantable neurostimulation system for people with disabling Chronic Low Back Pain (CLBP).</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1631199179005-5Q3XUV4K3QGVBO0ZK2K0/Calypso.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Calypso Biotech is an immunotherapy biotech company, spin-off from Merck Serono, that discovers and develops monoclonal antibodies for the treatment of immune pathologies with large unmet medical needs. Novartis acquired Calypso in Jan 2024 for up to $425M.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/9f434ee9-7a22-4787-8f6e-5a6f51066cf9/Ermium.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Ermium Therapeutics is a biotech company developing functionally selective immunomodulators targeting CXCR4 for auto-immune disease indications, particularly interferonopathies, including SLE. The company ceased operations in 2024.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1603223647959-R8EK6UYYPDAIOK86TJTH/PRIOTHERA+Logotype.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Priothera is developing an innovative immune modulator to enhance the curative potential of allogeneic Hematopoietic Stem Cell Transplantation (HSCT) in patients</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1616422536855-XK6SA8U8EMILYHYPSO46/XyloCor.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>XyloCor Therapeutics is a biopharmaceutical company focused on the development of novel gene therapy for unmet needs in advanced coronary artery disease.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/261a1187-d2ba-4440-b121-03af99227f49/Corteria.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Corteria Pharmaceuticals is a spin off biotech company from Sanofi developing first-in-class drugs for the treatment of distinct heart failure subpopulations.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/8f9f4521-0de9-4639-b777-84ab991ba4b2/Dualyx.png</image:loc>
      <image:title>Portfolio - Make it stand out</image:title>
      <image:caption>Dualyx is a Belgium-based biotech company dedicated to the development of novel Treg based therapies to address the needs of patients with difficult-to-treat autoimmune diseases.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461195397783-O79HO5S40PTHDEE4AH4S/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1473712477995-6R3WFCC6YUBYV1QLJ5YA/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Chrono developed a biologically timed transdermal drug delivery system with a behavioral support delivered via an app to help people manage hard-to-treat conditions. Their first application was smoking cessation. The company ceased operations in 2019.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1466176240786-I7PI2KH6N3WGIT0I7Y1U/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Using a proprietary collagen-based technology, Innocoll is developing a portfolio of products to treat post-operative pain and prevent post-surgical adhesions. Innocoll was listed on NASDAQ as INNL prior to its acquisition by Gurnet Point in 2017</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1517558159618-7156FL40FH61GPRO7YTE/Neuromod-Logo-for-Fountain-1080x200.jpg</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Using neuromodulation treatments, Neuromod is helping people with chronic and often debilitating tinnitus, informally called "ringing in the ears."</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1473712019452-AMZEC3H4MIIQWYJ77IKA/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Inflammasomes generate signals that cause immune cells to fight infections. Inflazome is developing novel treatments for inflammation-related diseases by precisely blocking unwanted inflammasome signals. Inflazome was sold to Roche Pharmaceuticals in 2020 for an upfront consideration of €380M and additional consideration in the form of milestone payments.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1483621094847-11EJOGAQCW7FC83SV0HR/NerreThera.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Developing a unique portfolio of neurokinin (NK) receptor antagonists, NeRRe Therapeutics is aiming to treat common debilitating respiratory and women's health conditions caused by neuronal hypersensitivity.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1492751409691-MVTVKIOK9Z0ORK4Z2UU8/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Velicept was developing solabegron, a highly differentiated B3 agonist for overactive bladder (OAB) and irritable bowel syndrome (IBS). The company ceased operations in 2020.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1506462113915-PIH67GNWKWQLVO4F276M/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>KaNDy Therapeutics was a UK based clinical-stage company focused on developing NT-814, a first-in-class, once daily, dual mechanism neurokinin-1,3 receptor antagonist. The medicine is being developed as a non-hormonal alternative to hormone replacement therapy for the treatment of postmenopausal symptoms (PMS). KaNDy was sold to Bayer Pharmaceuticals in 2020 for $425M up front and additional consideration in the form of milestone payments.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1524575312325-TDJJ0CON44PFZYWTVW5M/MMI+Portfolio.png</image:loc>
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      <image:caption>Medical Microinstruments S.r.l. (MMI) is developing a novel robotic platform specifically designed for open microsurgery. The platform allows the surgeon to control two tiny articulated microinstruments that offer motion scaling and tremor elimination, improving surgical success rates and patient outcomes.</image:caption>
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    <image:image>
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      <image:caption>Syndesi Therapeutics was developing molecules that uniquely modulate the synaptic vesicle protein SV2A, which plays a central role in synaptic transmission. Regulating synaptic transmission represents a promising approach to treating Alzheimer’s Disease and other disorders with cognitive impairment. Syndesi was sold to Abbvie in 2022 for $130M up front and additional consideration of up to $870M based on achievement of development and commercial milestones</image:caption>
    </image:image>
    <image:image>
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      <image:caption>Neurent Medical has developed Neuromark, an innovative, clinically proven procedure designed to safely target the root cause of CR—overactive posterior nasal nerves (PNN). By using low-power energy to disrupt these nerves, NEUROMARK provides durable relief from persistent symptoms</image:caption>
    </image:image>
    <image:image>
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      <image:title>Portfolio</image:title>
    </image:image>
    <image:image>
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      <image:caption>With extensive experience in lipid science, Amarin is commercializing Vascepa, a novel therapeutic for the prevention and treatment of cardiovascular disorders. Fountain has exited this investment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461192979590-PSN14N1MOM3C5XQH2UPR/image-asset.png</image:loc>
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      <image:caption>Before being acquired by Acorda Therapeutics for $525M in cash in October 2014, Civitas was applying its dry powder inhalation drug delivery technology to Parkinson’s treatments.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Portfolio</image:title>
      <image:caption>Genable developed a gene therapy platform to suppress and replace genes associated with Retinitis Pigmentosa. The company was acquired by Spark Therapeutics in March 2016.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1462293859318-7VZD3POOQ5T70OXVLZH5/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>With a portfolio of unique interventional neurovascular devices, Neuravi is improving clinical outcomes for stroke patients. Johnson &amp; Johnson acquired the company in March 2017.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193451784-VKG9EW6QPCZM2D23Y251/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Mainstay Medical (MSTY) is commercializing an implantable neurostimulation system for people with disabling Chronic Low Back Pain (CLBP).</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193383586-O8K60S1AZMWWK8C21L7O/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Targeting the human immune system, Opsona developed drugs with wide applicability to conditions such as autoimmune and inflammatory diseases, solid organ transplantation and oncology. The company ceased operations in 2019.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193666740-LYFQB82NP9F4FQE8IOEG/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Aiming to help people undergoing vascular surgery, Vivasure Medical has developed a bioabsorbable technology delivered percutaneously to assist in large vessel closure. The company was acquired by Haemonetics (NYSE:HAEM) in January 2026 for up to €185M, €100M of which was paid on closing.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461206008263-E4HXS5MPUGQUBSGBINRR/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Cappella built and distributed a bifurcation stent to protect coronary sidebranch arteries during cardiac procedures. Now called ArraVasc Limited, they are focused on peripheral vascular products. This investment is inactive.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461193413341-UEXJ6VZEJ2BQSRX4R7VD/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>Leveraging oral small molecules, Trino Therapeutics was focused on treating and managing inflammatory indications such as inflammatory bowel disease (IBD). The company ceased operations in 2017.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/56fd4fc09f726631f41fd683/1461194416647-WD8MXBILCB9SUT7YD5T0/image-asset.png</image:loc>
      <image:title>Portfolio</image:title>
      <image:caption>With an implantable infusion pump, Palyon Medical was treating chronic pain, spasticity and diseases of the central nervous system. The company ceased operations in 2015.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Team - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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