Many healthy returns

THE CAST
Peter Barrett, senior partner, Atlas Venture

Barrett came aboard early stage healthcare specialist Atlas Venture two years ago, after co-founding and serving as executive vice president and chief business officer at Celera Genomics, one of the pioneers in the mapping of the human genome. Barrett helped the biotechnology company go public in 1999, and subsequently led Celera's expansion into drug discovery, including the acquisition of Axys Pharmaceuticals in 2001.

Ansbert Gadicke, founding general partner, MPM Capital

With a resume that boasts various research positions in biochemistry and molecular biology at Harvard University, the German Cancer Research Center and the Whitehead Institute at MIT, Gadicke is not only a founding partner of MPM Capital, he also started its asset management business in 1996. Last year, the early- through late-stage life sciences firm sold its hepatitis- and HIVtreatment company Idenix to Novartis Pharmaceuticals in a deal that garnered $255 million in stock sales and could pay $357 million more if Idenix's hepatitis drug candidates reach certain milestones.

Jim Garvey, CEO and managing general partner, Schroder Ventures Life Sciences

Garvey oversees his firm's approximately $900 million programme in startup, early-stage and expansion capital investments. Last summer, Schroder closed its third fund on $402 million, making it one of the most successful life sciences fundraisings of 2003. Garvey's 18-year operating record includes managing Allstate's healthcare investment activity as well as serving as managing director for the insurer's $600 million venture capital division.

Jonathan Goldstein, managing director, TA Associates

Before joining TA Associates in 1986, Goldstein worked in the protein chemistry and cell biology departments of global pharmaceuticals company Biogen. In December, he took part in TA's investment in Cypress Pharmaceutical, a provider of generic drugs, as the growth equity and buyout firm looks to address poor product delivery and customer services in the US generic pharmaceuticals sector. TA has a capital base of $5 billion, over 40 investment professionals and offices in Boston, Menlo Park, London, and Pittsburgh.

Michael Lytton, general partner, Oxford Bioscience Partners

Lytton started at Oxford Bioscience Partners in 2000 and is currently a member of the Research and Technology Development Committees of the Beth Israel Deaconess Medical Center – an affiliated Harvard teaching hospital – and the Center for Blood Research at Harvard Medical School. His firm, which manages more than $800 million in committed capital, funds early-stage and startup bioscience and healthcare companies. This past December, Oxford's investment in heart-valve developer Percutaneous Valve Technologies panned out well when publicly traded Edwards Lifesciences agreed to buy the company for $125 million.

Russ Ray, managing partner, HLM Venture Partners

Ray became managing partner at HLM Venture Partners in 2003 after an impressive tour that included serving as managing director and global co-head of healthcare investment banking at Credit Suisse First Boston. And prior to CSFB, Ray spent twelve years as managing director and global head of healthcare investment banking at Deutsche Bank and its predecessor entities. HLM currently manages $360 million in capital and provides venture capital to emerging healthcare players, as well as business services and technology companies.