EMAIL DETAILS

What's the minimum we could participate at if deemed worthy?

Devon Archer
646 436 3745

On Feb 24, 2013, at 11:30 AM, "Neil Callahan \(Rosemont Seneca\)" <ncallahan@rosemontseneca.com> wrote:

> Right, good exposure to an interesting space. Any angle we can propose on the advisory side? Super regulated topic – success or failure hinges on policy and regulation here for sure (i.e., gove research $, insurance coverage for therapies, permissibility of therapies, IP rights/public good, etc.)
>
> Neil Callahan
> Rosemont Seneca Partners
> 401 Greenwich Street, Suite 300
> New York, New York 10013
> 917-945-9516 (m)
> 866-749-8879 (f)
> www.rosemontsenecatech.com
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>
> From: John DeLoche [mailto:jdeloche@rosemontseneca.com]
> Sent: Sunday, February 24, 2013 11:20 AM
> To: Neil Callahan
> Cc: Hunter Biden; Eric Schwerin; Devon Archer; Rob Walker
> Subject: Fwd: adult stem cell opp
>
> Here is the dataroom access. this may be too capital intensive for us. we need to be respectful to Trent obviously. let's discuss this week.
>
> ---------- Forwarded message ----------
> From: Trent Gegax <trent.gegax@gramercyfund.com>
> Date: Sat, Feb 23, 2013 at 3:42 PM
> Subject: Re: adult stem cell opp
> To: John DeLoche <jdeloche@rosemontseneca.com>
> Cc: Greg Arrese <garrese@scogcap.com>
>
>
> Sounds good. Here you go. I have permission to pass access to you. Happy wknd.
>
>
> http://stemedica-casestudies.imagebeam.com/docs
> username: smuser
> password: u891mnb!
>
>
>
> T. Trent Gegax
> 917.592.1686
> www.gramercyfund.com
> @gegax
>
>
> On Feb 23, 2013, at 5:38 PM, "John DeLoche" <jdeloche@rosemontseneca.com> wrote:
>
> Hi Trent,
>
> Thanks for thinking of us. I would like to learn more. Is there a slide deck w financials you could send. Happy to take a look in the data room.
>
> Best,
>
> John
>
> Sent from my iPad
>
> On Feb 23, 2013, at 2:14 PM, Trent Gegax <trent.gegax@gramercyfund.com> wrote:
>
> howdy, john. yesterday my father and I had an interesting update call with one of our life-sciences portfolio cos, san diego-based stemedica, in the adult stem cell space. they're finishing a big 'rolling raise' and are down to their last 7m (we're considering adding to our position) of their 72m preferred raise (148m pre-money, 220m post-money).
>
> you came to mind because stemedica feels like it's about at the stage that counsyl was at when you introduced it to us, tho it's taken stemedica longer to develop than counsyl (we initially invested in 2007). maybe chalk that up to being in the controversial stem cell space, maybe not.
>
> any rate, let me know if you want access to their data room and, if further interested, i'll intro you to stemedica ceo maynard howe, who started two other life sciences cos that we invested in and that went ipo. my father tom is friends with maynard and has known the prolific howe family for decades.
>
> ceo maynard expects stemedica to be cashflow poz q313; their first big pharma deal to give them a 1b valuation; and midcase valuation in 5 yrs to be 3b. maynard has invested millions of his own money and plans to return all of investors money via dividends within two yrs.
>
> ip is stemedica's edge. the short story on the extension of the current raise is that they had an ip discovery that they decided to button down rather than use raised funds to ramp sales.
>
> interesting recent developments include aggressive interest from tx gov perry, a stem cell fan who wants tx to unseat ca as the stem cell capital of the u.s.; a big addition to the board; and significant jv with leading public life-sciences firm.
>
> let me know if you'd like to see more.
>
> best,
> trent
>
> T. Trent Gegax
> www.gramercyfund.com
> 917.592.1686
> @gegax
>
>
>
>
>
> --
> John DeLoche
> Managing Director
> Rosemont Seneca Technology Partners
> One Market, Spear Tower, 36th Floor
> San Francisco, CA 94105
> office: 415 293 8147
> mobile: 415 793 7070
>
> This email communication is privileged and confidential and is intended only for the individuals or entities named above. Any unauthorized dissemination of any of the contents of this email is strictly prohibited. If you are not the intended recipient, please do not read, copy, use or disclose to others the contents of this communication. Please notify the sender that you have received this e-mail in error and then delete the e-mail.
> =2