Frazier Healthcare, founded in 1991 to invest exclusively in healthcare, is a leading provider of growth equity and venture capital to emerging health care companies. Since raising its initial fund in 1991, Frazier Healthcare has raised seven private institutionally-backed investment funds with cumulative commitments across all seven funds of over $2 billion and investments in more than 150 health care companies. Currently, we are investing out of our seventh fund formed in 2013. The firm has financed several highly successful companies in the healthcare sector including Aspen Education Group, BARRX Medical, Bravo Health, Calistoga Pharmaceuticals, Calixa Pharmaceuticals, Cerexa, CHG Healthcare Services, Rigel, Threshold Pharmaceuticals, Tularik, XenoPort and Zeltiq Aesthetics. Of investments made through 2013, 30 have gone public and 57 have been sold in M&A transactions or through open market sales in the public markets. Frazier Healthcare is nationally known for its highly experienced investment team that brings to bear an impressive breadth of healthcare industry and investment experience and an outstanding network of contacts. The team is augmented by a large group of venture partners, operating partners and senior advisors, each of whom has a track record of success in one or more subsectors of the health care industry. The combined team has experience with virtually every aspect of establishing and developing a successful health care company including product development and launch, clinical trial design and implementation, academic research, clinical practice, operations, finance and business development. Entrepreneurs sponsored by Frazier Healthcare benefit from the team's collective experience, expertise and extensive networks to help them build successful companies.