Success Stories From Out-of-Area Investors:
Financing Research Triangle Companies

The most active out-of-state venture funds will discuss the success they’ve had investing in the Research Triangle region over the last 15 years. The panel will talk about strategies for sourcing deals and share their experiences with North Carolina companies. Speakers will discuss changes in the local entrepreneurial community over the last decade and a half as well as their perspective on the key strengths and issues in working with Research Triangle start-ups.

Speakers Include:

Moderator:

• Dennis Dougherty, General Partner, Intersouth Partners

Panelists:

• Brenda Gavin, Managing Partner, Quaker BioVentures
• Terry McGuire, Co-founder and Managing General Partner, Polaris Venture Partners

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Dennis Dougherty
General Partner, Intersouth Partners

Dennis Dougherty is the founding partner of Intersouth Partners, one of the nation’s most experienced early stage venture capital firms managing more than $500 million in six venture capital partnerships. Dennis holds primary responsibility for Intersouth’s life science portfolio, which includes companies in biopharmaceuticals, medical technology and agribusiness. Dennis has sourced and led over 25 of Intersouth’s investments. He has worked with companies from seed stage through IPO, including Sphinx Pharmaceuticals (LLY), Paradigm Genetics (PDGM) and Insmed Pharmaceuticals (INSM).

Dennis is a founder of the Council for Entrepreneurial Development (CED) and chairman of the first CED Venture conference. He serves as a member of the board of directors of the National Venture Capital Association. He has served on the steering committee of the Kauffman Fellows Program, the board of advisors to the North Carolina State

University Seed Fund, the Governor’s Biotechnology Steering Committee for the North Carolina Biotechnology Center and as Chairman of the SEBIO Annual Conference.

Prior to starting Intersouth in 1985, Dennis was an office managing partner and head of the small business unit for Touche Ross (now Deloitte & Touche). Before entering finance and accounting, he was in sales and marketing for petrochemicals and polymers for UNOCAL. He holds a B.A. from Oklahoma City University and completed postgraduate studies in accounting and finance at Duke University.

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Brenda Gavin
Managing Partner, Quaker BioVentures

Dr. Brenda Gavin is a founding partner of Quaker BioVentures. Previously, she was President of S.R. One, Limited (S.R. One), GlaxoSmithKline’s bioscience venture capital investment company and a general partner of EuclidSR Partners, an independent venture capital limited partnership focused on healthcare and information technology. Since its inception in 1985, S.R. One invested over $340 million in approximately 100 life sciences companies and 20 venture funds. Brenda was responsible for many of the direct venture and strategic investments made by S.R. One. She served as a board member or active board observer for many of these, including several North Carolina-based companies, such as Sphinx, Macronex and MicroMass Communications.

Prior to joining S.R. One in 1989, Brenda was Director of Business Development for SmithKline Beecham Animal Health Products. She started her career as an epidemiologist at the Centers for Disease Control and Prevention.

Brenda is a graduate of Baylor University where she majored in Biology. She received her Doctor of Veterinary Medicine from the University of Missouri and her Master of Business Administration from the University of Texas - San Antonio. Brenda is a former board member of The National Venture Capital Association and currently serves on the boards of Eximias Pharmaceutical Corporation, the Ben Franklin Technology Center of Southeastern Pennsylvania, the Ben Franklin Technology Development Authority, Innovation Philadelphia and BioAdvance (the Biotechnology Greenhouse Corporation of Southeastern Pennsylvania). She also serves on the advisory boards of the Pennsylvania State University Research Foundation and the Monell Institute.

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Terry McGuire
Co-founder and Managing General Partner, Polaris Ventures

Terry McGuire is a co-founder and managing general partner of Polaris Venture Partners based in the Boston office. Along with Steve Arnold and Jon Flint, he created Polaris in 1996. Terry focuses on investments in the life sciences. Prior to starting Polaris, Terry spent seven years at Burr, Egan, Deleage & Co. investing in early stage medical and information technology companies. Terry began his career in venture capital at Golder, Thoma and Cressey in Chicago.

Terry has co-founded three companies: Inspire Pharmaceuticals (ISPH) (www.inspirepharm.com); AIR (Advanced Inhalation Research, Inc.), acquired by Alkermes (ALKS) (www.alkermes.com) and MicroCHIPS (www.mchips.com).

Terry currently serves on the boards of the Thayer School of Engineering, Dartmouth College; the Private Equity and Entrepreneurship Center at the Amos Tuck School, Dartmouth College; the Whitehead Institute for Biomedical Research; the Advisory Board of the Arthur Rock Center for Entrepreneurship, Harvard Business School and the Massachusetts Biotechnology Council. He is a former board member of MassMEDIC.

Terry holds an M.B.A. from Harvard Business School, an M.S. in engineering from The Thayer School at Dartmouth College and a B.S. in physics and economics from Hobart College.