Renaissance Venture Capital Fund Invests in 5 AM Ventures

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ANN ARBOR, Mich., December 8, 2009 – Renaissance Venture Capital Fund, the venture capital fund-of-funds created by some of Michigan’s largest organizations, announced today that it has invested in 5AM Ventures III, L.P., a nationally prominent life science venture capital fund.

“In addition to investing in the strongest Michigan-based venture capital funds, a goal of the Renaissance Venture Capital Fund is to attract leading national venture capital funds to become active in Michigan,” said Chris Rizik, CEO of the Fund. “And we’re pleased to now be making an investment in 5AM Ventures, one of the nation’s leaders in drug development and medical technology investing. 5AM has a sterling reputation for investing in and supporting early-stage companies in those sectors, and their skills dovetail well with our region’s strengths and growing success in creating innovative life science companies.”

Founded in 2002 and located in Menlo Park, California, and Waltham, Massachusetts, 5AM has established a track record of success in the life science field, with particular emphasis on corporate technology spinouts and technologies that can be brought to market with success relatively quickly. 5AM will continue to focus on early-stage life science companies with the majority of the investments being made in the discovery and development of novel therapeutics. A meaningful portion of the fund will also be invested in companies developing diagnostics, materials, medical devices, and reagents.

“We are pleased to establish a formal relationship with Renaissance Venture Capital Fund and look forward to leveraging their connections in the State of Michigan. Michigan has long been a state known for impressive research, but more recently has established itself as an increasingly strong region for venture capital investing and start-up companies. While we have actively considered Michigan investment opportunities in the past, we are confident that Renaissance’s network of entrepreneurs and venture capitalists will increase the quality of our deal flow in the State,” said Andy Schwab, Founder & Managing Partner of 5AM Ventures.

5AM Ventures is the fourth investment made by the Renaissance Venture Capital Fund, which was formed in December 2008, by a consortium of some of Michigan’s leading corporations.

About the Renaissance Venture Capital Fund:

The Renaissance Venture Capital Fund is a fund of funds that supports the growth of venture capital in Michigan while serving as a bridge between Michigan’s emerging innovation company community and its strong industrial and commercial base. Formed out of the groundbreaking “Road to Renaissance” initiative of Detroit Renaissance, the Renaissance Venture Capital Fund received its initial support and investment from some of Michigan’s most important organizations. Through its investment in top tier venture firms that are active in Michigan, as well as its own co-investments in emerging Michigan companies, the Renaissance Venture Capital Fund is helping to drive forward both innovation and growth of emerging companies in the region. And it is again proving that Michigan, with its unique combination of scientific, engineering and business talent, is a great place in which to invest. http://www.renvcf.com

About 5AM Ventures

Founded in 2002, 5AM Ventures is focused on actively investing in next-generation life science companies. Formed by successful industry executives and experienced venture capitalists, the 5AM team takes a focused, hands-on approach to company building. 5AM portfolios are well-diversified, including spinouts from established life science companies, innovative platform technologies and companies developing near-term products. With over $400 million under management, 5AM has invested in 27 early-stage companies and is currently investing 5AM Ventures III, LP, a $200M fund. For more information, please visit www.5amventures.com.

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