Two River

Two River Group Holdings is a New York-based venture capital firm and merchant bank focused on the life science sector. It specializes in investments in life science, biotechnology, and in firms focused on developing preventative and therapeutic technologies for a broad spectrum of disease areas including oncology, cardiovascular disease, neurological disorders, and companion animal health care.[2]

Two River
Limited liability company
IndustryPrivate equity, venture capital
Founded2004
FounderJoshua Kazam
David Tanen
Headquarters
New York City
,
New York
Key people
Arie Belldegrun (Chairman)[1]
ProductsVenture capital, equity investment, investment management
Websitewww.tworiver.com

Two River was founded in September 2004 by partners Joshua Kazam, Peter Kash, David Tanen and Benjamin Bernstein. Dr. Arie Belldegrun joined the firm in 2008 as Chairman and Partner.[3]

The firm has offices in New York City and Los Angeles.

Portfolio

Currently, Two River holds equity stakes in the following life science companies:[4]

  • Allogene Therapeutics - biotechnology company.
  • Breakthrough Properties - life science real estate development company
  • Hubble - brand of contact lenses sold directly to consumers through an e-commerce, subscription-only model.
  • Kronos Bio - research and development of therapies that modulate historically recalcitrant cancer targets.
  • Neogene Therapeutics - biomedical company developing T cell therapies that target mutated proteins (neo-antigens) in cancer.
  • UroGen Pharma - clinical-stage biopharmaceutical company developing therapies with a focus on uro-oncology.

Past holdings:

  • Arno Therapeutics - clinical-stage biopharmaceutical company that is developing products for the treatment of cancer.
  • Capricor Therapeutics (- clinical stage biotechnology company developing biological therapies for cardiac and other serious medical conditions.
  • Cell Design Labs (acquired by Gilead Sciences) - private biotherapeutics company pioneering breakthrough science to develop disruptive cell-based therapies for cancer and other devastating diseases. Cell Design Labs leverages the power of the body’s immune system to develop smart, living therapies with the capability to treat our most challenging diseases with unprecedented power, precision, safety and durability.
  • Edgemont Pharmaceuticals - privately held pharmaceutical company in the field of neuroscience.
  • Kite Pharma (acquired by Gilead Sciences) - clinical-stage biopharmaceutical company focused on developing engineered autologous cell therapy products for the treatment of cancer.
  • Sienna Biopharmaceuticals - discovery, clinical development and commercialization of products in dermatology and aesthetics
  • Velcera (acquired by Perrigo) - develops pet medicines in pain management, anti-allergy and parasiticides
  • Veterinary Prime - pet nutrition products for dogs and cats, sold through veterinarians.

Business history
  • In May 2013, Kite Pharma completed a $35 million financing of Series A preferred stock.[5]
  • In October 2013, Arno Therapeutics completed a $30.7 million financing of equity.[6]
  • In November 2013, Nile Therapeutics completed a merger with Capricor to form Capricor Therapeutics. Capricor has become a wholly owned subsidiary of Nile.[7]
  • In February 2014, Velcera was acquired by Perrigo for $160 million.[8]
  • In April 2014, Kite Pharma completed a $50 million mezzanine private financing of convertible notes,[9] and in May, the company filed a registration with the SEC for an IPO of its common stock, with a proposed maximum offering price of $115 million. The company listed on the NASDAQ Global Market under the symbol “KITE.”[10][11] The company planned to raise $78 million by offering 6 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Kite Pharma would command a market value of $548 million.[12][13] On 20 June 2014, 7.5 million shares of Kite Pharma, priced at $17 a share began trading on the NASDAQ, indicating a market valuation of $632.4 million for the company.[14][15]
  • In March 2017, it was reported that Two River has participated in a $16.5 million Series A round of funding for Hubble.[16]
  • On October 11, 2018, Allogene Therapeutics raised $324 million in an initial public offering on the NASDAQ, listing under the ticker "ALLO".[17][18]

References
  1. "Two River Group Holdings, LLC: Board Committees". Businessweek. Retrieved 9 December 2013.
  2. "Company Overview of Two River Group Holdings, LLC", Businessweek. Retrieved on 26 June 2013.
  3. "Dr. Arie S. Belldegrun, MD, FACS Joins Two River Group Holdings as Chairman and Partner". FierceHealthcare. 29 April 2008. Retrieved 15 June 2018.
  4. "Portfolio", Two River. Retrieved on 18 October 2019.
  5. Elliott, Peter (15 May 2013). "Kite Pharma Completes $35 Million Series A Preferred Stock Financing" Archived 2014-04-30 at the Wayback Machine. iStreetWire. Retrieved 26 June 2013.
  6. "Arno Therapeutics Completes $30.7 Million Financing, Recapitalization and 1-for-8 Reverse Stock Split " The Wall Street Journal (New York). 30 October 2013. Retrieved 31 October 2013.
  7. "Capricor and Nile Therapeutics Complete Merger to Form Capricor Therapeutics, Inc. ". Bloomberg. 21 November 2013. Retrieved 9 December 2013.
  8. Ail, Pallavi (1 February 2014). "Perrigo expands further into pet care with Velcera deal". Reuters. Retrieved 29 April 2014.
  9. "Kite Pharma, Inc. Completes $50 Million Mezzanine Private Financing". MarketWatch. 28 April 2014. Retrieved 29 April 2014.
  10. "Kite Pharma (KITE) Files $115M IPO". StreetInsider. 19 May 2014. Retrieved 19 May 2014.
  11. "Kite Pharma Files Registration Statement for Proposed Initial Public Offering". Digital Journal. 19 May 2014. Retrieved 19 May 2014.
  12. Dion, Don (18 June 2014). "IPO For Kite Pharma Might Fly High". Seeking Alpha. Retrieved 18 June 2014.
  13. "12 US IPOs planned for the week of Jun 16". NASDAQ. 16 June 2014. Retrieved 18 June 2014.
  14. Calia, Michael (20 June 2014). "Kite Pharma Soars Above IPO Price on First Day of Trading". The Wall Street Journal. Retrieved 21 June 2014.
  15. "Kite Pharma (KITE) IPO Surges Higher". StreetInsider. 20 June 2014. Retrieved 21 June 2014.
  16. Kolodny, Lora (7 March 2017). "Hubble raises $16.5 million to deliver affordable daily contact lenses". TechCrunch. Retrieved 20 March 2017.
  17. Nisen, Max (11 October 2018). "Allogene’s Monster Biotech IPO Defies Market Rout". Bloomberg. Retrieved 12 October 2018.
  18. Mukherjee, Sy (11 October 2018). "Why Cancer Biotech Allogene Just Scored an Eye Popping $324 Million IPO" Fortune. Retrieved 12 October 2018.
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