MetaMorphix Inc

MetaMorphix, Inc. is a privately-held life science company commercializing biotechnology that will improve the food supply and human health. It operates under an exclusive license with the Celera Genomics Group of Applera Corporation.

Challenge
Having established collaborations with leading processors and breeders in the cattle, swine and poultry industries, including Cargill and Monsanto, and with Wyeth, Inc. for human therapeutic applications, the company needed additional working capital to meet its licensing obligations.

Solution
TerraNova was retained exclusively in the fall of 2005 and closed an $8,000,000 private placement in December 2005 with private equity funds and high net worth individuals. MetaMorphix is now well positioned for a 2007 IPO.


Private Equity & Debt

Overview
At TerraNova Capital Partners we look for managers who are commercializing new breakthrough products in their industries or family owned or closely held businesses that are profitable and are looking to get to the next level of success. Uncovering a great technology or hidden wealth in existing businesses, however, is only the first step. When TerraNova makes the decision to invest, we roll up our sleeves and go to work. We manage funds that we co-invest with the capital of our clients, and we add value over and above our financial commitment by mobilizing an extensive network of investors and professionals to get the job done.

Working "with" Management

The TerraNova Merchant Banking team labors alongside management to fill the gaps in a company's business plan so that it can grow to the next level and beyond. Seasoned in start ups, turnarounds and transformations, our principals and advisors have successfully faced the daunting challenges of rapid growth, compressed product life cycles and the determination required to realign a family owned business. In addition to our in-house resources, we know where to find the right talent to complement current management. In partnership with entrepreneurs, we dedicate ourselves to achieving the true potential of a company's emerging technology, service or product. A team of talent can outperform an individual every time. We believe that entrepreneurs working with the TerraNova team significantly improve their enterprise's chances of success. When the time is right for an initial public offering, we match our client companies with top tier investment banks. Alternatively, we negotiate the sale of an investment or arrange an alliance with a strategic partner. At TerraNova Capital Partners our primary reward comes from the capital appreciation of our investments in our portfolio companies. We do well when our clients, investors and entrepreneurs alike, succeed.

Intellectual Property

We carefully sift through opportunities for the right combination of commercial traction and proprietary know-how. Key elements may include patents, trademarks, copyrights, science, engineering, or marketing strategies. Through rigorous due diligence, including access to leaders in the scientific and engineering community, we identify and correct deficiencies before investing. And we help our companies forge strategic relationships to leverage their intellectual property.

Financial Integrity
As bankers skilled in corporate finance, we add value by creating a sound financial structure. Our companies must have the financial flexibility to respond aggressively to market opportunities and to weather unexpected storms. We also require rigorous financial controls and reporting integrity. Ultimately, the proper financial structure enables our companies to tap new sources of capital from strategic partners or through the private equity markets.

Management
The transition from start-up to a mature enterprise challenges even the most seasoned technology focused entrepreneur. We are eminently qualified to guide our clients through this critical period. The Merchant Banking team identifies and recruits new management talent where a company lacks depth. We introduce our companies to world class lawyers, accountants, bankers, and other professional services. Through our international network of business relationships, we help them to expand globally. Our active advisory board persistently contributes ideas and tirelessly puts expertise to work for our companies and our clients.

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