David Tierney Joins Thomas McNerney

David Tierney has joined Thomas, McNerney & Partners as an entrepreneur-in-residence. He previously was president and CEO of Valera Pharmaceuticals Inc., which was acquired by Indevus Pharmaceuticals.

PRESS RELEASE

Thomas, McNerney & Partners, LLC, a health care venture capital firm that invests in life science and medical technology companies, today announced that David S. Tierney, M.D., has joined as an Entrepreneur-in-Residence in the firm's Connecticut office. Most recently, Dr. Tierney was president and chief executive officer of Valera Pharmaceuticals, Inc., a fully-integrated specialty pharmaceutical and drug delivery company, which was acquired by Indevus Pharmaceuticals.

“David's background is perfect for this role. He has experience as a chief executive with an entrepreneurial company, and also as a drug developer in both specialty and mainstream markets,” said Alex Zisson, partner. “We're looking forward to working with David on ideas for new companies and potential investments.”

Dr. Tierney has more than 18 years of drug development experience, most recently as chief executive officer of Valera Pharmaceuticals, Inc. Prior to joining Valera, he was president of Biovail Technologies, overseeing all research, development, clinical and regulatory affairs. Prior to Biovail, Dr. Tierney was senior vice president, drug development for Roberts Pharmaceuticals, which was acquired by Shire plc. He began his pharmaceutical career at Elan Corporation where he spent eight years in various drug development roles. Dr. Tierney is also a member of the board of directors of Catalyst Pharmaceuticals Partners, Inc, Nexmed Inc and serves as chairman of the board of directors of Bioject Inc.

“Thomas, McNerney & Partners has a great platform in biopharmaceuticals,” said Dr. Tierney. “The partners have many contacts in industry and academia, and I'm confident that I'll be able to add value to their investment process while we work together to identify my next operating role.”

About Thomas, McNerney & Partners

Thomas, McNerney & Partners is a health care venture capital firm with approximately $600 million under management focused on investing in life science and medical technology companies at all stages of development. In addition to helping entrepreneurs launch companies with seed and early stage funding, the firm provides growth capital to emerging companies to advance clinical development or for product commercialization. Thomas, McNerney & Partners also is involved in spinning out products and divisions from major medical device and pharmaceutical companies, consolidating companies through roll-up strategies and participating in structured financings for public companies as well as recapitalizations. The firm is targeting investments in the pharmaceutical, medical device, biotechnology and diagnostic sectors and in other areas utilizing medical technology innovation. The firm has offices in Stamford, Minneapolis and San Francisco. For further information, please visit http://www.tm-partners.com.