Cara Therapeutics is a biotechnology company focused on developing novel therapeutics to treat pain and inflammation. The lead product is a kappa opioid receptor agonist that provides potent analgesia without CNS side effects.

Cempra Pharmaceuticals is a therapeutic company focused on developing antibiotics to fight resistant bacteria in two key treatment areas, community acquired pneumonia (CAP) and methicillin resistant staphylococcus aureus (MRSA) infections. The company is currently conducting Phase 1 trials on its next generation macrolide product (CEM-101) for 1st line treatment in CAP, and a Phase 2/3 trial in complicated skin and soft structure infections (cSSSI) for its oral MRSA agent (CEM-102).

Diasome Pharmaceuticals is developing low dose oral insulin for the treatment of diabetes. Using its HDV delivery technology, the company is able to target insulin to the liver and normalize hepatic glucose storage and release.

Proteon Therapeutics is a cardiovascular therapeutic company focused on developing PRT-201, a recombinant human elastase for clinical use as a long lasting vasodilator. The company has recently begun PRT-201 Phase 1 clinical trials to increase the dilation and patency of arteriovenous grafts (AVGs) created to provide vascular access to kidney dialysis patients. The company has signed an option deal with Novartis to acquire the company based upon the successful completion of Phase 2 clinical milestones.

Sopherion Therapeutics is a cancer therapeutic company focused on the clinical development of Myocet, which in combination with two other agents gives dramatic results in first line metastatic breast cancer.  The company is completing a Phase 3 clinical trial, which will produce results in late 2009.

Barrier Therapeutics (NASDAQ: BTRX) is a specialty pharmaceutical company developing and commercializing products in the field of dermatology. The Company was purchased by Steifel Laboratories.