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PANORAMA CAPITAL CLOSES ITS INAUGURAL FUND

Focus on Early to Mid-stage Life-Sciences and Technology Ventures

MENLO PARK, Calif. – April 29, 2008 – Panorama Capital LLC today announced it has closed Panorama Capital L.P., a $240 million venture capital fund targeting life-sciences and technology companies. After a long history of successful investing over numerous fund cycles, this fund marks the first for the Panorama team as an independent brand. The premiere fund will be invested in four major areas: Life Sciences, Internet, Semiconductors, and Internet Infrastructure & Services. Panorama, which has already made six new investments from the fund, has total funds under management in excess of $700 million.

“Times of economic volatility have always produced for us game-changing companies that make this a great time to be in the venture capital business with a new fund,” said Chris Albinson, managing director of Panorama Capital. “Coupled with our love of disruptive market opportunities for creating value, our market insight, and our experience partnering with entrepreneurs to build exceptional companies, we at Panorama Capital foresee a lucrative future for investing.”

Since 1990, the Panorama team has consistently produced top-quartile returns, including successful exits from over 50 IPOs and M&A transactions. Recent exits include: Corus Pharma, Piramed Limited, Portal Player, Renovo Limited, Seattle Genetics, Sierra Logic, Tacit Networks, Valere Power, and Yipes Holdings.

Panorama’s investment professionals have extensive experience investing with entrepreneurs in companies at all stages of development. Four advisory boards augment the team’s investment network and are comprised of 80 members from industry-leading companies including AT&T, Agilent, Cisco, Facebook, Genentech, GigaOm, Google, Johnson & Johnson, Microsoft, Priceline, Rambus, Red Hat, Roche, Schering-Plough, TechCrunch, Texas Instruments, and Yahoo.

“Panorama Capital works attentively with us day after day supporting our vision for an innovative media enterprise,” said John Battelle, CEO of Federated Media. “From finding key members of the team, helping to shape the model and technology, and even acting as our corporate development team in key situations, my experience working with Panorama has been nothing short of excellent.”

“As our name suggests, we seek expansive opportunities across the investment horizon,” said Rod Ferguson, managing director of Panorama Capital. “Using our team-oriented approach, deep domain expertise and extensive business ecosystem as a roadmap to successful investing allows us to be effective investors throughout the life sciences and technology sectors.”

About Panorama Capital

Panorama Capital is a venture capital firm focused on life sciences and technology companies. Panorama Capital was founded in 2005 by: Srinivas Akkaraju M.D., Ph.D.; Christopher J. Albinson; Rodney A. Ferguson, J.D., Ph.D.; Shahan D. Soghikian; and Damion E. Wicker, M.D., along with a core team of investment professionals who worked together for many years. Together, this team has a singular focus: helping entrepreneurs build market-leading companies. Panorama invests in entrepreneurs and teams who share its values: a passion to build great companies; an unyielding focus on people and teamwork; and a commitment to integrity. Panorama’s philosophy is to make that same commitment to the teams it supports, over and above its financial investment, and to take a hands-on, highly collaborative approach to investing, bringing to each portfolio company the team's extensive operating and investing experience.

Press Contact:

Jasmine Harris, Antenna Group (for Panorama Capital)

415-977-1929, jasmine@antennagroup.com