# Two River

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{{Use mdy dates|date=July 2022}}
{{Short description|New York-based venture capital firm and merchant bank}}
{{about|the venture capital firm|other uses|Two Rivers (disambiguation)}}
{{Infobox company
| name             = Two River
| logo             = 
| caption          =
| trading_name     = 
| native_name      = 
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| type             = [Limited liability company](/source/Limited_liability_company)
| traded_as        = 
| industry         = [Private equity](/source/Private_equity), [venture capital](/source/venture_capital)
| genre            = 
| fate             = 
| predecessor      = 
| successor        = 
| foundation       = 2004
| founder          = Joshua Kazam<br>David Tanen<br>
| defunct          = 
| location_city    = New York City
| location_country = New York
| locations        =
| area_served      = 
| key_people       = [Arie Belldegrun](/source/Arie_Belldegrun) <small>([Chairman](/source/Chairman))<ref>[http://investing.businessweek.com/research/stocks/private/committees.asp?privcapId=33803006 "Two River Group Holdings, LLC: Board Committees"]. ''Businessweek''. Retrieved December 9, 2013.</ref></small>
| products         = Venture capital, [equity investment](/source/equity_investment), [investment management](/source/investment_management)
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| homepage         = [http://www.tworiver.com/ www.tworiver.com]
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}}

'''Two River''' is a New York-based [venture capital](/source/venture_capital) firm and [merchant bank](/source/merchant_bank) focused on the [life science](/source/life_science) sector. It specializes in investments in life science, [biotechnology](/source/biotechnology), and in firms focused on developing preventive and [therapeutic](/source/therapeutic) technologies for a broad spectrum of disease areas including [oncology](/source/oncology), [cardiovascular disease](/source/cardiovascular_disease), [neurological disorders](/source/neurological_disorders), and companion animal health care.<ref>[http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=33803006 "Company Overview of Two River Group Holdings, LLC"], ''Businessweek''. Retrieved on June 26, 2013.</ref>

Two River was founded in September 2004 by partners Joshua Kazam, Peter Kash, David Tanen, and Benjamin Bernstein. Dr. [Arie Belldegrun](/source/Arie_Belldegrun) joined the firm in 2008 as its [Chairman](/source/Chairman) and Partner.<ref>[https://www.fiercehealthcare.com/healthcare/dr-arie-s-belldegrun-md-facs-joins-two-river-group-holdings-as-chairman-and-partner "Dr. Arie S. Belldegrun, MD, FACS Joins Two River Group Holdings as Chairman and Partner"]. ''FierceHealthcare''. April 29, 2008. Retrieved June 15, 2018.</ref>

The firm has offices in [New York City](/source/New_York_City) and [Los Angeles](/source/Los_Angeles).

==Portfolio==
{{ad|date=October 2018}}
Currently, Two River holds equity stakes in the following life science companies:<ref>[http://www.tworiver.com/portfolio/ "Portfolio"], ''Two River''. Retrieved on October 18, 2019.</ref>

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

Past holdings:

*Arno Therapeutics - a clinical-stage bio-pharmaceutical company that is developing products for the treatment of cancer.
*Capricor Therapeutics - a clinical stage biotechnology company developing biological therapies for cardiac and other serious medical conditions.
*Cell Design Labs (acquired by [Gilead Sciences](/source/Gilead_Sciences)) - a private bio-therapeutics company
*Edgemont Pharmaceuticals - a privately held pharmaceutical company in the field of neuroscience.
*[Kite Pharma](/source/Kite_Pharma) (acquired by Gilead Sciences) - ac linical-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](/source/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](/source/Series_A) [preferred stock](/source/preferred_stock).<ref>Elliott, Peter (May 15, 2013). [http://www.istreetwire.com/kite-pharma-completes-35-million-series-a-preferred-stock-financing/14651/ "Kite Pharma Completes $35 Million Series A Preferred Stock Financing"] {{Webarchive|url=https://web.archive.org/web/20140430012808/http://www.istreetwire.com/kite-pharma-completes-35-million-series-a-preferred-stock-financing/14651/ |date=April 30, 2014 }}. ''iStreetWire''. Retrieved June 26, 2013.</ref>
* In October 2013, Arno Therapeutics completed a $30.7 million financing of equity.<ref>[https://online.wsj.com/article/PR-CO-20131030-907187.html?dsk=y "Arno Therapeutics Completes $30.7 Million Financing, Recapitalization and 1-for-8 Reverse Stock Split "] ''[The Wall Street Journal](/source/The_Wall_Street_Journal)'' (New York). October 30, 2013. Retrieved October 31, 2013.</ref>
* In November 2013, Nile Therapeutics completed a [merger](/source/Mergers_and_acquisitions) with Capricor to form Capricor Therapeutics. Capricor has become a wholly owned [subsidiary](/source/subsidiary) of the Nile.<ref>[https://www.bloomberg.com/article/2013-11-21/aUP6_ijjMSls.html "Capricor and Nile Therapeutics Complete Merger to Form Capricor Therapeutics, Inc. "]. ''Bloomberg''. November 21, 2013. Retrieved December 9, 2013.</ref>
* In February 2014, Velcera was acquired by Perrigo for $160 million.<ref>Ail, Pallavi (February 1, 2014). [https://www.reuters.com/article/us-perrigo-results-idUSBRE9100OD20130201 "Perrigo expands further into pet care with Velcera deal"]. ''Reuters''. Retrieved April 29, 2014.</ref>
* In April 2014, Kite Pharma completed a $50 million [mezzanine](/source/mezzanine_capital) [private financing](/source/private_placement) of [convertible notes](/source/convertible_bond),<ref>[http://www.marketwatch.com/story/kite-pharma-inc-completes-50-million-mezzanine-private-financing-2014-04-28 "Kite Pharma, Inc. Completes $50 Million Mezzanine Private Financing"]. ''[MarketWatch](/source/MarketWatch)''. April 28, 2014. Retrieved April 29, 2014.</ref> and in May, the company filed a registration with the [SEC](/source/U.S._Securities_and_Exchange_Commission) for an [IPO](/source/IPO) of its [common stock](/source/common_stock), with a proposed maximum offering price of $115 million. The company listed on the [NASDAQ Global Market](/source/NASDAQ) under the symbol "KITE."<ref>[http://www.streetinsider.com/IPOs/Kite+Pharma+%28KITE%29+Files+$115M+IPO/9503176.html "Kite Pharma (KITE) Files $115M IPO"]. ''StreetInsider''. May 19, 2014. Retrieved May 19, 2014.</ref> 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.<ref>Dion, Don (June 18, 2014). [http://seekingalpha.com/article/2274443-ipo-for-kite-pharma-might-fly-high "IPO For Kite Pharma Might Fly High"]. ''Seeking Alpha''. Retrieved June 18, 2014.</ref><ref>[http://www.nasdaq.com/article/12-us-ipos-planned-for-the-week-of-jun-16-cm361835 "12 US IPOs planned for the week of Jun 16"]. ''NASDAQ''. June 16, 2014. Retrieved June 18, 2014.</ref> On June 20, 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.<ref>Calia, Michael (June 20, 2014). [https://online.wsj.com/articles/kite-pharma-soars-above-ipo-price-1403277134 "Kite Pharma Soars Above IPO Price on First Day of Trading"]. ''The Wall Street Journal''. Retrieved June 21, 2014.</ref><ref>[http://www.streetinsider.com/Hot+IPOs/Kite+Pharma+%28KITE%29+IPO+Surges+Higher/9601028.html "Kite Pharma (KITE) IPO Surges Higher"]. ''StreetInsider''. June 20, 2014. Retrieved June 21, 2014.</ref>
* In March 2017, it was reported that Two River has participated in a $16.5 million Series A round of funding for Hubble.<ref>Kolodny, Lora (March 7, 2017). [https://techcrunch.com/2017/03/07/hubble-raises-16-5-million-to-sell-disposable-contacts-direct-to-consumers/ "Hubble raises $16.5 million to deliver affordable daily contact lenses"]. ''TechCrunch''. Retrieved March 20, 2017.</ref>
* On October 11, 2018, Allogene Therapeutics raised $324 million in an initial public offering on the NASDAQ, listing under the ticker "ALLO".<ref>Nisen, Max (October 11, 2018). [https://www.bloomberg.com/view/articles/2018-10-11/allogene-stock-allo-rally-after-ipo-defies-market-rout "Allogene's Monster Biotech IPO Defies Market Rout"]. ''Bloomberg''. Retrieved October 12, 2018.</ref><ref>Mukherjee, Sy (October 11, 2018). [http://fortune.com/2018/10/11/biotech-allogene-ipo/ "Why Cancer Biotech Allogene Just Scored an Eye Popping $324 Million IPO"] ''Fortune''. Retrieved October 12, 2018.</ref>

==References==
{{reflist}}

Category:Financial services companies established in 2004
Category:Private equity firms of the United States
Category:Companies based in New York (state)
Category:Venture capital firms of the United States
Category:Investment companies based in New York City

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Adapted from the Wikipedia article [Two River](https://en.wikipedia.org/wiki/Two_River) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Two_River?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.