Jazz Pharmaceuticals Announces $250 Million Financing

Developing and Commercializing Products in Neurology and Psychiatry

Mar 24, 2004, 00:00 ET from Jazz Pharmaceuticals, Inc.

    PALO ALTO, Calif., March 24 /PRNewswire/ -- Jazz Pharmaceuticals, Inc.
 announced today the completion of a $250 million financing with private equity
 and venture capital investors.  The company is focused on improving the lives
 of patients through the development and commercialization of important
 pharmaceutical products that treat neurologic and psychiatric disorders.  Jazz
 Pharmaceuticals is creating innovative therapeutics by improving and expanding
 the uses of known compounds, and is aggressively adding to its pharmaceutical
 product portfolio through licensing, acquisitions and collaborations.
     "This financing enables us to simultaneously build our commercial
 organization and expand our portfolio of early and late-stage development
 projects, thereby creating robust neurology and psychiatry franchises," said
 Bruce C. Cozadd, Executive Chairman of Jazz Pharmaceuticals. "We are pleased
 to have received such enthusiastic support for our strategy from an
 outstanding group of investors."
     "Our organization has the product development and commercial experience to
 rapidly develop important new products to meet the needs of neurology and
 psychiatry patients," said Samuel R. Saks, M.D., Chief Executive Officer of
 Jazz Pharmaceuticals.  "We intend to work closely with patients, healthcare
 providers and patient advocacy groups to build a strong presence in these
 areas, and to be able to respond to the clear need for therapeutic
     The $250 million Series B financing was led by an affiliate of Kohlberg
 Kravis Roberts & Co. (KKR), a new investor in the company.  Participants
 included the company's management and its Series A investors, Prospect Venture
 Partners and Versant Ventures, along with new investors Beecken Petty O'Keefe
 & Company, Golden Gate Capital and Thoma Cressey Equity Partners.  Other new
 investors included Adams Street Partners, EGS Healthcare Capital Partners,
 Lehman Brothers Healthcare Fund and an entity associated with the Oak Hill
 investment group.  Jazz Pharmaceuticals completed a $15 million Series A round
 in April 2003.
     "Our investment exemplifies one of our core investment philosophies,
 which is to back strong managers with deep industry expertise," stated
 Michael Michelson, a member of KKR.  "We believe Jazz Pharmaceuticals and its
 management team have the ability to execute on exceptional product
 opportunities in important pharmaceutical markets.  Moreover, this team has
 all the critical attributes and the track record in the pharmaceutical
 industry to build a great company with sound, long-term growth potential and
     "From the company's inception, what has truly excited us about this
 investment opportunity is that Jazz Pharmaceuticals has a highly experienced
 team that has demonstrated the ability to work with discipline, speed and
 intelligence in identifying exciting products and in-licensing opportunities
 and validating new product concepts," added Sam Colella, managing director of
 Versant Ventures.
      "We have been delighted with the progress and momentum of the
 Jazz Pharmaceuticals team and strategy.  We expect the company to respond to
 patient needs and market opportunities with a creative approach that will be
 unique in our industry," said Jim Tananbaum, M.D., managing director of
 Prospect Venture Partners.
     About Jazz Pharmaceuticals
     Jazz Pharmaceuticals, a pharmaceutical company formed in March 2003,
  is focused on helping patients by meeting unmet medical needs in neurology
 and psychiatry with important and innovative therapeutic products.  Jazz
 Pharmaceuticals is aggressively building its product portfolio through
 a combination of commercialization and development activities.  Based in
 Palo Alto, California, the company is committed to working closely with
 patients, patient advocacy groups and healthcare professionals.  For further
 information, please visit www.jazzpharmaceuticals.com.

SOURCE Jazz Pharmaceuticals, Inc.