The Piedmont Angel Network Two Invests over $2,000,000 so far in 2009
Posted: 06-09-2009 : GREENSBORO, N.C.

Greensboro, NC -- The Triad-based Piedmont Angel Network (PAN), announced today that it has invested over $2 million to date in 2009 in early-stage, high growth technology companies. These investments raise PAN’s total amount invested since 2002 to over $14 million. When asked about the high level of investment activity in an overall down-market, Troy Knauss, Fund Executive for PAN, stated, “Our investing model has provided us with the ability to take advantage of great opportunities in the marketplace while banks and other traditional sources of funds have had to sit on the sidelines.”

PAN is a committed capital fund that invests $250,000 to $750,000 in early-stage, high-growth technology and life science companies. PAN plans to remain very active and to continue playing a major role in syndicating deals throughout the Southeastern United States. Over the past few years, PAN has worked closely, to syndicate PAN-led investment rounds with other funds to raise up to $2 million per investment.

In 2009, PAN has closed on five deals with funding rounds ranging from $285,000 to $570,000 from PAN, and with additional commitments exceeding $1.1 million. The investments include a wide variety of businesses, from energy to cosmetics, pharmaceuticals to Internet search: BeliefNetworks, Extend Energy, Pique Therapeutics, Protochips, and Raw Essentials.

“We only have to be right on 1 out of 10 deals to make our money back”

This year PAN is launching its third fund and plans to make additional improvements to its process. The fund understands the need to continue focusing on the end goal: providing an excellent return for its members. PAN expects all funding opportunities to be capable of yielding 10 to 30 times its investment. While this is aggressive, the companies in which PAN invests are typically high growth companies where the potential reward matches the increased risk of investing in these companies. Charles (Chip) Hagan, co-Chair of PAN, points out that “the idea behind a fund is to allow accredited investors to spread their risk over a diversified portfolio. Instead of an individual making a $50,000 investment in one company, the investor can invest that same $50,000, but have it invested in ten companies.” Charles Calkins, PAN’s other co-Chair, goes on to say, “We see a lot of deals each year. We may make an unprofitable investment on occasion; however, we only have to be right on a few deals to make a reasonable return from the risk we take. Our success is, and will continue to be, in our ability to generate deal flow, invest in the right deals, and to provide the right amount of support from the beginning of our investment to the exit.”

PAN is excited to be one of the greatest resources for early-stage investing in North Carolina. As Dixon Johnston, PAN member, explains, “PAN members, successful in their current and prior careers, enjoy the process of screening companies, conducting due diligence, making deals, mentoring portfolio company executives and monitoring each company’s progress.” With almost 100 members in its second fund, the group provided companies with more than financial capital… its human capital was just as valuable in their successes.

2009 Investment Portfolio companies:

BeliefNetworks provides revolutionary, patent-pending semantic intelligence and predictive analytics on Internet viewing which enable premium publishers and digital advertising companies to listen to, and derive meaning from, activity on social networks, blogs, and news sites, and hence drive up value. Belief's platform provides customers enterprise-level insights without the infrastructure and expense traditionally associated with such robust applications. Belief Networks was founded in 2007 by former Apple and Microsoft executives and is based in Charleston, SC with a sales office in NYC. The company was privately funded prior to the current round led by PAN.

Extend Energy, LLC is focused on solar energy integration services. The Company was formed to take advantage of the current market expansion for renewable energy sources and the fact many customers are seeking professional firms to deliver these resources. Travis Simpson, CEO, states, "Working with PAN has made a tremendous difference to our business approach. PAN members are knowledgeable and constructive, and focus their engagement to improve Extend Energy’s business outcomes." PAN funded the first round of investment.

Pique Therapeutics is focused on therapeutic cancer vaccines. Pique's lead product is a first-in-class therapeutic vaccine (PT 107) for the treatment of non-small cell lung cancer (NSCLC). PT 107 has completed Phase 1 clinical trials, which were well-tolerated, and had an excellent safety profile in cancer patients. PT 107 showed a 134% improvement in median survival (11 months) for patients with late-stage NSCLC, as compared with the expected 4 to 6 months. PAN is especially proud of this investment, having worked with the company for months to outline an investment strategy that made sense to Angel investors and potential partners. PAN led this round of investment and was joined by the Wilmington Investor Network.

Protochips creates the world's most advanced specimen supports for electron microscopy, and semiconductor technology. Protochips’ products enable the highest resolution of nanostructures in their native environments and have proven themselves to be of enormous value in both Life Science and Materials Science applications all the way from R&D through product Q/A. PAN led the round of investment and syndicated with Emergent Growth Funds, the Jefferson Corner Group and the Wilmington Investor Network.

Raw Essentials, a company established by Carol Alt, a supermodel and actress, creates skincare products that are pure and do not contain any synthetic chemicals, parabens or laurel sulfates. According to the company, “We go beyond natural or organic skin care with a special low temperature manufacturing process that retains the vitamins, minerals and nutrients necessary for healthy looking skin.” This process is determined to be “Certified Raw”. Raw currently sells its products on the Home Shopping Network (HSN). PAN funded the entire round of investment.

About PAN:
Piedmont Angel Network is a committed capital fund that invests $250,000 to $750,000 in early-stage, high growth companies in the Southeast. With the recently announced PAN Three, the Network will have three funds and over 200 members, each an actively involved investor who brings their career experiences to the group and its portfolio. For full details on the group, contact Troy Knauss. Full contact details of PAN and the 2009 investment companies follows. Contact Information: Troy Knauss Fund Executive Piedmont Angel Network Two Office: (336) 235-0941 Cell: (336) 543-6409 tknauss@piedmontangelnetwork.com Dixon Johnston Communication Chair Piedmont Angel Network Two Office: (336) 540-9541 Cell: (828) 308-2888 dxdj@earthlink.net Lisa Maki Founder / President BeliefNetworks, Inc. (843) 766-5001 lisa@beliefnetworks.net Travis Simpson Founder / President Extend Energy LLC (336) 549-9949 tsimpson@extendenergy.com

www.piedmontangelnetwork.com