MIAMI, FL – H.I.G. Ventures has helped lead a $13.6 million financing round for Quinnova, a Newton, PA-based a pharmaceutical company. The company wants to use the funds to develop its product pipeline in order to introduce its first dermatological prescription drugs to market in 2007.

The Miami-based H.I.G. has over $550 million in dedicated venture capital under management, and invests in early to mid-stage information technology, life sciences, and service businesses. Founded in 1993, H.I.G currently manages a portfolio of more than 60 companies with combined revenues in excess of $5 billion.

Health care private equity firm, Thomas, McNerney & Partners, also assisted in leading the Quinnova financing; Omnivest, an investor syndicate, also participated.

Also, a member from each firm was given a position on Quinnova Pharmaceuticals’ board; Aaron Davidson, the managing director of H.I.G. joined the board, as well as did Alex Zisson, a partner at Thomas, McNerney & Partners, and Frits Besselaar, corporate officer at Omnivest (Bermuda) Ltd.

Quinnova employs a reformulation strategy, which means it takes safety-proven and effective pharmaceutical ingredients and aims to deliver them, either individually or in combination, in unique, effective, and patent-protected delivery systems.

www.higventures.com

www.quinnova.com

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