Ardent Pharmaceuticals, Inc. (Formerly Delta Pharmaceuticals, Inc.)

Ardent Pharmaceuticals, Inc. (“Ardent”) is a privately held biopharmaceutical company focused on the development of innovative analgesics, urinary incontinence agents and other therapeutic applications based on novel delta receptor compounds. Ardent has targeted four product areas for development, each having a potential market in excess of $1 billion. The Company’s initial development efforts have been focused on acute care and chronic pain management. The Company’s lead product is in Phase II clinical trials.  Ardent has a strong and proprietary position for its receptor based technologies and it has a superior scientific and development team experienced in discovering and developing delta receptor compounds.

Century Capital was approached by Ardent in early 1998 to assist the Company in its corporate development, strategic planning and financing efforts. During the summer and fall of 1998, Century Capital worked with the Company to enhance the Company’s strategic plan and financial goals.  Century Capital advised the company during the following transactions:

• In March 1999, Century Capital assisted the Company in its search for a major corporate partner. Century Capital negotiated a multi-million dollar licensing agreement with a major pharmaceutical company for the intravenous use of the Company’s lead pain compound.





• In June 1999, Century Capital initiated discussions with a second major pharmaceutical company regarding the establishment of a development agreement. This led to the creation of a joint venture between Ardent and the pharmaceutical company focused on the development of an Ardent pain compound. In conjunction with this transaction, the pharmaceutical company made an equity investment into the Company and provided the joint venture and the Company with research and development funding.





• In March 2000, Century Capital assisted the Company in the creation of a joint venture with a major pharmaceutical company focused on the development of a pain product. In conjunction with this transaction, the pharmaceutical company made an equity investment into the Company and provided the joint venture and the Company with funding for the development program.