Hatteras Venture Partners II, LP (HVP II) is a $35 million venture capital fund closed in May of 2004. HVP II involved two relationships between Hatteras and HBM Partners of Switzerland, and related entities. In the first relationship, HVP II is a $34.5 million limited partner in HBM BioCapital (USD), LP, a Cayman Island limited partnership that was invested alongside HBM BioCapital (EUR), LP from 2004 to the present (the combined fund (HBM BioCapital) has approximately $150 million under management). In the second relationship, Hatteras BioCapital, LLC, the General Partner for HVP II, is an investment advisor and part of the investment team for HBM BioCapital. Through this relationship, Hatteras and HBM worked collaboratively to develop the following portfolio of 15 clinical stage companies in the United States and Europe: