The Strategy of this successful company is: Buy, Build, Search and Develop.

Esprit Pharma has successfully completed a Series B funding round, raising over $90 Million in Venture Capital financing from a group of leading venture capital and private equity investors.

Firms participating in the Series B round includ existing investors New Enterprise Associates, Apax Partners, Inc., Domain Associates LLC and Montagu Newhall Global Partners. Joining this round are new investors Oak Investment Partners and clients advised by Performance Equity Management.

“While it's been just over a year since we began operations, Esprit has experienced strong growth,” said John T. Spitznagel, Esprit's Chairman and CEO. “In this relatively short period of time, we have applied our Buy and Build, Search and Develop strategy to acquiring four approved products, building a commercial organization including more than 200 sales and marketing professionals, and recently acquiring our first pipeline product.”

Mr. Spitznagel further noted, “This financing improves the financial health and prospects of Esprit to further drive growth and stay on course with our commitment to achieving pre-eminence in the urology and women's health care specialty markets.”

Andrew J. Einhorn, Esprit's Chief Financial Officer, said, “Our ability to successfully access the capital markets and garner support of top tier healthcare private equity firms is truly gratifying. Today's announced financing, from both existing and new investors, stands as testimony in support of Esprit's ability to execute its strategic plans for long-term growth.”