Exagen, Inc.

Exagen, Inc.

Exagen, Inc.

Overview
Date Founded

2002

Headquarters

1261 Liberty Way, Suite C, Vista, CA, 92081, USA

Type of Company

Public

Employees (Worldwide)

156

Industries

Medical Support Services
IT Consulting & Services
Hospitals & Patient Services
Pharmaceuticals
Biotechnology

Company Description

Exagen, Inc. is a commercial-stage diagnostics company. It engages in transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. The company operates under the Avise brand. Exagen was founded by Waneta C. Tuttle and Cole Harris in 2002 and is headquartered in Vista, CA.

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Executives & Employees

President & Chief Executive Officer

Secretary, Chief Financial & Accounting Officer

Chief Financial Officer & Executive Vice President

Chief Scientific Officer

Chief Medical Officer

General Manager

Head, Scientific Advisory Board

National Director, Managed Markets

Senior Vice President of Sales & Marketing

Senior Vice President of Market Access & Reimbursement Strategy

Board of Directors

Co-Founder, Managing Partner at Sun Mountain Capital Advisors LLC

Founding General Partner at Tullis Health Investors, Inc.

Managing Director of H.I.G. Biohealth Partners at H.I.G. Capital LLC

Former Venture Partner at Tullis Health Investors, Inc.

Chief Financial Officer & Director at Genomic Health, Inc.

Founder at Joseph Advisory Services LLC

President & Chief Executive Officer at Exagen, Inc.

Managing Director at Gemini Advisors LLC

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Exagen, Inc.
Owners & Shareholders
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Founded in 2004, Cowen & Co. LLC is an SEC-registered broker/dealer headquartered in New York City. The firm is a subsidiary of Cowen Group, Inc. (NYSE: COWN), a New York City-based diversified financial services and investment banking firm that was formed in 1918. In 2009, Cowen merged with Ramius LLC. Cowen & Co. offers industry-focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors.Cowen & Co.'s institutional sales and trading business consists of over 130 professionals servicing both equity and fixed-income clients. Their sales and trading execution platform is structured around the following key verticals: (1) healthcare (2) technology, telecommunications and media (TMT) (3) REITs and financials (4) aerospace and defense (5) consumer and (6) alternative energy. The firm is a registered market maker in over 1,500 domestic equity securities and is backed by a highly-integrated, state-of-the-art electronic trading platform. Cowen & Co.'s trading professionals provide clients with liquidity to provide 'best execution' and offer multiple execution venues in both high and low touch areas.Cowen & Co.'s research focuses primarily on growth sectors in which there is a high degree of new company formations. Their research coverage includes the following sectors: (1) healthcare (2) technology (3) consumer (4) media and telecommunications and (5) aerospace and defense.

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Perkins Capital Management seeks to generate a positive real rate of return over an extended period of years for their clients. Investment strategies vary based on the type of account and the client's investment objectives, as well as the style of the individual portfolio manager. the firm's two main account types are equity and balanced.Perkins' approach to equity investing can be characterized as a search for opportunity. Their primary focus is on companies which appear to be undergoing positive change that may not be recognized in the market place. Such changes include new products, processes, strategies or management. They also search for companies that are likely candidates for acquisition by another company. Situations like this could provide higher earnings, and when acknowledged by others in the market place, could result in a higher price earnings ratio. Generally, equity investments will be held for a longer period of time in individual (taxable) accounts than they will be held in a pension or IRA (tax deferred) account. This provides the client with potentially lower capital gains on their taxable accounts.Perkins' fixed income investment approach seeks maximum income consistent with high quality investments. In their balanced accounts, the firm analyzes the outlook for both short-term and long-term interest rates. Perkins assesses both the domestic and international economic scene. In their opinion, the most important factors when selecting fixed income securities are the credit rating, yield curve analysis and liquidity. Perkins prefers a minimum credit rating of A by Moody’s or Standard & Poor’s rating service. They analyze the yield curves of government, corporate, and municipal bonds looking for inequities in yields which may provide an opportunity. Assessing liquidity requires that the security have excellent marketability.

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Founded in 2004, Cowen & Co. LLC is an SEC-registered broker/dealer headquartered in New York City. The firm is a subsidiary of Cowen Group, Inc. (NYSE: COWN), a New York City-based diversified financial services and investment banking firm that was formed in 1918. In 2009, Cowen merged with Ramius LLC. Cowen & Co. offers industry-focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors.Cowen & Co.'s institutional sales and trading business consists of over 130 professionals servicing both equity and fixed-income clients. Their sales and trading execution platform is structured around the following key verticals: (1) healthcare (2) technology, telecommunications and media (TMT) (3) REITs and financials (4) aerospace and defense (5) consumer and (6) alternative energy. The firm is a registered market maker in over 1,500 domestic equity securities and is backed by a highly-integrated, state-of-the-art electronic trading platform. Cowen & Co.'s trading professionals provide clients with liquidity to provide 'best execution' and offer multiple execution venues in both high and low touch areas.Cowen & Co.'s research focuses primarily on growth sectors in which there is a high degree of new company formations. Their research coverage includes the following sectors: (1) healthcare (2) technology (3) consumer (4) media and telecommunications and (5) aerospace and defense.

Recent Transactions
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Exagen, Inc. issued USD Common Stock

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Exagen, Inc. raised money in a private placement transaction

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Exagen, Inc. raised money in a private placement transaction

Insider Transactions
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Transaction Advisors
Auditor

Advised onExagen, Inc. issued USD Common Stock

Underwriter

Advised onExagen, Inc. issued USD Common Stock

Escrow Agent

Advised onExagen, Inc. issued USD Common Stock

Advisors & Consultants
Advisor

Associate Chairman, Department of Medicine at Washington Hospital Center Corp.

Clients

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women's health, and wound care markets. The Pharmaceutical segment focuses on therapeutic areas such as immunology, infectious diseases ad vaccines, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension. The Medical Devices segment offers products used in the orthopedic, surgery, cardiovascular, diabetes care, and eye health fields. The company was founded by Robert Wood Johnson I, James Wood Johnson and Edward Mead Johnson Sr. in 1886 and is headquartered in New Brunswick, NJ.

Banner Health is a non-profit health system, which owns and operates hospitals and other specialized facilities. Its services include academic medicine, allergy and immunology, anticoagulation, endoscopy, endocrinology, geriatrics, infusion therapy, intensive care, pain management, paramedic care, physical therapy, and weight loss and bariatric surgery. The company was founded on September 1, 1999 and is headquartered in Phoenix, AZ.

Quest Diagnostics, Inc. engages in the provision fo diagnostic testing, information and services. It operates through the Diagnostic Information Services (DIS) and All Other segments. The DIS segment offers diagnostic information services to patients, clinicians, hospitals, health plans, and employers. The All Other segment consists of risk assessment services, healthcare information technology, diagnostic products, and clinical trials testing businesses. The company was founded in 1967 and is headquartered in Secaucus, NJ.

Key Stats and Financials As of 2019
Market Capitalization
$231M
Total Enterprise Value
$273M
Earnings Per Share
$-2.41
Five Year Compounded Annual Growth Rate Of Revenue
28.2%
Debt TEV
0.1x
TEVNet Income
-10.65x
Enterprise Value / Sales
6.76x
Total Equity
$55.7M
Total Debt
$26.1M
EBITDAMargin
-21.56%
EBITDA
$-8.71M
Net Profit
$-25.6M
Revenue
$40.4M
Non-Profit Donations & Grants
$10K - $25K
2016
$10K - $25K
2015
$10K - $25K
2014
Investors
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Cottonwood Technology Fund is a top performing early stage venture capital fund in the United States for vintage year 2010 according to Preqin’s latest reporting. In 2015 Cottonwood Technology Fund started a fund in The Netherlands with a regional focus on the Benelux / Northern Europe. Cottonwood Technology Fund focuses primarily on high-tech startups that have the potential to break through internationally and feature patented technology that can provide a disruption in several markets. Realized multiples of former funds are 3.7 and 6.0 (‘cash-on-cash’ return). Cottonwood’s investment focus is high tech technology / hard science (patent based): photonics, optical, advanced materials, automotive, telecom, clean energy, nanotechnology, robotics, etc.

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Mesa Verde Ventures seeks investment opportunities in companies located in the Southwestern US. The firm is particularly interested in drug discovery/tools, medical devices/diagnostics and healthcare information technology. It provides financing for for early stage capital requirements with an investment size ranging from $250,000 to $1 million and up to $1.5 million per company over time.

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H.I.G. BioHealth Partners LLC invests in a broad range of life science opportunities across sectors and stages. The firm has extensive and diverse experience in big pharm, small biotech, medical devices, diagnostics, basic science, clinical research and technology transfer. They invest in companies developing novel products for significant unmet medical needs, primarily in the following sectors: (1) therapeutics including small molecules, protein therapeutics, antibodies, etc. (2) medical devices and (3) diagnostics. Investments typically range from $3 million to $40 million.

Suppliers
University of Pittsburgh - Pittsburgh Investment Services & Portfolio Management | Pittsburgh, PA

The University of Pittsburgh is among the nation's oldest and most distinguished comprehensive universities, with a wide variety of high-quality programs in the arts and sciences as well as professional fields. Pitt is a member of the Association of American Universities (AAU), which comprises 62 preeminent doctorate-granting research institutions in North America

Prometheus Biosciences, Inc Holding Companies | San Diego, CA

Prometheus Biosciences, Inc. engages in operation of a biopharmaceutical company. It focuses on the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases. The company was founded by Scott Glenn and Stephan Targan and is headquartered in San Diego, CA.

OHIO STATE INNOVATION FOUNDATION ("OSIF") IS A NOT-FOR-PROFIT OHIO CORPORATION FORMED TO MANAGE INTELLECTUAL PROPERTY DEVELOPED AT OR CREATED BY THE OHIO STATE UNIVERSITY ("OSU") AND TO FACILITATE THE COMMERCIALIZATION OF SUCH INTELLECTUAL PROPERTY ("IP"). OSU IS THE SOLE MEMBER OF OSIF, AND A MAJORITY OF THE DIRECTORS ON THE OSIF BOARD OF DIRECTORS ARE REPRESENTATIVES OF OSU. OSIF HAS NO EMPLOYEES. THE OPERATIONS OF THE OSIF ARE CONDUCTED BY THE OSU'S TECHNOLOGY COMMERCIALIZATION & KNOWLEDGE TRANSFER OFFICE, PURSUANT TO CONTRACT.

Competitors
Merck & Co., Inc. Pharmaceuticals - Kenilworth, NJ

Merck & Co., Inc. , d.b.a. Merck Sharp & Dohme, MSD outside the United States and Canada, is an American pharmaceutical company and is one of the largest pharmaceutical companies in the world.

Amgen, Inc. Biotechnology - Thousand Oaks, CA

Amgen, Inc. is a biotechnology medicines company, which discovers, develops, manufactures and markets medicines for grievous illnesses. The company focuses on human therapeutics and concentrates on innovating novel medicines based on advances in cellular and molecular biology. It markets recombinant protein therapeutics in supportive cancer care, nephrology and inflammation. The company's products include Neulasta, a pegylated protein, based on the Filgrastim molecule and NEUPOGEN, a recombinant-methionyl human granulocyte colony stimulating factor both of which selectively stimulate the production of neutrophils; Enbrel, an inhibitor of tumor necrosis factor, a substance that plays a role in the body's response to inflammatory diseases; Sensipar/Mimpara, a small molecule calcimimetic that lowers serum calcium levels; Vectibix, a monoclonal antibody that binds specifically to the epidermal growth factor receptor; and Nplate, a thrombopoietin receptor agonist that mimics endogenous TPO, the primary driver of platelet production. Amgen was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.

Pfizer, Inc. Pharmaceuticals - New York, NY

Pfizer Inc. engages in the discovery, development, and manufacture of healthcare products specializes in medicines, vaccine, and consumer healthcare. It operates through the Pfizer Innovative Health (IH) and Pfizer Essential Health (EH) segments. The IH segment focuses on the development and commercializing medicines and vaccines for internal medicine, oncology, inflammation and immunology, rate disease, and consumer healthcare. The EH segment is involved in development and supply of branded generics, generic sterile injectable products, biosimilars, and select branded products including anti-infectives. The company was founded by Charles Pfizer Sr. and Charles Erhart in 1849 and is headquartered in New York, NY.

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