– Investments to be focused on rich pipeline of assets and companies emerging from UNC-Chapel Hill – Selection of Hatteras builds on track record of investments in the UNC ecosystem

March 2, 2016 – Chapel Hill and Durham, NC – Hatteras Venture Partners and Carolina Research Ventures, LLC (CRV) announced today the selection of Hatteras as the manager of CRV’s investment fund. CRV is an early stage venture investment fund created to support companies sourced at the University of North Carolina at Chapel Hill. Under the agreement, Hatteras will invest up to $10 million in companies and projects derived from resources of UNC-Chapel Hill. These investments will be separate from other Hatteras funds although they will have co-investors that include Hatteras as well as other venture firms from across the country. “After a thorough selection process involving many applicants, the Carolina Research Ventures board is very pleased to announce the selection of Hatteras Venture Partners as our partner for managing investments from the CRV,” said Sallie Shuping-Russell, Chair of CRV. “Hatteras has a long-standing and successful track record investing in early stage companies such as G1 Therapeutics, GeneCentric Diagnostics, Spyryx, and Viamet that are based upon outstanding science coming from the University.” Under the agreement, Hatteras will allocate dedicated resources to managing the investments. In particular, Mike Dial, Ph.D., a Principal at Hatteras will be the day-to-day manager for the CRV investment effort. He will be assisted by Christy Shaffer, Ph.D., and Clay Thorp, General Partners at Hatteras. Dr. Shaffer and Mr. Thorp will both serve on the investment committee for the CRV fund with Dr. Dial. “UNC-Chapel Hill is committed to accelerating its research into improved quality of life and economic development for the citizens of North Carolina and beyond. Closing the funding gap for early-stage startups is critical, and CRV is an important step in that direction,” said Matthew Fajack, UNC-Chapel Hill Vice Chancellor for Finance and Administration and CRV Board member. “We are delighted to strengthen our outstanding relationship with UNC-Chapel Hill,” said Christy Shaffer, Ph.D., General Partner of Hatteras. “Mike Dial is a key member of the Hatteras team and has been integral to the success of Hatteras Discovery. Given his experience in company formation and scientific training from UNC-CH, we felt he would be an ideal manager of our effort with Carolina.” Investments from CRV will be made in companies involving UNC-CH technology or the use of UNC-CH resources or personnel. While some investments will be made alongside Hatteras’s funds, others will be made independently. In addition to involving Drs. Dial and Shaffer and Mr. Thorp, Hatteras will work with the CRV Advisory Board, which will involve venture capitalists and other advisors from across the country in a wide range of disciplines, including health care, IT, computer science and material sciences. “I am thrilled to take on the challenge of creating value from UNC-CH technology with the CRV,” said Mike Dial. “The University has the powerful combination of significant federal funding as the 6th largest recipient of federal grants in the nation alongside a rich heritage of entrepreneurship. We have already identified a robust pipeline of opportunities for CRV.”

About Hatteras Venture Partners

Hatteras Venture Partners is a venture capital firm based in Research Triangle Park, NC with a focus on seed and early stage opportunities. The firm has approximately $350 million under management in five venture capital funds. Hatteras is led by a seasoned team of entrepreneurs and operators and has a long and successful track record of seed and early stage investing and company formation. To learn more about Hatteras Venture Partners, please visit:www.hatterasvp.com.