COLUMBIA, Md.–(BUSINESS WIRE)–May 13, 2003–
Chairman and CEO Jeb Connor to Discuss
Award-Winning e-Business Management Software Firm’s Growth Plans
at Region’s Most Prestigious Venture Fair
Reinforcing its standing as one of the region’s most successful early stage high technology firms, Panacya(R) Inc. today announced that the company has been invited to participate in the Mid-Atlantic Venture Association’s (MAVA) annual venture fair, Capital Connection 2003. Now in its eighth year, the event will be held May 27-28, 2003, at the Baltimore Marriott Waterfront Hotel in Baltimore, MD.
Capital Connection 2003 is expected to draw more than 1000 attendees, including local and national private equity firms, entrepreneurs and professional services firms from around the country. Hand selected by a panel of VC investors, the fair showcases 50 of the best emerging companies in the mid-Atlantic region. Since 1996, presenting companies at MAVA fairs have secured in excess of $2.2 billion in funding.
“Panacya is among the region’s most promising investment opportunities showcased at Capital Connection,” said Kevin Burns, Managing Principal of Lazard Technology Partners and Member of the Panacya Board of Directors. “Panacya’s experienced leadership, outstanding technical vision and entrepreneurial spirit, clearly differentiate the company as a rising leader in e-business management.”
“We are pleased to participate in Capital Connection and look forward to sharing Panacya’s perspective on the e-business management market, providing an overview of our success in launching Panacya BusinessAware, and outlining our strategies for continued growth,” said Jeb Connor, Panacya’s Chairman and CEO.
Panacya’s BusinessAware(TM) e-business management software enables companies to reduce costs, maximize existing IT investments and increase the effectiveness of Web-based applications and services. Customers include a large enterprise infrastructure software provider, a multi-billion dollar financial services firm, and a national provider of online educational services and materials. Just last month, the company won the coveted “Best of Interop Award” for BusinessAware – among only ten firms selected from more than 200 companies to be awarded one of the industry’s premier honors.
Founded in 2000, Panacya has raised more than $21 million in venture capital financing, including an $11 million private equity funding round led by Lazard Technology Partners in July 2002. In addition to Panacya, Lazard’s portfolio includes leading early stage high technology companies across the Communications, e-Business and Software sectors including AptSoft, Cyveillance, Kubi Software, Metrix Networks, NFR Security and Vocus.
Panacya has also expanded its management team with key hires in Sales, Marketing, Customer Service and Development, adding seasoned veterans from industry-leading companies BEA Systems (NASDAQ: BEAS), Merant and Newbridge Networks. Additionally, newly appointed member Steve Friedman, a former senior executive at WebLogic and BEA, has joined Panacya Chairman and CEO, Jeb Connor; Chief Investment Officer of ETF, Hans Stander; and Managing Principal of Lazard, Kevin Burns on the Panacya Board of Directors.
Members of the media and investment communities interested in meeting with company executives at Capital Connection 2003 are invited to contact Rebecca Hirschfield at Panacya ([email protected], 410-910-3374) or Suzanne Shaw at CHEN PR ([email protected], 781-466-8282 ext. 26).
About MAVA/Capital Connection 2003
Produced by the Mid-Atlantic Venture Association (MAVA), Capital Connection 2003 is one of the nation’s most successful and influential venture events. Over the years, MAVA venture fairs have helped to shape the region’s entrepreneurial economy, generating more than $2.2 billion of venture investments in the presenting companies.
Founded in 1986, MAVA represents the collective interests and leverages the success of venture capitalists investing in DC, Maryland and Virginia. MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster solid relationships with key service providers. Membership includes 375 venture capital professionals at 126 firms with over $10 billion in capital under management. In addition, over 265 key service providers from the legal, financial, executive search and consulting fields are also MAVA members. For more information, please visit www.mava.org.
About Panacya
Panacya is the premier provider of award-winning e-business management software that enables Global 2000 organizations to optimize the delivery of their Web-based services to ensure customer satisfaction, increase revenues and grow market share. Headquartered in Columbia, MD, the company’s technical and management team comprises executives from Hewlett-Packard, Computer Associates, IBM/Tivoli, BEA, Merant, Newbridge Networks and SciQuest. Panacya is funded by blue-chip investors that include Lazard Technology Partners and European Technology Funds. For more information, email [email protected] or visit the Web site at www.panacya.com.
(C) 2003 Panacya, Inc. All rights reserved. Panacya, BusinessAware, Behavior Expert, BeX and Collective Insight Efficient e-Business are registered trademarks or trademarks of Panacya, Inc. in the United States and/or other countries. All other trademarks are property of their respective owners.
