Prestwick Pharmaceuticals, Inc.

On December 6, 2004, Prestwick Pharmaceuticals, Inc. (“Prestwick”), an emerging specialty pharmaceutical company that focuses on developing and commercializing a pipeline of treatments for central nervous system (CNS) disorders, announced that it had completed its $37 million Series B round of financing. Watch Hill Advisors was the exclusive financial advisor and placement agent to Prestwick.

Prestwick, based in Washington, D.C., has multiple drug therapies in clinical development for Huntington's Disease, Parkinson's disease and schizophrenia. Prestwick's lead compound, tetrabenazine, was granted fast track and orphan drug status by the U.S. Food and Drug Administration. Tetrabenazine is available in some European markets and Australia as XenazineTM and in Canada as Nitoman® for the treatment of hyperkinetic movement disorders. Prestwick currently markets tetrabenazine in Canada under the brand name Nitoman®, and has announced positive Phase III results of tetrabenazine in chorea associated with Huntington's Disease. Prestwick anticipated having its New Drug Application for tetrabenazine approved by the FDA in 2006. We introduced the Prestwick management team to the senior members of the leading financial and strategic investors in the CNS space. Partners of the Watch Hill team managed the process in such a way as to minimize management disruptions while coordinating a successful closing on a timely basis with new value-added investors. The financing was led by Pequot Ventures, with investments from Sofinnova Ventures, Vivo Ventures, Atlas Ventures, BA Venture Partners and CNF Investments.