Crown Media Library Adams Respiratory Therapeutics  Rysher Entertainment  Quinnova  Fireworks Entertainment  ClearOrbit / SigmaTrak

Adams Respiratory Therapeutics Situation Adams Respiratory Therapeutics was a private, pre-revenue company recently founded by successful pharmaceutical executives when Salem Partners met management in 1999. Adams had successfully raised a small friends and family round and needed significant institutional capital to fund the development of what would become the company's lead product, Mucinex. As the product development stage progressed to NDA submission to the FDA and eventual approval and marketing, Adams required several significant capital infusions. Today, Adams is one of the most successful specialty pharmaceutical companies in the U.S. with product sales in excess of $350 million.  In January 2008, Adams was acquired by Reckitt Benckiser Group plc (LSE: RB.) for an aggregate of $2.3 billion.   Salem Partners' Role Salem Partners acted as exclusive placement agent for Adams in three private capital raises, raising in excess of $80 million from leading institutions. Salem Partners achieved increasing valuations in each of the raises it was hired to complete. Salem Partners was engaged by Adams management to advise on the IPO process, which was later completed in July 2005. Salem Partners remains close to the founding team and has completed several additional transactions in partnership with them.