Zosano has secured financing of $120 million from four experienced venture teams:

New Enterprise Associates (NEA)

NEA provides venture and growth capital to help innovative entrepreneurs and business leaders build transformational, industry-leading companies around the world. For more than 30 years, NEA has been helping to build great companies. NEA committed capital has grown to $11 billion and has funded more than 650 companies in the Information Technology, Energy Technology and Healthcare sectors. With more than 65 investment professionals working out of offices in the US, India, and China and investing across the globe—NEA consistently ranks among the top firms in portfolio IPOs each year. Since its founding, the firm has backed more than 165 companies that have gone public and invested in more than 255 companies that have been successfully merged or acquired—more liquidity events than any other venture capital firm.

Nomura Phase4 Ventures

Phase4 Ventures is a global life science investor whose mission is to provide a premium rate of return for investors by creating, identifying and investing in development stage healthcare companies through its dedicated fund. Phase4 Ventures invests in biopharma, specialty pharmaceutical and medical device companies in the US and Europe. The team of eight investment professionals has experience in medical, scientific, legal and financial disciplines, with a core expertise in structuring investments appropriate for the stage of the company. The Phase4 Ventures team has worked together for over eight years and possesses a high degree of knowledge, professional expertise and networks in healthcare, finance and investment management. The team is complemented by three venture partners who assist in deal sourcing, diligence and post investment management. Phase4 Ventures also leverages an extensive group of advisors with operating experience at a senior level in pharmaceutical and biotechnology companies.

ProQuest Investments

Founded in 1998, ProQuest Investments is a healthcare venture capital firm with over $875 million under management. ProQuest has 12 deal professionals and three offices, with headquarters in Princeton, and additional offices in San Diego and Montreal. ProQuest invests in healthcare companies seeking financings ranging from seed to late-stage. Their portfolio reflects the rich diversity of the healthcare industry and exemplifies a commitment to fostering the growth of exceptional businesses. In addition to broad experience across many sectors of the healthcare industry, ProQuest has special expertise in therapeutics, where innovations in drug discovery technologies and molecular analysis are transforming an enormous unmet medical need. With a proven superior track record and over 40 investments in such diverse therapeutic categories as oncology, pain and infectious disease, ProQuest Investments seeks to build long term, mutually beneficial partnerships with outstanding entrepreneurs. At the end of 2006, ProQuest Investments closed its fourth fund of $425 million.