Ballast Point Ventures Invests in KBI Biopharma and FSV Payment Systems

ST. PETERSBURG, FL,  April 15, 2009 - Ballast Point Ventures is pleased to announce two new growth equity investments.

Ballast Point Ventures led an investment of $7.4 million in KBI Biopharma (KBI), a leading biopharmaceutical company that provides fully integrated, outsourced drug development and bio-manufacturing services to global pharmaceutical and biotechnology companies. KBI, based in Durham, NC, helps its clients accelerate and optimize their drug development programs by applying extensive protein characterization, process development and bio-manufacturing capabilities, enabling clients to bring drugs to market faster and more efficiently. KBI is led by CEO Joe McMahon, a biotech services industry veteran and former senior executive of Diosynth Biotechnology, a successful private growth company in the industry. Ballast Point Ventures' minority investment will support expansion of KBI's sales and marketing efforts and also fund both laboratory and service line extensions. Ballast Point Ventures also recently joined with North Hill Ventures in a $6 million investment in FSV Payment Systems (FSV), a full-service provider of stored value products and processing services to large companies and their employees. Founded in 1999 with offices in Jacksonville, FL and Houston, TX, FSV is a leading transaction processor and program manager with strong market positions in both the payroll card and stored value card rebate businesses. FSV's management team is headed by long time financial services entrepreneur Jon Palmer, CEO. Palmer was previously President and CEO of Vital Processing Services and Wellspring Resources. Ballast Point Ventures' minority investment will be used to fund salesforce expansion and additional investments in FSV's technology platform.

About Ballast Point Ventures

Ballast Point Ventures is a venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have many years of experience investing in and supporting over 75 high-growth companies in the healthcare, business services, communications, technology, financial services and consumer industries. Ballast Point Ventures has over $180 million under management and seeks to make minority equity investments ranging in size from $3 million to $10 million.

For additional information, visit ballastpointventures.com or contact Dick Brandewie, Drew Graham, Paul Johan or Matt Rice at 727-567-1500.