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Covington Represents Cowen in Leveraged Recapitalization of Ricerca Biosciences

March 15, 2007

New York, NY, March 15, 2007 — Covington & Burling LLP represented Cowen Capital Partners LLC in its March 8 leveraged recapitalization of Ricerca Biosciences, LLC, including new equity and term facilities approaching US $50 million. Covington has represented Cowen in all of its prior investments in Ricerca Biosciences dating back to 2000.

Ricerca Biosciences is a contract drug development company, offering extensive drug development services that improve the odds of converting drug discovery leads to drug candidates. Ricerca also supports clinical trials through GMP API manufacture and bioanalytical services.

New York-based Cowen Capital Partners is the middle-market private equity affiliate of Cowen and Company LLC.

The Covington corporate team included partners Scott Smith and Peter Laveran and associates Peter Bogdanow, Rob Heller (tax), and Beatriz Martinez.

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