Posts Tagged ‘Steven R. Gerbsman’

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Dear Brother ,

Your chapter Brother, Steven Gerbsman (Hunter College – Bronx, 1966), will be speaking on our upcoming AEPiConnect webinar, Maximizing Enterprise Value During COVID-19!, on Thursday, December 10 at 2:00 PM EST. Brother Gerbsman is a part-time lecturer as an angel investor and has been helping companies maximize their value during the pandemic.

He is the managing principal at Gerbsman Partners, which focuses on maximizing enterprise value for stakeholders and shareholders in highly leveraged, underperforming, undercapitalized and undervalued companies! Brother Gerbsman also participates as a mentor for MBA students at Stanford University and has also been a guest lecturer at the University of San Francisco’s MBA program, the McDonough School of Business at Georgetown and the Haas School of Business at UC Berkeley’s Venture Capital Executive Program.

I’m sure he’d love to have your support, on Zoom, as a chapter Brother. I hope you can make it! If not, please encourage other Brothers and friends to join us.


James C. Fleischer
Chief Executive Officer
Alpha Epsilon Pi Fraternity

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Update to “The Bidding Process, Procedures for the Sale of Balance Therapeutics

Further to Gerbsman Partners sales letter of August 12, 2020 regarding the sale of Balance Therapeutics, Inc.  (“Balance”)  I am attaching Exhibit A, Balance Therapeutics NDA, Balance Therapeutics Patent Summary, detail Table of Contents for Balance Therapeutics Data Room due diligence information and an updated Balance Therapeutics informational power point.

Please review the “Important Legal Notice” below in that potential purchasers should not rely on any information contained provided by Gerbsman Partners (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing as a statement, opinion, or representation of fact.  Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit

Ken, Jim and I will be following up to review the updated Bidding Process, schedule due diligence meetings and answer any questions regarding the “Date Certain M&A Process”.

Any and all the assets of Balance Therapeutics will be sold on an “as is, where is” basis and will be subject to “The Bidding Process for Interested Buyers”, outlined below.

Gerbsman Partners (www.gerbsmanpartners.com) has been retained by Balance Therapeutics, Inc. to solicit interest for the acquisition of all, or substantially all, the assets of Balance Therapeutics, Inc. 

Balance Therapeutics Inc. (“Balance”) is a privately held clinical-stage biopharmaceutical company located in Burlingame, CA, USA primarily focused on developing therapies for individuals with rare sleep disorders and other disorders associated with cognition and sleep. Our lead product candidate, BTD-001 (pentylenetetrzole or PTZ), is in Phase 2 clinical trials for the treatment of two rare and debilitating forms of primary hypersomnia: Idiopathic Hypersomnia (IH), and Narcolepsy Type 2 (Na-2).  As of August, 2020, Balance has 29 patents and 7 patents pending.

BTD-001 is an oral formulation of PTZ, a GABAa receptor antagonist that can reduce excessive GABA function in the central nervous system (CNS) in patients with IH or Na-2.

We believe that BTD-001 also has therapeutic potential in other rare sleep disorders beyond the two lead indications and in diseases where there is a neurocognitive impairment (mental fog) associated with an increased GABA function signal such as autism spectrum disorders, attention deficit disorder, Parkinson’s, and Schizophrenia among others.

The acquisition of Balance enables immediate access to a Phase 2 candidate with extensive clinical experience. To date, Balance has raised 3 rounds of private financing totaling $60M  supported by a premier team of life science investors including Mohr Davidow Ventures, Pappas Capital, OrbiMed, and Oakmont Corp. Balance also has an NOL of approximately $30 million for interested parties.

The sale is being conducted with the cooperation of Balance Therapeutics. Balance Therapeutics and its employees will be available to assist purchasers with due diligence and assist with a prompt transition and possibility of continued employment by the purchaser.


The information in this memorandum does not constitute the whole or any part of an offer or a contract.

The information contained in this memorandum relating to Balance’s Assets has been supplied by Balance.  It has not been independently investigated or verified by Gerbsman Partners or its agents.

Potential purchasers should not rely on any information contained in this memorandum or provided by Balance, or Gerbsman Partners (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing as a statement, opinion, or representation of fact. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.

Balance, Gerbsman Partners, and their respective staff, agents, and attorneys, (i) disclaim any and all implied warranties concerning the truth, accuracy, and completeness of any information provided in connection herewith and (ii) do not accept liability for the information, including that contained in this memorandum, whether that liability arises by reasons of Balance’s or Gerbsman Partners’ negligence or otherwise. 

Any sale of the Balance Assets will be made on an “as-is,” “where-is,” and “with all faults” basis, without any warranties, representations, or guarantees, either express or implied, of any kind, nature, or type whatsoever from, or on behalf of Balance or Gerbsman Partners.  Without limiting the generality of the foregoing, Balance and Gerbsman Partners and their respective staff, agents, and attorneys, hereby expressly disclaim any and all implied warranties concerning the condition of the Balance Assets and any portions thereof, including, but not limited to, environmental conditions, compliance with any government regulations or requirements, the implied warranties of habitability, merchantability, or fitness for a particular purpose.

This memorandum contains confidential information and is not to be supplied to any person without Gerbsman Partners’ prior consent.  This memorandum and the information contained herein are subject to the non-disclosure agreement attached hereto as Exhibit A.


The Bidding Process for Interested Buyers

Interested and qualified parties will be expected to sign a nondisclosure agreement (attached hereto as Exhibit A) to have access to key members of the management and intellectual capital teams and the due diligence “war room” documentation (the “Due Diligence Access”).  Each interested party, as a consequence of the Due Diligence Access granted to it, shall be deemed to acknowledge and represent (i) that it is bound by the bidding procedures described herein; (ii) that it has an opportunity to inspect and examine the Balance Assets and to review all pertinent documents and information with respect thereto; (iii) that it is not relying upon any written or oral statements, representations, or warranties of Balance Therapeutics, Inc., Gerbsman Partners, or their respective staff, agents, or attorneys; and (iv) all such documents and reports have been provided solely for the convenience of the interested party, and neither Balance nor Gerbsman Partners (or their respective, staff, agents, or attorneys) makes any representations as to the accuracy or completeness of the same.  

Following an initial round of due diligence, interested parties will be invited to participate with a sealed bid, for the acquisition of the Balance Assets.  Sealed bids must be submitted so that the bid is actually received by Gerbsman Partners no later than September 18th, 2020 at 3:00 p.m. Pacific Time (the “Bid Deadline”) at Balance’s office, located at 863A Mitten Road Ste. 100B2, Burlingame, California 94010.  Please also email steve@gerbsmanpartners.com with any bid.

Bids should identify those assets being tendered for in a specific and identifiable way.  The attached Balance fixed asset list may not be completed and Bidders interested in the Balance’s Assets must submit a separate bid for such assets.  Be specific as to the assets desired. 

Any person or other entity making a bid must be prepared to provide independent confirmation that they possess the financial resources to complete the purchase where applicable.  All bids must be accompanied by a refundable deposit check in the amount of $200,000 (payable to Balance Therapeutics, Inc.).  The winning bidder will be notified within 3 business days after the Bid Deadline.  Non-successful bidders will have their deposit returned to them.

Balance reserves the right to, in its sole discretion, accept or reject any bid, or withdraw any or all assets from sale.  Interested parties should understand that it is expected that the highest bid will be chosen as the winning bidder and bidders may not have the opportunity to improve their bids after submission.

Balance will require the successful bidder to close within 7 business days.  Any or all of the assets of Balance will be sold on an “as is, where is” basis, with no representation or warranties whatsoever.

All sales, transfer, and recording taxes, stamp taxes, or similar taxes, if any, relating to the sale of the Balance Assets shall be the sole responsibility of the successful bidder and shall be paid to Balance at the closing of each transaction. 

For additional information, please see below and/or contact:


Steven R. Gerbsman                                                                        



Kenneth Hardesty


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Please join Steven Gerbman of Gerbsman Partners and Don Milddleberg for a webinar on “Maximizing Enterprise Value in Challenging Times”.  This is presented by Winston/Baker, “the leading entertainment finance conference producer in the world”. 

We live in “challenging times” and with the uncertainty of having access to capital and/or debt over the next months, it is important for companies to review business and capital requirements, as well as potential real estate and/or creditor balance sheet contingent liability issues.

I have spoken with numerous companies, senior lenders and equity sponsors over the past months and there is a “wait and see attitude” regarding the need to access capital and/or restructure senior debt.   As this “Black Swan” crisis continues, it is hard to estimate when there will be business and capital access stabilization.  With over 40 years of experience, it is my recommendation that companies, lenders and equity should take action “now”, as compared to waiting.  As such, Gerbsman Partners is available to strategize and provide action plans for maximizing value and/or restructuring.

Gerbsman Partners represents companies, the Board, equity and/or senior lenders of under performing/distressed IP companies with the objective of maximizing enterprise value of their assets and IP, as well as terminating/restructuring prohibitive real estate leases, senior and junior debt and creditor issues.  Gerbsman Partners also assists emerging growth companies access the capital markets and leverage their Intellectual Property in licensing opportunities.

Please see below a presentation below that I gave at Stanford University –  “Early Warning Signs” and “Maximizing Value” for under-performing/distressed venture and senior lender backed Intellectual Property companies”.  This will be for use in the Stanford Engineering and Business Schools via STVP (Stanford Technology Ventures Program) and SCPD (Stanford Center for Professional Devlopment)  through this link

Also, see Winston Baker’s Webcast on “Maximizing Enterprise Value in Challenging Times: Crisis Management and Communications Strategies”.please view the replay here

To date, Gerbsman Partners has been involved in maximizing value in 109 intellectual property based companies and has terminated/restructured over $ 810 million of prohibitive real estate leases and creditor issues.

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