Great Point Partners, LLC (“Great Point”1), a registered investment adviser, is a Delaware limited liability company. Great Point was founded in 2003 in Greenwich, Connecticut. Great Point provides discretionary investment management services to pooled investment vehicles, including hedge funds and private equity funds as well as separately managed accounts. Great Point is owned by two individuals: Senior Managing Member Dr. Jeffrey R. Jay (“Dr. Jay”), and Mr. Ortav Yehudai (“Mr. Yehudai”). Mr. Yehudai focuses his attention on the hedge funds. The Hedge Funds Biomedical Value Fund, L.P. (“BMVF”) and Biomedical Offshore Value Fund, Ltd. (“BMOVF”, and, together with BMVF, the “Hedge Funds”) are hedge funds formed with the goal of capturing the long term value created by biotechnology, medical devices/diagnostics and health care information technology companies. The Hedge Funds invest principally in publicly traded biotechnology, pharmaceutical and life sciences companies mainly in the U.S., Canada and the EU by purchasing and selling securities in the open market, in privately negotiated financings, in restructurings and in directly negotiated investments (“DNIs”). The Hedge Funds are required to be managed in accordance with the Hedge Funds’ respective Governing Documents (as defined below). The Managed Account Great Point serves as a sub-advisor to and provides discretionary investment management and portfolio management services to a separately managed account (the “Managed Account”, and, together with the Hedge Funds, the “Public Equity Clients”). Subject to client mandates, Great Point is required to manage the assets of the Managed Account in a substantially similar manner to the Hedge Funds. Please see Item 8 describing potential conflicts of interest. The Private Equity Funds Great Point has formed various funds to invest in recapitalizations and growth buy-outs of growing health care companies in the lower middle market. These funds currently consist of the following:
• GPP – CF I, L.P. (“GPP CF I”), a continuation fund formed to invest in the American Medical Staffing business and provide liquidity to investors in Great Point Partners I, L.P.
• Great Point Partners II, L.P. (“GPP II”), Great Point Partners II-A, L.P., a fund investing in parallel with GPP II (“GPP II-A”), and GPP II Offshore Feeder, L.P., a feeder fund to GPP II (“GPP II-Offshore”, and, together with GPP II and GPP II-A, “Fund II”)
• Great Point Partners III, L.P. (“GPP III”), and Great Point Partners III-A, L.P., a fund investing in parallel with GPP III (“GPP III-A”, and, together with GPP III, “Fund III”)
• Great Point Partners IV, L.P. (“GPP IV”). 1 Throughout this Brochure, the term “Great Point” is used to refer collectively to Great Point Partners, LLC and its affiliated General Partners, as described below. The Co-Investment Vehicles The following entities were formed in connection with co-investments or other transactions: GPP II – Salmon Co-Invest, L.P.; GPP II – UCS, LLC; GPP II – MDRS Holdings, LLC; GPP II – Steripack, LLC; GPP III – Axiom, LLC; GPP III – Bionova, LLC; GPP III – Tergus, LLC; GPP III – MLM, LLC; GPP III – PCM, LLC; GPP III – Ephicacy, LLC; and GPP III – Ixcells, LLC (collectively, the “Co - Invest Funds”). Great Point Partners CF I GP, LLC, Great Point Partners II GP, LLC, Great Point Partners III GP, LLC, and Great Point Partners IV GP, LLC (collectively, the “General Partners”) are entities affiliated with Great Point Partners, LLC that serve as general partners to GPP CF I, Fund II, Fund III, and GPP IV, respectively. Each General Partner has designated Great Point as the investment manager for each of the Private Equity Funds and the Public Equity Clients. This Brochure also describes the business practices of each General Partner which together operate as a single advisory business together with Great Point Partners, LLC. From time to time herein, the Hedge Funds and Private Equity Funds are referred to individually or collectively as a “Fund” or the “Funds,” and the Public Equity Clients and Private Equity Funds are referred

to individually or collectively as a “Client” or “Clients.” The Medical Advisory Board Great Point also retains a group of medical advisors (the “Medical Advisory Board”) as non-exclusive consultants who serve as a continuous source of expertise and contacts in the health care industry for the Hedge Funds, and help Great Point with answers to due diligence questions on investment ideas, The Medical Advisory Board meets collectively, on an annual basis, with Great Point’s hedge fund investment professionals. The CEO Advisory Board Great Point also retains a group of accomplished senior executives (the “CEO Advisory Board”) as non-exclusive consultants who provide assistance to the Private Equity Funds to help conduct due diligence on investment ideas, and serve as Board members of portfolio companies of Private Equity Clients. The CEO Advisory Board meets collectively, on an annual basis, with Great Point’s private equity investment professionals. Certain Great Point Private Equity Funds bear retainer fees paid, and cost and expenses reimbursed, to CEO Advisory Board members, and costs of meetings with the CEO Advisory Board, in accordance with the Governing Documents of those Private Equity Funds. More information on the CEO Advisory Board is contained below. Availability of Tailored Services Great Point does not tailor its advisory services to the specific investment objectives of the investors of the Funds. Instead, Great Point exercises its investment discretion pursuant to the investment guidelines and restrictions set forth in the relevant private placement memorandum or other offering document (each, an “Offering Document”) and /or limited partnership agreement or other investment management agreement (each, an “Investment Management Agreement” and together with the Offering Documents, the “Governing Documents”) for each respective Fund. With respect to the Managed Account Client, Great Point will follow specific mandates for investing the Managed Account assets, set forth in Investment Management Agreements between Great Point and each Managed Account Client. Investors and prospective investors in Great Point’s Funds should refer to the Governing Documents of the applicable Fund for information on the investment objectives, investment restrictions and risks associated with each fund. Since Great Point does not provide individualized advice to investors, investors should consider whether the respective Funds meet their investment objectives and risk tolerance prior to investing. Investors in a Fund participate in the overall investment program for such Fund but may be excused from a particular investment due to legal, regulatory or other agreed-upon circumstances pursuant to the relevant Governing Documents. The Funds or the General Partners enter and have entered into side letters or other similar agreements with certain investors that have the effect of establishing rights (including economic or other terms) under, or altering or supplementing the terms of, the relevant Governing Documents with respect to such investors. Additionally, from time to time, Great Point provides (or agrees to provide) limited partners of the Funds as well as certain third party investors or other persons, including Great Point’s principals, personnel and certain other persons associated with Great Point (to the extent not prohibited by the applicable Governing Documents), the opportunity to participate in single investment co-invest vehicles that will invest in certain portfolio companies alongside a Fund. Such co-investments involve investment and disposal of interests in the applicable portfolio company. Fund II and Fund III are not making investments in new portfolio companies as the investment period provided for in the respective Governing Documents applicable to such Funds has ended. Wrap Fee Program Great Point does not participate in any wrap fee programs. Client Assets Under Management As of December 31, 2023, Great Point had approximately $1,988,112,264 of Regulatory Assets Under Management, all of which is managed on a discretionary basis.