HOUSE_OVERSIGHT_024003.txt

The document is a confidential private placement memorandum for New Leaf Ventures III, L.P., which seeks to raise $375 million in limited partner interests. The offering is being made by New Leaf Ventures Partners and the memo discusses the terms of the investment, including the risks involved. It also notes that the interests have not been registered under federal securities laws and are being offered only to sophisticated investors on a confidential basis.