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DRI Capital is a pioneer and global leader in healthcare investing and was the original innovator of the healthcare royalty market. The firm, originally called Drug Royalty Corporation, was founded in 1992 to purchase royalty streams on pharmaceutical products and to make healthcare equity investments. DRI believes that the concept of royalty investing originated in the Canadian mining sector and was first adapted to the life sciences markets at this time by Drug Royalty Corporation. In 1993, the firm was listed on the Toronto Stock Exchange and remained publicly traded until 2002 when it was purchased by its current owners and taken private. In 2006, DRI Capital successfully raised $800 million ($240 million in equity and $560 million in debt) for its first managed fund, Drug Royalty I. With Drug Royalty I, DRI completed its transition to a private equity fund manager business model. In 2010, DRI successfully raised $926 million of capital commitments ($701 million in equity for its second managed fund, Drug Royalty II, and $225 million in equity for Drug Royalty II Co-Investment Fund). In 2013, DRI closed its third managed fund, Drug Royalty III, with current equity commitments of US $1 billion from a global pool of institutional investors.

As of June 30, 2014, Drug Royalty I, Drug Royalty II and Drug Royalty III have collectively acquired over 50 separate royalty streams from inventors, universities, research institutes, hospitals, biotechnology and global pharmaceutical companies payable on 30 different leading pharmaceutical products. In building this portfolio, DRI led the way with numerous milestone transactions, including the first transaction outside the United States, the first transaction with an individual inventor, the first transaction on a diagnostic, the first transaction on a life science tool and the first transaction involving a bundle of royalty streams. Further, DRI's managed funds have completed more repeat transactions with prior counterparties than any other royalty monetization firms, reinforcing DRI's leading reputation in the industry.

Today DRI Capital is a fully-integrated team of more than 30 investment professionals and support staff with well over U.S. $2 billion under management, focused on identifying, assessing, acquiring and managing biopharmaceutical royalty assets across the globe. Collectively, the professional team has over 150 years of experience. The team has individuals with backgrounds in the pharmaceutical industry, as well as in scientific, financial, healthcare, intellectual property and legal disciplines. This breadth of knowledge and training allows DRI Capital to identify unique potential investments and conduct its due diligence on such investments quickly and effectively.

DRI Capital is an indirect subsidiary of Persis Holdings Ltd., formerly known as Inwest Investments. Inwest was recently reorganized and renamed as Persis Holdings Ltd. Headquartered in Vancouver, Canada, in addition to its investment in pharmaceutical royalties through DRI Capital, Persis has made substantial investments in several other sectors, including land development, high rise development, shopping centres, retail real estate, entertainment royalties and retail.