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NEW YORK, Oct 05, 2009 (BUSINESS WIRE) -- Piper Jaffray announces the hiring of M. Ian Somaiya as senior research analyst covering biotechnology companies. Somaiya has over 15 years of industry and related experience. He will be based in New York and will cover a select list of small-, mid- and large-cap companies.

Somaiya will join the firm in January of 2010 following a garden leave with Thomas Weisel Partners Group, where he is currently a lead biotechnology analyst. Somaiya has been frequently recognized by industry sources, such as the Wall Street Journal, as being among the best for his fundamental and timely analysis.

"Expanding the breadth and depth of coverage of biotechnology companies reflects our ongoing commitment to responding to client needs and market opportunities," said Stephen J. Buell, head of equity research at Piper Jaffray. "We look forward to having Ian on board to help with this effort."

Somaiya received his bachelor's degree in biology and neuroscience from New York University in New York.

About Piper Jaffray

Piper Jaffray Companies (NYSE: PJC) is a leading, international middle market investment bank and institutional securities firm, serving the needs of middle market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. Piper Jaffray headquarters are located in Minneapolis, Minnesota, with offices across the U.S. and in London, Hong Kong and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

© 2009 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

SOURCE: Piper Jaffray

Piper Jaffray
Terry Sandven
AnalystMediaRelations@pjc.com