Company* (Symbol) Product Description Indication Status (Date) CANCER Alizyme plc (UK; LSE:AZM) ATL-104 Acts by stimulating the growth of cells lining the mouth Mucositis in cancer patients Company completed the Phase Ia trial (1/23**) Biomira Inc. (Canada; BIOM) BLP25 Vaccine; synthetic MUC1 therapeutic vaccine consisting of 25-amino-acid sequence of the MUC1 cancer mucin, encapsulated in liposomes Non-small-cell lung cancer An independent Data Safety Monitoring Board recommended

Company* (Symbol) Product Description Indication Status (Date) CANCER Abgenix Inc. (ABGX) ABX-EGF Fully human monoclonal antibody against the epidermal growth factor receptor Colorectal cancer Company began a Phase II trial (1/8) Alfacell Corp. (OTC BB:ACEL) Onconase Cytotoxic ribonuclease; member of the super- family of pancreatic ribonucleases Inoperable malignant mesothelioma Phase II data showed the one- and two-year survival rates overall were 34.3% and 21.6%, respectively, for

BioWorld's offices will be closed Monday, Feb. 18, for Presidents Day in the U.S. They will reopen Tuesday.

Editor "Logjam" and "bottleneck" became popular words as the industry entered what became called the "post-genomic era" (and grew into yet another oft-used phrase). But everybody was talking about data, not drugs and that, of course, became the problem. While there was plenty of information, not much in the way of new treatments was coming out of it quickly. Meanwhile, another logjam-type, bottleneck-oriented dilemma was rising slowly in the background, and it does have to do with drugs

Money Raised Year To Date

Money Raised Year To Date

I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $340.98M Company Location Date Amt. (M) Details Achillion Pharmaceu- ticals Inc. New Haven, Conn. 1/28 $41 Achillion raised $41M in a private round; investors were S.G. Capital Partners LLC, Bear Stearns Health Innoventures LP, Atlas Venture, Schroder Ventures, Advent International, Connecticut Innovations, KBL Healthcare, ING Furman Selz, Pacific Growth Equities, Oakwood Medical, Webster Financial and GE Capital Alpha

Total: $396.07M Company (Symbol)# Type Of Financing Number Of Shares, Units Or Warrants (M) Amount Raised (M) Investors; Placement Agents; Details (Date)@ Alteon Inc. (AMEX:ALT) Private placement of common stock 4.45S $18.9 Alteon entered into a stock purchase agreement to sell 4.45M shares for net proceeds of $18.6M; the shares are being offered at $4.25 per share; investors include Fiduciary Trust Company International, funds managed by Merlin Biomed Group LLC, SDS

I. COMMENCED TRADING IN JANUARY Company (Symbol)# Date Filed Date Comm. Shares/Units (M) Price Shares Out (M) Lead, Other Underwriters Gross (M) Net (M) INITIAL OFFERINGS There were no initial public offerings conducted in January. Total: $0M Number of IPOs in January: 0 Average value of January IPOs: $0M Number of IPOs for 2002: 0 Total raised in IPOs in 2002: $0M Average value of IPOs in 2002: $0M FOLLOW-ON OFFERINGS Antigenics Inc. (AGEN)1 11/27

Editor If there's one thing for sure in biotechnology, it's uncertainty. And volatility, occasionally tilting into chaos. And hysteria, practically at the drop of a hat. Last week's hat blew off the head of Cephalon Inc., swept by winds gusting from a storm over doomed energy trader Enron Corp.'s woes a tempest that was agitated further by news from Elan Corp. plc about its accounting practices, and probably even fed by the turbulence that surrounds ImClone Systems Inc., over its handling

10 BIGGEST U.S. GAINERS FOR THE WEEK (By Percent) (By Dollars) Synsorb Biotech 41.05 VaxGen 1.77 Immtech 39.15 Immtech 1.76 VaxGen 18.73 Embrex 1.24 Sheffield 14.52 IGEN 0.96 Oxis Int'l 14.29 Maxygen 0.88 Columbia Labs 7.13 Idexx Labs 0.70 Aclara Biosci 6.97 Versicor 0.65 Maxygen 6.77 Invitrogen 0.44 Embrex 6.72 Sheffield 0.44 Demegen 6.67 Vertex Pharma 0.40 10 BIGGEST U.S. LOSERS FOR THE WEEK (By Percent) (By Dollars) Ista Pharma -31.15 Cephalon -6.94 Carrington

Underwriter (Number Of Offerings As Lead/ Number Of Offerings As Lead Or Co-manager) Gross Proceeds (M) S.G. Cowen Securities Corp. (4/12) $1,729.9 CIBC World Markets Corp. (2/12) $1,300.1 Robertson Stephens Inc. (1/5) $1,029.1 UBS Warburg LLC (5/8) $968.2 J.P. Morgan Chase & Co. (3/5) $883.3 Lehman Brothers Inc. (5/7)3 $808.4 Credit Suisse First Boston (5/5) $788.3 Banc of America Securities (2/5) $742.0 Merrill Lynch & Co. (4/4) $717.0 U.S. Bancorp Piper Jaffray (2/7) $634.5 Morgan

Underwriter (Number Of Offerings As Lead Underwriter) After-Market Performance (Average) Lehman Brothers Inc. (5) +44% Wells Fargo Van Kasper (1) +38% S.G. Cowen Securities Corp. (4) +17% Deutsche Banc Alex. Brown (3) +7% Credit Suisse First Boston (5) +5% Morgan Stanley Dean Witter (1) -1% Robertson Stephens Inc. (1) -1% J.P. Morgan Securities Inc. (3) -2% UBS Warburg LLC (5) -2% C.E. Unterberg, Towbin (2) -6% CIBC World Markets Corp. (2) -7% Merrill Lynch & Co. (4) -7% Banc of

Underwriter (Number Of Offerings As Lead Underwriter) Gross Proceeds (M) Credit Suisse First Boston (5) $788.3 Merrill Lynch & Co. (4) $717.0 Lehman Brothers Inc. (5) $524.0 UBS Warburg LLC (5) $487.6 Morgan Stanley Dean Witter (1) $400.0 S.G. Cowen Securities Corp. (4) $367.9 Deutsche Banc Alex. Brown (3) $331.2 J.P. Morgan Chase & Co. (3) $320.8 Thomas Weisel Partners (3) $253.9 CIBC World Markets Corp. (2) $194.0 Salomon Smith Barney (1) $186.7 Robertson Stephens Inc. (1) $151.0

Underwriter (Number Of IPOs As Lead/ Number Of IPOs As Lead Or Co-manager) After-Market Performance (Average) S.G. Cowen Securities Corp. (0/1) +1% UBS Warburg LLC (1/1) +1% C.E. Unterberg, Towbin (1/1) 0% Fahnestock & Co. Inc. (0/1) 0% Roth Capital Partners (0/1) 0% Thomas Weisel Partners LLC (2/2) -13% Robert W. Baird & Co. Inc. (0/2) -16% Banc of America Securities (0/1) -19% J.P. Morgan Chase & Co. (1/1) -19% CIBC World Markets Corp. (1/4) -20% Merrill Lynch & Co. (1/1) -27

Underwriter (Number Of IPOs As Lead/ Number Of IPOs As Lead Or Co-manager) Gross Proceeds (M) CIBC World Markets Corp. (1/4) $254.8 Robert W. Baird & Co. Inc. (0/2) $149.8 Thomas Weisel Partners LLC (2/2) $123.3 Dain Rauscher Wessels (0/1) $82.5 Fidelity Capital Markets (0/1) $82.5 Lehman Brothers Inc. (1/1) $82.5 S.G. Cowen Securities Corp. (0/1) $67.3 UBS Warburg LLC (1/1) $67.3 Merrill Lynch & Co. (1/1) $56.0 Banc of America Securities (0/1) $49.0 J.P. Morgan Chase & Co. (1/1

Underwriter (Number Of IPOs As Lead Underwriter) After-Market Performance (Average) UBS Warburg LLC (1) +1% C.E. Unterberg, Towbin (1) 0% Thomas Weisel Partners LLC (2) -13% J.P. Morgan Chase & Co. (1) -19% CIBC World Markets Corp. (1) -27% Merrill Lynch & Co. (1) -27% Lehman Brothers Inc. (1) -33% # After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/01. For underwriters with multiple offerings, the

Underwriter (Number Of IPOs As Lead Underwriter) Gross Proceeds (M) Thomas Weisel Partners LLC (2) $123.3 Lehman Brothers Inc. (1) $82.5 UBS Warburg LLC (1) $67.3 CIBC World Markets Corp. (1) $56.0 Merrill Lynch & Co. (1) $56.0 J.P. Morgan Chase & Co. (1) $49.0 C.E. Unterberg, Towbin (1) $20.0 * The offerings in this chart include only those that were completed on U.S. stock exchanges (NASDAQ, NYSE or AMEX) from Jan. 1 - Dec. 31, 2001. Gross proceeds include additional funding raised