TOTAL: $368.92M Company (Symbol)# Type Of Financing Number Of Shares, Units Or Warrants (M) Amount Raised ($M)* Investors; Placement Agents; Details (Date)@ AltaRex Corp. (Canada; TSE:AXO) Warrant exercise 5.687 shares C$5.4 (US$3.66) AltaRex received C$5.4M (US$3.66M) from the exercise of special warrants sold 2/29/00 into common shares (4/20) Aphton Corp. (APHT) Private placement of common stock 0.49 shares $16.22 Aphton sold 0.49M shares of common stock at $33 per share to
Company (Symbol) Date Filed Date Comm. Shares/Units Price Shares Out (M) Lead, Other Underwriters Gross ($M) Net ($M) I. COMMENCED TRADING IN APRIL INITIAL OFFERINGS Actelion AG (Swtizerland; SWX New Exchange: ATLN)1 3/2 4/6 9S CHF260 $155.21 4.6 Credit Suisse First Boston CHF234 US$139.7 N/A Exelixis Pharmaceuticals Inc. (EXEL)2 2/7 4/10 10.465S $13 44.1 Goldman, Sachs & Co. Credit Suisse First Boston SG Cowen Securities $136.0 $125.1 Ixion Biotechnology Inc.3 8
By Randall Osborne Editor Ask any senior citizen, or anyone who tries to sort out his bills: the Medicare reimbursement system is nightmarishly complex. But, as tangled as the setup may be for regular people, it's fairly simple for biotech firms, and it has effects on profit-making that are as powerful as they are plain. Take, for example as an unknown number of patients do Remicade (infliximab) for rheumatoid arthritis (RA), developed by Centocor Inc. and approved in November for
Company (Country/Symbol) Company (Country/Symbol) Type/Product Area Terms/Details (Month) Abgenix Inc. (ABGX) Corixa Corp. (CRXA) Research collaboration/Use of Abgenix's XenoMouse technology to discover and develop monoclonal antibodies against selected targets from Corixa's library of autoimmune disease, cancer and infectious disease Six-year agreement covers three initial targets and up to six per year; each antibody eligible for clinical testing will be subject to a closed auction
By Randall Osborne Editor A few years ago, analysts couldn't stop talking about the biotech industry "maturing." As companies went under or merged, market sages often remarked that the tightening and refining went ahead by known and at least somewhat predictable laws of commerce: The strong survived, and the weak did not, and the in-betweens found other companies to take them over. The picture is more complicated now. With the advent of genomics and the creation of a database world, with
Company Acquired** Acquired By Or Merged With (Country) Date Announced Date Completed Value (M)*** Terms/Details I. COMPLETED MERGERS AND ACQUISITIONS Advanced Cell Technology Inc.* (purchase of majority stake owned by Avian Farm*) ACT Group Inc.* 2/00 2/00 ND ACT acquired a majorty of Avian Farm's interest in Advanced Cell, as well as stakes in two agbiotech companies (CIMA Biotechnology Inc. and Cyagra LLC); all three companies will remain separate, independently operating
By Randall Osborne Editor It was bound to happen. In the minds of reflective investors, and in the minds of people generally prone to philosophizing, the Internet and biotech have long had at least an incipient relationship although "long" has a different meaning than usual, in the fiercely fast-paced online world. Especially with regard to data-dependent genomics, the idea of moving coded information quickly (which is one way of describing the purpose of the Internet and, not
Company* (Symbol) Product Description Indication Status (Date)** CANCER Aastrom Biosciences Inc. (ASTM) Aastrom Replicell Cell Production System Automated clinical system designed to produce patient-specific cells for treatment of various diseases Stem-cell therapy for patients with breast cancer Results from Phase II trial published in 3/15/00 issue of Blood (3/15) AltaRex Corp. (Canada; TSE:AXO) BrevaRex MAb Murine monoclonal antibody against the MUC1 cancer antigen MUC1
By Randall Osborne Editor Just when it seemed safe (relatively) for biotech investors to go back in the water, stocks in the sector got yanked under two Fridays ago by the same monster that sank its teeth into the so-called "new economy" shares and others across the board. Even in the grim times lately, biotech had managed to keep more convincingly afloat than other technology stocks. One Friday, April 14, changed all that. Analysts use varying barometers to gauge the industry's
Company (Symbol)* Product Description Indication Status (Date)** CANCER Aphton Corp. (APHT) Anti-gastrin therapeutic vaccine; neutralizes hormone G17 and Gly-extended G17 Advanced pancreatic cancer Presented results from Phase II study in the UK at the annual meeting of the British Society of Gastroenterology in Birmingham, UK (3/24) Antisoma plc (UK; LSE:ASM) Therex Humanized antibody (huHMFG1), which targets polymorphic-epithelial mucin on tumor cells Breast cancer Obtained
By Randall Osborne Editor Just when it seemed agricultural biotechnology "ag biotech" had become a field in which investors could sow money and reap at least modest benefits without the big risks that come with drug development, the furor over genetically modified organisms (GMOs) in crops came to America. Ag biotech has become a tougher row to hoe. "The snowball started rolling down hill furiously last year, and from a global perspective, it's still rolling, and getting bigger and
I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: 325.1M Company Location Date Amt. (M) Details Achillion Pharmaceuticals Inc. New Haven, Conn. 3/27 $17 Achillion raised $17M in first round of financing, attracting investments from Schroder Ventures, Atlas Venture, Advent International, and Connecticut Innovations Inc. AlphaVax Inc. Durham, N.C. 3/7 $8.2 AlphaVax raised $8.2M in Series B financing, which attracted domestic and overseas institutions, as well as venture capital
TOTAL: $1,662.8 Company (Symbol)# Type Of Financing Number Of Shares, Units Or Warrants (M) Amount Raised ($M)* Investors; Placement Agents; Details (Date)@ Aastrom Biosciences Inc. (ASTM) Private placement of units 2.26U $6 Aastrom raised $6M through the sale to a single investor of 2.26M units, each of which consists of one share of common stock and a three-year warrant to purchase one-half of one share of common stock at an exercise price of $3.70; full exercise of the warrants
I. COMMENCED TRADING IN MARCH Company Date Filed Date Comm. Shares/Units Price Shares Out (M) Lead, Other Underwriters Gross ($M) Net ($M) INITIAL OFFERINGS Aclara Biosciences (ACLA)1 1/20 3/20 10.35S $21 32.5 Deutsche Banc Alex. Brown (co-lead) Warburg Dillon Read LLC (co-lead) U.S. Bancorp Piper Jaffray $217.4 $201.1 Allos Therapeutics Inc. (ALTH)2 1/26 3/28 5S $18 22.8 S.G. Cowen Prudential Vector Healthcare U.S. Bancorp Piper Jaffray $90.0 $82.7 Arius Research
By Randall Osborne Editor With the roaring success and abysmal, crashing failures that have characterized the biotech market lately, investors (and would-be players) have searched more desperately than usual for barometers, gauges, any means of measurement and prediction that might allow them to get in sooner on the "sure things" and get out sooner when the sure things go bad. It's a dangerous game. The small view is important to individuals with cash they're hoping to place on the
Biotech Co.* (Country/Symbol) Pharma Co. (Country/Symbol) Product Amount (M) Terms/Details (Date)** Access Pharmaceuticals Inc. (OTC BB: AXCS) Mipharm SpA (Italy) Various formulations of amlexenox for treating several diseases, including mucositis, oral lichenplanus and atopic dermatitis ND Mipharm gains marketing rights for Italy, Switzerland, Turkey and Lebanon; Access has granted Mipharm manufacturing rights for Europe for the products; Mipharm will make an equity investment in
Company (Country/Symbol) Company (Country/Symbol) Type/Product Area Terms/Details (Month) Abgenix Inc. (ABGX) Gliatech Inc. (GLIA) License and option agreement/use of Abgenix's XenoMouse technology to generate fully human monoclonal antibodies to the complement protein properdin for use in the fields of cardiovascular and inflammatory diseases Abgenix will receive a technology access payment and could receive additional fees and milestones, plus royalties on product sales; Gliatech will
By Randall Osborne Editor It's either a beneficent way for physicians to get medicine into the hands and bodies of needful patients (and, not incidentally, for drug makers and their biotech partners to make extra money), or it's a dangerous practice that can lead to worsened illness or death, when pursued by eager or inexperienced doctors. When the subject is off-label drug use, opinions on both sides are fiercely held. Last summer, a federal court ruled the FDA's ban on pharmaceutical
Biotech Co.* (Symbol) Pharma Co. (Symbol/Country) Type/Product Area Disclosed Funding (M) Terms/Details (Month) MODIFIED AGREEMENTS Abgenix Inc. (ABGX) Pfizer Inc. (NYSE:PFE) Expansion and extension of 12/97 antibody collaboration using Abgenix's XenoMouse technology to generate therapeutic antibodies ND Companies extended agreement two years and agreed to include up to two additional antigen targets, raising the total number of possible product candidates to five; Pfizer will be
TOTAL: $368.92M Company (Symbol)# Type Of Financing Number Of Shares, Units Or Warrants (M) Amount Raised ($M)* Investors; Placement Agents; Details (Date)@ AltaRex Corp. (Canada; TSE:AXO) Warrant exercise 5.687 shares C$5.4 (US$3.66) AltaRex received C$5.4M (US$3.66M) from the exercise of special warrants sold 2/29/00 into common shares (4/20) Aphton Corp. (APHT) Private placement of common stock 0.49 shares $16.22 Aphton sold 0.49M shares of common stock at $33 per share to