Biotech Co.* (Symbol) Pharma Co. (Symbol/Country) Type/Product Area Disclosed Funding (M) Terms/Details (Date) 3-Dimensional Pharmaceuticals Inc.* DuPont Pharmaceuticals Co. (subsidiary of E.I. DuPont de Nemours & Co.; NYSE:DD) Research collaboration/target discovery and use of 3-D's Directed Diversity technology to generate combinatorial chemistry libraries for drug discovery $9 3-D will generate custom libraries and optimize them to obtain preclinical candidates; for the initial
By Randall Osborne Editor Today, a single question prevails in biotech, and it's the same question officials have been asking since the industry first began to show serious signs of life in the pharmaceutical marketplace. It's just become more complicated to answer. The question: How "real" is success? Once regarded by the public as the domain of mad scientists bent on cloning humans for sinister though indistinct purposes, biotech has matured into a respected science aimed at
Company* University/Non-Profit [Scientist] Type Of Agreement Product Area Details (Month) ACADIA PharmacoGenomics (wholly owned subsidiary of ACADIA Pharmaceuticals Inc.*) Karolinska Institute CMM (Sweden) Research collaboration Pharmacogenomic project in antipyschotic field Collaboration will compare two patient populations: a group that responds to the traditional anti-psychotic haloperidol, and a group that does not respond to traditional agents but does respond to clozapine; ACADIA
By Randall Osborne Editor For months, as the Nasdaq climbed and sometimes soared in response to momentum investors throwing their dollars into what looked like the latest "sure thing," genomics, market watchers had been muttering about how overvalued some biotech stocks had become, how the trend had to slow down, how it couldn't go on much longer. But it went on. Fascination with "dot-com" firms had worn off, and deep-pocketed speculators turned their gaze and directed their funds
Company* (Symbol) Product Description Indication Status (Date)** CANCER Atrix Laboratories Inc. (ATRX) Slow-release formulation of leuprolide acetate us-Atrix's Atrigel drug delivery technology Prostate cancer Submitted IND (2/1) Cell Pathways Inc. (CLPA) Aptosyn Exisulind; orally active drug designed to induce apoptosis in precancerous cells; inhibits a cyclic GMP phosphodiesterase Precancerous colon polyps in patients with familial adenomatous polyposis Cell Pathways met
Company* (Symbol) Product Description Indication Status (Date)** CANCER AltaRex Corp. (Canada; TSE:AXO) OvaRex MAb Anti-idiotype induction therapy-based vaccine; consists of modified murine monoclonal antibody that binds to CA125 cancer antigen Ovarian cancer Presented data from 25-patient open-label clinical study at the 31st Annual Meeting of the Society of Gynecologic Oncologists in San Diego BioMedicines Inc.* Biomed 101 Orally bioavailable drug that binds to the leukotriene
By Randall Osborne Editor SEATTLE Take a broad research platform with plenty of flexibility, add a penchant for information sharing, and keep always an eagerness to partner while not giving away the store. Such is the recipe for getting ahead in biotech, said Ed Fritzky, chairman, CEO and president of Immunex Corp. "If you rely just on hitting the home run creating the blockbuster you may be waiting a long time," said Fritzky in his large-windowed office at the company's
Company (Symbol)* Product Description Indication Status (Date)** CANCER CEL-SCI Corp. (AMEX: HIV) Multikine Natural mixture of human cytokines, including interleukin-2 Advanced head and neck cancer Presented results of Phase II trial in Poland and the Czech Republic at the Biotechnology Industry Organization's CEO & Investor Conference in New York (2/15) Genzyme General (division of Genzyme Corp; GENZ) and Biobras SA (Brazil) Thyrogen (FDA-approved) Recombinant human thyroid
I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $108.0M Company Location Date Amt. (M) Details Cythera Inc. San Diego 2/3 $2 Cythera raised $2M in initial round of venture financing from Sanderling, Alta Partners and Graystone Venture Direct Equity Deltagen Inc. Menlo Park, Calif. 2/1 $22.5 Deltagen raised $22.5M in round led by Boston Millennia Partners and including investments from The Sprout Group, Baccharis Capital, Crossroads and Lombard Odier & Cie Digital Gene
TOTAL: $3,530.2M Company (Symbol)# Type Of Financing (M) Number Of Shares, Units Or Warrants Amount Raised ($M)* Investors; Placement Agents; Details (Date)@ American Biogenetic Sciences Inc. (OTC BB: MABA) Private placement of preferred shares $3 Biotechnology Value Fund L.P. and affiliates agreed to invest $3M in Series A preferred stock (2/10) AMRAD Corp. Ltd. (ASX:AML) Sale of division A$14 (US$8.9) CHEMICON International Inc. agreed to pay A$14M (US$8.9M) for the
By Randall Osborne Editor Define the word "gene." Define the word "patent." Now, define the phrase "gene patent." Webster's dictionary offers plenty of guidance with regard to the meanings of each of the two words alone, and any Biotech 101 student can recite them on command even if some may argue over fine points. But when it comes to the pair of words combined, even the more sophisticated scholars may stumble. The industry itself hardly is hobbled by the complexity and confusion of
Company* (Symbol) Product Description Indication Status (Date)** CANCER Biomira Inc. (Canada; BIOM) BLP25 vaccine Vaccine incorporates a synthetic 25-amino-acid sequence of the MUC-1 cancer mucin encapsulated in a synthetic liposomal delivery system Advanced non-small-cell lung cancer Biomira presented Phase I and II data at a Keystone Symposium titled "Cellular Immunity and Immunotherapy of Cancer" in Santa Fe, N.M. (1/26); company began second stage of Phase II trial program
Company* (Symbol) Product Description Indication Status (Date)** CANCER Access Pharmaceuticals Inc. (OTC BB: AXCS) OraRinse 0.5% mucoadhesive solution of amlexanox Mucositis Received clearance to begin Phase II trial (1/27) AltaRex Corp. (Canada; TSE:AXO) OvaRex MAb Anti-idiotype induction therapy-based vaccine; consists of modified murine monoclonal antibody that binds to CA125 cancer antigen Advanced-stage ovarian cancer Company developed a clinical plan in conjunction with
Company* (Symbol) Product Description Indication Status (Date)** CANCER AltaRex Corp. (Canada; TSE:AXO) OvaRex MAb Anti-idiotype induction therapy-based vaccine; consists of modified murine monoclonal antibody that binds to CA125 cancer antigen Advanced-stage ovarian cancer Presented retrospective data at the 31st Annual Meeting of the Society of Gynecologic Oncologists in San Diego (1/8) OvaRex MAb Anti-idiotype induction therapy-based vaccine; consists of modified murine
By Randall Osborne Editor Genomics is the buzzword these days for big-money biotechnology investors, but the industry-wide boom has provided "breathing room" for just about all sectors, including drug delivery and especially pulmonary drug delivery, which has been somewhat overlooked until lately. "It's just now being noticed," said Peter Ginsberg, an analyst with U.S. Bancorp Piper Jaffray in Minneapolis. Although the pulmonary route is not, as yet, widely hailed as the solution for
By Randall Osborne Editor Once hailed as biotech's "magic bullet," monoclonal antibodies have not so much misfired as they seem to have been replaced in the eyes of many investors, at least by the shotgun ammunition made available through genomics, spraying the terrain with previously unavailable data that seem sure to revolutionize medicine. Does last week's $630 million follow-on offering by Abgenix Inc. herald a resurgence of interest in the field, as some analysts propose, or is it
I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $289.5 Company Location Date Amt. (M)* Details Adolor Corp. Malvern, Pa. 1/19 $12.3 Adolor raised $12.3M in a private placement that drew previous investors Alta Partners, ARCH Venture Partners, Falcon Technology Partners, OneLiberty Partners, S.R. One Ltd., TL Ventures, Tredegar Investments, and Weiss, Peck & Greer Venture Partners; OrbiMed Advisors participated in this 5th round of financing as well Conjuchem Montreal 1/12 C$3
TOTAL: $811M Company (Symbol)# Type Of Financing Number Of Shares, Units Or Warrants (M) Amount Raised ($M)* Investors; Placement Agents; Details (Date) @ Advanced Tissue Sciences Inc. (ATIS) Exercise of warrants 1.75S $7 The State of Wisconsin Investment Board exercised warrants to purchase 1.75M shares of common stock at $4 per share; warrants were a component of the 3.75M units sold to the investment board in 11/99 and bring the board's direct ownership to more than 16% (1/31
I. COMMENCED TRADING IN JANUARY Company (Symbol) Date Filed Date Comm. Shares/Units Price (M) Shares Out (M) Lead, Other Underwriters Gross ($M) Net ($M) INITIAL OFFERINGS No initial public offerings commenced trading in January. FOLLOW-ON OFFERINGS Gene Logic Inc. (GLGC)1 1/13 1/27 4.68 $56.00 24.8 ING Barings; Chase H&Q; Robertson Stehens; Dain, Rauscher Wessels $262 $249E Vical Inc. (VICL)2 12/16 1/21 3.45 $36.50 19.6 Goldman, Sachs & & Co.; Robertson
Biotech Co.* (Symbol) Pharma Co. (Symbol/Country) Type/Product Area Disclosed Funding (M) Terms/Details (Date) 3-Dimensional Pharmaceuticals Inc.* DuPont Pharmaceuticals Co. (subsidiary of E.I. DuPont de Nemours & Co.; NYSE:DD) Research collaboration/target discovery and use of 3-D's Directed Diversity technology to generate combinatorial chemistry libraries for drug discovery $9 3-D will generate custom libraries and optimize them to obtain preclinical candidates; for the initial