Type of financing Jan $(M) Total $(M) Public offerings 387.9 387.9 Private Biotechs 289.5 289.5 Public/other 811.1 811.1 Milestones and equity buys from partners 18.0 18.0 Total $(M) 1,506.5 1,506.5 Notes: Public offerings = Initial, follow-on Private Biotechs = Financing of private firms Public/other = Other financings of public companies, including loans, bridge financings, exercises of warrants, debt offerings, rights offerings, standard private placements, PIPE
Underwriter (Number of Offerings As Lead/Number of Offerings As Lead Or Co-manager) After-Market Performance (Average) Lehman Brothers (1/2) +456% Pacific Growth Equities Inc. (0/2) +393% A.G. Edwards & Sons Inc. (0/1) +283% Robertson Stephens (1/7) +252% Invemed Associates Inc. (0/2) +229% Goldman, Sachs & Co. (1/3) +203% Cruttendon Roth Inc. (1/1) +202% China Everbright Securities (0/1) +189% The New China Hong Kong Securities Ltd. (0/1) +189% Westport Resources Investment
By Randall Osborne Editor Talk about an "open window" for financing. That's what biotech analysts have been talking about, off and on, for many months, periodically trotting out the tired "window" metaphor as wave after wave of encouraging financial news crested and then broke against the shore, leaving a suddenly quiet sea of companies, worried again and scrounging for cash. Enthusiasm would rise for a week or two, when a handful of firms found investors or, more rarely, went public
Underwriter (Number of IPOs As Lead/Number of IPOs As Lead Or Co-manager) After-Market Performance (Average) A.G. Edwards & Sons (0/1) +283% Deutsche Banc Alex. Brown@ (1/1) +283% Goldman, Sachs & Co. (1/2) +261% Robertson Stephens (0/2) +261% Invemed Associates (0/2) +229% Donaldson, Lufkin & Jenrette (1/2) +207% Warburg Dillon Read LLC (0/3) +203% China Everbright Securities (0/1) +189% The New China Hong Kong Securities Ltd. (0/1) +189% Westport Resources Investment
Biotech Co.** (Symbol) Pharma Co. (Symbol/Country) Type/Product Area Amount ($M) Terms/Details (Date)@ MODIFIED AGREEMENTS Abgenix Inc. Pfizer Inc. (NYSE:PFE) Exercise of option under 12/97 agreement to use Abgenix's XenoMouse technology to generate fully human antibodies against undisclosed antigen targets ND Pfizer exercised an option for a third antigen target; Abgenix will use XenoMouse to generate fully human antibodies for Pfizer and could receive research, license fees and
Biotech Company** (Country) Agribusiness Partner (Symbol/Country) Type/Product Area Amt. ($M) Terms/Details (Month) 3-Dimensional Pharmaceuticals Inc.* Hoechst Schering AgrEvo GmbH1 (Germany) Research collaboration/use of 3D's compound libraries and DirectedDiversity optimization technology to discover and refine new agrochemicals ND AgrEvo has exclusive rights to commercialize agricultural products discovered during the collaboration; 3D retains rights for non-agrochemical uses of
Company Acquired** (Country) Acquired By Or Merged With (Country) Date Announced Date Completed/Terminated@ Value ($M) Terms/Details PENDING AND COMPLETED Hoechst AG (including Hoechst Schering AgrEvo, a joint venture of Hoechst and Schering AG; both of Germany) Rhone-Poulenc S.A.'s agricultural enterprises (France; NYSE:RP) 12/98 12/99 22,000 Merging of agricultural businesses is part of larger merger of Hoechst's and Rhone-Poulenc's life sciences businesses into Aventis SA (NYSE
By Randall Osborne Editor After the Financial Accounting Standards Board (FASB) voted last April to eliminate the pooling-of-interests accounting rule at the end of this year, some analysts expected biotech firms to hurry along their mergers and acquisitions, and maybe plan to seal their deals before the rule change takes effect. But what seemed due to become an "everybody into the pool" situation has turned into nothing of the kind. Instead, analysts say, companies mulling mergers and
Biotech Co.* (Symbol, country) Pharma Co. (Symbol, country) Product Amount (M) Terms/Details (Date) Avanir Pharmaceuticals (OTC BB: AVNR) SmithKline Beecham plc (NYSE:SBH) Docosanol 10% cream in the over-the-counter market for treatment of recurrent oral-facial herpes ND SmithKline signed letter of intent for rights to market docosonal 10% over the counter (12/99) AVAX Technologies Inc. Neptunus International Holdings Ltd. (Australia) M-Vax, an autologous cancer vaccine for
Biotech Co.* (Symbol) Pharma Co. (Symbol/Country) Type/Product Area Amount (M) Terms/Details (Date) Affymetrix Inc. Sankyo Co. Ltd. (Japan) Technology access/access to GeneChip arrays and related technology for gene-expression monitoring ND Under EasyAccess Silver agreement, Sankyo gains broad access to GeneChip technology (11/99) Aurora Biosciences Corp. Glaxo Wellcome plc (NYSE:GLX) Research collaboration/ion channel drug discovery through access to Aurora's ion channel
Company* (Country, symbol) Company# (Country, symbol) Type/Product Area Terms/Details (Month) Abgenix Inc. Chiron Corp. Research license and option agreement under which Chiron will use Abgenix's XenoMouse technology to generate fully human monoclonal antibodies to an undisclosed antigen in the field of autoimmune diseases; in a separate agreement, Chiron may use the XenoMouse to generate fully human antibodies to up to 4 cancer targets Abgenix will receive a technology access payment
By Randall Osborne Editor Over the years, biotech has seen plenty of Holy Grails come and go so many that the phrase has become a weary cliche in the industry. When researchers began finding single nucleotide polymorphisms (SNPs), and linking these DNA variations to the propensity for disease, the science of doing so became yet another so-called key to drug design. Maybe SNPs work really will prove to merit the ballyhoo. But, with the oft-bemoaned logjam of genomics data, the question
Type of financing Jan $(M) Total $(M) Public offerings 387.9 387.9 Private Biotechs 289.5 289.5 Public/other 811.1 811.1 Milestones and equity buys from partners 18.0 18.0 Total $(M) 1,506.5 1,506.5 Notes: Public offerings = Initial, follow-on Private Biotechs = Financing of private firms Public/other = Other financings of public companies, including loans, bridge financings, exercises of warrants, debt offerings, rights offerings, standard private placements, PIPE