I. COMPLETED MERGERS AND ACQUISITIONS FIRST QUARTER Company Acquired (Country Symbol) Acquired By Or Merged With (Country Symbol) Date Announced Date Completed Value (M)*** Terms/Details Agowa AG* (Germany) LGC Group (UK) 1/12/06 1/12/06 ND LGC extended its European operations through the acquisition of Agowa, a genomics company in Germany Agribiotics Holdings Inc.* (Canada) Nitragin Holding Inc. (Canadian affiliate of Merck KGaA) 3/28/06 3/28/06 €20 ($24) Nitragin acquired
State of the Industry Report | Wednesday, May 23, 2007
Company* (Symbol)** Funding Institution Amount (M) Type Details (Date) Acambis plc (UK ACAM) Centers for Disease Control and Prevention $30 Contract award Acambis will supply a further 10M doses of ACAM2000 small-pox vaccine, for $30M Acambis previously supplied 182.5M doses (9/13) Achaogen Inc.* U.S. Department of Defense $24.7 Defense Threat DTRA funded the first year of a Reduction Agency potential $24.7M four-year deal contract under which Achaogen will develop small-molecule
State of the Industry Report | Wednesday, May 23, 2007
Company (Symbol)# Partner (Country) Amt. (M) Triggering Event Details (Date) JANUARY Alizyme plc (UK LSE AZM) Takeda Pharmaceutical Co. Ltd. (Japan) $2 Milestone payment Triggered by Takeda beginning a Phase II trial in Japan of cetilistat for treating obesity and related diseases (1/20) Array BioPharma Inc. (ARRY) AstraZeneca plc (UK) $1 Milestone payment Triggered by selection of an additional clinical candidate in their small-molecule cancer program that began in December 2003
State of the Industry Report | Wednesday, May 23, 2007
Company Location Date Amt. (M) Details JANUARY AbAg Chilly Mazarin, France 1/19/06 €6 ($7.2) The Series B financing was led by Innoven Partners, and included Societe Generale Asset Management Acceleron Pharma Inc. Cambridge, Mass. 1/5/06 $8 The financing was provided by Hercules Technology Growth Capital Inc. Accium Seattle 1/5/06 $3 The financing was provided by WRF Capital BioSciences Adlyfe Inc. Rockville, Md. 1/17/06 $3.3 Investors in the Series A financing included
State of the Industry Report | Wednesday, May 23, 2007
Company (Symbol)# Type Of Financing Number Of Shares, Units Or Warrants (M) Amount Raised ($M) Investors Placement Agents Details (Date) JANUARY Akesis Pharmaceuticals Inc. (OTC BB AKES) Private placement of stock and warrants 2S and 1W $4 The shares are being sold at $2 each the three-year warrants are exercisable at $3 per share (1/6) Amarin Corp. plc (UK AMRN) Private placement of stock and warrants 0.8S and 0.28W $2 The shares were sold at $2.50 each to existing investor Tony
State of the Industry Report | Wednesday, May 23, 2007
U.S. Public Follow-On Stock Offerings Company Offering Month Offering Price 2006 Close % Change Acadia Pharmaceuticals Inc. April $12 $8.79 -27% Adolor Corp. February $25 $7.52 -70% Advanced Magnetics Inc. March $27.46 $59.72 +117% Advanced Magnetics Inc. December $62 $59.72 -4% Alnylam Pharmaceuticals Inc. January $13 $21.40 +65% Alnylam Pharmaceuticals Inc. December $22 $21.40 -3% Alexion Pharmaceuticals Inc. November $43 $40.39 -6% Amylin
State of the Industry Report | Wednesday, May 23, 2007
I. Initial Public Offerings On U.S. Markets Company Offering Month Offering Price 2006 Close* % Change Achillion Pharmaceuticals Ind. October $11.50 $16.11 +40% Acorda Therapeutics Inc. February $6 $15.84 +164% Affymax Inc. December $25 $34.04 +36% Alexza Pharmaceuticals Inc. March $8 $11.39 +42% Altus Pharmaceuticals Inc. January $15 $18.85 +26% BioMimetic Therapeutics Inc. May $8 $13.19 +65% Cadence Pharmaceuticals Inc. October $9 $12.32 +37% Catalyst
State of the Industry Report | Wednesday, May 23, 2007
Company (Symbol) Date Filed Date Comm. Shares/ Units (M) Price Shares Out (M) Lead, Other Underwriters Gross (M) Post-Offering Market Cap (M)@ JANUARY Alnylam Pharmaceuticals Inc. (ALNY) 1/23/06 1/31/06 5.116S $13 31.76 Morgan Stanley & Co. Banc of America Piper Jaffray & Co. SG Cowen & Co. Rodman & Renshaw $66.5 $412.9 Arena Pharmaceuticals Inc. (ARNA) 1/17/06 1/27/06 10.637S $16.90 46.13 CIBC World Markets UBS Investment Bank Needham & Co. Piper Jaffray & Co. SG Cowen
State of the Industry Report | Monday, May 21, 2007
Company (Symbol) Date Filed Date Comm. Shares/ Units (M) Price Shares Out (M) Lead, Other Underwriters Gross (M) Post-Offering Market Cap (M)@ JANUARY Altus Pharmaceuticals Inc. (ALTU) 10/17/05 1/26/06 7S $15 21.00 Merrill Lynch & Co. Morgan Stanley (co-lead) SG Cowen & Co. $105 $315.0 SGX Pharmaceuticals Inc. (SGXP) 9/2/05 1/31/06 4.153S $6 14.35 CIBC World Markets Piper Jaffray & Co. (co-lead) JMP Securities $24.92 $86 FEBRUARY Acorda Therapeutics Inc. (ACOR) 10/5
State of the Industry Report | Monday, May 21, 2007
Company Symbol 12/31/05 3/31/05 6/30/05 9/30/05 12/31/06 % YTD Adherex AHX 0.96 1.04 0.8 0.5 0.39 -59.4 Allon NPC 0.8 1 1.05 0.9 0.9 12.5 Angiotech ANP 15.36 17.67 13.61 10.34 9.59 -37.6 Bioniche Life BNC 0.7 0.79 0.73 0.74 1.5 114.3 Cangene CNJ 10.05 9.12 9 8.5 8.18 -18.6 Cardiome Phar COM 11.62 14.09 9.3 12.9 13.02 12.0 Chromos CHR 0.16 0.2 0.17 0.17 0.15 -6.3 ConjuChem CJB 1.05 1.34 2.25 1.22 0.71 -32.4 Ecopia Biosci EIA