LONDON – International Biotechnology Trust (IBT) reported strong returns for shareholders, driven by new drug approvals, high levels of merger and acquisition activity and the resilience of leading biotech companies in the current growth-stunting environment

Company (Location) Funding Institution Amount (US$M) Type Details Date July Biodel Inc. (Danbury, Conn.) National Institutes of Health $0.582 SBIR grant For the development of concentrated ultra-rapid-acting insulin formulations for use in an artificial pancreas, also known as a closed loop pump system 7/27/12 Oxford BioMedica plc (London) Foundation Fighting Blindness $0.125 Grant To support the opening of a second trial site in Paris for the UshStat Phase I/IIa study 7/24/12 SRI International

LONDON – International Biotechnology Trust (IBT) reported strong returns for shareholders, driven by new drug approvals, high levels of merger and acquisition activity and the resilience of leading biotech companies in the current growth-stunting environment

Public biotech company stock symbols can be found in the stock report located on the last two pages of this issue

Company (Location) Product Description Indication Status Date AUTOIMMUNE GeNeuro SA (Geneva) GNbAC1 Humanized monoclonal antibody targeting a human endogenous retrovirus Multiple sclerosis Launched a Phase IIa study 9/19/12 KaloBios Pharmaceuticals Inc. (South San Francisco) KB003 An anti-GM-CSF Humaneered monoclonal antibody Severe asthma Started a Phase II study 9/13/12 Opexa Therapeutics Inc. (The Woodlands, Texas) TceIna Personalized T-cell therapy Secondary progressive multiple sclerosis

In the main, the sector is being driven by the large-cap companies, and there is no reason to believe that the small-cap biotech companies will outperform the larger cap biotechs over the next six to nine months...When was the last time did we see two biotech companies price their IPOs at the top end of their ranges on the same day

Public biotech company stock symbols can be found in the stock report located on the last two pages of this issue

biotech company stock symbols can be found in the stock report located on the last two pages of this issue

Over the past five years we have seen people investing out of fear rather than with conviction." – Srini Akkaraju, managing director, New Leaf Venture Partners "When was the last time we saw two biotech companies price their IPOs at the top end of their ranges on the same day

it also performed better than Asacol 9/28/12 Notes: Public biotech company stock symbols can be found in the stock report located on the last two pages of this issue

The High Technology Small Business Research Incentives Act would allow small biotech companies, and other highly intensive R&D companies, to enter into a joint venture with investors to support a specific research and development project...Further, there were only 98 first-round venture deals with biotech companies in 2011, a significant drop from the industry's peak of 141 in 2007," said Eisenberg

The sector posted a very strong third quarter performance driven by public biotech companies. (See the third quarter analysis on p. 1.) Since the emphasis of the forum is on early and established private companies as well as emerging public companies, the agenda has a heavy dose of business roundtables focused on early stage and creative financing and partnering strategies...Raising capital continues to be a challenge for early stage emerging biotech companies, Alan Eisenberg, executive vice

In its 11th year, BIF has become one of the established events for biotech companies embarked on their own "campaign" tour of fundraising...The panelists also said there were encouraging signs that pharmaceutical and big biotech companies were willing to structure creative investment deals

Robert Menendez (D-N.J.) and Olympia Snowe (R-Maine) would allow biotech companies to enter joint ventures with investors, who would then be able to write off losses and claim tax credits for research and development projects

The sector posted a very strong third quarter performance driven by public biotech companies. (See the third quarter analysis on p. 1.) Since the emphasis of the forum is on early and established private companies as well as emerging public companies, the agenda has a heavy dose of business roundtables focused on early stage and creative financing and partnering strategies...Raising capital continues to be a challenge for early stage emerging biotech companies, Alan Eisenberg, executive vice

Welcoming Markets The welcoming capital markets have allowed biotech companies, both large and small, to take advantage of their increased stock values to conduct follow-on financings...According to BioWorld Snapshots, there were nine biotech companies on the IPO runway at the end of September

The increased public financing in the third quarter helped global biotech companies collectively raise $5.91 billion, an amount that was 111 percent more than the $2.75 billion raised in the third quarter of 2011...According to BioWorld Snapshots there are nine biotech companies on the IPO runway

The famous valley of death for entrepreneurs and start-up biotech companies is a real problem, and the economic climate is not helping," Marc Lemonnier, Antabio's founder and CEO, told BioWorld Today

Company Company Deal Value Molecular Partners AG Allergan Inc. $1.46B Xenon Pharmaceuticals Genentech Inc. $646M Inhibrx LLC Celgene Corp. $500M Genentech Inc. AC Immune SA $421M Ironwood Pharmaceuticals Bionomics Ltd. $345M Isis Pharmaceuticals Inc. Biogen Idec Inc. $271M Mersana Therapeutics Endo Pharmaceuticals $270M Epizyme Inc. Celgene Corp. $250M Concert Pharmaceuticals Avanir Pharmaceuticals $200M BioDelivery Sciences Endo Pharmaceuticals $180M