I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $95.6M | ||||
Company | Location |
Date@ |
Amt. (M) | Details |
Argonex Inc. (Series B) | Charlottesville, Va. |
12/7 | $9.6 |
Argonex raised $9.6M in a second-round private financing; participants included lead investor Advent Capital, of London, as well as Healthcare Ventures LLC and Riggs Capital Partners |
Array Biopharma Inc. (Series B) | Boulder, Colo. | 12/7 |
$8 | Array completed its second round of private equity financing; investors included Boulder Ventures Ltd., Frazier & Co., Arch Venture Partners, Falcon Technology Partners, Advent International and Mitsui & Co. (USA) Inc. |
Myogen Inc. (Series C) | Boulder, Colo. | 12/15 |
$18 | Myogen completed an $18M private placement led by New Enterprise Associates; existing investors included Sequel Venture Partners, Crosspoint Venture Partners and InterWest Partners; new investors were CMEA Ventures and New Venture Partners |
Origenix Technologies Inc. (Round ND) | Montreal |
12/13 | $2 | Origenix received gross proceeds of $2M from the closing of the final tranche of its previously announced $6M equity investment; the new investment was triggered by the achievement of certain specific milestones as stipulated in the original subscription agreement |
Quorex Pharmaceuticals Inc. (Series A) |
Carlsbad, Calif. | 12/6 |
$1.1 | Quorex completed the first closing of a $1.1M equity financing; investors included Tullis-Dickerson & Co. Inc. |
Structural GenomiX (Series A) | San Diego |
12/15 |
$7.5 |
Structural GenomiX completed a $7.5M round of initial venture capital financing; investors were Atlas Venture, Prospect Venture Partners and Appletree Partners |
Sunesis Pharmaceuticals Inc. (Series B) |
Redwood City, Calif. | 12/6 | $25.2 | Sunesis completed a Series B preferred stock financing led by new investors E.M. Warburg, Pincus & Co. LLC, International Biomedicines and New Medical Technologies; existing investors included Mayfield Fund, Venrock Associates, Abingworth Management and Skyline Ventures; Hamilton Capital Ltd. acted as placement agent for a portion of the financing |
Tanox Inc. (Round ND) |
Houston |
12/13 | $23.7 | Tanox completed two private placements covering the sale of 1.18M shares of unregistered common stock to select institutional and accredited investors in Europe and Taiwan; KBC Securities NV acted as placement agent in Europe; further details ND |
Versicor Inc. |
Fremont, Calif. |
12/9 | $0.5 | Versicor received a $0.5M milestone payment from Novartis Pharma AG under the terms of their collaboration for the discovery of antibacterials that inhibit deformylase and the Mur pathway |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $26.5M
Company (Symbol)# |
Partner (Symbol; Country) |
Amt. (M) |
Triggering Event |
Details (Date) |
Cell Genesys Inc. (CEGE) |
Japan Tobacco Inc. (Japan) |
$4.5 | Completion of Phase I/II trial | Cell Genesys received a $4.5M payment following the completion of an initial Phase I/II trial of GVAX lung cancer vaccine (12/10) |
Japan Tobacco Inc. (Japan) | $2.5 | Terms of collaboration agreement |
CellGenesys received a $2.5M payment following the first anniversary of its worldwide collaboration with Japan Tobacco for the development of GVAX cancer vaccine (12/27) |
|
Corvas International Inc. (CVAS) |
Schering-Plough Corp. (NYSE:SGP) | $3 | Extension of collaboration agreement |
Corvas received $3M in funding from Schering-Plough following the extension of their collaboration to develop and commercialize oral anticoagulants based on inhibitors of key protease enzymes in the blood-clotting process (12/14) |
Genome Therapeutics Corp. (GENE) | Schering-Plough Corp. (NYSE:SGP) |
ND | Achievement of collaboration | Genome Therapeutics received an undisclosed payment from Schering-Plough related to their alliance to discover new therapeutics for treating asthma (12/20) |
Guildford Pharmaceuticals Inc. (GLFD) |
Amgen Inc. (AMGN) | $5 | Achievement of development milestone | Guildford received a $5M payment from Amgen for clinical development in their neuroimmunophilin collaboration (12/9) |
ImClone Systems Inc. (IMCL) |
Merck KGaA (Germany) | $6 | Expansion of Phase III trial |
ImClone received $6M from Merck for the expansion of a Phase III trial of ImClone's C225 cancer therapeutic into Spain (12/2) |
Millennium Pharmaceuticals Inc. (MLNM) |
Eli Lilly & Co. (NYSE:LLY) |
ND | Delivery of validated target | Millennium received an undisclosed milestone payment from Lilly upon Lilly's acceptance of a validated target for drug candidate screening for the treatment of prostate cancer (12/20) |
Millennium Pharmaceuticals Inc. (MLNM) |
Wyeth-Ayerst Research (a division of American Home Products Corp.; NYSE:AHP) | ND | Delivery of validated target | Millennium received an undisclosed milestone payment from Wyeth-Ayerst upon Ayerst's acceptance of a validated target for high-throughput screening (12/13) |
Oxford Assymetry International plc (UK; LSE:OAI) | Ontogeny Inc.* | ND | Achievement of collaborative milestone | Oxford received an undisclosed payment from Ontogeny as a result of achieving a target biological activity in a lead optimization program (12/14) |
Quark Biotech Inc.* |
Mitsubishi-Tokyo Pharmaceuticals Inc. (Japan) | ND | Terms of collaborative agreement |
Quark received an undisclosed milestone payment under an existing collaborative research and license agreement (12/15) |
Transkaryotic Therapies Inc. (TKTX) | Aventis (a division of Aventis S.A.; NYSE:AVE) |
$2.5 |
Filing of investigational new drug application (IND) |
Transkaryotic Therapies received a $2.5M payment from Aventis upon filing an IND with the FDA to commence Phase I studies of a gene-activated protein product (12/21) |
V.I. Technologies Inc. (VITX) |
Pall Corp. (NYSE: PLL) |
$3 | Commencement of Phase I patient enrollment |
V.I. Technologies received a $3M payment from Pall as a result of enrolling the first patient in a Phase I trial of the company's Inactine viral inactivation technology (12/6) |
Notes: | ||||
@ The dates listed indicate the issue dates of press releases, and are not necessarily the dates on which stated events took place. | ||||
* Indicates a privately held company. | ||||
# Unless otherwise indicated, the stock symbols listed are on the Nasdaq Market | ||||
LSE = London Stock Exchange; NYSE = New York Stock Exchange |