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