I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $379.25M | ||||
Company |
Location |
Date |
Amt. (M) |
Details |
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Arrow Therapeutics |
London |
10/1 |
£21 (US$35) |
Atlas Venture led the Series B round, which is expected to be the round's first closing; other investors were NIF and ITX of Japan and Scottish Widows Investment Partnership, along with previous investors that also participated |
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Barrier |
Princeton, N.J. |
10/27 |
$32 |
Barrier raised $32M in a Series C financing; MPM Capital led the round, which included all of the company's previous institutional investors |
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Biospect Inc. |
South San Francisco |
10/21 |
$27 |
Biospect raised $27M in a Series A financing; investors were Advent Venture Partners, Prospect Venture Partners, Venrock Associates and Versant Ventures |
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BioVex Ltd. |
Oxford, UK |
10/6 |
£17 (US$28.3) |
BioVex raised US$28.3M in a third round of financing; Scottish Equity Partners led the round that included ABN AMRO Capital, Avalon Ventures, Credit Lyonnais Private Equity and Sitka Health Fund VCT, all new investors; all the company's major existing investors also participated |
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CellzDirect Inc. |
Tucson, Ariz. |
10/20 |
$2 |
CellzDirect raised $2M in a financing that included existing investors Valley Ventures, Solstice Capital, Technology Funding and Village Ventures |
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Collegium |
Cumberland, R.I. |
10/28 |
ND |
Collegium raised an undisclosed amount from a Series A financing; Boston Millennia Partners was the investor |
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CoTherix Inc.* |
Belmont, Calif. |
10/14 |
$55 |
CoTherix raised $55M in a Series C round; MPM Capital led the financing, along with Sofinnova Partners, Frazier Healthcare Ventures, Thomas Weisel Healthcare Ventures and existing investors |
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Critical |
Cambridge, Mass. |
10/8 |
$56 |
CTI raised $56M in a Series B financing; Advanced Technology Ventures and Johnson & Johnson Development Corp. co-led the round, which included MedImmune Ventures, Oxford Bioscience Partners, HealthCare Ventures and MPM Capital |
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Elixir |
Cambridge, Mass. |
10/13 |
$19 |
Elixir raised $19M in the second closing of its Series B round, the first part of which was $21.5M and closed in February; the investors in the new closing were not disclosed |
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Favrille Inc. |
San Diego |
10/13 |
$10.6 |
Favrille raised an additional $10.6M in its Series B round, which now totals about $33.5M; Sandering Ventures led the round, which included Forward Ventures, Alloy Ventures, De Novo Ventures, Lotus BioScience Investment Holdings Ltd., Gray Ghos LLC and Heller Financial Leasing Inc. |
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GenPath |
Cambridge, Mass. |
10/1 |
$42.7 |
GenPath raised $42.7M in a Series B financing; Flagship Ventures led the round and was joined by Highland Capital Partners and Oxford Biosciences, as well as private European investors and Series A investors |
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Metabasis |
San Diego |
10/28 |
$24.9 |
Investors in the company's third financing round included Maverick Capital, Wellcome Trust, ITOCHU Corp., Pan-Pacific Venture Capital and the three major existing investors |
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Miikana |
Toronto and Fremont, Calif. |
10/1 |
$4.25 |
The Series A financing was led by 5AM Ventures and Aravis Ventures, and included Novartis Venture Fund and Queensland Asset Management |
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Neuvolution A/S |
Copenhagen, Denmark |
10/9 |
$15 |
Neuvolution raised $15M in the first closing of its Series B financing; Scandinavian Life Science Venture led the deal, which included SEB Foretagsinvest, Novo A/S, Nordic Biotech K/S and the Danish Investment Fund |
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Phenomix Corp. |
San Diego |
10/14 |
$13.5 |
Phenomix received $13.5M in the second tranche of its first-round funding, which brought in $10M in March 2002; Alta Partners and Sofinnova Ventures led the round, which included Bay City Capital, CMEA Ventures, GBS Venture Partners and Versant Ventures |
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TiGenix NV |
Louvain, Belgium |
10/8 |
€12 (US$14) |
TiGenix raised €12M in its first funding round; ING Private Equity and Capricorn Venture Partners led the round, which also included Auriga Partners SA, Fagus NV and Gemma Frisius Fund |
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II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $4.5M | ||||
Company (Symbol)#* |
Partner (Country) |
Amt. (M) |
Triggering Event |
Details (Date) |
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Applied Molecular Evolution Inc. (AMEV) |
MedImmune Inc. (MEDI) |
ND |
Milestone payment |
Triggered by MedImmune's filing of an invest- igational new drug application for Numax in respiratory syncytial virus (10/2) |
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Applied Molecular Evolution Inc. (AMEV) |
Centocor Inc. (unit of Johnson & Johnson) |
ND |
Milestone payment |
Triggered by AME providing Centocor with optimized antibody candidates that met the specified criteria (10/21) |
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Celltech Group plc (UK; NYSE:CLL) |
Amgen Inc. (AMGN) |
ND |
Milestone payment |
Triggered by identification of a Celltech anti- body against sclerostin in area of osteoporosis for further study (10/28) |
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CV Therapeutics Inc. (CVTX) |
Fujisawa Healthcare Inc. |
$3 |
Milestone payment |
Triggered by start of Phase III study of CVT- 3146 as pharmacologic stress agent in cariac perfusion imaging studies (10/28) |
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DeCode Genetics Inc. (Iceland; DCGN) |
Roche Diagnostics (Switzerland) |
ND |
Milestone payment |
Triggered by identification of forms of a gene that confer increased risk of myocardial infarction (10/17) |
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Exelexis Inc. (EXEL) |
Dow AgroSciences LLC |
ND |
Milestone payment |
Triggered by identification of a target site relevant to a Dow herbicidal compound (10/7) |
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Genmab AS (Denmark; CSE:GEN) |
F. Hoffmann-La Roche Ltd. (Switzerland) |
ND |
Milestone payment |
The second milestone in their collaboration was triggered by reaching proof of concept with a human antibody developed by Genmab (10/27) |
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GPC Biotech AG (Germany; FSE:GPC) |
Altana AG (Germany) |
$1.5 |
Milestone payment |
GPC earned milestones in the areas of technology transfer and drug discovery in the alliance to build an Altana research center in Waltham, Mass. (10/29) |
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Ligand Pharmaceuticals Inc. (LGND) |
Wyeth |
ND |
Milestone payment |
Triggered by Wyeth's decision to advance NSP-989 into Phase II studies for contraception (10/13) |
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Tularik Inc. |
Amgen Inc. (AMGN) |
ND |
Milestone payments |
Triggered by Amgen's selection for optimization of two compounds against different cancer targets, each resulting in a payment (10/14) |
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Notes: | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
ND = Not disclosed. | ||||
CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; NYSE = New York Stock Exchange. |