I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $588.75M | ||||
Company |
Location |
Date |
Amt. (M) |
Details |
Aerie |
Research Triangle Park, N.C. |
10/12/05 |
$21 |
The Series A financing round was led by Alta Partners and Texas Pacific Group Ventures |
Alinea |
Cambridge, Mass. |
10/20/05 |
$45 |
The Series A financing was led by MPM Capital and included SV Life Sciences, Flagship Ventures and Burrill & Co., which helped structure the deal |
AM-Pharma |
Bunnik, the Netherlands |
10/31/05 |
€9 (US$10.8) |
Inventages Venture Capital Investments Inc. invested €6 and ABN-AMRO Life Sciences Capital invested €3M in the Series B financing round |
Cadence |
San Diego |
10/11/05 |
$25 |
The Series A financing round was led by Domain Associates and included ProQuest Investments, BB Biotech Ventures, CDIB BioScience Venture Management, Windamere Venture Partners and private investors |
Cardium |
San Diego |
10/20/05 |
$28.5 |
The money was raised concurrent with a reverse merger with Aries Ventures Inc. (OTC BB: ARVT) and the acquisition of cardiovascular product candidates from Schering AG |
Cerimon |
South San Francisco |
10/26/05 |
$70 |
The Series A financing round was led by MPM Capital, together with Nomura Phase4 Ventures and OrbiMed Advisors |
CODA |
Irvine, Calif. |
10/5/05 |
$0.8 |
Tech Coast Angels provided the investment in the Series A financing round |
Cyclacel plc |
Dundee, UK |
10/10/05 |
£5 (US$8.9) |
Scottish Enterprise invested £5 million in the form of a convertible loan; it is making £2.5 million more available if matched by the private sector |
Epistem Ltd. |
Manchester, UK |
10/24/05 |
£1.72 (US$3) |
The company raised £1.72 million through a private placing by Zeus Capital |
ForteBio Inc. |
Menlo Park, Calif. |
10/26/05 |
$17.3 |
The Series B financing round was led by The Vertical Group; existing investors Agilent Ventures, Alloy Ventures, Latterell Venture Partners and Versant Ventures also participated |
GlycoFi Inc. |
Lebanon, N.H. |
10/10/05 |
$11 |
The financing was an extension of a $10M Series C financing that closed in December 2003; participating were existing investors Polaris Venture Partners, SV Life Sciences, Boston Millenia Partners, Fletcher Spaght Ventures, Village Ventures and Borealis Ventures and new investors International Biotechnology Trust, Peninsula Equity Partners and Eli Lilly and Co. |
Kereos Inc. |
St. Louis |
10/14/05 |
$0.5 |
Advantage Capital Partners added $0.5M to the $19.5M Series B round completed in September |
Kinexis Inc. |
Carlsbad, Calif. |
10/14/05 |
$0.9 |
InvestBio Ventures AmpliMed GP made the investment in Kinexis |
Light Sciences |
Seattle |
10/12/05 |
$35 |
The company was spun out of Light Sciences Corp. in connection with the Series A financing; Essex Woodlands Health Ventures led the round, which included Adams Street Partners, Johnson and Johnson Development Corp., China Development Industrial Bank and Larkspur Capital Corp., which acted as adviser in the deal |
Marinus |
Branford, Conn. |
10/25/05 |
$29.4 |
The Series A financing round was led by Domain Associates, Sofinnova Ventures and Canaan Partners; Foundation Medical Partners and pri- vate investors also participated |
Molecular |
Phoenix |
10/28/05 |
$7.5 |
Investing the Series B financing round were AmeriPath, Affymetrix Inc. and Gen-Probe Inc. |
Opal |
Melbourne, Australia |
10/25/05 |
$6 |
The Series A financing was led by GBS Venture Partners, and included Alloy Ventures, Alta Partners and Uniseed |
Predicant |
South San Francisco |
10/11/05 |
$7.5 |
Hercules Technology Growth Capital Inc. provided $7.5 million of debt financing to Predicant |
ProNAi |
Kalamazoo, Mich. |
10/19/05 |
$4.25 |
ProNAi raised $2.5M in a Series A financing that included Biosciences Research Commercialization Center at Western Michigan University, Apjohn Ventures and the Grand Angles; it also raised $1.75M from a convertible note from the state of Michigan's Technology Tri-Corridor |
Raven |
South San Francisco |
10/12/05 |
$48.3 |
The Series D round was led by new investor Vulcan Capital and included new investors Biogen Idec New Ventures, CIDC Consultants Inc. and Mitsubishi UFJ Capital Co. Ltd. and existing investors Bear Stearns Health Innoventures LP, Pequot Ventures, Singapore's BioMedical Sciences Investment Fund Pte. Ltd., Integra Ventures, U.S. Venture Partners, CMEA Ventures, Hambrecht & Quist Capital Management LLC, Milepost Ventures and Cogene Ventures |
Serenex Inc. |
Durham, N.C. |
10/6/05 |
$30 |
The Series C financing round was led by Ritchie Capital and included existing investors Intersouth Partners, Lilly Ventures, Mediphase Venture Partners, Takeda Research Investment and Seaflower Ventures |
Stokes Bio Ltd. |
Cork, Ireland |
10/12/05 |
€1 (US$1.2) |
The first-round funding was provided by Kernel Capital Partners |
Surface Logix Inc. |
Boston |
10/28/05 |
$32 |
Surface Logix closed on $32M of a planned $42M Series D round; the other $10M is contingent on reaching milestones; participating were existing investors Venrock Associates, Arch Venture Partners, CW Group, HBM Partners, TIAA-CREF, Healthcare Focus Fund and Intel Capital and new investor Unilever Technology Ventures |
Tessera Inc. |
Seattle |
10/3/05 |
$8.5 |
The company completed a Series B financing round |
The Vaccine |
New York |
10/21/05 |
$14 |
InvestBio Ventures raised $14M of a planned $20M investment in the company; InvestPrivate Inc. was placement agent in the deal |
Tigris |
New York |
9/22/05@ |
$11.6 |
The company completed a Series A financing round, which included the conversion of about $1.6M of previously issued debt |
Topigen |
Montreal |
10/6/05 |
C$6(US$5.1) |
The C$6M second closing brought the Series B total to C$28.6; Caisse de depot et placement du Quebec invested in the second closing |
TransOral |
Corte Madera, Calif. |
10/28/05 |
$23 |
The Series C round was led by New Leaf Venture Partners and included InterWest Partners, Montreux Equity Partners, Peninsula Equity Partners, Hamilton BioVentures and Vivo Ventures |
Trigen |
London |
10/11/05 |
€26.5 (US$31.7) |
The second-round financing was co-led by Wellington Partners, HealthCap and 3i and included SR One, Quintiles PharmaBio Development, Quest for Growth, BIT, Merifin and others |
VirXsys Corp. |
Gaithersburg, Md. |
10/11/05 |
$31 |
The company completed the final closing of its Series F financing round |
Xencor Inc. |
Monrovia, Calif. |
10/18/05 |
$20 |
The Series D financing round was led by Zen Investments |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $37.65M | ||||
Company |
Partner |
Amt. |
Triggering |
Details (Date) |
Abmaxis Inc.* |
Merck & Co. Inc. |
ND |
Milestone payment |
Triggered by Abmaxis' optimization of an undisclosed Merck human monoclonal antibody (10/18) |
Acadia |
Allergan Inc. |
ND |
Milestone payment |
Triggered by the start of an initial exploratory Phase II trial in their neuropathic pain program (10/3) |
Acusphere |
Nycomed |
$0.15 |
Milestone |
The payment is the first of what could be $58M in milestone-based license fees for progress in development of AI-700, an ultrasound agent (10/24) |
CepTor Corp. |
JCR Pharmaceuticals Co. Ltd. (Japan) |
$1.5 |
Milestone payment |
Triggered by the filing of an investigational new drug application for Myodur (C-101) in muscular dystrophy; $1M of the payment was in equity and $500,000 cash (10/20) |
Codexis |
Pfizer Inc. |
ND |
Milestone payment |
Triggered by the second technical milestone in deal to generate biocatalysts for the manufacture of Pfizer's products (10/4) |
Discovery |
Allergan Inc. |
ND |
Milestone payments |
Triggered by identification of lead compounds from their multitarget drug discovery collaboration; the therapeutic focus was not disclosed (10/31) |
Flamel |
GlaxoSmithKline plc (UK) |
$2 |
Milestone payment |
Triggered by successful Phase III trial results on a controlled-release formulation of an already- arketed GSK drug using Flamel's Micropump technology (10/26) |
454 Life |
Roche Diagnostics (Switzerland) |
$7.5 |
Milestone payment |
Triggered by the commercial launch by Roche Applied Science of the Genome Sequencer 20 (majority owned System and reagents from 454 (10/7) |
Novexel* |
Sanofi-Aventis Group (France) |
ND |
Milestone payment |
Triggered by the start of a Phase I trial of NXL 103, an oral antibiotic for which Sanofi holds a development option (10/3) |
Orexo AB* |
Endo Pharmaceuticals Inc. |
$6.5 |
Milestone payment |
Triggered by successful completion of a dose- finding trial of Rapinyl (OX 20) for managing breakthrough cancer pain (10/3) |
Pozen Inc. |
GlaxoSmithKline plc (UK) |
$20 |
Milestone payment |
The milestone was triggered by the FDA's acceptance for review of the new drug appli- cation for the migraine product Trexima (10/11) |
Notes: | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
* Private company. | ||||
@ Item occurred in September but was not included in previous chart. | ||||
Currency conversions are based on exchange rates at the time of the deal. | ||||
ND = Not disclosed. | ||||
OTC BB = Over-the-Counter Bulletin Board. | ||||
