I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $109.9M

Company

Location

Date@

Amt. (M)*

Details

ICAgen Inc. (Round ND)

Research Triangle Park, NC

11/30

$19

ICAgen completed private placements to new and existing investors; lead investors were Alta Partners and Chase Capital Partners; existing investors included Venrock Associates, Gutrafin and Hoegh Invest AS; new investors included New Medical Technologies and Fugijin

Inspire Pharmaceuticals (Round ND)

Durham, NC

11/2

$12.4

Inspire completed a private placement of preferred stock to new and existing investors; Pacific Growth Equities acted as placement agent; lead investors were New Medical Technologies and InterWest Partners

IntraBiotics Pharmaceuticals Inc. (Mezzanine)

Mountain View, Calif.

11/17

$25

IntraBiotics completed a private placement of Series H preferred shares; Investor AB, of Sweden, led the round; existing investors included Vulcan Northwest Ventures and New England Partners; participating investors also received warrants to purchase additional Series H preferred shares

Novirio Pharmaceuticals Ltd. (Round ND)

Cambridge, Mass.

11/5

$12.5

Novirio completed a private placement of preferred stock, led by TVM Techno Venture Management; other investors included Nomura International plc, BB BioVentures and other funds managed by MPM, the company's initial investor and major shareholder

Salus Therapeutics Inc. (Round ND)

Salt Lake City

11/17

$1

Salus received a $1M investment from Utah Ventures II LP; further details ND

Versicor Inc. (Round ND)

Fremont, Calif.

11/3

$40

Versicor completed a round of private equity financing, led by Patricof & Co. Ventures Inc.; new investors included Apax Partners Europe, Apax Partners France and Schroeder Ventures; existing investors included HealthCare Ventures, New Enterprise Associates, Abingworth Ltd., Hambrecht & Quist Capital Management, Sepracor Inc., S.R. One Ltd. and Rho Management

Company (Symbol)#

Partner (Symbol; Country)

Amt. (M)

Triggering Event

Details (Date)

CombiChem Inc. (CCHM)

Teijin Ltd. (Japan)

ND

Research milestone

CombiChem achieved a research milestone in the evolution and optimization of a series of novel receptor antagonists with in vivo efficacy in animal models of inflammatory disease; financial details ND (11/5)

Icos Corp. (ICOS)

Eli Lilly & Co. (NYSE:LLY)

$15

Initiation of Phase III trial

Icos received a $15M milestone payment from Eli Lilly for the initiation of a Phase III trial of IC351, an inhibitor of PDE5, for the treatment of erectile dysfunction (11/3)

ImClone Systems Inc. (IMCL)

American Home Products Corp. (NYSE:AHP)

$0.5

Filing of investigational new drug application

ImClone received a $0.5M milestone payment from American Home Products upon filing an IND for a vaccine against N. gonorrhea (11/2)

Medarex Inc. (MEDX)

Novartis AG (Switzerland)

$1

Terms of license agreement

Medarex received a $1M technology access fee under its global licensing arrangement with Novartis involving Medarex' HuMAb-Mouse technology; the fee was paid in the form of an equity purchase (11/11)

Vical Inc. (VICL)

Merck & Co. Inc. (NYSE:MRK)

$2

Terms of license agreement

Vical received a $2M payment from Merck in accordance with the companies' 1997 license agreement; the payment extends Merck's exclusive world-wide rights to use Vical's naked DNA non-viral gene delivery technology to develop and market therapeutic vaccines against the HIV and hepatitis B viruses (11/3)

Notes:

@ The dates listed indicate the issue dates of press releases, and are not necessarily the dates on which stated events took place.

* Conversion rate of £1 3D US$1.62; conversion rate of Euro1 3D US$0.97; conversion rate of C$1 3D US$0.67; conversion rate of DM1 3D US$0.54; ND 3D Information not disclosed.

# Unless otherwise indicated, the stock symbols listed are on the Nasdaq Market

NYSE 3D New York Stock Exchange