| I. COMPLETED MERGERS AND ACQUISITIONS | |||||
| Company Acquired* (Country; Symbol) | Acquired By Or Merged With* (Country; Symbol) | Date Announced | Date Completed | Value (M)@ | Terms/Details |
| AC Biotech GmbH* (Germany) | Direvo Biotech AG* (Germany) | 11/6 | 11/6 | ND | Direvo acquired AC Biotech in an all-cash transaction |
| Align Pharmaceuticals Inc.* | Cyclacel Pharmaceuticals LLC (CYCC) | 10/8 | 10/8 | $3.8 | Cyclacel acquired Align for $3.8M in cash and an undisclosed amount of stock |
| AmCyte Inc.* | ReNeuron Group plc (UK; LSE:RENE) | 7/27 | 7/27 | $4 | ReNeuron plans to acquire all business assets of AmCyte for $4M in stock, a total of 9.3M shares |
| Atria Genetics Inc.* | Celera Group (NYSE:CRA) | 9/20 | 10/24 | $33 | Celera acquired Atria for about $33M in cash |
| Aviation Upgrade Technologies Inc. (OTC BB:AVUG) | OncoVista Inc.* | 8/30 | 11/20 | ND | OncoVista acquired a controlling interest in the public shell Aviation Upgrade |
| Berkeley HeartLab* | Celera Group (NYSE:CRA) | 9/4 | 10/15 | $195 | Celera bought Berkeley HeartLab for $195M in cash |
| BioCatalytics Inc.* | Codexis Inc.* | 7/19 | 7/19 | ND | Codexis acquired BioCatalytics for an undisclosed amount |
| Biocon Ltd.'s* enzyme business (India) | Novozymes A/S (Denmark; CSE:NZYM) | 7/18 | 7/18 | $115 | Novozymes bought Biocon's enzyme business for $115M, including $97M up front, $5M when business targets have been met and $13M for committed service fees and lease payments over 10 years |
| Bioenvision Inc. (BIVN) | Genzyme Corp. (GENZ) | 5/29 | 10/22 | $345 | Genzyme acquired Bioenvision for $345M in cash, or $5.60 per share |
| BioFX Laboratories Inc.* | SurModics Inc. (SRDX) | 8/14 | 8/14 | $22.7 | SurModics acquired BioFX for $11.3M in cash at closing and up to an additional $11.4M in cash upon the successful achievement of specified revenue targets |
| Biolipox* (Sweden) | Orexo AB (Sweden; SSE:ORX) | 10/15 | 11/26 | SEK856 ($133) | Orexo acquired Biolipox for $133M in Orexo stock, a maximum of 8.56M shares |
| Brookwood Pharmaceuticals Inc.* | SurModics Inc. (SRDX) | 8/1 | 8/1 | $62 | SurModics acquired Brookwood from Southern Research Institute for $40M in cash at closing and up to an additional $22M in cash upon the successful achievement of specified milestones |
| Catalyst Oncology Inc.* | DiagnoCure Inc. (Canada; TSX:CUR) | 8/16 | 8/16 | $3 | DiagnoCure acquired Catalyst Oncology for an initial payment of $3M in cash and stock; Catalyst Oncology also is eligible to receive milestone payments |
| Autogen Research branch of Pharmaceuticals Ltd. (Australia; CXSP) | Adipogen Pharmaceuticals Pty. Ltd.* (Australia) | 10/29 | 11/29 | ND | ChemGenex has merged its Autogen Research branch with Adipogen; it is being ChemGenex renamed Verva Pharmaceuticals |
| Epidauros Biotechnologie AG* (Germany) | Clinical Data Inc. (CLDA) | 8/23 | 8/23 | $11.84 | Clinical Data acquired Epidauros in a cash deal valued at $11.84M |
| Esprit Pharma Inc.* | Allergan Inc. (NYSE:AGN) | 9/19 | 10/17 | $370 | Allergan acquired Esprit for about $370M in cash |
| EvoGenix Ltd. (Australia; ASX:EGX) | Peptech Ltd. (Australia; ASX:PTD) | 5/7 | 8/20 | A$156 ($128.6) | Peptech offered A$1.12 per share for Evo-Genix; it consists of A15 cents plus about half a share of Peptech stock for each share of EvoGenix; shareholders approved the merger |
| FermaVir Pharmaceuticals Inc. (OTC BB:FMVR) | Inhibitex Inc. (INHX) | 4/10 | 9/20 | $16.9 | Inhibitex acquired FermaVir for 11.44M shares, or 27% of the company, valuing the deal at about $16.9M |
| ForSight Newco II Inc.* | QLT Inc. (QLTI) | 10/9 | 10/19 | $42 | QLT purchased ForSight for $42M; it also will pay $5M upon the start of a Phase III trial, $20M on first commercialization of each of the first two products using For-Sight's technology, and $15M on first com-mercialization of each subsequent product |
| Geneservice Ltd.* (UK) | Medical Solutions plc (UK; LSE:MLS) | 6/7 | 7/4*@ | £3.86($5.2) | Medical Solutions acquired GeneService |
| Hamilton Pharmaceuticals Inc.* | Neuren Pharmaceuticals Ltd. (Australia; ASX:NEU) | 7/31 | 7/31 | $4.4 | Neuren is acquiring Hamilton for $4.4M in shares; Hamilton's shareholders unanimously approved the deal |
| Haptogen Ltd.* (UK) | Wyeth Pharmaceuticals | 10/5 | 10/5 | ND | Wyeth acquired Haptogen for an undisclosed amount |
| Healthcare Acquisition Corp. (AMEX:HAQ) | PharmAthene Inc.* | 1/22 | 8/3 | $163.3 | PharmAthene received about 12.5M HAQ shares, valued at about $93.3M, as well as about $70M in cash, and up to $10M more if it enters a contract with the U.S. government by the end of 2007 |
| Hesperion AG (unit of Cerep SA; France; PARIS:CER) | Averion International Corp. (OTC BB: AVRO) | 11/14** | 11/14** | €25 ($36.8) | Cerep completed the sale of Hesperion to Averion for $36.8M |
| Humagen Fertility Diagnostics Inc.* | MediCult A/S (Denmark; OSLO:MEC) | 4/26 | 6/1 | DKK126 ($23) | MediCult paid $23M in cash for Humagen |
| Iconix Biosciences Inc.* | Entelos Inc. (LSE:ENTL) | 8/30 | 8/31 | $8.3 | Entelos purchased Iconix for 12.8M shares valued at $8.3M |
| Inflazyme Pharmaceuticals Ltd. (Canada; TSX:IZP) | Biolipox AB* (Sweden) | 9/24 | 11/16 | $11 | Biolipox acquired most of Inflazyme's assets for $4M in cash and up to $7M in potential milestones plus royalty payments |
| Intronn Inc.* | Virxsys Corp.* | 9/21 | 9/21 | ND | Virxsys acquired Intronn for an undisclosed amount |
| Inyx Inc. (OTC BB:IYXI) | CEO Jack Kachkar and an outside investor | 3/26 | 7/12 | $115 | Kachkar and the investor offered $3.01 per share in a deal that took the company private; Inyx has 53.6M outstanding shares; the value is the amount paid after accounting for warrants and options |
| IsoTis Inc. (ISOT) | Integra Life-Sciences HoldingsCorp. (IART) | 8/7 | 10/30 | $51 | Integra paid about $51M, or $7.25 per share, to make IsoTis its wholly owned subsidiary |
| JDS Pharmaceuticals LLC* | Noven Pharmaceuticals Inc. (NOVN) | 7/10 | 8/15 | $125 | Noven acquired JDS for $125M in cash plus the assumption of $10M in liabilities |
| LymphoSign Inc.* | Aegera Therapeutics Inc.* | 8/8 | 8/8 | ND | Aegera acquired LymphoSign for an un-isclosed amount |
| Mytogen Inc.* | Advanced Cell Technology Inc. (OTC BB:ACTC) | 5/31 | 9/24 | $5 | Advanced Cell Technology acquired Mytogen for about 8.2M restricted shares of common stock, valued at $5M and assumed certain Mytogen liabilities |
| Biologics unit of Nabi Bio-pharmaceuticals (NABI) | Biotest AG (Germany; FSE:BIO) | 9/11 | 11/9 | $185 | Biotest bought Nabi's biologics unit for $185M in cash |
| NovaCardia Inc.* | Merck & Co. Inc. | 6/25 | 9/11 | $366.4 | Merck acquired NovaCardia for $366.4M in the form of 7.3M shares of Merck stock |
| Ophthalmic Technologies Inc.* | OPKO Health Inc. (AMEX:OPK) | 11/29 | 11/29 | ND | OPKO Health completed an acquisition of ocular diagnostic imaging company Ophthalmic Technologies |
| Organon BioSciences NV (unit of Akzo Nobel NV; the Netherlands; Amsterdam: AKZA) | Schering-Plough Corp. | 3/12 | 11/19 | €11B ($16.1B) | Schering's board approved the acquisition, which closed in November shortly after Schering received antitrust clearance |
| Pacific Pharma Technologies Inc.* | Upstream Biosciences Inc. (OTC BB:UPBS) | 3/19 | 8/27 | $0.244 | Upstream purchased Pacific Pharma for 520,000 shares worth about $244,000 |
| Revitus* | BioVascular Inc.* | 9/10 | 9/10 | ND | BioVascular merged with Revitus |
| Echo Therapeutics Inc.* | Sontra Medical Corp. (OTC BB: SONT) | 9/17 | 9/17 | $16.13 | Sontra issued 6.25M shares in the deal, giving Echo about 35% of the combined company |
| Nile Therapeutics Inc.* | SMI Inc. (OTC BB:SPDU) | 9/18 | 9/18 | ND | Nile went public through a reverse merger with a public shell; SMI trades on the Over-the-Counter Bulletin Board |
| Surface Therapeutics Ltd.* (UK) | Serentis* (UK) | 10/2 | 10/2 | ND | Serentis completed an acquisition of Surface Therapeutics |
| Symphony GenIsis* | Isis Pharmaceuticals Inc. (ISIS) | 9/28 | 9/28 | $120 | Isis purchased all of the equity of Symphony GenIsis at the prenegotiated price of $120M; Symphony was established in 2006 by Isis and Symphony Capital Partners as a financing vehicle that held three compounds in exchange for $75M in funding |
| Systems Medicines Inc.* | Cell Therapeutics Inc. (CTIC) | 7/25 | 8/1 | $35 | Cell Therapeutics paid $35M for Systems Medicines, including $20M in stock up front, $5M in cash or stock if the FDA agrees to a special protocol assessment for a pivotal trial of Brostallicin, and $10M in cash or stock if the product is approved |
| Tanox Inc. (TNOX) | Genentech Inc. (NYSE:DNA) | 11/9/06 | 8/2/07 | $919 | Genentech offered $20 per share in cash for Tanox, with which it developed the approved asthma product Xolair; Tanox shareholders approved the merger |
| TLT Medical Ltd.* (Switzerland) | Arpida Ltd. (Switzerland; SWX:ARPN) | 7/18 | 8/13 | CHF57($47.5) | Arpida acquired TLT Medical with an up-front payment and milestone payments that could total $47.5M |
| Vitaflo Scandinavia AB* (Sweden) | Navamedic ASA (Norway; OSLO: NAVA) | 8/30 | 8/30 | SEK90($13.1) | Navamedic acquired Vitaflo for SEK54M in cash and the remainder in shares |
| Stem Cell Technologies Inc. (subsidiary of UTEK Corp.; LSE:UTK) | NeoStem Inc. (AMEX:NBS) | 11/14 | 11/14 | ND | NeoStem acquired Stem Cell Technologies for an undisclosed amount of stock |
|
ViaCell Inc. (VIAC) |
PerkinElmer Inc. | 10/2 | 11/15 | $300 | PerkinElmer acquired ViaCell for $7.25 per share, or about $300M cash |
| Znomics Inc.* | Pacific Syndicated Resources Inc. (OTC BB:PSRI) | 11/28 | 11/28 | ND | Znomics completed a reverse merger with Pacific Syndicated Resources Inc., giving Znomics a public listing |
| II. PENDING MERGERS AND ACQUISITIONS | |||||
| Company To Be Acquired* (Country; Symbol) | Acquiring Company* (Country; Symbol) | Date Announced | Expected Completion | Value (M)@ | Terms/Details |
| Adnexus Therapeutics Inc.* | Bristol-Myers Squibb Co. | 9/24 | ND | $430 | Bristol-Myers is acquiring Adnexus for $430M in an all-cash deal; BMS will pay an additional $75M, in three increments, when certain milestones are met |
| Agensys Inc.* | Astellas Pharma Inc.(Japan; FSE:YPH) | 11/27 | ND | $387 | Astellas is buying Agensys for $387M up front, with potentially $150M more in milestone payments |
| Aspreva Pharmaceuticals Corp. (ASPV) | Galenica Group (Switzerland; SWX:GALN) | 10/18 | 1Q:08 | $915 | Galenica will acquire Aspreva for $26 per share |
| Avant Immuno-therapeutics Inc. (AVAN) | Celldex Therapeutics Inc. (BE:C4W) | 10/22 | 1Q:08 | $115 | Avant and Celldex plan to merge in a deal worth $115M |
| Axcan Pharma Inc. (AXCA) | TPG Capital | 11/29 | ND | $1.3B | TPG Capital has agreed to acquire Axcan for $1.3B in cash |
| Bradley Pharmaceuticals Inc. (NYSE:BDY) | Nycomed (Switzerland) | 10/30 | 1Q:08 | $346 | Nycomed plans to buy Bradley for $20 per share, or $346M total |
| Coley Pharmaceutical Group Inc. (COLY) | Pfizer Inc. | 11/16 | 1Q:08 | $164 | Pfizer is paying $8 per share for Coley's outstanding common stock, making the acquisition worth $164M |
| Chemical development business of Evotec AG (Germany; FSE:EVT) | Aptuit Inc. | 9/11 | 4Q:07 | £31.5 ($64) | Aptuit is buying the business for $64M in cash |
| Lehigh Valley Technologies Inc.* | Vyteris Holdings (OTC BB:VYHN) | 3/1 | ND | ND | Vyteris entered into a letter of intent to buy Lehigh Valley Technologies |
| Matritech Inc. (AMEX:MZT) | Inverness Medical Innovations Inc. (AMEX:IMA) | 8/28 | ND | $36 | Inverness is acquiring all of Matritech's assets for $36M in stock |
| Orphan Europe* (France) | Recordati SpA (Italy; MILAN:REC) | 9/28 | 4Q:07 | €135 ($192) | Recordati is acquiring Orphan Europe for $192M |
| Pharmion Corp. (PHRM) | Celgene Corp. (CELG) | 11/19 | 2Q:08 | $2.9B | Celgene is acquiring Pharmion for $2.9B in cash and stock |
| Point Therapeutics (POTP) | Dara Biosciences Inc.* | 10/10 | 1Q:08 | ND | Dara plans to gain a public listing through a reverse merger with Point |
| Reliant Pharmaceuticals Inc.* | GlaxoSmithKline plc (UK) | 11/21 | ND | $1.65B | GSK plans to acquire Reliant for $1.65B |
| Renovis Inc. (RNVS) | Evotec AG (Germany; FSE:EVT) | 9/19 | 1Q:08 | $152 | Evotec is acquiring Renovis for 34.57M shares |
| Somanta Pharmaceuticals Inc. (OTC BB:SMPM) | Access Pharmaceuticals Inc. (OTC BB:ACCP) | 2/22 | ND | $12.2 | Access plans to acquire Somanta for $12.2M in stock, issuing about 1.5M shares |
| VaxGen Inc. (PK:VXGN) | Raven Biotechnologies Inc.* | 11/13/07 | 1H:08 | $35.5 | Raven will receive about 32M shares of VaxGen valued at $35.5M on Nov. 12, and will then own 49.1% of the combined company |
| Ventana Medical Systems Inc. (VMSI) | F. Hoffmann-La Roche Ltd. (Switzerland) | 6/26 | ND | $3B | Roche offered to acquire Ventana for $75 per share, or about $3B in cash; in July, Ventana's board rejected the offer calling it inadequate; Roche said it will pursue a transaction unilaterally |
| Vital Scientific BV (the Netherlands; unit of Clinical Data Inc.; CLDA) | Elitech Group* (France) | 10/26 | ND | $19.5 | Elitech is paying $4.5M right away and $15M when the deal finishes |
| Notes: | |||||
| # This chart is intended to include not only mergers and acquisitions of entire businesses, but also of divisions or subsidiaries of those businesses, where appropriate. In general, it does not include acquisitions of single products or of manufacturing facilities. For those deals that are pending, and for which the acquiring company is issuing stock, the value of the transaction was calculated based on the closing price prior to the first announcement. For stock-based deals that have been completed, the final value was calculated based on the closing price before the merger's completion was announced. * Private companies are indicated with an asterisk. ** Denotes the date the item ran in BioWorld International.@ Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending deals, on the date it was announced. *@ Acquisition occurred before the time frame of this chart but was not listed as completed in the previous chart. ND = Not disclosedUnless otherwise indicated, shares are traded on the Nasdaq exchange. AMEX = American Stock Exchange; ASX = Australian Stock Exchange; BE = Berlin Stock Exchange; CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SSE = Stockholm Stock Exchange; SWX = Swiss Stock Exchange; TSX = Toronto Stock Exchange. | |||||
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