Total: $1,214.13M

Company
(Symbol)#
(M)

Type Of
Financing

Number Of Shares, Units Or Warrants

Amount Raised (M)

Investors; Placement Agents; Details (Date)@


Angiotech
Pharmaceuticals
Inc.
(Canada;
ANPI)

Private placement of notes

N/A

$250

The 7.75% senior subordinated notes are due in 2014; separately, it entered a $425M credit facility consisting of a $350M term facility and a $75M revolving credit facility (3/16)

Avantogen
Ltd.
(Australia;
ASX:ACU)

Rights issue

54.3S

A$5.7 ($4.1)

BBY Ltd. is fully underwriting the rights issue, in which shareholders can purchase stock at A$0.105 per share; options in the deal equal to half the rights can be exercised at A$0.25 per share through 2007 (3/27)

BioForce
Nanosciences
Holdings Inc.
(OTC BB:BFNH)

Private placement of restricted stock

4S

$6

The restricted stock was sold at 1.50 per share; details were not disclosed (3/21)

BioMarin
Pharmaceuticals
Inc.
(BMRN)

Public offering of convertible notes

N/A

$172.5

The 2.5% notes due in 2013 are convertible into common stock at an initial price of $16.58 per share; totals include the purchase of $22.5M in notes per underwriter Merrill Lynch & Co.'s over-allotment option (3/24)

BioSyntech
Inc.
(Canada;
CDNX:BSY)

Private placement of stock and warrants

23.81S and 11.905W

C$10 ($8.6)

Units were sold at C$0.42 apiece; each three-year warrant is exercisable at C$0.65 per share; Desjardins Securities Inc. and Dundee Securities Corp. were placement agents; another C$5M closing was expected (3/31)

CardioVascular
BioTherapeutics
Inc.
(OTC BB:
CVBT)

Private placement of convertible notes and warrants

N/A and 0.7W

$20

The three-year, 7% notes are convertible at $12 per share, or after five months, at 94% of a five-day average; conversion is limited to $2M per month; the warrants are exercisable at $8.50 per share (3/22)

Cell Genesys
Inc.
(CEGE)

Committed equity facility

N/A

--

Deal under which Kingsbridge Capital Ltd. agreed to purchase up to $75M of Cell Genesys stock over three years, at prices discounted 6% to 10% to an eight-day average; Cell Genesys controls the timing and amounts of any drawdowns (3/15)

Chemokine
Therapeutics
Corp.
(Canada;
TSE:CTI)

Private placement of stock

6.47S

C$6.86 ($5.9)

The shares were placed at C$1.06 each; the agent received C$344,500 and two-year warrants to purchase 350,000 shares at C$1.25 each (3/22)

China Bio-
pharmaceuticals
Holdings Inc.
(China; OTC BB:
CHBP)

Private placement of stock and warrants

6.83S and 6.83W

$6.9

Shares were sold at $1.01 each; the four-year warrants are exercisable at $1.26 per share; the deal was underwritten by vFinance Inc. (3/14)

Columbia
Laboratories
Inc.
(CBRX)

Private placement of stock and warrants

7.428S and 1.857W

$30

The shares were sold at $4.04 each, and the five-year warrants are exercisable at $5.39 per share (3/13)

CombinatoRx
Inc.
(CRXX)

Private placement of stock

4.68S

$48

The shares were placed at $10.25 each; Cowen & Co. LLC was placement agent (3/23)

CytRx Corp.
(CYTR)

Private placement of stock and warrants

10.65S and 5.33W

$13.4

The stock was sold at $1.26 per share, and the warrants are exercisable at $1.54 per share; T.R. Winston & Co. was lead placement agent (3/2)

DiaGenic ASA
(Norway; OSE:
DIAG)

Private placement of
stock

3.5S

NOK33.25 ($5.1)

Shares were sold at NOK9.5 each; 500,000 additional shares were sold in the placement by existing investors; ABG Sundal Collier and DnB NOR Markets were placement agents (3/17)

Duska
Therapeutics
Inc.
(OTC BB:DSKT)

Private placement of stock

8S

$2

The stock is being sold at $0.25 per share (3/9)

Elite
Pharmaceuticals
Inc.
(AMEX:ELI)

Private placement of convertible stock and warrants

N/A and 2.22W

$10

The stock is convertible into about 4.44M shares at $2.25 per share; half of the five-year warrants are exercisable at $2.75 per share, and half at $3.25 per share; Indigo Securities LLC was placement agent (3/16)

Favrille Inc.
(FVRL)

Private placement of stock and warrants

8.6S and 3W

$45

The stock was sold at $5.26 per share; investors will pay another $0.125 for warrants, which are exercisable at $5.26 per share; the deal was led by MPM BioEquities Adviser LLC and included ederated Kaufmann Fund, T. Rowe Price Associates, Tang Capital Management, ProMed Management, Forward Ventures, Sanderling Ventures, Alloy Ventures and William Blair Capital Partners (3/7)

Genta Inc.
(GNTA)

Registered
direct offering

19S

$40.8

The shares were sold at $2.15 each; Cowen & Co. LLC was lead placement agent; Rodman & Renshaw LLC was co-agent (3/7)

GenVec Inc.
(GNVC)

Committed equity facility

N/A

--

Deal under which Kingsbridge Capital Ltd. will buy up to $30M of GenVec stock over three years, at a discount of 8% to 12% to an eight-day average; GenVec will determine the timing of any draw-downs (3/15)

Helix BioMedix
Inc.
(OTC BB:
HXBM)

Private placement of stock and warrants

2.598S and 0.259W

$2.6

The five-year warrants issued in the deal have an exercise price of $1 per share (3/13)

Idera
Pharmaceuticals
Inc.
(AMEX:IDP)

Private placement of stock and warrants

22.16S and 16.62W

$9.75

The shares were sold at about $0.44 each; the five- year warrants are exercisable at $0.65 per share; the financing was led by Baker Brothers Investments and included Tang Capital Partners LP and OrbiMed Advisors LLC; separately, Biotech Shares Ltd. committed to purchase another $9.75M in stock in three drawdowns in 2006 (3/27)

Keryx Bio-
pharmaceuticals
Inc.
(KERX)

Registered
direct offering

4.5S

$82.8

Two institutional investors purchased the shares at the March 23 closing price of $18.40 per share; BioMarin paid no agent fees in the deal (3/27)

MediGene
AG
(Germany;
FSE:MDG)

Private placement of stock

1.852S

€15.6 ($18.8)

The shares are being issued at €8.45 each, without subscription rights; the price represented a 5% discount to the five-day average (3/2)

Metabasis
Therapeutics
Inc.
(MBRX)

Registered direct offering

4.9S

$39.7

The shares were sold from a shelf registration at $8.10 per share; Cowen & Co. LLC was lead placement agent; Piper Jaffray & Co. was co-agent (3/27)

Metabolic
Pharmaceuticals
Ltd.
(Australia;
ASX:MBP)

Private placement of stock and warrants

30.2S and 8W

A$13 ($9.3)

The stock was sold at A$0.43 per share; warrants are exercisable at A$0.55 and A$0.90 per share; Capital Partners LLC was lead investor; BBY Ltd. and Jefferies Inc. managed the deal (3/21)

MorphoSys
AG
(Germany;
FSE:MOR)

Private
placement of
stock

0.384S

€17.1 ($20.8)

Institutional investors purchased the stock at €44.50 per share; WestLB AG was lead manager; DZ Bank AG was co-manager (3/29)

Nanogen
Inc.
(NGEN)

Private placement of stock

5.7S

$15

Fisher Scientific International Inc. purchased the stock at $2.65 per share in a deal coinciding with a collaboration between the companies (3/16)

Northwest
Biotherapeutics
Inc.
(OTC BB:
NWBT)

Private
placement of
stock and
warrants

39.5S and
19.7W

$5.5

The shares were sold at $0.14 each; the five-year
warrants are exercisable at $0.14 per share; C.E.
Unterberg, Towbin LLC was placement agent (3/31)

Novavax Inc.
(NVAX)

Registered
direct offering

5.205S

$38

Shares were sold from a shelf registration at $7.30
each; Rodman & Renshaw LLC was placement
agent (3/21)

Novelos
Therapeutics
Inc.
(OTC BB:
NVLT)

Private
placement of
stock and
warrants

11.15S and
8.37W

$15.1

The stock was sold at $1.35 per share, and the five-year warrants are exercisable at $2.50 per share; Oppenheimer & Co. and Rodman & Renshaw were placement agents (3/2)

RegeneRx Bio-pharmaceuticals
Inc.
(AMEX:RGN)

Registered
direct offering
of stock and
warrants

2.6S and
0.907W

$7.3

Shares were sold at $2.81 each; the five-year warrants are exercisable at $4.06 per share; investors included affiliates of Sigma-Tau Group; RBC Capital Markets Corp. was placement agent (3/7)

Seattle
Genetics Inc.
(SGEN)

Stock offering

7.3S

$37.5

The stock was sold from a shelf registration to the offering's joint book-running managers, Banc of America Securities LLC and CIBC World Markets Corp. (3/28)

Seattle
Genetics Inc.
(SGEN)

Private placement of stock

1.129S

$5.93

The shares were sold at $5.25 each to funds affiliated with Baker Brothers Investments (3/28)

Sequenom
Inc.
(SQNM)

Private placement of stock and warrants

60S and 33W

$33

The stock was sold at about $0.55 per share; the seven-year warrants are exercisable at $0.70 per share; investors were ComVest Investment Partners II LLC, Pequot Private Equity Fund IV LP, LB I Group Inc. and Siemens Venture Capital GmbH (3/28)

Speedel
Holding AG
(Switzerland;
SWX:SPPN)

Offering of treasury shares

0.5S

CHF79.7 ($61)

The company sold 500,000 treasury shares; the deal was coordinated by UBS Investment Bank and Merrill Lynch International (3/23)

Stressgen
Biotechnologies
Corp.
(Canada;
TSE:SSB)

Convertible loan

N/A

C$9.5 ($8)

An affiliate of Madison Group is providing the funds as part of a corporate reorganization at Stressgen (3/16)

Sunesis
Pharmaceuticals
Inc.
(SNSS)

Private placement of stock and warrants

7.25S and 2.17W

$45

The shares were sold at $6.21 each, and the warrants are exercisable at the same price; investors paid an additional $0.125 for each warrant; investors included Alta Partners, Deerfield Management, Baker Brothers Investments and Warburg Pincus LLC; Cowen & Co. LLC was placement agent (3/17)

Syntopix
Group plc
(UK; AIM:SYN)

Private placement of stock

2.26S

£4 ($7)

Synoptix shares began trading on the AIM following the placement of stock at 177 pence per share; KBC Peel Hunt Ltd. brokered the deal (3/23)

Targeted
Genetics
Corp.
(TGEN)

Registered direct offering

12.79S

$5

The shares were sold in a direct offering at $0.39 each (3/10)

The Immune
Response Corp.
(OTC BB:IMNR)

Private placement of convertible notes

N/A and 1,200W

$8

The 8% notes mature on Jan. 1, 2008, and are convertible into 400M shares at $0.02 per share; the 1.2B short-term warrants are exercisable at $0.02 per share (3/7)

Theratech-
nologies Inc.
(Canada; TSE:TH)

Private placement of stock

10.5S

C$20.5 ($17.7)

A syndicate of underwriters led by BMO Nesbitt Burns and including Canaccord Capital and Jennings Capital purchased the shares at C$1.95 each; they have an option to purchase another 1.575M shares (3/8)

Titan
Pharmaceuticals
Inc.
(AMEX:TTP)

Registered direct offering

3.077S

$10

The shares were sold at $3.25 each; Rodman & Renshaw LLC was placement agent (3/16)

Valentis Inc.
(VLTS)

Private placement of stock and warrants

2.1S and 1.1W

$5.25

Units were sold at $2.50 each; the five-year warrants are exercisable at $3 per share; investors included Biotechnology Value Fund LP; Canaccord Adams and Griffin Securities advised in the deal (3/22)

Viragen Inc.
(AMEX:VRA)

Private placement of convertible stock and warrants

N/A and 4.17W

$5.2

Viragen sold 52,150 units; each consists of one share of convertible stock and 80 warrants to purchase one share each; the 24% stock is convertible into shares at $1.25 each; the five-year warrants are exercisable at $1.25 per share; Dawson James Securities was placement agent (3/13)

Viral Genetics
Inc.
(OTC BB:
VRAL)

Private placement of debt and warrants

N/A and 6.4W

$2.9

The 10%, two-year notes are convertible at $0.45 per share; the five-year warrants are exercisable at $0.78 per share; investors can purchase another $2.1M in notes and 4.7M warrants; HPC Capital Management LLC was placement agent (3/29)

ViRexx
Medical Corp.
(Canada; TSE:VIR)

Private placement of stock and warrants

1.67S and 1.67W

C$2 ($1.7)

Units consisting of one share and one warrant are being sold at C$1.20 each; the two-year warrants are exercisable at C$1.75 per share (3/3)

XTL Bio-
pharmaceuticals
Ltd.
(XTLB)

Private placement of stock and warrants

46.67S and 23.33W

$28

Stock in the form of ADRs was sold at the equivalent of $0.60 per ordinary share; the five-year warrants are exercisable at $0.875 per share; JPMorgan Securities Inc. was lead placement agent; Brean Murray, Carret & Co. LLC, Oppenheimer & Co. Inc. and Punk, Ziegel & Co. were co-agents (3/20)


Notes:

This chart does not include real estate or manufacturing plant financings, or debt deals done to replace existing debt.

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

Currency conversions are based on exchange rates at the time of the deal.

N/A = Not applicable; ND = Not disclosed.

AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CDNX = Canadian Venture Exchange; FSE = Frankfurt Stock Exchange; OSE = Oslo Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; SSE = Stockholm Stock Exchange; SWX = Swiss Stock Exchange; TSE = Toronto Stock Exchange.