TOTAL: $64.88M

Year to Date: $108.68M

Company
(Symbol)#*

Partner
(Country)

Amt.
(M)

Triggering
Event

Details (Date)


Arena
Pharmaceuticals
Inc.
(ARNA)

Ortho-McNeil Inc.

$5

Milestone payment

Triggered by Ortho-McNeil's initiation of a Phase I trial of the Type II diabetes candidate APD668 (2/7)

Avant Immuno-
therapeutics
Inc.
(AVAN)

GlaxoSmithKline plc (UK)

$4

Milestone payment

Triggered by European approval of Rotarix for the prevention of gastroenteritis caused by rotavirus; half the payment will go to Avant partners (2/27)

BioDelivery
Sciences
International
Inc.
(BDSI)

Clinical Development Capital LLC

$2

Milestone payment

Triggered by BDSI's achievement of certain milestones in development of its BEMA Fentanyl formulation (2/16)

Emisphere
Technologies
Inc.
(EMIS)

F. Hoffmann- La Roche Ltd. (Switzerland)

ND

Milestone payment

Triggered by Roche's initiation of a clinical study using Emisphere's eligen delivery technology in a formulation for a second product (2/15)

Genmab A/S
(Denmark;
CSE:GEN)

Serono SA (Switzerland; NYSE:SRA)

$1

Milestone payment

Triggered by Genmab's delivery of a HuMax- TAC cell line to Serono, under their May 2005 agreement (2/27)

Helix
BioPharma
Corp.
(Canada;
TSE:HBP)

Lumera Corp. (LMRA)

$0.125

Milestone payment

Triggered by progress Lumera made in developing microarrays using technology from Helix (2/10)

Isis
Pharmaceuticals
Inc.
(ISIS)

Eli Lilly and Co.

$0.75

Milestone payment

Triggered by Lilly's initiation of a Phase I trial of the antisense cancer drug LY2275796 (2/1)

Ligand
Pharmaceuticals
Inc.
(PK:LGND)

GlaxoSmithKline plc (UK)

$2

Milestone payment

Triggered by GSK's start of Phase III trials of eltrombopag (SB497115), an oral platelet growth factor, in idiopathic thrombocytopenic purpura (2/14)

MediGene AG
(Germany; FSE:
MDG)

Astellas Pharma Inc. (Japan)

ND

Milestone payment

Triggered by the launch in France of a drug for treating advanced prostate cancer (2/17)

Neose
Technologies
Inc.
(NTEC)

Novo Nordisk A/S (Denmark)

ND

Milestone payment

Triggered by progress in deal to use Neose's GlycoPEGylation technology to develop a next-generation version of a protein marketed by Novo (2/9)

New River
Pharmaceuticals
Inc.
(NRPH)

Shire plc (UK)

$50

Milestone payment

The $50M payment followed the FDA's acceptance for review of New River's NDA for NRP104, a candidate for treating attention deficit hyperactivity disorder (2/7)

Pharmacopeia
Drug Discovery
Inc.
(PCOP)

Celgene Corp. (CELG)

ND

Milestone payment

Triggered by delivery of compounds to Celgene under their drug discovery collaboration (2/8)

7TM Pharma
A/S*
(Denmark)

Procter & Gamble Co.

ND

Milestone payment

Triggered by progress in the preclinical development of drugs for cardiovascular diseases under their January 2005 deal (2/22)


Notes:

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

* Private company.

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

ND = Not disclosed.

CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; NYSE = New York Stock Exchange; PK = Pink Sheets; TSE = Toronto Stock Exchange.

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