I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $314.9M | ||||
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Company |
Location |
Date |
Amt. (M) |
Details |
|
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Acologix Inc. |
Hayward, Calif. |
12/20/05 |
$25.3 |
Participating in the Series C financing were existing investors Tokio Marine & Nichido Fire Insurance Co. Ltd., JAIC America and Nomura Research and Advisory Co. Ltd., and new investors Nomura Securities Co. Ltd. and UOB JAIC Venture Bio Investments Ltd. |
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AngioChem Inc. |
Laval, Quebec |
12/12/05 |
C$6 |
The financing was led by BDC Venture Capital and VIMAC Milestone Medica Fund |
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BioAxone Therapeutic Inc. |
Montreal |
12/19/05 |
$5.1 |
The $5.1M tranche completed a second-round funding of $12.15M; investors were T2C2/Bio2000, Solidarity Fund QFL, Desjardins Venture Capital and Lothian Partners 27 SARL; the initial tranche was completed in July 2002 |
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Celladon Corp. |
La Jolla, Calif. |
12/7/05 |
$30 |
The Series B financing was led by new investors Kleiner Perkins Caufield & Byers and Domain Associates; existing investors Enterprise Partners Venture Capital and Venrock Associates also participated |
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Cellartis AB |
Gothenburg, Sweden |
12/13/05 |
€8 |
New investor Bio Fund Management Ltd. led the financing round, which included existing investors InnovationsKapital, Catella Healthcare Investments, T-bolaget, Texcel and Barnwik AB |
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Domantis Ltd. |
Cambridge, UK |
12/11/05 |
£17 |
New investors Novo Nordisk and MC Life Science Ventures Inc. joined existing investors in the Series B financing round |
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Gastrotech Pharma A/S |
Copenhagen, Denmark |
12/6/05 |
€2.3 |
Bioscience Managers Ltd. and Nordic Biotech participated in the financing round |
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Hypnion Inc. |
Lexington, Mass. |
12/19/05 |
$20.1 |
Investors in the extension of a Series B financing round included MPM Capital, Advanced Technology Ventures, Forward Ventures, Flagship Ventures, Oxford Bioscience Partners, GIMV, S.R. One Ltd., JAFCO, Alexandria Real Estate Equities and Mintz Levin Investments; $47.5M was raised in the first Series B tranche in March 2003 |
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ImaRx Therapeutics Inc. |
Tucson, Ariz. |
12/16/05 |
$15 |
Details on the financing were not disclosed |
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InsectiGen |
Atlanta |
12/12/05 |
$1.2 |
Investing in the financing round were Georgia Venture Partners Seed Fund, the Georgia Biosciences Seed Capital Fund and individuals |
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KeyNeurotek AG |
Magdeburg, Germany |
12/13/05 |
€7.75 |
The financing was completed along with the merger with Sirenade Pharmaceuticals AG; DVC Deutsche Venture Capital led the round, which included IBG Beteiligungsgesellschaft Sachsen-Anhalt and tbg/KfW |
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Light Sciences Oncology Inc. |
Seattle |
12/14/05 |
$32 |
The $32M was a second closing of the Series A round; the first closing of $35M was completed in October; investing in the second closing were Essex Woodlands Health Ventures, Scandinavian Life Science Venture, Novo A/S and New Science Ventures |
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NeurogesX Inc. |
San Carlos, Calif. |
12/1/05 |
$20 |
Investing in the extension of the Series C round were MC Life Science Ventures, MunMun International Ltd., Saudi Venture Development Co. and existing investors ARCH Venture Partners, Alta Partners, Montreux Equity Partners, Global Life-Science Ventures and Walden International Venture Partners |
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Optimer Pharmaceuticals Inc. |
San Diego |
12/14/05 |
$22.4 |
Investing in the Series D financing round were ProQuest Investments, Lurie Investments, BB Biotech Ventures, SB Life Science Ventures, UOB JAIC Venture Bio Investments, China Development Industrial Bank, ESun Bank Group, Fubon Financial Holding Venture, Global Strategic Investments, Oriental Union Chemical Corp. and Taiwan Global BioFund |
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Osiris Therapeutics Inc. |
Baltimore |
12/21/05 |
$19 |
The financing round was arranged by Friedli Corporate Finance Inc. |
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Santhera Pharmaceuticals AG |
Liestal, Switzerland |
12/20/05 |
CHF25 |
Investors in the Series B financing included NGN Capital, Oxford Bioscience Partners, Varuma AG, Merlin Bioscience Ltd., 3i Group plc, Carnegie Asset Management, GIMV, the Novartis Venture Fund, Dow Chemical Co., Clariden Biotechnology Fund, Heidelberg Innovation and the Swiss Foundation for Research of Muscle Disease |
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Solazyme Inc. |
Menlo Park, Calif. |
12/21/05 |
ND |
The Roda Group invested in the financing round, details of which were not disclosed (12/21) |
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Therion Biologics Corp. |
Cambridge, Mass. |
12/27/05 |
$50 |
Therion secured a $50M line of credit from Hans-Werner Hector, providing funding for the company into 2007 |
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II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $119.25M | ||||
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Company (Symbol)#* |
Partner (Country) |
Amt. (M) |
Triggering Event |
Details (Date) |
|
| ||||
Cerep SA (France; Nouveau Marche:CERF) |
Bristol-Myers Squibb Co. |
ND |
Milestone payment |
Triggered by entry into Phase I trial of a second LFA-1 antagonist, being developed for immuno-inflamatory disorders (12/14) |
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Critical Therapeutics Inc. (CRTX) |
MedImmune Inc. (MEDI) |
$1.25 |
Milestone payment |
Triggered by preclinical progress in their deal to develop fully human monoclonal antibodies for rheumatoid arthritis and sepsis (12/8) |
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Cytokinetics Inc. (CYTK) |
GlaxoSmithKline plc (UK) |
$0.5 |
Milestone payment |
Triggered by GSK's selection of a small-molecule development candidate, GSK-923295, against a mitotic kinesin target from their 2001 collaboration (12/13) |
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Dyax Corp. (DYAX) |
Genzyme Corp. (GENZ) |
$3 |
Milestone payment |
Triggered by initiation of a pivotal Phase III trial of Dyax's DX-88 in patients with hereditary angioedema (12/8) |
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Enanta Pharmaceuticals Inc.* |
Shionogi & Co. Ltd. (Japan) |
ND |
Milestone payment |
Triggered by the start of Phase II trials in Japan of the antibiotic EDP-420 (EP-013420; S-013420) (12/20) |
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Evotec AG(Germany; FSE:EVT) |
Takeda Pharmaceutical Co. Ltd. (Japan) |
ND |
Milestone payment |
The payment was triggered by target identification and validation work related to a target in Alzheimer's disease (12/6) |
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Flamel Technologies SA (France; FLML) |
GlaxoSmithKline plc (UK) |
$2 |
Milestone payment |
Triggered by GSK's submission of an NDA on a controlled-release formulation of a marketed GSK drug using Flamel's Micropump technology (12/21) |
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Genmab A/S (Denmark; CSE:GEN) |
F. Hoffmann-La Roche Ltd. (Switzerland) |
ND |
Milestone payment |
Roche filed an IND for a Genmab antibody developed under their deal; it was ninth milestone reached by Genmab in their collaboration (12/13) |
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Lexicon Genetics Inc. (LEXG) |
Genentech Inc. (NYSE:DNA) |
$20 |
Milestone payments |
Lexicon earned the payments for progress in programs related to Genentech's Secreted Protein Discovery Initiative and delivery of data on target identification (12/20) |
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Maxygen Inc. (MAXY) |
F. Hoffmann-La Roche Ltd. (Switzerland) |
$5 |
Milestone payment |
The milestone from their 2003 deal to develop improved interferon alpha protein therapeutics for hepatitis C was triggered by undisclosed progress (12/14) |
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Medivir AB (Sweden; SSE:MVIRB) |
Tibotec Pharmaceuticals Ltd. (Ireland) |
€5 |
Milestone payment |
Triggered by progress in preclinical development in their collaboration to develop drugs for treating heaptitis C virus (12/29) |
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Onyx Pharmaceuticals Inc. (ONXX) |
Bayer Pharmaceuticals Corp. |
$10 |
Milestone payment |
Triggered by FDA approval of their drug Nexavar (sorafenib) for treating advanced renal cell carcinoma (12/20) |
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Perlegen Sciences Inc.* |
Pfizer Inc. |
$50 |
Equity investment |
The $50M investment gave Pfizer 12% of Perlegen; it also agreed to invest up to $25M more in Perlegen's IPO if the IPO completes in 2006 (12/27) |
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Sunesis Pharmaceuticals Inc. (SNSS) |
Biogen Idec Inc. (BIIB) |
$0.5 |
Milestone payment |
Triggered by progress relating to the discovery of Raf kinase inhibitors for treating cancer, from their September 2004 deal (12/7) |
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Vernalis plc (UK; VNLS) |
Novartis AG (Switzerland) |
$1.5 |
Milestone payment |
Triggered by Novartis' selection of a development candidate from the collaboration on the oncology target Hsp90 (12/19) |
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Vertex Pharmaceuticals Inc. (VRTX) |
Merck & Co. Inc. |
$19.5 |
Milestone payments |
Two milestones were triggered: by Phase I data from a trial of the cancer agent VX-680 (MK-0457), and from Merck's selection of a follow-on compound for development (12/7) |
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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; SSE = Stockholm Stock Exchange. | ||||
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