I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $435.39M | ||||
Company |
Location |
Date |
Amt. (M) |
Details |
Alba |
Baltimore |
8/23/05 |
$30 |
SV Life Sciences and Alta Partners led the Series A round, which included HealthCap, Red Abbey Venture Partners, the Maryland Venture Fund and existing investors Esperance BioVentures, Astellas Ventures, Maryland TEDCO and Townsend Capital |
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Alder Bio- |
Seattle |
8/15/05 |
$11.1 |
The Series A financing was led by Sevin Rosen Funds and included Ventures West, WRF Capital and other investors |
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Atonomics |
Copenhagen, Denmark |
8/11/05 |
€4.5 (US$5.5) |
A second tranche of €4.5M is expected within two years; investors included Inventages, Murata, NeuroSearch A/S and Vaekstfonden; NeuroSearch gained a 20.16% stake in Atonomics in the deal |
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Avacta Ltd. |
Leeds, UK |
8/11/05 |
£0.3 (US$0.54) |
IP2IPO Group invested £300,000 in the seed round of the Leeds University spinout |
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CellTran Ltd. |
Sheffield, UK |
8/2/05 |
£2.7 (US$4.8) |
New investor YFM Group led the funding round, which included existing investors Biofusion plc and White Rose Seedcorn Fund and new investor Partnerships UK plc |
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Cerenis |
Toulouse, France |
8/22/05 |
$30.5 |
The Series A financing was led by Sofinnova Partners and HealthCap, and included Alta Partners, EDF Ventures and NIF Ventures |
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Cerexa Inc. |
Alameda, Calif. |
8/23/05 |
$50 |
Cerexa was spun out of Peninsula Pharmaceuticals Inc.; Frazier Healthcare Ventures and New Leaf Venture Partners co-led the Series A round, which included Domain Associates, Canaan Partners, OrbiMed Advisors, A.M. Pappas & Associates, Montreux Equity Partners, EGS Heathcare and CDIB BioScience Ventures |
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Genoptix Inc. |
San Diego |
8/10/05 |
$17.3 |
Chicago Growth Partners joined existing investors Enterprise Partners, Alliance Technology Ventures, Tullis-Dickerson & Co. Inc., U.S. Trust's Excelsior Venture Partners III LLC and Lotus Bioscience Investment Holdings in the Series D financing round |
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Inotek |
Beverly, Mass. |
8/30/05 |
$25 |
Inotek raised $25M in the first tranche of a planned $35M Series B round, which was led by Pitango Venture Capital and included existing investors Care Capital LLC, Rho Ventures and MedImmune Ventures Inc. |
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Intercytex |
Cambridge, UK |
8/2/05 |
£12 (US$21.5) |
Existing shareholders Avlar BioVentures, Merlin Biosciences, 3i, Cambridge Gateway Partnership, NIF Ventures and Scottish Equity Partners participated in Series C financing round |
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ISTO |
St. Louis |
8/31/05 |
$10.8 |
The financing package included equity and development funds; Zimmer Holdings Inc. led the financing round, which included Alafi Capital Co. LLC, Life Science Partners and Mid-America Transplant Services |
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Karus |
Southampton, UK |
8/1/05 |
£0.75 (US$1.35) |
The University of Southampton spinout received seed funding from IP2IPO and the SULIS fund |
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MIP |
Lund, Sweden |
8/23/05 |
SEK30 (US$3.9) |
Catella Healthcare Investments AB led the financing round; Malmahus Invest and company management also participated |
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Mpex |
San Diego |
8/11/05 |
$32 |
The Series B financing was led by SV Life Sciences and HBM BioVentures Ltd./HBM BioCapital LP and included other new investors Aberdare Ventures and Adams Street Partners and existing investors Western States Investment Group and Charitable Leadership Foundation |
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OncoGenex |
Vancouver, British Columbia |
8/16/05 |
$12.8 |
Participating in the company's third financing round were existing investors Ventures West, H.I.G. Ventures, the Working Opportunity Fund and Business Development Bank of Canada and new investors WHI Morula Fund LLC and BC Advantage Funds |
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Oxford |
Oxford, UK |
8/3/05 |
£7 (US$12.7) |
The Series B financing round was led by Prelude Ventures, and included Quester, the Dow Chemical Co. and Top Technology |
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Profos AG |
Regensburg, Germany |
8/23/05 |
€5 (US$6.1) |
Bio Fund Management Ltd. led the financing round; existing shareholders Danisco Venture A/S and Capital Stage AG also participated |
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Protez |
Malvern, Pa. |
8/24/05 |
$15 |
The Series B financing round was led by Bio- Advance Ventures and Birchmere Ventures, and included L Capital Partners, S.R. One and previous investor BTG |
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Regado |
Research Triangle Park, N.C. |
8/15/05 |
$20 |
The Series B financing was co-led by Domain Associates and Quaker BioVentures, and included Aurora Funds and individual investors |
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Speedel Group |
Basel, Switzerland |
8/4/05 |
CHF70 (US$55.5) |
Speedel raised CHF70M through a convertible loan that was subscribed to primarily by existing investors |
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TargeGen Inc. |
San Diego |
8/31/05 |
$30 |
The Series C financing round was led by BB Biotech Venture and H&Q Healthcare Capital Management; also participating were existing investors Forward Ventures, Enterprise Partners, William Blair Capital Partners/Chicago Growth Partners, CDP Capital Technology Ventures/VantagePoint Venture Partners, China Development Industrial Bank, A.M. Pappas & Associates and others |
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Tengion Inc. |
King of Prussia, Pa. |
8/3/05 |
$39 | Among the investors in the Series A round were Oak Investment Partners, Johnson & Johnson Development Corp., HealthCap and L Capital Partners |
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II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $25.8M | ||||
Company |
Partner |
Amt. |
Triggering |
Details (Date) |
Anadys |
Novartis AG (Switzerland) |
$10 |
Milestone payment |
Triggered by FDA acceptance of the IND to start testing ANA975, an oral Toll-like receptor 7agonist for treating hepatitis C (8/18) |
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Cenix |
Bayer HealthCare AG (Germany) |
ND |
Milestone payment |
The payment stemmed from delivery by Cenix of a collection of potential therapeutic targets under its deal with Bayer (8/9) |
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Human Genome |
GlaxoSmithKline plc (UK) |
$7 |
Milestone payments |
HGSI got payments for reaching manufacturing and preclinical development milestones on the diabetes candidate GSK716155 (formerly Albugon), which is covered under a 2004 deal (8/1) |
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MorphoSys |
Novartis AG (Switzerland) |
ND |
Milestone payment |
MorphoSys successfully generated fully human antibodies against a cancer-related target molecule under their 2004 deal (8/8) |
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Osiris |
JCR Pharmaceuticals Co. Ltd. (Japan) |
ND |
Milestone payment |
A milestone was met in an August 2003 deal that granted JCR rights in Japan to a stem cell drug for graft-vs.-host disease (8/4) |
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Pharmasset |
Incyte Corp. (INCY) |
ND |
Milestone payment |
Triggered when Reverset exceeded the goal in reducing HIV viral load in a trial called Study 203 (8/23) |
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7TM Pharma |
Johnson & Johnson Development Corp. |
ND |
Equity investment |
7TM and J&J are collaborating on development of oral compounds for treating asthma and allergic diseases; terms of the investment were not disclosed (8/18) |
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TopoTarget |
CuraGen Corp. |
$4.8 |
Milestone payment |
The milestone was paid for extending a Phase II trial of the histone deacetylase inhibitor PXD101 in multiple myeloma to the U.S. (8/9) |
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Unigene |
Upsher-Smith Laboratories Inc. |
$4 |
Milestone payment |
Triggered by FDA approval of Fortical calciton-in-salmon nasal spray for treating post- menopausal osteoporosis (8/15) |
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; OTC BB = Over-the-Counter Bulletin Board. | ||||
