I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $435.39M

Company

Location

Date

Amt. (M)

Details


Alba
Therapeutics
Corp.

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

Alder Bio-
pharmaceuticals
Inc.

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

Atonomics
A/S

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

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

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

Cerenis
Therapeutics
SA

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

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

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

Inotek
Pharmaceuticals
Corp.

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.

Intercytex
Ltd.

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

ISTO
Technologies
Inc.

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

Karus
Therapeutics
Ltd.

Southampton, UK

8/1/05

£0.75 (US$1.35)

The University of Southampton spinout received seed funding from IP2IPO and the SULIS fund

MIP
Technologies
AB

Lund, Sweden

8/23/05

SEK30 (US$3.9)

Catella Healthcare Investments AB led the financing round; Malmahus Invest and company management also participated

Mpex
Pharmaceuticals
Inc.

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

OncoGenex
Technologies
Inc.

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

Oxford
Immunotec
Ltd.

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

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

Protez
Pharmaceuticals
Inc.

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

Regado
Biosciences
Inc.

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

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

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

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

II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $25.8M

Company
(Symbol)#*

Partner
(Country)

Amt.
(M)

Triggering
Event

Details (Date)


Anadys
Pharmaceuticals
Inc.
(ANDS)

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)

Cenix
BioScience
GmbH*
(Germany)

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)

Human Genome
Sciences Inc.
(HGSI)

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)

MorphoSys
AG
(Germany;
FSE:MOR)

Novartis AG (Switzerland)

ND

Milestone payment

MorphoSys successfully generated fully human antibodies against a cancer-related target molecule under their 2004 deal (8/8)

Osiris
Therapeutics
Inc.*

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)

Pharmasset
Inc.*

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)

7TM Pharma
A/S*
(Denmark)

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)

TopoTarget
A/S
(Denmark;
CSE:TOPO)

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)

Unigene
Laboratories
Inc.
(OTC BB:UGNE)

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.

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