I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $276.4M | ||||
Company | Location |
Date | Amt. (M) |
Details |
Agennix Inc. |
Houston |
3/30/05 |
$22 |
All major existing shareholders in the company participated in the financing, which also included new investors |
Alantos |
Cambridge, Mass. |
3/10/05 |
$20 |
Participating in the Series B financing were existing investors Oxford Bioscience Partners, SV Life Sciences, Earlybird, ABN AMRO, Heidelberg Innovation and Ventech |
Arginox |
Menlo Park, Calif. |
3/1/05 |
$25 |
The Series C round was led by existing investor Topspin Partners; Perseus Soros Biopharmaceutical Fund also participated |
B-Bridge |
Sunnyvale, Calif. |
3/29/05 |
$4.2 |
Bio-sight Capital Co. Ltd. led the financing, which also included Hokkaido Venture Capital Inc., Marubeni Corp. and existing investors |
Borean |
Aarhus, Denmark |
3/23/05 |
€4 |
The Series A financing was led by Aravis Venture and included existing investors BankInvest, Novi and Incuba |
Cleveland |
Cleveland |
3/25/05 |
$5.9 |
Sunrise Equity Partners LP led a group of private and institutional investors in the financing round |
Evolva Biotech |
Allschwil, Switzerland |
3/22/05 |
CHF3 (US$2.5) |
New investor Andhra Pradesh Industrial Development Corp. Venture Capital led the second close of the company's Series A financing; it raised CHF18.5M in the first close in August 2004 |
Fibrex Medical |
Wilmington, Del., and Vienna, Austria |
3/15/05 |
$10 |
Global Life Science Ventures and Atlas Venture led the Series A financing, which included EMBL Ventures and Mulligan BioCapital |
GeneExcel Inc. |
Houston |
3/15/05 |
$1 |
ITX International Holdings Inc., which licensed certain rights from GeneExcel, invested $700,000 in the Series A round; Alkek Ventures and some private investors also participated |
ImaRx |
Tucson, Ariz. |
3/10/05 |
$7 |
First Montauk Securities Corp. was placement agent for the financing |
KaloBios |
Palo Alto, Calif. |
3/16/05 |
$20 |
The Series B financing round was led by MPM Capital and GBS Venture Partners, and included Lotus BioScience Ventures and existing investors Sofinnova Ventures, Alloy Ventures, 5AM Ventures and Singapore BioInnovations Pte. Ltd. |
Mitra |
Lund, Sweden |
3/30/05 |
SEK30 (US$4.2) |
Inter Ikea and Industrifonden invested in the financing round |
Nautilus |
Paris |
3/1/05 |
€7.25 (US$9.6) |
Auriga Partners led the financing round; investors in the company include Matignon Technologies, Edmond Rothschild Investment Partners, FCJE, Pre- PO Invest, 123 Venture and Creabilis Biotech |
Performance |
Kingston, Ontario |
3/23/05 |
C$1.5 (US$1.2) |
Participating in the financing round were existing investors Golden Opportunities Fund, Dynex Capital Partners and Venture Link Funds |
PharmAthene |
Annapolis, Md. |
3/10/05 |
ND |
Simultaneous with its acqusition of Protexia technology from Nexia Biotechnologies Inc., the company completed a Series C financing; investors included Teachers' Private Capital, Canadian Medical Discoveries Fund Inc., MDS Life Sciences Technology Fund US LP, MPM Capital, Bear Stearns Health Innoventures and HealthCare Ventures |
Rosetta |
Rehovot, Israel |
3/22/05 |
$4 |
Kadima High Tech led the Series C round, which included Teva Pharmaceutical Industries Ltd., GlenRock Israel and a number of individual investors |
Sequoia |
Gaithersburg, Md. |
3/20/05 |
$22 |
The Series B financing was led by Health Care Ventures and included Sofinnova Partners, Aberdare Ventures and The Wellcome Trust |
Sirtris |
Waltham, Mass. |
3/7/05 |
$27 |
The Series B round was led by new investor Three Arch Partners and co-lead by Cargill Ventures, and included Novartis Bioventures Fund, Polaris Venture Partners, Techno Venture Management, Cardinal Partners, Skyline Ventures and The Well- come Trust |
TolerRx Inc. |
Cambridge, Mass. |
3/29/05 |
$31 |
Bear Stearns Health Innoventures led the Series D financing, which included all existing investors as well as NIF Ventures and individuals |
TopoTarget |
Copenhagen, Denmark |
3/16/05 |
€15 (US$19.8) |
Investors in the Series C financing included Bank-Invest, HealthCap and Deutsche Venture Capital |
TorreyPines |
San Diego |
3/16/05 |
$34.8 |
The company changed its name from Neurogenetics Inc.; Johnson & Johnson Development Corp. and Alta BioPharma Partners led the Series C round; other investors included NIF Ventures, Sorrento Ventures, GIMV, Alta Partners, Advent International, Novartis Venture Fund and S.R. One |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $62.2M | ||||
Company |
Partner |
Amt. |
Triggering |
Details (Date) |
| | ||||
BioSeek Inc.* |
Dynavax |
ND |
Milestone |
BioSeek used its BioMAP Systems to characterize the biological activity of a family of TNF-alpha inhibitors known as thiazolopyrimidines for Dynavax (3/2) |
Caprion |
Abbott Laboratories |
ND |
Milestone payment |
Triggered by Abbott's acceptance of the final data set of tumor antigen targets that were discovered by Caprion (3/21) |
Curis Inc. |
Wyeth Pharmaceuticals |
ND |
Milestone payment |
Triggered by progress in preclinical development of Hedgehog pathway agonists for treating stroke, neurological and other disorers under their 2004 deal (3/23) |
Enanta |
Shionogi & Co. Ltd. (Japan) |
ND |
Milestone payment |
Triggered by Shiongi's initiation of Phase I trials in Japan for the community antibiotic EP-013420 (3/14) |
Icagen Inc. |
Yamanouchi Pharmaceutical Co. Ltd. (Japan) |
ND |
Milestone payment |
Triggered by selection of a compound for advanced preclinical studies from their collaboration in dementia (3/15) |
ImmunoGen |
Sanofi Aventis Group (France) |
$2 |
Milestone payment |
Triggered by Sanofi Aventis' initiation of clinical testing of the anti-CD33 Tumor- Activated Prodrug compound huMy9-6-DM4, which it licensed from ImmunoGen (3/17) |
InKine |
Zeria Pharmaceutical Co. Ltd. (Japan) |
$1 |
Milestone payment |
Triggered by Zeria's submission of a new drug application in Japan for use of sodium phosphate tablets as a colonic purgative, bowel cleansing agent or laxative (3/29) |
Maxygen |
Hoffmann-La Roche Inc. |
ND |
Milestone payment |
The payment was triggered by progress in their collaboration to develop improved interferon alpha protein therapeutics to treat hepatitis C virus (3/30) |
Millennium |
Johnson & Johnson Pharmaceutical Research and Development LLC |
$20 |
Milestone payments |
Two $10M payments were triggered by achievement of thresholds in year-to-date Velcade sales outside the U.S. (3/7) |
Millennium |
GlaxoSmithKline plc (UK) |
$19.9 |
Milestone payment |
Triggered by the successful transfer of the central marketing authorization of Integrrilin in Europe to GSK, and related activities (3/7) |
NeuroSearch A/S (Denmark; CSE:NEUS) |
GlaxoSmithKline plc (UK) |
€10 (US$13) |
Milestone payment |
Triggered by GSK's decision to initiate a Phase II trial of NS2359 (GSK372475) for the treatment of depression (3/29) |
Orphan Medical |
UCB Pharma (Belgium) |
$1 |
Milestone payment |
Triggered by submission of a supplemental NDA to the FDA seeking approval of Xyrem for reducing excessive daytime sleepiness and improving fragmented sleep in narcolepsy patients (3/21) |
Proteome |
High Q Foundation |
$0.3 |
Milestone payment |
Triggered by identification of the first candidate biomarkers for Huntington's disease in clinical samples of plasma and cerebrospinal fluid (3/31) |
Seattle |
Genentech Inc. |
ND |
Milestone payment |
The milestone is based on Genentech's pre- clinical progress in development of an anti- body-drug conjugate using Seattle Genetics' technology (3/15) |
Supratek |
Bioaccelerate Holdings Inc. |
$5 |
Equity investment |
Bioaccelerate made a $5M equity investment in Supratek, with which it is developing cancer drugs (3/24) |
Vicuron |
Novartis Pharma AG (Switzerland) |
ND |
Milestone payment |
Triggered by follow-up lead product candidates by Novartis from collaboration focused on peptide deformylase inhibitors (3/4) |
Zealand |
Sanofi Aventis Group (France) |
ND |
Milestone payment |
Triggered by Sanofi's successful completion of Phase IIa trials of AVE0010, a GLP-1 agonist it licensed from Zealand (3/3) |
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. | ||||
ASX = Australian Stock Exchange; CSE = Copenhagen Stock Exchange. | ||||
