Total: $744.88M

Company
(Symbol)#
(M)

Type Of
Financing

Number Of Shares, Units
Or Warrants

Amount
Raised
(M)

Investors; Placement Agents; Details (Date)@


Aastrom
Biosciences
Inc.
(ASTM)

Private placement of stock

4.8S

$12

The private placement concludes an October 2002 deal between Aastrom and Fusion Capital Fund II LLC, which also purchased $12M of stock in the first tranche (1/13)

Alexion
Pharmaceuticals
Inc.
(ALXN)

Private placement of convertible notes

N/A

$150

The 1.375% convertible senior notes due 2012 are convertible into stock at $31.46 per share; the total includes the purchase of $25M in notes per the investors' option (1/18)

Alteon Inc.
(AMEX:ALT)

Private placement of stock

9.5S

$10

The shares were sold from a shelf registration at $1.05 each; Rodman & Renshaw LLC was placement agent (1/7)

Antigenics
Inc.
(AGEN)

Private placement of convertible notes

N/A

$50

The 5.25% convertible senior notes initially are convertible into common stock at $10.76 per share; investors have an option on another $10M in notes (1/20)

ArQule
Inc.
(ARQL)

Private placement of stock

5.78S

$30.35

ArQule sold the shares from a shelf registration at $5.25 each in a direct offering; JP Morgan Securities Inc. was placement (1/25)

AtheroGenics
Inc.
(AGIX)

Private placement of convertible notes

N/A

$200

The 1.5% notes due 2012 are convertible into common shares at an initial price of about $25.92 per share; the total includes $25M in notes purchased under an overallotment option (1/7)

AVI BioPharma
Inc.
(AVII)

Private placement of stock and warrants

8S and 1.6W

$24

AVI sold the shares from a shelf registration at $3 each; the four-year warrants are exercisable at $5 per share; Rodman & Renshaw LLC was placement agent (1/19)

Biofusion plc
(UK; AIM:BFN)

Private placement of stock

5.49S

£8.2 (US$15.45)

Biofusion gained a listing on the Alternative Invesment Market concurrent with the placement, giving the company a market cap of about £28.2M; Code Securities Ltd. was adviser and broker for the deal (1/28)

Biopure Corp.
(BPUR)

Private placement of stock

22.2S

$11.3

The shares were sold from a shelf registration at $0.51 each to individual and institutional investors; C.E. Unterberg, Towbin LLC was placement agent (1/5)

CepTor Corp.
(OTC BB:CEPO)

Private placement of units

0.048U

$12

The company sold 480 units at $25,000 per unit; each unit consists of one share of Series A stock, each convertible into 10,000 common shares, and one three- ear warrant that entitles the holder to purchase 5,000 shares; Brookshire Securities Corp. was placement agent (1/31)

ChemGenex
Pharmaceuticals
Ltd.
(Australia;
ASX:CXS)

Private placement of stock

14.9S

A$8.2 (US$6.3)

The shares were sold at A$0.55 each; investors included Charter Pacific Corp. Ltd., which maintained its 20.1% stake, Queensland Investment Corp., Merck Sante, HSBC and Acorn Capital (1/24)

Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)

Private placement of stock and warrants

2.215S and 1.108W

C$1.06 (US$0.86)

Units were sold for C$0.48 apiece; each consists of one share and a half a warrant; each whole warrant allows for the purchase of one share at C$0.60 for two years (1/14)

ConjuChem
Inc.
(Canada;
TSE:CJC)

Bought-deal financing

4.625S

C$21.74M (US$17.53)

Orion Securities Inc. and GMP Securities Ltd. co-led the financing, in which shares were sold at $4.70 each; underwriters have an option to purchase up to 694,000 additional shares (1/28)

CytRx Corp.
(CYTR)

Private placement of stock and warrants

17.33S and 8.67W

$21.3

The shares were sold for about $1.23 each to institutional investors; warrants are exercisable for $2 per share; Rodman & Renshaw LLC was placement agent (1/21)

Depomed
Inc.

Private placement of stock

5.036S

$22.66

The shares are being sold from a shelf registration at $4.50 each; Thomas Weisel Partners LLC was placement agent (1/7)

DOV
Pharmaceutical
Inc.
(DOVP)

Private placement of convertible notes

N/A

$15

Purchasers of $65M of convertible subordinated debentures due 2025 exercised their option on another $15M in notes; they have an interest rate of 2.5% and an initial conversion price of $22.75 per share (1/4)

Genetronics
Biomedical Corp.
(AMEX:GEB)

Private placement of stock and warrants

ND

$3.03

Shares were sold at $4.05 each to institutional investors; 80% of the funds are being held until Sept. 30, unless triggered by a milestone earlier; two- year warrants representing 33% of the total are exercisable at $5.50 per share (1/12)

Geron Corp.
(GERN)

Warrants exercise

2S

$12.5

Investors in a November 2004 private placement exercised warrants to purchase 2M shares (1/12)

GTC
Biotherapeutics
Inc.
(GTCB)

Private placement of stock

7.7S

$10.4

The shares were sold from a shelf registration at $1.35 each; SG Cowen & Co. LLC was placement agent (1/24)

Lorus
Therapeutics
Inc.
(Canada; TSE:LOR)

Private placement of convertible notes

N/A

$5

TEMIC made the second of three planned $5M investments; it has an option to convert the debenture into common stock at $1 per share (1/17)

Ortec
International
Inc.
(OTC BB:
ORTN)

Private placement of stock and warrants

N/A

$6.4

The total includes a $5M private placement and a $1.4M equity transaction; at the same time, Series C preferred shareholders converted the shares into common stock on the same terms; together, about 15.8M shares and five-year warrants to purchase 7.9M warrants were issued (1/6)

Pharming
Group NV
(the Netherlands;
Euronext:PHARM)

Exercise of warrants and options

ND

€7
(US$9.1)

Investors in a February 2004 financing exercised warrants to purchase 3.3M shares at €2 each; also, company insiders exercised 0.5M options and warrants (1/24)

Pluristem
Life Systems
Inc.
(Israel;
OTC BB:PLRS)

Private
placement of
securities

ND

$0.76

Terms of the interim private placement were not disclosed (1/27)

RegeneRx Bio-
pharmaceuticals
Inc.
(OTC BB:RGRX)

Private placement of stock and warrants

1.8S and 0.45W

$5.86

Investors led by Sigma-Tau Group bought the shares at $3.25 each; the three-year warrants are exercisable at $4.06 per share; ThinkEquity Partners LLC was placement agent for the two- tranche deal (1/3)

Sinovac
Biotech Ltd.
(China; AMEX:SVA)

Private placement of units

0.492S and 0.492W

$1.48

Institutional investors paid $3 per unit, which consisted of one share and a one-year warrant exercisable at $3.35 per share (1/3)

Sirna
Therapeutics
Inc.
(RNAI)

Warrants exercise

2.7S

$6.8

Investors exercised warrants for 2.7M shares at about $2.52 each; investors were Sprout Group, Venrock Associates, Oxford Bioscience Partners and Granite Global Ventures; they were issued 1.1M new five-year warrants exercisable at $3.85 per share (1/4)

Targeted
Genetics Corp.
(TGEN)

Private placement of stock

3.947S

$6

Celladon Corp. investors Enterprise Partners and Venrock Associates purchased the stock in a directed public offering at $1.52 per share following a collaboration between Celladon and Targeted Genetics (1/4)

Tripos Inc.
(TRPS)

Private placement of various securities

N/A

$4

Horizon Technology Finance LLC and Sand Hill Capital invested in the deal that included $3.5M of subordinated debt, 111,606 shares of stock and warrants to purchase 156,250 shares (1/5)

Vasogen Inc.
(Canada; VSGN)

Private placement of stock

9S

$42.3

Vasogen sold the shares from a shelf registration at $4.70 per share; SG Cowen & Co. LLC was lead agent and sole book manager for the deal; Needham & Co. Inc. was co-lead agent, and A.G. Edwards & Sons Inc. was placement agent (1/28)

Vion
Pharmaceuticals
Inc.
(VION)

Private placement of stock

10S

$32.5

Vion sold the shares from a shelf registration at $3.25 each to institutional investors; CIBC World Markets Corp. and Leerink Swann & Co. were placement agents (1/26)


Notes:

This chart does not include real estate or manufacturing plant financings.

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

@ Dates refer to the date of the press release.

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

N/A = Not applicable; ND = Not disclosed.

AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange.

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