I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $300.15M | ||||
Company | Location | Date | Amt. (M) | Details |
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Amphora |
Research Triangle Park, N.C. | 12/8/04 |
$20 | The Series C round was led by the 3i Group; new investors Novartis Venture Fund and Aventis Capital also participated, along with existing investors ARCH Venture Partners, MPM Capital, Venrock Associates and Versant Ventures |
Chroma |
Oxford, UK |
12/7/04 | £5 |
Essex Woodlands LLC invested in a second tranche of a second-round financing, the first part of which brought in £10M in May |
Endocyte Inc. | West Lafayette, Ind. |
12/6/04 | $22.6 |
The Series C-2 round was led by Burrill & Co. and included new investors Blue Chip Venture Co., Triathlon Venture Partners and Twilight Venture Partners, and existing investors Sanderling Venture Partners, Cincinnati Financial Corp. and American Bailey Ventures |
FoldRx |
Cambridge, Mass. | 12/13/04 |
$16 | The Series A financing round was led by HealthCare Ventures; Fidelity Biosciences also invested |
Genizon |
Montreal |
12/13/04 | C$11.1 (US$9) |
The company, which changed its name from Galileo Genomics at the time of the deal, closed the second tranche of a Series B financing; Solidarity Fund QFL led the round, which included existing investors HBM BioVentures, MVI, Biofund and Carnegie, as well as private investors |
Intarcia |
Emeryville, Calif. | 12/1/04 |
$50 | Among those participating in the Series E round were existing investors Alta Partners, New Enterprise Associates and Venrock Associates and new investor Granite Global Ventures |
Molecular |
Phoenix | 12/8/04 |
$1.35 | The Translational Genomics Research Institute and the International Genomics Consortium formed the company, which raised $1.35M in a seed round |
Neotropix |
Malvern, Pa. |
12/13/04 | $10 |
The Series A financing was co-lead by The Aurora Funds, Quaker BioVentures and Vimac Milestone Medica Fund |
OptiNose A/S | Oslo, Norway |
12/20/04 | €4.5 (US$6.1) |
The Series B funding was led by existing investor Andromeda-Fund BV |
Osel Inc. |
Santa Clara, Calif. | 12/21/04 |
ND | The company completed a Series C round of financing; details were not disclosed |
Prestwick |
Washington |
12/6/04 | $37 |
Pequot Ventures led the Series B round, which included Sofinnova Ventures, Vivo Ventures, Atlas Ventures, BA Venture Partners and CNF Investments |
Purely |
Cambridge, UK | 12/1/04 |
$3.6 | Avlar BioVentures led the Series B round, which also included VCT2 plc and Bioscience VCT plc |
QuatRx |
Ann Arbor, Mich. | 12/13/04 |
$31 | Thomas Weisel Healthcare Ventures led the Series C financing; also participating were existing investors Frazier Healthcare Ventures, TL Ventures, MPM Capital, InterWest Partners, Stockwell Capital and Twilight Ventures |
Santhera |
Liestal, Switzerland | 12/17/04 |
€7 (US$9.3) | NGN Capital led the investment in the second closing of a first-round funding; a tranche of €7M was raised in September; other investors in this tranche were Altana Innovationsfond GmbH, Heidelberg Innovation and a private investor |
Sirtris |
Boston |
12/1/04 | $13 |
New investor The Wellcome Trust led the Series A round; also participating were current investors and co-leads Polaris Venture Partners, Techno Venture Management, Cardinal Partners and Skyline Ventures |
Targacept |
Winston-Salem, N.C. | 12/8/04 |
$33 | Nomura Phase4 Ventures led the financing for Targacept, which in May registered for an initial public offering |
XDx Inc. |
South San Francisco | 12/1/04 |
$20 | The Sprout Group led the Series D round, which also included new investors JP Morgan's Bay Area Equity Fund, Integral Capital Partners and Burrill & Co. and existing investors Kleiner Perkins Caufield & Byers and TPG Ventures |
ZyStor |
Milwaukee | 12/15/04 |
$8.5 | Mason Wells and Venture Investors led the first-round financing, which also included Prolog Ventures, the Wisconsin Investment Board, Hexagon Investments, Apjohn Ventures and Stonehenge Capital |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $129.19M | ||||
Company |
Partner |
Amt. |
Triggering |
Details (Date) |
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Anika |
Ortho Biotech Products LP (unit of Johnson & Johnson) | $5 |
Milestone payment | Triggered by incorporation of upgrades of Anika's manufacturing operations for Ortho- Visc, which is approved for treating osteoarthritis of the knee (12/20) |
Arena |
Ortho-McNeil Pharmaceutical Inc. (unit of Johnson & Johnson) | $5 |
Milestone payments | Ortho-McNeil selected for further preclinical development two compounds from their collaboration in Type II diabetes, triggering a $2.5M payment per compound (12/23) |
Cambria |
Dow AgroSciences LLC | ND |
Milestone payments | The milestones were for validated target sites and functional assays for lead insecticidal compounds furnished by Dow; the collaboration focuses on crop protection and urban pests (12/13) |
Epigenomics |
Roche Diagnostics (Switzerland) | ND |
Milestone payment | Triggered by successful identification of a set of DNA methylation biomarkers that closely correlate with prostate cancer aggressiveness (12/22) |
ExonHit |
Allergan Inc. | ND |
Milestone payment | ExonHit synthesized an orally active small molecule in their collaboration that showed promise in a preclinical pain model (12/13) |
Eyetech |
Pfizer Inc. | $105 |
Milestone payment and equity investment | Following approval of Macugen, Pfizer will pay Eyetech a $90M license-fee payment and make an additional $15M equity investment (12/17) |
GPC Biotech |
Altana Pharma AG (Germany) | $1.2 |
Milestone payments | One milestone was for the successful transfer of various technologies to Altana; three research milestones also were reached under their drug discovery collaboration (12/23) |
Innogenetics |
Roche Diagnostics (Switzerland) | €5 (US$6.8) |
Milestone payment | The first milestone was reached from their May 2001 deal to develop a rapid molecular microbiology testing assay (12/21) |
Isis Pharmaceuticals Inc. (ISIS) | Eyetech Pharmaceuticals Inc. | $3 |
Milestone payment | Triggered by FDA approval of Macugen for treating wet age-related macular degeneration; Eyetech licensed Isis patents needed for the product, and will pay royalties (12/20) |
Lexicon |
Genentech Inc. | ND |
Milestone payment | Third milestone in their deal was triggered by Lexicon's identification of the physiological and behavioral functions of 50% of the proteins included in the alliance (12/29) |
MorphoSys |
GPC Biotech AG (Germany) | ND |
Milestone payment | Tiggered by GPC's advancement of an anti- cancer antibody generated using MorphoSys' HuCAL technology into Phase I trials (12/9) |
Noven |
P&G Pharmaceuticals Inc. | $3 |
Milestone payment | For reaching an undisclosed development milestone in their collaboration (12/29) |
Pharmos |
Bausch & Lomb | ND |
Milestone payment | Pharmos earned the payment when former partner Bausch & Lomb gained FDA approval of the ophthalmic product Zylet (12/15) |
SemBioSys |
AVAC Ltd. | C$0.23 (US$0.19) |
Milestone payment | SemBioSys received the third milestone payment in the deal worth up to C$2.5M to develop the StratoCapture Protein A Purification System (12/16) |
Transform |
AstraZeneca plc (UK) | ND |
Milestone payment | Triggered by conclusion of a series of crystallization studies on AstraZeneca compounds (12/1) |
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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. | ||||
FSE = Frankfurt Stock Exchange; TSE = Toronto Stock Exchange. | ||||
