I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $92.0M
Alimera Sciences Inc.
Intersouth Partners led the Series A financing and was joined by BA Venture Partners, Domain Associates and Polaris Venture Partners; the firm was formed by former Novartis Ophthalmics executives
Avidis SA (France)
Investing in the company was CHP, a venture capital fund also based in Clermont-Ferrand**
Details on the private equity round were not disclosed
Inimex Pharmaceuticals Inc.
Vancouver, British Columbia
Inimex completed the first closing of a Series A financing; investors included BDC Venture Capital, the Canadian Medical Discoveries Fund and GrowthWorks Capital
Ventures West led the seed financing round, with participation from H.I.G. Ventures, NeuroVentures Fund and Genesys Capital Partners; the company was spun out of MCR Research
Ruxton Pharmaceuticals Inc.
Domain Associates, New Enterprise Associates and Aberdare Ventures co-led the Series A financing
TheraQuest Biosciences LLC
Blue Bell, Pa.
BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania and Ben Franklin Technology Partners of Southeastern Pennsylvania invested $500,000 and $250,000, respectively, joining the company founder and CEO in the seed round financing
TransTech Pharma Inc.
High Point, N.C.
TransTech closed on $10M of a $30M addition to its Series E financing round, the first part of which was $24.5M in February 2003; subsequent closings are scheduled later in 2004 and in 2005; investors included MacAndrews & Forbes Holdings and Novo Nordisk A/S
Trubion Pharmaceuticals Inc.
The Series B financing was co-led by Prospect Venture Partners and Venrock Associates; Series A investors Arch Venture Partners, Frazier Healthcare Ventures, Oxford Bioscience Partners and ATP Capital also participated in the round
Vitra Bioscience Inc.
Mountain View, Calif.
Alta Partners was lead investor in the Series B round, with participation from Sofinnova Ventures, Mediphase Venture Partners and Three Arch Partners
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $8.7M
Amylin Pharmaceuticals Inc. (AMLN)
Eli Lilly and Co.
Triggered by completion of trial that showed similar glucose control and increased weight loss for exenatide vs. glargine in Type II diabetics (7/26)
Celera Genomics Group (NYSE:CRA)
Merck & Co. Inc.
Triggered by Merck's advancement of a cathepsin K inhibitor into a Phase I trial as a potential treatment for osteoporosis (7/26)
Crucell NV (the Netherlands; CRXL)
DSM Biologics (the Netherlands)
Triggered by a development milestone related to yields and performance in their collaboration on protein production (7/6)
Europroteome AG* (Germany)
Triggered by reaching a project milestone in their collaboration to develop diagnostics for breast cancer (7/15)
Ingenium Pharmaceuticals AG* (Germany)
Bayer AG (Germany)
Reached by Ingenium's development of specific genetic mouse models for Bayer; it was not disclosed whether the milestone triggered a payment (7/27)
Ligand Pharmaceuticals Inc. (LGND)
TAP Pharmaceutical Products Inc.
Triggered by TAP's selection of an additional selective androgen receptor modulator as a clinical candidate for treatment of androgen-related diseases (7/9)
The Speedel Group* (Switzerland)
Novartis AG (Switzerland)
Speedel got a milestone payment and equity investment related to Novartis' development of the oral renin inhibitor Aliskiren (SPP 100), which it recently moved into Phase III trials forhypertension (7/13)
Vertex Pharmaceuticals Inc. (VRTX)
GlaxoSmithKline plc (UK)
Triggered by European approval of Telzir, an HIV protease inhibitor co-discovered by the companies (7/16)
Vical Inc. (VICL)
Gencell SAS (subsidiary of Aventis SA; France)
Triggered by progress at Gencell in developing fibroblast growth factor-1 for cardio- vascular diseases using Vical's DNA delivery technology, as covered in their June 2000 deal (7/26)
# Unless otherwise indicated, shares are traded on the Nasdaq exchange.
* Private company; ** Denotes the date the item ran in BioWorld International.
Currencies conversions are based on exchange rates at the time of the deal.
ND = Not disclosed.
NYSE = New York Stock Exchange.