I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $92.0M

Company

Location

Date

Amt. (M)

Details


Alimera Sciences Inc.

Atlanta

7/9/04

$26.75

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)

Clermont-Ferrand, France

7/14/04

€1.5
(US$1.8)

Investing in the company was CHP, a venture capital fund also based in Clermont-Ferrand**

Diffusion Pharmaceuticals
LLC

Charlottesville, Va.

7/28/04

$2.1

Details on the private equity round were not disclosed

Inimex Pharmaceuticals Inc.

Vancouver, British Columbia

7/6/04

C$6 (US$4.5)

Inimex completed the first closing of a Series A financing; investors included BDC Venture Capital, the Canadian Medical Discoveries Fund and GrowthWorks Capital

NeurAxon Inc.

Mississauga, Ontario

7/21/04

C$2.5
(US$1.9)

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.

Baltimore

7/26/04

$5.2

Domain Associates, New Enterprise Associates and Aberdare Ventures co-led the Series A financing

TheraQuest Biosciences LLC

Blue Bell, Pa.

7/22/04

$2.25

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.

7/12/04

$10

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.

Seattle

7/14/04

$32

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.

7/14/04

$5.5

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

Company (Symbol)#*

Partner (Country)

Amt. (M)

Triggering Event

Details (Date)


Amylin Pharmaceuticals Inc. (AMLN)

Eli Lilly and Co.

$5

Milestone payment

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.

ND

Milestone payment

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)

ND

Milestone payment

Triggered by a development milestone related to yields and performance in their collaboration on protein production (7/6)

Europroteome AG* (Germany)

Abbott Laboratories

ND

Milestone payment

Triggered by reaching a project milestone in their collaboration to develop diagnostics for breast cancer (7/15)

Ingenium Pharmaceuticals AG* (Germany)

Bayer AG (Germany)

ND

Milestone achievement

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.

$1

Milestone payment

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)

ND

Milestone payment

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)

$1.5

Milestone payment

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)

$1.2

Milestone payment

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)


Notes:

# 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.

No Comments