Total: $726.57M

Company
(Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised (M)

Investors; Placement Agents; Details (Date)@


Alliance Pharmaceutical Corp. (OTC BB: ALLP)

Private placement of stock and warrants

31.43S and 23.57W

$11

Alliance sold the shares at about $0.35 each; the warrants are exercisable at $0.50 each (6/4)

Alteon Inc. (AMEX:ALT)

Private placement of stock

8S

$8

Alteon sold the shares from a shelf registration at $1 per share; the institutional investors have an option to purchase another 3.2M shares at $1.50 each by Dec. 31; Rodman & Renshaw LLC was placement agent (6/28)

A.P. Pharma Inc. (APPA)

Private placement of stock

4.2S

$12.5

The company sold the shares, which were covered under a shelf registration statement, at $3 each; Olympus Securities LLC was placement agent (6/24)

Avanir Pharmaceuticals Inc. (AMEX:AVN)

Underwritten stock sale

2.95S

$3.75

Lazard Freres & Co. LLC exercised its option to purchase another 2.95M shares from a stock sale in May; in total, about 22.64M shares were sold and gross proceeds were about $28.75M (6/10)

Calypte Biomedical Corp. (OTC BB:CYPT)

Private placement of stock and warrants

23.25S and 8.138W

$9.3

Calypte sold the shares at $0.40 each, and the five-year warrants are exercisable at $0.50 per share; SF Capital Partners Ltd. led the financing, which included largest shareholder Marr Technologies BV (6/1)

Chiron Corp. (CHIR)

Private placement of convertible debentures

N/A

$350

The 30-year 2.75% debentures carry an initial conversion price of $67 per share; they may not be called for redemption by Chiron for six years, and holders have the option to require Chiron to purchase their debentures at par value at various points over the 30 years (6/17)

CV Therapeutics Inc. (CVTX)

Private placement of convertible notes

N/A

$25

Purchasers of $125M in 2.75% senior subordinated convertible notes due 2012 in May exercised their option on another $25M in notes; they initially are convertible into common stock at $17.68 per share (6/8)

EPIX Medical Inc. (EPIX)

Private sale of convertible senior notes

N/A

$100

The 3% notes due 2024 were purchased by institutional buyers; the total includes the purchase of $25M in notes to cover an overallotment option; they initially are convertible into stock at $29.77 per share, and the company has the right to redeem them starting in 2009 (6/2)

InSite Vision Inc. (AMEX:ISV)

Private placement of stock and warrants

ND

$14.6

Shareholders approved the addition of $14.6M to the $2M raised in the first tranche, in which shares were sold at about $0.50 each and warrrants were exercisable at $0.75 per share; Paramount BioCapital Inc. was placement agent (6/15)

Integrated Pharmaceuticals Inc. (OTC BB:INTP)

Private placement of stock and warrants

1.25S and 0.625W

$1.25

Investors in a $4.2M financing in March exercised their option to purchase another 1.25M shares, and 625,000 warrants that are exercisable at $2.50 per share (6/7)

Medivir AB (Sweden; SSE:MVIR)

Discounted rights issue

4.26S

SEK322.5 (US$43.5)

Medivir sold 4.26M shares in an oversubscribed subscription rights offering (6/3)

Myriad Genetics Inc. (MYGN)

Underwritten offering

3.4S

$50.2

Myriad sold the shares from a shelf registration statement; details on the deal were not disclosed; Morgan Stanley & Co. Inc. underwrote the offering and has an option to purchase another 510,000 shares to cover overallotments (6/4)

Nastech Pharmaceutical Co. Inc. (NSTK)

Private placement of stock and warrants

1.14S and 0.511W

$12.5

The shares covered under a shelf registration were sold to an institutional investor at $11 per share; the warrants are convertible at $14.40 per share; WR Hambrecht + Co LLC was financial adviser (6/28)

NexMed Inc. (NEXM)

Private placement of stock and warrants

5.52S and 1.93W

$8.27

The warrants are exercisable six months after closing at $2 per share; SDS Capital and Penfield Partners were among 16 investors participating in the deal; UBS Securities LLC was placement agent (6/23)

Norwood Immunology Ltd. (Australia; AIM:NIM; subsidiary of Norwood Abbey Ltd.; ASX:NAL)

Public listing and private placement

15S

A$15 (US$10.7)

Norwood Immunology listed on the Alternative Investment Market in London after completing a private placement and converting loans into equity; the company had 121M shares outstanding after the deal; Norwood Abbey retained a stake of 83% (6/28)

Ondine Biopharma Corp. (Canada; VSE:OBP)

Private placement of stock

7.53S

C$17 (US$12.8)

The syndicate of agents participating in the deal was led by McFarlane Gordon Inc. and Canaccord Capital (Europe) Ltd. and included Haywood Securities Inc.; they have an 18-month option to purchase another 753,166 shares (6/30)

OXIS International Inc. (OTC BB:OXIS)

Loan

N/A

$1.2

OXIS got a loan, in the form of a one-year secured note, from its major investor Axonyx Inc. (6/3)

StemCells Inc. (STEM)

Private placement of stock and warrants

13.158S and 3.29W

$20

The stock was sold at $1.52 per share and the warrants are exercisable at $1.90 per share; C.E. Unterberg, Towbin LLC was placement agent (6/17)

Valentis Inc. (VLTS)

Private placement of stock and warrants

2.2S and 0.67W

$12

The stock and warrants were sold as units at $5.4075 per unit; the five-year warrants are exercisable at $6.98 per share; Jefferies & Co Inc. was placement agent (6/14)

Viragen Inc. (AMEX:VRA)

Sale of convertible notes and stock warrants

N/A

$20

Terms of the notes and stock purchase warrants were not disclosed; eight institutional investors participated in the deal (6/29)


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.

Currencies 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; SSE = Stockholm Stock Exchange; VSE = Vancouver Stock Exchange.

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