I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $380.65M
Participating in the fourth-round financing were existing investors Teknoinvest, Ferd Venture and Four Seasons Venture, as well as new investor Braganza A/S
Aria Biosystems Corp.
Menlo Park, Calif.
Alloy Ventures and Latterell Venture Partners led the first-round financing; also participating were Agilent Ventures and Versant Ventures
ARYx Therapeutics Inc.
Santa Clara, Calif.
The Series D financing was led by Nomura Phase4 Ventures; other new investors were JAFCO Life Science Investments, Scottish Widows Investment Partnership, Montreux Equity Partners, Novel Bioventures, Itochu International and ATEL Ventures; returning investors were MPM Capital, OrbiMed and Merlin BioMed
Artielle Therapeutics Inc.
Virogenomics Inc. spun out its program in auto-immune diseases into Artielle, which closed on the first part of a potential $11M investment; Sanderling Ventures led the round and was joined by UV Partners, Tenex Greenhouse and Northwest Technology Ventures
Axxima Pharmaceuticals AG
Techno Venture Management, the lead investor in two previous rounds, also led the third-round financing
Bridge Pharmaceuticals Corp.
Menlo Park, Calif.
SRI International launched Bridge Pharmaceuticals, which completed a Series A round led by WI Harper Group and including Taiwan's Industrial Technology Research Institute ITIC Fund, the Development Center for Biotechnology, YFY Group and Singapore's Springboard Harper
Avlar BioVentures Ltd. led the first-round financing, which included Providence Investment Co. Ltd.; the amount was not disclosed
Cellular Genomics Inc.
Cellular raised $12.6M in the second closing of its Series C financing; the first closing brought in $22.3M in January; investing in the second closing were new investors CDP Capital, RiverVest Venture Partners and Toucan Capital Corp., as well as previous investors Coastview Capital and Connecticut Innovations Inc.
San Carlos, Calif.
Participating in the financing round were HBM BioVentures, Alta Partners, GIMV NV, Hanseatic Asset Management, Techne Corp., OrbiMed Advisors and Pictet
Combinature Biopharm AG
Aurelia Private Equity GmbH led the Series B round, which also included C Venture GmbH and 3i Group Investments LP
Fulcrum Pharmaceuticals Inc.
The company's first institutional round of financing was led by Third Point Management Co. LLC and included direct investments by Fujisawa Investments for Entrepreneurship LP funds
HemeBiotech raised €15 million, €4.5 million of which it received immediately; the remainder will be provided through a consortium of investors
Idun Pharmaceuticals Inc.
The preferred stock financing led by MPM Capital was expected to be the initial tranche of a two-part financing of $65.6M; other new investors were Sutter Hill Ventures, Prospect Venture Partners, Pacific Rim Ventures and Aberdare Ventures; returning investors were GeneChem, Venrock Associates, Hambrecht & Quist Capital Management, RBC Capital Partners, BioVeda Capital and Ventana Capital Management; Montgomery & Co. was placement agent
Overland Park, Kan.
The Kansas Technology Enterprise Corp. made a seed-round investment in the firm, which was created and initially funded by EGB Advisors LLC
Ionix Pharmaceuticals Inc.
Ionix began its Series C financing round with new investments from existing investors Apax Partners and The Wellcome Trust
The Series B round was led by new investor HealthCap and co-led by current investors TVM Techno Venture Management and 3i; also participating were Sanders Morris Harris, the PolyTechnos Funds, IBB-Beteiligungs- esellschaft and bmp, as well as private investors
Modular Genetics Inc.
Boston University Community Technology Fund was the lead investor in what was expected to be the first closing in a Series B financing
Auriga Partners led the second-round financing; another new investor, Crédit Lyonnais Private, also joined previous investors Bioam, Axa Private Equity and Inserm-Transfert in the investment
New investor Quaker BioVentures participated in the second close of the Series B round, as did previous investors New Enterprise Associates and S.R. One Ltd.; together with $40.9 raised in April, the round totaled $49.2M
Ramat Gan, Israel
Trimaran Investments and the Office of the Chief Scientist of the Ministry of Industry and Trade in Israel participated in the financing
Pecos Labs Inc. (spin-off of SIGA Technologies Inc.)
SIGA spun off into Pecos immunological bioinformatics technology and certain vaccine development assets; at the same time Pecos raised money from private investors, and SIGA retained a minority stake (6/1)
Protez Pharmaceuticals Inc.
BTG was the founding investor and BioAdvance, the biotechnology greenhouse of Southeastern Pennsylvania, also participated in the seed round, which was capped with a $300,000 purchase of convertible debt by Ben Franklin Technology Partners
PTC Therapeutics Inc.
South Plainfield, N.J.
The $15M investment completed the Series E financing; the company raised $35M in December 2003; new investors included Genavent Partners LP, Novartis BioVentures and POSCO BioVentures
The Woodlands, Texas
Schroder Ventures Life Sciences led the Series B round, which included other new investors Boston Millennia Partners, Cogene BioTech Ventures, OrbiMed Advisors and Prospect Venture Partners; previous investors BCM Technologies, Burrill & Co. and Novo A/S also participated
Somaxon Pharmaceuticals Inc.
Domain Partners VI LP led the Series B preferred stock round, which also included BA Venture Partners, Montreux Equity Partners, Fog City Fund, CDIB Bioscience Ventures and Windamere Venture Partners
Symphony Neuro Development Co.
Institutional investors led by Symphony Capital formed SNDC with a $43M investment to develop the neuroimmunophilin ligand GPI 1485, which it licensed from Guilford Pharmaceuticals Inc.
Pan Atlantic Bank and Trust Ltd., an early institutional investor in Vaccinex, led the second-round financing
Research Triangle Park, N.C.
Zen-Bio received a loan of $150,000 in the form of a North Carolina Biotechnology Center Small Business Research Award
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $130.4M
Array BioPharma Inc. (ARRY)
AstraZeneca plc (UK)
Triggered by initiation of a Phase I trial of the small-molecule cancer compound ARRY- 142886 (AZD6244) (6/14)
Array BioPharma Inc. (ARRY)
Triggered by research progress in their January 2002 deal under which Array is helping discover leads for an Amgen target (6/1)
ChemBridge Research Laboratories LLC*
Eisai Co. Ltd. (Japan)
A discovery milestone in their collaboration targeting a G protein-coupled receptor triggered further discovery support to CRL (6/2)
Kirin Brewery Co. Ltd. (Japan)
Triggered by successful production of calves that carry the human heavy-and light-chain antibody genes but lack both copies of the bovine heavy chain antibody gene (6/2)
Indevus Pharmaceuticals Inc. (IDEV)
Pliva d.d. (Croatia)
Triggered by FDA approval of Sanctura, a product for treating overactive bladder that will be co-promoted by the companies (6/2)
Isis Pharmaceuticals Inc. (ISIS)
Eyetech Pharmaceuticals Inc.
Triggered by Eyetech's filing of an NDA for Macugen to treat wet age-related macular degeneration; Isis patents were used in developing the product (6/24)
Karo Bio AB (Sweden; SSE:KARO)
Triggered by advancement into predevelopment a lead compound for atherosclerosis covered under their 2001 collaboration (6/18)
Ligand Pharmaceuticals Inc. (LGND)
GlaxoSmithKline plc (UK)
Triggered by GSK's decision to continue Phase II development of GW501516, a peroxisome proliferation- activated receptor modulator for treating dyslipidemias (6/14)
Structural GenomiX Inc.*
Eli Lilly and Co.
Validation milestones were reached in the installation of a high-throughput structural biology facility for Lilly (6/2)
Unigene Laboratories Inc. (OTC BB:UGNE)
GlaxoSmithKline plc (UK)
Triggered by the start of a Phase I trial of an oral formulation of parathyroid hormone for osteoporosis that is covered under their April 2002 collaboration (6/22)
# 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.
OTC BB = Over-the-Counter Bulletin Board; SSE = Stockholm Stock Exchange.