I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $427.88M | ||||
| Company | Location | Date | Amt. (M) | Details |
| Ablynx NV | Ghent, Belgium | 4/6/04 | €25 | The Series B financing was led by Alta Partners, with Abingworth Management participating; existing investors also participating were GIMV Biotech Fund Flanders, Sofinnova Partners and Gilde |
| Affymax Inc. | Palo Alto, Calif. | 4/13/04 | $20 | The extension of the Series C round was led by Bear Stearns Health Innoventures; Apax Partners, MPM Capital and The Sprout Group invested in both parts of the Series C round, which together totaled $40M; the first part was in June 2003 |
| Agrisoma Biosciences Inc. | Burnaby, British Columbia | 4/28/04 | ND | The company was spun out by Chromos Molecular Systems Inc.; investors in the Series A round were Canadian Medical Discoveries Fund Inc., Business Development Bank of Canada and private individuals |
| AGY Therapeutics Inc. | South San Francisco | 4/7/04 | $9 | AGY raised the money through an extension of its Series C round; existing Series C investors Bear Stearns Health Innoventures, HBM Partners, Alta Partners, GIMV, Novartis Venture Fund, NIF, Jafco, Cheng Xin, Lotus and GE Capital Inc. participated (4/7) |
| AngioGenex Inc. | New York | 4/15/04 | $0.88 | The convertible bridge note and warrant financing was led by Atypical BioVentures Fund, an affiliate of Aurora Capital LLC |
| Archemix Corp. | Cambridge, Mass. | 4/6/04 | $50 | The Series B financing was led by Highland Capital Partners and included existing investors Atlas Venture, Prospect Venture Partners, Schroder Ventures Life Sciences, Rho Ventures, Care Capital, MDS Capital, Posco BioVentures and U.S. Trust Private Equity |
| Automated Cell Inc. | Pittsburgh | 4/30/04 | $0.1 | The Pittsburgh Life Sciences Greenhouse is investing $100,000 in Automated Cell; PLSG supports regional life sciences companies |
| BioTrove Inc. | Woburn, Mass. | 4/15/04 | $2.8 | BioTrove closed the second tranche of a financing; it raised $10.9M in the first tranche in January; Catalyst Health and Technology Partners led the tranche, supported by new investors Echelon Ventures and Fletcher Spaght |
| Cardiokine Inc. | Philadelphia | 4/13/04 | $37 | The Series A round was led by Perseus-Soros Biopharmaceutical Fund LP and HealthCare Ventures VII; also participating were Care Capital Investments II LP, CIBC WMC Inc. and Burrill Life Sciences Capital Fund LP |
| Cetek Corp. | Marlborough, Mass. | 4/12/04 | $16 | Investors in the Series D round included John and Stephen Davis, Gainsborough Investments, Argonaut Private Equity and James Waters, the company's founder and chairman |
| Cilian AG | Munster, Germany | 4/2/04 | €5 (US$6) | The first closing of a Series B round was led by Limburg Ventures; existing invetors also participating were ABN AMRO Capital and Newmex Ventures |
| Corus Pharma Inc. | Seattle | 4/12/04 | $60 | Bear Stearns Health Innoventures led the Series C funding; other investors were Hambrecht & Quist Capital Management, AIG Sun America Ventures, MPM BioEquities, the Carnegie Group, Corus Chairman Kirby Cramer, JP Morgan Partners, Novo A/S, RBC Capital, Burrill & Co., OrbiMed Advisors, MDS Capital, Cascade Investment, Anthem Ventures, Pacific Rim Ventures, Washington Research Foundation, Integra Ventures and WestRiver Capital; Montgomery & Co. LLC was placement agent |
| Crystalplex Corp. | Pittsburgh | 4/26/04 | $0.1 | The Pittsburgh Life Sciences Greenhouse is investing $100,000 in a pre-seed round; PLSG supports regional life sciences companies |
| Dynogen Pharmaceuticals Inc. | Boston | 4/19/04 | $50 | New investor Schroder Ventures Life Sciences led the Series B round, and was joined by Abingworth Management Ltd., Atlas Venture, Medica Venture Partners, Wellcome Trust, Oxford BioScience Partners, HealthCare Ventures and A.M. Pappas & Associates |
| Evotec Neurosciences GmbH | Hamburg, Germany | 4/2/04 | €25 (US$30.2) | TVM Techno Venture Management led the firm's first round of venture financing; also investing were 3i Group plc, MVM, Ventech, Star Ventures and private individuals; parent company Evotec OAI AG's stake was reduced to 42% |
| Favrille Inc. | San Diego | 4/6/04 | $44 | William Blair Capital Partners led the Series C round, which included other new investors Needham Capital Partners, Avtech Ventures, Oakwood Medical Investors, Piper Jaffray Ventures, Boston Life Science Venture Corp. and Howard Hughes Medical Institute; existing investors included Forward Ventures, Sanderling Ventures, Alloy Ventures, De Novo Ventures and Lotus BioScience Investment Holdings Ltd. |
| Glycoform Ltd. | Oxford, UK | 4/30/04 | £0.96 (US$1.7) | Investors in the second-round funding were not disclosed |
| Imagine Pharmaceuticals Inc. | San Diego | 4/27/04 | $3.7 | Forward Ventures, Domain Associates and RCT Bioventures West participated in the Series A financing |
| Immutep SA | Orsay, France | 4/20/04 | €2.5 (US$3) | Investors in the first-round financing were FCPI Poste Innovation funds, funded by the French Post Office group, and Innoven Partnenaires funds |
| Inotek Pharmaceuticals Inc. | Beverly, Mass. | 4/13/04 | $20 | The Series A round was led by Care Capital LLC, Rho Ventures and MedImmune Ventures Inc. |
| Nucleonics Inc. | Malvern, Pa. | 4/1/04 | $40.9 | New Enterprise Associates led the Series B round, which included new investors HealthCap, Burrill & Co., Anthem Capital Management and Posco BioVentures Inc.; founding investor S.R. One Ltd. also participated |
| Scancell Ltd. | Nottingham, UK | 4/27/04 | £1.3 (US$2.3) | Bioscience VCT and Oxford Technology 3 VCT were co-lead investors in the round; other investors in the round were Oxford Capital Partners, Cherwell Capital and certain existing investors |
| II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $14.6M | ||||
| Company (Symbol)#* | Partner (Country) | Amt. (M) | Triggering Event | Details (Date) |
| AEterna Laboratories Inc. (Canada; AELA) | Ardana Bioscience Ltd. (UK) | ND | Milestone payment | Triggered by initiation of a dose-ranging study of EP-1572, a growth hormone secretagogue (4/21) |
| Astex Technology Ltd.* (UK) | AstraZeneca plc (UK) | ND | Milestone payment | The second milestone from the March 2003 deal is related to selection and further development of molecules for Alzheimer's disease (4/19) |
| CytRx Corp. (CYTR) | Vical Inc. | $0.1 | Milestone payment | Triggered by Vical's initiation of a Phase I trial of a plasmid DNA vaccine for cytomegalovirus that incorporates CytRx's TranzFect technology (4/20) |
| Entelos Inc.* | NV Organon (the Netherlands) | ND | Milestone payment | Triggered by Entelos' delivery of targets for treating rheumatoid arthritis, as covered under their 2001 collaboration (4/6) |
| Flamel Technologies SA (France; FLML) | Bristol-Myers Squibb Co. | $5 | Milestone payment | The payment related to their collaboration on Flamel's formulation of long-acting human insulin; details were not disclosed (4/1) |
| Inologic Inc.* | Cystic Fibrosis Foundation Therapeutics Inc. | ND | Milestone payment | Triggered by demonstration of potency of NO-4995 in a CF mouse model (4/16) |
| Metabasis Therapeutics Inc.* | Valeant Pharmaceuticals International | $1 | Milestone payment | Triggered by initiation of Phase II evaluation of remofovir (formerly named Hepavir B) in patients with chronic hepatitis B (4/16) |
| Metabasis Therapeutics Inc.* | Sankyo Co. Ltd. (Japan) | $3.5 | Milestone payment | Triggered by completion of a second Phase IIa trial of CS-917, an oral gluconeogenesis inhibitor for Type II diabetes (4/8) |
| MorphoSys AG (Germany; FSE:MOR) | Centocor Inc. (unit of Johnson & Johnson) | ND | Milestone payment | The fourth milestone in their collabotion was triggered by MorphoSys' development of highly optimized, fully human IgG antibodies against a target provided by Centocor (4/15) |
| Morphotek Inc.* | Centocor Inc. (unit of Johnson & Johnson) | ND | Milestone payment | Triggered when Centocor confirmed thedevelopment of a high-titer antibody-producing cell line from their research collaboration (4/6) |
| SkyePharma plc (UK; SKYE) | Endo Pharmaceuticals Inc. | $5 | Milestone payment | The payment was made after review of Phase II trial results of Propofol IDD-D with the FDA; Endo has North American rights (4/7) |
| 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. | ||||
