I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $198.914M | ||||
Company |
Location |
Date |
Amt. (M) |
Details |
Alnylam Pharmaceuticals Inc. |
Cambridge, Mass. |
8/2 |
$17 |
Alnylam raised $17M in Series A and B financings with Polaris Venture Partners, ARCH Venture Partners and Atlas Venture |
Amoebics Ltd. |
Edinburgh, UK |
8/21** |
£0.5 (US$0.763) |
Amoebics raised US$763,000 in a second-round funding from a group of Scottish investors led by the Archangel Syndicate |
Archemix Corp. |
Cambridge, Mass. |
8/13 |
$51.75 |
Archemix raised a total of $51.75M in its Series A financing led by Schroder Ventures Life Sciences, Atlas Venture and Prospect Venture Partners; other investors were Rho Ventures, Care Capital, MDS Capital, Posco BioVentures and U.S. Trust Private Equity |
Cureon A/S |
Copenhagen, Denmark |
8/14** |
DKK34 (US$4.5) |
Cureon raised US$4.5M from a consortium of Scandinavian investors |
Dharmacon Research Inc. |
Lafayette, Colo. |
8/23 |
$5.7 |
Dharmacon Research completed a $5.7M round of equity financing led by Boulder Ventures Ltd., with Telegraph Hill Partners also participating |
Evolutec Ltd. |
Oxford, UK |
8/8 |
£1.82 (US$2.78) |
Evolutec raised US$2.78M through the issuance of ordinary shares; Friends, Ivory & Sime plc led the round, with the remainder purchased by private investors |
Medgenics Inc. |
Misgav, Israel |
8/28** |
$10 |
Medgenics raised $10M in a Series B financing, mostly from Israeli-based funds and matching funds by earlier investors led by Alta Partners |
Nobex Corp. |
Research Triangle Park, N.C. |
8/13 |
$35 |
Nobex raised $35M in a private placement of Series F preferred stock; the round was led by AEA Investors, and included EndPoint Late Stage Fund I LP, HealthCap, and a group of venture capital firms based in Taiwan |
Noxxon Pharma AG |
Berlin |
8/22 |
9.3 (US$9.03) |
Noxxon Pharma completed an internal mezzanine financing round led by Merlin Biosciences; other investors were WestLB, Hannover Finanz, DEWB, Berlin Capital Fund, Viscardi, Oppenheim and Peppermint |
ParinGenix Inc. |
Charlotte, N.C. |
8/12 |
$4 |
ParinGenix raised $4M in a private financing; lead investors were Academy Venture Fund, Research Corp. Technologies and A.P. Kennedy Family Securities |
Phico Therapeutics Ltd. |
Cambridge, UK |
8/14** |
£0.45 (US$0.691) |
Phico raised US$691,000 from Cambridge Research and Innovation Ltd., Providence Investment Company Ltd., Emblem Technology Partners Ltd. and business angels |
Quorex Pharmaceuticals Inc. |
Carlsbad, Calif. |
8/6 |
$10.6 |
Quorex raised $10.6M in an extension to its Series B round that originally raised about $20M in early 2001; investors were Prism Venture Partners, Johnson & Johnson Development Corp., Tullis-Dickerson & Co. Inc., IngleWood Ventures, China Development Industrial Bank and Pacific Growth Equities |
Serenex Inc. |
Durham, N.C. |
8/20 |
$15 |
Serenex raised $15M in a Series B financing led by Intersouth Partners; other investors were Lilly BioVentures and Seaflower Ventures, as well as Mediphase Venture Partners |
Spherics Inc. |
Lincoln, R.I. |
8/14 |
$10 |
Spherics completed a second round of financing raising $10M; investors were Zero Stage Capital, CB Health Ventures, PODHolding Inc. and Eastman Ventures |
Sucampo Pharmaceuticals Inc. |
Bethesda, Md. |
8/8 |
$16 |
Sucampo raised $16M when Fujisawa Pharmaceuticals Co. Ltd., Orix Corp. and UFJ Capital Co. Ltd. purchased $8M, $5M and $3M in stock, respectively |
Xention Discovery Ltd. |
Cambridge, UK |
8/21** |
£4 (US$6.1) |
Xention was formed with US$6.1M in venture capital backing; the financing was led by MVM Ltd. |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $3.875M | ||||
Company (Symbol)#* |
Partner (Country) |
Amt. (M) |
Triggering Event |
Details (Date) |
AltaRex Corp. (OTC BB:ALXFF; TSE:AXO) |
United Therapeutics Corp. (UTHR) |
$2.475 |
Investment |
Pursuant to terms of a collaboration, United exercised a warrant to purchase 3.25M AltaRex common shares for $1.6M; it also purchased a debenture for $875,000 (8/16) |
Biodiem Ltd.* (Australia) |
Merck & Co. Inc. |
ND |
Milestone payment |
Biodiem received the payment associated with its licensing agreement to develop, manufacture and market a live attenuated influenza vaccine, delivered by nasal spray (8/29) |
Cytokinetics Inc.* |
GlaxoSmithKline plc (UK) |
ND |
Milestone payment |
Cytokinetics received a payment for beginning a Phase I trial of a small-molecule inhibitor of kinesin spindle protein (8/12) |
Exelixis Inc. (EXEL) |
Bristol-Myers Squibb Co. |
ND |
Milestone payment |
Exelixis received an undisclosed milestone payment after the companies completed selection of a set of cancer targets (8/6) |
Isis Pharmaceuticals Inc. (ISIS) |
Amgen Inc. (AMGN) |
ND |
Milestone payment |
Isis received the payment from Amgen for research progress in the companies' three-year antisense drug discovery collaboration (8/14) |
MorphoSys AG (Germany; Neuer Markt:MOR) |
Centocor Corp. (unit of Johnson & Johnson) |
ND |
Milestone payment |
MorphoSys received the payment for achieving a milestone in its collaboration to deliver several antibodies against a target molecule (8/21**) |
Neurobiological Technologies Inc. (NTII) |
Merz Pharmaceuticals GmbH (Germany) |
$1.4 |
Milestone payment |
Neurobiological received a $1.4M payment for achieving goals related to the marketing launch of Memantine in Europe (8/12) |
Notes: | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
* Denotes privately held company. | ||||
** Denotes the date the item ran in BioWorld International. | ||||
ND = Not disclosed. | ||||
OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange | ||||
