I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $358.27M

Company

Location

Date

Amt. (M)

Details


Acusphere
Inc.

Watertown,
Mass.

7/25

$15

Acusphere raised $15M in its seventh round of financing led by Thomas Weisel Capital Partners LLC; other investors were BA Venture Partners, Polaris Venture Partners, Alta Ventures, MVI Medical Ventures Investments Ltd., Prism Venture Partners, BancBoston Ventures, Audax Group, Technology Funding Venture Capital, Boston University and CIT Group Inc.

Addex Pharma-
ceuticals
SA

Geneva

7/17**

CHF15.75 (US$10.9)

Addex raised US$10.9M in its first financing round co-led by Sofinnova Partners and Index Ventures; other investors were TVM, BCV Initiative Capital and undisclosed private investors

AGY Thera-
peutics
Inc.

South San
Francisco

7/10

$31.3

AGY Therapeutics netted $31.3M in a Series C financing led by Bear Stearns Health Innoventures and HBM Bioventures Ltd.; other investors were NIF Ventures, China Development Industrial Bank, Cheng Xin Venture Capital, MIC Capital LLC, Lotus Bioscience Ventures Ltd., the capital funding group of GE Capital, GIMV Venture Capital, Alta Partners, Forward Ventures, Jafco Co. Ltd., Lombard Odier and Novartis Venture Fund; J.P. Morgan H&Q was the placement agent and financial adviser

Anadys Pharma-
ceuticals
Inc.

San Diego

7/25

$38.3

Anadys raised $38.3M in its Series C round led by Care Capital LLC; other investors were Advent International, Atlas Ventures, Chinese Develop- ment Investment Bank, Coastview Capital, HBM BioVentures, International BioMedicine Holdings, Lotus Biosciences, SG Asset Management, SG Capital Partners, Sete SA, Venrock Associates and others; SG Cowen Securities Corp. acted as placement agent and Bear, Stearns acted as co-manager

ARYx Thera-
peutics
Inc.

Santa Clara,
Calif.

7/2

$25

ARYx raised $25M in a Series C round led by MPM Capital; other investors were OrbiMed Advisors and Merlin BioMed Group

BioAxone Therapeutics
Inc.

Montreal

7/2

C$11.5 (US$7.5)

BioAxone closed a US$7.5M round; investors were T2C2/Bio2000, Solidarity Fund QFL, Investissement Desjardins and Innovatech

Corgentech
Inc.

Palo Alto, Calif.

7/16

$50

Corgentech raised $50M in a Series C financing led by Bear Stearns Health Innoventures LP; other investors were JP Morgan Partners, HBM Bioventures Ltd., Alta Partners, InterWest Partners, CDIB, Temasek Capital, PRM Ventures and others; JPMorgan H&Q was the exclusive placement agent

Cyclis Pharma-
ceuticals Inc.

Norwood, Mass.

7/17

$5

Cyclis raised $5M in a financing round led by Ampersand Ventures

F2G Ltd.

Manchester, UK

7/3**

5 (US
$7.65)

F2G raised US$7.65M in a venture capital funding round

Ganymed
Pharmaceuticals
AG

Mainz, Germany

7/31**

8.85 (US
$8.74)

Ganymed raised US$8.74M in a first-round financing led by Nextech Venture; other investors were Sud Venture Capital Investition GmbH & Co. KG, Future Capital AG, Venture Incubator AG and the Investitions und Strukturbank Rheinland-Pfalz

Hydra Bio-
sciences Inc.

Cambridge,
Mass.

7/25

$9.3

Hydra Biosciences raised $9.3M in its first round of financing led by Polaris Venture Partners; other investors were New Enterprise Associates, Advanced Technology Ventures, Boston Medical Investors and several individuals

IC-Vec Ltd.

London

7/24**

3.1 (US$4.8)

In its spin-out from Imperial College London, IC-Vec raised US$4.8M in Japanese venture capital and intellectual property from Mitsubishi Chemical Corp.

Innate Pharma
SAS

Marseille, France

7/8

20 (US$19.7)

Innate Pharma raised US$19.7M in a Series B round of financing led by Alta Partners and Axa Private Equity; other investors were Sofinnova Partners, GIMV, Auriga, Pechel Industries, Gilde Biotech and Nutrition and Innoveris

Isolagen Inc.

Houston

7/16

$10.1

Isolagen completed a $10.1M private offering of about 2.9M shares of 8% Series A convertible preferred stock at $3.50 per share

MetaPhore Pharmaceuticals Inc.

St. Louis

7/10

$30

MetaPhore raised $30M in a Series C financing led by HealthCare Ventures VI LP, Advent Venture Partners and Merrill Lynch Ventures LP; other investors were Prolog Ventures, Gryphon Holdings, Clayton Capital Investors and Simile Investors; Stifel, Nicolaus & Co. Inc. provided financial advisory services

Newron Pharm-
aceuticals
SpA

Gerenzano, Italy

7/23

6.5 (US
$6.48)

Newron raised US$6.48M from Apax Partners, bringing the total raised in a private financing to 25M (US$25M)

Personal Chemistry AB

Uppsala, Sweden

7/3**

SEK290 (US$31.6)

Personal Chemistry raised US$31.6M in a fourth financing round; investors were HealthCap, 3i plc, Investor Growth Capital, SEB Foeretags- invest, SEB Fonder and MVI SA

Salus Thera-
peutics
Inc.

Salt Lake City

7/3

$2.4

Salus raised $2.4M in a Series B financing; investors were Utah Ventures II, vSpring Capital and WS Investment Co.

Scion Pharma-
ceuticals
Inc.

Medford, Mass.

7/18

$17.5

Scion raised $17.5M in a Series B private equity financing led by Lehman Brothers and Lancet Capital; other investors were GeneChem Therapeutics Venture Fund, Gray Ghost, Life Sciences Partners, NeuroVentures, S.R. One Ltd. and Oxford Bioscience Partners

Zyomyx Inc.

Hayward, Calif.

7/31

$27

Zyomyx raised $27M in a Series E financing led by Credit Suisse First Boston Private Equity; other investors were Lilly BioVentures and GE Capital Life Science and Technology Finance

II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $29.3M

Company (Symbol)#*

Partner
(Country)

Amt.
(M)

Triggering Event

Details (Date)


Agenica
Research Pte.
Ltd.*
(Singapore)

Shimadzu Corp.
(Japan)

S$2.7 (US$1.5)

Investment

Shimadzu made a US$1.5M investment in Agenica and will collaborate with the venture to construct a database of genes related to cancer (7/3)

Atrix Labora-
tories Inc.

(ATRX)

Sanofi-Synthelabo
Inc.

$6

Milestone payment

Atrix received the payment for the introduction of the prostate cancer product Eligard 7.5 mg, leuprolide acetate for injectable suspension (7/11)

Biacore AB
(Sweden;
BCOR)

Reverse Proteomics Research Institute Co. Ltd.

ND

Investment

Biacore received an undisclosed investment in its Biacore S51 (7/8)

Cerus Corp.
(CERS)

Baxter Healthcare
Corp.

$5

Milestone payment

Cerus received a $5M milestone payment for the first regulatory approval of the Intercept Blood System for platelets (7/11)

Cubist Pharm-
aceuticals
Inc.
(CBST)

Novartis Pharma AG (Switzerland)

ND

Milestone payment

Cubist received an undisclosed payment for the delivery of the fourth validated target and high-throughput screening assay in the collaboration (7/29)

DepoMed Inc
(AMEX:DMI)

Biovail Laboratories Inc. (Canada)

$12.3

Investment

DepoMed sold about 2.4M shares to Biovail as part of a development and license agreement for Metformin GR (7/10)

Exelixis Inc.
(EXEL)

Bayer AG
(Germany)

ND

Milestone payment

Exelixis received a milestone payment after delivering assays based on validated pesticide targets (7/31)

Exelixis Inc.
(EXEL)

Dow Agro-
Sciences LLC

ND

Milestone payment

Exelixis received the milestone payment after completing a project that provides new insights into the target and mechanism of action of a herbicidal compound (7/1)

GPC Biotech
AG
(Germany; FSE:GPC)

Boehringer Ingelheim GmbH (Germany)

ND

Milestone payments

GPC received milestone payments in its virology alliance with Boehringer Ingelheim (7/9)

Human Genome Sciences Inc. (HGSI)

GlaxoSmithKline
plc (UK)

ND

Milestone payment

Human Genome Scienced received the mile- stone payment after beginning Phase I trials of SB-462795 to evaluate its potential in treating osteoporosis (7/16)

ID Biomedical
Corp.
(Canada; IDBE; TSE:IDB)

Applied Biosystems Group (NYSE:ABI)

ND

Payment

Applied Biosystems made a payment to maintain its right to use ID Biomedical's Cycling Probe technology (7/25)

Karo Bio AB
(Sweden; SSE:KARO)

Merck & Co.
Inc.

ND

Milestone payment

Karo Bio received a milestone payment related to its estrogen receptor collaboration with Merck (7/17)

Kenna
Technologies
Inc.*

Medinnova
Partners (Canada)

ND

Strategic investment

Kenna received the investment for its in silico drug discovery platform (7/3)

MorphoSys
AG
(Germany; Neuer Markt: MOR)

F. Hoffmann-La
Roche Ltd. (Switzerland)

ND

Milestone payment

MorphoSys received the payment after generating and delivering several antibodies (7/1)

Neurochem Inc.
(Canada;
TSE:NRM)

Picchio Pharma
Inc. (Canada)

C$7 (US$4.5)

Investment

Picchio acquired 2.8M units of Neurochem at C$2.50 per unit, which includes one Neurochem share and one warrant exercisable within three years (7/29)

Pharmacopeia
Inc.
(PCOP)

Schering AG (Germany)

ND

Milestone payment

Pharmacopeia received a milestone payment in its lead discovery collaboration related to its identification of a lead compound series that met potency, selectivity and other criteria (7/25)

ProQuest Pharm-
aceuticals
Inc. (NYSE:PQE)

Guilford Pharma-
ceuticals Inc. (GLFD)

ND

Milestone payment

ProQuest received a milestone payment as PQ-1002 entered a Phase II trial in Europe (7/26)


Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange; AMEX = American Stock Exchange; FSE = Frankfurt Stock Exchange; SSE = Stockholm Stock Exchange; TSE = Toronto Stock Exchange.

* Denotes privately held company; ** Denotes the date the item ran in BioWorld International; ND = Not disclosed.

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