I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $358.27M | ||||
Company | Location | Date | Amt. (M) | Details |
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Acusphere | Watertown, | 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. |
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Addex Pharma- | 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 |
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AGY Thera- | South San | 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 |
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Anadys Pharma- | 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 |
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ARYx Thera- | Santa Clara, | 7/2 | $25 | ARYx raised $25M in a Series C round led by MPM Capital; other investors were OrbiMed Advisors and Merlin BioMed Group |
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BioAxone Therapeutics | 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 |
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Corgentech | 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 |
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Cyclis Pharma- | Norwood, Mass. | 7/17 | $5 | Cyclis raised $5M in a financing round led by Ampersand Ventures |
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F2G Ltd. | Manchester, UK | 7/3** | 5 (US | F2G raised US$7.65M in a venture capital funding round |
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Ganymed | Mainz, Germany | 7/31** | 8.85 (US | 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 |
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Hydra Bio- | Cambridge, | 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 |
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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. |
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Innate Pharma | 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 |
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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 |
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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 |
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Newron Pharm- | Gerenzano, Italy | 7/23 | 6.5 (US | Newron raised US$6.48M from Apax Partners, bringing the total raised in a private financing to 25M (US$25M) |
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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 |
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Salus Thera- | 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. |
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Scion Pharma- | 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 |
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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 |
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II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $29.3M |
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Company (Symbol)#* | Partner | Amt. | Triggering Event | Details (Date) |
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Agenica | Shimadzu Corp. | 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) |
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Atrix Labora- | Sanofi-Synthelabo | $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) |
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Biacore AB | Reverse Proteomics Research Institute Co. Ltd. | ND | Investment | Biacore received an undisclosed investment in its Biacore S51 (7/8) |
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Cerus Corp. | Baxter Healthcare | $5 | Milestone payment | Cerus received a $5M milestone payment for the first regulatory approval of the Intercept Blood System for platelets (7/11) |
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Cubist Pharm- | 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) |
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DepoMed Inc | 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) |
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Exelixis Inc. | Bayer AG | ND | Milestone payment | Exelixis received a milestone payment after delivering assays based on validated pesticide targets (7/31) |
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Exelixis Inc. | Dow Agro- | 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) |
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GPC Biotech | Boehringer Ingelheim GmbH (Germany) | ND | Milestone payments | GPC received milestone payments in its virology alliance with Boehringer Ingelheim (7/9) |
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Human Genome Sciences Inc. (HGSI) | GlaxoSmithKline | 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) |
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ID Biomedical | 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) |
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Karo Bio AB | Merck & Co. | ND | Milestone payment | Karo Bio received a milestone payment related to its estrogen receptor collaboration with Merck (7/17) |
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Kenna | Medinnova | ND | Strategic investment | Kenna received the investment for its in silico drug discovery platform (7/3) |
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MorphoSys | F. Hoffmann-La | ND | Milestone payment | MorphoSys received the payment after generating and delivering several antibodies (7/1) |
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Neurochem Inc. | Picchio Pharma | 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) |
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Pharmacopeia | 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) |
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ProQuest Pharm- | Guilford Pharma- | ND | Milestone payment | ProQuest received a milestone payment as PQ-1002 entered a Phase II trial in Europe (7/26) |
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Notes: |
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# 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. |
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* Denotes privately held company; ** Denotes the date the item ran in BioWorld International; ND = Not disclosed. |
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