I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $241.6M |
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Company | Location | Date | Amt. (M) | Details |
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Agilix Corp. | New Haven, Conn. | 2/25 | $7 | Agilix raised $7M in its second round of financing, which began in December; investors were SAIC Venture Capital Corp., Temasek Capital, Burrill & Co., Hambrecht & Quist Capital Management, Stephens Group Inc., Wheatley MedTech Partners and VioVeda; Stephens Inc. acted as placement agent |
AM-Pharma BV | Bilthoven, the Netherlands | 2/26 | ND | AM-Pharma closed its second round of financing, led by ABN AMRO Capital and including existing investor BioPartner Startup Ventures and other private investors |
Arrow Therapeutics Ltd. | London | 2/12 | US$10 | Arrow completed its second major funding round led by GIMV; other investors were Alta Partners, 3i Group plc, TVM and Unibio |
Beyond Genomics Inc. | Waltham, Mass. | 2/14 | $11 | Beyond Genomics raised $11M in its second round of financing; new investors included AGTC Funds/Flagship Ventures and Gilde Investment Management |
BioImage A/S | Copenhagen, Denmark | 2/6** | EUR15.2 (US$13.2) | BioImage raised US$13.2M in a second-round financing led by Abingworth Management Ltd. and funds advised by Apax Partners; Novo A/S also participated |
BioProcessors | Woburn, Mass. | 2/1 | $6 | BioProcessors raised $6M in a Series A financing led by Oxford Bioscience Partners; other participants were Rowland Capital and Sequoia International Investments |
BioSeek Inc. | Burlingame, Calif. | 2/20 | $8.4 | BioSeek raised $8.4M in its first round of venture financing; investors were Bay City Capital, Fremont Ventures, SImile Investors LLC and Vanguard Ventures |
Cellomics Inc. | Pittsburgh | 2/15 | $20 | Cellomics raised $20M in a Series D financing, led by Oxford Bioscience Partners |
GenMetrics Corp. | San Jose, Calif. | 2/12 | $3.5 | GenMetrics received $3.5M in funding for research and development of its technology |
Inhibitex Inc. | Atlanta | 2/11 | $41.4 | Inhibitex raised $41.4M in a Series D financing of convertible preferred stock; investors were New Enterprise Associates, Essex Woodlands Health Ventures, CDP Sofinov, Alliance Technology Ventures, William Blair Capital Partners and Pacific Horizon Partners |
Invenux Inc. | Denver | 2/8 | $6.7 | Invenux raised $6.7M in a Series A financing supported by Medallion Enterprises LLC and ATP Capital |
LaunchCyte LLC | Pittsburgh | 2/5 | $2 | LaunchCyte secured about $2M in new funding |
MesoSystems Technology Inc. | Kennewick, Wash. | 2/5 | $3 | MesoSystems received $3M from Ardesta LLC as part of a Series A preferred investment round |
Microscience Ltd. | Wokingham, UK | 2/20** | 25.5 (US$36.3) | Microscience raised US$36.3M in a third-round funding led by Advent Venture Partners and JP Morgan Partners; other investors were Apax Partners Funds and Merlin Biosciences |
Norak Biosciences Inc. | Research Triangle Park, N.C. | 2/6 | $13 | Norak raised $13M in its second round; investors included Noro-Moseley Partners, Mitsui & Co. Venture Partners, Alexandria Real Estate Equities, Koch Enterprises, Intersouth Partners and Aurora Funds |
Panacos Pharmaceuticals Inc. | Gaithersburg, Md. | 2/6 | $5 | Panacos raised $5M through a private placement of Series B preferred stock to Ampersand Ventures and A.M. Pappas & Associates |
Sention Inc. | Providence, R.I. | 2/12 | $13 | Sention announced in February a financing for $13M that was completed in March 2001 |
Target Discovery Inc. | Palo Alto, Calif. | 2/20 | $4.6 | Target Discovery raised more than $4.6M in a Series A financing; Clayton Struve was the largest investor |
Tissue-Informatics Inc. | Pittsburgh | 1/24 | $12.5 | TissueInformatics closed on a $12.5M financing conducted in January (the financing was not included in the January chart); the financing was led by TVM Techno Venture Management, with The Manufacturers Life Insurance Co. as a major financial partner; other investors were InforMax Inc. and Pittsburgh-based Birchmere Ventures and The Future Fund |
Vela Pharmaceuticals Inc. | Lawrenceville, N.J. | 2/19 | $25 | Vela raised $25M in its fourth round of financing led by JP Morgan Partners; other investors were New Enterprise Associates and Venrock Associates |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $28.15M | ||||
Company | Partner (Country) | Amt. (M) | Triggering Event | Details (Date) |
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Angiotech Pharmaceuticals Inc. (Canada; ANPI; TSE:ANP) | Cook Inc. | $2.05 | Milestone payment | The payment was triggered by Cook's filing for CE Mark approval to market the paclitaxel-eluting version of its V-Flex Plus PTX Coronary Stent in the European community for treating restenosis associated with stent implantation (2/8) |
Applied Precision Inc.* | Riverside Partners Inc. | ND | Investment | Riverside made an investment in Applied Precision (2/4) |
Astralis Ltd. (OTC BB:ASTR) | SkyePharma plc (UK) | $12.5 | Milestone payment | Astralis received a $2.5M payment under a stock purchase agreement, the first installment on $10M due after an initial investment of $10M; so far, Astralis has received $12.5M (2/4) |
Cell Genesys Inc. (CEGE) | Japan Tobacco Inc. (Japan) | $6 | Milestone payment | Cell Genesys received a $6M payment following the completion of a multicenter Phase II trial of GVAX lung cancer vaccine (2/5) |
Cetek Corp.* | Millennium Pharmaceuticals Inc. | ND | Milestone payment | Cetek achieved a milestone under its research agreement with Millennium in matching drugs with genomic targets (2/19) |
Crucell NV (the Netherlands; CRXL) | Centocor Inc. (unit of Johnson & Johnson) | $1.5 | Milestone payment | Centocor made a $1.5M payment to Crucell as part of an agreement for the development and commercialization of CD 46-specific human antibody against cancer (2/1) |
Cubist Pharmaceuticals Inc. (CBST) | Novartis Pharma AG (Switzerland) | ND | Milestone payment | Cubist reached its third milestone by delivering another validated target and highthroughput screening assay to be used in anti-infective drug discovery (2/27) |
CytRx Corp. (CYTR) | Merck & Co. Inc. | $1 | Milestone payment | CytRx received a $1M milestone payment pursuant to Merck's license of CytRx's TranzFect technology (2/25) |
D-Pharm Ltd. (Israel)* | Shire Pharmaceuticals Group plc (UK) | ND | Milestone payment | D-Pharm received the first milestone for SPD 421 and its Phase II trial progress (2/28) |
Genome Therapeutics Corp. (GENE) | Schering-Plough Corp. | ND | Milestone payment | Genome Therapeutics reached two milestones in its genomics-based alliance to develop products for the prevention and treatment of asthma, triggering undisclosed payments (2/6) |
HiberGen Ltd. (Ireland)* | Trinity Biotech plc (Ireland) | $3.1 | Investment | Trinity said it would invest $3.1M in HiberGen, raising its stake in the company from 43% to 66% (2/13) |
Karo Bio USA Inc. (subsidiary of Karo Bio AB; Sweden; SSE:KARO) | GPC Biotech AG (Germany) | ND | Milestone payment | Karo Bio received milestone payments for the completion of 10 BioKey molecular probe assays (2/6) |
Microbiotix Inc.* | Shire BioChem Inc. (subsidiary of Shire Pharmaceuticals Group plc; UK) | ND | Milestone payment | Microbiotix achieved a milestone in its collaboration with Shire for the identification of a lead antibiotic compound having bacterial DNA polymerase inhibitory activity and in vivo efficacy (2/12) |
Paradigm Genetics Inc. (PDGM) | Bayer AG (Germany) | ND | Milestone payment | Paradigm received an undisclosed milestone payment for the delivery of several highthroughput screening assays for the identification of herbicides (2/6) |
Syrrx Inc.* | Cubist Pharmaceuticals Inc. | ND | Milestone payment | Syrrx received its first milestone payment relating to its anti-infective drug discovery collaboration (2/13) |
Titan Pharmaceuticals Inc. (AMEX:TTP) | Schering AG (Germany) | $2 | Milestone payment | Titan received the payment following the completion of Titan's Phase I/II study for Spheramine, a cell therapy treatment for Parkinson's disease (2/21) |
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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 | ||||
AMEX = American Stock Exchange; OTC BB = Over the Counter Bulletin Board; SSE = Stockholm Stock Exchange; TSE = Toronto Stock Exchange | ||||
