I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $193M

Company

Location

Date

Amt. (M)

Details


Advancis
Pharmaceu-
tical Corp.

Gaithersburg, Md.

11/16

$15

Advancis raised $15M in a Series D round led by Healthcare Ventures; other investors were Rho Ventures, Johnson & Johnson Development Corp. and Alexandria Real Estate Equities; also, Middlegate Securities joined the round

Aegis Analytical Corp.

Lafayette, Colo.

11/19

$14.5

Aegis raised $14.5M in its second round of financing led by Merck Capital Ventures LLC

Ambit Bio-
sciences
Corp.

San Diego

11/7

$10

Ambit raised $10M in a Series B round of financing led by Forward Ventures; other investors were Perseus-Soros Biopharmaceutical Fund LP, Avalon Ventures and BakerTisch Investments

Auxilium
Inc.

East Norriton, Pa.

11/8

$28

Auxilium raised $28M in a Series B equity financing led by Perseus-Soros Biopharmaceutical Fund LP

Bioheart
Inc.

Fort Lauderdale, Fla.

11/20

$5

Bioheart raised $5M in a financing; investors were Getz Medical, Ascent Medical Technology Venture Capital Fund and Guidant Corp.

Fludigm
Corp.

South San Francisco

11/12

$34

Fludigm raised $34M in a Series C financing; Lehman Brothers led the round, with additional investments from Euclid SR Partners, U.S. Bancorp Piper Jaffray and GE Equity, as well as prior investors, including Versant Ventures and InterWest Partners

Glycominds
Ltd.

Maccabim, Israel

11/6

$7.1

Glycominds completed a $7.1M private placement led by Israel's Millennium Materials Technologies Fund LP; investors included other venture capital funds as well as Germany's Schott Glas

Jerini AG

Berlin

11/13

EUR20
(US
$17.6)

Jerini raised US$17.6M in a Series B round led by TVM Techno Venture Management, 3i and PolyTechnos Funds

Locus
Discovery
Inc.

Blue Bell, Pa.

11/7

$12

Locus raised $12M in the second phase of its $40M third round of preferred stock financing; the first phase was completed in September; Prism Venture Partners made the major investment in the second closing

Lorantis
Ltd.

Cambridge, UK

11/6

#4.7
(US$7)

Lorantis raised US$7M in the final closing of a US$23.5M second-round financing begun in April; new investors The Wellcome Trust and Northern Venture Managers joined existing shareholder Quester in the second closing

MorphoGen
Pharmaceu-
ticals Inc.

San Diego

11/19

$8.5

MorphoGen closed its Series C preferred stock offering, raising $8.5M; AIG Global Investment Corp. led the round, which included Manulife Capital Corp. and Wheatley Medtech Partners

NuGEN
Technol-
ogies Inc.

San Carlos, Calif.

11/30

$10.8

NuGEN raised $10.8M in the Series B round; investors were Tenex Medical Investors, Pequot Ventures, SoftBank LifeScience Ventures, Radius Venture Partners and Band of Angels Fund

Protein
Sciences
Corp.

Meriden, Conn.

11/12

$2

Protein Sciences closed a financing of more than $2M from new and existing investors

Rinat Neuro-
science Corp.

Palo Alto, Calif.

11/6

$17.5

Rinat raised $17.5M in its Series A round; investors were Tularik Inc., Technology Partners, Essex Woodlands Health Ventures, as well as private investors

Scion Pharma-
ceuticals Inc.

Medford, Mass.

11/6

$4

Scion raised $4M in a Series A financing round; lead investor was Oxford Bioscience Partners

II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $35.9M

Company
(Symbol)#

Partner
(Country)

Amt. (M)

Triggering Event

Details (Date)


Ambit BioSciences Corp.*

Medarex Inc. (MEDX)

$1

Equity investment

Medarex made a $1M equity investment in Ambit associated with a collaboration to develop and commercialize monoclonal antibody products (11/19)

DeCode genetics
Inc.
(DCGN)

Roche Ltd. (Switzerland)

ND

Milestone payment

DeCode scientists mapped the first gene with genome-wide significant linkage to rheumatoid arthritis outside the MHC region, resulting in a milestone payment (11/29)

DGI Bio-
Technologies
Inc.*

Novo Nordisk A/S (Denmark)

ND

Milestone payment

DGI received a milestone payment as a result of a collaboration for the discovery of small-molecule mimics for insulin (11/26)

Exelixis Inc.
(EXEL)

Dow AgroSciences LLC (subsidiary of The Dow Chemical Co.)

ND

Milestone payment

Exelixis received milestone payments for identifying four crop protection targets (11/29)

GPC Biotech
AG
(Germany;
FSE:GPC)

Altana AG (Germany)

EUR34.2 (US$30.9)

Equity investment

Altana bought about 1.7M shares of GPC's stock, or 8.3% of the company (11/1)

NPS Pharma-
ceuticals Inc.
(NPSP)

Forest Labora-
tories Inc.

$1

Milestone payment

NPS earned a $1M milestone payment for achieving certain events related to Forest's preclinical work with ALX-0646 for treating migraine (11/1)

NPS Pharma-
ceuticals Inc.
(NPSP)

Janssen Pharma-
ceutica NV (unit of Johnson & Johnson)

ND

Milestone payment

NPS received a milestone payments as a result of the selection of a preclinical compound for further development as a potential treatment for schizophrenia (11/8)

Primecyte
Inc.*

PPD Inc.

ND

Equity investment

PPD made an equity investment in Primecyte (11/27)

Rigel Pharma-
ceuticals Inc.
(RIGL)

Pfizer Inc.

ND

Milestone payment

Rigel received a milestone payment for delivering a validated drug target for allergies and asthma (11/28)

SLIL Bio-
medical
Corp.
*

PPD Inc.

ND

Equity investment

PPD made an equity investment in SLIL (11/27)

Synsorb Bio-
tech Inc.
(Canada; SYBB;
TSE:SYB)

BCY LifeSciences Inc. (Canada)

ND

Milestone payment

Synsorb was granted an additional 200,000 common shares of BCY for Health Canada's approval to begin Phase I trials (11/9)

Tangerine
Technol-
ogies Inc.*

Bluefish Ventures

ND

Follow-on investment

Bluefish invested an undisclosed amount in Tangerine (11/27)

Tularik Inc.
(TLRK)

Eli Lilly & Co.

ND

Milestone payment

Tularik's anti-thrombotic research collaboration progressed to an advanced stage of preclinical development, triggering an undisclosed milestone payment to Tularik (11/7)

Vical Inc.
(VICL)

Merck & Co. Inc.

$3

Milestone payment

Vical received a $3M payment from Merck; Merck began human testing of a prime-boost vaccine regimen that employs Vical's naked DNA nonviral gene delivery technology to combat HIV (11/5)


Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

* Denotes privately held company.

ND = Not disclosed

FSE = Frankfurt Stock Exchange; TSE = Toronto Stock Exchange