I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $366.14M |
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Company | Location | Date | Amt. (M) | Details |
ActivX | La Jolla, Calif. | 7/10 | $20 | ActivX completed a $20M second round of funding; investors included Frazier & Co., Pro-Quest Investments, Oxford Bioscience Partners, Vulcan Ventures, CIT Venture Capital and Novo A/S |
Adaptive | London | 7/25** | #0.5 (US$0.71) | Adaptive Screening raised US$0.71M in seed funding from Generics Asset Management |
Affymax Inc. | Palo Alto, Calif. | 7/30 | $51 | Affymax, which is being spun out by Glaxo-SmithKline plc, received a $51M investment led by Patricof & Co.; other investors were The Sprout Group, MPM Asset Management and Apax |
BioVex Ltd. | London | 7/30 | #10 (US$14.2) | BioVex completed a private placement led by Technomark Medical Ventures; other investors were The Merlin Biosciences Fund LP, Westdeutsche Landesbank Girozentrale and Gene-Chem Management |
Cognetix Inc. | Salt Lake City | 7/31 | $17 | Cognetix raised $17M in a second-round financing led by MDS Ventures Pacific Inc.; other investors were AIG Global Investment Corp., AM Pappas and Associates, Royal Bank Capital Partners and Zesiger Capital Group |
Critical | Cambridge, Mass. | 7/17 | $10 | Critical Therapeutics raised $10M in its Series A round, which was co-led by MPM Capital and Healthcare Ventures |
De Novo | Cambridge, UK | 7/26 | #16.75 (US$23.93) | De Novo completed a second round of funding from a group of investors led by Merlin Biosciences Ltd. |
EluSys | Pine Brook, N.J. | 7/17 | $17 | EluSys closed a $17M Series C preferred stock private placement led by Invesco Private Capital Inc.; other investors were Legg Mason's Emerald Investment Partners Fund, Eagle Advisors, Essex Woodlands Healthcare Ventures and Crescendo Ventures |
Endocyte Inc. | West Lafayette, Ind. | 7/16 | $7.6 | Endocyte secured $7.6M in equity investments from Sanderling Venture Partners, Cincinnati Financial Corp. and American Bailey Ventures |
Inpharmatica | London | 7/3 | #31.3 (US$44) | Inpharmatica raised US$44M in its second round of financing, which was led by Dresdner Kleinwort Capital; other investors were Abingworth Management, Advent Venture Partners, Gilde Investment and Vertex Management |
Integrative | Toronto | 7/31 | $25 | Integrative raised $25M in its second round of financing; investors included Aurora, Bruker AXS, Bruker Daltonics, Lombard Odier Immunology Fund, Genesys Capital Partners Inc. and HBM BioVentures |
Ipsogen | Marseille, | 7/18** | EUR4.5 (US$3.9) | Ipsogen completed a second funding round, raising US$3.9M from a group of venture capital funds |
MetaProbe | San Diego | 7/5 | $5 | MetaProbe closed a Series A financing that grossed almost $5M; primary investors were IngleWood Ventures, Research Corporation Technologies and Scope Industries |
MetriGenix | Gaithersburg, Md. | 7/19 | $15 | MetriGenix, a spin-off of Gene Logic Inc., raised $15M in its first financing; investors included Oxford Bioscience Partners, Burrill Biotechnology Capital Fund LP, Infineon Ventures GmbH and GE Equity |
Morphochem | Munich, Germany | 7/19 | EUR15 (US$13) | Morphochem raised US$13M in its fourth private financing round led by Life Sciences Partners |
Nereus | San Diego | 7/30 | $23.6 | Nereus raised $23.6M in its second round of financing led by Pacific Venture Group; other investors were Novartis Bioventure Fund, China Development Industrial Bank, Blue Dot Capital, Lotus Biosciences Ventures and Swissfirst |
NewBiotics | San Diego | 7/26 | $11 | NewBiotics raised $11M in its third round of financing led by GeneChem Therapeutics Venture Fund; other investors were F.A.T. Chemical Ltd., Cheng Xin Technology Development Corp. and BioVeda Capital Pte. Ltd., as well as IngleWood Ventures, Life Science Partners, HMCH Ventures and Timkin Trust, among other investors |
Prolinx Inc. | Bothell, Wash. | 7/17 | $16.8 | Prolinx raised $16.8M in a private preferred stock offering; investors included Stephens Group, Wheatley Partners, Tullis-Dickerson & Co. Inc., BA Venture Partners, Axiom Venture Partners, Technology Funding, JD Javelin Capital Fund LP, MDS Ventures Pacific Inc. and Sofinnova Ventures Inc. |
Signature | Hayward, Calif. | 7/9 | $43 | Signature raised $43M in its fourth round of financing led by SG Capital Partners; other investors were Prospect Venture Partners LP, Atlas Ventures, Abingworth Management Ltd., CIBC Capital Partners, Coral Ventures, Vulcan Ventures Inc., MDS Capital Corp., China Development Industrial Bank, Tallwood Venture Capital, Lehman Brothers, Lotus Bioscience Ventures Ltd. and IRR |
Trophos | Marseille, France | 8/1** | EUR5 (US$4.4) | Trophos raised US$4.4M in its first funding round led by Societe Generale Asset Management and Jet Innovation; other investors were Sofipaca and Sofimac, as well as private investors |
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE | ||||
Company | Partner | Amt. | Triggering | Details (Date) |
Abgenix Inc. | Amgen Inc. (AMGN) | ND | Milestone | Abgenix advanced a fully human antibody into clinical trials, triggering the payment (7/11) |
Corixa Corp. | Japan Tobacco Inc. (Japan) | $1 | Milestone | Corixa received a $1M milestone payment for Japan Tobacco's selection of a Corixa antigen for further development (7/31) |
Exelixis Inc. | Bayer AG (Germany) | ND | Milestone payment | Exelixis' joint venture with Bayer, Genoptera LLC, delivered insecticide targets to Bayer, triggering an undisclosed payment (7/24) |
ImClone | Merck KGaA (Germany) | $2 | Milestone payment | ImClone achieved a manufacturing-related milestone under its 1998 agreement with Merck (7/16) |
Introgen | Aventis Pharma AG (Germany) | $25 | Investment | Introgen received $25M from Aventis through the purchase of non-voting Introgen preferred stock, convertible into common stock (7/10) |
Ixion | Questcor LLC (subsidiary of Q-Med AB; Sweden) | $3.4 | Equity investment | Ixion received the final installment from Questcor in connection with a July 2000 agreement to purchase 3.9M shares of Ixion common stock (7/31) |
Lexicon | Bristol-Myers Squibb Co. | ND | Milestone payment | Lexicon delivered the third installment of the LexVision database containing in vivo mammalian gene function information, triggering a payment from Bristol-Myers (7/24) |
MorphoSys | GPC Biotech AG (Germany; Neuer Markt:GPC) | ND | Milestone payment | MorphoSys earned a milestone in its antibody program with GPC (7/19) |
Novavax Inc. | King Pharmaceuticals Inc. | $2.5 | Milestone payment | Novavax earned the milestone payment for submitting an NDA for Estrasorb (7/2) |
Pharmacopeia | Otsuka Pharmaceutical Factory Inc. (Japan) | ND | Milestone payment | Pharmacopeia identified lead compounds in its drug discovery collaboration with Otsuka, triggering the milestone payment (7/31) |
Synsorb | MDS Proteomics Inc. | ND | Milestone payment | Synsorb received a milestone payment relating to the sale of Synsorb's former subsidiary, INH Technologies Inc. (7/11) |
Notes: |
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# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
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* Denotes privately held company. |
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** Denotes the date the item ran in BioWorld International. |
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ND = Not disclosed |
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NDA = New Drug Application |
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TSE = Toronto Stock Exchange |