I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $425.55M |
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Company | Location | Date | Amt. (M) | Details |
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Active Pass Pharmaceuticals Inc. | Vancouver, British Columbia | 4/30 | C$7.7 (US$5.01) | Active raised US$5.01M; investors included GrowthWorks Capital, RT Capital, StrategicNova Canadian Technology Fund and the Western Seed Investment Fund |
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Ardana Bioscience Ltd. | Edinburgh, Scotland | 4/18** | #2 (US$2.87) | Ardana raised US$2.87M in funding from UK Medical Ventures Fund |
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Cellular Genomics Inc. | Branford, Conn. | 4/5 | $22 | Cellular Genomics raised $22M in its second financing led by MPM Capital, AGTC Funds Inc. and Vector Management Fund; other investors were CHL Medical Partners and Connecticut Innovations Inc. |
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De Novo Pharmaceuticals Ltd. | Cambridge, UK | 4/4 | #950,000 (US$1.36) | De Novo received its second tranche of funding totaling US$1.36M |
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DeveloGen AG | Gottingen, Germany | 4/18 | EUR40 (US$39.9) | DeveloGen raised US$39.9M in a private financing led by Dresdner Kleinwort Capital |
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DrugAbuse Sciences Inc. | Los Altos, Calif. and Paris | 4/5 | $24 | DrugAbuse Sciences raised $24M in a financing led by Canaan Partners; other investors were 3i and Nomura Securities International plc; UBS Warburg LLC acted as sole placement agent and adviser |
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Epicyte Pharmaceutical Inc. | San Diego | 4/16 | $16 | Epicyte raised $16M in its Series D financing led by Johnson & Johnson Development Corp.; other investors included Tullis-Dickerson & Co., CMEA Life Sciences, Dow Chemical Co. and Milepost Ventures LP |
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Genteric Inc. | Alameda, Calif. | 4/26 | $22 | Genteric raised $22M in a Series B financing led by new investor MPM Capital and China Development Industrial Bank; other investors were Sanderling Ventures, Alta Partners and MedVenture Associates |
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Graffinity Pharmaceutical Design | Heidelberg, Germany | 4/18 | EUR30.6 (US$26.72) | Graffinity raised US$26.72M in a financing led by Merlin Biosciences Fund |
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LifeSpan BioSciences Inc. | Seattle | 4/16 | $19 | LifeSpan raised $19M in a Series C financing led by SAIC Venture Capital Corp.; other investors included current shareholders, unnamed new private investors, and equity4life |
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Lorantis Ltd. | London | 4/20 | #11.5 (US$16.5) | Lorantis raised US$16.5M in the second-round financing led by JP Morgan Partners |
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Micromet AG | Martinsried, Germany | 4/4** | EUR40 (US$35.2) | Micromet raised US$35.2M in its fourth financing round, led by Advent Venture Partners; other investors included funds advised by Medical Strategy, the Wellcome Trust, the International Biotechnology Trust, Atlas Venture, Schroder Ventures and Abingworth |
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Novazyme Pharmaceuticals Inc. | Oklahoma City | 4/18 | $16 | Novazyme raised $16M in a Series B financing; investors included the Perseus-Soros Biopharmaceutical Fund, HealthCare Ventures and Catalyst Health and Technology Partners, as well as Morgan Stanley Dean Witter Equity Funding Inc. |
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Perlegen Sciences Inc. | Santa Clara, Calif. | 4/3 | $100 | Perlegen raised $100M in a Series A financing |
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Protein Polymer Technologies Inc. | San Diego | 4/2 | $1.9 | Protein Polymer received about $1.9M from the exercise of warrants and the issuance of convertible notes; the warrants were issued with a Series G preferred equity financing and were convertible into common stock at 50 cents per share |
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U.S. Genomics Inc. | Woburn, Mass. | 4/4 | $17 | U.S. Genomics completed a $17M Series B private placement led by HealthCare Ventures; other investors included CB Health Ventures LLC, Still River Fund and several private investors |
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Vectura Ltd. | Bath, England | 5/2** | #10.55 (US$15.09) | Vectura completed a second round funding, raising US$15.09M; investors included Friends Ivory & Sime, as well as Merlin funds |
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Xenon Genetics Inc. | Vancouver, British Columbia | 4/4 | $45 | Xenon raised $45M in a private placement; JP Morgan H&Q acted as placement agent; lead investors were Fidelity Management & Research Co. and Invesco Private Capital; other investors included JP Morgan Partners, Novo A/S and Pfizer Inc., as well as InterWest Partners, Growth-Works Capital and Ventures West Management |
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II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $31.25M |
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Company (Symbol)#* | Partner (Country) | Amt. (M) | Triggering Event | Details (Date) |
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Adolor Corp. (ADLR) | GlaxoSmithKline plc (UK) | ND | Milestone payment | Adolor received an undisclosed milestone payment relating to the 1999 agreement for the development and commercial rights to topical formulations of ADL 2-1294 (4/5) |
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AnorMED Inc. (Canada; TSE:AOM) | AstraZeneca plc (UK) | $4 | Milestone payment | AnorMED received a $4M milestone payment for the initiation of a Phase III trial of ZD0473 (4/5) |
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Aradigm Corp. (ARDM) | Novo Nordisk A/S (Denmark) | ND | Milestone payment | Aradigm received a payment in connection with clinical achievements related to the development of the AERx Diabetes Management System (4/5) |
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Axys Pharmaceuticals Inc. (AXPH) | Aventis SA(Germany) | ND | Milestone payment | Axys received a milestone payment as part of its deal focused on cathepsin S inhibitors (4/30) |
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Cubist Pharmaceuticals Inc. (CBST) | Gilead Sciences Inc. | $1.25 | Milestone payment | Gilead paid Cubist $1.25M for meeting the primary endpoint of a Phase III trial of Cidecin to treat skin and soft tissue infection (4/10) |
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Diversys Ltd. (UK)* | MVM Ltd. (UK) and Peptech Ltd. (Australia) | $10 | Investment | MVM invested $3M in Diversys, while Peptech invested $7M (4/5) |
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ImClone Systems Inc. (IMCL) | Merck KGaA (Germany) | $0.5 | Milestone payment | ImClone achieved a patient enrollment milestone for the cancer vaccine BEC2 (4/24) |
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Lexicon Genetics Inc. (LEXG) | Bristol-Myers Squibb Co. | ND | Milestone payment | Lexicon received a payment for delivering the second installment of the LexVision database (4/18) |
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Ligand Pharmaceuticals Inc. (LGND) | Elan Pharma International Ltd. (affiliate of Elan Corp. plc; Ireland) | $3.5 | Milestone payment | Ligand received the payment under terms of the marketing and distribution agreement for Targretin capsules and gel (4/3) |
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NaPro BioTherapeutics Inc. (NPRO) | Abbott Laboratories Inc. | $5 | Milestone payment | NaPro received a $5M milestone payment under a licensing, development and marketing agreement (4/24) |
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Oasis Biosciences Inc.* | GeneScan Europe AG (Germany) | $6 | Equity investment | GeneScan acquired an equity stake in Oasis in a transaction worth up to $6M, based on milestones Oasis reached in building up an antisense library (4/18**) |
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Protherics plc (UK; LSE:PTI) | Eli Lilly and Co. | $1 | Milestone payment | Protherics received a $1M milestone payment for progressing to the next stage of its anti-thrombotic research collaboration (4/26) |
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SIGA Technologies Inc. (SIGA) | American Home | ND | Milestone payment Products Corp. (AHP) | SIGA achieved a milestone in its collaboration with Wyeth-Ayerst Laboratories, a unit of AHP, to identify and develop anti-infective agents targeting Gram-positive bacterial infections (4/11) |
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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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LSE = London Stock Exchange; TSE = Toronto Stock Exchange |
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