I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $318.69M

Company

Location

Date

Amt. (M)

Details

Acorda Therapeutics Inc.

Hawthorne, N.Y.

1/9

$33.7

Acorda raised $33.7M in a Series I financing led by Forward Ventures and including previous investors, as well as Swiss Life Private Equity Partners, Novartis BioVenture Fund, China Development Industrial Bank, Royal Bank Capital Partners, Bay Star Capital and Endpoint Late Stage Fund LP

Avidex Ltd.

Oxford, England

1/16

£10 (US$14.7)

Avidex completed a US$14.7M funding round led by Advent Venture Partners; other investors included Quester Capital Management on behalf of Oxford College's Fund and the Oxford Technology Venture Capital Trust plc

BioMicro Systems Inc.

Salt Lake City

1/17

$1.5

BioMicro completed additional private placements of $1.5M, completing an initial round of financing totaling $4.5M

Cambridge Drug Discovery Ltd.

Cambridge, UK

1/11

£7.5 (US$11.26)

Cambridge raised US$11.26M through a private placement led by Friends, Ivory & Sime, along with ABN AMRO and Mitsubishi Corp.

EmerGen Inc.

Salt Lake City

1/5

$15

EmerGen raised $15M in its initial funding round led by Oxford Bioscience Partners and J.P. Morgan Partners; investors included Pacific Rim Ventures and vSpring and the Wasatch Venture Fund

EpiCept Corp.

Englewood Cliffs, N.J.

1/12

$13.4

EpiCept closed a $13.4M Series C private placement led by Merlin Biosciences; other investors were Gold-Zack AG, Bank Vontobel, Techno Venture Management, Alpinvest International BV and Kredietrust Luxembourg

Helicon Therapeutics Inc.

Uniondale, N.Y.

1/10

$6

Helicon raised $6M in its second round led by Burton Advisors Ltd.

IDgene Pharmaceuticals Ltd.

Jerusalem

1/31**

$7.65

IDgene raised $7.65M in its second financing round led by Apax Partners and Israel Seed Partners

InfiMed Therapeutics Inc.

Cambridge, Mass.

1/22

$15

InfiMed raised $15M in a Series B financing led by EGS Healthcare Capital Partners; other investors were Prism Ventures and Collinson, Howe & Lennox

Intercell Biomedical Research & Development AG

Vienna, Austria

1/16

EUR27 (US$25.4)

Intercell completed a US$25.4M financing led by Apax Partners Funds, along with TVM TechnoVenture Management, Nomura International plc, GO Equity GmbH, Sal. Oppenheim Jr. & Cie and Alpinvest NV

NeoGenesis Inc.

Cambridge, Mass.

1/8

$23

This is the company's fourth round; lead investors were OrbiMed Advisors LLC, Ft. Washington Private Equity Investors Inc., Essex Street Associates and Valentine Partners

NeuroMed Technologies Inc.

Vancouver,

British Columbia

1/24

C$17 (US$11.23)

NeuroMed completed its second round of equity financing; investors included GrowthWorks Capital, MDS Capital, Royal Bank Capital Partners, Trian Equities and Future Fund Capital

Oxxon Pharmaccines Ltd.

Oxford, England

1/2

£4.7 (US$7.15)

Oxxon closed a US$7.15M private funding round; investors included MVM's UK Medical Ventures Fund No. 1 and Neomed Innovations, in addition to new investors

Panacos Pharmaceuticals Inc.

Gaithersburg, Md.

1/18

$3

Panacos completed a Series B financings, including a $3M investment by A.M. Pappas & Associates

Phylos Inc.

Lexington, Mass.

1/4

$25.1

Phylos completed a $25.1M round of private equity financing led by Three Arch Partners with additional funding from Sprout Group, Lone Pine Capital, Invemed Associates, as well as reinvestment from existing shareholders

Protiva Biotherapeutics Inc.

Vancouver, British Columbia

1/24

C$1.5 (US$1)

Protiva raised US$1M in seed financing; the company is a spin-off of Inex Pharmaceuticals Corp.

Raven Biotechnologies Inc.

San Carlos, Calif.

1/9

$20.6

Raven raised $20.6M in a Series B financing led by U.S. Venture Partners and including Hambrecht and Quist Capital Management, CMEA Ventures, Viridian Capital and a number of individual investors

Syrrx Inc.

San Diego

1/8

$54

The financing was led by Lombard Odier and Cie; it included Bay City Capital, Chemicals & Materials Enterprise Associates, CIBC World Markets, Cooper Hill, Invesco Global Health Science Fund, Jaspers MPM Asset Management, Versant Ventures and Wanger Asset Management LP

Triad Therapeutics Inc.

San Diego

1/4

$30

Triad raised $30M in a second private round of financing led by CSFB Private Equity; other investors included the Invus Group, 511 Equities, Yasuda Development, Skyline Ventures, H&Q Life Science Investors, Mediphase Venture Partners, J&J Development Corp., GeneChem Technologies and Lombard Odier & Cie

II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $63.5M

Company (Symbol)#

Partner (Country)

Amt. (M)

Triggering Event

Details (Date)

Aixlie Pharmaceuticals Inc.*

Epsilon Venture Fund Inc.

ND

Investment

Aixlie received an undisclosed investment from Epsilon (1/22)

Arena Pharmaceuticals Inc. (ARNA)

Eli Lilly & Co.

$1.5

Milestone payment

Arena received a $1.5M milestone payment from Lilly for the acceptance of CART-activated versions of six orphan G protein-coupled receptors (1/15)

Aviron Inc. (AVIR)

American Home Products Corp.

$10

Advance payment

AHP gave $10M to Aviron to support commercial manufacturing and inventory buildup of FluMist (1/9)

Cell Genesys Inc. (CEGE)

Japan Tobacco Inc. (Japan)

$6

Milestone payment

Cell Genesys received $6M following the completion of its first Phase II trial of GVAX prostate cancer vaccine (1/4)

Cubist Pharmaceuticals Inc. (CBST)

Novartis Pharma AG (Switzerland)

ND

Milestone payment

Cubist achieved the second milestone in its three-year collaboration and received an undisclosed milestone payment (1/23)

Enzon Inc. (ENZN)

Schering-Plough Corp.

$2

Milestone payment

Enzon received a final $2M milestone payment with the FDA's approval of PEG-Intron (1/22)

ImaRx Therapeutics Inc.*

Elan Corp. plc (Ireland)

ND

Equity investment

Elan made an equity investment in ImaRx as part of their joint venture agreement to develop and commercialize HydroPlex (1/31)

Incara Pharmaceuticals Corp. (INCR)

Elan Corp. plc (Ireland)

$4

Equity investment

Elan purchased $4M in equity in Incara as part of a collaboration to develop OP2000 (1/29)

Ligand Pharmaceuticals Inc. (LGND)

American Home Products Corp.

ND

Milestone payment

Wyeth-Ayerst Laboratories elected to continue development of TSE-424 for osteoporosis, triggering the milestone payment (1/9)

Meditech Pharmaceuticals Inc. (OTC BB:MDCH)

Immune Network Ltd. (Canada)

ND

Equity purchase

Immune Network acquired about 6.7M shares of restricted common stock upon exercise of an option, giving it 10M shares total of Meditech (1/31)

MDS Proteomics (spin-out of MDS Inc.; Canada; NYSE:MDZ)

IBM

ND

Equity investment

IBM made an equity investment in MDS as part of a new collaboration to establish a public database (1/30)

Myriad Genetics Inc. (MYGN)

Torrey Mesa Research Institute (unit of Syngenta)

$3

Cash bonus payment

Myriad received the cash bonus for completing the DNA sequencing of the entire rice genome six months ahead of schedule and under budget (1/26)

NicOx SA (France; Nouveau Marche: NICOX)

AstraZeneca plc (UK)

$3

Milestone payment

NicOx achieved the milestone with the initiation of Phase II trials with HCT-3012 (1/24)

Paratek Pharmaceuticals Inc.*

GlaxoSmithKline plc

ND

Milestone payment

Paratek achieved a milestone, following the submission to GlaxoSmithKline of a set of lead compounds with potential for use against bacteria that are resistant to existing antibacterial products; the milestone triggered an additional equity investment in Paratek and increased research support by GlaxoSmithKline (1/16)

Phytera Inc.*

Eli Lilly & Co.

ND

Milestone payment

Phytera achieved a research milestone in its 1998 antifungal drug discovery collaboration with Lilly (1/23)

SkyePharma plc (UK; SKYE)

Paul Capital Partners

$30

Equity investment

SkyePharma raised US$30M in private equity funding from Paul Capital Partners LP (1/17**)

Versicor Inc. (VERS)

Novartis Pharma AG (Switzerland)

ND

Milestone payment

Versicor delivered an assay package to identify novel antibacterial agents to Novartis, triggering the payment (1/10)

V.I. Technologies Inc. (VITX)

Pall Corp.

$4

Milestone payment

V.I. received a $4M equity payment related to the enrollment of the first subject in the Phase II trial of the Inactine Pathogen Inactivation product for red blood cells (1/4)

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