Company Type of Financing Number of Shares, Units or Warrants (M) Amount Raised (M) Investors; Placement Agents; Details(Date)
JANUARY
Advanced Tissue Sciences Inc. (ATIS) Exercise of warrants 1.75S $7 The State of Wisconsin Investment Board exercised warrants to purchase 1.75M shares of common stock at $4 per share; warrants were a component of the 3.75M units sold to the investment board in 11/99 and bring the board s direct ownership to more than 16% (1/31)
Alteon Inc. (OTC BB:ALTN) Sale of net operating loss carryovers $2.60 Alteon received $2.6M from sale of net operating loss carryovers under New Jersey s Technology Business Tax Certificate Transfer program (1/5)
Aphton Corp. (APTH) Exercise of warrants 0.35W $5.50 Aphton received $5.5M through the exercise of 0.35M warrants to purchase Aphton common stock; shares were purchased at an average price of $15.714 per share (1/14)
Aviron (AVIR) Equity financing line Aviron received a commitment for up to $48 million in equity financing from Acqua Wellington Asset Management LLC; funds are available over the course of 12 months at a small discount to market (1/12)
Cubist Pharmaceuticals Inc. (CBST) Private placement of common shares 2.2S $55 Cubist will issue 2.2M common shares at $25 per share in a private placement to new and current shareholders, raising gross proceeds of $55M; Robertson Stephens and Pacific Growth Equities acted as placement agents (1/27)
CuraGen Corp. (CRGN) Private placement of convertible subordinated debentures $125 CuraGen sold $125M in convertible, 6% debentures due 2007 and convertible into shares of CuraGen common stock at $127.655 per share (1/28)
Hemosol Inc. (TSE:HMO) Bought deal for common shares 5.5S C$46.1 (US$31.9) Hemosol raised C$46.1M (US$31.9) through the sale of 5.5M shares at C$8.35 (US$5.79) to a syndicate of underwriters led by Yorkton Securities Inc. (1/25)
IGEN International Inc. (IGEN) Private placement of convertible subordinated debentures $35 IGEN completed a private placement of $35M principal amount of 5% subordinated convertible debentures due 2005; debentures are convertible into IGEN common stock at $31 per share, a 10% premium to the trailing average closing prices for the preceding 25 days; as part of this financing, the company also issued warrants to purchase 0.28M shares of IGEN common stock at the conversion price (1/12)
Inex Pharmaceuticals Corp. (TSE:IEX) R&D loan C$9.3 (US$6.4) Canadian government s Technology Partnerships Canada will finance up to C$9.3M (US$6.4M) of Inex s research and development initiatives for novel anticancer drugs over the next four years; TPC will reimburse Inex for a portion of its R&D expenditures on these drugs, and Inex will repay TPC from any revenues they generate (1/21)
Inex Pharmaceuticals Corp. (TSE:IEX) Bought deal for warrants 2.3W C$20.1 (US$13.9) Inex raised C$20.1M (US$13.9M) through a private placement of 2.3M special warrants at C$8.75 (US$6.1) per warrant; each warrant may be exchanged for 1 common share without additional payment upon clearance of a final prospectus; Yorkton Securities Inc. led the underwriting syndicate, which includes Nesbitt Burns Inc., Goepel McDermid Inc. and RBC Dominion Securities Inc. (1/27)
Interleukin Genetics Inc. (ILGN) Private placement of common stock 0.83S $5 Interleukin Genetics riased $5M through an offering of 0.83M shares of common stock; First Global Technology was the lead investor; Fine Equities acted as placement agent (1/31)
Human Genome Sciences Inc. (HGSI) Facility expansion financing $18 Allfirst Bank and First Union National Bank, with continued support of the state of Maryland, are financing a $17.5M expansion of HGS s process development and manufacturing facility; HGS is leasing the facility under a long-term agreement with the Maryland Economic Development Corporation (1/10)
Interferon Sciences Inc. (OTC BB:IFSC) Sale of net operating loss carryovers $2.30 Interferon Sciences sold $2.3M of New Jersey tax loss carryforwards to Public Service Electric and Gas Company (1/25)
Ligand Pharmaceuticals Inc. (LGND) Sale of assets $10 Ligand sold to CoPharma Inc. assets associated with the contract manufactuirng business of Ligand subsidiary Marathon Biopharmaceuticals Inc. for $10M (1/10)
Millennium Pharmaceuticals Inc. (MLNM) Private placement of convertible subordinated notes $350 Millennium sold $350M of 5.5% convertible subordinated notes due 2007 to qualified institutional buyers; notes are convertible into Millennium common stock at $168.28 per share, a 25% premium over the 1/13 closing price; notes can be redeemed by Millennium any time after 1/15/03 (1/14)
Onyx Pharmaceuticals Inc. (ONXX) Private placement of common stock 2S $18 Onyx sold 2M shares at $9 per share, raising $18M; participants included new investors Alta BioPharma Partners, Domain Associates, and Chase Capital Partners; existing sharholder International Biotechnology Trust plc also participated (1/19)
Oxford BioMedica plc (LSE:OXB) Sale of com mon stock 13.7 5 (US$8.1) Oxford BioMedica issued 13.7M ordinary shares at 38 pence per share to institutional investors (1/17)
SciClone Pharmaceuticals (SCLN) Private placement of common stock and warrants 1S; Warrants for 0.8S $6.10 SciClone raised $6.1M through the sale of 1M shares and warrants to purchase 0.8M shares at $7 per share to its largest insti tutional shareholder, The Brown Simpson Strategic Growth Fund; the warrants, if exercised, cannot be sold at less than $10 per share or until 9 months have passed; H.C. Wainwright & Co. Inc. served as placement agent (1/19)
Synsorb Biotech Inc. (SYBB) Common share bought deal 6.9S C$24.2 (US$16.7) Synsorb raised C$24.2M (US$16.7M) in a commonshare bought deal financing that sold 6.9M shares, including an underwriters overallotment option of 0.9M shares, at C$3.50 (US$2.43) per share; the underwriting syndicate was led by Yorkton Securities Inc. and included Canaccord Capital Corp., Dundee Securities Corp., and Loewen, Ondaatje, McCutcheon Ltd. (1/25)
Trinity Biotech plc (TRIBY) Property sale; private placement of debentures and common stock $6.75 Trinity sold its property in Ireland and entered into a 20-year lease on the premises, for a profit of $1.25M; in a separate transaction, the company raised $5.5M through the sale of a $3.5M debenture with a coupon of 7.5% and $2M of common stock at a 7.5% discount to market (1/6)
United Therapeutics Corp. (UTHR) Private placement of common stock 2.5S $80 Prudential Vector Healthcare Group served as placement agent for the sale of 2.5M shares at $32 per share for gross proceeds of $80M (1/18)
UroGen Corp. (OTC BB:UROG) Private placement of common stock and warrants 6.3S, Warrants for 1.75S $8.20 UroGen raised $8.2M through the sale of 6.3M shares of common stock and warrants for 1.75M shares; Evolution Capital, a subsidiary of the Carson Group, acted as placement agent; investors included The Aries Funds, Emerging Growth Management, Clearwater Funds and Perceptive Life Sciences Fund (1/20)
FEBUARY
American Biogenetic Sciences Inc. (OTC BB: MABA) Private placement of preferred shares $3 Biotechnology Value Fund L.P. and affiliates agreed to invest $3M in Series A preferred stock (2/10)
AMRAD Corp. Ltd. (ASX:AML) Sale of division A$14 (US$8.9) CHEMICON International Inc. agreed to pay A$14M (US$8.9M) for the assets of AMRAD Biotech, the biotechnology reagents division of AMRAD (2/3)
Affymetrix Inc. (AFFX) Private placement of convertible subordinated notes $225 Affymetrix raised $175M in private placement of 4.75% convertible subordinated notes due 2007; notes are convertible into common stock at $321 per share (2/9); exercise of overallotment option raised an additional $50M, for a total of $225M (2/11)
Alkermes Inc. (ALKS) Private placement of convertible subordinated notes $200 Alkermes raised $200M in private placement of 3.75% convertible subordinated notes due 2007; notes are convertible into common stock at $135.50 per share, subject to adjustment in certain circumstances; purchasers have an option to buy up to $50M more in principal amount of the notes (2/16)
Alliance Pharmaceutical Corp. (ALLP) Private placement of subordinated convertible debentures $15 Alliance signed agreements with three shareholders to raise $15M in a placement of subordinated convertible debentures; conversion price is $9.65 per share, subject to certain antidilution provisions; investors have the option to purchase an additional $15M of similar debentures convertible at $12.06 per share for four years; Alliance has certain rights to require the investors to purchase the additional debentures (2/11)
AltaRex Corp. (TSE:AXO) Private placement of special warrants 5.66W C$6 (US$4.14) Each special warrant, priced at C$1.06 (US$0.73), is convertible into one common share of AltaRex stock (or, in certain circumstances, 1.1 common shares) (2/18)
Amylin Pharmaceuticals Inc. (AMLN) Private placement of common stock 8.3S $100 Amylin sold 8.3M shares for $12 per share, representing a discount of about 4% from the prior 20-day average trading price; investors include two funds managed by Capital Research and Management Company (Growth Fund of America and SMALLCAP World Fund), Deerfield Management Company and INVESCO Funds Group; co-lead placement agents were Prudential Vector Healthcare Group, Warburg Dillon Read LLC and Chase H&Q (2/22)
Aurora Biosciences Corp. (ABSC) Private placement of common stock 1.8S $75 Aurora sold 1.8M shares of common stock at $42 per share for gross proceeds of $75M (2/7)
Avanir Pharmaceuticals Inc. (AVNR) Private placement of common stock 2.6S; 0.26W $6 Avanir raised $6M through the sale of 2.6M shares of Class A common stock for $2.28 per share ($0.28 above the closing bid price on 1/31); the company also issued warrants to acquire up to 0.26M shares of common stock at an exercise price of $2.44 per share; financing was conducted through Landenburg Thalmann & Co. Inc. (2/3)
Aviron (AVIR) Private placement under previous registration 0.31S $6 Under previously filed registration form S-3, Aviron sold 0.31M shares to Acqua Wellington Asset Management LLC at $19.36 per share, raising gross proceeds of $6M; Aviron may sell up to $48M in shares to Acqua over 12 months (2/3)
Axys Pharmaceuticals Inc. (AXPH) Private placement of common stock 3.5S $31.50 Axys sold 3.5M shares of common stock at for aggregate gross proceeds of $31.5M; Robertson Stephens acted as placement agent (2/17)
Biomira Inc. (BIOM) Equity line Biomira s equity line of financing was increased to $100M from the $36M announced 8/99; number of shares issuable remains unchanged; share price for each drawdown is based on the average trading price of Biomira s common stock; company may draw down capital in installments of up to $10M (2/1)
BioTransplant Inc. (BTRN) Private placement of common stock 1.2S $9.70 BioTransplant sold 1.2M shares of common stock at approximately $8 per share for proceeds of $9.7M; Evolution Capital, a subsidiary of the Carson Group, acted as placement agent (2/14)
Boston Biomedica Inc. (BBII) Exercise of warrants 0.5S $2.20 The Paradigm Group (Northbrook, Ill.) and related parties exercised warrants to buy up to 0.5M shares of common stock for an aggregate price of $2.2M; Paradigm bought 0.4M shares at $4.25 each and 0.1M shares at $5.25 each; warrants were purchased 8/99, with National Securities Corp. acting as financial adviser and placement agent for Boston Biomedica (2/17)
Cell Genesys Inc. (CEGE) Selling stockholder participation in public offering 0.97S $202.90 Cell Genesys sold 0.97M shares of Abgenix Inc. (ABGX) in Abgenix s public offering at $210 per share, for gross proceeds of $202.9M and net proceeds of $193.7M; the figures take into account the exercise of the underwriters overallotment option for 0.126M of Cell Genesys shares in Abgenix (2/11)
Cell Therapeutics Inc. (CTIC) Private placement of common stock 3.33S $40 Cell Therapeutics sold 3.33M shares at $12 per share for gross proceeds of $40M; investors included Proquest Investments LP, Vulcan Ventures Northwest, Icahn Associates, PIMCO Equity Advisors and Essex Woodlands Healthcare Ventures (2/17)
Celsion Corp. (OTC BB:CELN) Private placement of convertible preferred stock $4.80 Celsion raised $4.8M ($4.2M net) in a private placement of Series A 10% convertible preferred stock; Joseph Charles & Associates Inc. acted as placement agent (2/3)
CeNeS Pharmaceuticals plc (LSE:CEN) Private placement of ordinary shares 2.85S 2.1 (US$3.4) CeNeS raised 2.1M (US$3.4M) through a placement of 2.85M shares at 75p (US$1.21) each (2/18)
Cerus Corp. (CERS) Private placement of common stock 1S $25 Cerus sold 1M shares at $25 per share for gross proceeds of $25M to institutional and other accredited investors, including Baxter Healthcare Corp. (NYSE:BAX); Prudential Vector Healthcare Group assisted Cerus with the financing (2/17)
COR Therapeutics Inc. (CORR) Private placement of convertible subordinated debentures $300 COR sold $250M principal amount of 5% convertible subordinated notes due 2007 (2/18); notes are convertible, subject to adjustment in certain circumstances, into COR common stock at $67.56 per share; exercise of overallotment option raised an additional $50M (2/25)
Corvas International Inc. (CVAS) Exercise of warrants ND $8.70 Corvas received $8.7M when two investors in a 2/96 financing Weiss Peck & Greer and International Biotechnology Trust plc (an investment trust of Rothschild Asset Management) exercised warrants to purchase shares; each warrant allows purchase of 1 share of common stock (2/10)
CuraGen Corp. (CRGN) Private placement of convertible subordinated debentures $25 CuraGen raised an additonal $25M when initial purchasers of 6% convertible sub ordinated debentures due 2007 exercised overallotment option to purchase an additional $25M in notes; debentures are convertible into CuraGen common stock at $127.655 per share, subject to adjustment in certain circumstances; total raised, including overallotments, is $150M (2/14)
Discovery Laboratories Inc. (DSCO) Exercise of warrants ND $2.20 OrbiMed Advisors LLC exercised warrants to buy $2.2M of stock (2/25)
DUSA Pharmaceuticals Inc. (DUSA) Private placement of common stock 1.5S $42.75 DUSA received $42.75M from funds managed by Invesco Funds Group in Denver; Invesco bought 1.5M shares at $28.50 per share, a 5% discount to the 2/16 closing price (2/24)
Epimmune Inc. (EPMN) Private placement of common stock 1.2S $4.30 Epimmune sold 1.2M shares of common stock at $3.60 per share (a 15% discount to the prior 30-day trading average) for gross proceeds of $4.3M; investors were the State of Wisconsin Investment Board and the Biotechnology Value Fund LP (2/15)
Epoch Pharmaceuticals Inc. (OTC BB: EPPH) Private placement of common stock 1.4S $10 Epoch sold 1.4M common shares at $7 per share for a total of $10M; investor group includes Amerindo Investment Advisors, Lone Pine Capital, Oracle Partners, Hilspen Capital Management, Merlin Biomed, Narragansett I LP and Narragansett Offshore Ltd.; First Security Van Kasper assisted in the placement of the shares (2/16)
GenSci Regeneration Sciences Inc. (TSE:GNS) Private placement of special warrants 10.34W C$15 (US$10.3) GenSci raised C$15M (US$10.3M) through a private placement of special warrants; each is exercisable for one common share at C$1.45 (US$1); HSBC Securities Inc. led the placement syndicate, which included Yorkton Securities (2/28)
Human Genome Sciences Inc. (HGSI) Private placement of convertible subordinated debentures $225 HGS sold $150M of 5% convertible subordinated notes due 2007 (1/27); initial in vestors bought another $75M of the notes, which are convertible at $112.50 per share (2/1)
ID Biomedical Corp. (IDBE) Private placement of special warrants 3.6W C$20 (US$13.68) ID Biomedical sold 3.6M special warrants at C$5.50 (US$3.76) each for a total of C$20M (US$13.68M); Dlouhy Investments and Yorkton Securities co-led the placement syndicate, which also included Haywood Securities; each warrant will be exercisable for 1 common share and 0.5 common share purchase warrant; each whole warrant entitles the holder to buy 1 common share at C$6.50 (US$4.45) (2/24)
ImClone Systems Inc. (IMCL) Private placement of convertible subordinated notes $200 ImClone sold $200M of 5.5% convertible subordinated notes due 2005; notes are convertible into common stock at $110.18 per share, subject to adjustment in certain events; purchasers have an option to purchase up to $40M more in principal amount of the notes (2/24)
Immunomedics Inc. (IMMU) Private placement of common stock 2.3S $37.20 Immunomedics sold 2.325M shares at $16 per share for proceeds of $37.2M; placement was managed by Sutro & Co. Inc.
Incyte Pharmaceuticals Inc. (INCY) Private placement of convertible subordinated notes $200 Incyte sold $150M of 5.5% convertible subordinated notes due 2007 (2/1); notes are convert ible into common stock at an initial conversion price of approximately $134.84 per share; exercise of overallotment option raised an additional $50M (2/15)
Incyte Pharmaceuticals Inc. (INCY) Private placement of common stock 2S $422 Incyte sold 2M shares at $211 per share for a total of $422M (2/23)
Inhale Therapeutic Systems Inc. (INHL) Private placement of convertible subordinated notes $230 Inhale sold $200M of 5% convertible subordinated notes due 2007 (2/4); exercise of overallotment option raised an additonal $30M; notes are convertible at $76.71 per share, subject to adjustment in certain circumstances (2/14)
Integra LifeSciences Holdings Corp. (IART) Private placement of convertible preferred stock 0.054S (preferred) $5.40 Investment affiliates of Soros Private Equity Partners LLC agreed to invest $5.4M in Integra by purchasing 0.054M shares of Series C convertible preferred stock (convertible into 0.6M shares of common stock) and warrants to purchase an additional 300,000 shares of common stock at $9 per share (2/17)
Invitrogen Corp. (IVGN) Private placement of convertible subordinated notes $150 Invitrogen raised $150M in private placement of 5.5% convertible subordinated notes due 2007; notes are convertible into Invitrogen common stock at $85.20 per share; initial purchasers have an option to purchase an additional $22.5M of notes for overallotments (2/25)
La Jolla Pharmaceutical Co. (LJPC) Private placement of common stock 4.04S $13.64 La Jolla sold 4.04M shares of common stock at $3.375 per share for proceeds of $13.6M; Pacific Growth Equities Inc. served as placement agent (2/10)
LJL BioSystems Inc. (LJLB) Private placement of common stock 1.76S $19 LJL sold 1.76M shares of common stock at $11 per share to new and current investors, raising a total of $19M; Robertson Stephens served as placement agent (2/2)
Martek Biosciences Corp. (MATK) Private placement of common stock and warrants 0.85S; 0.25W $10.25 Martek raised $10.25M by selling 0.85M shares of common stock at $12.12 per share; investors also received three-year warrants to purchase 0.25M shares of common stock at $14.55 per share, a 20% premium over the common stock price (2/8)
Neoprobe Corp. (OTC BB:NEOP) Sale of equity in another firm ND $1.50 Neoprobe sold equity interest in XTL Biopharmaceuticals Ltd., a privately held Israeli company, for $1.5M; Neoprobe retains options to license certain applications of XTL s technology (2/7)
NeoRx Corp. (NERX) Sale of equity in another firm ND $4 NeoRx raised approximately $4M from the sale of shares in Angiotech Pharmaceuticals Inc. (ANPI); NeoRx received the stock as part of 11/98 licensing agreement under which NeoRx licensed its paclitaxel technology for non-oncology applications to Angiotech (2/9)
Novavax Inc. (AMEX:NOX) Private placement of common stock and warrants 2.8S; 0.7W $11.25 Novavax raised $11.25M through the sale of 2.8M shares at $4 and 0.7M warrants exercisable at $6.75; Jesup & Lamont Securities Corp. managed the placement (2/2)
NPS Pharmaceuticals Inc. (NPSP) Private placement of common stock 3.9S $46.80 NPS raised $46.8M in private placement of 3.9M shares of common stock at $12 per share Prudential Vector Healthcare Group served as placement agent (2/7)
Organogenesis Inc. (AMEX: ORG) Private placement of common stock 0.79S $11 Organogenesis sold 0.79M shares at $14 per share under shelf registration filed 12/99; Gruntal & Co. acted in an agency capacity in oversubscribed initial offering from shelf registration (2/25)
Orphan Medical Inc. (ORPH) Private placement of common stock 1.265S $10.10 Orphan Medical sold 1.265M shares at $8 per share to entities managed or advised by OrbiMed Advisors LLC for a total of $10.1M (2/22)
Orphan Medical Inc. (ORPH) Private placement of common stock 0.1S $1 Orphan raised $1M through the sale of 0.1M shares at $10 each to DG Lux Lacuna Apo BioTech Fund, managed by Medical Strategy (2/25)
OSI Pharmaceuticals Inc. (OSIP) Private placement of common stock 3.325S $56 OSI raised $56M through a private placement of 3.325 shares of common stock at $16.84 per share; Robertson Stephens acted as placement agent; key institutional investors include Janus Healthcare Fund, The SMALLCAP World Fund (managed by Capital Research International), UK-based International Biotechnology Trust (managed by Rothschild Asset Management), and Biotechnology Value Fund; Prudential Vector Healthcare Group and Lazard Freres & Co. served as financial advisers on the transaction (2/25)
Pharmos Corp. (PARS) Private placement of common stock 3S $7.30 Pharmos raised $7.3M by issuing an aggregate total of 3M shares under a 6/99 shelf registration; shares were priced in a range between $2.375 and $2.50 per share (2/10)
PPL Therapeutics plc (LSE:PTH) Facility funding 42 (US$67.2) PPL obtained a funding package to build production facility at an estimated cost of 42M (US$67.2M); funds will be made available through Scottish Enterprise, Royal Bank and other sources (2/22)
Procyon BioPharma Inc. (VSE:PBP) Private placement of common stock ND C$0.5 (US$0.35) Yorkton Securities Inc. exercised its final option to acquire an additional 0.2M common shares; employees, directors and other shareholders also exercised options; proceeds to the company were C$0.5M (US$0.35M) (2/1)
Procyon BioPharma Inc. (VSE:PBP) Private placement of common stock ND C$0.4 (US$0.28) Innovatech du Grand Montreal purchased common shares worth C$0.4M (US$0.28M) (2/10)
Progen Industries Ltd. (PGLAF:ASX: PGL) Private placement of ordinary shares 2.8S A$11 (US$6.8) Progen raised A$11 (US$6.8M) through the sale of 2.8M ordinary shares at A$4 each (US$2.46) (2/25)
Protein Design Labs Inc. (PDLI) Private placement of convertible subordinated notes $150 PDL sold $125M of 5.5% convertible subordinated notes due 2007 (2/10); notes are convertible to PDL common stock at an initial conversion price of approximately $151 per share; exercise of overallotment option brought an additional $25M (2/15)
SangStat Medical Corp. (SANG) Private placement of common stock 0.45S $15 SangStat sold 0.45M shares at $33.25 per share to an institutional investor, raising $15M; price per share was 2/14 closing price (2/15)
Titan Pharmaceuticals Inc. (AMEX:TTP) Private placement of common stock 1.2S $41.40 Titan sold 1.2M shares at $34.50 per share for a total of $41.4M (2/25)
Urogen Corp. (OTC BB: UROG) Private placement of common stock 2S $17 UroGen raised $17M through the sale of 2M shares at $8.50 per share to the Aries Funds (2/24)
Vasogen Inc. (TSE:VAS) Private placement of special warrants 1.6W C$14.4 (US$9.96) Vasogen sold 1.6M special warrants at C$9 (US$6.22), raising C$14.4M (US$9.96M); each warrant can be exchanged into one common share for no additional consideration (2/9)
ViroPharma Inc. (VPHM) Private placement of convertible subordinated notes $150 ViroPharma sold $150M of convertible 6% subordinated notes due 2007; notes are convertible into ViroPharma common stock at $109.15 per share, subject to certain adjustments; initial purchasers have an option to purchase up to an additional $30M in principal amount of notes (2/25)
Vysis Inc. (VYSI) Sale of subsidiary $1.20 Vysis sold its French subsidiary, Vysis Sarl, to UK-based Applied Genetic Services Ltd.; the transaction is expected to provide Vysis with $1.2M in cash (2/8)
XOMA Ltd. (XOMA) Private placement of common stock 6.1S $30.70 XOMA sold 6.1M shares at approximately $5 per share for gross proceeds of $30.7M; Arnhold and S. Beichroeder Inc. and Sutro & Co. Inc. acted as placement agents (2/14)
MARCH
Aastrom Biosciences Inc. (ASTM) Private placement of units 2.26U $6 Aastrom raised $6M through the sale to a single investor of 2.26M units, each of which consists of one share of common stock and a three-year warrant to purchase one-half of one share of common stock at an exercise price of $3.70; full exercise of the warrants would raise an additional $4.2M (3/2)
Alexion Pharmaceuticals Inc. (ALXN) Private placement of convertible subordinated notes -- $120 Alexion raised $120M through the placement of 5.75% convertible subordinated notes due 3/15/07; notes are convertible to Alexion common stock at $106.43 per share (3/3)
AltaRex Corp. (TSE:AXO) Exercise of stock options 1.96S C$0.98 (US$0.67) National Bank Financial Inc. and HSBC James Capel Canada Inc. exercised all their compensation options to acquire 1.96M common shares of AltaRex; the options were issued mid-1999 as partial compensation for services provided to the company in a public offering; net proceeds to the company total $0.98M (US$0.67M) (3/9)
Antex Biologics Inc. (OTC BB: ANTX) Private placement of common stock and warrants 23.2U $15.30 Antex netted $15.1M in a self-managed placement of common stock and warrants; the company sold 18.7M "A" units and 4.5M "B" units, in each case at a price of $0.66 per unit; each A unit consists of one share of common stock and one Class A warrant, which has a five-year term and is exercisable immediately for purchase of one share of common stock at $1.50 per share; each B unit consists of 1/100 share of Series A convertible preferred stock and one Class B warrant; beginning one year following the issue date, each 1/100 share of preferred stock is convertible into one share of common stock; Class B warrants are identical to Class A warrants except they do not become exercisable until until one year after issuance (3/16)
Aquila Biopharmaceuticals Inc. (AQLA) Private placement of common stock 0.5S $3.03 Aquila raised $3.03M in a self-directed private placement of 0.5M shares of common stock with the State of Wisconsin Investment Board (3/23)
AutoImmune Inc. (AIMM) Sale of patent rights $7 A subsidiary of Elan Corp. plc (Ireland; NYSE: ELN) purchased all of AutoImmune's rights to a group of patent applications related to treatment of Alzheimer's disease; AutoImmune will receive up to $7M in cash through a combination of up-front fees and contingent payments over three years; when those payments are made, the buyer will receive warrants to purchase up to 0.75M shares of AutoImmune stock at the market price when the warrants were issued (3/21)
Avax Technologies Inc. (AVXT) Private placement of common stock and warrants 2.26S and warrants for 0.23S $25.10 Avax sold 2.26M shares of common stock at $11.125 per share and warrants to purchase an additional 0.23M shares of common stock at $12.79 per share or 115% of the offering price; Gruntal & Co. LLC acted as placement agent (3/13)
Axonyx Inc. (OTC BB: AXYX) Private placement of units 188U $4.70 Axonyx sold 188 units at $25,000 each to raise $4.7M; each unit consists of 4,000 shares of restricted common stock and 2,000 five-year warrants exercisable at $11 (3/1)
BioChem Pharma Inc. (BCHE) Divesture of division $54 BioChem sold its diagnostics division, BioChem ImmunoSystems Inc., to a minority shareholder and management group; BioChem received a $54M debenture to be paid out of future cash flows (3/15)
Biomira Inc. (BIOM) Drawdown of equity line of financing $29 Biomira issued $29M worth of new stock; terms of 2/99 financing agreement allowed for tranches of $10M, for up to $100M; the underwriter agreed to let Biomira take advantage of a strong stock price to drawn down a larger amount (3/17)
Cel-Sci Corp. (AMEX:CVM) Private placement of common stock $7.70 Cel-Sci sold $7M worth of stock to two institutional investors (3/16), along with $0.7M to a director (3/24)
Celsion Corp. (OTC BB: CELN) Exercise of warrants 5.28S $5 Holders of Celsion's Series 700 and 800 warrants exercised warrants in response to Celsion's call for redemption; Series 700 warrant holders bought 2.63M shares at $1 each and Series 800 warrant holders bought 2.65M shares at $0.90 each (3/15)
CV Therapeutics Inc. (CVTX) Private placement of convertible subordinated notes $196.25 CV Therapeutics sold $175M worth of 4.75% convertible subordinated notes due 3/7/07; the notes are convertible into shares of CV common stock at $63.84 per share, subject to adjustment in certain circumstances (3/2); initial purchasers exercised overallotment option for $21.25M worth of additional notes (3/16)
Cytoclonal Pharmaceutics Inc. (CYPH) Exercise of warrants 1.94S $12.60 About 97% of Class C warrants were redeemed, with holders exercising each warrant to buy one share of common stock and one Class D warrant for a total of $6.50; each Class D warrant is exercisable for one share of common stock at $8.75; the Class D warrants expire 11/2/00 (3/13)
Demegen Inc. (OTC BB: DBOT) Private placement of restricted shares of common stock and warrants 5.4S and warrants for 5.4S $2.70 Demegen sold 5.4M restricted shares of common stock and warrants to purchase 5.4M common shares (3/17)
DiagnoCure Inc. (TSE:CUR) Private placement of special warrants 1.25W $5 DiagnoCure sold 1.25M special warrants at $4 each for a total of $5M; each special warrant is exchangeable for one common share without additional payment (3/16)
Discovery Laboratories Inc. (DSCO) Private placement of common stock and warrants 2.8S and 0.57W $18.50 Discovery raised approximately $18.5M through a private placement of 2.8M shares and 0.57M warrants; investors include PIMCO Equity Advisors, The Lincoln Fund, Royal Bank of Canada, The Keys Foundation, Albert Fried and Co., and Credito Privato Commerciale; Paramount Capital acted as placement agent (3/20)
Flamel Technologies SA (FLMLY) Private placement of units 3.2U $12.80 Flamel sold 3.2M units at $4 each to raise $12.8M; each unit consists of one ordinary share, 0.56 of a Class A warrant and 0.60 of a combination of Class B or C warrants; altogether, 3.21M shares are to be issued, along with warrants for a total of 3.73M ordinary shares; the warrants have a five-year term; investors are Biotechnology Value Fund, Alta BioPharma Partners and Chase Capital Partners (3/23)
GelTex Pharmaceuticals Inc. (GELX) Private placement of common stock 1.75S $35 GelTex raised $35M through the sale of 1.75M shares at $20 per share to institutional investors; the company also entered an agreement with Acqua Wellington North American Equities Fund Ltd. for a financing facility covering the sale of up to 1.75M shares of common stock over the next 12 months at GelTex's discretion at a small discount to market price; transactions stemmed from a shelf registration covering up to 3.5M shares (3/13)
Geron Corp. (GERN) Private placement of common stock and warrants $9 Geron sold $9M in common stock and warrants to an individual investor; the common stock and stock underlying the warrants are subject to a twoyear prohibition on sale; the transaction was structured in two tranches, the first of which consisted of common stock priced at market and warrants priced at a premium to market; the second tranche, 30% of the total, was priced at a discount to market (3/10)
Helix Biopharma Corp. (TSE:HBP) Private placement of special warrants 3W C$12.75 (US$8.7) Pacific International Securities and Roche Securities Ltd. paid C$4.25 (US$2.90) each for 3M warrants, convertible into 3M common shares at C$6.66 (US$4.53) for one year and warrants to buy 1.5M shares at C$10 (US$6.80) for two years (3/20)
Human Genome Sciences Inc. (HGSI) Private placement of convertible subordinated notes $300 HGS raised $300M through the private placement of $300M worth of 3.75% convertible subordinated notes due 2007; notes are convertible into HGS common stock at $219 per share (3/10)
Ilex Oncology Inc. (ILXO) Private placement of common stock 3S $135 Ilex sold 3M shares of common stock at $45 per share to institutional and other investors for a total of $135M ($127M net); a selling stockholder sold an additional 1.26M shares; Prudential Vector Healthcare Group served as placement agent (3/7)
Immune Network Research Ltd. (CDNX:IMM) Private placement of special warrants 15.45W C$8.5 (US$5.83) Immune Network sold 15.45M special warrants at C$0.55 (US$0.38) per special warrant in a brokered private placement with Groome Capital.com Inc.; each is exercisable into one unit at no additional cost, each unit consisting of one common share and a half-share purchase warrant; each whole-share purchase warrant entitles the holder to purchase one additional common share at C$1.40 (US$0.96) for 18 months (3/9)
Inflazyme Pharmaceuticals Ltd. (CDNX:IZP) Exercise of warrants 3.26S and 0.37W $7.57 Goldman Sachs Group Inc. and Biotechnology Investments Ltd. exercised all of their Series A common share purchase warrants, receiving a total of 3.2M shares for total proceeds of $7.11M ($2.18 per share); in addition, National Bank Financial Inc. exercised 0.37M agent warrants (issued in connection with a 1999 financing) for total proceeds of $0.46M (3/7)
Isis Pharmaceuticals Inc. (ISIP) Offering of common stock under a shelf registration 1S $27.25 Isis raised $27.25M through the sale of 1M shares at $27.25 per share; financing is part of an ongoing relationship with principal investor Acqua Wellington North American Equities Fund Ltd., and was underwritten by Ridgeway Investments Ltd.; the offering was made pursuant to shelf registration for up to 4M shares (3/8)
KS Biomedix plc (LSE:KSB) Placement of ordinary shares 2.27S 15.82 (US$24.97) KS placed 2.27M ordinary shares at 698 pence (US$11.02) to raise 15.82M (US$24.97M); the placement was fully underwritten by WestLB Panmure Ltd. (3/1)
Micrologix Biotech Inc. (TSE:MBI) Private placement of special warrants 4W $40 Micrologix raised $40M through a private placement of 4M special warrants at $10 each via a syndicate of underwriters co-led by TD Securities Inc. and Yorkton Securities Inc., and including RBC Dominion Securities Inc., Goepil McDermid Inc. and Canaccord Capital Corp.; each warrant will entitle the holder to acquire, at no additional cost, one common share of Micrologix (3/20)
NeoTherapeutics Inc. (NEOT) Private placement of common stock 0.52S $8 NeoTherapeutics sold 0.52M shares of stock at $15.375 per share, a 12% premium; investors also receive five-year warrants to purchase 0.1M shares of common stock at $21 per share (3/6)
Novavax Inc. (AMEX: NOX) Exercise of stock options and warrants 0.85S $3.60 Novavax received $3.6M when Anaconda Opportunity Fund LP exercised its warrant to purchase 0.66M shares of common stock for $3.6M; in addition, Anaconda was issued 0.19M shares in a cashless exercise of additional warrants to purchase Novavax stock (3/15)
Nymox Pharmaceutical Corp. (NYMX) Private placement of shares and warrants 0.67S and 0.07W $4 Nymox raised $4M through a private placement of 0.67M shares and 0.07M warrants; investment was placed by Ladenburg Thalmann & Co. (3/14)
Ophidian Pharmaceuticals Inc. (OPHD) Sale of patents and patent applications $1.30 Ophidian sold five patents and patent applications to an undisclosed buyer for $1.3M (3/28)
Organogenesis Inc. (AMEX: ORG) Private placement of shares 0.3S $5.30 Organogenesis, which raised $10.8M in 2/00, directly placed an additional 0.3M shares at $17.625 per share, raising $5.3M (3/9)
Ortec International Inc. (ORTC) Private placement of common stock 0.07S $1 New Medical Technologies (Switzerland) bought 0.067M shares at $15 each, for a total of $1M; Robert Mitani Capital LLC, an affiliate of Aqua Partners, acted as placement agent (3/13)
Oxford GlycoSciences plc (LSE:OGS) Placement of common shares to existing stockholders 2.1S 35.3 (US$55.6) OGS netted 33.2M (US$52.3) from a placement that allowed existing share holders to buy 1 share at 1,700 pence (US$26.78; a 6.72% discount to the 2/24 price) for every 18 shares owned; the placement was underwritten by Lehman Brothers; Lehman and Cazenove & Co. were brokers to the issue (3/20)
Oxis International Inc. (OXIS) Private placement of units 1U $4.80 Oxis raised approximately $4.8M in the first tranche of a units financing; each unit is priced at $4.75 and consists of one share of common stock and warrants to purchase two shares, one of which may be purchased at $5.94; the other share covered by the warrants may be purchased at $7.13 (3/7)
Pharmacopeia Inc. (PCOP) Private placement of common stock 1.86S $117 Pharmacopeia raised $117M through the sale of 1.86M shares of common stock at $63 per share to institutional investors (3/8)
Pharmacyclics Inc. (PCYC) Private placement of common stock 0.82S $60 Pharmacyclics raised $60M through the sale of 0.82M shares of common stock at $73.75 per share to selected institutional investors (3/2)
Protein Polymer Technologies Inc. (PPTI) Exercise of warrants 4.2S $2.10 Protein Polymer received $2.1M through conversion of warrants to common stock at $0.50 per share (3/7)
Repligen Corp. (RGEN) Private placement of common stock 2.6S $22.40 Repligen raised $22.4M through the sale of 2.6M shares at $8.625 per share; Paramount Capital Inc. acted as financial adviser (3/7)
SafeScience Inc. (SAFS) Two private placements of common stock and warrants 0.68S and warrants for .87S $9 SafeScience conducted two separate private placements of equity; in the one transaction, the company raised $5M through the sale of 0.35M shares at $14.45 per share; shares included a warrant to purchase 0.11M shares at $15.98 per share; the investors, led by Cavallo Capital Corp., will buy up to $9M worth of additional stock, subject to certain conditions; in the other transaction, SafeScience raised $3M in a placement of 0.33M shares at $12 per share; shares included a warrant to purchase an additional 0.76M shares at $15.98 per share; Gerard Klauer Mattison & Co. Inc. and George K. Baum & Co. acted as placement agents for the transactions (3/31)
Sangui BioTech International Inc. (OTC BB:SGBI) Regulation S sale of common stock 8S $7.71 Sangui issued 8M shares at $0.96 per share to longterm financial partner Euro-American GmbH (Germany); the shares will be issued under Regulation S with a restriction term of 24 months (3/31)
Select Therapeutics Inc. (OTC BB: SLPU) Private placement of equity ND $9.50 Select Therapeutics raised $9.5M; Clayton Dunning & Co. Inc. acted as placement agent (3/31)
SignalGene (TSE:SGI) Private placement 7.16S C$3.7 (US$2.5) In conjunction with the acquisition of GeneScape Inc., SignalGene raised C$2.7M (US$1.85M) in a placement with two existing GeneScape shareholders: the Business Development Bank of Canada and Royal Bank Venture Inc.; Societe Innovatech du Grand Montreal also bought $1M (US$0.68M) worth of stock (4/14)
Synsorb Biotech Inc. (SYBB) Sale of subsidiary ND Synsorb sold INH Technologies Inc., a subsidiary, to MDS Inc. (Canada; TSE:MDS.A) for an undisclosed cash payment, plus future milestones and royalties (3/7)
Targeted Genetics Corp. (TGEN) Private placement of common stock 2.16S $30.30 Targeted raised $30.3M through the sale of 2.16M shares of common stock at $14 per share; investors are Franklin Templeton Group, Invesco Funds, Lone Pine Capital LLC, International Biotechnology Trust and Deerfield Management Co.; Chase H&Q served as placement agent (3/1)
Theratechnologies Inc. (TSE:TH) Exercise of warrants 0.5S C$3.05 (US$2.1) The Societe generale de financement du Quebec exercised 0.5M warrants at C$6.10 (US$4.15), for a total of C$3.05M; warrants stem from 6/99 financing (3/20)
Vasogen Inc. (TSE:VAS) Private placement of special warrants 1.725W C$15.5 (US$10.7) Vasogen raised C15.5M (US$10.7M) through a private placement of 1.725M special warrants at C$9 (US$6.21); each warrant is convertible into one share of Vasogen for no additional consideration (3/1)
Vertex Pharmaceuticals Inc. (VRTX) Private placement of convertible subordinated notes $175 Vertex sold $175M worth of 5% notes, due 3/07; notes are convertible into common stock at $80.64 per share (3/9)
Vion Pharmaceuticals Inc. (VION) Exercise of warrants 1.07S and 1.07W $5.34 About 90% of Vion's Class A warrants were exercised for $4.63 each, for a total of $4.71M; holders received a total of 1.07M shares of common stock and 1.07M shares of Class B warrants; also, holders of the company's 0.23M unit purchase options exchanged 0.12M of these options, generating $0.62M; the options were exchanged for 0.12M shares of stock, 0.13M Class A warrants (immediately exchanged for 0.13M shares and 0.13M Class B warrants) and 0.13M Class B warrants (3/14)
Viragen Inc. (OTC BB: VRGN) Shelf registration Viragen is seeking to raise $60M this year via equity equity financing through Ladenburg Thalmann & Co. (3/14)
APRIL
AltaRex Corp. (TSE:AXO) Warrant exercise 5.687S C$5.4 (US$3.66) AltaRex received C$5.4M (US$3.66M) from the exercise of special warrants sold 2/29/00 into common shares (4/20)
Aphton Corp. (APHT) Private placement of common stock 0.49S $16.22 Aphton sold 0.49M shares of common stock at $33 per share to raise $16.22M; Morgan Stanley Dean Witter and Gruntal & Co. assisted in the placement (4/12)
Aronex Pharmaceuticals Inc. (ARNX) Private placement of units 81U $8.10 Aronex sold units for $100,000 each; each unit consists of 36,364 shares of common stock and a five-year warrant to purchase 12,121 shares of common stock at $3 per share; Paramount Capital Inc. acted as financial adviser (4/18)
Aviron (AVIR) Private placement of common stock 0.14S $4 Under previously filed registration form S-3, Aviron sold 0.14M shares to Acqua Wellington Asset Management LLC at $27.74 per share, raising gross proceeds of $4M; Aviron may sell up to $48M in shares to Acqua over 12 months (4/13)
BioChem Pharma Inc. (BCHE) Product development investment to be repaid with royalties C$80 (US$55.18) BioChem entered a partnership agreement with the Canadian government through Technology Partnerships Canada, under which the government will invest C$80M (US$55.18M) in BioChem s recombinant protein vaccines program and will be repaid with royalties on commercialized products (4/3)
Biosyntech Inc. (OTC BB:BSYI) Private placement of units 1.8U $6.30 Biosyntech sold 1.8M units at $3.50 per unit for total proceeds of $6.3M; each unit consists of one share of common stock and one warrant to buy a common share at $4.50 by 3/31/01 (4/20)
Calypte Biomedical Corp. (CALY) Private placement of common stock 4.1S $8.40 Calypte sold 4.1M shares at $2.05 per share for proceeds of $8.4M; half of the financing was provided by Trilobite Lakes Corp., a wholly owned subsidiary of Claneil Enterprises Inc. (4/13)
Cytoclonal Pharmaceutics Inc. (CYPH) Warrant redemption $25.70 Cytoclonal completed the call for redemption of publicly traded Class D warrants; about 65% of the warrants (2.4M) were exercised, allowing holders to buy one share of common stock at $8.75 for each warrant held (4/17)
Endorex Corp. (AMEX:DOR) Private placement of common stock and warrants 1.81S, warrants for 0.455S $8.60 Endorex raised $8.6M through a private placement of 1.81M shares priced at $4.75 per share to domestic and foreign institutional investors; investors also received warrants to buy 0.455M common shares at $5.91 per share; Paramount Capital Inc. acted as financial adviser (4/13)
Epoch Pharmaceuticals Inc. (OTC BB: EPPH) Warrant redemption 3.795S $9.50 Epoch raised $9.5M through the exercise of warrants for 3.795M shares of common stock at $2.50 per share (4/10)
Helix BioPharma Corp. (TSE:HBP) Private placement of units 3U C$10 (US$6.89) Helix placed 3M units at C$3.33 (US$2.29) per unit with a private European investment company, raising C$10M (US$6.89M); the units consist of 3M shares plus warrants to purchase 1.5M shares at C$6.66 (US$4.59) per share for one year and warrants to purchase 1.5M shares at C$10 (US$6.89M) for two years (4/5)
Hemosol Inc. (TSE:HML) Bought-deal financing 1.06S C$20.1 (US$13.84) Hemosol sold 1.06M shares at $19 each in a boughtdeal financing with a syndicate of underwriters led by Yorkton Securities Inc. (4/5)
Integra LifeSciences Corp. (IART) Private placement of convertible preferred stock and warrants 0.054 preferred shares, warrants for 0.3S $5.40 Integra raised $5.4M from investment affiliates of Soros Private Equity Partners LLC, which bought 54,000 shares of Series C convertible preferred stock that are convertible into 0.6M shares of common stock, plus warrants to purchase an additional 0.3M shares at $9 per share (4/6)
Matritech Inc. (NMPS) Warrant exercise 1.3S $2.80 Matritech raised $2.8M through the exercise of three separate stock purchase warrants in 1Q:00 for 1.3M shares of stock; to date, all but 88,137 warrants have been exercised (4/10)
NeoRx Corp. (NERX) Private placement of common stock 1.73S $19 NeoRx sold 1.73M shares of common stock at $11 each to institutional investors for gross proceeds of $19M; placement agents were Adams, Harkness & Hill, and Roth Capital Partners Inc. (4/24)
NeoTherapeutics Inc. (NEOT) Private placement of subordinated convertible debentures $10 NeoTherapeutics placed $10M worth of 5% subordinated convertible debentures due 4/6/05; subject to certain conditions, investors agreed to fund two future tranches of up to $10M each and redeemable warrants to purchase up to 4M shares of common stock over a two-year period exercisable at $33.75 per share (for a potential total of $69M); debentures are convertible into common stock at $20.25 per share for the first 90 days, and at the lesser of $20.25 or 101% of the market price thereafter (4/10)
Neurobiological Technologies Inc. (OTC BB:NTII) Private placement of common stock 1.19S $6.36 Neurobiological Technologies sold 1.19M shares at $5.30 per share for proceeds of $6.36M; investors included Capital Research Co. and Gotham Capital Management; AmeriCal Securities Inc. acted as placement agent (4/19)
Novopharm Biotech Inc. (TSE:NVO) Private placement of units 6.85U C$5 (US$3.45) Dan Family Holdings Ltd. will purchase 6.85M units at C$0.73 (US$0.50) per unit; each unit consists of one common share and one-half common share purchase warrant; each full warrant may be exercised at C$0.73 per share (US$0.50) during the first year and $1.50 the second year; deal also includes a second tranche in the form of a non-interestbearing facility for C$7M (US$4.83M), from which Novopharm may draw in C$1M (US$0.69M) increments after 8/31/00 (4/3)
NPS Pharmaceuticals Inc. (NPSP) Private placement of common stock 3.9S $46.80 NPS sold an aggregate of 3.9M shares of common stock at $12 each for gross proceeds of $46.8M ($43.5M net); Prudential Vector Healthcare Group served as placement agent (4/24)
Oxis International Inc. (OXIS) Private placement of units ND $6.25 Oxis raised $1.45M in second tranche of a units placement; units consist of one share of common stock and warrants to purchase two shares of common stock; units in the second tranche were priced at $3.94; one share covered by the warrants may be purchased at $4.92, or 125% of unit price, and the second may be purchased at $5.91, or 150% of the unit price (4/20)
Procyon BioPharma Inc. (VSE:PBP) Private placement of special warrants 7.79W C$20.4 (US$13.94) Procyon offered 7.79M warrants at C$2.62 (US$1.79) each; each warrant will be exercisable, at no additional cost, into one common share and one-half of one common share purchase warrant; each whole warrant entitles holder to purchase a common share for C$3.93 (US$0.68) within two years; Research Capital Corp. led the financing (4/11)
SangStat Medical Corp. (SANG) Line of credit $30 SangStat reached an agreement with Finova Capital Corp. for a $30M credit line at the prime rate of interest plus 0.75% (4/24)
Sepragen Corp. (OTC BB: SPGNA) Private placement of common stock 3.445S $2.58 Sepragen sold 3.445M shares of common stock at $0.75 per share for gross proceeds of $2.58M; investors include Koyah Leverage Partners LP and Koyah Partners (both managed by ICM Asset Management) and Special Situations Private Equity Fund LP; Crown Point Securities LLC served as placement agent (4/5)
Siga Technologies Inc. (SIGA) Private placement of common stock and warrants 0.6S and warrants $3 Siga completed a $3M private placement consisting of 0.6M shares of common stock and attached warrants (4/7)
Synthetic Blood International (OTC BB:SYBD) Private placement ND $2 Synthetic Blood received first installment of $5.5M financing commitment from offshore investors (4/3)
Theratechnologies Inc. (TSE:TH) Private placement of warrants C$10.8 (US$7.35) Theratechnologies placed C$10.8M (US$7.35) worth of warrants with an institutional investor entitling the holder to acquire, without additional payment, 1.2M common shares of Theratechnologies new spin-off Ecopia BioSciences within 18 months of the listing date of Ecopia s shares on a recognized market, or 0.54M shares of Theratechnologies if Ecopia is not listed by 5/5/04 (4/26)
Trega Biosciences Inc. (TRGA) Private placement of common stock 3.7S $11 Trega sold 3.7M shares of common stock for gross proceeds of $11M (4/5)
Trinity Biotech plc (TRIBY) Private placement of common stock 4S $13.40 Trinity placed 4M shares at $3.35 per share for gross proceeds of $13.4M; Goodbody Stockbrokers, a subsidiary of AIB Bank in Ireland, served as placement agent (4/5)
Valentis Inc. (VLTS) Private placement of common stock 1.915S $19.20 Valentis sold 1.915M shares of common stock for $10 each to raise $19.2M; investors included the State of Wisconsin Investment Board, BayStar Capital and Merlin BioMed Asset Management in the U.S.; Framlington Asset Management, Park Place Capital and the Finsbury Trust in the UK; Compania Financiera Internacional and BSI-AG in Switzerland; and Banca Intermobiliare di Invetimenti in Italy (4/14)
MAY
AEterna Laboratories Inc. (AELA) Bought deal for subordinate voting shares 1.06S C$14 (US$9.29) AEterna raised C$14M (US$9.29M) in a a bought-deal sale of 1.056M subordinate voting shares at C$13.25 (US$8.79) each; underwriters have an overallotment option for an additional 0.16M shares; underwriting syndicate was led by Yorkton Securities Inc. and included HSBC Securities Inc., Canaccord Capital, BLC Securities Inc., and Desjardins Securities Inc. (all of Canada) (5/25)
Ariad Pharmaceuticals Inc. (ARIA) Exercise of warrants 1.4S $11.70 Ariad raised $11.7M from the exercise of 1.4M warrants to buy shares one-for-one at $8.40 per share (5/3)
Aviron (AVIR) Private placement of common stock 0.349S $8 Under previously filed registration form S-3, Aviron sold 0.349M shares to Acqua Wellington Management LLC at $22.92 per share, for a total of $8M (5/12)
Cyanotech Corp. (CYAN) Private placement of convertible subordinated debentures $1.10 Cyanotech netted $1.1M through a placement of 6% convertible subordinated debentures due 2002 and covertible into common stock at $1.50 per share; Taglich Borthers Inc. managed the placement (5/4)
Endovasc Ltd. (OTC BB: ENDV) Private placement of preferred stock ND $1.50 Endovasc will receive $4.5M in three installments of $1.5M each, the first of which has been successfully funded; the placement was facilitated by J.P. Turner & Co. (5/10)
InKine Pharmaceutical Inc. (INKP) Private placement of common stock 2.8S $10.80 InKine raised $10.8M through a private placement of approximately 2.8M shares of common stock to investors including funds managed by Cahill, Warnock & Co., Baker Street Capital Management, Worthington Growth LP and Furman Selz Capital Management; Leerin Swann & Co. acted as placement agent (5/8)
InSite Vision Inc. (AMEX ISV) Private placement of common stock 3.35S and warrants for 1.172S $13 InSite netted $13M in a private placement of 3.35M shares of common stock and warrants to purchase 1.172M shares at $5.64 per share (5/3)
Maxim Pharmaceuticals (MAXM) Sale of program $3 Maxim completed an agreement to sell all assets underlying its MaxVax mucosal vaccine, and to settle an arbitration related to the technology, for $3M (5/26)
MGI Pharma Inc. (MOGN) Registered direct placement 1S $18 MGI sold 1M shares at $18 each through a registered direct placement of shares to institutional investors; placement was led by U.S. Bancorp Piper Jaffray, with Banc of America Securities LLC and CIBC World Markets as co-placement agents (5/25)
NeoTherapeutics Inc. (NEOT) Private placement of common stock 0.5S $7 NeoTherapeutics raised $7M through the sale of 0.5M shares at $14 each to a Canadian financial institution, which also received a five-year warrant to purchase up to 0.125M shares at $17.50 per share; Dlouhy Investments Inc. (Canada) acted as placement agent (5/2)
Proteome Sciences plc (LSE:PRM) Placing of ordinary shares 9.93S 4.47 (US$6.93) Proteome placed 9.93M shares at 45 pence (US$0.70) each, for a total of 4.47M (US$6.93M); 3.78M shares were placed directly and 6.16M shares were placed through an open offer; West LB Panmure served as broker (5/2)
Transkaryotic Therapies Inc. (TKTX) Private placement of preferred stock $100 Transkaryotic raised $100M through the sale of convertible preferred stock to E.M. Warburg, Pincus & Co. LLC; stock is convertible into approximately 3.57M shares of common stock at a conversion price of $28 per share (5/19)
JUNE
Aastrom Biosciences Inc. (ASTM) Private placement of common stock 2.81S $6 Aastrom sold 2.81M shares of common stock to a single investor at $2.13 per share; the investor also received a warrant exercisable beginning 6/8/01 if the market price of Aastrom common stock is below $2.135; the warrant will immediately expire if the price of the company's common stock over the next year exceeds $4.27 per share or upon certain change-in-control events (6/12)
Access Pharmaceuticals Inc. (AMEX: AKC) Private placement of common stock 5.6S $15.30 Access completed self-managed private placements of 0.758M shares for a total of $3.3M; the company earlier raised $12M in a private placement of 4.8M shares led by Oracle Partners (6/7)
Amarin Corp. plc (AMRN) Private placement of ordinary shares 38.3S $11.50 Amarin placed 38.3M shares at $0.30 through Sanders Morris Harris, Corporate Opportunities Fund (an SMH affiliate) and EGS Private Healthcare Partnership LP (6/26)
Aquasearch Inc. (OTC BB: AQSE) Equity line $10 Aquasearch secured a $10M equity line from Alpha Venture Capital Inc. (6/19)
Ariad Pharmaceuticals Inc. (ARIA) Private placement of common stock under a shelf registration 0.68S $8 Ariad sold 0.68M shares of common stock at $11.75 per share to Acqua Wellington North American Equities Fund Ltd., which agreed to buy up to $75M of Ariad's stock over the next 18 months under a shelf registration filed 6/6/00; the shares may be sold, at Ariad's discretion, at a small discount to market at the time of sale; Lehman Brothers acted as financial adviser to Ariad for both transactions (6/28)
Aviron (AVIR) Private placement of common stock under a shelf registration 0.34S $8 Aviron sold 0.34M shares to Acqua Wellington Asset Management LLC for an agregate price of $8M, or $23.53 per share; Acqua also increased its financing commitment to Aviron from $48M to $84M (6/12)
BioChem Pharma Inc. (BCHE) Sale of stake in another company C$210 (US$141.4) BioChem sold Baxter International Inc. (NYSE:BAX) its stake in North American Vaccine (including shares, debenture, line of credit and related interest and premium) for C$210M (US$141.4M), consisting of 1.3M shares of Baxter and C$86M (US$57.9M) (6/27)
Biotech Holdings (OTC BB:BIOHF) Private placement of common stock and warrants 3S, 3W C$2.04 (US$1.37) Biotech Holdings placed 3M common shares at C$0.68 (US$0.46) per share, with 3M common-share purchase warrants at C$0.85 (US$0.59) per share exercisable for 18 months; this transaction would replace private placement of $1.76M announced 4/17; Biotech Holdings has also applied for 2.6M convertible preferred share purchase warrants at C$0.85 (US$0.59) per share to be granted to four companies that have loaned Biotech Holdings a total of $2.2M; warrants would be granted for extensions of loan repayment (6/2)
Boston Life Sciences Inc. (BLSI) Private placement of common stock 1.25S $10 Boston Life executed a direct private placement of $10M in common stock with the Pictet Global Sector FundBiotech (6/2)
Connetics Corp. (CNCT) Private placement of common stock 2S $20 Connetics sold 2M shares at $10 each to existing and new investors (6/21)
EntreMed Inc. (ENMD) Exercise of warrants 0.43S $11 Warrant holders exercised options under 7/99 financing and purchased 0.43M shares for a total of $11M (6/6)
EntreMed Inc. (ENMD) Sale of shares under shelf registration 1S $22 EntreMed priced an offering under a shelf registration filed 1/00 at $22 per share, raising $22M ($20.6M net); the offering was underwritten by Banc of America Securities LLC (6/14)
Genset SA (GENXY) Private placement of convertible bonds EUR55.6 (US$52.9) Genset raised EUR49M (US$46.7M) through an offering of bonds (6/7), plus additional funding through the exercise of the overallotment option (6/27); the annual gross yield to maturity is 4.5%; the nominal price per bond, E94 (US$0.88), was set at a 17.5% premium to Genset's share price at the time of the pricing; the bonds, which were issued at par, are exchangeable 1-for-1 for new or existing Genset shares; SG Cowen underwrote the offering (6/27)
Geron Corp. (GERN) Private placement of convertible debentures $25 Geron sold $25M in zero-coupon debentures to an existing institutional investor; debentures are convertible into Geron common stock at $29.95 per share; the investor also received warrants to purchase up to 0.83M shares of Geron common stock at a premium to the conversion price (6/29)
Hemosol Inc. (TSE:HML) Exercise of overallotment option in boughtdeal financing 0.16S C$3 (US$2.03) Hemosol raised an additional C$3M (US$2.03M) through the exercise of overallotment option for 0.16M shares at $19 (US$12.86) per share under 4/00 financing (6/7)
IGT Pharma Inc. (VSE:IGT) Private placement of special warrants 5W C$6 (US$4.06) IGT sold 5M special warrants at C$1.25 (US$0.85) for proceeds of C$6M (US$4.06M); Dominick and Dominick Securities Inc. served as lead underwriters (6/5)
ImmuLogic Pharmaceutical Corp. (OTC BB: IMUL) Sale of shares in another company 1.37S $8.83 ImmuLogic converted 0.433M American depositary shares of Cantab Pharmaceuticals plc (LSE:CTB) into 1.3M ordinary shares, sold on the open market for about $7.215M; ImmuLogic sold an additional 0.07M ADSs to a private buyer in the U.S. (6/12)
Inflazyme Pharmaceuticals Ltd. (TSE:IZP) Private placement of common stock 3.88S C$12 (US$8.12) Inflazyme closed an unbrokered private placement with International Biotechnology Trust plc, a fund managed by Rothschild Asset Management (UK); IBT purchased 3.88M shares at C$3.09 (US$2.09) each for net proceeds of C$12M (US$8.12M) (6/5)
International Isotopes Inc. (INIS) Private placement of convertible preferred stock $10 International Isotopes raised $10M through issuance of non-voting, redeemable, convertible preferred common stock; stock has a 7% coupon and includes warrants for 2.5M shares of common stock (6/20)
Ligand Pharmaceuticals Inc. (LGND) Exercise of warrants to buy common stock 1.08S $7.70 Approximately 98% of 1.1M outstanding warrants were exercised at $7.12 per share of common stock; warrants were issued in conjunction with a 1995 public offering (6/7)
Neurogen Corp. (NRGN) Private placement of common stock 1.64S $41 Neurogen sold 1.638M shares of common stock at $25 per share, raising $41M; Pacific Growth Equities acted as placement agent (6/28)
Paracelsian Inc. (PRLN) Conversion of debt to equity 0.94S $0.50 BioSignia Inc. agreed to convert $0.5M worth of debt into additional equity of Paracelsian; at $0.5312 per share (the closing price on the date of the announcement), the deal would cover 0.94M shares (6/20)
Senesco Technologies Inc. (OTC BB: SENO) Private placement of common stock 1.47S $2.20 Senesco raised $2.2M in a private placement led by Fahnestock & Co. Inc., which purchased 1.47M shares at $1.50 each (6/15)
StressGen Biotechnologies Corp. (TSE:SSB) Exercise of warrants 1.74S C$5.75 (US$3.9) StressGen received C$5.75M (US$3.9M) from the exercise of warrants for 1.74M common shares at C$3.30 (US$2.47) (6/13)
Techniclone Corp. (TCLN) Equity line Techniclone signed an amendment to 6/98 equity line agreement allowing the company to draw up to $2.8M per month subject to minimum share prices; at a price of $4 per share, the company could draw up to $27M (6/7)
JULY
AEterna Laboratories Inc. (TSE:AEL) Bought deal 0.16S C$2.1 (US$1.4) AEterna raised an additional C$2.1M (US$1.4M) from 5/00 bought deal through the underwriters' exercise of an overallotment option for 0.16M shares at C$13.25 (US$9.04) per share; the syndicate was led by Yorkton Securities Inc. and included HSBC Securities Inc., Canaccord Capital Corp., BLC Securities Inc. and Desjardins Securities Inc. (7/25)
Advanced Polymer Systems Inc. (APOS) Sale of product lines and technology rights $25 Advanced Polymer sold its cosmeceutical product lines and technology rights for certain topical pharmaceuticals to R.P. Scherer Corp. (subsidiary of Cardinal Health Inc. [NYSE:CAH]); Advanced Polymer received $25M up front and could receive an additional $26.5M in milestone payments over the next three years (7/26)
Antisoma plc (LSE:ASM) Private placement of ordinary shares 7.68S 9 (US$13.6) Antisoma raised 9M (US$13.6M) by placing 7.68M ordinary shares at 117p (US$1.77) per share, a discount of approximately 8% to the closing middle market price on the London Stock Exchange on 7/26; Nomura International arranged the placement (7/27)
Aurora Biosciences Corp. (ABSC) Sale of equity in another company $1.70 Aurora recognized a $1.7M gain as the result of the sale of its equity stake in Cytovia Inc. to Maxim Pharmaceuticals (MAXM), which in June acquired Cytovia in an all-stock transaction valued at more than $80M (7/20)
Avant Immunotherapeutics Inc. (AVAN) Private placement of common stock 4.65S $36.50 Avant raised $36.5M through a private placement of 4.65M shares at $7.85 per share (a 7.6% discount to the 7/14/00 closing price); PaineWebber Inc. served as placement agent (7/17)
Axys Pharmaceuticals Inc. (AXPH) Private placement of common stock 1.639S $10 Acqua Wellington North American Equities Fund agreed to purchase up to $50M of discounted Axys common stock over the next 15 months; the initial sale is of 1.639M shares at $6.10 each, for a total of $10M (7/21)
Bioject Medical Technologies Inc. (BJCT) Private placement of common stock 1.3S $10 Bioject sold 1.3M shares at $7.75 each for proceeds of $10M; Lone Pine Capital led the financing, and four other institutional investors participated (7/28)
Genelabs Technologies Inc. (GNLB) Private placement of common stock 1S $4 Acqua Wellington North American Equities Fund Ltd. agreed to buy up to $29M worth of Genelabs' common stock over the next 18 months; Acqua Wellington made an initial investment of $4M through a purchase of 1M shares at $4 per share (7/11)
Genome Therapeutics Corp. (GENE) Sale of common stock through shelf registration 1.5S $44.70 GTC sold 1.5M shares at a weighted average price of $31.01 under a 4/00 shelf registration that replaced a public offering attempt; Tucker Anthony Inc. acted as placement agent (7/10)
Ixion Biotechnology Private placement of stock 3.34S $6.70 Qvestor LLC, a U.S. subsidiary of Q-Med AB, purchased 3.34M shares of Ixion stock for $2 each for a total of $6.68M; Q-Med already had 0.56M shares of Ixion and had an option to acquire up to 50 percent of the company; after the closing, Q-Med owns 59 percent of Ixion (7/17)
La Jolla Pharmaceutical Co. (LJPC) Private placement of common stock 4.8S $29.40 La Jolla entered definitive agreements for the sale of 4.8M shares at $6.125 per share, for a total of $29.4M (7/19)
Matrix Pharmaceutical Inc. (MATX) Private placement of common stock 2.5S $31 Matrix entered definitive agreements to sell 2.5M shares at $12.50 per share (a discount of approximately 6% from the prior 20-day average trading price); Banc of America Securities LLC served as placement agent (7/13)
Meditech Pharmaceuticals Inc. (OTC BB: MDCH) Common stock equity line Meditech secured a $30M equity line from an undisclosed institutional investor (7/6)
Nabi Inc. (NABI) Private placement of common stock 1.25S $10 Nabi raised $10M through a private placement of an estimated 1.25M shares of common stock (based on the 7/13 closing price of $8.013 per share) (7/13)
Oncolytics Biotech Inc. (TSE:ONC) Private placement of common stock 0.245S C$3 (US$2.02) Oncolytics sold 0.245M shares at C$12.25 (US$8.25) per share to Innovatech Grand Montreal (7/17)
Teva Pharmaceutical Industries Ltd. (TEVA) Multicurrency five-year term loan credit facility $135 Teva established a $135M multicurrency five-year term loan credit facility with a syndicate of banks, primarily based in Europe; the syndicate was arranged by The Sumitomo Bank Ltd. and Deutsche Bank AG and includes 12 other banks; Teva expected to fully draw down the facility within a month (7/17)
Theratechnologies Inc. (TSE:TH) Exercise of warrants 0.208S C$1.27 (US$0.85) The Societe generale de financement du Quebec exercised 0.208M warrants at C$6.10 (US $4.12) per share, for proceeds of C$1.27M (US$0.85M); warrants were issued as part of a 6/99 financing (7/4)
United Therapeutics Corp. (UTHR) Private placement of common stock 1.3S $143 United raised $143M through the sale of 1.3M shares of common stock at $110 per share; Deutsche Banc Alex. Brown served as placement agent (7/13)
Xenova Group plc (XNVA) Private placement of units 2.9U 10 (US$14.9) Xenova raised 10M (US$14.9M) by issuing 2.9M units at 3.45 (US$5.18); each unit consist of five new shares and four warrants at 85 pence each (exercisable between 1/1/01 and 10/31/01); Nomura International plc underwrote the issue (7/19)
AUGUST
Alliance Pharmaceutical Corp. (ALLP) Debenture financing $10 Alliance received $10M from the sale of subordinated convertible debentures to a small group of investors, who have the option to purchase an additional $10M of debentures convertible into stock at $16 per share for four years after issuance (8/22);
Antisoma plc (LSE:ASM) Private Placement 7.68S 8.7 (US$13) Antisoma raised 8.7M (US$13) by placing 7.68M shares at 1.17 per share, a discount of 8 percent to the July 26 closing price (7/27)
Aviron (AVIR) Private placement 0.262S $8 Aviron sold 262,200 shares to Acqua Wellington Asset Management LLC for an aggregate price of $8M, or $30.51 per share; the company did not pay any fees in connection with the transaction (8/8)
Bioject Medical Technologies Inc. (BJCT) Equity financing 1.4S $10.50 Bioject completed the final segment of a private equity financing with the sale of 150,000 shares at $7.88 per share, bringing the total financing to $10.5M net, representing about 1.4M shares; Lone Pine Capital acted as the lead investor and five other investors participated (8/4)
Caliper Technologies Corp. (CALP) Private placement of common stock 2.3S $110.40 Caliper sold 2.3M shares at $48 per share, a discount to market price (8/30)
Cerus Corp. (CERS) Private placement 1.2S $60 Cerus raised $60M through the issuance of 1.2M shares at $50 per share (8/29)
CombiMatrix Corp., majorityowned affiliate of Acacia Research Corp. (ACRI) Private equity financing $36 Investors included Acacia Research, Emerging Growth Management, JDS Capital, Oracle Partners, OrbiMed Advisors, SAC Capital Management, Seneca Capital and Wheatley Partners (8/3)
Coulter Pharmaceutical Inc. (CLTR) Private placement 1.655S $35.80 Coulter entered into an agreement to sell 1.655M shares at $21.625 per share, raising $35.8M; Pacific Growth Equities Inc. served as the placement agent (8/14)
CV Therapeutics Inc. (CVTX) Common stock equity CV received a commitment for up to $120M in common stock equity financing from Acqua Wellington North American Equities Fund Ltd.; CV may sell shares at its discretion and at a small discount to the market price over the next 28 months (8/8)
Derma Sciences Inc. (DSCIC) Private financing 0.67U $0.50 Derma concluded an agreement with three investment firms to sell $500,000 of the company s Series E units at $0.75 per unit; the units consist of one share and 1.1 warrant to purchase one share at $0.85 per share; the warrants expire July 18, 2005; purchasers included Kensington Capital Management LLC, Dolphin Offshore Partners and Redwood Asset Management (8/23)
Genelabs Technologies Inc. (GNLB) Equity financing 0.78S $3.11 Genelabs sold 779,271 shares to Acqua Wellington North American Equities Fund Ltd. for $3.99 per share; the company did not pay any fees in connection with the transaction (8/9)
Immunex Corp. (IMNX) Shelf registration 70S Immunex filed for a shelf registration to sell up to 70M shares, 20M from the company and 50M from American Home Products Corp., which holds 283.9M shares; terms will be determined at the time of the offering (8/9)
Incara Pharmaceuticals Corp. (INCR) Equity financing facility Incara entered into a definitive agreement with Torneaux Fund Ltd. to sell stock over 15 months; the amount of the investment is dependent on Incara s stock price and is expected to exceed $3M, but is capped at $18.9M (8/18)
Interferon Sciences Inc. (OTCBB:IFSC) Private placement of units 11.64U $7.70 Interferon raised $7.7M from the sale of 11.64 units, which each contain one share of common stock and a warrant, exercisable until April 2005, to purchase one share at $1.50 (8/8)
InterMune Pharmaceuticals Inc. (ITMN) Private placement of stock 2S $76 InterMune raised $76M through a private placement of 2M shares at $38 per share; Prudential Vector Healthcare Group was the lead placement agent; co-placement agents were Lehman Brothers and UBS Warburg LLC (8/17)
Magainin Pharmaceuticals Inc. (MAGN) Private placement 4.1S $12.40 Magainin sold 4.1M shares at $3 per share, raising $12.4M; both existing and new investors participated, including the State of Wisconsin Investment Board; Paramount Capital Inc. was financial adviser (8/11)
Matritech Inc. (NMPS) Equity financing 2.45S Matritech entered into an agreement with Acqua Wellington North American Equities Fund Ltd. to sell over 14 months up to 2.45M shares that are part of a shelf registration; the shares may be sold at a small discount to market and the total investment is dependent on the company s stock price (8/24)
Myriad Genetics Inc. (MYGN) Equity placement 0.175S $22 Myriad received $22M in a direct equity placement with Acqua Wellington North American Equities Fund Ltd.; the 175,000 shares were sold at a small discount to the market price (8/29)
NeoRx Corp. (NERX) Private placement 2.45S $37 NeoRx sold 2.45M shares to institutional investors led by Lone Pine Capital LLC, Capital Research and Management Co., and Deerfield Management, raising $36M in net proceeds; following the offering, the company has 26M shares outstanding; Adams, Harkness & Hill Inc. acted as placement agent (8/29)
NexMed Inc. (NEXM) Private equity placement 2.008S $16.68 NexMed sold 2.008M shares, raising $16.68M; investors paying $18 per unit received two shares at $9 per share and one warrant to purchase one share at $13.50; investors paying $16.54 per unit received two shares at $8.27 per share and one warrant to purchase 0.7 share at $13.50; all warrants may be exercised over the next 18 months; investors included Capital Research and Management Co. and a fund managed by a major investment firm; AmeriCal Securities Inc. acted as the placement agent (8/2)
NexMed Inc. (NEXM) Private equity placement 1.13S $10.17 NexMed sold an additional 1.13M shares, raising an additional $10.17M; investors paid $18 per unit and received two shares at $9 per share and one 18-month warrant to purchase one share at $16.20 per share; AmeriCal Securities Inc. and Shannon Limited acted as placement agents (8/9)
Oxford Biomedica plc (LSE:OXB) Private placement of ordinary shares 14.6S 8.5 (US$12.8) Oxford raised 8.5M through the issuance of 14.6M ordinary shares at 60 pence per share (8/10)
Paracelsian Inc. (OTC:PRLN) Private equity investment $0.50 Paracelsian received an equity investment of $0.5M and also issued warrants that could result in an additional investment of $1.5M by Dec. 31 if the warrants are exercised in full (8/10)
StemCells Inc. (STEM) Private placement 0.924S $4 StemCells completed a $4M common stock financing, receiving $3M at closing and will receive $1M more upon effectiveness of a registration statement covering shares owned by the investment fund; the fund purchased the stock at $4.33 per share and will be entitled to receive additional shares on eight dates; the fund also has the option for 12 months to purchase up to $3M of additional common stock (8/7)
Syn X Pharma Inc. (CDNX:SYY) Private placement of special warrants C$5.8 (US$3.9M) Each warrant will be exercisable into one common share and one common share purchase warrant, which has a term of two years and entitles the holder to purchase one common share at C$4 in the first year and C$4.25 in the second year; 50 percent of proceeds go to Syn X and 50 percent will go in escrow pending the company s achievement of two of six milestones; Octagon Capital Corp. and Thomson Kernaghan & Co. Ltd. led the placement (8/16)
Vion Pharmaceuticals Inc. (VION) Exercise of purchase options 0.113U $2.76 Holders of Vion s remaining 113,333 unit purchase options exercised them, giving the company $2.76M and resulting in the issuance of 494,816 shares; Vion now has 25.96M shares outstanding (8/14)
SEPTEMBER
Access Pharmaceuticals Inc. (AMEX:AKC) Private convertible note offering $13.50 Company completed a $13.5M convertible note offering, which was placed with three investors: Philip D. Kaltenbacher, Oracle and an unnamed silent partner (9/20)
Advanced Tissue Sciences Inc. (ATIS) Private placement of common stock 3.5S $20 The company placed the shares of unregistered common stock with the State of Wisconsin Investment Board (9/20)
Advanced Viral Research Corp. (OTC BB:ADVR) Equity line Company signed a financing contract for a $20M equity line of credit arranged by the May Davis Group (9/27)
Atlantic Technology Ventures Inc. (ATLC) Stock purchase agreement 0.2S $3 Investors BH Capital Investments LP and Excalibur Limited Partners agreed to purchase $3M of new Series B convertible preferred stock and warrants to purchase 201,000 shares of Atlantic s common stock (9/29)
Aviron (AVIR) Private placement of common stock 0.24S $8 Aviron sold 244,272 shares to Acqua Wellington Asset Management LLC for $8M, or $32.75 per share (9/6)
Axys Pharmaceuticals Inc. (AXPH) Private placement of convertible notes and warrants $26 Company agreed to sell $26M aggregate principal amount of 8% senior secured convertible notes maturing on Oct. 1, 2004 (9/21)
Cambridge Heart Inc. (CAMH) Private placement of shares and warrants 3.1S $8.40 The company received $8.4M for the sale of 2.4M unregistered shares at $3.50 each and warrants to purchase 716,850 shares, also at $3.50 each; the placement was made with a group of institutional investors led by Frontier Capital Management of Boston (9/13)
Commonwealth Biotechnologies Inc. (CBTE) Private placement of common stock $2.60 Company completed a $2.6M private placement of common stock and warrants to purchase common stock (9/27)
Cubist Pharmaceuticals Inc. (CBST) Issuance of convertible notes $39 Cubist issued $39M in convertible notes to John Hancock Life Insurance Co.; the five-year notes can be converted to stock at a premium to the market price (9/15)
Enchira Biotechnology Corp. (ENBC) Private placement of shares and warrants $12.80 Company raised $12.8M through the sale of shares and warrants; financing was led by OrbiMed Advisors LLC and included Oracle Investment Management and Zesiger Capital Group LLC (9/12)
Epix Medical Inc. (EPIX) Equity financing facility Company entered into an agreement with Acqua Wellington North American Equities Fund Ltd. for the sale of up to $45M of the company s common stock over the next 28 months (9/18)
Generex Biotechnology Corp. (GNBT) Equity line Generex received a commitment from a private investment fund to purchase up to $50M of the company s stock; the commitment was arranged by Ladenburg Thalmann & Co. (9/7)
Geron Corp. (GERN) Equity line Geron entered into an agreement with Acqua Wellington North American Equities Fund Ltd. for an equity financing facility covering the sale of up to $50M in company stock over the next 24 months (9/7)
Labopharm Inc. (TSE:DDS) Private placement of special warrants C$12 (US$8) The company completed the first tranche of a private placement of special warrants for C$12M with Canadian investors; issue price was $3.05 per special warrant; warrants will convert into common shares on a one-to-one basis (8/31)
LifeCell Corp. (LIFC) Private placement of common stock 2.5S $10 LifeCell placed 2.5M shares at $4 per share with selected accredited investors; Prudential Vector Healthcare Group and Gruntal & Co. LLC served as placement agents (9/5)
NeoTherapeutics Inc. (NEOT) Private placement of preferred stock $5 Company raised $5M through the private placement of preferred stock that is convertible into a 10% ownership of subsidiary NeoGene Technologies Inc. (9/25)
Ortec International Inc. (ORTC) Private placement of common stock 1.25S $8.42 Ortec entered an agreement to sell 1.25M shares to a select group of institutional investors; Stephens Inc. served as placement agent; the financing was led by Franklin Templeton Investments (9/21)
Palatin Technologies Inc. (AMEX:PTN) Private placement of stock and warrants 1.8S $10.80 Palatin received $10.8M in the first tranche of a private placement of up to $15M; European financial institutions purchased 1.8M shares at $6 each (9/19)
Pharmos Corp. (PARS) Issuance of convertible debentures $11 Pharmos issued $8M in convertible debentures due Feb. 28, 2002, and $3M in common equity, plus warrants exercisable into common stock; Ladenburg, Thalmann & Co. Inc. acted as placement agent (9/6)
Photogen Technologies Inc. (PHGN) Equity line Company signed a $40M equity line with Rochelle SA of London and filed a shelf registration statement to draw down the line (9/25)
Syn X Pharma Inc. (CDNX:SYN) Private special warrant placement $2.90 Syn X Pharma received the $2.9M held in escrow as part of a private placement announced in August (9/26)
Vertex Pharmaceuticals Inc. (VRTX) Sale of convertible subordinated notes $345 Vertex sold $300M of convertible subordinated notes due Sept. 2007 to institutional buyers, which exercised an option to purchase another $45M of notes to cover overallotments; the notes are convertible into Vertex stock at $92.26 per share (9/13)
OCTOBER
Advanced Tissue Sciences Inc. (ATIS) Private placement of common stock 3.5S $20 Advanced Tissue sold 3.5M shares to the State of Wisconsin Investment Board, raising $20M (10/3)
Alexion Pharmaceuticals Inc. (ALXN) Private placement of common stock 2.3S $209 Alexion, under its shelf registration statement, agreed to sell 2.3M shares to U.S. Bancorp Piper Jaffray Inc.; Alexion will receive net proceeds of $209M (10/27)
Alteon Inc. (AMEX:ALT) Private placement of common stock 2.8S $6.24 Alteon entered into an agreement to raise $6.235M through the placement of 2.8M shares at $2.20 per share to institutional investors, including funds managed by S.A.C. Capital Associates LLC, Narragansett Asset Management LLC and SDS Capital Partners LLC; as part of the transaction, the company issued warrants to purchase .4 shares of Alteon stock per share purchased, at $3.40 per share (10/2)
Aviron (AVIR) Private placement of common stock .173S $8 Aviron sold 173,142 shares to Acqua Wellington Asset Management LLC for $8M, or $46.20 per share (10/3)
Aviron (AVIR) Private placement of common stock 0.45 $21.60 Aviron placed 450,000 shares at $48 per share with Biotech Target, raising $21.6M (10/11)
Axonyx Inc. (AXYX) Common stock underwriting agreement N/A N/A Axonyx entered an agreement with Ramius Securities providing the company with the opportunity to issue and sell common stock from time to time over a two-year period, with Ramius serving as the underwriter; cash proceeds will be based on a formula equal to 97% of the volumeweighted average prices for specified days during a selling period (10/27)
Cellegy Pharmaceuticals Inc. (CLGY) Private placement of common stock 1.5S $11.60 Cellegy completed a private placement of 1.5M shares, raising $11.6M; participants included funds managed by Baker/Tisch Investments, Capital Research & Management and Framlington (10/3)
Cytogen Corp. (CYTO) Equity financing facility N/A Cytogen entered into an equity financing facility agreement for up to $70M with Acqua Wellington North American Equities Fund Ltd.; it can be drawn down over the next 20 months (10/10)
Epimmune Inc. (EPMN) Private placement of common stock .5S $2 Epimmune completed a private placement of .5M shares with private investor Peter Allard; the purchase price was $4 per share (10/16)
Generex Biotechnology Corp. (GNBT) Private placement of common stock N/A $23 Generex completed a $23M private placement, which represents an equity stake of about 11%; the placement was led by SmallCap World Fund and The Shemano Group acted as the placement agent; the share price was fixed at $11 and each purchaser received a 5-year warrant for additional shares exercisable at $13.20 per share (10/5)
Genta Inc. (GNTA) Private placement of common stock N/A $14.60 Genta raised $14.6M through the private placement of stock; Gruntal & Co. acted as lead adviser for the placement (10/2)
Helix BioPharma Corp. (TSE:HBP) Private placement of special warrants .815W C$4.075 (US$2.67) Helix received private placement subscriptions from several European investors for an aggregate of C$4.075M in special warrants; each of the 815,000 special warrants will be issued at a price of C$5, and will entitle the holder to acquire one common share and one-half of one share purchase warrant (10/25); company closed the private placement (10/27)
Inhale Therapeutic Systems Inc. (INHL) Private offering of convertible subordinated notes N/A $230 Inhale sold $230M aggregate principal amount of convertible subordinated notes, which includes a a $30M exercised overallotment option; the offering was made to qualified institutional buyers; the notes will be convertible into Inhale shares and will have a seven-year term (10/12)
Integra LifeSciences Holdings Corp. (IART) Private placement of common stock .33S $5 Integra issued 333,334 shares to ArthroCare Corp. (10/13)
Life Cell Corp. (LIFC) Private placement of common stock 2.5S $10 LifeCell completed the private placement of 2.5M shares at $4 per share; Prudential Vector Healthcare Group and Gruntal & Co. LLC served as placement agents (10/31)
MacroChem Corp. (MCHM) Private placement of common stock and warrants 1.8S $9 MacroChem raised $9M through the sale of 1.8M shares; investors also received five-year warrants to purchase a total of 363,332 additional shares at $5.90 per share; investors have committed to invest an additional $7M at MacroChem s option seven months after effectiveness of the SEC registration statement and subject to certain conditions; Leerink Swann & Co. acted as the placement agent (10/26)
Myriad Genetics Inc. (MYGN) Private equity placement 0.4 $41 Myriad received $41M in a direct private equity with Acqua Wellington North American Equities Fund Ltd.; Myriad sold 400,000 restricted shares of common stock (10/31)
NeoTherapeutics Inc. (NEOT) Private placement of common stock 1S $8 NeoTherapeutics sold 968,524 shares at $8.26 per share for $8M to two private institutional investors; the investors also received warrants to purchase 193,706 shares at $10.13 per share and warrants that may allow them to acquire more stock 30 and 60 days following the filing of the registration statement (10/5)
Ortec International Inc. (ORTC) Private placement of common stock 1.2S $8.40 Company raised $8.4M in a private placement of 1.2M shares to a group of institutional investors led by Franklin Templeton Investments; Stephens Inc. served as placement agent (10/2)
Palatin Technologies Inc. (AMEX:PTN) Final tranche of a private placement .73S $4.35 Company received gross proceeds of $4.35M in the second and final tranche of a $15.15M private placement of its common stock and warrants; investors purchased about 733,000 shares of common stock at $5.94 each; for every five shares purchased, investors also received a five-year warrant to purchase one share of stock at a 25% premium to the $5.94 per-share price; investors included Pictet, New Medical Technologies, BerNische Lehrerversicherungskasse, Privateq Advisors AG and a French group led by PrimeBiotech (10/23)
Theratechnologies Inc. (TSE:TH) Private placement of common stock .67S C$10 (US$6.65) Theratechnologies received a C$10M investment by issuing .67M shares at $15 per share to investors Societe d Investissements en Participations Inc., the Fonds Avix REA, the Fonds d investissement REA Inc. and the Dynamic QSSP Fund, among others (10/3)
ZymeTx Inc. (ZMTX) Sale of senior convertible debentures N/A $2 ZymeTx raised $2M from the sale of senior convertible debentures to funds managed by The Palladin Group LP; Granite Financial Group Inc. facilitated the transaction; the debentures mature in October 2002 and are initially convertible into ZymeTx stock at $3.12 each; Palladin also received warrants to purchase 180,000 shares (10/13)
NOVEMBER
Abgenix Inc. (ABGX) Private placement of common stock 3.3S $230 Abgenix entered into definitive purchase agreements for the sale of about 3.3M shares to selected institutional and other accredited investors for about $230M, or $70 per share; Robertson Stephens served as the placement agent (11/1)
Aradigm Corp. (ARDM) Equity financing agreement N/A Aradigm entered into a definitive agreement with Acqua Wellington North American Equities Fund Ltd. for the sale of up to $50M in stock over the next 20 months (11/8)
Aronex Pharmaceuticals Inc. (ARNX) Equity N/A Aronex entered a definitive agreement with Acqua Wellington North American Equities Fund Ltd. for equity financing covering the sale of up to $24M of Aronex s common stock during the next 28 months (11/30)
Aviron (AVIR) Private placement of common stock .15S $8 Aviron sold 153,448 shares to Acqua Wellington North American Equities Fund Ltd. for $8M, or $52.13 per share; the purchase price was determined based on the volume weighted average market price for an 18-day trading period (11/1)
Aviron (AVIR) Private placement of common stock .143S $8 Aviron sold 143,512 shares to Acqua Wellington North American Equities Fund Ltd. at $55.74 per share for $8M (11/29)
BresaGen Ltd. (AMEX:BGN) Private placement of common stock 10S $15.30 BresaGen raised $15.3M through the issuance of 10M shares (11/17)
Calypte Biomedical Corp. (CALY) Equity line financing N/A Calypte secured an equity line facility through Ladenburg Thalmann & Co. Inc. for $25M through the issuance of common stock to a private investment fund in a series of drawdowns over a 12month period (11/3)
Cell Genesys Inc. (CEGE) Private placement of common stock .75S $56.25 Cell Genesys sold about .75M shares of Abgenix Inc. as part of an Abgenix private placement; the shares were sold at $70 each; Robertson Stephens Inc. acted as a placement agent (11/1)
Cell Pathways Inc. (CLPA) Private placement of common stock and warrants 3.2S, 3.2W $7.38 Cell Pathways sold 3.2M shares and 3.2M warrants for $7.375 for each combined share and warrant; the warrants are for the purchase of 1.35M shares at $12 per share; Janney Montgomery Scott LLC and Jackson Boulevard Ventures LP acted as placement agents (11/10)
Connetics Corp. (CNCT) Public offering of InterMune Pharmaceuticals shares .9S $42.20 Connetics raised $42.2M through the sale of 900,000 InterMune Pharmaceuticals shares, reducing its stake in the company (11/16)
Curis Inc. (CRIS) Private placement of common shares 5.2S $46.80 Curis raised $46.8M through the placement of 5.2M shares; Prudential Vector Healthcare Group acted as the placement agent (11/16)
DepoMed Inc. (AMEX:DMI) Private placement of units 50U $5 DepoMed agreed to sell 50 units, consisting of 28,571 shares of common stock and four-year warrants to purchase about 7,143 shares of common stock at $5.50 per share, to OrbiMed Advisors LLC (11/3)
Endovasc Ltd. Inc. (OTC BB: ENDV) Convertible preferred stock placement N/A $1.50 Endovasc received the second $1.5M installment of a three-part $4.5M stock placement (11/14)
Genta Inc. (GNTA) Private placement of common stock 4.29S $28.90 Genta Inc. raised $28.9M in cash from the sale of 4.29M shares; lead institutional investors included SAC Capital, Narragansett Capital and Proquest investments (11/13)
Hemosol Inc. (TSE:HML) Senior credit facility N/A Hemosol signed a C$35M (US$22.7M) senior credit facility with the National Bank of Canada and the Bank of Nova Scotia (11/13)
Matritech Inc. (NMPS) Private placement of common shares .23S $1.20 Matritech sold 230,713 shares of common stock to Acqua Wellington North American Equities Fund Ltd. for $1.2M, or $5.20 per share (11/17)
NaPro BioTherapeutics Inc. (NPRO) Private placement of common shares 2S $17.50 NaPro raised $17.5M in the private placement; Stonegate Securities Inc. acted as placement agent (11/20)
Phytopharm plc (LSE:PYM.L) Private placement of common shares 1.76S US$15.35 Phytopharm raised US$15.35M through the private placement of 1.76M shares at 625 pence each (11/29)
Rigel Pharmaceuticals Inc. (RIGL) Private placement of common shares 1.43S $10 Novartis AG purchased 1.43M shares of Rigel stock in a private placement held concurrently with Rigel s IPO (11/28)
Steroidogenesis Inhibitors International Inc. (OTC BB:STGI) Common stock purchase agreement N/A STGI entered into an agreement with Fusion Capital Fund II LLC, whereby Fusion Capital will buy $10M of stock over a 25-month period; STGI also has the option to require Fusion Capital to enter into a second identical common stock purchase agreement for an additional $10M in common stock (11/13)
Titan Pharmaceuticals Inc. (AMEX:TTP) Private placement of common stock 1.2S $43.80 Titan sold 1.2M shares for $36.50 each, raising $43.8M; the shares were sold to selected institutional investors (11/16)
Valentis Inc. (VLTS) Private offering of 5% convertible redeemable preferred stock ND $29 Valentis raised $29M through the offering led by Perseus-Soros Biopharmaceutical Fund LP; Delta Opportunity Fund also participated (11/20)
VidaMed Inc. (VIDA) Private placement of common shares 4.425S $8.85 VidaMed raised $8.85M through a private offering of 4.425M shares at $2 each (11/21)
DECEMBER
Advanced Biotherapy Inc. (OTC BB:ADVB) Private placement of convertible subordinated debt N/A $1.50 Cappello Capital Corp. was the placement agent for the transaction (12/20)
AltaRex Corp. (TSE:AXO; ALRXF) Private placement of common shares 3.5S C$7.75 (US$5.14) AltaRex placed 3.5M shares with Dompe Farmaceutici SpA at C$2.20 per share (12/22)
Aradigm Corp. (ARDM) Private placement of common shares 0.115S $2.20 Aradigm sold 114,795 shares of its common stock to Acqua Wellington North American Equities Fund Ltd. for $2.2M (12/13)
Aviron (AVIR) Private placement of common stock 0.142S $8 Aviron sold 142,205 shares to Acqua Wellington North American Equities Fund Ltd. for $8M, or $56.26 per share (12/28)
Focal Inc. (FOCL) Private placement of common shares 2.4S $5 Focal agreed to sell 2.4M shares of its stock to Genzyme Surgical Products (GZSP) as part of a sales, marketing and financing agreement (12/11)
Gilead Sciences Inc. (GILD) Private placement of convertible subordinated notes N/A $250 Gilead said it would sell $250M of convertible subordinated notes to institutional investors in a private placement, and will add $50M to the offering to cover overallotments, if any; the notes will have a seven-year term and will be redeemable after Dec. 20, 2003 (12/14)
Hemosol Inc. (TSE:HML) Subordinated credit financing N/A $12.50 Hemosol entered a $12.5M subordinated credit financing with The Manufacturers Life Insurance Company (12/19)
Interleukin Genetics Inc. (ILGN) Private placement of common stock and warrants 0.5S and 0.14W $2 Interleukin Genetics raised $2M in a private placement with a worldwide investor; the placement was managed entirely by the company and involved the issuance of 542,373 shares of common stock priced at $3.6875 and 135,593 warrants priced at $4.83 per share (12/19)
NeoGene Technologies Inc. (unit of Neotherapeutics Inc.; NEOT) Private placement of preferred stock N/A $2 NeoGene raised $2M through the private placement with Societe Generale of preferred stock that is convertible into a 4% ownership interest (12/20)
Novavax Inc. (AMEX:NOX) Private placement of convertible debentures N/A $25 King Pharmaceuticals Inc. (NYSE:KG) agreed to make a $25M convertible debenture investment; the note is convertible into Novavax; Novavax received $20M and will receive an additional $5M when it files an NDA for Estrasorb (12/20)
Phage Therapeutics International Inc. (OTC BB:PTXX) Private placement of units consisting of stock and warrants 2.143U $5 Seven purchasers paid $1.5M for 2.143 units, consisting of one share and one warrant to purchase stock; they will pay another $1.5M for another 2.143M units soon; with the exercise of the warrants the company expects to receive an additional $1M after the first step is completed and another $1M a year after the second step is completed; total raised will be $5M (12/20)
Protalex Inc. (OTC BB:PRTX) Private placement of common stock N/A $0.50 Protalex raised $500,000 in a private placement of its common stock (12/12)
Ribozyme Pharmaceuticals Inc. (RZYM) Equity financing facility Ribozyme signed an agreement with Acqua Wellington North American Equities Fund Ltd. to set up an equity financing facility covering the sale of up to $60M in stock over the next 28 months; the financing is pursuant to a shelf registration for the sale of up to 3M shares (12/29)
SciClone Pharmaceuticals Inc. (SCLN) Private placement of a senior unsecured convertible note 0.408 $4.90 SciClone said UBS AG purchased a $4M senior unsecured convertible note that is convertible into 407,610 shares at $9.81 per share; SciClone also received $900,000 for granting the investor the right to purchase an additional $5.9M of convertible notes (12/19)
Unigene Laboratories Inc. (OTC BB: UGNE) Private placement of common stock N/A $21 Unigene entered into an agreement with Fusion Capital Fund II LLC, which will purchase up to $21M of Unigene s common stock over a 24-month period; Gruntal & Co. LLC acted as the financial adviser (12/19)
Notes:
ND = Not disclosed, reported and/or available; S = Shares; U = Units; W = Warrants
The financings in this chart include loans, bridge financings, as well as debt offerings, rights offerings, exercises of warrants, institutional offerings of registered stock and standard private placements.
All stocks listed on Nasdaq exchange unless otherwise noted.
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CNDX = Canadian Venture Exchange; LSE = London Stock Exchange; OTC BB = Over The Counter Bulletin Board; TSE = Toronto Stock Exchange; VSE = Vancouver Stock Exchange