I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $448.6M

Company

Location

Date

Amt. (M)

Details

AviGenics Inc.*

Athens, Ga.

10/24

$10

AviGenics raised over $10M in its second venture capital financing with the private placement of preferred stock to institutional investors; Stephens Group Inc. acted as the lead investor; investors included T.D. Javelin, Cordova Technology Partners and Kitty Hawk Capital, as well as T.D. Lighthouse, Fuqua Ventures and two large private investment funds

Cellomics Inc.*

Pittsburgh

10/16

$30

Cellomics completed a private placement of Series C preferred stock, raising $30M; the placement was led by a group of funds managed by Amerindo Investment Advisors; new investors included Invesco Global Health Sciences Fund, Alta Partners, Burrill Biotechnology Capital Fund, BayStar Capital, Ariane Health Fund, LCF Rothschild and Biosphere Existing Investors, as well as InterWest Partners and Vector Fund Management

Diatos SA*

Paris

10/17

US$13.2

Diatos raised US$13.16M through an international private financing co-led by GIMV and InterWest Partners; it included Societe Generale Asset Management, AGF Private Equity, Sopartec and Sofinnova Partners

FeRx Inc.*

San Diego

10/23

$6.1

FeRx completed a Series C private round of financing, raising $6.1M; investors included Brentwood Venture Capital, Whittier Ventures LLC, California Technology Venture Partners and several Canadian institutional investors arranged through Jennings Capital

Galileo Laboratories Inc.*

Santa Clara, Calif.

10/31

$31

Galileo raised $31M in a third-round venture financing; investors included North Castle Partners, H&Q Life Sciences, H&Q Healthcare, Sofinov, The Chatterjee Group, Alloy Ventures, Brinson Partners, Bay City Capital and CMEA Life Sciences

GeneFormatics Inc. *

San Diego

10/6

$15

GeneFormatics raised $15M in a Series B financing led by the Perseus-Soros BioPharmaceutical Fund LP, Merrill Lynch Ventures, OrbiMed Advisors and GeneChem Management, as well as Burrill & Co., Inglewood Ventures and Moss Forest Venture

Genomics Collaborative Inc.*

Cambridge, Mass.

10/11

$36

The financing was led by Invesco Private Capital and included Whitney & Co., Applied Genomic Technology Capital Funds, Oracle Partners, the Economic Development Board, and others

Hybrigenics*

Paris

10/3

EUR19.5 US$17.3

Hybrigenics raised US$17.3M in a private placement; investors included Apax Partners, Auriga, IMH, HealthCap, Alafi Capital, Lombard Odier, Rendex NV, Sofindev and Medicis AG

Hypnion Inc.*

Worcester, Mass.

10/5

$10.4

Hypnion raised $10.4M in a Series A private equity financing; Oxford Bioscience Partners led the financing, along with Applied Genomic Technology Capital Fund LP and GIMV

MethylGene Inc.*

Montreal

10/4

$18.6

MethylGene completed a new round of private funding, raiding $18.6M; investors included Fonds de solidarite FTQ, Sofinov, GeneChem Technologies Venture Fund LP, Canadian Medical Discovery Fund Inc., Royal Bank Capital Partners and Investissement BioCapital Inc.

Neurome Inc.

La Jolla, Calif.

10/20

$9

Neurome raised $9M in initial financing; investors included Digital Gene Technologies, Elan Corp. plc, and a group of private biotech investors; initial shareholders also include The Scripps Research Institute, Mount Sinai School of Medicine and company founders Floyd E. Bloom, John H. Morrison and Warren G. Young

Ontogen Corp.*

Carlsbad, Calif.

10/13

$16.4

Ontogen completed a $16.4M private placement through the sale of its Series D preferred stock; investors included Lombard Odier & Cie, and the Johnson & Johnson Development Corp.

Provalis plc*

Deeside, Wales

10/25

#10.8 US$15.6

Provalis' share placing and open offer raised US$15.6M after expenses

Renovo Ltd.*

London

10/25

#8 US$11.6

Renovo, a spinout from Manchester University, raised US$11.6M in its first round of funding to develop treatments to prevent scarring and accelerate wound healing

SemBioSys Genetics Inc.*

Calgary, Alberta

10/20

C$16.6 US$10.9

SemBioSys completed a C$16.56M private placement of Series A preferred stock; the financing was led by Bay City Capital LLC and included Ventures West, the Business Development Bank of Canada and Royal Bank Capital Partners.

StemCo Biomedical Inc.*

Durham, N.C.

10/18

$4

StemCo closed on a first round of venture capital financing of $4M; Intersouth Partners led the investment with participation from The Aurora Funds

Syrrx Inc.*

San Diego

10/3

$20

Syrrx completed a $20M Series B round of venture financing; placement was led by MPM Asset Management and included Versant Ventures, Chemicals and Materials Enterprise Associates, Bay City Capital, Lombard Odier & Cie and Alejandro Zaffaroni

Zarix Inc.*

Berwyn, Pa.

10/4

$23.5

Zarix closed a private placement of Series C convertible preferred shares, raising $23.5M; Investors included Sofinov, the Ontario Teacher's Pension Plan, BioAsia Investments LLC, EJ Financial Enterprises Inc., the New York Life Insurance Co. and Veron International

ZymoGenetics Inc.*

Seattle

10/23

$150

Novo Nordisk AS (Denmark; NYSE:NVO) took steps to establish its fully owned subsidiary as an independent corporate entity by signing a $150M private placement into ZymoGenetics from an international investor consortium led by E.M. Warburg, Pincus & Co. LLC

II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM EXISTING CORPORATE PARTNERS: $18.55M

Company (Symbol)#

Partner (Symbol; Country)

Amt. (M)

Triggering Event

Details (Date)

Abgenix Inc. (ABGX)

Pfizer Inc. (NYSE:PFE)

ND

Regulatory milestone

Abgenix received an undisclosed milestone payment for filing an IND application for a fully human monoclonal antibody product candidate to treat cancer, which was generated with Abgenix's XenoMouse technology (10/2)

Alkermes Inc. (ALKS)

Amylin Pharmaceuticals Inc. (AMLN)

$0.5

Development milestone

Amylin made a milestone payment to Alkermes of $500,000 for the completion of the feasibility stage of their collaboration for the development of an injectable long-acting release formulation of AC2993 to treat Type II diabetes (10/17)

Arena Pharmaceuticals Inc. (ARNA)

Taisho Pharmaceutical Co. Ltd. (Japan)

ND

Development milestone

Arena has achieved several financial research and development milestones related to acceptance by Taisho of a CART-activated version of a G protein-coupled receptor target and a request that Arena screen the receptor using Arena's in-house chemical library (10/23)

Aviron (AVIR)

SmithKline Beecham Biologicals (NYSE:SBH)

$1.5

Development milestone

Aviron received a $1.5M milestone payment as a result of the start of a Phase II trial to investigate a vaccine against the Epstein-Barr virus (10/25)

Chronix Biomedical*

Hemispherx Biopharma Inc. (AMEX:HEB)

ND

Equity investment

Hemispherx completed an equity investment in Chronix as part of their alliance on the development of new diagnostic products for the various stages of gene reshuffling (10/31)

Cubist Pharmaceuticals Inc. (CBST)

Novartis Pharma AG (NYSE:NVS)

$0.5

Discovery milestone

Cubist will receive a $500,000 milestone payment for the delivery of a validated target and a high-throughput screening assay for anti-infective drug discovery in its collaboration with Novartis (10/3)

deCode Genetics (Iceland; DCGN)

F. Hoffmann-La Roche

ND

Discovery milestone

deCode scientists and Icelandic psychiatrists identified a gene linked to schizophrenia (10/20)

HiberGen Ltd.* (Ireland)

Trinity Biotech plc (TRIBY)

$1.3

Equity investment

Trinity Biotech acquired 33.3% of the share capital of HiberGen for a consideration of $1.3M (10/5)

Integra Life-Sciences Holdings Corp. (IART)

Ethicon Inc. (a Johnson & Johnson Co.)

$0.75

Clinical and research milestone

Integra received $750,000 in connection with the completion of one of the clinical and research payment events under the strategic alliance for Integra Dermal Regeneration Template (10/13)

Ligand Pharmaceuticals

Eli Lilly & Co. (NYSE:LLY)

ND

Discovery

Ligand received undisclosed milestone payments from Lilly as LY510929 and a back-up compound were declared clinical candidates for Type II diabetes and cardiovascular disease (10/4)

MediciNova Inc.*

Tanabe Seiyaku Co. Ltd. (Japan)

$5

Equity investment

MediciNova received its first $5M equity investment from Tanabe, which has committed an additional $5M investment within one year (10/6)

Pharmasset Ltd.*

DuPont Pharmaceuticals Co. (NYSE:DD)

ND

Equity

The investment, about one year after the initiation of a research collaboration between the companies, increases DuPont's ownership in Pharmasset from 1.7% to about 2.2% (10/10)

Unigene Laboratories Inc.

Pfizer Inc. (NYSE:PFE)

ND

Development

Unigene received a milestone payment from Pfizer associated with the ongoing clinical studies for its oral calcitonin program (10/26)

Vertex Pharmaceuticals Inc. (VRTX)

Glaxo Wellcome plc (UK; NYSE:GLX)

$3

Milestone

Vertex will receive a $3M milestone payment in the fourth quarter for European approval to market Agenerase for HIV (10/23)

ViroPharma Inc. (VPHM)

American Home

$6

Milestone Products Corp. (NYSE:AHP)

ViroPharma sold 96,059 shares for $3M to American Home Products as a result of progress made under the companies' hepatitis C virus collaboration; the price per share was based on a premium to a trailing average price (10/6); ViroPharma announced it sold an additional 104,934 shares for $3M as a result of further progress made under the collaboration (10/24)

Notes:

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

*Denotes privately held company.

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