Other Financings Of Public Biotechnology Companies:

October 2000

TOTAL: $643.12

Company (Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised (M)

Investors; Placement Agents; Details (Date)@

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

$6.235

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

.45

$21.6

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 volume-weighted average prices for specified days during a selling period (10/27)

Cellegy Pharmaceuticals Inc. (CLGY)

Private placement of common stock

1.5S

$11.6

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

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. (Canada; 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

$14.6

Genta raised $14.6M through the private placement of stock; Gruntal & Co. acted as lead adviser for the placement (10/2)

Helix BioPharma (Canada; 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 $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 Life-Sciences 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

.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

$8.4

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 Prime-Biotech (10/23)

Theratechnologies

Private placement of common stock

.67S

C$10

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)

Notes:

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

* Non-U.S. currencies converted at the exchange rate on the date of the announcement.

@ Dates refer to the date of the press release.

ASX = Australian Stock Exchange

LSE = London Stock Exchange

TSE = Toronto Stock Exchange

VSE = Vancouver Stock Exchange

OTC BB = Over The Counter Bulletin Board

No Comments