Other Financings Of Public Biotechnology Companies: |
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October 2000 |
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TOTAL: $643.12 |
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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: |
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# Unless otherwise indicated, shares are traded on the Nasdaq exchange. |
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* Non-U.S. currencies converted at the exchange rate on the date of the announcement. |
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@ Dates refer to the date of the press release. |
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ASX = Australian Stock Exchange |
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LSE = London Stock Exchange |
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TSE = Toronto Stock Exchange |
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VSE = Vancouver Stock Exchange |
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OTC BB = Over The Counter Bulletin Board |