TOTAL: $534.42M

Company (Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised ($M)

Investors; Placement Agents; Details (Date)@

Access Pharmaceuticals Inc. (AMEX:AKC)

Private convertible note offering

­

$13.5

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

$8.4

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

­

$2.6

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

­

$12.8

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

$10.8

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

­

$2.9

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, who 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)

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

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