Total: $519.8M

Company (Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised ($M)*

Investors; Placement Agents; Details(Date)@

Aeterna Laboratories Inc. (Canada;TSE:AEL)

Bought deal


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



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


#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



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 Immuno therapeutics Inc.(AVAN)

Private placement of common stock



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



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 (BJCT)

Private placement of common stock



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



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



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



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



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



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 Banc of America Securities LLC served as price); 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)


Private placement of common stock



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. (Canada; TSE:ONC)

Private placement of common stock


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.(Israel; TEVA)

Multicurrency five-year term loan credit facility



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 (TSE:TH)

Exercise of warrants


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



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


#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)


# 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