TOTAL: $190.3M

Company (Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised ($M)*

Investors; Placement Agents; Details (Date)@

Aeterna Laboratories Inc. (AELA)

Bought deal for subordinate voting shares

1.06S

C$14 (US$9.29)

Aeterna raised C$14M (US$9.29M) in a a bought deal sale of 1.056M subordinate voting shares at C$13.25 (US$8.79) each; underwriters have an overallotment option for an additional 0.16M shares; underwriting syndicate was led by Yorkton Securities Inc. and included HSBC Securities Inc., Canaccord Capital, BLC Securities Inc., and Desjardins Securities Inc. (all of Canada) (5/25)

Ariad Pharmaceuticals Inc. (ARIA)

Exercise of warrants

1.4S

$11.7

Ariad raised $11.7M from the exercise of 1.4M warrants to buy shares one-for-one at $8.40 per share (5/3)

Aviron (AVIR)

Private placement of common stock

0.349S

$8

Under previously filed registration form S-3, Aviron sold 0.349M shares to Acqua Wellington Management LLC at $22.92 per share, for a total of $8M (5/12)

Cyanotech Corp. (CYAN)

Private placement of convertible subordinated

­

$1.1

Cyanotech netted $1.1M through a placement of 6% convertible subordinated debentures due 2002 and covertible into common stock at $1.50 per share; Taglich Borthers Inc. managed the placement (5/4)

Endovasc Ltd. (OTC BB:ENDV)

Private placement of preferred stock

ND

$1.5

Endovasc will receive $4.5M in three installments of $1.5M each, the first of which has been successfully funded; the placement was facilitated by J.P. Turner & Co. (5/10)

InKine Pharmaceutical Inc. (INKP)

Private placement of common stock

2.8S

$10.8

InKine raised $10.8M through a private placement of approximately 2.8M shares of common stock to investors including funds managed by Cahill, Warnock & Co.; Baker Street Capital Management; Worthington Growth LP; and Furman Selz Capital Management; Leerin Swann & Co. acted as placement agent (5/8)

InSite Vision Inc. (AMEX ISV)

Private placement of common stock

3.35S and warrants for 1.172S

$13

InSite netted $13M in a private placement of 3.35M shares of common stock and warrants

Maxim Pharmaceuticals (MAXM)

Sale of program

­

$3

Maxim completed an agreement to sell all assets underlying its MaxVax mucosal vaccine, and to settle an arbitration related to the technology, for $3M (5/26)

MGI Pharma Inc. (MOGN)

Registered direct placement

1S

$18

MGI sold 1M shares at $18 each through a registered direct placement of shares to institutional investors; placement was led by U.S. Bancorp Piper Jaffray, with Banc of America Securities LLC and CIBC World Markets as co-placement agents (5/25)

NeoTherapeutics Inc. (NEOT)

Private placement of common stock

0.5S

$7

NeoTherapeutics raised $7M through the sale of 0.5M shares at $14 each to a Canadian financial institution, which also received a five-year warrant to purchase up to 0.125M shares at $17.50 per share; Dlouhy Investments Inc. (Canada) acted as placement agent (5/2)

Proteome Sciences plc (UK; LSE:PRM)

Placing of ordinary shares

9.93S

#4.47 (US$6.93)

Proteome placed 9.93M shares at 45 pence (US$0.70) each, for a total of #4.47M (US$6.93M); 3.78M shares were placed directly and 6.16M shares were placed through an open offer; West LB Panmure served as broker (5/2)

Transkaryotic Therapies Inc. (TKTX)

Private placement of preferred stock

­

$100

Transkarytoic raised $100M through the sale of convertible preferred stock to E.M. Warburg, Pincus & Co. LLC; stock is convertible into approximately 3.57M shares of common stock at a conversion price of $28 per share (5/19)

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