TOTAL: $3,530.2M | ||||
Company (Symbol)# |
Type Of Financing (M) |
Number Of Shares, Units Or Warrants | Amount Raised ($M)* |
Investors; Placement Agents; Details (Date)@ |
American Biogenetic Sciences Inc. (OTC BB: MABA) | Private placement of preferred shares | $3 |
Biotechnology Value Fund L.P. and affiliates agreed to invest $3M in Series A preferred stock (2/10) |
|
AMRAD Corp. Ltd. (ASX:AML) | Sale of division | A$14 (US$8.9) | CHEMICON International Inc. agreed to pay A$14M (US$8.9M) for the assets of AMRAD Biotech, the biotechnology reagents division of AMRAD (2/3) |
|
Affymetrix Inc. (AFFX) | Private placement of convertible subordinated notes | $225 | Affymetrix raised $175M in private placement of 4.75% convertible subordinated notes due 2007; notes are convertible into common stock at $321 per share (2/9); exercise of overallotment option raised an additional $50M, for a total of $225M (2/11) | |
Alkermes Inc. (ALKS) |
Private placement of convertible subordinated notes | $200 |
Alkermes raised $200M in private placement of 3.75% convertible subordinated notes due 2007; notes are convertible into common stock at $135.50 per share, subject to adjustment in certain circumstances; purchasers have an option to buy up to $50M more in principal amount of the notes (2/16) |
|
Alliance Pharmaceutical Corp. (ALLP) |
Private placement of subordinated convertible debentures |
$15 | Alliance signed agreements with three shareholders to raise $15M in a placement of subordinated convertible debentures; conversion price is $9.65 per share, subject to certain antidilution provisions; investors have the option to purchase an additional $15M of similar debentures convertible at $12.06 per share for four years; Alliance has certain rights to require the investors to purchase the additional debentures (2/11) | |
AltaRex Corp. (Canada; TSE:AXO) | Private placement of special warrants | 5.66W | C$6 (US$4.14) |
Each special warrant, priced at C$1.06 (US$0.73), is convertible into one common share of AltaRex stock (or, in certain circumstances, 1.1 common shares) (2/18) |
Amylin Pharmaceuticals Inc. (AMLN) |
Private placement of common stock |
8.3S |
$100 | Amylin sold 8.3M shares for $12 per share, representing a discount of about 4% from the prior 20-day average trading price; investors include two funds managed by Capital Research and Management Company (Growth Fund of America and SMALLCAP World Fund), Deerfield Management Company and INVESCO Funds Group; co-lead placement agents were Prudential Vector Healthcare Group, Warburg Dillon Read LLC and Chase H&Q (2/22) |
Aurora Biosciences Corp. (ABSC) |
Private placement of common stock |
1.8S | $75 |
Aurora sold 1.8M shares of common stock at $42 per share for gross proceeds of $75M (2/7) |
AVANIR Pharmaceuticals (AVNR) |
Private placement of common stock |
2.6S; 0.26W | $6 | AVANIR raised $6M through the sale of 2.6M shares of Class A common stock for $2.28 per share ($0.28 above the closing bid price on 1/31); the company also issued warrants to acquire up to 0.26M shares of common stock at an exercise price of $2.44 per share; financing was conducted through Landenburg Thalmann & Co. Inc. (2/3) |
Aviron (AVIR) |
Private placement under previous registration |
0.31S |
$6 |
Under previously filed registration form S-3, Aviron sold 0.31M shares to Acqua Wellington Asset Management LLC at $19.36 per share, raising gross proceeds of $6M; Aviron may sell up to $48M in shares to Acqua over 12 months (2/3) |
Axys Pharmaceuticals Inc. (AXPH) |
Private placement of common stock |
3.5S | $31.5 |
Axys sold 3.5M shares of common stock at for aggregate gross proceeds of $31.5M; FleetBoston Robertson Stephens acted as placement agent (2/17) |
Biomira Inc. (BIOM) |
Equity line | $ - | Biomira's equity line of financing was increased to $100M from the $36M announced 8/99; number of shares issuable remains unchanged; share price for each drawdown is based on the average trading price of Biomira's common stock; company may draw down capital in installments of up to $10M (2/1) |
|
BioTransplant Inc. (BTRN) | Private placement of common stock | 1.2S | $9.7 | BioTransplant sold 1.2M shares of common stock at approximately $8 per share for proceeds of $9.7M; Evolution Capital, a subsidiary of the Carson Group, acted as placement agent (2/14) |
Boston Biomedica Inc. (BBII) |
Exercise of warrants |
0.5S | $2.2 | The Paradigm Group (Northbrook, Ill.) and related parties exercised warrants to buy up to 0.5M shares common stock for an aggregate price of $2.2M; Paradigm bought 0.4M shares at $4.25 each and 0.1M shares at $5.25 each; warrants were purchased 8/99, with National Securities Corp. acting as financial adviser and placement agent for Boston Biomedica (2/17) |
Cell Genesys Inc. (CEGE) |
Selling stockholder participation in public offering |
0.97S |
$202.9 ($193.7 net) |
Cell Genesys sold 0.97M shares of Abgenix Inc. (ABGX) in Abgenix's public offering (see p. 3) at $210 per share, for gross proceeds of $202.9M and net proceeds of $193.7M; the figures take into account the exercise of the underwriters' overallotment option for 0.126M of Cell Genesys' shares in Abgenix (2/11) |
Cell Therapeutics Inc. (CTIC) |
Private placement of common stock |
3.33S |
$40 |
Cell Therapeutics sold 3.33M shares at $12 per share for gross proceeds of $40M; investors included Proquest Investments LP, Vulcan Ventures Northwest, Icahn Associates, PIMCO Equity Advisors and Essex Woodlands Healthcare Ventures (2/17) |
Celsion Corp. (OTC BB:CELN) | Private placement of convertible preferred stock | $4.8 |
Celsion raised $4.8M ($4.2M net) in a private placement of Series A 10% convertible preferred stock; Joseph Charles & Associates Inc. acted as placement agent (2/3) |
|
CeNeS Pharmaceuticals plc (UK; LSE:CEN) |
Private placement of ordinary shares | 2.85S |
£2.1 (US$3.4) | CeNeS raised £2.1M (US$3.4M) through a placement of 2.85M shares at 75p (US$1.21) each (2/18) |
Cerus Corp. (CERS) |
Private placement of common stock | 1S | $25 | Cerus sold 1M shares at $25 per share for gross proceeds of $25M to institutional and other accredited investors, including Baxter Healthcare Corp. (NYSE:BAX); Prudential Vector Healthcare Group assisted Cerus with the financing (2/17) |
COR Therapeutics Inc. (CORR) |
Private placement of convertible subordinated debentures |
$300 | COR sold $250M principal amount of 5% convertible subordinated notes due 2007 (2/18); notes are convertible, subject to adjustment in certain circumstances, into COR common stock at $67.56 per share; exercise of overallotment option raised an additional $50M (2/25) |
|
Corvas International Inc. (CVAS) | Exercise of warrants | ND | $8.7 |
Corvas received $8.7M when two investors in a 2/96 financing Weiss Peck & Greer and International Biotechnology Trust plc (an investment trust of Rothschild Asset Management) exercised warrants to purchase shares; each warrant allows purchase of 1 share of common stock (2/10) |
CuraGen Corp. (CRGN) | Private placement of convertible subordinated debentures | $25 | CuraGen raised an additonal $25M when initial purchasers of 6% convertible subordinated debentures due 2007 exercised overallotment option to purchase an additional $25M in notes; debentures are convertible into CuraGen common stock at $127.655 per share, subject to adjustment in certain circumstances; total raised, including overallotments, is $150M (2/14) | |
Discovery Laboratories Inc. (DSCO) |
Exercise of warrants |
ND | $2.2 | OrbiMed Advisors LLC exercised warrants to buy $2.2M of stock (2/25) |
DUSA Pharmaceuticals Inc. (DUSA) |
Private placement of common stock | 1.5S |
$42.75 | DUSA received $42.75M from funds managed by Invesco Funds Group in Denver; Invesco bought 1.5M shares at $28.50 per share, a 5% discount to the 2/16 closing price (2/24) |
Epimmune Inc. (EPMN) |
Private placement of common stock |
1.2S | $4.3 | Epimmune sold 1.2M shares of common stock at $3.60 per share (a 15% discount to the prior 30-day trading average) for gross proceeds of $4.3M; investors were the State of Wisconsin Investment Board and the Biotechnology Value Fund LP (2/15) |
Epoch Pharmaceuticals Inc. (OTC BB: EPPH) |
Private placement of common stock |
1.4S |
$10 |
Epoch sold 1.4M common shares at $7 per share for a total of $10M; investor group includes Amerindo Investment Advisors, Lone Pine Capital, Oracle Partners, Hilspen Capital Management, Merlin Biomed, Narragansett I LP and Narragansett Offshore Ltd.; First Security Van Kasper assisted in the placement of the shares (2/16) |
GenSci Regeneration Sciences Inc. (TSE:GNS) |
Private placement of special warrants |
10.34W |
C$15 (US$10.3) |
GenSci raised C$15M (US$10.3M) through a private placement of special warrants; each is exercisable for one common share at C$1.45 (US$1.00); HSBC Securities Inc. led the placement syndicate, which included Yorkton Securities (2/28) |
Human Genome Sciences Inc. (HGSI) |
Private placement of convertible subordinated debentures |
$225 |
HGS sold $150M of 5% convertible subordinated notes due 2007 (1/27); initial investors bought another $75M of the notes, which are convertible at $112.50 per share (2/1) | |
ID Biomedical Corp. (IDBE) |
Private placement of special warrants | 3.6W |
C$20 (US$13.68) |
ID Biomedical sold 3.6M special warrants at C$5.50 (US$3.76) each for a total of C$20M (US$13.68M); Dlouhy Investments and Yorkton Securities co-led the placement syndicate, which also included Haywood Securities; each warrant will be exercisable for 1 common share and 0.5 common share purchase warrant ; each whole warrant entitles the holder to buy 1 common share at C$6.50 (US$4.45) (2/24) |
ImClone Systems Inc. (IMCL) |
Private placement of convertible subordinated notes | $200 | ImClone sold $200M of 5.5% convertible subordinated notes due 2005; notes are convertible into common stock at $110.18 per share, subject to adjustment in certain events; purchasers have an option to purchase up to $40M more in principal amount of the notes (2/24) | |
Immunomedics Inc. (IMMU) |
Private placement of common stock | 2.3S | $37.2 |
Immunomedics sold 2.325M shares at $16 per share for proceeds of $37.2M; placement was managed by Sutro & Co. Inc. |
Incyte Pharmaceuticals Inc. (INCY) |
Private placement of convertible subordinated notes | $200 | Incyte sold $150M of 5.5% convertible subordinated notes due 2007 (2/1); notes are convertible into common stock at an initial conversion price of approximately $134.84 per share; exercise of overallotment option raised an additional $50M (2/15) |
|
Private placement of common stock | 2S | $422 | Incyte sold 2M shares at $211 per share for a total of $422M (2/23) | |
Inhale Therapeutic Systems Inc. (INHL) |
Private placement of convertible subordinated notes | $230 | Inhale sold $200M of 5% convertible subordinated notes due 2007 (2/4); exercise of overallotment option raised an additonal $30M; notes are convertible at $76.71 per share, subject to adjustment in certain circumstances (2/14) | |
Integra LifeSciences Holdings Corp. (IART) | Private placement of convertible preferred stock | 0.054S (preferred) | $5.4 | Investment affiliates of Soros Private Equity Partners LLC agreed to invest $5.4M in Integra by purchasing 0.054M shares of Series C convertible preferred stock (convertible into 0.6M shares of common stock) and warrants to purchase an additional 300,000 shares of common stock at $9 per share (2/17) |
Invitrogen Corp. (IVGN) |
Private placement of convertible subordinated notes | $150 | Invitrogen raised $150M in private placement of 5.5% convertible subordinated notes due 2007; notes are convertible into Invitrogen common stock at $85.20 per share; initial purchasers have an option to purchase an additional $22.5M of notes for overallotments (2/25) |
|
La Jolla Pharmaceutical Co. (LJPC) |
Private placement of common stock |
4.04S |
$13.64 |
La Jolla sold 4.04M shares of common stock at $3.375 per share for proceeds of $13.6M; Pacific Growth Equities Inc. served as placement agent (2/10) |
LJL BioSystems Inc. (LJLB) | Private placement of common stock | 1.76S | $19 | LJL sold 1.76M shares of common stock at $11 per share to new and current investors, raising a total of $19M; FleetBoston Robertson Stephens served as placement agent (2/2) |
Martek Biosciences Corp. (MATK) |
Private placement of common stock and warrants | 0.85S; 0.25W |
$10.25 | Martek raised $10.25M by selling 0.85M shares of common stock at $12.12 per share; investors also received three-year warrants to purchase 0.25M shares of common stock at $14.55 per share, a 20% premium over the common stock price (2/8) |
Neoprobe Corp. (OTC BB:NEOP) | Sale of equity in another firm | ND | $1.5 | Neoprobe sold equity interest in XTL Biopharmaceuticals Ltd., a privately held Israeli company, for $1.5M; Neoprobe retains options to license certain applications of XTL's technology (2/7) |
NeoRx Corp. (NERX) | Sale of stock in another firm |
ND | $4 | NeoRx raised approximately $4M from the sale of shares in Angiotech Pharmaceuticals Inc. (ANPI); NeoRx received the stock as part of 11/98 licensing agreement under which NeoRx licensed its paclitaxel technology for non-oncology applications to Angiotech (2/9) |
Novavax Inc. (AMEX:NOX) |
Private placement of common stock and warrants |
2.8S; 0.7W |
$11.25 |
Novavax raised $11.25M through the sale of 2.8M shares at $4 and 0.7M warrants exercisable at $6.75; Jesup & Lamont Securities Corp. managed the placement (2/2) |
NPS Pharmaceuticals Inc. (NPSP) | Private placement of common stock |
3.9S | $46.8 | NPS raised $46.8M in private placement of 3.9M shares of common stock at $12 per share Prudential Vector Healthcare Group served as placement agent (2/7) |
Organogenesis Inc. (AMEX: ORG) |
Private placement of common stock | 0.79S | $11 | Organogenesis sold 0.79M shares at $14 per share under shelf registration filed 12/99; Gruntal & Co. acted in an agency capacity in oversubscribed initial offering from shelf registration (2/25) |
Orphan Medical Inc. (ORPH) |
Private placement of common stock | 1.265S |
$10.1 |
Orphan Medical sold 1.265M shares at $8 per share to entities managed or advised by OrbiMed Advisors LLC for a total of $10.1M (2/22) |
Private placement of common stock | 0.1S |
$1 |
Orphan raised $1M through the sale of 0.1M shares at $10 each to DG Lux Lacuna Apo BioTech Fund, managed by Medical Strategy (2/25) |
|
OSI Pharmaceuticals Inc. (OSIP) | Private placement of common stock |
3.325S | $56 | OSI raised $56M through a private placement of 3.325 shares of common stock at $16.84 per share; FleetBoston Robertson Stephens acted as placement agent; key institutional investors include Janus Healthcare Fund, The SMALLCAP World Fund (managed by Capital Research International), UK-based International Biotechnology Trust (managed by Rothschild Asset Management), and Biotechnology Value Fund; Prudential Vector Healthcare Group and Lazard Freres & Co. served as financial advisers on the transaction (2/25) |
Pharmos Corp. (PARS) |
Private placement of common stock |
3S | $7.3 | Pharmos raised $7.3M by issuing an aggregate total of 3M shares under a 6/99 shelf registration; shares were priced in a range between $2.375 and $2.50 per share (2/10) |
PPL Therapeutics plc (LSE:PTH) |
Facility funding |
| £42 (US$67.2) | PPL obtained a funding package to build production facility at an estimated cost of £42M (US$67.2M); funds will be made available through Scottish Enterprise, Royal Bank and other sources (2/22) |
Procyon BioPharma Inc. (Canada; VSE:PBP) | Private placement of common stock |
ND |
C$0.5 (US$0.35) |
Yorkton Securities Inc. exercised its final option to acquire an additional 0.2M common shares; employees, directors and other shareholders also exercised options; proceeds to the company were C$0.5M (US$0.35M) (2/1) |
Private placement of common stock | ND | C$0.4 (US$0.28) | Innovatech du Grand Montreal purchased common shares worth C$0.4M (US$0.28M) (2/10) |
|
Progen Industries Ltd. (PGLAF:ASX: PGL) | Private placement of ordinary shares |
2.8 | A$11 (US$6.8) | Progen raised A$11 (US$6.8M) through the sale of 2.8M ordinary shares at A$4 each (US$2.46) (2/25) |
Protein Design Labs Inc. (PDLI) |
Private placement of convertible subordinated notes | $150 | PDL sold $125M of 5.5% convertible subordinated notes due 2007 (2/10); notes are convertible to PDL common stock at an initial conversion price of approximately $151 per share; exercise of overallotment option brought an additional $25M (2/15) | |
SangStat Medical Corp. (SANG) |
Private placement of common stock | 0.45S |
$15 | SangStat sold 0.45M shares at $33.25 per share to an institutional investor, raising $15M; price per share was 2/14 closing price (2/15) |
Titan Pharmaceuticals Inc. (AMEX:TTP) | Private placement of common stock |
1.2S |
$41.4 |
Titan sold 1.2M shares at $34.50 per share for a total of $41.4M (2/25) |
Urogen Corp. (OTC BB: UROG) |
Private placement of common stock |
2S |
$17 | UroGen raised $17M through the sale of 2M shares at $8.50 per share to the Aries Funds (2/24) |
Vasogen Inc. (Canada; TSE:VAS) |
Private placement of special warrants |
1.6W | C$14.4 (US$9.96) |
Vasogen sold 1.6M special warrants at C$9 (US$6.22), raising C$14.4M (US$9.96M); each warrant can be exchanged into one common share for no additional consideration (2/9) |
ViroPharma Inc. (VPHM) | Private placement of convertible subordinated notes | $150 | ViroPharma sold $150M of convertible 6% subordinated notes due 2007; notes are convertible into ViroPharma common stock at $109.15 per share, subject to certain adjustments; initial purchasers have an option to purchase up to an additional $30M in principal amount of notes (2/25) | |
Vysis Inc. (VYSI) |
Sale of subsidiary | $1.2 |
Vysis sold its French subsidiary, Vysis Sarl, to UK-based Applied Genetic Services Ltd.; the transaction is expected to provide Vysis with $1.2M in cash (2/8) |
|
XOMA Ltd. (XOMA) | Private placement of common stock |
6.1S | $30.7 |
XOMA sold 6.1M shares at approximately $5 per share for gross proceeds of $30.7M; Arnhold and S. Beichroeder Inc. and Sutro & Co. Inc. acted as placement agents (2/14) |
|
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 | ||||
