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

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