Company (Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised ($M)*

Investors; Placement Agents; Details (Date) @

Advanced Tissue Sciences Inc. (ATIS)

Exercise of warrants

1.75S

$7

The State of Wisconsin Investment Board exercised warrants to purchase 1.75M shares of common stock at $4 per share; warrants were a component of the 3.75M units sold to the investment board in 11/99 and bring the board's direct ownership to more than 16% (1/31)

Alteon Inc. (OTC BB:ALTN)

Sale of net operating loss carryovers

$2.6

Alteon received $2.6M from sale of net operating loss carryovers under New Jersey's Technology Business Tax Certificate Transfer program (1/5)

Aphton Corp. (APTH)

Exercise of warrants

0.35W

$5.5

Aphton received $5.5M through the exercise of 0.35M warrants to purchase Aphton common stock; shares were purchased at an average price of $15.714 per share (1/14)

Aviron (AVIR)

Equity financing

Aviron received a commitment for up to $48 million in equity financing from Acqua Wellington Asset Management LLC; funds are available over the course of 12 months at a small discount to market (1/12)

Cubist Pharmaceuticals Inc. (CBST)

Private placement of common shares

2.2S

$55

Cubist will issue 2.2M common shares at $25 per share in a private placement to new and current shareholders, raising gross proceeds of $55M; FleetBoston Robertson Stephens and Pacific Growth Equities acted as placement agents (1/27)

CuraGen Corp. (CRGN)

Private placement of convertible subordinated debentures

$125

CuraGen sold $125M in convertible, 6% debentures due 2007 and convertible into shares of CuraGen common stock at $127.655 per share (1/28)

Hemosol Inc. (Canada; TSE:HMO)

Bought deal for common shares underwriters led by Yorkton Securities

5.5S

C$46.1 (US$31.9)

Hemosol raised C$46.1M (US$31.9) through the sale of 5.5M shares at C$8.35 (US$5.79) to a syndicate of Inc. (1/25)

IGEN International Inc. (IGEN)

Private placement of convertible subordinated debentures

$35

IGEN completed a private placement of $35M principal amount of 5% subordinated convertible debentures due 2005; debentures are convertible into IGEN common stock at $31 per share, a 10% premium to the trailing average closing prices for the preceding 25 days; as part of this financing, the company also issued warrants to purchase 0.28M shares of IGEN common stock at the conversion price (1/12)

Inex Pharmaceuticals Corp. (Canada; TSE:IEX)

R&D loan

C$9.3 (US$6.4)

Canadian government's Technology Partnerships Canada will finance up to C$9.3M (US$6.4M) of Inex's research and development initiatives for novel anti-cancer drugs over the next four years; TPC will reimburse Inex for a portion of its R&D expenditures on these drugs, and Inex will repay TPC from any revenues they generate (1/21)

Inex Pharmaceuticals Corp. (Canada; TSE:IEX)

Bought deal for warrants

2.3W

C$20.1 (US$13.9)

Inex raised C$20.1M (US$13.9M) through a private placement of 2.3M special warrants at C$8.75 (US$6.1) per warrant; each warrant may be exchanged for 1 common share without additional payment upon clearance of a final prospectus ; Yorkton Securities Inc. led the underwriting syndicate, which includes Nesbitt Burns Inc., Goepel McDermid Inc. and RBC Dominion Securities Inc. (1/27)

Interleukin Genetics Inc. (ILGN)

Private placement of common stock

0.83S

$5

Interleukin Genetics riased $5M through an offering of 0.83M shares of common stock; First Global Technology was the lead investor; Fine Equities acted as placement agent (1/31)

Human Genome Sciences Inc. (HGSI)

Facility expansion financing

$17.5

Allfirst Bank and First Union National Bank, with continued support of the state of Maryland, are financing a $17.5M expansion of HGS' process development and manufacturing facility; HGS is leasing the facility under a long-term agreement with the Maryland Economic Development Corporation (1/10)

Interferon Sciences Inc. (OTC BB:IFSC)

Sale of net operating loss carryovers

$2.3

Interferon Sciences sold $2.3M of New Jersey tax loss carryforwards to Public Service Electric and Gas Company (1/25)

Ligand Pharmaceuticals Inc. (LGND)

Sale of assets

$10

Ligand sold to CoPharma Inc. assets associated with the contract manufactuirng business of Ligand subsidiary Marathon Biopharmaceuticals Inc. for $10M (1/10)

Millennium Pharmaceuticals Inc. (MLNM)

Private placement of convertible subordinated notes

$350

Millennium sold $350M of 5.5% convertible subordinated notes due 2007 to qualified institutional buyers; notes are convertible into Millennium common stock at $168.28 per share, a 25% premium over the 1/13 closing price; notes can be redeemed by Millennium any time after 1/15/03 (1/14)

Onyx Pharmaceuticals Inc. (ONXX)

Private placement of common stock

2S

$18

Onyx sold 2M shares at $9 per share, raising $18M; participants included new investors Alta BioPharma Partners, Domain Associates, and Chase Capital Partners; existing sharholder International Biotechnology Trust plc also participated (1/19)

Oxford BioMedica plc

Sale of common stock (LSE:OXB)

13.7

£5 (US$8.1)

Oxford BioMedica issued 13.7M ordinary shares at 38 pence per share to institutional investors (1/17)

SciClone Pharmaceuticals (SCLN)

Private placement of common stock and warrants

1S; Warrants for 0.8S

$6.1

SciClone raised $6.1M through the sale of 1M shares and warrants to purchase 0.8M shares at $7 per share to its largest institutional shareholder, The Brown Simpson Strategic Growth Fund; the warrants, if exercised, cannot be sold at less than $10 per share or until 9 months have passed; H.C. Wainwright & Co. Inc. served as placement agent (1/19)

Synsorb Biotech Inc. (Canada; SYBB)

Common share bought deal

6.9S

C$24.2 (US$16.7)

Synsorb raised C$24.2M (US$16.7M) in a commonshare bought deal financing that sold 6.9M shares, including an underwriters' overallotment option of 0.9M shares, at C$3.50 (US$2.43) per share; the underwriting syndicate was led by Yorkton Securities Inc. and included Canaccord Capital Corp., Dundee Securities Corp., and Loewen, Ondaatje, McCutcheon Ltd. (1/25)

Trinity Biotech plc (Ireland; TRIBY)

Property sale; private placement of debentures and common stock

$6.75

Trinity sold its property in Ireland and entered into a 20-year lease on the premises, for a profit of $1.25M; in a separate transaction, the company raised $5.5M through the sale of a $3.5M debenture with a coupon of 7.5% and $2M of common stock at a 7.5% discount to market (1/6)

United Therapeutics Corp. (UTHR)

Private placement of common stock

2.5S

$80

Prudential Vector Healthcare Group served as placement agent for the sale of 2.5M shares at $32 per share for gross proceeds of $80M (1/18)

UroGen Corp. (OTC BB:UROG)

Private placement of common stock and warrants

6.3S, Warrants for 1.75S

$8.2

UroGen raised $8.2M through the sale of 6.3M shares of common stock and warrants for 1.75M shares; Evolution Capital, a subsidiary of the Carson Group, acted as placement agent; investors included The Aries Funds, Emerging Growth Management, Clearwater Funds and Perceptive Life Sciences Fund (1/20)

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.

TSE = Toronto Stock Exchange

OTC BB = Over The Counter Bulletin Board