TOTAL: $451.6M

Company (Symbol)#

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised ($M)*

Investors; Placement Agents; Details (Date)@

AVI Biopharma Inc. (AVII)

Private placement of common stock

ND

$6.5

AVI sold $6.5M of common stock to five institutional investors who were granted the additional opportunity to invest $2.2M through the exercise of warrants; placement agents were European American Securities Inc. and Cruttenden-Roth; lead investor was The Tail Wind Fund Ltd. (12/22)

Aviron (AVIR)

Private placement of common stock

0.26S

$5.3

Aviron sold 0.26M shares of its common stock at $15.48 per share to an undisclosed financial institution (12/16)

BioTransplant Inc. (BTRN)

Private placement of common stock

1.7S

$7.7

BioTransplant sold approximately 1.7M shares of its common stock to selected institutional investors at $4.50 per share; Evolution Capital, a subsidiary of the Carson Group, acted as placement agent (12/29)

Cel-Sci Corp. (AMEX:HIV)

Private placement of common stock

ND

$2.5

Cel-Sci sold $2.5M of its common stock to two undisclosed institutional investors; Reedland Capital Partners, a division of Financial West Group, acted as placement agent (12/14)

Cerus Corp. (CERS)

Private placement of common stock

1S

$25

Cerus sold 1M shares of its common stock to selected institutional and other accredited investors at $25 per share; Prudential Vector Healthcare Group, a subsidiary of Prudential Securities Inc., acted as placement agent (12/21)

Digene Corp. (DIGE)

Private placement of common stock

1.5S

$19.5

Digene and certain of its stockholders sold 1.5M shares of common stock to selected institutional and other accredited investors at $13 per share; Prudential Vector Healthcare Group acted as placement agent (12/28)

Genta Inc. (GNTA)

Private placement of units

114U

$11.4

Genta sold 114 units in a private placement, raising $11.4M; each unit consisted of 0.033M shares of common stock, and warrants to purchase 8,333 shares of common stock at any time prior to the fifth anniversary of the closing; further details ND (12/23)

Genzyme Transgenics Corp. (GZTC)

Private placement of common stock

ND

$5.4

Genzyme completed a private placement of previously registered shares of common stock with two institutional investors, Tri-Mark Holdings and The Special Situations Fund (12/15)

Heska Corp. (HSKA)

Private placement of common stock

6.5S

$13.3

Heska sold 6.5M shares of its common stock to several institutional investors, including the State of Wisconsin Investment Board, Charter Ventures II LP and Zesiger Capital Group LLC (12/3)

Human Genome Sciences (HGSI)

Private placement of notes

ND

$200

HGS completed a private placement of $150M principal amount of 5% convertible subordinated notes due 2006; the notes are convertible into HGS common stock at a price equal to $143.25 per share, subject to adjustment under certain undisclosed circumstances; following completion of the placement, the initial purchaser, Credit Suisse First Boston, exercised its option to purchase an additional $50M of notes, subject to the terms of the original placement (12/22)

Immunomedics Inc. (IMMU)

Private placement of common stock

2.5S

$7.5

Immunomedics sold 2.5M shares of its common stock to Paramount Capital, of New York, at $3 per share (12/15)

Ligand Pharmaceuticals Inc. (LGND)

Exchange of warrants

2.3W

$13.9

Ligand received net proceeds of $13.9M from the completion of its offer to exchange warrants to purchase shares of common stock tendered with cash payments of $7.12 per warrant for shares of common stock and $1.12 per warrant (12/21)

Neurocrine Biosciences Inc. (NBIX)

Private placement of common stock

2.3S

$42

Neurocrine sold 2.3M shares of common stock to five institutional investors at $18 per share; placement agents were FleetBoston Robertson Stephens, Deutsche Bank Alex Brown and Prudential Vector Securities Inc. (12/23)

Ortec International Inc. (ORTC)

Private placement of common stock

1.6S

$9

Ortec received $9M from two institutional funds through a private placement of common stock; Pequot Capital Management, of Westport, Conn., invested $7M for which it received 1.2M shares; S. Squared Technology Corp., of New York, invested $2M for which it received 0.36M shares; the company acted as its own placement agent (12/29)

Theratechnologies (Canada; TSE:TH)

Exercise of warrants

0.5W

$2.6

Theratechnologies received proceeds of $2.6M from the exercise of 0.5M share purchase warrants; each warrant entitled its holder to purchase one common share for $5 (12/2)

United Therapeutics Corp. (UTHR)

Private placement of common stock

2.5S

$80

UTC entered definitive agreements for the sale of 2.5M shares of common stock to institutional investors at $32 per share; Prudential Vector Healthcare Group acted as placement agent (12/22)

Notes:

@ The dates listed indicate the issue dates of press releases, and are not necessarily the dates on which stated events took place.

* Conversion rate of C$1 = US$0.68; ND = Information not disclosed.

# Unless otherwise indicated, the stock symbols listed are on the Nasdaq Market.

AMEX = American Stock Exchange; TSE = Toronto Stock Exchange