Amt. (M)


Ceptyr Inc. (3rd Round)

Bothell, Wash.



Ceptyr received an $11.5M equity investment from ARCH Venture Partners, Cascade Investment LLC, Falcon Technology Partners, Gene-Chem Technologies Venture Fund LP, Lombard Odier & Cie and Tredegar Investments Inc.

Combimatrix Corp.

Burlingame, Calif.




Conjuchem Inc. (2nd Round)



C$12.7 (US$8.5)

Conjuchem raised C$12.7 (US$8.5) in a private financing; leading the financing was new investor Finedix BV, an affiliate of Paris- based Halisol; existing investors included BioCapital Investment, Societe Innovatech du Grand Montreal FSTQ, Business Development Bank of Canada and European Medical Ventures; two-thirds of the funds were disbursed at closing, with the remainder to be disbursed upon the achievement of specified milestones

CpG Immuno-Pharmaceuticals (2nd Round)

Wellesley, Mass.



CpG raised $12.9M in a second round venture financing to fund clinical studies; participants included lead investor TVM Techno Venture Management, of Munich, Germany, as well as Alafi Capital Co., Quiagen NV, Alpinvest Holding NV, Kredietbank SA Luxembourgeosie and Mulligan Beteiligungs GmbH

Cyclacel Ltd. (3rd Round)

Dundee, Scotland


£4 (US$6.5)

Cyclacel completed a private financing in which two private investors, Brian Souter and and Ann Gloag, agreed to invest £2M each

Durect Corp. (2nd Round)

Cupertino, Calif.



Durect closed a $20M private placement of preferred convertible stock, led by Brookside Capital, a Bain Capital Fund; additional investors included J.P. Morgan Investment Management, Collinson Howe & Lennox, and Sofinov, a subsidiary of the Caisse de depot et placement du Quebec

eNOS Pharmaceuticals Inc. (1st Round)

Cambridge, Mass.



eNOS completed its first round of financing; investors included Polaris Venture Partners and Essex Woodlands Health Ventures Fund IV

FibroGen Europe Ltd. (a subsidiary of FibroGen Inc.; 1st and 2nd Rounds)

Oulu, Finland



Fibrogen raised $15.3M in a private offering sold in two tranches to European investors and 23 institutional investors; BioFund, of Helsinki, Finland, was the lead investor for the first round; BankInvest, of Copenhagen, Denmark, was the lead investor for the second round, with D. Carnegie AB, of Stockholm, Sweden, acting as private placement agent

InterMune Pharmaceuticals (1st Round)

Palo Alto, Calif.



A spin-off company of Connectics Corp., InterMune completed an additional closing of its Series A preferred stock financing, the first closing of which was completed in April 1999; a new investor, Sofinnova Ventures, purchased $1M of Series A preferred stock and will close on an additional $0.5M

Kinetek Pharmaceuticals Inc. (1st Round)

Vancouver, British Columbia


C$7.9 (US$5.3)

Kinetek raised C$7.9M (US$5.3M) in an equity financing made by a syndicate of six venture capital funds and private investors; the financing was led by Ventures West B.C. Technology Investment Fund, Bank of Montreal Capital Corp., Working Opportunity Fund and Royal Bank Capital Corp.; other investors included Exceptional Technologies (VCC) Funds, Trian Equities Ltd. and undisclosed private parties

Santarus Inc. (1st Round)

San Diego



Santarus received $4.8M in seed capital from St. Paul Venture Capital, Windamere Venture Partners LLC, Mayo Medical Ventures and other private investors

Variagenics Inc. (2nd Round)

Cambridge, Mass.



Variagenics completed a $19M round of financing led by The Sprout Group, the venture capital affiliate of Donaldson, Lufkin & Jenrette; existing investors included Atlas Venture, Oxford Bioscience Partners, Forward Ventures, Kummell Investments Ltd., Goldman Sachs & Co. and Advent International; the financing included new investor A.M. Pappas and Associates


Company (Symbol)

Partner (Symbol; Country)

Amt. (M)

Triggering Event

Details (Date)

BioTime Inc.(BTIM)

Abbott Laboratories


FDA approval of Hextend and the commencement of sales

BioTime received $850,000 from Abbott under its exclusive license agreement for Hextend, BioTime's proprietary blood plasma volume expander (8/25)

COR Therapeutics Inc. (CORR)

Schering-Plough Corp. (NYSE:SGP)


Marketing authorization of Integrilin in the European Union

COR received a $12M milestone payment from Schering-Plough in connection with marketing authorization of Integrilin in the European Union for certain indications; Schering will launch and market Integrilin exclusively for a specified period, and COR will receive royalty payments; COR will then have the right to co-promote Integrilin in Europe (8/3)

Cubist Pharmaceuticals Inc. (CBST)

Merck & Co. (NYSE:MRK)


Achievement of medicinal chemistry research milestone

Cubist received a payment from Merck for achieving a milestone under its agreement to develop and commercialize new antiinfective drugs; financial details ND (8/16)

Cytoclonal Pharmaceutics Inc. (CYPH)

Bristol-Myers Squibb (NYSE:BMY)


Collaborative license and research agreement

Cytoclonal received a second payment this year from Bristol-Myers as part of its license and research agreement for the production of paclitaxel; financial details ND (8/20)

Diatide Inc. (DITI)

Nycomed Amersham plc (London)


FDA approval of NeoTect

Diatide received a $2M milestone payment from Nycomed in connection with FDA approval of NeoTect, Diatide's lung cancer diagnostic imaging product (8/16)

Epimmune Inc. (EPMN)

G.D. Searle & Co. (the pharmaceutical unit of Monsanto Company; NYSE:MTC)


Searle's acceptance of a lead product candidate

Epimmune received a $2M milestone payment in connection with Searle's acceptance of a lead product candidate for breast, lung and colon cancers, for further preclinical development, IND filing and initial clinical studies; Epimmune will receive an additional milestone payment upon completion of clinical trials (8/27)

Guilford Pharmaceuticals Inc.(GLFD)

Rhone-Poulenc Rorer Pharmaceuticals Inc.


French approval of Gliadel wafer

Guilford received a $2.5M milestone payment from Rhone-Poulenc for French approval of the Gliadel wafer as an adjunct to surgery to prolong survival in patients with recurrent glioblastoma multiforme (8/2)

Rhone-Poulenc Rorer Pharmaceuticals Inc.


German approval of Gliadel wafer

Guilford received a $2M milestone payment from Rhone-Poulenc for German approval of the Gliadel wafer as an adjunct to surgery to prolong survival in patients with recurrent glioblastoma multiforme (8/12)

Incara Pharmaceuticals Corp. (INCR)

Merck & Co. Inc. (NYSE:MRK)


Achievement of an initial research collaboration milestone

Incara received a $1.5M milestone payment from Merck for the achievement of an initial milestone in the company's collaboration targeting the discovery and development of a class of vancomycin analogues; Incara's collaboration with Merck is based on research the company sponsored in the chemistry department of Princeton University; Incara will pay Princeton $0.5M of the milestone payment (8/9)

Isis Pharmaceuticals(ISIP)

CIBAVision Corp.


Marketing approval of Vitravene in the European Union

Isis received a $2.5M milestone payment from CIBAVision in connection with CMA marketing approval of Vitravene in the European Union; under the terms of the companies' worldwide distribution agreement, CIBAVision has worldwide marketing rights to Vitravene (8/4)

NeoPharm Inc. (AMEX:NEO)

Pharmacia & Upjohn (NYSE: PNU)


Transfer of investigational new drug applications (INDs)

Under the terms of their Feb. 1999 licensing agreement, NeoPharm sold 0.5M shares of its stock to Pharmacia & Upjohn at $17.67 per share for an equity investment total of $8M; the stock sale provision of the agreement was triggered by the transfer of the INDs for NeoPharm's two anticancer agents: Liposomal Encapsulated Paclitaxel and Liposomal Encapsulated Doxorubicin (8/2)

Neurocrine Biosciences Inc.(NBIX)

Wyeth-Ayerst Laboratories (division of American Home Products Corp.; NYSE:AHP)



Neurocrine received a $750,000 mile-discovery under research collaboration stone payment for a fundamental discovery in EAATs (excitatory amino acid transporters) neurotransmitter transporter biology (8/3)

Unigene Laboratories Inc. (UGNE)

Warner-Lambert Co. (NYSE:WLA)


Conclusion of final pilot human

Unigene received a $2.5M milestonepayment from Warner in connection with the conclusion of the final pilot human study prior to initiating Phase I studies with an oral calcitonin formulation (8/19)

Vivus Inc.(VVUS)

AstraZeneca Group plc (UK; NYSE:AZN)


Marketing approval of Muse (alprostadil) in Spain

Vivus received a $2M milestone payment from AstraZeneca in connection with receiving a marketing license in Spain for Muse (alprostadil), a treatment for erectile dysfunction (8/27)


@ The dates listed indicate the issue dates of press releases.

* Conversion rate of £1 = US$1.62; Conversion rate of Euro1 = US$0.97; Conversion rate of C$1 = US$0.67; ND = Information not disclosed.