TOTAL: $191.65M

Company (Symbol)

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised ($M)

Investors; Placement Agents; Details (Date) @

Advanced Viral Research Corp. (OTC BB:ADVR)

Private placement of convertible debentures and warrants

1W

$2.3E

Advanced Viral made a private placement in the form of a $2M, ten-year 7% convertible debenture to Focus Investors LLC; in addition, Focus has been granted 1M warrants to purchase additional shares at approximately $0.25 per share (8/5)

Boston Biomedica Inc. (BBII)

Private placement of common stock purchase warrants

0.5W

$2.2

Boston Biomedica completed a private placement of common stock purchase warrants to the Paradigm Group, of Northbrook, Ill.; the placement consisted of 0.4M common stock purchase warrants with an exercise price of $4.25, and 0.1M common stock purchase warrants with an exercise price of $5.25; National Securities Corp. acted as placement agent for Boston Biomedica (8/19)

Cellegy Pharmaceuticals Inc. (CLGY)

Private placement of common stock

1.6S

$10.1

Cellegy completed a private placement of 1.6M shares of its common stock; existing investors included the Tisch Family Interests, GMT Capital Corp. and K. Michael Forrest; new investor was Janus Global Life Sciences Fund; the transaction was self-managed by Cellegy (8/2)

Celsion Corp.(OTC BB:CELN)

Exercise of warrants

$1

More than 90% of Celsion's Series 700 warrant holders exercised their warrants (8/30)

Cephalon Inc.(CEPH)

Private placement of convertible, exchangeable preferred stock

2S

$100

Cephalon entered into a purchase agreementproviding for the sale to certain initial purchasers of 2M shares of convertible, exchangeable preferred stock at $50 per share; the company has granted the initial purchasers a 45-day option to purchase up to an additional 0.5M shares of the preferred stock; the preferred stock will be convertible into shares of common stock at a conversion price of $17.92 per share, subject to adjustment in certain circumstances (8/13)

Collateral Therapeutics Inc.(CLTX)

Private placement of common stock

2.2S

$33.9

Collateral completed a private placement of 2.2M shares of unregistered common stock to selected institutional and accredited investors (8/12)

Corvas International Inc.(CVAS)

Private placement of common stock and convertible note

$1.3S

$9.75

Corvas received $6.5M in the placement of a seven-year, senior subordinated convertible note with an effective interest rate of 5.6%; the notes are convertible into shares of common stock at $3.25 per share at the option of the holder; Corvas may call the notes for redemption any time after August 18, 2002; an additional $3.25M was received from the sale of 1.3M shares of common stock to Sofinov, Societe financiere d'innovation, a subsidiary of the Caisse de depot et placement du Quebec, of Montreal; to International Biotechnology Trust, of London; and to a current Corvas stockholder (8/20)

Cytogen Corp. (CYTO)

Private placement of common stock

3.1S

$5

Cytogen completed a private placement of common stock to the State of Wisconsin Investment Board; the company sold 3.1M shares at $1.61 per share, equal to a 7.25% discount to the average price of shares over an agreed five-day pricing period (8/5)

Inex Pharmaceuticals Corp.(Vancouver, British Columbia; TSE:IEX)

Special warrant financing

6W

C$12 (US$8)

Six million special warrants were sold on a private placement basis by Inex's agents, Yorkton Securities Inc. and Goepel McDermid Securities Inc.; each special warrant is exchangeable into one common share without additional payment (8/9)

Micrologix Biotech Inc.(Vancouver, British Columbia; TSE:VSE)

Special units financing

7.7U

C$15 (US$10.1)

Micrologix closed a bought deal financing led by Yorkton Securities Inc.; other investors were TD Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc. and CT Securities Inc.; a total of 7.7M special units were issued at a price of C$1.95 (US$1.31) per unit; each unit entitles the holder to acquire, at no additional cost, one common share of Micrologix and a one-half common share purchase warrant; each whole common share purchase warrant entitles the holder to purchase one common share of Micrologix at C$2.35 (US$1.57) for a period of 12 months from closing or, in certain circumstances, up to 24 months from closing (8/27)

Neurobiological Technologies Inc. (OTC BB:NTII)

Loan agreement

$1.5

Neurobiological's corporate collaborator, Merz & Co. GmbH, of Germany, agreed to loan the company up to $1.5M to support continuing late-stage clinical development of Memantine; the loan is interest bearing and may be converted to equity at Merz's discretion; use of the funds is restricted to support the company's Phase IIb clinical trial of Memantine for neuropathic pain (8/4)

Oncolytics Biotech Inc. (a subsidiary of Synsorb Biotech Inc., Calgary, Alberta; SYBB; TSE:SYB)

Private placement of special warrants

1.5W

C$0.9 (US$0.6)

Oncolytics completed a private placement of 1.5M special warrants sold at C$0.60 (US$0.40) per warrant; each warrant is exercisable into one Oncolytics common share and one share purchase warrant; each share purchase warrant is exercisable to purchase one common share at C$0.75 (US$0.50) within two years from an initial offering; Canaccord Capital Corp. acted as agent (8/4)

Orphan Medical Inc.(ORPH)

Private placement of convertible stock and debt financing

ND

$5

Orphan completed a $5M financing with UBS Capital consisting of $2.95M of Series B convertible preferred stock and $2.05M of debt; the preferred stock may be converted, prior to August 2, 2009, into common shares at a price of $6.50 per share; the debt carries an interest rate of 7.5% and matures on August 2, 2002; in connection with the financing, UBS Capital also received two seven-year warrants; one of the warrants entitles UBS to receive, upon payment of the $2.05M exercise price, either $2.05M of Series C convertible preferred stock, or 0.3M shares of Series D non-voting preferred stock; the other warrant, issued in relation to the debt financing, entitles USB to purchase 0.3M shares of Series D non-voting preferred stock at an exercise price of $4.25 per share; Orphan can require the exercise of the warrants under certain conditions (8/2)

Paracelsian Inc.(OTC BB:PRLN)

Private placement

ND

$0.4

Paracelsian completed a private placement in the amount of $0.4M; under the terms of the placement, warrants for substantial additional investment in the company are provided; further details ND (8/3)

Protein Polymer Technologies Inc. (PPTI)

Private placement of convertible preferred stock

0.035S

$1.8

Protein Polymers completed an initial closing of a private placement of Series G convertible preferred stock with a small group of accredited and institutional investors at $100 per share; each share can be converted at any time into common stock at a price of $0.50 per share, subject to certain antidilution adjustments; each share of preferred stock also receives a common stock warrant, exercisable for 12 months, that allows the holder to acquire 200 shares of common stock at $0.50 per share (8/17)

Note:

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