I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $83.8M | |||||
Company |
Location |
Date |
Amt. (M) |
Details |
|
Calydon Inc. (mezzanine) |
Sunnyvale, Calif. |
6/10 |
$10.1 |
Barr Rosenberg of AXA Rosenberg Group was the lead investor in this private round, which also included current investor Sequoia Capital and other private investors |
|
IsoTis BV (Round ND) |
Bilthoven, the Netherlands |
6/21 |
Euro18.2 (US$18.8) |
Private placement was managed by ABN AMRO Corporate Finance and attracted funding from existing shareholders (Atlas Venture, 3i Group and GIMV) and new investors (Alpinvest Holding and ABN AMRO Participaties, Chase Capital Partners Europe and Trust Capital Technology) |
|
Medinox Inc. (mezzanine) |
San Diego |
6/22 |
$7.4 |
Investors included international group of venture capital funds and private investors in oversubscribed financing |
|
Microscience Ltd. (Round ND) |
London |
6/8 |
£9 (US$14.2) |
Microscience completed a £9M financing round from investment funds advised by Apax Partners and Merlin Ventures; the Merlin Healthcare fund has an option to invest an additional £3M over the next year |
|
Therion Biologics Corp. (Round ND) |
Cambridge, Mass. |
6/28 |
$10.5 |
New investors included lead investor Sofinov, Pacific Horizon Ventures, and BioVentures Investors; major existing shareholders also participated: SR One Ltd., H&Q Healthcare Investors, H&Q Life Science Investors, Loeb Investors, Venture Capital Fund of America, Northwood Ventures, New York Life Insurance Company, Singapore Bio-Innovations and Sidney R. Knafel |
|
VitaGen Inc. (mezzanine) |
La Jolla, Calif. |
6/24 |
$10.5 |
VitaGen received $10.5M from shareholders through a series of preferred stock offerings; lead shareholders include Chase Capital Partners, Becton Dickinson, New York Life and Radius Health Ventures; financing structured by VitaGen and the law firm Sheppard, Mullin, Richter & Hampton (6/24) |
|
Xencor Inc. (2nd round) |
Pasadena, Calif. |
6/14 |
$12.3 |
Stafford Investments LLC led financing |
|
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM CORPORATE PARTNERS: $10.0M | |||||
Company (Symbol) |
Partner (Symbol; Country) |
Amt. (M) |
Triggering Event |
Details (Date) |
|
BioCryst Pharmaceuticals Inc. (BCRX) |
Ortho-McNeil Pharmaceutical Inc. unit of Johnson & Johnson (NYSE:JNJ) |
$2 |
Initiation of Phase II trial |
Ortho-McNeil paid BioCryst $2M milestone for starting Phase II trial of oral influenza neuraminidase inhibitor designed to treat and prevent viral influenza; milestone stems from 9/98 agreement (6/23) |
|
ImmunoGen Inc. (IMGN) |
SmithKline Beecham plc (NYSE:SBH) |
$2 |
Manufacturing capability |
ImmunoGen received $2M milestone upon confirmation of company's ability to produce enough huC242-DM1 for clinical trials; milestone stems from 2/99 agreement |
|
Introgen Therapeutics Inc. (privately held) |
Rhône-Poulenc Rorer (NYSE:RP) |
$6 |
Seventh and final milestone (ND) |
RPR paid $6M milestone in connection with collaboration dating to 10/94; companies have taken p53 gene therapy for cancer through Phase II testing and are planning Phase III trials (6/22) |
|
* Conversion rate of £1 = US$1.58; Conversion rate of Euro1 = US$0.97; ND = Information not disclosed. | |||||
