Company (Symbol)

Type Of Financing

Number Of Shares, Units Or Warrants (M)

Amount Raised (M)

Investors; Placement Agents; Details (Date)

Affymetrix Inc.

Private placement of common stock



Undisclosed institutional investor bought 1M common shares for $32.50 each, for a total of $32.5M (3/15)

Amylin Pharmaceuticals Inc.

Private placement of preferred stock



Amylin issued 0.125M shares of Series A preferred stock at $120 per share, raising $15M; each share is convertible into common stock at an initial conversion rate of 100 shares of common stock per Series A preferred share; the preferred shares will automatically be converted into common stock if the closing bid price of the common shares remains above $2.40 for 30 consecutive trading days; dividends on the preferred shares will accrue at a rate of 5% per year (3/24)

Aradigm Corp.

Private placement of common stock



U.S. Bancorp Piper Jaffray Inc. and Petkevich & Partners LLC served as financial advisors to Aradigm in this transaction, which involved the sale of 2.4M shares at $10.50 each to an undisclosed group of investors (3/15)

AVAX Technologies Inc.

Private placement of shares and warrants

0.1S, 0.62W


AVAX completed a private placement with Essex Woodlands Health Ventures Fund IV L.P., Petrus Fund L.P. (an affiliate of Perot Investments) and others; AVAX issued 0.1M shares of Series C convertible preferred stock with a conversion price of $3.25; purchasers received warrants to buy 0.31 shares of common stock with an exercise price of $4 and 0.31 shares with an exercise price of $4.50; warrants are exercisable over 5 years (3/3)

BioTime Inc.

Rights offer



BioTime completed oversubscribed rights offer, raising $7.3M through the sale of 0.75M shares, including 0.25M shares to fill oversubscriptions; shareholders received one right per share; rights holders could purchase one common share for every 20 rights owned at a subscription price of $9.75 per share (3/11)

Calypte Biomedical Corp.

Private placement of common stock



Calypte Biomedical sold 3.4M common shares at approximately $2 each, raising an estimated $7M; Pacific Growth Equities acted as placement agent (3/26)

CollaGenex Pharmaceuticals Inc.

Private placement of convertible preferred stock



Investor group led by OCM Principal Opportunities Fund LP signed preliminary agreement to buy $20M worth of Series D convertible preferred stock, which may be converted into common stock at an exercise price of $11 per share; during the first 3 years following issuance, holders will be entitled to dividends payable in common stock at a rate of 8.4% per annum (8%, paid in cash, thereafter); financing to be presented at CollaGenex's 5/11 annual shareholder meeting (3/19)

Cytel Corp.

Sale of Glytec business unit



Neose Technologies Inc. acquired the carbohydrate manufacturing patents, licenses and other intellectual property of Cytel's Glytec business unit; Neose paid $3.5M in cash and put an additional $1.5M in escrow, the release of which is contingent upon satisfaction of matters related to the acquired patents and licenses; Neose may pay up to an additional $1.6M, depending on how much it gets in future collaborations using the technology (3/29)

IGEN International Inc.

Debt financing



IGEN raised $30M in debt financing with John Hancock Mutual Life Insurance Company; financing has 7-year term with interest rate of 8.5%; ING Baring Furman Selz LLC acted as placement agent (3/23)

Matritech Inc.

Private placement of common stock



Undisclosed investors agreed to invest $4M through a private placement of 3.1M shares of common stock at $1.29 per share, a 7% discount to the 10-day average trading price (3/11)

Neoprobe Corp.

Private placement of convertible preferred stock



The private placement involved the issuance of 0.03M shares of 5% Series B convertible preferred stock, which may be converted to common stock; initial conversion price is $1.03 per share (2.9M shares); purchasers received warrants to buy 2.9M shares; a 2nd closing for the sale of an additional $3M of preferred stock may occur 4Q, at the earliest, at Neoprobe's option (3/3)

Oxford BioMedica plc (LSE:OXB)

Rights issue



Oxford to offer up to 23.7M shares to qualifying shareholders at $0.23 per share, on a 1-for-5 basis (3/3)

Phage Therapeutics International Inc. (OTC BB:PTXX)

Private placement of common stock



Phage completed private placement of 0.75 common shares for $0.20 each to raise $0.15M (3/10)

Sugen Inc.

Private placement of convertible notes



Sugen privately placed $28M principal amount of 12% senior convertible notes due 2002; notes convertible to shares at fixed price of $20.50 per share; interest may be paid in common stock or cash at the company's option; purchasers also received warrants to purchase additional $21M principal amount of the notes, which mature on 3rd anniversary of issuance; Diaz & Altschul Capital LLC served as placement agent; Delta Opportunity Fund Ltd. was lead investor (3/22)

TOTAL: $193.4

ND = Not disclosed, reported and/or available; S = Shares
The financings in this chart include loans, bridge financings and other interim measures, debt offerings, rights offerings, exercises of warrants, institutional offerings of registered stock and standard private placements.