| Company | Type Of | Number Of | Amount | Investors; Placement Agents; |
| (Symbol) | Financing | Shares, Units | Raised (M) | Details (Date) |
| Or Warrants (M) | ||||
| CytRx Corp. | Note | — | $4 | CytRx received $4M from VetLife LLC for the |
| (CYTR) | repayment | repayment of a note receivable issued on the | ||
| sale of its cattle implant business in 4/98 (12/9) | ||||
| Dragon | Private | 2.0S | $1 | Dragon sold 2M shares of common stock at |
| Pharmaceuticals Inc. | placement | $0.50 each for proceeds of $1M (12/31) | ||
| (OTC Bulletin Board: | ||||
| DRUG; Canada) | ||||
| Gensia Sicor Inc. | Convertible | — | $10 | Carlo Salvi, president and CEO of Gensia Sicor, |
| (GNSA) | notes | bought $5M in 8% convertible notes due 2001; | ||
| he will buy an additional $5M in notes before | ||||
| year-end; for the next 2 years, the notes are | ||||
| convertible into common stock at $4.50 per | ||||
| share (12/16) | ||||
| Genzyme | Credit | — | $20 | Fleet Bank will increase Genzyme Transgenics' |
| Transgenics Corp. | facility | credit facility by $15M (to total of $24.6M); the | ||
| (GZTC) | unsecured credit facility, which will be guaran- | |||
| teed by Genzyme Corp., includes a $17.5M oper- | ||||
| ating line of credit, a $7.1M capital line of | ||||
| credit and $5M for expansion of production | ||||
| facilities; Genzyme Transgenics also received a | ||||
| $5M lease line of credit with Transamerica | ||||
| Technology Finance (12/22) | ||||
| Geron Corp. | Convertible | — | $15 | Geron sold $15M in convertible zero coupon |
| (GERN) | debentures | debentures to investment funds managed by | ||
| institutional investors Brown Simpson Asset | ||||
| Management LLC and Rose Glen Capital Man- | ||||
| agement LP; the debentures are convertible at a | ||||
| fixed price of $10 per share; Geron has the option | ||||
| to convert the debentures when its stock has | ||||
| traded at an undisclosed premium to the $10 | ||||
| price for 5 consecutive days; for 18 months, the | ||||
| investors can purchase up to $15M of additional | ||||
| common stock at premium to fixed conversion | ||||
| price (12/10) | ||||
| Immunomedics Inc. | Private | ND | $12.5 | Immunomedics sold $12.5M in 4% convertible |
| (IMMU) | placement | preferred stock, with an option to sell an addi- | ||
| tional $7.5M, to unnamed investors; the pre- | ||||
| ferred stock can't be converted into common | ||||
| stock for 6 months, and then at the lesser of 125% | ||||
| of market price or 100% of average of lowest | ||||
| closing bid during specified time period (12/10) | ||||
| Interferon Sciences | Private | 4.0S | $1.6 | The company sold 4M shares of common stock |
| Inc. (IFSC) | placement | at $0.40 each to institutions and high-net-worth | ||
| individuals (11/30)* | ||||
| Paracelsian Inc. | Private | ND | $0.3 | Paracelsian obtained $0.25M through a private |
| (OTC Bulletin Board: | placement | placement of common stock (details not pro- | ||
| PRLN) | vided) (12/17) | |||
| Pharmos Corp. | Line of | — | $10 | Pharmos obtained a $10M equity line of credit |
| (PARS) | credit | with a single institutional investor; the company | ||
| has the right to draw funds periodically by sell- | ||||
| ing its common stock at a 7% discount to the | ||||
| closing bid price at the time of draw-down; the | ||||
| agreement is in effect for 2.5 years; Jesup & | ||||
| Lamont Securities Corp. acted as the placement | ||||
| agent (12/14) | ||||
| Phage Therapeutics | Private | 4.0S | $0.2 | The company sold 4M common shares for |
| International Inc. | placement | $0.05 each in a Regulation D financing (12/15) | ||
| (OTC Bulletin | ||||
| Board:PTXX) | ||||
| Sepracor Inc. | Convertible | — | $300 | Sepracor priced $300M of convertible subordi- |
| (SEPR) | debentures | nated debentures due 2005; the debentures have | ||
| an annual interest rate of 7% and will be convert- | ||||
| ible into common stock at $124.875 per share | ||||
| after 3 years; the purchaser of the debentures | ||||
| has an option to buy up to $45M more (12/10) | ||||
| Synsorb Biotech Inc. | Loan | — | $1.9 | Synsorb received US$1.9M under a 4-year loan |
| (TSE:SYB; Canada) | from GATX/MM Venture Finance Partnership | |||
| (prices converted at a rate of C$1.55/US$1) (12/29) | ||||
| Techniclone Corp. | Sale/ | — | $6.1 | Techniclone received $6.1M from the sale/ |
| (TCLN) | leaseback | leaseback of its 2 corporate facilities; the com- | ||
| of facilities | pany got $4.175M in cash and $1.925M in the | |||
| form of a 7% interest-bearing note (12/28) | ||||
| Triangle Pharma- | Private | 0.17S | $17 | Triangle sold 170,000 shares of preferred stock |
| ceuticals Inc. (VIRS) | placement | at $100 each to selected institutional investors; | ||
| each share of preferred stock will convert into 10 | ||||
| shares of common stock after 1 year or when | ||||
| Triangle's stockholders approve, whichever is | ||||
| earlier; a dividend of $5 per share will be paid to | ||||
| those holding outstanding preferred stock after | ||||
| 6/15/99; the company will register the underly- | ||||
| ing shares for resale; Vector Securities Inter- | ||||
| national Inc. acted as the placement agent (12/28) | ||||
| TOTAL: $398.0M | ||||
| NOTES: | ||||
| * Interferon Sciences Inc.'s private placement occurred in 11/98. The proceeds have been attributed to that month and are not included in the total above. | ||||
| ND = Not disclosed, reported and/or available; S = Shares; TSE = Toronto Stock Exchange; U = Units; W = Warrants | ||||
| The financings in this chart include loans, bridge financings and other interim measures as well as sales of business units, debt offerings, rights offerings, exercises of warrants, institutional offerings of registered stock and standard private placements. | ||||
