I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $62.5M
Company Location Date Amt. (M) Investors
Dyax Corp. Cambridge, 11/16 $31 This financing round was led by HealthCare
(2nd round) Mass. Ventures LLP and Alta Partners; new investors
included Rho Management Trust, Genzyme
Corp., Charter Growth Capital and ING Baring
Furman Selz; existing investors included Loeb
Partners, BancBoston Ventures, Hambrecht &
Quist and New York Life Insurance Co.; ING
Baring Furman Selz and Pacific Growth Equities
Inc. acted as placement agents for a
portion of the financing
Islet Technology Inc. Minneapolis 11/23 $1.7 This round, like the company's others, was
(3rd round) financed primarily by individual investors
(not identified)
Neurotech SA Paris 11/26 $14.5 New investors, which accounted for 70% of the
(2nd round) total financing in this round, were led by 3i plc
and included GIMV, IMH, Private Equity Hold-
ings AG, Sudinnova and Banque de Vizille;
existing investors participating in this round
included Atlas Venture, Sofinnova Partners,
CDC Innovation and Codexi; the total raised
was FFr82M ($14.5M)
Quantum Montreal 11/10 $4.8 The company raised US$4.8M in the second
Biotechnologies Inc. closing of a US$6.45M financing; investors
(2nd round) included Fonds du Solidarite des Travailleurs
de Quebec, BioCapital, Pictet, CDC Innovation,
Royal Bank Investment Management and other
private investors (prices converted at a rate of
C$1.55/US$1) (11/10)
Telik Inc. South 11/16 $10.5 Telik, formerly Terrapin Technologies Inc.,
(mezzanine-plus) San Francisco raised $10.5M from new investor International
BM Biomedicine Holdings Inc. and long-term
investor Sanwa Kagaku Kenkyusho Co. Ltd.
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM CORPORATE PARTNERS: $35.3M
Company Partner Amt. Triggering Details/Date
(Symbol) (Symbol; Country) (M) Event
GelTex Genzyme Corp. $15 FDA The companies formed a joint venture for mar-
Pharmaceuticals (GENZ) approval of keting Renagel in 6/97; FDA approved the
Inc. (GELX) Renagel phosphate binder for reducing serum phosphorus
Capsules in end-stage renal disease on 11/2, triggering the
milestone payment (11/2)
La Jolla Abbott Laboratories $4 Terms of The companies entered an agreement in 12/96
Pharmaceutical (NYSE:ABT) alliance to develop and market LJP 394 for treating lupus
Co. (LJPC) nephritis; per terms of the agreement, Abbott
bought 1.54M shares of La Jolla stock for $4M (11/10)
Medarex Inc. Xenotech LP (joint $7.5 Terms of The parties entered a cross-licensing agreement
(MEDX) venture between Cell cross-licensing on all issued and related patent applications on
Genesys Inc., agreement the generation of fully human antibodies in
Abgenix Inc. and genetically modified mice in 3/97; Medarex was
Japan Tobacco Inc.) issued a patent on its HuMAb-Mouse technol-
ogy, triggering the $7.5M payment (11/24)
NPS SmithKline $1.8 Terms of The companies entered an agreement in 12/93
Pharmaceuticals Beecham plc alliance on orally active small-molecule drugs that act
Inc. (NPSP) (NYSE:SBH; U.K.) on calcium receptors for treating osteoporosis;
the agreement was extended in 12/97; as per
those terms, SmithKline is to buy equity in
NPS on an annual basis; it bought 0.2M shares at
$8.87 each for a total investment of $1.8M (11/4)
Trega Biosciences Novartis Pharma AG $7 Terms of The companies entered an agreement in 5/98
Inc. (TRGA) (Switzerland) alliance on orally active small molecules for treating
diseases mediated by the melanocortin-4
receptor pathway; as part of that agreement,
Trega had the option of getting an equity invest-
ment from Novartis; Novartis bought 1.9M
shares of Trega at $3.75 each for $7M total (11/10)
III. PIPE/REG. S FINANCINGS: $0M
There were no PIPE/Reg. S financings in November.