I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $38.6M | ||||||||
Company | Location | Date | Amt. (M) | Investors | ||||
Acorda Therapeutics | Hawthorne, | 10/15 | $20 | Acorda placed 7.47M shares of Series E preferred | ||||
Inc. (3rd round) | N.Y. | stock with a group of institutional investors led by | ||||||
BB Bioventure Fund and Vector Fund Management; also | ||||||||
participating were MSC Capital Corp. and New York Life | ||||||||
Del Mar Medical | San Diego | 10/22 | $3.3 | Investors in this round included Kleiner, Perkins, Caufield | ||||
Technologies Inc. | and Byers and Technology Partners | |||||||
(1st round) | ||||||||
FeRx Inc. | San Diego | 10/12 | $7.3 | FeRx received $7.25M in venture capital financing, | ||||
(2nd round) | including $3.5M from Brentwood Venture Capital; the | |||||||
remainder was raised from private investors | ||||||||
Osiris Therapeutics | Baltimore | 10/1 | $8 | Osiris received $8M in guaranteed financing from Alex- | ||||
Inc. (other) | andria Real Estate Equities Inc.; Alexandria bought | |||||||
Osiris' research labs and pilot GMP stem cell production | ||||||||
facilities from 3rd parties and guaranteed $8M to Osiris | ||||||||
for future lab and stem cell production improvements | ||||||||
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM CORPORATE PARTNERS: $13.0M | ||||||||
Company | Partner | Amt. | Triggering | Details (Date) | ||||
(Symbol) | (Symbol; Country) | (M) | Event | |||||
Atrix Laboratories | Block Drug Corp. | $5 | First product | The companies entered an agreement in 12/96 | ||||
Inc. (ATRX) | (NASDAQ:BLOCA) | shipment | for Block Drug to market Atridox for treating | |||||
periodontal disease in North America; Block | ||||||||
began the 1st shipment of product to dentists, | ||||||||
triggering the $5M milestone payment (10/9) | ||||||||
The Immune | Agouron Pharma- | $5 | Quarterly | The companies entered an agreement in 6/98 to | ||||
Response Corp. | ceuticals Inc. (AGPH) | payment | collaborate on the final development and com- | |||||
(IMNR) | mercialization of the immune-based therapy | |||||||
Remune for treating HIV infection; this is the | ||||||||
1st in a series of quarterly payments Agouron | ||||||||
will make to Immune Response; it consists of | ||||||||
$3M for R&D and $2M for the purchase of 0.13M | ||||||||
shares of unregistered common stock (10/19) | ||||||||
Transkaryotic | Hoechst Marion | $2.5 | Hoechst | The companies signed an agreement in 1994 to | ||||
Therapies Inc. | Roussel Inc. (unit | Marion | develop gene-activated drugs; Hoechst Marion | |||||
(TKTX) | of Hoechst AG; | initiated | initiated Phase III trials of GA-EPO (erythro- | |||||
Germany) | Phase III trial | poietin), triggering the $2.5M milestone (9/29)* | ||||||
of GA-EPO | ||||||||
Vertex Pharma- | Glaxo Wellcome plc | $3 | Glaxo sub- | The companies signed a collaboration to develop | ||||
ceuticals Inc. (VRTX) | (NYSE:GLX; U.K.) | mitted NDA | HIV protease inhibitors in 12/93; Glaxo submit- | |||||
on Agenerase | ted an NDA to FDA on Vertex's drug Agenerase | |||||||
(amprenavir), triggering a $3M milestone pay- | ||||||||
ment to Vertex (10/16) | ||||||||
NOTE: | ||||||||
* Transkaryotic Therapies Inc. received its milestone payment in 9/98. The sum has been attributed to that month and is not included in the totals listed above. | ||||||||
III. PIPE/REG. S FINANCINGS: $0M | ||||||||
There were no PIPE/Reg. S financings in October. |