I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $100.2M | ||||
Company | Location | Date | Amt. (M) | Investors |
CropDesign NV | Ghent, Belgium | 8/18 | $5 | GIMV-Biotech Fund Flanders co-led this |
(1st round) | financing round, with additional funds | |||
contribed by Sofinnova | ||||
Dynavax | Berkeley, Calif. | 8/3 | $16.5 | New investors in this Series B financing |
Technologies Corp. | included Axiom Venture Partners, Banc- | |||
(2nd round) | America Ventures and Biotechvest LP; | |||
they were joined by previous investors | ||||
Alta Partners, Forward Ventures, Inter- | ||||
West Partners and Sanderling Ventures | ||||
Genaissance | New Haven, Conn. | 8/27 | $10 | Genaissance raised $10M through the place- |
Pharmaceuticals Inc. | ment of Series A convertible preferred | |||
(1st round) | stock with the Biomedicine Group, Dres- | |||
dner Kleinwort Benson, Connecticut | ||||
Innovations, Merifin Capital and Winches- | ||||
ter Healthcare | ||||
The Medicines Co. | Cambridge, Mass. | 8/31 | $36 | Morgan Stanley Venture Partners served as |
(3rd round) | lead investor for this round of financing; | |||
as well, the company's 2 largest share- | ||||
holders, E.M. Warburg, Pincus & Co. Inc. and | ||||
Biotech Growth SA, bought 36 percent of | ||||
the new shares issued; other new investors | ||||
included Alta Partners, affiliates of Moore | ||||
Capital Management and Credit Suisse | ||||
Asset Management; they were joined by | ||||
existing investors Hanseatic Corp. and The | ||||
Medicines Co.'s management; BancAmerica | ||||
Robertson Stephens acted as the placement | ||||
agent | ||||
Pangaea | Cambridge, Mass. | 8/11 | $4.7 | Lombard Odier Cie led this financing |
Pharmaceuticals Inc. | round; seed investor Walden Group and | |||
(3rd round) | European Medical Ventures also partici- | |||
pated in the financing | ||||
RTP Pharma Inc. | Montreal | 8/6 | $3.5 | The company raised $3.5M from EGS Part- |
(5th round) | ners and Credit Agricole | |||
Vinifera Inc. | Portland, Ore. | 8/3 | $1.8 | Vinifera, a majority-owned subsidiary of |
(other) | Agritope Inc., sold 0.9M shares of common | |||
stock to its minority shareholders for | ||||
$1.8M; in conjunction with the financing, | ||||
Agritope exchanged $4M of working cap- | ||||
ital loans for 2M shares of Vinifera com- | ||||
mon stock, increasing its equity stake | ||||
from 61 percent to 64 percent | ||||
ViroLogic Inc. | South San Francisco | 8/26 | $12.6 | ViroLogic raised $12.6M by selling pre- |
(2nd round) | ferred stock to new investor Biotech | |||
Growth SA (a subsidiary of BB Biotech | ||||
AG) as well as current shareholders | ||||
The Capital Group and Soros Fund Manage- | ||||
ment | ||||
XTL Biopharma- | Rehovot, Israel | 8/24 | $10.1 | New investors in this private placement |
ceuticals Ltd. | included Biotechvest, Goldman Sachs and | |||
(5th round) | Nomura International; they were joined | |||
by current shareholders Medica and Bio- | ||||
technology Investments Ltd. (Rothschild) | ||||
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM CORPORATE PARTNERS: $8.2M | ||||
Company | Partner | Amt. | Triggering | Details (Date) |
(Symbol) | (Symbol; Country) | (M) | Event | |
Diatide Inc. | Nycomed Amersham | $2 | Submission | The companies signed a marketing agree- |
(DITI) | plc (U.K.) | of NDA | ment in 8/95 that covers Diatide's Tech- | |
for NeoTect | Tides (peptide-based imaging agents); | |||
Diatide submitted an NDA for NeoTect | ||||
(a lung cancer imaging product) in 6/98, | ||||
for which it received the $2M milestone | ||||
payment (8/24) | ||||
Medarex Inc. | Merck KGaA | $1.2 | Clinical | The companies signed an agreement in |
(MEDX) | (Germany) | progress | 4/94 to collaborate on the development of | |
of MDX-477 | Medarex's MDX-477 bispecific antibody for | |||
certain cancers; the product now is | ||||
entering Phase II trials in head and neck | ||||
cancer, triggering a $1.2M equity invest- | ||||
ment (0.192M shares of Medarex common | ||||
stock) by Merck KGaA (8/27) | ||||
Regeneron | Sumitomo Pharma- | $5 | License | The companies signed an R&D agreement |
Pharmaceuticals Inc. | ceuticals Co. Ltd. | agreement | to develop Regeneron's brain-derived | |
(REGN) | (Japan) | for BDNF | neurotrophic factor (BDNF) in Japan in | |
in Japan | 6/94; in 8/98, Sumitomo licensed the prod- | |||
uct for use in Japan, paying Regeneron | ||||
$5M as the initial fee (8/24) | ||||
III. PIPE/REG. S FINANCINGS: $0M | ||||
There were no PIPE/Reg. S financings in August. |
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