Company Location Date Amt. (M) Investors
Argonex Inc. Charlottesville, Va. 6/2 $7.5 Argonex raised $7.5M from lead investor
(1st round) Healthcare Ventures LLC and other (un-
named) venture capital investors
Atugen Biotech- Berlin 6/16 $7 Atugen Biotechnology was formed by
nology GmbH Ribozyme Pharmaceuticals Inc.; invest-
(start-up funding) ments of $50M over the next 5 years will
come from the private sector, led by MPM
Asset Management, as well as the German
government; MPM Asset will lead the ini-
tial venture capital investment of $7M;
Ribozyme Pharmaceuticals will retain a
majority ownership in Atugen
Caliper Palo Alto, Calif. 6/22 $7.4 Investors in this financing round included
Technologies current investors and partners Lombard
Corp. (4th round) Odier & Cie, Genesis Merchant Group
Securities and Hewlett-Packard Co.
Ciblex Corp. San Diego 6/10 $9 Ciblex Corp. was spun out of Prizm
(1st round) Pharmaceuticals Inc. (which has merged
with Matrigen Inc. and is now called Selec-
tive Genetics Inc.); the 1st financing
round was led by Falcon Technologies Inc.
and included Domain Partners III, Biotech-
nology Investments Ltd. and Biotechvest LP
Cognetix Inc. Salt Lake City 6/22 $6 Zesiger Capital Group LLC sponsored this
(4th round) financing round; Cognetix received $4M
upfront and will get an additional $2M on
the achievement of near-term milestones
Ekos Corp. Bothell, Wash. 6/11 $10 This Series B financing round included new
(2nd round) investors Bessemer Ventures (which led the
round) and Prizm Venture Partners; it also
included current investors The Spray Ven-
ture Fund, Weiss, Peck and Greer Venture
Partners, MedVenture Associates, Tech-
nology Partners and Arch Venture Partners
OraTol Ltd. London 6/3 $8.2 OraTol was spun out of Cortecs plc; 3-year
(start-up funding) financing of $8.2M was provided by Atlas
Venture, JAFCO, Kokusai Finance Co.
Ltd., Saito, Ito & Partners Co. Ltd. and 1
other (unnamed) investment fund; Cortecs
retains a 75% stake (prices converted at an
exchange rate of £0.61/US$1)
Pharming Group Leiden, the 4/27 $24 Investors participating in this round, which
NV (mezzanine) Netherlands occurred over the last 2 quarters, included
ABN Amro Participants BV, which invest-
ed $6.5M and NPM Capital, which invested
$5.5M; existing shareholders, including
Abingworth, Advent, Atlas Venture, Bio-
tech Fund Flanders, Hambrecht & Quist
Capital Management, SED Ventures, SITRA
Finland and the University of Leiden, together
contributed $7M; also, the American Red
Cross invested $4.5M and smaller investors
(not named) contributed $0.5M (total $24M,
at exchange rate of NLG2/US$1)*
Phytera Inc. Worcester, Mass. 6/30 $7.6 This oversubscribed financing round inclu-
(4th round) ded new institutional investors from Den-
mark, Sweden and the U.S., as well as some
of Phytera's early venture capital investors
(none of which was named); Carnegie Bank
A/S acted as the placement agent
RTP Pharma Inc. Montreal 6/30 $9.9 Current investors Caisse de Depot et de
(4th round) Placement du Quebec, Societe Generale de
Financement du Quebec and Elan Pharma-
ceuticals (a corporate collaborator) were
joined by other (unnamed) investors in this
round (prices converted at an exchange
rate of C$1.47/US$1)
Vitagen Inc. La Jolla, Calif. 6/17 $3 Vitagen (formerly Hepatix) raised $3M in a
(formerly Series B offering to lead shareholders Chase
Hepatix Inc.) Capital Partners LP, Alta Partners LP,
(4th round) Woodlands Essex, Venture Medical Hold-
ings and Paragon Ventures
* Pharming Holding NV's financing was announced in April. The proceeds have been attributed to that month and are not included in the total listed above.
Company Partner Amt. Triggering Details (Date)
(Symbol) (Symbol; Country) (M) Event
ArQule Inc. Wyeth-Ayerst Pharma- $2 Equity The companies signed a broad drug discov-
(ARQL) ceuticals (division of ery agreement in 7/97; the $2M equity in-
American Home Pro- vestment is in accordance with the terms of
ducts Corp.; NYSE:AHP) that agreement (6/11)
Axiom Cadus Pharmaceutical $2 Equity The companies signed a licensing agreement
Biotechnologies Corp. (KDUS) on Axiom's high-throughput pharmacological
Inc.* screening system (HT-PS) in 5/97; Cadus
received the 1st HT-PS system, triggering its
purchase of $2M in Axiom preferred stock
(giving Cadus a total of 30% ownership) (6/2)
Cor Therapeutics Schering-Plough Corp. $24 FDA The companies signed an agreement to de-
Inc. (CORR) (NYSE:SGP) approval velop and market Integrilin (a small molecule
of Integ- synthetic compound that inhibits the GPIIb/
rilin IIIa receptor that mediates platelet aggrega-
tion) in 4/95; the FDA approved the drug
5/19/98 for treating patients with acute coronary
syndromes and as an adjunct to percutaneous
coronary intervention; Cor received a $24M
milestone payment for the approval (6/9)
Corvas Schering-Plough Corp. $1 Initiation The companies signed an R & D agreement
International Inc. (NYSE:SGP) of Phase I on oral anti-thrombotic drugs for treating
(CVAS) clinical chronic cardiovascular disorders in 12/94;
trial Schering-Plough started Phase I trials of a
drug candidate, triggering the milestone
payment (6/10)
Cytogen Corp. The DuPont Merck $3.8 Termi- The companies signed a licensing and market-
(CYTO) Pharmaceutical Co. nation of ing agreement on Quadramet (Samarium 153
agreement EDTMP) for treating bone pain from cancer that
on Quadra- has spread to the bone in 12/94; that agree-
met ment was terminated and Cytogen received
a $3.8M payment from DuPont Merck (6/8)
MedImmune Inc. Abbott Laboratories $15 FDA The companies signed a worldwide market-
(MEDI) (NYSE:ABT) approval ing agreement on Synagis in 12/97; the
of Synagis FDA approved the product (a humanized
monoclonal antibody to respiratory syncy-
tial virus; RSV) for preventing the disease
in high-risk infants and children on 6/19/98;
Abbott paid MedImmune a $15M milestone
on FDA approval (6/19)
Zonagen Inc. Schering-Plough Corp. $5 Comple- The companies signed a worldwide market-
(ZONA) (NYSE:SGP) tion of ing agreement on Vasomax (immediate-
clinical release oral formulation of phentolamine
program on mesylate) for treating male erectile dysfun-
Vasomax ction in 11/97; Zonagen received an accel-
erated milestone payment of $5M, marking
the completion of the clinical program in
support of an NDA submission (6/11)
* Private companies are indicated with an asterisk.
Company Type Amount Number Of Share/ Discount Placement Agent (Date)
(M) Shares/ Unit Price
Units (M)
Enzon Inc. (ENZN) PIPE $19 4S $4.75 9% The company sold 4M un-
registered shares at $4.75 each
to a small group of current
and new institutional inves-
tors; SBC Warburg Dillon Read
Inc. led the financing (6/26)