I. FINANCING OF PRIVATE BIOTECHNOLOGY COMPANIES: $85.1M
Company Location Date Amt. (M) Investors
Cytovia Inc. Irvine, Calif. 4/1 $10 Cytovia was spun off from CoCensys Inc.
(1st round) in 1/98; in this 1st financing round, it
raised $10M from Domain Associates,
Crosspoint Venture Partners, Sanderling
Ventures and Forrest, Binkley & Brown
Kosan Biosciences Burlingame, Calif. 4/8 $15 Kosan sold $15M in convertible preferred
Inc. (2nd round) stock to new investors, led by S.R. One Ltd.
and including the Goldman Sachs Group,
Lombard Odier and AG-Biotech Capital;
they were joined by current investors
Alta Partners, Sofinnova, Walden and
Kosan cofounder Daniel Santi
Modex Therapeutics Lausanne, Switzerland 4/27 $8 This financing round was oversubscribed;
SA (2nd round) a group of European investors, led by Atlas
Venture, Banexi Ventures, 3i plc and Novar-
tis Venture Fund, was joined by current
investors Alta Partners, Alta Berkeley and
Lombard Odier Immunology Fund
Molecular Palo Alto, Calif. 4/28 $9.5 Investors in this financing round included
Applications Group Bay City Capital, Coral Ventures, Delphi
Inc. Ventures, Medicus Venture Partners,
Morgenthaler Ventures and private investor
Timothy Springer
Orchid Biocomputer Princeton, N.J. 4/13 $27.5 Orchid raised $27.5M through a Series C
Inc. (3rd round) convertible preferred stock financing, which
was led by Orbimed Advisors LLC and the
Invesco Funds Group. Other investors
included Oxford BioScience Partners, WPG
Farber, Millennium Ventures of Motorola
Inc. and SmithKline Beecham plc
Oxagen Ltd. Abingdon, U.K. 4/6 $13.7 Oxagen raised £8.2M ($13.7M) from new
(1st round) investors 3i plc and Advent Ltd. and pre-
vious investors The Wellcome Trust, the
University of Oxford and 2 unnamed pri-
vate investors
Reprogen Inc. Irvine, Calif. 4/17 $1.4 The company raised $1.4M in the 2nd
(1st round) tranche of its financing, bringing the total
to $6.5M (the 1st tranche closed 2/13/98);
new investors included Life Science Ven-
tures and Hambrecht & Quist LLC
II. MILESTONE PAYMENTS AND EQUITY INVESTMENTS FROM CORPORATE PARTNERS: $12.0M
Company Partner Amt. Triggering Details (Date)
(Symbol) (Symbol; Country) (M) Event
Atrix Laboratories Block Drug Corp. $7 Approvable The companies entered an agreement in
Inc. (ATRX) (NASDAQ:BLOCA) letter on 12/96 for Block Drug to market Atridox
Atridox in North America; the FDA sent Atrix an
approvable letter for Atridox for treating
periodontal disease, triggering the $7M
milestone payment (4/8)
Isis Ciba Vision Corp. $5 Submission The companies entered an agreement in
Pharmaceuticals Inc. (division of Novartis of NDA on 7/97 for Ciba Vision to market fomivirsen
(ISIP) AG; Switzerland) fomivirsen worldwide; the partners jointly submitted
an NDA for the antisense drug (for treating
AIDS-related cytomegalovirus retinitis),
triggering the $5M milestone payment (4/8)
III. PIPE/REG. S FINANCINGS: $0M
There were no PIPE/Reg. S financings in April.

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