Company

Type Of Financing

Number Of Shares

Amount Raised

Investors

Abaxis Inc. (ABAX)

Private placement

ND

3

Abaxis placed $3M in convertible preferred stock with two institutional investors; the preferred stock can be converted to common at a fixed discount to market; Abaxis will register the underlying common stock for resale (7/97)

AccuMed International Inc.

Line of credit

_

8.5

"AccuMed received a commitment from Transamerica Technology Finance for an $8.5M credit line, consisting of $4.5M in loans for equipment and $4M in working capital (9/97)"

Advanced Viral Research Corp. (OTC Bulletin Board:ADVR)

Private placement

_

3

"The company raised $3M through the private placement of a 10-year, 7onvertible debenture with a European financial institution; the debenture is convertible into common shares at 700f market value; the company also issued warrants to buy 1.8M com"

Alexion Pharmaceuticals Inc.

Private placement

0.9S

10

"Alexion sold $10M in stock to BB Biotech, which bought 0.4M shares of Series B preferred stock at $25/share; the shares are convertible automatically in 6 months to 0.94M shares of common stock at $10.686 per share (a 30remium); the preferred stock wi"

Alpha 1 Biomedicals Inc. (OTC Bulletin Board:ALBM)

Private placement

0.000004U

0.2

"The company sold 4 units for $50,000 each; each unit consists of 0.5M common shares and 0.165M Class D purchase warrants (3/97)"

Alpha-Beta Technology Inc.

Private placement

3.4S

9.7

"The company sold 3.37M shares at $2.875 each to Ross Financial Corp. (of which Kenneth Dart is the principal, giving him a 17.3take in Alpha-Beta) in a Regulation D transaction (11/97)"

Alteon Inc.

Private placement

ND

5

Alteon placed $5M of 6umulative convertible preferred stock with investment funds advised by the Palladin Group LP; the purchasers also got warrants for 0.05M shares of common stock at $4.025 per share; the conversion price will be set at a 10 0iscoun

AMBI Inc.

Private placement

ND

4.5

"AMBI placed $4.5M of convertible preferred stock with 3 institutional investors; on satisfaction of certain conditions, these same investors will buy an additional $3.5M of preferred stock; in connection with the placement, AMBI issued purchase warrants f"

Amgen Inc.

Debt securities

ND

100

Amgen filed a shelf registration in 11/97 to sell up to $500M in debt securities; the company priced $100M of the 6.5otes (which mature on 12/1/07) via lead manager Goldman Sachs & Co. (12/97)

Aphton Corp.

Private placement

0.72S

10

The company sold 0.72M shares of common stock at $14 each and a 7-year warrant to buy 0.225M shares at $17.50 each (for total $10M) to an investment bank; the company did not use a placement agent (6/97)

Aquila Biopharmaceuticals Inc.

Sale of buildings


2

Aquila netted $2M from the sale of 3 lab and office buildings which house the diagnostic operations of Cambridge Biotech Corp. and BTRL Contracts and Services Inc. (which had been leasing the facilities from Aquila) (11/97)

Ariad Pharmaceuticals Inc.

Debt financing


6

Ariad completed a $6M debt financing with BankBoston; the debt is payable over 5 years (7/97)

Athena Neurosciences Inc. (wholly owned subsidiary of Elan Corp. plc)

Exchangeable notes


325

"Athena sold $325M aggregate principal amount of 4.75 0.000000e+00xchangeable notes due 11/15/04 that are guaranteed by Elan; the notes are exchangeable into Elan American Depositary Shares (ADS; 1 ADS = 1 common share) at a rate of 14.0758 Elan ADSs per $1,000 pr"

Atlantic Pharmaceuticals Inc.

Private placement

1.25S

12.5

Atlantic sold 1.25M shares of Series A preferred stock to private investors; each preferred share is convertible into 2.12 shares common stock at $4.721 per share; Paramount Capital Inc. acted as the placement agent (8/97)

Atrix Laboratories Inc.

Convertible notes

2.63S

50

Atrix sold $50M in 7onvertible subordinated notes due 2004 to qualified U.S. institutional investors as well as non-U.S. investors; the notes are convertible into 2.63M shares of common stock at $19/ share; the notes have a 7-year term and will be no

Aviron Inc.

Private placement

1.7S

15

"Aviron sold 1.7M shares at $8.75 each to Biotech Target SA, an affiliate of Biotech Growth SA (a current investor in Aviron), giving the two Swiss firms an 18take in Aviron; Aviron will register the shares for resale in 11/97 (4/97)"

Biocircuits Corp.

Private placement

ND

8

"Biocircuits raised $8M in a private placement, of which it received $1.7M in 4/97 and will receive $5.5M on the completion of certain milestones at the end of 2Q:97 and the remaining $0.8M at year-end 1997 (4/97)"

Biocircuits Corp.

Private placement

6.8U

5.1

Biocircuits placed about 6.8M units (each consisting of 1 common share and 1 share purchase warrant) for $5.1M; Pacific Growth Equities Inc. acted as the placement agent (7/97)

BioTime Inc.

Rights offering

0.28S

5.6

"BioTime sold 0.28M shares at $19.78 each (at a discount to market) to its shareholders in this rights offering, which was oversubscribed by $6.8M; shareholders got 1 right for each share owned and were entitled to buy 1 share per each 10 rights owned f"

Briana Bio-Tech Inc. (VSE:BIA; Canada)

Private placement

9.4W

3.1

Briana Bio-Tech closed the 2nd tranche of its placement of special warrants by selling 7.83M warrants at US$0.326 each to Canadian and European investment groups; it subsequently closed the 3rd tranche by selling an additional 1.56M warrants at the same p

Calypte Biomedical Corp.

Private placement

ND

10

Calypte raised $10M through a private placement of common stock; it provided no details of the transaction; Pacific Growth Equities Inc. acted as the placement agent (10/97)

Celgene Corp.

Private placement

ND

5

Celgene negotiated a $20M financing agreement with Chancellor LGT Asset Management Inc.; Celgene will issue Series B convertible preferred stock to be purchased by funds managed by Chancellor; the financing will be done in $5M tranches over 12 mon

Cell Genesys Inc.

Private placement

0.002S

20

"Cell Genesys placed $20M in convertible preferred stock; under certain conditions the company may exercise a put option and investors may exercise a call option for up to $10M more in convertible preferred stock; the company will issue 2,000 shares conver"

Cel-Sci Corp.

Private placement

0.01S

10

"The company sold 10,000 shares of convertible preferred stock to institutional investors; for the 1st 9 months, the stock is convertible into shares of common stock at $8.28/share; after that time, the conversion price is the lower of $8.28 or the marke"

Celtrix Pharmaceuticals Inc.

Private placement

5.7S

14

"Celtrix sold 5.7M shares common stock at $2.44 each to U.S. and foreign institutional investors; for every 2 shares, Celtrix issued a 3-year warrant to purchase 1 share stock at 1100f current market value; the warrants are exercisable only if the shar"

Cephalon Inc.

Private placement of notes

1.43S

30

"Cephalon issued $30M in senior convertible notes, which mature in 1/98 and bear 7% annual interest; the notes are convertible into common stock at 940f the market price at the time of conversion, but cannot be converted at less than $25 per share until "

Connective Therapeutics Inc. 1

Structured equity line flexible financing (SELF) agreement

ND

25

Connective Therapeutics entered into an equity line agreement with a group of investors affiliated with the Palladin Group; the equity line will be available for 3 years starting 4Q:97 and will provide the company with access to up to $25M through sale

Connetics Corp. 1

Private placement

1.81S

11

"The company self-managed this placement; it sold 1.81M shares of common stock at $6.05 each for gross proceeds of $10.95M; for every 2 shares of stock, the company also issued one 4-year warrant to buy 1 share common stock at 1500remium; participants "

Cortex Pharmaceuticals Inc.

Private placement

ND

3

Cortex raised $1.5M each in the 2nd and 3rd tranches of a 3-tranche private placement of Series D preferred stock (1/97; 2/97)

Cortex Pharmaceuticals Inc.

Private placement

ND

4

Cortex sold a total of $4M in newly issued Series A convertible preferred stock to a small group of institutional investors; the Series A stock is convertible into common stock at a variable discount; it also carries a special purchase right that allows

Cubist Pharmaceuticals Inc.

Private placement

0.98S

6

Cubist sold about 0.98M shares of common stock at $6.125 each to International Biotechnology Trust (IBT; managed by Rothschild Asset Management) and Hambrecht & Quist Capital Management; IBT bought 0.82M of those shares on 7/18 and subsequently boug

CV Therapeutics Inc.

Private placement

1.4S

12.9

"The company sold 1.4M shares of common stock at $9.25 each to Biotech Target SA, an affiliate of new investor BB Biotech AG of Switzerland, which now holds a 16.6take in CV Therapeutics (10/97)"

Cyanotech Corp.

Line of credit


1

First Hawaiian Bank increased CyanotechFs line of credit by $1M (3/97)

Cypress Bioscience Inc.

Private placement

3.4S

5.1

"Cypress sold 3.4M shares at $1.50/each to a group of investors, most of which are already shareholders; one new institutional investor, however, accounted for 200f the sale (10/97)"

Cypros Pharmaceutical Corp.

Private placement

1.1S

5

The company sold $5M in common stock (1.08M shares) to qualified investors; more than 90% was purchased by the president and fellows of Harvard College; the company registered the shares for resale (3/97)

Cypros Pharmaceutical Corp.

Exercise of warrants

0.856W

4.7

Cypros raised $4.7M through the exercise of 0.856M Redeemable Class B warrants at $5.50 each (11/97)

Cytel Corp.

Private placement

4.8S

8.4

"Cytel sold 4.8M shares of common stock at $1.75/each to a small number of institutional and other accredited investors (one of which, International Biotechnology Trust plc, bought 1.14M shares); Cytel will register the stock for resale; BT Alex. Brown"

Cytogen Corp.

Private placement

ND

7.5

"Cytogen completed the initial $7.5M of a $20M financing with a small group of private investors, which are buying 6onvertible preferred stock; Cytogen has the option to draw down the remaining $12.5M from the same investors over the next year; the "

CytoTherapeutics Inc.

Saleleaseback of facility

ND

5.5

CytoTherapeutics sold its new research facility for $8M (net $5.5M) to a subsidiary of Health and Retirement Properties Trust; it also signed a 15-year lease with the purchaser (11/97)

CytRx Corp.

Private placement


2

"CytRx placed $2M in convertible debentures, which will not be convertible into common stock for 60 days; thereafter, the shareholder has the option of converting at the lesser of 850f market price for common stock or $5.68/share; CytRx also issued 2-y"

DepoTech Corp.

Private placement

1.0S

14.6

Ross Financial Corp. bought 1M shares of DepoTech common stock at $14.625/each (9/97)

Diatide Inc.

Private placement

1.2S

11.8

The company sold $11.8M of preferred stock to 3 of its existing investors; the preferred stock is convertible into 1.2M shares of common stock; the investors also got 2-year warrants to buy 0.18M shares of common stock at $11.70 each (for $2.1M); the in

Dura Pharmaceuticals Inc.

Convertible subordinated notes


287.5

"Dura raised $287.5M from a sale to the public of 3.5onvertible subordinated notes, due 2002; the notes are convertible into Dura common stock; the offering was made through Merrill Lynch & Co. and Goldman, Sachs & Co., which initially sold $250M in not"

Endorex Corp.

Interim financing


1

"The Aries Funds, major stockholders in Endorex, will provide the company with up to $1M in an interim loan pending the completion of an ongoing private placement of unregistered shares (5/97)"

Endorex Corp.

Private placement

8.6S

20

"Endorex raised a total of $20M through the sale of 8.6M shares at $2.3125 each in this 2-tranche private placement; in the 1st tranche, it sold $2M to The Aries Funds, 2 of the companyFs major stockholders; funding in the 2nd tranche came from institut-"

Envirogen Inc.

Private placement

6.1S

16

"Envirogen sold 6.1M shares of common stock at $2.62 each to Warburg, Pincus Ventures LP; the company used part of the proceeds to fund the cash portion of its acquisition of Fluid Management Inc.; the shares are restricted from resale for 1 year (4/97)"

GalaGen Inc.

Convertible debentures


1.5

"GalaGen raised $1.5M through the private placement of 6onvertible debentures, which are convertible into common stock (maximum of 1.4M shares) at an undisclosed discount to market; purchasers also got 5-year warrants to purchase 0.2M shares of common"

Genetronics Biomedical Ltd. (VSE:GEB)

Private placement

1.3W

4

The company sold 1.3M special warrants at $3.08 each; each warrant entitles the holder to buy 1 common share; Canaccord Capital Corp. acted as the placement agent (price converted at an exchange rate of C$1.38/US$1) (3/97)

Genetronics Biomedical Ltd. (VSE:GEB)

Exercise of warrants

1.3S

3

The company raised US$3M from the exercise of share purchase warrants to buy 1.3M common shares at US$2.30 each (prices converted at a rate of C$1.38/ US$1) (6/97)

Gensia Inc.2

Private placement

2.06S

8.2

Gensia sold a total of 2.06M shares of common stock in a series of placements in 12/96 and 1/97 to existing institutional shareholders; Gensia will register the shares for resale (1/97)

Gensia Sicor Inc. 2

Private placement

4.0U

17

"Gensia Sicor sold 4M units to accredited investors, including several members of the board of directors; each unit consists of 1 share common stock and 1 purchase warrant for 0.5 shares common stock; Gensia Sicor will register the shares for resale, but"

Gensia Sicor Inc.

Private placement (notes and warrants)


20

"Gensia Sicor placed $20M in convertible notes and warrants with Health Care Capital Partners L.P., a fund managed by Ferrer Freeman Thompson & Co. LLC; the notes, due in 2004, bear a coupon of 2.675%; the notes are convertible into Gensia Sicor conver"

Gensia Sicor Inc.

Private placement

2.4U

14.4

"Gensia Sicor sold 2.4M units for net proceeds of $14.4M; each unit consists of 1 share and 1 warrant to buy 0.5 shares common stock at 1250f the unit purchase price; the units in this self-managed offering were sold to accredited investors, inclu-"

Gensia Sicor Inc.

Sale of land

y

2.6

The company sold a parcel of land near its former corporate offices in San Diego (12/97)

Genta Inc.

Private placement

20.0S

3

"The Aries Fund and the Aries Domestic Fund LP are investing $3M in Genta, with $0.25M advanced immediately and the remaining $2.75M to be provided no later than 2/7/97; Genta will issue to the Funds a senior secured note and warrants to purchase 20M com"

Genta Inc.

Private placement

ND

12

"Genta raised $12M through the sale of premium preferred units in an oversubscribed offering; each unit consists of 1,000 shares Genta preferred stock (with a stated value of $100/share) and 5-year warrants to purchase 5,000 shares Genta common stock"

Genzyme Tissue Repair

Private placement

ND

13

"The company placed a $13M, 5onvertible note due in 2000; the note will be convertible into Genzyme Tissue Repair common stock at a discount to market at the time of conversion (from 980f market after 6 months from issue to 890f market after 1"

Hyal Pharmaceutical Corp. (NASDAQ: HYALF; Canada)

Private placement


9.8

"Hyal raised US$9.8M through the sale of 3-year, 14.5ubordinated convertible debentures to institutional investors; the debenture and interest are convertible into common stock based on an undisclosed formula conversion price (11/97)"

Hybridon Inc. (OTC Bulletin Board:HYBN)

Sale of convertible subordinated notes


50

Hybridon sold $50M in 9onvertible subordinated notes due 2004; the notes will be convertible into shares of common stock at $7.0125 per share (3/97)

IBEX Technologies Inc. (TSE:IBT; Canada)

Exercise of warrants

1.3S

2.5

"IBEX issued 1.3M common shares on the exercise of warrants, which had been issued as part of a 10/95 private placement (prices converted at an exchange rate of C$1.38/US$1)(3/97)"

Icos Clinical Partners LP (affiliate of Icos Corp.)

Private placement

5.54S

64

"Icos Clinical Partners closed the initial sale to private investors of interests in the partnership for $64M gross, with $14M payable on closing and the balance paid in installments over 3 years; in connection with the closing, Icos Corp. issued 4-year wa"

Icos Clinical Partners L.P. (affiliate of Icos Corp.)

Private placement

2.0S

23.5

"This is the 2nd tranche of a financing that raised a total of $87.5M for Icos Clinical Partners (the 1st tranche, completed in 6/97, raised $64M); in connection with the 2nd closing, Icos issued purchase warrants for 2M shares of Icos stock at $10.35/shar"

ID Biomedical Corp. (Canada)

Private placement

1.5W

4.3

ID Biomedical sold 1.5M special warrants at US$2.86 each for US$4.3M total; each warrant is exercisable into 1 share common stock and 0.5 common shares purchase warrant; each whole-share purchase warrant will entitle the purchase of 1 common share for U

IGEN International Inc.

Private placement

ND

25

The company sold $25M in convertible preferred stock to current as well as new investors; Credit Suisse First Boston managed the offering (12/97)

The Immune Response Corp.

Private placement

2.03S; 2.03W

15.8

"Immune Response insiders Kevin Kimberlin (a director and co-founder) and Dennis Carlo (president and CEO) bought $15.8M in units, consisting of common stock and stock purchase warrants, at $7.80 per unit; the placement consists of 2.03M unregistered s"

ImmunoGen Inc.

Private placement

ND

3

"Biotechnology Value Fund, LP and affiliates invested $3M in preferred stock and warrants; the preferred stock will be convertible into common at $1.0625/share after 2 years (12/97)"

Imutec Pharma Inc. (TSE:IMT; Canada)

Private placement

3.57S; 3.32W

6

"Imutec sold 3.57M common shares and 0.09M warrants at a price of US$1.00 per unit as well as 2.43M special warrants (also at US$1.00 each) to Sofinov, the Working Ventures Canadian Fund and a large European healthcare fund; each warrant can be used to b"

Inflazyme Pharmaceuticals Ltd. (VSE:IZP;Canada)

Private placement

3.26U

4.4

"Goldman Sachs LLP and Biotechnology Investments Ltd. each bought 1.63M units for $2.2M; each unit consists of 1 common share and 1 warrant to purchase 1 share (at a higher but undisclosed price) by 3/6/00; assuming the investors exercise the warrants, e"

InKine Pharmaceutical Co. Inc. 3

Private placement

17.0S

17

"The company sold 17M shares of unregistered common stock at $1/each to institutional investors, which included Biotechnology Development Fund LP, Veron International Ltd. (Nina King Wang), Oxford Bioscience Partners II and Bankers Trust; simultane"

InSite Vision Inc.

Private placement

ND

8

"InSite Vision received $7M from the sale of convertible preferred stock to a group of institutional investors, led by an affiliate of Credit Suisse First Boston Corp.; the preferred stock will convert to common after 3 years; William Blair & Co. acted a"

Interferon Sciences Inc.

Private placement

5.6S

9.1

Funds managed by Chancellor/LGT Capital Management bought 5M shares at $1.625 each (for a 10take in Interferon Sciences) and the clients of Zesiger Capital bought 0.615M shares at $1.625 each (for 5.6 0.000000e+00quity). Sunrise Securities Corp. acted as the pla

Isis Pharmaceuticals Inc.

Debt financing


25

Isis arranged this $25M private debt financing with an institutional investor; the debt matures in 10 years; interest payments accrue during the 1st 5 years and are payable quarterly in cash at 140er year thereafter; in connection with the financi

Lidak Pharmaceuticals

Private placement


6

Lidak raised $6M by placing a 3-year convertible note with a single institutional investor; the noteholder is entitled to receive warrants exercisable for 1 share Lidak Class A common stock per each 2 shares issued on conversion of the note; the 5-yea

The Liposome Co. Inc.

Private placement

1.0S

20.9

"Ross Financial Corp., an investment pany owned by Kenneth Dart, bought 1M shares at $20.875 each (the market price), giving Dart a 16.3 0.000000e+00quity stake in the company (he had bought 5.05M shares in the open market for a 13.9take); the companyFs board als"

LXR Biotechnology Inc. 4

Private placement

1.4S

2.8

"This is the final closing of the private placement, which was managed by Sunrise Securities Corp.; in 12/96, LXR sold $7.6M of shares (also at $2.00 each, also unregistered), for total proceeds of $10.4M (1/97)"

LXR Biotechnology Inc.

Private placement

4.4S

7.8

"LXR sold a total of 4.44M shares at $1.75 each to a small number of institutional investors, led by Grace Brothers Ltd., in two tranches; the company will register the shares for resale (12/97)"

Lynx Therapeutics Inc.

Private placement

2.7S

26.8

"Lynx raised $26.8M in this private placement of 2.68M shares at $10.00/each; investors included the WPG Farber-Weber Fund, Mehta & Isaly, Lombard Odier Zurich, the Tisch family, INVESCO Trust Co., Hambrecht & Quist Capital Management and Partech Inter"

MacroChem Corp.

Exercise of warrants and unit purchase options

ND

18

"MacroChem received $18M during 4Q:97 from the exercise of its Class A and Class AA warrants and unit purchase options, all of which expired 12/15/97 (12/97)"

Maxim Pharmaceuticals Inc.

Line of credit


0.9

Silicon Valley Bank will advance Maxim up to $0.9M during 1997 to fund purchase of equipment (3/97)

Micrologix Biotech Inc. (Canada)

Exercise of warrants

2.7S

5.5

Micrologix raised $5.5M through the exercise of warrants issued as part of a 9/95 private placement; 2.7M common shares have been issued as a result (prices convert ed at a rate of C$1.36/US$1) (3/97)

NaPro BioTherapeutics Inc.

Private placement

ND

10

"NaPro placed $10M in senior convertible notes, which mature in 6/00 and bear 5% annual interest (which may be paid in common stock or cash); initially the notes are convertible into common stock at $10 per share and starting in 10/97, at a discount to mar"

NaPro BioTherapeutics Inc.

Private placement

0.005S

5

"The company sold $5M in Series C senior convertible preferred stock to Advantage Fund II Ltd.; the shares were priced at $1,000 each and are convertible into common stock at $10.00 each until 4/98, at which time they will be convertible at a discoun"

NeoRx Corp.

Private placement

ND

12

NeoRx sold $12M of Series III convertible preferred stock to private investors; the preferred stock is convertible into common stock before 3/99; NeoRx will register both types of shares (4/97)

Neose Technologies Inc.

Countyissued bonds


9.4

"Montgomery County, Pa. issued $9.4M in taxable and tax-exempt bonds to Neose to fund its purchase of its headquarters facility and to expand its GMP manufacturing capability; the financing was supported by a credit enhancement structure provided by Jeff"

NeXstar Pharmaceuticals Inc.

Convertible subordinated debentures


75

NeXstar sold $75M of its 6.25onvertible subordinated debentures due 2004 in a private placement; the debentures are convertible into common stock at $16.875 each; SBC Warburg Dillon Read Inc. was the lead manager and Oppenheimer & Co. acted as the

Novavax Inc.

Private placement

1.2S

5.1

Novavax sold 1.2M shares at $4.25 each to Anaconda Opportunity Fund LP; the company also granted 3-year purchase warrants for 0.6M shares at $6.00 each and 0.6M shares at $8.00 each; Novavax will register the shares for resale (2/97)

Oncor Inc.

Private placement

ND

10

Oncor placed $10M of 6% 5-year unsecured notes convertible into shares of common stock and warrants to purchase 0.25M shares of common stock at $5 each; the placement was completed with investment funds advised by Promethean Investment Group LLC; Oncor wi

Palatin Technologies Inc. (Electronic Bulletin Board:PLTN)

Private placement

11.1S

13.8

"Palatin raised $13.8M through the placement of Series A preferred stock, which is convertible to 11.1M shares of common stock at $1.24 each; the stock was placed in 2 tranches with institutions and accredited individuals; the company will register the"

Penederm Inc.

Private placement

0.75S

$9.60

Penederm sold 0.752M shares of common stock at $12.766 per share to institutional investors; the transaction was arranged by Volpe Brown Whelan & Co. LLC (3/97)

Pharmacyclics Inc.

Private placement

0.86S

$16.40

"Pharmacyclics sold 0.86M shares at $19.05 each to 4 investors, for gross proceeds of $16.4M (2/97)"

PharmaKinetics Laboratories Inc. (OTC Bulletin Board:PKLB)

Private placement

14.6S

$5

"PharmaKinetics sold 833,300 shares of Class A convertible preferred stock (convertible into 8.33M shares common stock) plus 3-year purchase warrants for 6.25M shares of common stock (exercisable at $1.20/share) to a group of investors led by CAI Adviso"

Pharmos Corp.

Private placement

ND

$6

Pharmos raised $6M by placing an undisclosed number of shares of convertible preferred stock and warrants with institutional investors; the preferred stock is convertible into common shares based on the stock price at the time of conversion (4/97)

Procept Inc.

Private placement

ND

$3

"Procept raised $3M from The Aries Fund and The Aries Domestic Fund, LP in exchange for a promissory note in the principle amount of $0.2M, shares of common stock and share purchase warrants; Procept must get approval of its stockholders permitting "

Quidel Corp.

Exercise of warrants

1.7S

$5

"Quidel received $5M from the exercise of warrants issued in 1/91 in connection with a private financing; the warrants were exercisable at $2.95 per share and resulted in the issue of 1.7M shares of common stock; The Morgan Investment Corp., which held t"

Receptagen Ltd. (TSE:RCG)

Special warrants offering



$1.80

Receptagen and InterUnion Financial Corp. closed a US$1.8M special warrants offering that was the 3rd and final phase of the company¿s restructuring; Credifinance Securities Ltd. acted as the placement agent (price converted at an exchange rate of C$1

Repligen Corp.

Private placement

2.0S

$2

"Biotechnology Value Fund LP, its affiliates and Four Partners invested $2M in Repligen through the purchase of 2M shares of common stock and purchase warrants for 0.75M shares at $1.50 each (12/97)"

Shaman Pharmaceuticals Inc.

Loan



$5

"Shaman secured a $5M, 3-year loan through Meier Mitchell & Co.; in conjunction with the loan, Shaman issued a warrant to purchase 0.2M shares of common stock at $6.25 each, executable over 10 year-period; the loan carries a 14.5 0nterest rate (5/97)"

Shaman Pharmaceuticals Inc.

Private placement



$10

"Shaman placed $10M of senior convertible notes, which mature in 7/00 and bear a 5.5% annual interest rate; Shaman has the option of paying the interest in cash or stock; the notes are initially convertible at 1000f trading price with a floor of $5.5"

Sheffield Pharmaceuticals Inc.

Private placement

0.035S

$3.50

"The company sold 35,000 shares of 7% Series A convertible preferred stock to 3 institutional investors; the shares were priced at $100 each (3/97)"

Sheffield Pharmaceuticals Inc.

Convertible debentures



$1.80

"Sheffield raised $1.75M in interim financing by issuing 6% redeemable convertible debentures, which mature in 3 years (9/97)"

Sugen Inc.

Convertible notes



$17.50

"Sugen sold $17.5M in senior convertible notes, which can be converted 3 months after closing at 1000f market value; the notes mature in 9/00 and bear 5% annual interest (which may be paid in cash or Sugen common stock); the conversion price may not ex"

SunPharm Corp.

Private placement

1.83U

$6.40

"SunPharm sold 1.83M units to institutional investors Hambro Health International Inc., New York Life Insurance Co., InterSouth Partners and 2 European pension funds; each unit consists of 1 share common stock and 1 warrant to buy 1 share common stock (4"

SuperGen Inc.

Private placement

ND

$15.30

"Lawrence Ellison, chairman of Oracle Corp., invested $15.3M in SuperGen common stock; according to the agreement in principle (announced 4/97), Ellison was to buy $15M of common stock at $9.00 per share; according to the terms of that original agreement"

SuperGen Inc.

Private placement

ND

$8.80

SuperGen raised $8.8M through a selfmanaged private placement of an undisclosed number of unregistered common shares (8/97)

SuperGen Inc.

Private placement

ND

$7.60

"Tako Ventures, an investment vehicle controlled by Lawrence Ellison, bought an additional $7.6M in common stock in the 2nd phase of the financing agreement announced in 4/97; Tako/Ellison have now invested $23M in SuperGen and own 130f the outstandin"

Synsorb Biotech Inc. (Canada)

Exercise of warrants

1.0S

$3.60

"Erin Mills Investment Corp., a venture capital firm, exercised its warrant to buy 1M shares of Synsorb common stock at US$3.57 each; the warrant was issued in 1994 pursuant to a subscription agreement (prices converted at a ratio of C$1.4/US$1) (10/97)"

Techniclone Corp.

Private placement

ND

$12

Techniclone sold $12M of convertible preferred stock to a small group of institutional investors; Capello and Laffer Capital Corp. acted as the placement agent (4/97)

Techniclone Corp.

Private placement

0.14S

$0.60

"Sanderling, a venture capital firm, bought 143,979 shares of Techniclone common stock for $0.55M, expanding its stake to 6% (Sanderling also received Techniclone shares when the latter acquired Peregrine Pharmaceuticals in 6/97) (7/97)"

Texas Biotechnology Corp.

Private placement

0.006S

$6

"The company placed 6,000 shares (priced at $1,000 each) of 5umulative convertible preferred stock with a fund managed by The Palladin Group and a fund managed by an affiliate of Rose Glen Capital Group; the preferred stock is convertible at current "

Triangle Pharmaceuticals Inc.

Private placement

2.0S

$30

"Triangle sold 2M newly issued shares of common stock, at $15 each, (a 15 0iscount to the 30-day trading average) to several funds managed by Soros Fund Management LLC (2 non-U.S. entities under Regulation S and 1 accredited investor under Regulat"

Vion Pharmaceuticals Inc.

Private placement

ND

$4.50

Vion raised $4.53M through the private placement of an undisclosed amount of Class B preferred stock (8/97)

Viragen Inc.

Private placement

ND

$20

Viragen placed $20M in newly issued Series C and D convertible preferred stock with institutional investors; the conversion price of the preferred stock will be determined at time of conversion (1-year automatic conversion for Series C; 2-year automati

Viragen Inc.

Private placement

ND

$5

Viragen sold $5M in 5% Series E convertible preferred stock to institutional investors; the conversion price of the preferred stock will be determined at time of conversion (3/97)

Xoma Corp.

Private placement



$12.50

"Xoma sold $12.5M in 5onvertible preferred stock to Southbrook International Investments Ltd., HBK Investments Ltd., the Brown Simpson Strategic Growth Fund LP and an affiliate of Credit Suisse First Boston; there are limits on conversion price and "

Xoma Corp.

Royalty interest transaction



$17

Xoma sold the rights to the future royalty stream issuing from sales of Rituxan to Pharmaceutical Partners LLC for $17M; Xoma had licensed its CD20 antibody patent rights exclusively to Genentech Inc. which then sublicensed those to Idec Pharmaceutica

Xytronyx Inc.

Private placement

0.000067U

$6.70

"The company completed its placement of a total of 100 units at $100,000 each to accredited individuals and institutional investors (the first closing occurred in 12/96); each unit consists of 500 shares of preferred stock and 50,000 shares common stock"


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