December was the third best month of 1993 for biotechnologyfinancings, with companies raising a total of $275 million in publicand private placements. Only in January and November, with haulsof $520 million and $394 million, respectively, did biotechnologycompanies reap more money.

As in November, public offerings far outpaced private investments.In December, public offerings raised $189.58 million, while privateplacements brought in $85.01 million.

Here are summaries of transactions for the month:


-- Human Genome Sciences Inc. (NASDAQ:HGSI) of Rockville, Md.,completed its long-awaited initial public offering on Dec. 2, grossing$27 million on the sale of 2.5 million shares at $12 per share;

-- Texas Biotechnology Corp. (ASE:TXB.E) of Houston raised $24million (3.55 million units at $6.75 each) on Dec. 16;

-- Viagene Inc. (NASDAQ:VIGN) of San Diego garnered $18 million (2million shares at $9 per share) on Dec. 16; and

-- SangStat Medical Corp. (NASDAQ:SANG) of Menlo Park, Calif.,grossed $11 million (1.57 million shares at $7 per share) on Dec. 14.

Follow-ons and other Public Offerings

-- PerSeptive BioSystems Inc. (NASDAQ:PBIO) of Cambridge, Mass.,raised $50.6 million in a special purpose offering to fund its new R&Dspinoff, PerSeptive Technologies II Corp., on Dec. 21;

-- Calgene Inc. (NASDAQ:CGNE) of Davis, Calif., gained $9.2 million in ashelf offering (750,000 shares at $12.30 per share) on Dec. 17;

-- NeoRx Corp. (NASDAQ:NERX) of Seattle raised $16 million in afollow-on offering (2 million shares at $8 per share) on Dec. 14;

-- Shaman Pharmaceuticals Inc. (NASDAQ:SHMN) of South SanFrancisco, Calif., garnered $19.55 million in a follow-on offering (2.3million shares at $8.50 per share) on Dec. 3; and

-- Biomira Inc. (NASDAQ:BIOMF) of Edmonton, Alberta, raised $14.2million (U.S.) in a follow-on offering (2 million shares at $7.5 pershare) on Dec. 2.

Private Financings

-- Insmed Pharmaceuticals Inc. of Charlottesville, Va., raised $1million on Dec. 22 from the sale of series A preferred stock;

-- Cell Therapeutics Inc. of Seattle raised $13.9 million on Dec. 22;

-- Biostar Inc. of Saskatoon, Saskatchewan, brought in $8.2 million(U.S.) in its first round of equity financing on Dec. 17 (5.45 millionshares at $1.50 each);

-- Alexion Pharmaceuticals Inc. of New Haven, Conn., garnered $5million on Dec. 16;

-- Alliance Pharmaceutical Corp. (NASDAQ:ALLP) of San Diegogrossed $16.4 million through the private placement ofapproximately 2.2 million shares at $7.50 each on Dec. 14;

-- Receptagen Ltd. of Vancouver, British Columbia, completed aprivate placement of $7.5 million (U.S.) in special warrants on Dec.14;

-- Diatech Inc. of Londonderry, N.H., garnered $11.5 million inprivate financing on Dec. 3;

-- Xytronyx Inc. (ASE:XYX) of San Diego grossed $1.28 million in aprivate placement of units on Dec. 3 and an additional $1.23 millionin a separate private placement on Dec. 29; and

-- Somatix Therapy Corp. (NASDAQ:SOMA) of Alameda, Calif., raised$11.7 million through the private placement of 2 million shares at$5.85 each on Dec. 2.

-- Brenda Sandburg News Editor

(c) 1997 American Health Consultants. All rights reserved.