Other Financings Of Public Biotechnology Companies: March 2007

Company
(Symbol)^#
(M)

Type Of
Financing

Number Of
Shares,
Units
Or Warrants

Amount
Raised
(M)

Investors; Placement Agents; Details
(Date)^@

Amorfix Life
Sciences Ltd.
(Canada;
CDNX:AMF)

Private placement of units

7.69U

C$10
($8.5)

Amorfix sold about 7.69M units at C$1.30 per unit, each consisting of one common share and half a warrant; each whole warrant entitles the holder to purchase one common share at C$1.95 for two years; underwriters were Versant Partners Inc., Fraser Mackenzie Ltd. and Pacific International Securities Inc. (3/8)

Avexa Ltd.
(Australia;
ASX:AVX)

Private placement and a rights issue

N/A

A$75 ($60.1)

Avexa raised the money through a private placement to U.S. investors and a fully underwritten rights issue available to existing shareholders; Passport Management LLC USA was lead investor in the U.S. portion, and Ranklin Templeton Investments also participated; the rights issue was underwritten by ABN AMRO Morgans Corporate Ltd. (3/21)

Calypte
Biomedical
Corp. (OTC BB:
CBMC)

Subscription agreement

100S and 100W

$5.2

Calypte issued 100M shares at 0.052 cents per share to four investors; they also received 150M warrants exercisable over the next 18 months (3/29)

Can-Fite
BioPharma Ltd.
(Israel; TASE:
CFBI)

Private placement of shares and options

32S and 12.8 options

NIS40 ($9.5)

Can-Fite raised $9.5M through investors Prisma, Yellin-Lapidot and Tamir Fishman, as well as funds of the Israel Aircraft Industries and Bank Otzar Hehayal (3/8)

Cardium
Therapeutics
Inc. (OTC BB:
CDTP)

Private placement of stock and warrants

8.6S with W for 3S

$21.5

Cardium is issuing about 8.6M common shares at $2.50 apiece with 35% warrant coverage, representing an additional 3M shares; the warrants have a five-year term and are immediately exercisable at $3.75 per share; Oppenheimer & Co. Inc. is the placement agent (3/6)

Chelsea Therapeutics
International
Ltd. (CHTP)

Private placement of stock and warrants

2.6S and 0.794W

$12.5

The stock was sold at $4.72 per share; the warrants are exercisable at $5.66 per share; Leerink Swann & Co. was placement agent (3/19)

Cleveland
BioLabs Inc.
(CBLI)

Private placement of
convertible
stock and
warrants

4.29S and 2.14W

$30

The Series B convertible preferred stock pays 5% interest; it is convertible for 2.5 years at an initial price of $7 per share; warrant terms were not dis- closed (3/19)

CytRx Corp.
(CYTR)

Exercise
of warrants

6.27W

$10.6

CytRx has received about $10.6M this year through the exercise of warrants issued in prior equity financings and other transactions, and from the exercise of employee stock options (3/21)

Cytori
Therapeutics
Inc. (CYTX)

Equity agreement

1S

$6

Cytori issued 1M shares to Green Hospital Supply Inc. at $6 each (3/29)

Diversa Corp.
(DVSA)

Private placement of convertible senior notes

N/A

$120

Diversa raised $120M through the placement of $120M in 5.5% convertible senior notes due 2027, which includes an overallotment option (3/30)

Genta Inc.
(GNTA)

Registered direct offering

30S

$11

The registered shares were sold to institutional investors; Rodman & Renshaw LLC was placement agent (3/14)

Iomai Corp.
(IOMI)

Private placement of units

6.29U

$31.9

Iomai raised $31.9M through the placement of 6.29M units, each consisting of one share and 0.7 warrants at $5.0675 per unit; the price for the shares was $4.98, while the warrants (4.4M in total) were sold for about 9 cents per unit and are exerercisable at $5.25 per share (3/2)

Karo Bio AB
(Sweden;
SSE:KARO)

Rights issue

38.7S

SEK406 ($58.2)

Karo Bio had advance commitments from shareholders; it plans to issue up to 38.7M shares at SEK10.50 per share (3/28)**

Lpath Inc.
(OTC BB:LPTN)

Private placement of stock and warrants

N/A

$17

Lpath raised $17M through the offering of stock and warrants (3/29)

Med BioGene
Inc. (Canada;
CDNX:MBI)

Private placement of units

4U

C$2 ($1.73)

Med BioGene is selling 4M units at C50 cents each; each unit consists of one common share and one- half of one warrant to purchase a common share at C80 cents within 18 months (3/27)

Memory
Pharmaceuticals
Corp. (MEMY)

Term loan

N/A

$6

Hercules Technology Growth Capital Inc. provided a $6M term loan; Memory has an option to borrow $4M more under the deal; Hercules also got a five- year warrant to purchase 598,086 shares at $2.09 per share (3/19)

MultiCell
Technologies
Inc. (OTC BB:
MCET)

Private placement of convertible debentures

3 debentures and a W for 10S

$13

MultiCell completed the financing with La Jolla Cove Investors; it sold 3 convertible debentures and granted a warrant to purchase up to 10M shares at $1.09 each over the next five years (3/7)

Neose
Technologies
Inc. (NTEC)

Private placement of stock and warrants

21.44S and W for 9.65S

$43.3

Neose raised about $43.3M through a private placement of 21.44M shares and warrants to buy about 9.65M shares, at $2.02 per unit; the units were purchased by institutional investors and investment funds affiliated with directors (3/9)

Neuralstem
Inc. (OTC BB:
NRLS)

Private placement of stock and warrants

2.054S and 1.027W

$5.14

Units were sold at $2.50 each; the warrants are exercisable at $3 per share; T.R. Winston and Co. was placement agent (3/16)

Neuro-Hitech
Inc. (OTC BB:
NHPI)

Private placement

N/A

$5.6

Neuro-Hitech closed a private placement of $5.6M (3/21)

Penwest
Pharmaceuticals
Co. (PPCO)

Secured credit facility

N/A

$12

Penwest received $12M from a term loan and could borrow up to $12M more through Sept. 15, 2008; the interest rate is fixed based on the one- month LIBOR rate plus 5% (3/13)

Redpoint
Bio Corp.
(OTC BB:RBCR)

Private placement of stock and warrants

24.7S and 6.2W

$20

Redpoint gained a public listing through a reverse merger with Robcor Properties Inc.; concurrently, it sold the shares at $0.81 each; the warrants are exercisable at $1.35 per share (3/12)

ReGen
Biologics Inc.
(OTC BB:RGBI)

Private equity placement

0.07S and W for 0.02S

$3

ReGen raised $3M after selling 71,429 shares of restricted Series D convertible preferred stock at $42 apiece, and issued five-year warrants equal to 30% of the purchased shares, representing 21,429 shares exercisable at $63 apiece (3/6)

Stem Cell
Therapeutics
Corp. (Canada;
CDNX:SSS)

Private placement of units

4U

C$2 ($1.7)

Stem Cell raised $1.7M through the sale of 4M units; each unit will consist of one common share and half a warrant; each full warrant would entitle the holder to purchase one additional share at C75 cents for one year from closing, or at C$1 for an additional year (3/7)

Thallion
Pharmaceuticals
Inc. (Canada;
TSX:TLN)

Private placement of stock and warrants

180S and 90W

C$45 ($38.3)

Ecopia BioSciences Inc. and Caprion Pharmaceuticals Inc. merged to become Thallion; units were sold at C$0.25 each; the three-year warrants are exercisable at C$0.375 per share (3/13)

TiGenix
(Belgium;
Euronext:TIG)

Rights issue

N/A

€46 ($61.3)

TiGenix raised €40M, plus $6M addition through the exercise of an overallotment option by joint lead managers, Piper Jaffray and ING (3/28)**

Titan
Pharmaceuticals
Inc. (AMEX:TTP)

Equity financing commitment

N/A

N/A

Azimuth Opportunity Ltd. committed to purchase up to $25M of Titan stock over two years, at a discount of 4% to 7%; Titan will determine the timing and amounts of any draw-downs (3/16)

Upstream
Biosciences
Inc. (OTC BB:
UPBS)

Equity financing

1.3U

$2

Upstream secured $2M placing 666,667 units in two closings; each unit consists of one common share, one share purchase warrant priced at $1.75 and one share purchase warrant priced at $1.85; the unit price is $1.50 each (3/5)

ViroPharma Inc.
(VPHM)

Private placement of convertible senior notes

N/A

$250

Company sold $250M in convertible senior notes due March 2017; Goldman, Sachs & Co. is lead manager, while Credit Suisse and Piper Jaffray & Co. are co-managers; underwriters exercised an overallotment option of $25M in notes (3/20)