Other Financings Of Public Biotechnology Companies: May 2003
Total: $626.134M | ||||
Company (Symbol)# | Type Of Financing | Number Of Shares, Units Or Warrants (M) | Amount Raised (M) | Investors; Placement Agents; Details (Date)@ |
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Acacia Research | Private placement of units | 2.4U | $5.28 | Acacia raised $5.28M in a private placement of 2.4M units (5/21) |
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Advanced Viral Research | Private placement of convertible debentures, common stock | 10.3S and W for 6.2S | $1.83 | Advanced Viral raised $1M through the placement of convertible debentures, due April 28, 2008, with Cornell Capital Partners; it also raised $826,000 with the placement of 10.325M shares and warrants to purchase 6.195M shares (5/16) |
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Ariad Pharmaceuticals | Private placement of common stock | 4S | $10 | Ariad raised $10M with the placement of 4M shares with The Riverview Group LLC and Merlin Biomed Group (5/19) |
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AVI BioPharma | Private placement of common stock | 3S | $15 | AVI BioPharma raised $15M in the private placement with several unnamed institutional investors; Rodman & Renshaw Inc. acted as the placement agent in the transaction (5/5) |
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Biokeys | Private placement of common stock and warrants | 5S and W for 1.5S | $2 | Biokeys raised $2M in a private placement of 5M shares and warrants to purchase an aggregate of just more than 1.5M shares (5/28) |
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Biomira Inc. (Canada; BIOM; TSE:BRA) | Private placement of common stock and warrants | 3.25S and 0.548W | $3.7 | Biomira raised US$3.7M in the placement of 3.25M shares and up to 548,148 warrants (5/9) |
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Bioniche Life | Private placement of debentures | N/A | C$13.5 (US$9.8) | Bioniche raised US$9.8M with the placement of royalty-enhanced debentures to the Business Development Bank of Canada and two other Canadian financial institutions; Harris Partners Ltd. was the lead agent, and Octagon Capital Corp. co-led the financing (5/27) |
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Biopure Corp. | Private placement of common stock | N/A | $7.3 | Biopure raised $7.3M with the private placement of common stock to several investors; BNY Capital Markets Inc. was the placement agent (5/6) |
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Celgene Corp. | Private placement of convertible notes | N/A | $400 | Celgene privately placed $325M in convertible notes; the unnamed purchaser also exercised an option to purchase an additional $75M in notes (5/30) |
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CV Technologies Inc. (Canada; CVTX) | Private placement of units | 25.5U | C$2.55 (US$1.85) | CV Technologies raised US$1.85M with a private placement of up to 25.5M units, each consisting of one common share and one common share purchase warrant; Brubuck Inc. purchased 20M units (5/14) |
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CytrRx Corp. | Private placement of common stock | 2.9S | $5.44 | CytRx raised $5.44M with the placement of 2.9M common shares (5/30) |
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EntreMed Inc. | Private placement of common stock | 3S | $9 | EntreMed raised $9M after selling 3M common shares to a group of undisclosed institutional investors (5/20) |
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Genaera Corp. | Private placement of convertible preferred stock | 0.005S | $5 | Genaera raised $5M in a sale of 5,000 shares of convertible preferred stock to Biotechnology Value Fund LP and associated entities and to Ziff Asset Management LP (5/28) |
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Genelabs | Private placement of common stock and warrants | 8.1S and W for 2.43S | $8.1 | Genelabs raised $8.1M in the placement with institutional and accredited investors; SG Cowen Securities Corp. acted as the transaction's placement agent (5/5) |
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Generex | Private placement of common stock | 2.8S | $3.2 | Generex issued about 2.8M shares to accredited institutional investors, raising $3.2M (5/29) |
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Guilford | Term loan | N/A | -- | Guilford entered an $18.8M term loan with Wachovia Bank (5/7) |
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Helix BioMedix | Private placement of stock and warrants | 2.3S | $2.3 | Helix raised $2.3M, adding to the $1.5M already raised in January (5/7) |
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Hemispherx | Private placement of senior convertible debentures and warrants | 0.74W | $5.5 | Hemispherx raised $5.5M in the private placement that was conducted in March, but not previously reported in Financial Watch; Cardinal Securities LLC acted as placement agent; investors were Ramius Capital Group and Angelo, Gordon and Co. (3/12) |
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Immunomedics | Bond financing | N/A | $6.4 | Immunomedics completed a $6.4M bond financing with the New Jersey Economic Development Authority; the proceeds are to be repaid over a five-year period (5/28) |
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IntraBiotics Pharmaceuticals | Private placement of convertible preferred stock and warrants | 1.8S | $3.5 | IntraBiotics raised $3.5M, issuing preferred stock that will convert to about 1.8M common shares; also it issued warrants to purchase about 920,000 common shares (5/2) |
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Isolagen Inc. (AMEX:ILE) | Private placement of convertible preferred stock | 0.16S | $4.4 | Isolagen raised $4.4M with a private offering of 155,750 shares of Series B convertible preferred stock at $28 apiece; Fordham Financial Management Inc. managed the offering (5/30) |
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PharmaNetics Inc. (PHAR) | Private placement of convertible preferred stock | N/A | $9.6 | PharmaNetics raised $9.6M in a private placement of preferred stock convertible into common stock at $6 per share, and warrants to purchase an additional 510,932 common shares for $7.12; the financing was led by Camden Partners (5/1) |
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Repligen Corp. (RGEN) | Private placement of common stock | 2.5S | $12.5 | Repligen raised $12.5M through a private placement of 2.5M shares at $5 each to The Riverview Group; Rodman & Renshaw Inc. served as placement agent (5/2) |
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Resverlogix Corp. (Canada; CDNX:RVX) | Private placement of common stock | N/A | C$3 | Resverlogix raised US$2.15M in a private financing through a reverse-takeover share exchange with Apsley Management Group Inc. (5/8) |
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Seattle Genetics | Private placement of convertible preferred stock and warrants | 1.6S and W for 2S | $40 | Seattle Genetics raised $40M selling 1.6M shares of stock convertible into 16M common shares, and warrants to buy 2M shares of stock; the placement was led by JP Morgan Partners LLC and Baker Brothers Investments; other investors were Delphi Ventures and BA Venture Partners (5/13) |
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Spectrum Pharmaceuticals | Private placement of convertible preferred stock | N/A | $4.4 | Spectrum raised $4.4M through the sale of the stock to institutional investors, including SCO Capital Partners, SDS Merchant Fund, Xmark Funds and ProMed Partners LP (5/8) |
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StemCells Inc. (STEM) | Private placement of common stock | 4S | $6.5 | StemCells raised $6.5M through the sale of 4M common shares to The Riverview Group LLC (5/13) |
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Transition Therapeutics Inc. (Canada; CDNX:TTH) | Private placement of common stock | 6.2S | C$0.664 (US$0.484) | Transition raised US$483,740 in a financing (5/26) |
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VaxGen Inc. | Private placement of common stock | 1.74S | $5 | VaxGen raised $5M after selling 1.74M shares to an unnamed institutional investor (5/20) |
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V.I. Technologies | Private placement of common stock | 19.8S | $18.4 | V.I. Technologies raised $18.4M in a shareholder rights offering; the financing included participation by several existing venture and institutional investors, along with directors and officers of the company (5/27) |
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Vivus Inc. | Private placement of common stock | 4.4S | $17.5 | Vivus raised $17.5M following a private placement of 4.4M shares; investors were Zesiger Capital Group LLC, SAC Capital Associates LLC, Royal Bank of Canada, Baystar Capital II LP and Special Situations Funds; C.E. Unterberg, Towbin acted as the exclusive placement agent (5/28) |
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Notes: | ||||
This chart does not include real estate or manufacturing plant financings. | ||||
# Unless otherwise indicated, shares are traded on the Nasdaq exchange. | ||||
@ Dates refer to the date of the press release. | ||||
N/A = Not available, applicable or reported. | ||||
AMEX = American Stock Exchange; CDNX = Canadian Venture Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange. | ||||