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biotechnology state of the industry report 2 • 0 • 0 • 6
BIOWORLD
®
BIOTECHNOLOGY
STATE OF THE
INDUSTRY
R E P O R T
2 • 0 • 0 • 6
THE BIOWORLD® STATE OF THE INDUSTRY REPORT 2006 is published by Thomson BioWorld®, 3525 Piedmont Road, Building
Six, Suite 400, Atlanta, GA 30305 USA. Opinions expressed are not necessarily those of this publication. Mention of products or services does not constitute endorsement. Thomson BioWorld® is a division of Thomson Healthcare. Copyright ©
2006 Thomson BioWorld®. All Rights Reserved. No part of this publication may be reproduced without the written consent
of Thomson BioWorld®. (GST Registration Number R128870672)
Managing Editor: Brady Huggett. Senior Production Editor: Kay Torrance.
Database Editor: Jim Shrine.
Staff Writers: Karen Pihl-Carey, Jennifer Boggs.
Science Editor: Anette Breindl.
National Editor: Randall Osborne.
Washington Editor: Aaron Lorenzo.
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Table Of Contents
I. Analysis
Biotech Continues Growth In Quieter, Calmer Environment ................................................................................9
The Year In Review....................................................................................................................................................................1 1
The View From Wall Street ..................................................................................................................................................17
The View From Washington................................................................................................................................................22
The View From The Lab Bench..........................................................................................................................................25
II. Financial Data
Discerning Market, Caution Drove Trends In Financing ......................................................................................33
Money Raised By Biotechnology Companies ............................................................................................................36
Initial Public Offerings ..........................................................................................................................................................37
Follow-On Offerings ............................................................................................................................................................42
After-Market Performance (Initial Public Offerings)................................................................................................49
After-Market Performance (Follow-On Offerings) ....................................................................................................50
Initial Public Offerings: 2002-2005 (Gross Proceeds By Month) ......................................................................53
Follow-On Offerings: 2002-2005 (Gross Proceeds By Month)............................................................................54
Gross Proceeds Of Biotech Public Stock Offerings: By Quarter 1995-2005..................................................55
Miscellaneous Financings Of Public Biotech Companies......................................................................................56
Venture Capital And Other Financings Of Private Biotechnology Firms ........................................................91
Milestones And Equity Investments From Corporate Partners ........................................................................121
Grants And Awards To Biotech Companies ..............................................................................................................134
III. Corporate Deals
Major Playor Novartis Pays Big For Products, Platforms......................................................................................165
Biotechnology Mergers And Acquisitions..................................................................................................................169
Biotech-Big Pharma Collaborations: New Agreements ........................................................................................190
Biotech-Big Pharma Collaborations: Modified And Terminated Agreements ..........................................242
Manufacturing, Marketing And Distribution Agreements With Pharma Companies ............................250
Biotech-Biotech Deals: Collaborations, Agreements And Equity Participation ........................................260
Biotech-Biotech Collaborations: Modified And Terminated Agreements ..................................................300
Manufacturing, Marketing And Distribution Agreements Between Biotechnology Companies......302
Biotech Miscellaneous Collaborations........................................................................................................................309
Biotech-University/Nonprofit Institutions Collaborations ................................................................................312
Biotech-Agribusiness Collaborations..........................................................................................................................350
IV. Biotech Product Development
Who’s To Blame For Fewer Approvals: FDA Or Biotech? ......................................................................................359
Biotechnology Products Approved By FDA In 2005 ............................................................................................363
Biotechnology Products On The Market ....................................................................................................................367
FDA Actions On Pending Applications In 2005 ......................................................................................................384
Licensing Applications Filed And Pending At FDA In 2005 ..............................................................................387
Products Not Recommended For Approval By FDA Advisory Panels In 2005 ..........................................393
Overseas Approvals And Actions In 2005................................................................................................................394
V. Report Card For Wall Street
Methodology Used To Evaluate Underwriters’ Performance............................................................................405
Top 10 Underwriters: Full Credit To Lead Underwriters; Ranked By Gross Proceeds ............................406
Other Underwriters: Full Credit To Lead Underwriters; Ranked By Gross Proceeds..............................407
Top 10 Underwriters: Full Credit To All Underwriters; Ranked By Gross Proceeds ................................408
Other Underwriters: Full Credit To All Underwriters; Ranked By Gross Proceeds ..................................409
Top 9 Underwriters: IPOs (Full Credit To Lead Underwriters, Ranked By Gross Proceeds) ..................41 1
Other Underwriters: IPOs (Full Credit To Lead Underwriters, Ranked By Gross Proceeds ..................412
Top 10 Underwriters: IPOs (Full Credit To All Underwriters; Ranked By Gross Proceeds) ....................413
Other Underwriters: IPOs (Full Credit To All Underwriters; Ranked By Gross Proceeds)......................414
Top 9 Underwriters: IPO (Full Credit To Lead Underwriters; Ranked By After-Market Performance)......415
Other Underwriters: IPO (Full Credit To Lead Underwriters; Ranked By After-Market Performance)......416
Top 10 Underwriters: IPO (Full Credit To All Underwriters; Ranked By After-Market Performance) ......417
Other Underwriters: IPO (Full Credit To All Underwriters; Ranked By After-Market Performance)........418
VI. Stock Performance
2005 Stock Report: An Alphabetical Listing Of Public Biotech Companies................................................421
2005 British Stock Report ................................................................................................................................................427
2005 Canadian Stock Report ..........................................................................................................................................428
2005 Price Performance: Biotechnology Stocks Ranked By Percent Change For Year..........................429
Tracking The Overall Performance Of The 279 Stocks In BioWorld’s Universe ......................................433
BioWorld Stock Indicator Vs. Nasdaq Biotech Index ............................................................................................435
BIOWORLD
®
A N A LY S I S
Biotech Continues Growth In
Quieter, Calmer Environment
By Brady Huggett
Managing Editor
In many ways, 2005 looked a lot like 2004.
Total money raised last year nearly equaled the year prior, when the
industry raised $20.8 billion. There were 33 initial public offerings around
the world in 2005, just slightly off from the 37 that completed in 2004. The
markets were steady both years – BioWorld’s stock tracker showed the average biotech firm’s shares in 2005 lost just 2 percent, compared to the 2.5
percent gained in 2004.
Those signs point to a leveling off for the sector, suggesting that gone
are the days of an opening and then abruptly slamming IPO window, gone
are collective plummeting and zooming of stock prices, based on a single
firm’s news. Time and performance are wiping away both the skepticism
and the foolish hype around biotech. The waters are calm.
While that might not be as exciting as Nasdaq rocketing or wallowing,
the schools of biotech firms moving beneath 2005’s smoother surface
remained as interesting as ever.
Biogen Idec Inc. was dealt a staggering blow in 2005, when its multiple sclerosis drug, Tysabri, was removed from the market due to links to
progressive multifocal leukoencephalopathy. Once considered a potential
blockbuster, the drug, when excised from Biogen Idec’s model, cost the
company stock points, and it ended the year at $45.28, down 31.7 percent.
Although in the first quarter of 2006 Tysabri seemed poised for a comeback, following an FDA panel’s positive recommendation in March to allow
it back on the market, the deaths linked to the drug, coupled with 2004’s
Vioxx turmoil, courtesy of Merck & Co. Inc., weighed on biotech investors
early in 2005. BioWorld’s stock tracker hit its lowest point of the year in
April, but 2005 progressed and stocks recovered, leaving April looking like
nothing more serious than a market fluctuation – the industry has weathered those before.
What bears mentioning about those 33 IPOs in 2005 – 16 in the U.S. – is
the average take: $45.5 million. That’s about $10 million less than in 2004,
and a long way from the 2000 average of $81 million. Far from supplying
the exit some investors wanted, low IPO valuations helped drive a busy
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
9
2005 for mergers and acquisitions, highlighted by Novartis AG’s $5.1 billion bid for the shares it didn’t already own of Chiron Corp., and Amgen
Inc.’s $2.2 billion offer for Abgenix Inc.
Partnering was hot last year, too. Staring hard at their depleted
pipelines, pharma firms were willing to buy less-mature products. Novartis
again led the way, forming a Phase I deal with Anadys Pharmaceuticals
Inc. worth up to $580 million including milestones, for Toll-like receptor
drugs.
Drug approvals, however, were down in 2005. The FDA approved 19
new drugs from biotech companies, four biotech-derived drugs from big
pharma and 10 supplemental indications for already-approved drugs. Some
suggest the agency is more cautious in the wake of Vioxx and Tysabri, but
others blamed a fizzling of innovation in the labs of biotech firms. Either
way, it didn't help matters when interim FDA head Lester Crawford in
September suddenly stepped down, replaced by Andrew von Eschenbach.
For all of biotech’s progress against disease, nature continues to provide new bugs to fight. In 2005, it was avian flu that had the world worrying. U.S. President George W. Bush asked for $7.1 billion to fight against a
human pandemic, about half of which received clearance, and biotech firms
are focused on developing vaccines. Regarding science, most notable last
year was the disgracing of South Korean researcher Woo-Suk Hwang,
unmasked as a fraud after an inquiry into his previously breathtaking work
on human embryo cloning proved it was faked. As he fades into the wrong
side of history, the scandal has legitimate researchers wondering if the bad
taste he left behind will harm the future of stem cell research.
The future of biotechnology? It seems secure. Nearly a third of all venture capital investment in 2005 went into the life sciences, and biotechnology appears to be taking its place as a member in good standing of the global economy. ■
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BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
The Year In Review
Public Scandals, But Big Money
Put Up For Earlier-Stage Deals
By Randall Osborne
West Coast Editor
Tysabri’s spectacular flameout, ongoing buzz about COX-2 inhibitors
and a late-year scandal over faked stem-cell research failed to take the shine
off a stellar 2005 in terms of money for biotechnology, which raised about
$20 billion through financings and an estimated $14 billion more by way of
partnering – a record number for the industry, if those numbers are added
together.
Biogen Idec Inc. and partner Elan Corp. plc pulled their much-celebrated Tysabri (natalizumab) off the market in the spring because of concerns over cases of progressive multifocal leukoencephalopathy just after
an FDA panel voted to allow Merck & Co. Inc.’s painkiller Vioxx (rofecoxib)
back on the shelf. Merck had yanked Vioxx voluntarily six months earlier
because of cardiovascular side effects. A Texas jury in the summer had
found Merck initially liable for $253 million, in the first of many lawsuits,
and doubts lingered about COX-2 inhibitors as a class. Celebrex (celecoxib)
and Bextra (valdecoxib), both from Pfizer Inc., were allowed to stay on the
market, with “black box” warnings on their labels, similar to the one added
to Vioxx.
As 2006 began, Tysabri was making an against-the-odds comeback. Still
fresh in many minds, though, was a survey by Lake, Snell, Perry and
Associates Inc., disclosed in the first quarter of 2005, which found public
opinion of the FDA sliding. The poll asked 1,000 people, with an error margin
of plus or minus 2.5 percent, and found only 14 percent had a great deal of
confidence in the FDA, while two-thirds favored an independent body to
conduct a full review of the agency’s practices and procedures, with 70 percent in favor of strengthening the FDA’s collection and reporting process on
drugs and devices that have been found to cause harm after approval.
At the other end of the 2005, in December, came word that Woo Suk
Hwang of Seoul National University had fabricated his much-hailed research
(published in Science) on stem cells and cloning, which led to him lose the
prestigious World Technology Award and also led to increasing public skepticism of the industry. After stripping Hwang of the prize, judges gave it to
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
11
Nadrian Seeman, of New York University, for his efforts in DNA-based nanotechnology.
But regarding cash, the picture was bright, even if initial public offerings
and secondary financings stayed flat, noted Steven Burrill, CEO of Burrill &
Co., which operates in venture capital and merchant banking. The industry
started 2005 on a “slow note,” he said, but picked up after April.
BioWorld Snapshots lists 33 IPOs in 2005, with 16 in the U.S. markets,
and most pricing well below hoped-for levels. In 2004, 37 IPOs were completed, with 28 in the U.S. Not only did 2005’s IPOs price low, but aftermarket performance was grim – though among the winners was Threshold
Pharmaceuticals Inc. Early in the year, Threshold priced its IPO of about
5.3 million shares at $7 per share, raising about $37.3 million. The amount
was much lower than the $86.25 million upper range targeted, but in early
2006, Threshold was trading at the handsome price of nearly $15.
More typical of the IPO trend, though, was CardioVascular
BioTherapeutics Inc., which in March raised $17.25 million by selling 1.7
million shares at $10 per each. Around the same time a year later, the stock
was trading over the counter at about $5.50.
The big financial gains were made, as usual, by the larger-cap firms,
such as powerhouse Genentech Inc., which finished 2005 not only with
news that it had submitted its biologics license application for Lucentis
(ranibizumab) to treat age-related macular degeneration but also with a
market cap of more than $97 billion, just above that of Amgen Inc., which
also beat the $97 billion mark. Amgen made headlines, too, at year’s end,
with its plan to buy the transgenic mouse firm Abgenix Inc. for $22.50 a
share, or about $2.2 billion in cash.
Among the hot therapeutic areas of 2005 was pulmonary arterial hypertension. Myogen Inc. finished the year with Phase III data showing its oral
endothelin, ambrisentan, boosted patients’ exercise capacity, while improving a key secondary endpoint of time to clinical worsening, along with hitting several other secondary efficacy endpoints.
Myogen geared up to compete with Pfizer Inc.’s Revatio – based on
sildenafil, the active ingredient in Viagra – which won U.S. clearance for PAH
in June, when speculators began weighing Revatio’s fate in the marketplace
with Actelion Ltd.’s Tracleer (bosentan), a dual endothelin receptor antagonist and the only other approved oral therapy for PAH. In the first part of
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BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2006, Myogen signed a potential $100 million ex-U.S. deal for its PAH therapy with GlaxoSmithKline plc.
Also in the mix are the strong-selling Ventavis (iloprost), an inhaled
prostacyclin from CoTherix Inc., which in-licensed the compound from
Schering AG in 2003. Ventavis gained approval at the end of 2004. More
invasive therapies include United Therapeutics Corp.’s prostacyclin
Remodulin (treprostinil), cleared in 2002 as a continuous subcutaneous
infusion and later allowed as an intravenous infusion. There’s GSK’s intravenous drug, Flolan (epoprostenol), for PAH, too – which Myogen agreed to
sell in the U.S., as part of the ambrisentan deal, in a provision that handily
funded Myogen’s PAH sales force ahead of ambrisentan’s launch.
Still pending as 2006 began was a new drug application, submitted in
May by Encysive Pharmaceuticals Inc., for its Thelin (sitaxsentan) for
PAH. Myogen’s news hit shares of Encysive hard, taking away 33 percent on
the day Myogen made public the Phase III results.
Another indication that came on strong in 2005 was hepatitis C. There
the headliner was Vertex Pharmaceuticals Inc., which in May offered positive interim Phase Ib data with VX-950, its oral protease inhibitor for hepatitis C, enough to bump the stock by about 20 percent to the $13-plus range.
But, by late January 2006, Vertex shares were trading at around $33.50, having appreciated a whopping 250 percent during 2005.
Gathering more steam during the year was the field of Toll-like receptors, as Wall Street continued to catch the wave that began swelling about
five years ago. Found on the surfaces of antigen-presenting cells, TLRs are
glycoprotein molecules that recognize microbial structures and, when
bound to them, trigger innate immune responses in the body.
TLR-focused Coley Pharmaceuticals Inc. in August raised $96 million
through an initial public offering and at the same time picked up another
$10 million by way of a private placement with Pfizer, which had signed a
TLR partnership with Coley in March, valued at up to $505 million. The deal
gave Pfizer worldwide rights to ProMune, a Phase II TLR9 agonist for nonsmall-cell lung cancer, malignant melanoma and cutaneous T-cell lymphoma.
Another firm with TLR interests, Anadys Pharmaceuticals Inc., drew
the attention of Novartis AG, and the firms entered a potential $570 million deal during the summer based on the Phase I compound ANA975 and
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
13
other TLR7 oral prodrugs for chronic hepatitis C and hepatitis B viruses.
Anadys got a $20 million initial license payment and another $10 million
after the FDA’s acceptance of an investigational drug application, with the
rest of the cash dependent on regulatory and commercial milestones.
Dynavax Corp. continued work with its TLR platform, too, and in early
2006 watched its stock jump 34 percent after the company reported two-year
data from a Phase II/III trial showing that its disease-modifying allergy drug,
Tolamba, significantly reduced symptoms compared to placebo. Tolamba
emerged from technology based on short synthetic DNA molecules designed
to stimulate a Th1 immune response through the interaction of TLR9.
Any story about 2005 would be incomplete without the mention again
of influenza. Unlike in 2004, when fears of a vaccine shortage occupied the
headlines, thanks to Chiron Corp.’s contamination screw-up at its
Liverpool facility, the hysteria in 2005 boiled around avian flu, and its
chance for jumping to humans.
The likes of Gilead Sciences Inc. and BioCryst Pharmaceuticals
Inc. also benefited from the year’s focus on the bird flu and vaccines that
might work against it. Gilead’s Tamiflu (oseltamivir phosphate) is approved
to treat uncomplicated influenza A and B in patients ages 1 and older, and
also as a prophylactic in people 13 years or older who are at high risk during
flu season. Marketed by F. Hoffmann-La Roche Ltd., Tamiflu is being
investigated for use in the event of an avian flu pandemic. In December, the
FDA gave approval for BioCryst to begin human studies with peramivir, its
intravenous influenza neuraminidase inhibitor, which showed in preclinical
studies activity against multiple strains of flu, including the H5N1 avian
virus. The news caused BioCryst’s stock to jump more than 15 percent.
Not all observers are convinced that the H5N1 strain will cause a pandemic, but most believe the virus will spread to some degree. Very few
expect a pandemic immediately, so researchers – and investors – are gambling with time. Still, fears were strong enough that, as 2006 began, a firm
such as the antisense company AVI BioPharma Inc. got a 28-percent-plus
stock rise out of positive preclinical findings against H5N1 and human flu
strains.
Trends for the year?
“I don’t know if 2005 will be remembered for this specifically, but something that is changing and is going to be more accepted, is that companies
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BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
that are doing true innovation are getting rewarded,” said Adam Noah, analyst in the San Francisco office of Merriman Curhan Ford & Co. “Maybe the
investor community doesn’t see that yet, which is why the IPOs and such
don’t look fantastic, but we’re seeing Phase I and preclinical deals with a lot
of zeroes in them. Big pharma truly needs new drugs. If you go to less sector-specific investors, their eyes roll [at Phase I deals], but you see less and
less of that, compared to a year or a year and a half ago.”
Noah’s favorite example is the agreement between Arena
Pharmaceuticals Inc. and Ortho-McNeil Pharmaceutical Inc., a unit of
Johnson & Johnson, focused on two preclinical small molecules for Type II
diabetes and other disorders. Each could bring the company $295 million in
downstream milestone payments, along with a $17.5 million up-front payment, and it is entitled to receive low-double-digit royalties that would rise
based on worldwide sales, if the products reach the market. In research
funding, Arena will receive $4.8 million over two years.
The bottom line for Arena, if two products are developed and approved,
is $612.3 million, not including royalties. Even if the take is much less, “it’s
still a preclinical compound that just went to Phase I a month ago,” Noah
said in March 2006. “Arena went out there and found a receptor in the right
place that has the appropriate characteristics for diabetes.”
Arena is “going after [G-protein coupled receptors], and something like
20 to 30 percent of all approved drugs use this method,” so they’re an intelligent risk, he said.
In some cases, Noah said, investors might trust the judgment of one of
the partners when deciding whether to put chips on a particular bet. He
cites Array BioPharma Inc.’s early stage oncology deal with Genentech,
expanded in October 2005 and begun more than a year earlier.
“There’s no way I can know for sure that Array can do kinase inhibition
– nobody knows that,” Noah pointed out, but Genentech’s choice of Array is
“almost like a biomarker for the finance market. Why would they pay someone else to make a kinase inhibitor, when they already have one of the five
approved?”
Genentech’s small-molecule tyrosine kinase inhibitor, Tarceva
(erlotinib), partnered with OSI Pharmaceuticals Inc., first gained marketing clearance against non-small-cell lung cancer, but the once-daily tablet
won approval in November for use in combination with gemcitabine as a
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
15
first-line treatment in patients with pancreatic cancer who have not received
prior chemotherapy.
“People are always saying, ‘This is the year of [mergers and acquisitions],’ ” Noah said. “There might be a slight uptick from year to year, but
I’ve always said there are not going to be that many M&As because as long
as you can outbid other pharma, why would you buy it? You make a backended deal instead.”
Reminded of Amgen’s buyout of Abgenix, Noah noted “Amgen was
already locked in with Abgenix,” by way of a 2002 partnership for panitumumab, a monoclonal antibody for colorectal cancer, which Amgen gained
in its takeover of Immunex Corp.
“I could see a lot of M&As at that level,” he allowed. But what’s more likely to continue are the creative companies, once seen as underdogs, making
deals and drawing the favor of investors, Noah said, with a nod toward
Amylin Pharmaceuticals Inc.
"It was almost a hobby to go against Amylin for many years, because
they were doing something new, and look where they are now," he said.
In August, Amylin’s stock jumped more than 27 percent on positive
early data from an ongoing Phase II study of its long-acting release formulation of Byetta (exenatide) in Type II diabetes patients, being developed with
help from Alkermes Inc. (A twice-daily injection of Byetta, partnered with
Eli Lilly and Co., was approved the spring of 2005 as an adjunct treatment
for patients who failed to achieve adequate blood sugar control using metformin or sulfonylurea, or a combination of the two.)
One week after the positive LAR Byetta news, Amylin, which has another
approved diabetes drug, Symlin (pramlintide acetate), cleared in March
2005 for Type I and II diabetes patients for whom insulin is not working,
raised $152 million in a stock sale. And Amylin, which boasts are hearty
pipeline, started out 2005 by raising $176 million in a public offering.
Noah said Amylin’s CEO Ginger Graham said during a recent speech,
“We probably got lucky, because nobody believed us,” thus allowing Amylin
to keep, and develop, its value before reaping the potential $435 million
deal in the fall of 2002.
Changing times will mean more such stories, he predicted.
“Don’t get down on yourself because you’re not believable, because you
could have the last laugh,” Noah said. ■
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BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
The View From Wall Street
Some Drug Trouble Aside,
Biotech Performs In 2005
By Karen Pihl-Carey
Staff Writer
When a starlet makes a movie that crashes at the box office, her onceloyal fans might leave the theater fretting the $8.25 just wasted and think
twice about seeing her next film.
But it won’t stop them from returning to the theater altogether.
In the biotech sector, the scenario is not much different. The multiple sclerosis drug Tysabri from Biogen Idec Inc. was a star of sorts in
early 2005, but its withdrawal in February due to serious adverse
effects helped cause a depressed public market rampant with investor
doubt.
By May, however, that doubt was gone and faith restored. Stocks began
to rise on positive earnings from big-cap biotech companies and strong
Phase III data from South San Francisco-based Genentech Inc. By mid-year,
theater-goers were buying tickets again.
“At the beginning of the year, the biotech market as a whole was suppressed, and I think one could look at the failure of Tysabri, when it was
pulled from the market, as kind of a barometer for the sector,” said
Andrew McDonald, an analyst with Think Equity Partners LLC in San
Francisco. “Since that catastrophe, we saw the market rebound very
strongly.”
In terms of stock performance, it was a very good year. Returns over the
last three years have steadily increased, he said, putting 2005 about 80 percent ahead of 2003.
But 2005 fell just short of the previous year in terms of total money
raised by biotech. BioWorld figures indicated the industry pulled in $20.1 billion in 2005 through public and private financings, a 3 percent drop from
the $20.8 billion raised in 2004.
It completed 33 initial public offerings and 59 follow-on offerings in
2005, compared to 37 and 43, respectively, for the year before. In the U.S.,
there were 16 biotech IPOs throughout the year, compared with 28 in
2004.
The Nasdaq Biotech Index moved from 768.52 to 790.31 over the course
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
17
of 2005, up just 3 percent. BioWorld’s non-weighted stock tracker showed
stocks fell about 2 percent during the year.
Joel Sendek, an analyst with New York-based Lazard Freres & Co. LLC,
doesn’t pay much heed to year-over-year fluctuations.
“The industry has matured to the point that there isn’t really necessarily
an opening or a shutting” of a public market window, he said. “There’s an
opportunity for a company with a good story to finance at any time, in my
opinion.”
The 33 international IPOs raised a total of $1.5 billion, while the followon offerings brought in about $4.1 billion. The bulk of the money raised in
2005, however, came from private rounds and placements, accounting for
$14.5 billion of the $20.1 billion figure.
The rebound following the Tysabri withdrawal by Cambridge, Mass.based Biogen and Dublin, Ireland-based Elan Corp. plc came through positive earnings and clinical data by heavy-hitters such as Genentech, Amgen
Inc. and Gilead Sciences Inc.
“In contrast to recent years,” Sendek said, “the biotech market was very
resilient, the large-cap in particular,” and that was driven by a “string of successes” at Genentech, Amgen and Gilead.
“The other big driver in the sector,” McDonald said, “has been the deals,
the record biobuck deals that have occurred as a result of big pharma’s
pipeline loss.”
In June, Anadys Pharmaceuticals Inc. entered what was hailed the
largest Phase I deal in biotech history – worth up to $570 million – with
Novartis Pharma AG to advance ANA975 and other Toll-like receptor 7 oral
products for chronic hepatitis C and hepatitis B viruses.
By the end of the year, AtheroGenics Inc. entered the largest collaborative biotech deal of the year – worth $1 billion, including a $50 million up
front payment – with AstraZeneca plc to develop and commercialize its
atherosclerosis drug, AGI-1067, a product that is in “an incredibly speculative
Phase III,” McDonald said.
But big pharma seems willing to pay high figures for biotech innovation
these days. And if they don’t get what they want from partnerships, acquisitions are another option. Not only were pharmaceutical companies buying
to fill their pipelines, but mid- to large-cap biotech companies used acquisitions in 2005 as a way to re-invest their cash.
18
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
In December, Amgen offered to buy Abgenix Corp. for $2.2 billion.
Other acquisition of note in 2005 included Pfizer’s $1.9 billion buyout of
Vicuron Pharmaceuticals Inc., completed in September.
One major acquisition of 2005 involved Eyetech Pharmaceuticals
Inc., which two years ago was Wall Street’s darling based on high expectations for its age-related macular degeneration product Macugen.
“It’s a great story in which it was a first-in-class, first-to-market product,”
McDonald said. “Unfortunately, they are competing against Genentech, and
that is the one person in biotech you probably don’t want to be competing
against.”
Data from Genentech’s age-related macular degeneration product
Lucentis “blew Macugen data right out of the water and Eyetech shares
came crashing down” this year, McDonald said. It resulted in OSI
Pharmaceuticals Inc.’s purchase of Eyetech for $935 million, or
about $20 a share – a premium to where Eyetech was trading at the
time.
“The market voted with its feet and said that it was not a wise deal,”
Sendek said, “and that’s why OSI’s stock underperformed in 2005. But a lot
of these deals aren't done for short-term reasons,” and there may be a “logical” answer as to why OSI did what it did.
But the story for Eyetech seems over. Before it faced competition from
Lucentis, the company had been focusing on expanding Macugen for different indications, but it had no other products in the pipeline – a risky scenario that, no doubt, contributed to its sale, an outcome that IPO investors
probably didn’t anticipate.
“You might have a high flyer one year, but it could be at the bottom of
the heap the next,” McDonald said. “Investors in the community really need
to pay attention to what the data are saying vs. all the hype.”
Tysabri was a product well-hyped by its makers, but its FDA approval
based on one-year data was short-lived. The drug was pulled in February
following serious cases of progressive multifocal leukoencephalopathy, an
event that stunned the market but should have no long-term impact on the
industry, Sendek said.
“Out-of-left-field risk has always existed in biotech and will always
exist,” he said. “There will always be manufacturing shut downs or unforeseen toxicity that crops up in the field that didn’t in clinical trials. That’s the
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
19
nature of the business. And I think it’s a warning that nothing’s a sure
thing.”
Nevertheless, analysts believe that 2006 may be the year for
biotech’s small-cap companies – those with a market cap of $500 million
or below.
“What I’m hearing from a lot of these fund managers is they’re hiring
analysts to specifically find those small-cap names where they can deploy
capital,” McDonald said.
In many cases, valuations of the mid- to large-cap companies are “excessive,” he added, so investors are looking for bargains instead.
“These are companies that have been forgotten about,” McDonald said,
“have not done a good job marketing themselves but have incredibly valuable assets in development.”
A good example of that, he said, is Advanced Magnetics Inc., a company
with a $190 million market cap that has an intravenous iron replacement
agent, ferumoxytol, in Phase III trials for chronic kidney disease, with positive results expected by the end of 2006.
The valuation gulf between small-cap and large-cap companies, Sendek
said, has “never been greater than it is now.”
He believes there is a great potential in 2006 for “small-cap biotech to
dramatically outperform.” A pick-up in mergers and acquisitions activity,
pharmaceutical companies hungry for pipelines and the fact that smallercap companies are closer to commercial success than in previous years all
may conspire to “create a strong enthusiasm on the part of institutional
investors,” Sendek said.
Many of the expected milestones for 2006, such as a Lucentis approval
and a label expansion for Avastin, have already been priced into
Genentech’s stock, leaving more opportunity for investors with the smallercap companies.
Other upcoming events could include the return of Tysabri to the market and the filing of a new drug application for Gilead’s triple-drug HIV regimen using Truvada and efavirenz (Sustiva, Bristol-Myers Squibb Co.).
And analysts also will be watching the sales of Vancocin HCl closely, considering its maker Viropharma Inc. had the best performing stock in the market this year, Sendek said. The stock compounded six times throughout
2005, rising from $3.10 at the beginning of the year to $18.50 at the end.
20
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Vancocin is approved to treat antibiotic-associated pseudomembranous
colitis caused by Clostridium difficile, and enterocolitis caused by
Staphylococcus aureus.
But eyes also will be on a major product that could change the way diabetes is treated forever, McDonald said. Exubera, an inhaled insulin developed by Pfizer and Nektar Therapeutics Inc. for which a decision from
the FDA is expected at any time.
“That’s sort of paradigm-changing going from injectable to inhaled
insulin,” McDonald said. “That’s going to be a big event this year.”
(Editor’s Note: Exubera received FDA approval on Jan. 27, 2006.) ■
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
21
The View From Washington
Drug Regulatory Pathway
Seen As Tougher In 2005
By Aaron Lorenzo
Washington Editor
WASHINGTON – To many observers, 2005 brought a regulatory tightening of the belt, of sorts, with more public attention paid to product safety
than in the past.
Also over the course of the year, stem cell research received a congressional boost, the muddy biogeneric picture became a little clearer, and drug
makers scored with liability protection for flu vaccine R&D.
The heightened safety consciousness, of course, represents a reaction
to the now infamous painkiller Vioxx, and the FDA increased its number of
black box warnings for products correspondingly. The agency also began to
talk about a safety data sharing arrangement with the Centers for Medicare
and Medicaid Services. At the same time, drug companies vowed to disclose
more clinical trial information than previously, in an attempt at transparency.
But from Capitol Hill and consumer watchdog groups came calls for a
new safety oversight department, and while that clamoring has not yet died,
the FDA preemptively created its own Drug Safety Oversight Board to independently oversee such issues. That was lauded by the Biotechnology
Industry Organization, the Washington-based trade association that lobbied
against “draconian measures” from Congress in reaction to drug safety concerns, said its president and CEO, Jim Greenwood.
The fact that the FDA’s “solution” is housed within the agency’s Center
for Drug Evaluation and Research (CDER) did little to silence critics. Some
saw the agency’s reputation further blemished in regard to the market withdrawal of Tysabri early in 2005. Heralded just months before as the next
great multiple sclerosis treatment, and approved early on one-year pivotal
trial data, it soon became linked with a rare but fatal disease that prompte
its removal.
The FDA’s increased safety efforts might partly explain the downturn in
approvals seen last year and the growth of a risk-averse climate at the
agency. Those matters could be setting the table as “a prelude” to this year
when negotiations to renew the Prescription Drug User Fee Act (PDUFA) get
under way in earnest, said Michael Werner, who heads The Werner Group
22
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
consulting firm in Washington.
“Within the rubric of PDUFA negotiations, there will be discussions
about why approvals are down,” he said, with drug safety issues playing a
prominent background role. He called the negotiation phase, which began
with a public hearing last fall, “an obvious vehicle for Congress to get
involved” and an opportunity for agency and industry representatives to sit
at the same table. “There will be a lot of discussion and negotiation this year
about what PDUFA will be and what it will look like,” added Greenwood, the
former congressman who in his first year leading BIO brought on board several Washington insiders with previous Capitol Hill and FDA experience to
fill advocacy roles.
Concerns over leadership at the FDA came to a head when Lester
Crawford abruptly resigned in September as commissioner, just months
after receiving Senate confirmation for the post. Crawford had been acting
commissioner for almost two years.
Into his place stepped Andrew von Eschenbach, who had been in charge
of the National Cancer Institute. Initially he announced his intention to maintain both positions, although he relinquished that stance and temporarily
gave up his NCI role to solely head the FDA on an interim basis. Many
observers expect him to be friendly to drug makers, given his oncology
background, and while Greenwood conceded that the agency’s leadership
“is not settled” in the absence of a confirmed commissioner, he praised von
Eschenbach as “an advocate for patients” and “an ally of patient groups.”
Now that von Eschenbach is settling in, Werner said he senses stability
at the agency, which will help in the FDA’s dealings with Congress. (Editor’s
Note: In March 2006, President Bush officially nominated von Eschenbach to
head the FDA.)
Observers continue to wait on official FDA guidance for regulating follow-on biologics, the so-called biogenerics many pioneer companies oppose
because of manufacturing equivalency issues, but the agency has yet to
finalize its approach. It’s been suggested that the matter be handled on a
case-by-case basis, an approach that’s beginning to take shape in the
European Union, where regulatory authorities gave a favorable opinion to
the growth hormone product Omnitrope shortly after the New Year.
“I think this will be a field that moves slowly,” Werner said, noting that
the FDA is expected to let European regulators take the lead. He added that
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
23
while “pressure is going to continue to build” on the FDA, the agency signaled that clinical studies would be necessary in many circumstances, especially with proteins more complex than growth hormone. Because generic
companies could have to pay for clinical trial work and marketing, biogenerics might not provide much in the way of cost savings for consumers in the
end.
Stem cell advocacy increased in Congress, and at the end of the year,
President Bush signed a bill to fund further research into obtaining cells
from umbilical cord blood, an uncontroversial source. Legislation to
increase federal funding for embryonic stem cells is not likely to get the
president’s blessing, but after the Castle-Degette bill passed in the House to
allow that funding, it got a significant endorsement from Senate Majority
Leader Bill Frist (R-Tenn.).
His swing away from President Bush’s policy on the matter signaled a
shift, and Greenwood praised Frist and his Senate colleague Orrin Hatch (RUtah) for their efforts in drumming up support and going against the administration. While Bush has said he’d use his veto powers on stem cell issues,
Greenwood nonetheless stressed that “it’s important to push the issue anyway.”
The industry also scored on Capitol Hill with new legislation to fund
bird flu prevention efforts. After President Bush called for a $7.1 billion package in the pandemic fight, a sizable portion of which could go toward drug
makers developing countermeasures, the measure cleared both houses of
Congress just before their session ended. In the context of the same bill
came a wide-reaching liability shield to protect those drug makers from
claims of negligence.
Greenwood, who called the pandemic flu bill’s passage critical to “building the infrastructure” for vaccine production using improvements on old
egg-based methods and new cell-based technologies, added that it was an
equally “good sign” that Congress moved on the liability protection. “You
can’t expect companies to respond in crisis mode to a potential emerency,”
Greenwood said, and push them to drop all other activities if they expect to
be subjected to “horrific levels of liability.” ■
24
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
The View From The Lab Bench
Huge Stem Cell Scandal; HighThroughput Epigenetics Work
By Anette Breindl
Science Editor
South Korean researcher Woo-Suk Hwang made Science magazine’s Top
10 Breakthroughs of the Year list in 2004 for the first cloning of a human
embryo. His 2005 report on the first cloning of a dog, “Snuppy,” earned the
designation of “Invention of the Year” from Time magazine. But things
turned. If there were an award for starkest reversal of fortune, Hwang would
get that, too.
Neither the human nor the dog cloning paper had been retracted by the
end of 2005. But questions about both inevitably arose as another paper, in
which Hwang’s group claimed to have made patient-specific embryonic
stem cell lines with a high enough efficiency to be useful for clinical applications, went from breakthrough to burlesque, with revelations about ethics
violations in procuring the eggs, followed by accusations that the whole
omelet was rotten. The data had been faked.
(Editor’s Note: In January 2006, an investigation panel set up by Seoul
National University confirmed that Hwang and his team had created data to
support their 2005 claim to have made patient-specific stem cell lines, as
well as their 2004 report of having cloned the first human embryo. Testing
of Snuppy, however, confirmed that the dog was indeed a clone.)
But as Michael West, chief scientific officer, chairman and president at
Advanced Cell Technology Inc., of Worcester, Mass., told BioWorld Today
while discussing the Hwang case, “for every forger, there are 99 dedicated
and honest people out there.”
What follows are some, though not all, of the top discoveries of 2005 –
hopefully, no retractions will be necessary.
Cancer
With more than half of all genetic alterations in some cancers stemming
from epigenetic mechanisms, such as methylation and acetylation, epigenetic research was an active area in 2005, and the year ended with a call for
a “Human Epigenome Project” in the Dec. 15, 2005, issue of Cancer
Research.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
25
One reason epigenetic research is gaining speed is that methodologies
for epigenetic studies are becoming high-throughput enough to make
whole-genome studies a realistic option. One example is a study published
in Cell in January 2005, which used whole-genome tiling arrays for analyzing certain methyl, as well as acetyl, marks in both human cancer cell lines
and human fibroblasts. The researchers studied methylation of one specific
lysine, lysine 4, across a large region of the genome; many of the proteins
that have a methylated lysine 4 are associated with cancer in some way.
Lead author Bradley Bernstein told BioWorld Today that “the tiling arrays
allow the analysis to proceed in a very unbiased fashion,” added that “this
technique opens up another avenue for identifying functionally important
regions of the genome.” Scientists also learned how to methylate DNA in the
lab, as reported in the Nov. 27, 2005, early online edition of Nature Chemical
Biology.
The genetics of cancer yielded new surprises in 2005. Several studies
investigated the mechanisms and functions of the tumor suppressor gene
p53. In July, a paper in the Proceedings of the National Academy of Sciences,
which could be summed up “never trust a test tube,” reported that in vivo, it
is not p53 protein itself that is crucial for determining whether a cell will be
normal or cancerous, but the ration of two of its regulator proteins, MDM2
and MDMX. Also in July, a study published in Neuron reported that overactive p53 might play a role in neurodegenerative disorders.
Evolution
Science magazine’s breakthrough of the year 2005 is not likely to be
debunked within a year’s time. The magazine picked “Evolution in Action” as
last year’s winner. The magazine said in its explanation that “at some level
every discovery in biology and medicine rests on [evolution].” Each year, it
said, “researchers worldwide discover enough extraordinary findings tied to
evolutionary thinking to fill a book many times as thick as all of Darwin’s
works put together.”
The editorial staff at Science said that “2005 stands out as a banner year
for uncovering the intricacies of how evolution actually proceeds.” One such
finding, published in the Dec. 4, 2005, early online edition of Nature, presented evidence that at least in polio viruses, selection can occur at the population level, rather than being directed at individual variants. Senior author
26
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Raul Andino said that his paper demonstrated the need for population
diversity of RNA viruses for successful infection to occur and that the reason diversity is necessary is that different types of mutants need to cooperate for successful infection, not so that the “best” mutant can propagate in
winner-take-all fashion. Raul said that though it is easiest to see population
level selection in RNA viruses, with their high mutation rate and short generation time, the mechanism also operates on higher organisms.
Genomics
On Oct. 26, 2005, an international consortium consisting of researchers
from academic centers, non-profit biomedical research groups and private
companies in the U.S., Canada, China, Japan, Nigeria and the UK completed a
haplotype map of the human genome for almost 3 million single nucleotide
polymorphisms, or SNPs, in six geographically distinct populations.
Francis Collins, director of the National Human Genome Research
Institute, said at a press conference that for disease association studies the
HapMap “may ultimately prove more powerful” than the map of the human
genome that was published in 2003. The human genome project published
a consensus sequence of DNA – that is, the bases everyone has in common.
But Collins noted “variety is the spice of life,” and it is in fact the bases that
differ in the population that hold the most promise for determining genetic
contributions to disease.
With the Human Genome and the HapMap completed, the next largescale sequencing project, announced on Dec. 13, 2005, is The Cancer
Genome Atlas, a joint project of the National Cancer Institute and the
National Human Genome Research Institute. In a three-year pilot phase,
researchers intend to “assess the feasibility of a full-scale effort to systematically explore the entire spectrum of genomic changes involved in human
cancer,” according to the project’s website.
And man’s best friend was not just cloned in 2005, but sequenced as
well. In December an international team announced the publication of the
genome sequence of the dog in Nature.
Infectious Disease
Avian flu continued to be under sharp watch by the World Health
Organization. In 2005, the virus left its native Southeast Asia and spread to
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
27
Turkey via migratory birds. (Editor's Note: In January 2006, the WHO confirmed its first cases of human H5N1 infection in Turkey.)
A number of academic labs and companies began or continued work on
avian flu vaccines. Meanwhile, animal vaccination was suggested as an
alternative to bring the virus under control in birds, where a pandemic is
well under way.
Several countries have undertaken large-scale culling – a euphemism
for the killing of infected bird populations, and many experts believe that
Hong Kong’s massive culling when the first human infections were reported
there in 1997 has prevented a pandemic to date. But in a May editorial in
Nature, researchers at the St. Jude’s Children’s Research Hospital in
Memphis, Tenn., suggested that vaccination needs to move up the priority
list. They wrote, “A global strategy for preventing pandemics at their source
– in the animals, mostly poultry, that carry the virus – has received relatively
little attention.”
They said the goal “must be to reduce the virus load in ducks below the
transmissible level,” and added it “is probably the approach that has the
best chance of reducing the inevitability of H5N1 acquiring consistent
human-to-human transmission.”
A major advantage of animal vaccination is not scientific, but economic.
Poultry is often a major source of income generation for rural farmers in
Southeast Asia, especially in Vietnam, the country with the most confirmed
cases of H5N1. In other words, faced with an infected flock and the choice to
kill all birds and lose her livelihood or let them live and face a small chance
of becoming infected with H5N1 – well, for the rural farmer, the decision is
not easy.
In October researchers announced they had resurrected the virus that
caused the 1918 “Spanish flu” pandemic and sequenced its polymerase
genes that form its basic replication machinery. Scientists hoped their findings will help them understand why some forms of virus are more dangerous than others, as well as aid in molecular-based surveillance of viral
strains circulating in the wild. One thing already apparent from the
sequence data is that the 1918 strain was not a mix of bird and human flu
virus, as was the case for the strains that caused 20th century’s two other
pandemics, but was an entirely bird-derived virus that adapted to humans,
either directly or via an intermittent host. The research was published in the
28
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Oct. 6, 2005, issue of Nature and the next day’s issue of Science.
The 2005 Nobel Prize in physiology or medicine was awarded for a discovery concerning infectious disease: Barry Marshall, of the University of
Western Australia’s Helicobacter pylori Research Laboratory in Nedlands,
Australia, and Robin Warren, a pathologist retired from the Perth Royal hospital in Australia, received the prize for their discovery of “the bacterium
Helicobacter pylori and its role in gastritis and peptic ulcer disease.”
Neuroscience
The prion hypothesis – the idea that infectious diseases, in particular
spongiform encephalitises like Creutzfeldt-Jacobs disease, mad cow disease
and scrapie, can be transmitted by a protein rather than DNA or RNA – came
one step closer to being proved last year. In the April 22, 2005, issue of Cell,
researchers reported they were able to amplify abnormally folded prion
proteins in a test tube until, homeopathy-like, the concentration of original
material was too low to cause infection.
Very unlike homeopathy, though, the method generated plenty of artificial prion protein, and the scientists were able to cause scrapie in a previously healthy hamster by injecting the animal with those artificial proteins.
The experiments do not provide final proof for the prion hypothesis, which
would require a recombinant protein to infect a previously healthy animal.
But they are only one step away. Some of the fiercest critics of the prion
hypothesis remain unconvinced, though. On Oct. 21, they published
research on the infectiousness of different spongiform encephalitis strains
in Science that was incompatible with the prion hypothesis but consistent
with the idea that the infectious agent is a virus. Their explanation for the
Cell paper? Contamination.
Stem Cells
Stem cells were a highly active research field in 2005. The belief that
they are a cure-all, though fairly widespread in the scientific community,
continues to await clinical confirmation. Many major scientific stem cell
findings last year related to stem cell sources rather than cures:
In the February 2005 issue of Nature Medicine, researchers showed the
culturing methods used to grow most embryonic stem cell lines have led to
a contamination of those lines with acidic sugars that can lead to an
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
29
immune reaction in humans. At least one commercially available serum
replacement also contained such sugars. The scientists suggested that to be
sure contaminations do not ultimately reach the clinic, it might be best to
start afresh with new embryonic stem cell lines. Current federal regulations,
of course, prohibit the funding of research on or with new embryonic cell
lines.
Adult stem cells, which have none of the ethical problems associated
with embryonic stem cells, are sometime paraded by critics as proof that
embryonic stem cell research is unnecessary. Unfortunately, adult stem cells
have nowhere near the versatility of embryonic ones. The May 17, 2005,
issue of the Journal of Experimental Medicine contained a study showing
that blood stem cells do not form neurons when transplanted into the brain
after an injury. The paper was an extension of previous research that had
demonstrated that in the normal brain transplanted blood stem cells do not
form brain cells in appreciable numbers.
In October, scientists reported they had made embryonic stem cells by a
technique that does not allow the development of an embryo. Some
researchers celebrated the advance as providing embryonic stem cells without the ethical issues, though The New York Times quoted one researcher as
saying, “If you believe a fertilized egg is a human being, you would purposely be getting a defective person,” adding, “I honestly don’t understand the
moral high ground.”
Although the discovery originally came in 1961, the award came in 2005.
In September, the Lasker Foundation announced that the 2005 Albert Lasker
Award for Basic Medical Research was being shared by Ernest McCulloch
and James Till, both of the University of Toronto Ontario Cancer Institute in
Canada, for “ingenious experiments that first identified a stem cell – the
blood-forming stem cell – which set the stage for all current research on
adult and embryonic stem cells.”
This year is almost sure to bring new findings on avian flu, and given
the large-scale cancer efforts initiated near the end of 2005, significant
advances in understanding of cancer also are likely. Though given the stem
cell scandal following 2004’s many honors, it is wise to keep in mind the
saying attributed to Nobel prize winning physicist Nils Bohr: Prediction is
very difficult, especially if it’s about the future. ■
30
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
BIOWORLD
®
F I N A N C I A L
D
A
T
A
Discerning Market, Caution
Drove Trends In Financing
By Jennifer Boggs
Staff Writer
Despite a discriminating public market and increasing competition in
the venture capital arena, funding in biotech held strong in 2005, as money
continued to flow steadily into the sector.
The total $20.1 billion raised during the year marked a slight – about 3
percent – from the $20.8 billion brought in during 2004.
For some, the year was a boon. Certain public companies were able to
capitalize on clinical data and raise big money - such as Panacos
Pharmaceuticals Inc., which brought in $86 million six weeks after
reporting promising Phase II results with its lead drug, PA-457 in HIV. For
private firms, those with drugs in late-stage development generally met
with the most fund-raising success.
But the public markets cast a particular dilemma upon smaller but latestage firms. They faced the choice of entering a public market giving them
meager valuations, or attempting to squeeze additional funds from venture
capital investors.
During the year, a total of 33 biotech companies priced initial public offerings, only four fewer than in 2004. But those offerings generally drew less
money than expected. In 2005, a typical IPO story looked a lot like the tale of
Advanced Life Sciences. In August it priced its IPO at $32 million, but it had
hoped to raise $86 million when it filed for the offering in April. It cut expectations a few months later, to $42 million, when setting a price range of 6.4 million shares between $8 and $9. When it did price, each share was valued at $5.
Altogether, biotech raised $1.5 billion in initial public offerings, averaging about $45.5 million each. The 37 IPOs priced in 2004 brought in a total
of $2 billion, and averaged about $10 million more, at $55.25 million apiece.
As of Dec. 31, 1 1 companies had pending IPOs, but the low valuations in
2005 were enough to prompt a number of firms to reconsider, and more
than a dozen biotech companies withdrew their initial offerings.
There also is a third option – mergers and acquisitions – and some withdrew their IPOs in 2005 to go that route, such as Salmedix Inc. The company agreed to an acquisition by Cephalon Inc. in May. That deal was valued
at $160 million.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
33
“One of the things that stood out most in 2005 was the sharp increase
in M&A activity in the space,” said analyst Jason Kantor of RBC Capital
Markets in San Francisco, adding that the rise initially was fueled by an early
year flurry of acquisitions involving private companies “that for one reason
or another, didn't feel like they had access to good capital.”
According to BioWorld Snapshots, there were a total of 179 completed
mergers and acquisitions involving biotech firms in 2005, up nearly 18 percent from the 152 deals completed in 2004. The biggest deal of the year
came in late October, when pharma giant Novartis AG offered $5.1 billion
to buy Chiron Inc., indicating that “in public markets, as well, people are
eager to see more M&A,” Kantor said, adding, “You’ve got other companies
like Gilead and Genentech and Biogen Idec out there saying that they're
shopping around for acquisitions.”
VCs Favor Clinical-Stage Profiles
For established public firms, money was available – the number of public firms that raised money increased last year from 2004 – though the average follow-on priced about $10 million below the 2004 average. According
to BioWorld, a total of 59 offerings raised $4.1 billion, averaging $69.1 million apiece, compared to the 43 public offerings in 2004 that raised $3.4 billion and averaged $79.3 million each.
But the venture capital industry continued to provide strong support for
biotechnology. There was a steady stream of funds flowing into the life sciences sector in 2005. According to the 2005 MoneyTree venture capital survey, conducted by PriceWaterhouseCoopers, Thomson Venture Economics
and the National Venture Capital Association (NVCA), the amount of money
being invested in late-stage companies in all sectors increased for the
fourth year in a row. About 45 percent of private investments went to latestage firms, i.e. companies that have products in the clinic.
“That’s what investors are looking for,” said Philippe Chambon, managing director with New York-based New Leaf Venture Partners, which invests
primarily in companies with products in clinical development. “They want
late-stage, from a risk-profile standpoint.”
Or they want reduced risk in general – firms focusing on one thing and
doing it well.
“What was interesting to me is that we also started to see a more consistent emergence” of single-product companies, which is “really a bit more
34
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
akin to the medical device world,” Chambon said. Those companies focus on
a single opportunity “with the aim of developing that product to a certain
endpoint and then selling it to another company.”
One of New Leaf’s portfolio companies is a good example. Tioga
Pharmaceuticals Inc. was founded by investment firm Forward Ventures
in mid-2005 after gaining rights to asimadoline, a Phase II-stage compound
for gastrointestinal diseases from Merck KGaA. Tioga’s executives have
said that all the company’s resources are being put toward the development
of asimadoline.
This single-product trend is “a good thing for the biopharma sector,”
Chambon said.
Overall, biotechnology VC funding was down slightly from 2004 numbers,
but full-year figures from the 2005 MoneyTree venture capital survey showed
a slight increase in overall venture financing in 2005, with the entire life sciences segment – including the biotechnology and medical device industries –
capturing roughly 30 percent of VC money. Two biomedical firms made it onto
the MoneyTree list of the top 10 largest venture financings in 2005: Seattlebased Light Sciences Oncology Inc., which closed a $67 million Series A
round in December, and South San Francisco-based Portola
Pharmaceuticals Inc., which in November added $46 million in its Series B.
According to the survey, nearly $3.9 billion was invested in biotechnology
in the U.S. last year, down from about $4.1 billion in 2004. BioWorld’s figures,
which include financings from around the globe, reported a total of $4.8 billion raised by private companies in 2005, compared to $4.9 billion in 2004.
Despite the slight drop, the past two years have still been “at record levels, historically, for biotech financing, which long-term is very promising for
the sector,” said Tracy Lefteroff, global managing partner at PWC’s Venture
Capital & Private Equity Practice.
Whether that healthy fund raising will continue remains to be seen,
though the first month of 2006 started off on the right foot. Altus
Pharmaceuticals Inc. raised $105 million in an IPO, and Arena
Pharmaceuticals Inc. priced a follow-on offering, selling 9.75 million
shares at $16.90 apiece and raising $164.8 million for a Phase III trial with its
lead obesity drug.
“I think it’s going to continue,” PWC’s Lefteroff said of the financing
trend. ■
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
35
36
585.7
406.3
744.9
1,736.9
Public offerings
Private biotechs
Public/other
Total ($M)
2,137.1
701.1
636.6
799.4
Feb.
1,297.3
717.0
276.4
303.9
Mar.
562.7
309.2
182.4
71.2
Apr.
957.0
202.6
61 1.1
143.3
May
2,835.6
1,796.7
439.7
599.6
June
3,047.2
2,393.9
262.4
390.9
July
570.9
361.6
491.0
Sept.
266.3
588.8
527.8
Oct.
503.4
293.7
562.7
Nov.
755.8
314.9
373.8
Dec.
9,726.41
4,808.88
5,579.57
Total ($M)
1,930.6 1,423.4 1,382.8 1,359.7 1,444.5 20,1 14.86
764.7
435.4
730.5
Aug.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2005
rights offerings, standard private placements, PIPE financings and institutional offerings of registered stock.
Public/other = Other financings of public companies, including loans, bridge financings, exercises of warrants, debt offerings,
Private biotechs = Financing of private firms.
Public offerings = Initial, follow-on.
Notes:
Jan.
Type of
financing
Money Raised By Biotechnology Companies In 2005: January – December
2005 Initial Public Offerings
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Narhex Life
Sciences Ltd.
(Australia; ASX:NLS)
10/24/04
1/12/05
66.9S
ViaCell Inc.
(VIAC)
4/5/04
1/21/05
Favrille Inc.
(FVRL)
4/8/04
Icagen Inc.
(ICGN)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
A$0.20 161.4
Montagu Stockbrokers
A$13.4
($10.4)
A$32.3
8.625S
$7
37.20
Credit Suisse First Boston $60.38 $260.4
UBS Investment Bank (co-lead)
Lazard Freres & Co.
Leerink Swann & Co.
2/2/05
6S
$7
20.02
Bear, Stearns & Co.
CIBC World Markets
Needham & Co.
A.G. Edwards & Sons
4/8/04
2/3/05
5.1S
$8
21.54
UBS Investment Bank
$40.8
JP Morgan Securities (co-lead)
CIBC World Markets
Intercell AG
(Austria;
ATX:ICLL)
2/14/05
2/28/05 9.49S
€5.5
33.01
Goldman Sachs
Lehman Brothers
Bank Vontobel
DZ BANK
Erste Bank
€52.2
($68.7)
€181.6
MediciNova
Inc. (OSE:4875)
10/1/04
2/8/05
31.57S
Y400
98.85
($3.88)
Daiwa Securities SMBC
$122.5
$383.5
Paion AG
(Germany;
FSE:PA8G)
1/24/05
2/1 1/05
5S
€8
15.76
UBS Investment Bank
Dresdner Kleinwort
Wasserstein (co-lead)
Landesbank
€40
($52.7)
€126.1
Threshold
Pharmaceuticals
Inc. (THLD)
4/9/04
2/4/05
5.333S
$7
29.25
Banc of America
$37.33
CIBC World Markets (co-lead)
Lazard Freres & Co.
William Blair & Co.
2/17/05
3/4/05
16.4S
£1.28
55.56
Nomura International
JANUARY
FEBRUARY
$42
$140.1
$172.3
$204.8
MARCH
Ardana plc
(UK; LSE:ARA)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
£21
($40.5)
£71.1
37
2005 Initial Public Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Aspreva
Pharmaceuticals
Corp. (Canada;
ASPV; TSE:ASV)
1/24/05
3/3/05
8.28S
CardioVascular
BioTherapeutics
Inc. (OTC BB:CVBT)
9/27/04
Gross
(M)
$1 1
34.03
Merrill Lynch & Co.
$91.1
Banc of America (co-lead)
Pacific Growth Equities
BMO Nesbitt Burns
$374.3
3/14/05 1.725S
$10
122.8
First Dunbar Securities
$1,228.0
2/17/05
4/6/05
4.167S
C$12
28.69
RBC Dominion Securities C$50
National Bank Financial ($40.7)
(co-lead)
HSBC Securities
BMO Nesbitt Burns
CIBC World Markets
GMP Securities
Loewen, McCutcheon
Arpida Ltd.
(Switzerland;
SWX:ARPN)
4/1 1/05
5/4/05
5.4S
CHF18
16.37
Deutsche Bank
Julius Baer,
Lombard Odier Darier
Hentsch
Swissfirst
CHF97.2 CHF294.7
($80.7)
Galapagos NV
(Belgium;
Euronext:GLPG)
4/15/05
5/5/05
3.147S
€7
9.17
KBC Securities
Kempen & Co. (co-lead)
Fortis Bank
€22
($28.1)
Devgen NV
(Belgium;
Euronext:DEVG)
5/20/05
6/7/05
4.5S
€7.5
13.86
KBC Securities
Code Securities
Bank Degroof
€33.7
€104
($40.2) ($124)
Gentium SpA
(Italy; AMEX:GNT)
1/24/05
6/16/05 2.7S
$9
8.00
Maxim Group
$24.3
I-Bankers Securities (co-lead)
$72.0
ProStrakan
Group plc
(UK; LSE:PSK)
5/19/05
6/10/05
£1
186.0
Morgan Stanley & Co.
£40
Credit Suisse First Boston ($72.9)
Code Securities
£186
($339)
$17.25
PostOffering
Market
Cap (M)@
APRIL
Atrium
Biotechnologies
Inc. (Canada;
TSE:ATB)
C$344.3
MAY
€64.2
JUNE
38
40S
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Initial Public Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
TopoTarget
A/S (Denmark;
CSE:TOPO)
5/30/05
6/10/05
1 1.5S
DKK
22.5
39.93
ABN AMRO Rothschild
Danske Markets
Handelsbanken Capital
DKK259 DKK898
($41.5) ($144)
XenoPort Inc.
(XNPT)
1/19/05
6/2/05
5S
$10.5
19.23
Morgan Stanley & Co.
$52.5
$201.9
Deutsche Bank Securities (co-lead)
Pacific Growth Equities
Lazard Freres & Co.
7/5/05
7/27/05 36S
A$0.25 128.8
Lodge Corporate
Services
Advanced Life
Sciences
Holdings Inc.
(ADLS)
4/28/05
8/4/05
6.4S
$5
17.83
C.E. Unterberg, Towbin $32
ThinkEquity Partners
(co-lead)
Merriman Curhan Ford & Co.
$89.2
Coley
Pharmaceutical
Group Inc. (COLY)
4/20/05
8/10/05
6.9S
$16
25.70
Merrill Lynch & Co.
$1 10.4
JP Morgan Securities (co-lead)
Lazard Freres & Co.
Leerink Swann & Co.
$41 1.2
Avalon
Pharmaceuticals
Inc. (AVRX)
5/4/05
9/29/05 2.75S
$10.50
8.40
W.R. Hambrecht + Co.
$28.88
Legg Mason Wood Walker
Susquehanna Financial
$88.2
Genomic
Health Inc.
(GHDX)
7/15/05
9/29/05 5.017S
$12
24.37
JP Morgan Securities
$60.2
Lehman Brothers (co-lead)
Piper Jaffray & Co.
Thomas Weisel Partners
JMP Securities
$292.4
Sunesis
Pharmaceuticals
Inc. (SNSS)
12/23/04
9/26/05 6S
$7
21.46
Lehman Brothers
$42
SG Cowen & Co. (co-lead)
Needham & Co.
$150.2
JULY
EvoGenix
Ltd. (Australia;
ASX:EGX)
A$9
($6.85)
A$32.2
AUGUST
SEPTEMBER
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
39
2005 Initial Public Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Accentia Biopharmaceuticals
Inc. (ABPI)
2/1 1/05
Can-Fite
BioPharma Ltd.
(Israel; TEL:CFBI)
Jerini AG
(Germany; FSE:JI4)
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
10/28/05 2.4S
$8
28.87
Jefferies & Co.
Ferris, Baker Watts
Stifel, Nicolaus & Co.
GunnAllen Financial
$19.2
$231.0
9/26/05
10/5/05
NIS337 128.9
($73)
I.B.I Poalim
Apex Mutavim
D.I.M.
NIS45
($10)
NIS160
($35)
10/10/05
10/31/05 15.5S
€3.20
48.95
Credit Suisse First Boston €49.6
Deutsche Bank (co-lead) ($59.6)
Fortis Bank
West LB
€156.6
Biotec
Pharmacon ASA
(Norway; OSE:
BIOTEC)
9/30/05
1 1/4/05
3.922S
NOK
24.50
21.49
DnB NOR Bank ASA
NOK527
CombinatoRx
Inc. (CRXX)
12/13/04
1 1/9/05
6.9S
$7
23.22
SG Cowen & Co.
$48.3
Pacific Growth Equities (co-lead)
Lazard Capital Markets
A.G. Edwards
ExonHit
Therapeutics
SA (France;
Euronext:ALEHT)
10/18/05
1 1/16/05 2.71S
€2.89
21.97
Société Générale
€7.8
($9.3)
€63.5
BioAlliance
Pharma SA
(France;
Euronext:BIO)
1 1/17/05
12/7/05 2.256S
€13.30 8.27
Bryan Garnier & Co.
ING Securities (co-lead)
€30
($35.5)
€1 10.0
Somaxon
Pharmaceuticals
Inc. (SOMX)
10/7/05
12/15/05 5S
$1 1
Morgan Stanley & Co.
$55
JP Morgan Securities (co-lead)
Piper Jaffray & Co.
Thomas Weisel Partners
OCTOBER
0.133U
NOVEMBER
NOK96
($14.4)
$162.5
DECEMBER
40
18.03
$198.3
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Initial Public Offerings (Continued)
Notes:
* All totals inlcude the sale of shares (or units) to satisfy overallotment options, in full or in part, where applicable.
@ Market capitalization calculated is based on the offering price.
Foreign currency was converted to U.S. dollars based on the exchange rate at the time of the offering.
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; ATX = Austrian Stock Exchange;
CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange;
OTC BB = Over-the-Counter Bulletin Board; SWX = Swiss Stock Exchange; TEL = Tel Aviv Stock Exchange;
TSE = Toronto Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
41
2005 Follow-On Offerings
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
Amylin
Pharmaceuticals
Inc. (AMLN)
12/1 1/03
1/21/05
9.2S
$22
103.7
Morgan Stanley & Co.
$202.4
Goldman, Sachs & Co. (co-lead)
Banc of America Securities
JP Morgan Securities
Wachovia Capital Markets
$2,281.4
ISTA
Pharmaceuticals
Inc. (ISTA)
4/23/04
1/20/05
6.325S
$8.88
25.70
Banc of America Securities $56.2
Thomas Weisel Partners (co-lead)
Lazard Freres & Co.
C.E. Unterberg, Towbin
$228.2
La Jolla
Pharmaceutical
Co. (LJPC)
1 1/26/02
1/28/05
12.25S
$1.40
73.76
Pacific Growth Equities
$103.3
Martek
Biosciences
Corp. (MATK)
5/21/04
1/21/05
1.757S
$49.10 31.26
Citigroup
$86.3
Adams Harkness (co-lead)
Needham & Co.
First Albany Capital
D.A. Davidson & Co.
$1,534.8
Telik Inc.
(TELK)
4/9/04
1/28/05
8.05S
$18.75 51.88
UBS Investment Bank
JP Morgan Securities
Lehman Brothers
$972.8
Zonagen Inc.
(ZONA)
10/20/04
1/27/05
5.06S
$4
10.05
Punk, Ziegel & Co.
$20.24
WR Hambrecht + Co. (co-lead)
$40.2
Arena
Pharmaceuticals
Inc. (ARNA)
5/20/04
2/1/05
8.625S
$6
35.20
CIBC World Markets
$51.75
Piper Jaffray & Co. (co-lead)
Needham & Co.
Granite Financial Group
Morgan Joseph & Co.
$21 1.2
Barrier
Therapeutics
Inc. (BTRX)
1/24/05
2/10/05
2S
$19.50 23.89
Morgan Stanley & Co.
Pacific Growth Equities
JP Morgan Securities
$465.9
JANUARY
$17.15
$151.0
FEBRUARY
42
$39
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Follow-On Offerings (Continued)
Company
Date
(Symbol)
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
Bioenvision
Inc. (BIVN)
10/25/04
2/3/05
7.5S
$8
40.42
JP Morgan Securities
$60
UBS Investment Bank (co-lead)
CIBC World Markets
Friedman, Billings, Ramsey
$323.4
CoTherix Inc.
(CTRX)
1/12/05
2/10/05
4.25S
$8.90
23.89
CIBC World Markets
$37.83
Piper Jaffray & Co. (co-lead)
Needham & Co.
Thomas Weisel Partners
$210.4
Neose
Technologies
Inc. (NTEC)
2/7/05
2/18/05 8.05S
$4
32.78
UBS Investment Bank
JP Morgan Securities
Jefferies & Co.
$131.1
Northfield
Laboratories
Inc. (NFLD)12
12/23/04
2/4/05
5.175S
$15
26.73
UBS Investment Bank
$77.63
SG Cowen & Co. (co-lead)
Harris Nesbitt
Nuvelo Inc.
(NUVO)
1/24/05
2/2/05
9.775S
$7.50
42.01
UBS Investment Bank
$73.31 $315.0
Deutsche Bank Securities (co-lead)
CIBC World Markets
Needham & Co.
Tercica Inc.
(TRCA)
1/21/05
2/8/05
6.9S
$8
31.50
Lehman Brothers
$55.2
SG Cowen & Co. (co-lead)
Robert W. Baird & Co.
Friedman, Billings, Ramsey
Harris Nesbitt
$252.0
Cardiome
Pharma Corp.
(Canada; CRME)
3/1/05
3/18/05 9.775S
$6
50.82
UBS Investment Bank
$58.65
CIBC World Markets (co-lead)
GMP Securities
Leerink Swann & Co.
First Associates Investments
Orion Securities
$304.9
Neurochem Inc.
(Canada; NRMX)
2/23/05
3/4/05
4S
$15.30 34.41
UBS Investment Bank
CIBC World Markets
Piper Jaffray & Co.
Desjardins Securities
Wells Fargo Securities
BMO Nesbitt Burns
Fortis Securities LLC
$526.5
Vivus Inc.
(VVUS)
12/22/04
3/10/05
6.25S
$3.40
SG Cowen & Co.
$21.25 $151.2
Wachovia Capital Markets (co-lead)
$32.2
$401.0
MARCH
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
44.47
$61.2
43
2005 Follow-On Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
5/26/04
4/1/05
2S
$15.25 19.28
CIBC World Markets
$30.5
UBS Investment Bank (co-lead)
$294.0
4/18/05
5/25/05 3.478S
$12.25 13.43
CIBC World Markets
$42.6
Thomas Weisel Partners
William Blair & Co.
$164.6
CV Therapeutics
Inc. (CVTX)
6/22/05
6/29/05 8.35S
$21.60 44.45
Lehman Brothers
$180.4
Merrill Lynch & Co. (co-lead)
Piper Jaffray & Co.
SG Cowen & Co.
First Albany Capital
$960.1
Progenics
Pharmaceuticals
Inc. (PGNX)
5/26/04
6/10/05
1.53S
$19.25 20.81
UBS Investment Bank
$29.5
$400.6
Vertex
Pharmaceuticals
Inc. (VRTX)
4/1/05
6/7/05
13.51S
$13
94.71
Merrill Lynch
JP Morgan Securities
UBS Securities
$175.6
$1,231.2
BioMarin
Pharmaceutical
Inc. (BMRN)
12/23/02
7/14/05 8.5S
$7.05
73.24
Merrill Lynch & Co.
$59.9
$516.3
Keryx Biopharmaceuticals
Inc. (KERX)
9/29/04
7/15/05 5.78S
$14.05 37.28
JP Morgan Securities
$81.21
Bear, Stearns & Co. (co-lead)
Jefferies & Co.
Oppenheimer & Co.
Brean Murray & Co.
Punk, Ziegel & Co.
$523.8
Momenta
Pharmaceuticals
Inc. (MNTA)
7/1/05
7/21/05 4.827S
$27.02 30.35
Morgan Stanley & Co
$130.4 $820.1
Deutsche Bank Securities (co-lead)
Banc of America Securities
SG Cowen & Co
APRIL
Progenics
Pharmaceuticals
Inc. (PGNX)
MAY
SeraCare
Life Sciences
Inc. (SRLS)
JUNE
JULY
44
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Follow-On Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
Rigel
Pharmaceuticals
Inc. (RIGL)
7/1 1/05
7/15/05 4.198S
$20.75 24.13
Credit Suisse First Boston $87.1 1
Lehman Brothers (co-lead)
$500.7
Alexion
Pharmaceuticals
Inc. (ALXN)
5/14/04
8/12/05 2.5S
$26.75 30.69
Morgan Stanley & Co.
$66.88
$821.0
Amylin
Pharmaceuticals
Inc. (AMLN)
2/12/04
8/30/05 5.068S
$31
Goldman, Sachs & Co.
$157.1
$3,403.2
Anadys
Pharmaceuticals
Inc. (ANDS)
4/22/05
8/4/05
5.75S
$12.40 32.31
Credit Suisse First Boston $71.3
SG Cowen & Co. (co-lead)
Piper Jaffray & Co.
Needham & Co.
$400.6
Ariad
Pharmaceuticals
Inc. (ARIA)
12/19/03
8/5/05
8.625
$7.20
61.60
Lehman Brothers
Lazard Capital Markets
SG Cowen & Co.
$62.1
$443.5
CuraGen
Corp. (CRGN)
10/17/00
8/10/05
4S
$5.50
55.17
Bear, Stearns & Co.
$22
$303.4
Exelixis
Inc. (EXEL)
10/27/04
8/17/05 6.5S
$7.75
83.01
Goldman, Sachs & Co.
$50.4
$643.3
Nastech
Pharmaceutical
Co. Inc. (NSTK)
9/30/04
8/25/05 1.725S
$13.50 20.61
Needham & Co.
SunTrust Robinson
Humphrey
Delafield Hambrecht
$23.29
$278.2
ZymoGenetics
Inc. (ZGEN)
6/17/05
8/4/05
$18
65.43
Merrill Lynch & Co.
Pacific Growth Equities
Bear, Stearns & Co.
Piper Jaffray & Co.
$135
$1,177.7
Acusphere
Inc. (ACUS)
4/5/05
9/23/05 3.566S
$5.25
21.40
Piper Jaffray & Co.
$18.72
$1 12.4
BioDelivery
Sciences
International
Inc. (BDSI)
8/3/05
9/30/05 4.4S
$2
1 1.67
Ferris, Baker Watts
Maxim Group
GunnAllen Financial
$8.8
$23.3
AUGUST
7.5S
109.78
SEPTEMBER
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
45
2005 Follow-On Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Geron Corp.
(GERN)
5/5/04
9/16/05 6.9S
$9
Meridian
Bioscience
Inc. (VIVO)
10/9/03
9/16/05 1.8S
$17.50
Myogen Inc.
(MYOG)
6/3/05
9/16/05 5.376S
Progenics
Pharmaceuticals
Inc. (PGNX)
6/29/04
Renovis Inc.
(RNVS)
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
64.81
UBS Investment Bank
SG Cowen & Co.
Needham & Co.
Lazard Capital Markets
Rodman & Renshaw
WBB Securities
$62.1
$583.3
25.92
Robert W. Baird & Co.
$31.5
$453.6
$23.25 41.16
Goldman, Sachs & Co.
CIBC World Markets
First Albany Capital
Lazard Capital Markets
$125
$957.0
9/14/05 2.5S
$23.90 24.15
UBS Investment Bank
$59.75
CIBC World Markets (co-lead)
$577.2
5/23/05
9/23/05 4S
$13.50 28.86
Goldman, Sachs & Co.
CIBC World Markets
Piper Jaffray & Co.
SG Cowen & Co.
$389.6
CoTherix
Inc. (CTRX)
9/20/05
10/6/05
$13
28.34
CIBC World Markets
$56.4
UBS Investment Bank (co-lead)
Piper Jaffray & Co.
Needham & Co.
$368.4
Dynavax
Technologies
Inc. (DVAX)
8/29/05
10/1 1/05 5.72S
$6.25
30.47
Bear, Stearns & Co.
CIBC World Markets
Pacific Growth Equities
$35.75
$190.4
GTx Inc.
(GTXI)
8/17/05
10/1 1/05 6.325S
$7.80
30.99
Lazard Capital Markets $49.34
SG Cowen & Co. (co-lead)
$241.7
Idenix
Pharmaceuticals
Inc. (IDIX)
9/14/05
10/26/05 7.28S
$20.61 $55.63
Morgan Stanley & Co.
$150
Bear, Stearns & Co. (co-lead)
$1,146.5
Panacos
Pharmaceuticals
Inc. (PANC)
7/7/05
10/6/05
$10.50
SG Cowen & Co.
$86.63
Bear, Stearns & Co. (co-lead)
Needham & Co.
Leerink Swann & Co.
$501.5
$54
OCTOBER
46
4.338S
8.25S
47.76
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Follow-On Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Threshold
Pharmaceuticals
Inc. (THLD)
9/27/05
10/12/05 6.25S
$10.46
Digene
Corp. (DIGE)
12/15/04
1 1/16/05 2.3S
Durect Corp.
(DRRX)
10/27/05
1 1/2/05
Myriad
Genetics Inc.
(MYGN)
4/20/05
1 1/3/05
Onyx
Pharmaceuticals
Inc. (ONXX)
1/31/05
Pharmaxis
Ltd. (Australia;
PXSL)
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
37.1 1
Morgan Stanley & Co.
CIBC World Markets
Lazard Capital Markets
$65.38
$388.2
$28
22.44
JP Morgan Securities
$64.4
Thomas Weisel Partners (co-lead)
Goldman, Sachs & Co.
SG Cowen & Co.
$628.3
8.22S
$5
60.68
Morgan Stanley & Co.
$41.1
JP Morgan Securities (co-lead)
CIBC World Markets Corp.
WR Hambrecht + Co.
$303.4
8.05S
$18.50 39.00
JP Morgan Securities
$148.9
Bear, Stearns & Co. (co-lead)
UBS Securities (co-lead)
Piper Jaffray & Co.
First Albany Capital
JMP Securities
$721.5
1 1/18/05 5S
$25.25 40.39
Morgan Stanley & Co.
$126.3
Merrill Lynch & Co. (co-lead)
$1,019.8
8/31/05
1 1/8/05
$1.61
174.4
CIBC World Markets
JMP Securities
$280.8
Point
Therapeutics
Inc. (POTP)
12/17/04
1 1/22/05 9.26S
$3
32.75
Pacific Growth Equities $27.8
CIBC World Markets (co-lead)
$98.3
Senomyx
Inc. (SNMX)
10/24/05
1 1/4/05
$14.60 29.66
Deutsche Bank Securities $59
$433.0
Digene
Corp. (DIGE)
12/15/04
12/15/05 0.3S
$28
22.44
JP Morgan Securities
$8.4
Thomas Weisel Partners (co-lead)
Goldman, Sachs & Co.
SG Cowen & Co.
$628.3
Point
Therapeutics
Inc. (POTP)
12/17/04
12/2/05 1.21S
$3
32.75
Pacific Growth Equities $3.6
CIBC World Markets (co-lead)
$98.3
NOVEMBER
19.5S
4.05S
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
$31.4
47
2005 Follow-On Offerings (Continued)
Company
(Symbol)
Date
Filed
Date
Comm.
Shares/
Units (M)
Price
Shares
Out
(M)
Lead, Other
Underwriters
Gross
(M)
PostOffering
Market
Cap (M)@
Biopure Corp.
(BPUR)
12/1/05
12/21/05 10.12S
$0.68
34.48
Dawson James Securities $6.9
Noble International (co-lead)
$23.5
Dendreon
Corp. (DNDN)
10/26/05
12/7/05 1 1.5S
$4.50
70.86
Banc of America Securities $51.8
JMP Securities
Lazard Capital Markets
$318.9
Medivation
Inc. (OTC BB:
MDVN)
10/6/05
12/15/05 5.635S
$2
24.76
Adams Harkness
$1 1.27
$49.5
OxiGene
Inc. (OXGN)
12/1/05
12/15/05 7.475S
$3.65
28.04
SG Cowen & Co.
$27.3
Lazard Capital Markets (co-lead)
$102.3
ViroPharma
Inc. (VPHM)
10/19/01
12/7/05 10.35S
$16.75 68.26
Goldman, Sachs & Co.
$173.4
Piper Jaffray & Co. (co-lead)
SG Cowen & Co.
Lazard Capital Markets
$1,143.6
DECEMBER
Notes:
Totals include shares sold to satisfy overallotment options, in full or in part, where applicable.
@ Market capitalization calculated is based on the offering price.
Foreign currency is converted to U.S. dollars based on the exchange rate at the time of the offering.
Unless otherwise noted, trading symbols are listed on the Nasdaq market.
OTC BB = Over-the-Counter Bulletin Board.
48
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
After-Market Performance: Class of 2005
U.S. Initial Public Offerings
Company
Offering
Month
Offering
Price
2005
Close
%
Change
Accentia
Biopharmaceuticals Inc.
October
$8
$5.05
-37%
Advanced Life
Sciences Holdings Inc.
August
$5
$3.92
-22%
Aspreva
Pharmaceuticals Corp.
March
$1 1
$15.72
+43%
Avalon
Pharmaceuticals Inc.
September
$10.50
$4.50
-57%
CardioVascular
BioTherapeutics Inc.
March
$10
$4.55
-55%
Coley Pharmaceutical
Group Inc.
August
$16
$15.16
-5%
Combinatorx Inc.
November
$7
$8.18
+17%
Favrille Inc.
February
$7
$4.06
-42%
Genomic Health Inc.
September
$12
$9.1 1
-24%
Gentium SpA (Italy)
June
$9
$7.75
-14%
Icagen Inc.
February
$8
$6.45
-19%
Somaxon
Pharmaceuticals Inc.
December
$1 1
$9.95
-10%
Sunesis
Pharmaceuticals Inc.
September
$7
$4.98
-29%
Threshold
Pharmaceuticals Inc.
February
$7
$14.45
+106%
ViaCell Inc.
January
$7
$5.62
-20%
XenoPort Inc.
June
$10.50
$17.95
+71%
Average Change: -6.1%
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
49
After-Market Performance: Follow-On Class of 2005
U.S. Public Follow-On Stock Offerings
Company
Offering
Month
Offering
Price
Acusphere Inc.
September
$5.25
$5.34
-1%
Alexion Pharmaceuticals Inc.
August
$26.75
$20.25
-24%
Amylin Pharmaceuticals Inc.
August
$31
$39.92
+29%
Amylin Pharmaceuticals Inc.
January
$22
$39.92
-81%
Anadys Pharmaceuticals Inc.
August
$12.40
$8.80
-29%
Arena Pharmaceuticals Inc.
February
$6
$14.21
+137%
Ariad Pharmaceuticals Inc.
August
$7.20
$5.85
-19%
Barrier Therapeutics Inc.
February
$19.50
$8.20
-58%
BioDelivery Sciences
International Inc.
September
$2
$2.48
+24%
Bioenvision Inc.
February
$8
$6.53
-18%
BioMarin Pharmaceutical Inc.
July
$7.05
$10.78
-53%
Biopure Corp.
December
$0.68
$0.78
-15%
Cardiome Pharma Corp.
March
$6
$10.10
-68%
CoTherix Inc.
October
$13
$10.58
-19%
CoTherix Inc.
February
$8.90
$10.58
-19%
CuraGen Corp.
August
$5.50
$3.08
-44%
CV Therapeutics Inc.
June
$21.60
$24.73
-14%
Dendreon Corp.
December
$4.50
$5.42
-20%
Digene Corp.
November
$28
$29.17
-4%
Durect Corp.
November
$5
$5.07
-1%
Dynavax Technologies Inc.
October
$6.25
$4.21
-33%
Exelixis Inc.
August
$7.75
$9.42
+35%
Geron Corp.
September
$9
$8.61
-4%
50
2005
Close
%
Change
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 After-Market Performance, Follow-On Offerings (Continued)
Company
Offering
Month
Offering
Price
GTx Inc.
October
$7.80
$7.56
-3%
Idenix Pharmaceuticals Inc.
October
$20.61
$17.1 1
-17%
ISTA Pharmaceuticals Inc.
January
$8.88
$6.36
-28%
Keryx Biopharmaceuticals Inc.
July
$14.05
$14.64
+4%
La Jolla Pharmaceutical Co.
January
$7
$3.70
-47%
Martek Biosciences Corp.
January
$49.10
$24.60
-50%
Meridian Bioscience Inc.
September
$17.50
$20.14
+15%
Momenta Pharmaceuticals Inc.
July
$27.02
$22.04
-18%
Myogen Inc.
September
$23.25
$30.10
+29%
Myriad Genetics Inc.
November
$18.50
$20.80
+12%
Nastech Pharmaceutical Co.
August
$13.50
$14.72
+9%
Neose Technologies Inc.
February
$4
$1.94
-52%
Neurochem Inc.
March
$15.30
$14.22
-7%
Northfield Laboratories Inc.
February
$15
$13.40
-1 1%
Nuvelo Inc.
February
$7.50
$8.1 1
+8%
Onyx Pharmaceuticals Inc.
November
$25.25
$28.80
+14%
OxiGene Inc.
December
$3.65
$3.97
+9%
Panacos Pharmaceuticals Inc.
October
$10.50
$6.93
-34%
Point Therapeutics Inc.
November
$3
$3.45
+15%
Progenics Pharmaceuticals Inc.
September
$23.90
$25.01
+5%
Progenics Pharmaceuticals Inc.
June
$19.25
$25.01
+30%
Progenics Pharmaceuticals Inc.
April
$15.25
$25.01
+64%
Renovis Inc.
September
$13.50
$15.30
+13%
Rigel Pharmaceuticals Inc.
July
$20.75
$8.36
-60%
Senomyx Inc.
November
$14.60
$12.12
-20%
SeraCare Life Sciences Inc.
May
$12.25
$8.87
-28%
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005
Close
%
Change
51
2005 After-Market Performance, Follow-On Offerings (Continued)
Company
Offering
Month
Offering
Price
Telik Inc.
January
$18.75
$16.99
-9%
Threshold Pharmaceuticals Inc.
October
$10.46
$14.45
-38%
Tercica Inc.
February
$8
$7.17
-10%
Vertex Pharmaceuticals Inc.
June
$13
$27.67
+1 13%
ViroPharma Inc.
December
$16.75
$18.50
+10%
Vivus Inc.
March
$3.40
$2.96
-13%
Zonagen Inc.
January
$4
$5.1 1
+28%
ZymoGenetics Inc.
August
$18
$17.01
-6%
Average Change:
52
2005
Close
%
Change
+4.5%
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Initial Public Offerings
Gross Proceeds ($M)
450
33 IPOs; $1,503M Total Gross Proceeds
364
375
300
234
225
149
150
142
109
74
89
41
75
131
72
91
7
0
Jan. (2)
Feb. (6)
March (3) April (1)
May (2)
June (5)
July (1)
Aug. (2)
Sept. (3)
Oct. (3)
Nov. (3)
Dec. (2)
Month (Number of IPOs)
2004 Initial Public Offerings
37 IPOs; $2,045M Total Gross Proceeds
Gross Proceeds ($M)
450
400
375
390
292
300
284
215
225
157
150
143
112
75
34
0
0
27
0
Jan. (1)
Feb. (4)
March (5) April (6)
May (3)
June (7)
July (6)
Aug. (1)
Sept. (0)
Oct. (2)
Nov. (0)
Dec. (2)
Month (Number of IPOs)
2003 Initial Public Offerings
1 1 IPOs; $563M Total Gross Proceeds
Gross Proceeds ($M)
420
350
318
280
210
150
140
63
70
0
0
Jan (0)
0
Feb. (0)
0
0
March (0) April (0)
0
0
May (0)
June (0)
0
July (0)
32
0
Aug. (0)
Sept. (1)
Oct. (6)
Nov. (2)
Dec. (2)
Month (Number of IPOs)
2002 Initial Public Offerings
Gross Proceeds ($M)
375
4 IPOs; $456M Total Gross Proceeds
325
300
225
150
120
75
0
0
0
Jan (0)
Feb. (1)
March (0) April (2)
0
11
May (0)
June (1)
0
July (0)
0
0
0
0
0
Aug. (0)
Sept. (0)
Oct. (0)
Nov. (0)
Dec. (0)
Month (Number of IPOs)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
53
2005 Follow-On Offerings
65 Follow-On Offerings; $4,091M Total Gross Proceeds
Gross Proceeds ($M)
750
625
588
533
500
511
427
444
386
360
375
141
250
125
271
230
31
43
0
Jan. (6)
Feb. (8)
March (3)
April (1)
May (1)
June (3)
July (4)
Aug. (8)
Sept. (7)
Oct. (6)
Nov. (9)
Dec. (5)
Month (Number of Follow-ons)
2004 Follow-On Offerings
705
750
Gross Proceeds ($M)
45 Follow-On Offerings; $3,405M Total Gross Proceeds
696
591
625
500
326
375
250
241
216
179
157
136
125
71
88
Sept. (1)
Oct. (2)
0
Jan. (3
Feb. (12) March (3)
April (3)
May (4)
June (2)
July (7)
Aug. (0)
Nov. (4)
Dec. (4)
Month (Number of Follow-ons)
2003 Follow-On Offerings
693
700
Gross Proceeds ($M)
600
42 Follow-On Offerings; $3,133M Total Gross Proceeds
462
500
400
300
342
337
305
255
170
200
88
75
100
210
162
34
0
Jan. (3)
Feb. (1)
March (3) April (1)
May (2)
June (3)
July (4)
Aug. (4)
Sept. (6)
Oct. (5)
Nov. (6)
Dec. (4)
Month (Number of Follow-ons)
2002 Follow-On Offerings
300
20 Follow-On Offerings; $925M Total Gross Proceeds
226
Gross Proceeds ($M)
250
199
200
157
137
150
100
66
59
50
59
22
0
0
Jan. (2)
Feb. (4)
March (4) April (0)
0
May (2)
June (3)
July (0)
0
0
Aug. (0)
Sept. (2)
Oct. (2)
Nov. (1)
Dec. (0)
Month (Number of Follow-ons)
54
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Quarter:Year
Gross Proceeds Of Biotech Public Stock Offerings,
First Through Fourth Quarter 1995-2005,
Initial And Follow-On Offerings Combined
1,476
1,587
4Q:05
3Q:05
2Q:05
1Q:05
4Q:04
3Q:04
2Q:04
1Q:04
4Q:03
3Q:03
2Q:03
1Q:03
4Q:02
3Q:02
2Q:02
1Q:02
4Q:01
3Q:01
2Q:01
1Q:01
4Q:00
3Q:00
2Q:00
1Q:00
4Q:99
3Q:99
2Q:99
1Q:99
4Q:98
3Q:98
2Q:98
1Q:98
4Q:97
3Q:97
2Q:97
1Q:97
4Q:96
3Q:96
2Q:96
1Q:96
4Q:95
3Q:95
2Q:95
1Q:95
840
1,685
1,281
98
1,207
1,937
1,544
1,364
274
506
196
199
417
569
213
1,533
866
1,191
2,386
7,992
4,020
2,394
340
396
8,907
3,936
93
193
320
419
186
784
520
867
735
498
804
113
73
0
1,000
1,264
1,981
1,179
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Gross Proceeds ($M)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
55
2005 Miscellaneous Financings Of Public Biotech Companies
Company
(Symbol)#
Type Of
Financing
Number
Of Shares,
Units Or
Warrants (M)
Amount
Raised
($M)
Investors; Placement Agents; Details
(Date)
Private
placement of
stock
4.8S
$12
The private placement concludes an October 2002
deal between Aastrom and Fusion Capital Fund II
LLC, which also purchased $12M of stock in the
first tranche (1/13)
Alexion
Private
Pharmaceuticals placement of
Inc. (ALXN)
convertible
notes
N/A
$150
The 1.375% convertible senior notes due 2012 are
convertible into stock at $31.46 per share; the total
includes the purchase of $25M in notes per the
investors’ option (1/18)
Alteon Inc.
(AMEX:ALT)
Private
placement of
stock
9.5S
$10
The shares were sold from a shelf registration at
$1.05 each; Rodman & Renshaw LLC was placement
agent (1/7)
Antigenics
Inc. (AGEN)
Private
placement of
convertible
notes
N/A
$50
The 5.25% convertible senior notes initially are
convertible into common stock at $10.76 per share;
investors have an option on another $10M in notes
(1/20)
ArQule Inc.
(ARQL)
Private
placement of
stock
5.78S
$30.35
ArQule sold the shares from a shelf registration at
$5.25 each in a direct offering; JP Morgan Securities Inc. was placement (1/25)
AtheroGenics
Inc. (AGIX)
Private
placement of
convertible
notes
N/A
$200
The 1.5% notes due 20 1 2 are convertible into
common shares at an initial price of about $25.92
per share; the total includes $25M in notes
purchased under an overallotment option (1/7)
AVI BioPharma
Inc. (AVII)
Private
placement of
stock and
warrants
8S and
1.6W
$24
AVI sold the shares from a shelf registration at $3
each; the four-year warrants are exercisable at $5
per share; Rodman & Renshaw LLC was placement
agent (1/19)
Biofusion plc
(UK; AIM:BFN)
Private
placement of
stock
5.49S
£8.2
($15.45)
Biofusion gained a listing on the Alternative Invesment Market concurrent with the placement,
giving the company a market cap of about
£28.2M; Code Securities Ltd. was adviser and
broker for the deal (1/28)
Biopure Corp.
(BPUR)
Private
placement of
stock
22.2S
$1 1.3
The shares were sold from a shelf registration at
$0.51 each to individual and institutional investors;
C.E. Unterberg, Towbin LLC was placement agent
(1/5)
JANUARY
Aastrom
Biosciences
Inc. (ASTM)
56
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
0.048U
$12
The company sold 480 units at $25,000 per unit;
each unit consists of one share of Series A stock,
each convertible into 10,000 common shares, and
one three-year warrant that entitles the holder to
purchase 5,000 shares; Brookshire Securities
Corp. was placement agent (1/31)
ChemGenex
Private
Pharmaceuticals placement of
Ltd. (Australia;
stock
ASX:CXS)
14.9S
A$8.2
($6.3)
The shares were sold at A$0.55 each; investors
included Charter Pacific Corp. Ltd., which maintained its 20. 1% stake, Queensland Investment
Corp., Merck Sante, HSBC and Acorn Capital (1/24)
Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)
Private
placement of
stock and
warrants
2.215S and
1.108W
C$1.06
($0.86)
Units were sold for C$0.48 apiece; each consists of
one share and a half a warrant; each whole warrant
allows for the purchase of one share at C$0.60 for
two years (1/14)
ConjuChem
Inc. (Canada;
TSE:CJC)
Bought-deal
financing
4.625S
C$21.74M
($17.53)
Orion Securities Inc. and GMP Securities Ltd. co-led
the financing, in which shares were sold at $4.70
each; underwriters have an option to purchase up
to 694,000 additional shares (1/28)
CytRx Corp.
(CYTR)
Private
placement of
stock and
warrants
17.33S and
8.67W
$21.3
The shares were sold for about $1.23 each to institutional investors; warrants are exercisable for $2
per share; Rodman & Renshaw LLC was placement
agent (1/21)
Depomed
Inc.
Private
placement of
stock
5.036S
$22.66
The shares are being sold from a shelf registration
at $4.50 each; Thomas Weisel Partners LLC was
placement agent (1/7)
DOV
Pharmaceutical
Inc. (DOVP)
Private
placement of
convertible
notes
N/A
$15
Purchasers of $65M of convertible subordinated
debentures due 2025 exercised their option on
another $15M in notes; they have an interest rate of
2.5% and an initial conversion price of $22.75 per
share (1/4)
Genetronics
Private
Biomedical
placement of
Corp. (AMEX:GEB) stock and
warrants
ND
$3.03
Shares were sold at $4.05 each to institutional investors; 80% of the funds are being held until Sept.
30, unless triggered by a milestone earlier; twoyear warrants representing 33% of the total are
exercisable at $5.50 per share (1/12)
Geron Corp.
(GERN)
2S
$12.5
Investors in a November 2004 private placement
exercised warrants to purchase 2M shares (1/12)
7.7S
$10.4
The shares were sold from a shelf registration at
$1.35 each; SG Cowen & Co. LLC was placement
agent (1/24)
CepTor Corp.
(OTC BB:CEPO)
Type Of
Financing
Private
placement of
units
Warrants
exercise
GTC
Private
Biotherapeutics placement of
Inc. (GTCB)
stock
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
57
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Lorus
Therapeutics
Inc. (Canada;
TSE:LOR)
Private
placement of
convertible
notes
N/A
$5
TEMIC made the second of three planned $5M
investments; it has an option to convert the debenture into common stock at $1 per share (1/17)
Ortec
International
Inc. (OTC BB:
ORTN)
Private
placement of
stock and
warrants
N/A
$6.4
The total includes a $5M private placement and a
$1.4M equity transaction; at the same time, Series C
preferred shareholders converted the shares into
common stock on the same terms; together, about
15.8M shares and five-year warrants to purchase
7.9M warrants were issued (1/6)
Pharming
Group NV
(the Netherlands;
Euronext:PHARM)
Exercise of
warrants
and options
ND
€7
($9.1)
Investors in a February 2004 financing exercised
warrants to purchase 3.3M shares at €2 each;
also, company insiders exercised 0.5M options and
warrants (1/24)
Pluristem
Life Systems
Inc. (Israel;
OTC BB:PLRS)
Private
placement of
securities
ND
$0.76
Terms of the interim private placement were not
disclosed (1/27)
RegeneRx BioPrivate
pharmaceuticals placement of
Inc. (OTC BB:RGRX) stock and
warrants
1.8S and
0.45W
$5.86
Investors led by Sigma-Tau Group bought the
shares at $3.25 each; the three-year warrants are
exercisable at $4.06 per share; ThinkEquity
Partners LLC was placement agent for the twotranche deal (1/3)
Sinovac
Private
Biotech Ltd.
placement of
(China; AMEX:SVA) units
0.492S and
0.492W
$1.48
Institutional investors paid $3 per unit, which consisted of one share and a one-year warrant exercisable at $3.35 per share (1/3)
Sirna
Therapeutics
Inc. (RNAI)
Warrants
exercise
2.7S
$6.8
Investors exercised warrants for 2.7M shares at
about $2.52 each; investors were Sprout Group,
Venrock Associates, Oxford Bioscience Partners
and Granite Global Ventures; they were issued 1.1M
new five-year warrants exercisable at $3.85 per
share (1/4)
Targeted
Genetics Corp.
(TGEN)
Private
placement of
stock
3.947S
$6
Celladon Corp. investors Enterprise Partners and
Venrock Associates purchased the stock in a
directed public offering at $1.52 per share following a collaboration between Celladon and Targeted
Genetics (1/4)
Tripos Inc.
(TRPS)
Private
placement of
various
securities
N/A
$4
Horizon Technology Finance LLC and Sand Hill
Capital invested in the deal that included $3.5M of
subordinated debt, 1 1 1,606 shares of stock and
warrants to purchase 156,250 shares (1/5)
58
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Vasogen Inc.
(Canada; VSGN)
Private
placement of
stock
9S
$42.3
Vasogen sold the shares from a shelf registration
at $4.70 per share; SG Cowen & Co. LLC was lead
agent and sole book manager for the deal; Needham & Co. Inc. was co-lead agent, and A.G. Edwards
& Sons Inc. was placement agent (1/28)
Vion
Private
Pharmaceuticals placement of
Inc. (VION)
stock
10S
$32.5
Vion sold the shares from a shelf registration at
$3.25 each to institutional investors; CIBC World
Markets Corp. and Leerink Swann & Co. were placement agents (1/26)
FEBRUARY
Acusphere
Inc. (ACUS)
Sale of
convertible
stock
N/A
$45
Acusphere sold 900,000 shares of 6.5% convertible
exchangeable preferred stock at $50 per share;
it is convertible into common stock at $6.86 per
share; underwriters Piper Jaffray & Co. (lead), SG
Cowen & Co. and C.E. Unterberg, Towbin have an
overallotment option on another 100,000 shares
(2/18)
Alkermes
Inc. (ALKS)
Private
placement of
notes
N/A
$170
The 7% notes due 2018 will be paid solely from
manufacturing and royalty revenues from sales of
Risperdal Consta, a schizophrenia drug marketed
by J& J unit Janssen-Cilag (2/3)
BioBalance
Corp. (subsidiary
of New York
Health Care Inc.;
OTC BB:BBAL)
Private
placement of
stock and
warrants
7.9S and
3.9W
$4.9
The shares were sold at $0.62 each; warrants are
exercisable at $0.78 per share; investors included
Mellon HBV Alternative Strategies and Little Gem
Life Sciences Fund LLC; placement agent Sterling
Financial Investment Group got warrants to purchase shares equal to 15% of the offering at $0.62
per share (2/24)
BioCryst
Private
Pharmaceuticals placement of
Inc. (BCRX)
stock
4.35S
$23.9
The shares were sold from a shelf registration at
$5.50 each; Leerink Swann & Co. was placement
agent (2/17)
BioDelivery
Sciences
International
Inc. (BDSI)
Convertible
debt deal
N/A
$2.5
Laurus Master Fund Ltd. bought the three-year,
prime-plus-2% note convertible into common stock
at $3.10 per share; Laurus also got warrants to
purchase up to 350,000 shares at $3.88 per share
(2/23)
Cytomedix
Inc. (OTC BB:
CYME)
Warrants
and options
exercise
ND
$1.4
Investors exercised about 1. 1M warrants and
options between Oct. 1, 2004, and Feb. 15, 2005
(2/15)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
59
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Discovery
Laboratories
Inc. (DSCO)
Private
placement of
stock
5.05S
$29.1
Shares in the registered direct offering were sold
at $5.76 each; SG Cowen & Co. LLC was placement
agent (2/18)
DOR
BioPharma Inc.
(AMEX:DOR)
Private
placement of
stock and
warrants
8.4S and
6.3W
$3.77
Institutional investors purchased the stock and
warrants; the five-year warrants are exercisable at
101% of the closing price the day of the deal, starting
180 days after the deal’s close (2/3)
Ecopia
BioSciences
Inc. (Canada;
TSE:EIA)
Bought-deal
financing
1 1U
C$9.9
($8)
Units, sold at C$0.90 each, consist of one share
and one-third of a warrant; each two-year whole
warrant allows for the purchase of one share at
C$1.03; the underwriting syndicate was led by
Desjardins Securities Inc. and included First
Associates Investments Inc. and Orion Securities
Inc.; the totals include their purchase of 1M units
per their overallotment option (2/25)
GeneMax Corp.
(Canada; OTC BB:
GMXX)
Private
placement of
stock and
warrants
9.3S and
4.65W
$1.4
The warrants are exercisable from $0.15 to $0.50
each, depending on the timing and other factors;
finders’ fees of 8% cash and 5% warrants were paid
to certain brokers in the deal (2/15)
GW
Private
Pharmaceuticals placement of
plc (UK; LSE:GWP) stock and
warrants
2.03S and
0.203W
£2.5
($4.8)
GW’s U.S. founding investor increased its stake in
the company with the purchase of shares at £1.235
per share; the five-year warrants are exercisable at
£1.35 per share (2/28)
MultiCell
Technologies
Inc. (OTC BB:
MUCL)
Private
placement of
stock and
warrants
26.67S and
26W
$4
The shares were sold at $0.15 each; 18M of the
three-year warrants are exercisable at $0.20 and
8M of them at $0.30; Mercator Group Advisors LLC
and Marr Group were the lead investors (2/14)
Neurologix
Inc. (OTC BB:
NRGX)
Private
placement of
stock and
warrants
1.896S and
0.474W
$2.46
The shares were sold at $1.30 each; the five-year
warrants are exercisable at $1.625 per share;
Merlin Biomed Group led the financing, which was
done in two closings (2/1 1 and 2/25)
Oncolytics
Biotech Inc.
(Canada; ONCY)
Warrants
exercise
0.814S
$3.25
Investors in a June 2003 financing exercised warrants for about 0.814M shares (2/22)
PharmaFrontiers Corp.
(OTC BB:PFTR)
Private
placement of
convertible
notes
N/A
$6.1
The $6.1M convertible notes will be automatically
exchanged for stock if PharmaFrontiers raises
$10M in a stock sale before the notes’ maturity on
Nov. 30, 2005 (2/14)
60
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Protein Design
Labs Inc. (PDLI)
Private
placement of
convertible
notes
N/A
$250
The 2% notes due 2012 are convertible into common stock at $23.69 per share; investors have
an option to purchase another $50M of the
notes (2/9)
Scolr Pharma
Inc. (AMEX:DDD)
Private
placement of
stock
3.75S
$15
The shares were sold at $4 each; the placement
agent, Taglich Brothers, received a fee and fiveyear warrants to purchase up to 75,000 shares
(2/8)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
Bought-deal
financing
4.33S
C$9.3
($7.6)
The shares were sold at C$2.15 through a syndicate of underwriters led by Orion Securities Inc.
and including Dlouhy Merchant Group (2/3)
Vernalis plc
(UK; VNLS)
Private
placement and
open offer
43.3S
£30.3
($57.9)
The shares were sold at 70 pence each; existing
shareholders were offered five new shares for
every 18 ordinary shares held (2/24)
XOMA Ltd.
(XOMA)
Private
placement of
convertible
notes
N/A
$60
The 6.5% senior notes are convertible into common
stock at an initial price of $1.87; purchasers have
an option to buy up to $5M more of the notes (2/1)
ALDA
Pharmaceuticals
Corp. (Canada;
CDNX:APH)
Private
placement of
stock and
warrants
2.205S and
2.205W
C$0.22
($0.18)
Units were sold at C$0.10 each; the 18-month warrants are exercisable at C$0.20 per share; placement agent Canaccord Capital Corp. was paid a 10%
fee and received 220,500 warrants (3/16)
Allos
Therapeutics
Inc. (ALLP)
Private
placement of
convertible
stock
N/A
$52
Allos sold the exchangeable preferred stock from a
shelf registration to Warburg Pincus Private Equity
VIII LP at a 7% discount to a 20-day average; the
stock will accrue dividends of 10% if it remains outstanding after 15 months; the total includes a $2M
follow-on investment; Needham & Co. Inc. was
placement agent (3/3)
Altachem
Pharma Ltd.
(Canada;
CDNX:AAF)
Private
placement of
convertible
notes
N/A
C$1
($0.82)
AltaChem issued 8% notes with a one-year maturity
that are convertible into common shares at C$0.45
per share (3/23)
Altachem
Pharma Ltd.
(Canada;
CDNX:AAF)
Private
placement of
stock and
warrants
1.772S and
0.861W
C$0.44
($0.36)
AltaChem closed the first tranche of the non-brokered placement; the shares sold at C$0.25 each,
and the one-year warrants are exercisable at
$0.45 per share (3/7)
MARCH
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
61
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Amazon
Biotech Inc.
(OTC BB:AMZB)
Private
placement of
stock and
warrants
0.7S and
1.1W
$0.35
Amazon closed two deals in which it sold units at
$0.50 each; warrants are exercisable at $0.58,
$0.72 and $1.13 per share; Parker Financial Corp.
got a finder's fee of $25,000 and a warrant to purchase 125,000 shares at $1.13 per share (3/14)
BioMS Medical
Corp. (Canada;
TSE:MS)
Private
placement of
stock and
warrants
1 1.5S and
1 1.5W
C$41.4
($34)
Units consisting of one share and a four-year
warrant exercisable at C$5 were sold at C$3.60
each; the underwriting syndicate was led by Fraser
Mackenzie Ltd. and included Pacific International
Securities Inc. and Dlouhy Merchant Group Inc.
(3/23)
Boston Life
Sciences Inc.
(BLSI)
Private
placement of
stock
2S
$5
Shares in the deal were sold at $2.50 each (3/9)
BrainStorm Cell Private
Therapeutics
placement of
(Israel; OTC BB:
securities
BCLI)
ND
$1.5
The company said it completed the final closing in
a $1.5M seed private placement; details were not
disclosed (3/1)
Callisto
Private
Pharmaceuticals placement of
Inc. (AMEX:KAL)
stock
1.99S
$3.02
The shares were sold at $1.52 each in a financing
led by current institutional shareholders and
including certain members of the company’s management (3/10)
Connetics
Corp. (CNCT)
Private
placement of
convertible
notes
N/A
$200
The 2% notes due in March 2015 are convertible
into cash and, under certain circumstances, shares
of stock at an initial price of $35.46 per share;
the total includes $50M in notes purchased per
the lead investor’s option (3/17)
Cytos
Biotechnology
AG (Switzerland;
SWX:CYTN)
Private
placement of
stock
0.46S
CHF21.4
($18.5)
Swissfirst Bank AG purchased the shares, and
placed them with institutional investors (3/1 1)
Encysive
Private
Pharmaceuticals placement of
Inc. (ENCY)
convertible
notes
N/A
$130
The 2.5% notes due 2012 initially are convertible
into common stock at about $13.95 per share;
the total includes the purchase of $15M in notes
per an investor option (3/1 1)
Evolutec
Group plc
(UK; AIM:EVC)
7.143S
£9.5
($17.9)
The shares were placed at 140 pence each in a deal
fully underwritten by Collins Stewart; the shares
were placed at a discount of 21.6% (3/23)
62
Private
placement of
stock
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Evotec OAI
AG (Germany;
FSE:EVT)
Private
placement of
stock
10S
€27.2
($36.6)
Investors committed to purchase 10M share at
€2.72 at the same time that Evotec disclosed its
all-stock reacquisition of Evotec Neurosciences
(3/7)
GlycoGenesys
Inc. (GLGS)
Private sale
of convertible
stock and
warrants
2S and
2W
$2
The company sold 2,000 shares of convertible,
redeemable Series D preferred stock, currently
convertible into 2M shares of common stock, and
warrants to purchase 2M shares at $1.23 each;
a second closing of $4.5M already has been agreed
upon (3/4)
Helix
BioMedix Inc.
(OTC BB:HXBM)
Private
placement of
stock and
warrants
1.665S and
0.125W
$2.5
Helix completed a two-part private financing that
brought in a total of $2.5M; the five-year warrants
are exercisable at $1.50 per share (3/2)
Hemosol
Corp. (Canada;
HMSL)
Private
placement of
convertible
stock, stock
and warrants
N/A and
10.95S and
10.95W
C$13.4
($1 1.1)
Laurus Master Fund Ltd. purchased a three-year,
2%, $5M note convertible into stock at $0.69 per
share; it also got a five-year warrant for the purchase of 2.73M shares at $0.86 and $1.04 per
share; separately, Hemosol sold 10.95M special
warrants at C$0.67 each; each consists of one
share and a five-year warrant to purchase one
share at C$1; Life Science Group Inc. and Loewen,
Ondaatje, McCutcheon Ltd. were placement agents
(3/31)
Insmed Inc.
(INSM)
Private
placement of
convertible
notes and
warrants
N/A and
14.9W
$35
The five-year, 5.5% notes are convertible into stock
at $1.295 per share; the deal also included five-year
warrants exercisable for 14.9M shares at an initial
price of $1.36 per share; Wells Fargo Securities was
lead placement agent; C.E. Unterberg, Towbin and
Trout Capital LLC were co-agents (3/15)
Life Medical
Sciences Inc.
(OTC BB:CHAI)
Warrants
exercise
6.6S
$0.8
The warrants, issued in a private placement in
Europe in March 2003, were exercised at $0.12
each (3/31)
Medical
Private
Discoveries Inc. placement of
(OTC BB:MLSC)
securities
ND
$3
M.A.G. Capital LLC provided MDI with $3M for the
acquisition of the German firm Savetherapeutics
AG; financing terms were not disclosed (3/16)
MorphoSys
AG (Germany;
FSE:MOR)
0.49S
€17.4
($23.1)
Shares were sold at €35.50 each; WestLB AG was
the sole manager for the deal (3/16)
Private
placement of
stock
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
63
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
NeoRx Corp.
(NERX)
Private
placement of
stock and
warrants
3.32S and
1.328W
$4.1
The shares were sold at $1.25 each, and the fiveyear warrants are exercisable at $2 per share;
Rodman & Renshaw LLC was placement agent
(3/4)
Neurologix
Inc. (OTC BB:
NRGX)
Private
placement of
stock and
warrants
0.539S and
0.135W
$0.7
The shares were sold at $1.30 each and the fiveyear warrants are exercisable at $1.625 per share;
it was a follow-on deal to $2.46M in financings in
January under the same terms (3/4)
OxiGene Inc.
(OXGN)
Private
placement of
stock
3.336S
$15
The shares were sold from a shelf registration to
institutional investors at $4.50 each; Legg Mason
Wood Walker Inc. was lead placement, with Lazard
Freres & Co. LLC co-placement agent (3/4)
Plethora
Solutions
Holdings plc
(UK; AIM:PLE)
Stock sale
7.4S
£10
($18.7)
The company, formerly named MedPharma plc,
raised £10 as it gained a listing on the Alternative
Investment Market, selling shares at 135 pence
each and giving it a £30M market cap (3/24)
Pluristem
Life Systems
Inc. (Israel;
OTC BB:PLRS)
Private
placement of
stock and
warrants
ND
$2.44
Pluristem completed a $3.2M interim financing;
$0.76M of the total was disclosed in January;
details on the financing were not disclosed (3/7)
Point
Therapeutics
Inc. (POTP)
Private
placement of
stock
3.65S
$16.43
The shares were sold from a shelf registration at
$4.50 each in a direct offering; SG Cowen & Co. LLC
was lead agent and RBC Capital Markets was coagent for the offering (3/1)
Proximagen
Neurosciences
plc (UK; AIM:PRX)
Private
placement of
stock
9.12S
£13.5
($25.4)
Proximagen gained a listing on the AIM with the
financing, and has a market capitalization of £29.7;
KBC Peel Hunt Ltd. was adviser and broker in the
deal (3/31)
Sinovac
Warrants
Biotech Ltd.
exercise
(China; AMEX:SVA)
ND
$3.4
Investors in a February 2004 financing exercised
warrants at $1.70 per share; the company extended
the exercise period until April 30 (3/1)
VaxGen Inc.
(Pink Sheets:
VXGN)
Private
placement of
convertible
notes
N/A
$31.5
The 5.5% notes due 2010 initially are convertible
into stock at $14.76 per share (3/31)
V.I.
Technologies
Inc. (VITX)
Private
placement of
stock and
warrants
100S and
45W
$20
The deal was made concurrent with the closing of
the merger with Panacos Pharmaceuticals Inc.; the
five-year warrants are exercisable at $0.24 per
share; SG Cowen & Co. LLC was lead placement
agent and Legg Mason Wood Walker was co-agent
(2/1 1)
64
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Viventia
Biotech Inc.
(Canada; TSE:VBI)
Bridge
loans
N/A
C$2
($1.64)
Viventia Chairman Leslie Dan provided loans of
C$0.5M and C$1.5M that carry a 4.5% annual interest rate; the board also authorized an additional
bridge loan of C$42.6M from Dan (3/23)
Acadia
Private
Pharmaceuticals placement of
Inc. (ACAD)
stock and
warrants
5.3S and
1.3W
$36
New and existing institutional investors are
purchasing shares at about $6.82 each; the warrants are exercisable at $8.148 per share (4/15)
Access
Private
Pharmaceuticals placement of
Inc. (AMEX:AKC)
convertible
notes
N/A
$2.6
The debentures are convertible into common stock
at $4 per share; separately, Cornell Capital committed to provide up to $15M that Access can draw
down through stock sales for two years (4/4)
Advancis
Pharmaceutical
Corp. (AVNC)
6.8S and
2.4W
$27.25
The shares were priced at $3.98 each; the five-year
warrants are exercisable at $4.78 per share; the
financing syndicate included Omega Fund,
HealthCare Ventures and Rho Ventures, which
together purchased 5.8M shares (4/26)
Avanir
Private
Pharmaceuticals placement of
Inc. (AMEX:AVN)
stock
7.77S
$17.1
Avanir sold the Class A shares from a shelf registration at $2.20 each; CIBC World Markets Corp.
was placement agent and Leerink Swann & Co.
was co-placement agent (4/6)
AVAX
Private
Technologies
placement of
Inc. (OTC BB:AVXT) stock and
warrants
25.24S and
7.57W
$8.58
The shares were sold at $0.34 each; half the warrants are convertible into stock at $0.41 per share
and half at $0.48; investors included Credit Suisse
Equity Global Biotech Fund, BSI – New Biomedical
Frontier Fund and JFE Hottinger & Co.; Privateq
Advisors acted as an adviser in the deal (4/6)
Biotech
Holdings Ltd.
(Canada; OTC BB:
BIOHF)
Private
placement of
stock and
warrants
2.02S and
2.02W
$0.5
Pierpoint Investissements SA is purchasing 1.01M
shares at $0.2475 each, and another 1.01M shares
from the company’s president, who in turn will
invest that $0.25M in the company; the warrants
are exercisable at $0.33 per share (4/12)
Emisphere
Technologies
Inc. (EMIS)
Private
placement of
stock and
warrants
4S and
1.5W
$15.74
Emisphere sold the shares from a shelf registration;
the warrants are exercisable at $4 per share;
Harris Nesbitt Corp. was placement agent (4/1)
N/A
$4.5
Xmark Funds and affiliates are providing the twoyear, 5% loan; they also got warrants to purchase 2M
shares of Genaissance stock at $2.25 per share (4/22)
APRIL
Private
placement of
stock and
warrrants
Genaissance
Private loan
Pharmaceuticals and warrants
Inc. (GNSC)
placement
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
65
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Geron Corp.
(GERN)
Private
placement of
stock and
warrants
0.741S and
0.37W
$4
Geron sold the shares from a shelf registration at
$5.40 each, along with warrants to purchase
370,000 shares at a premium; the deal was made
with investors from Hong Kong (4/25)
Hana
Biosciences
Inc. (OTC BB:
HNAB)
Private
placement of
stock and
warrants
3.78S and
1.13W
$4.83
Investors included Pogue Capital Management,
Xmark Capital Partners, Mosiax Ventures, Atlas
Equity, Coqui Capital and Emerging Technology
Partners; Griffin Securities Inc. was lead placement
agent (4/26)
Immunomedics
Inc. (IMMU)
Private
placement of
convertible
notes and
warrants
N/A and
ND
$37.68
The 5% convertible notes due 2008 initially are
convertible into common stock at $2.62 per share;
the three-year warrants are exercisable at $2.98
per share; investors have a 120-day option to buy
up to 20% more of the notes and warrants; Lazard
Freres & Co. LLC was lead placement agent; C.E.
Unterberg, Towbin was co-placement agent (4/27)
Lorus
Therapeutics
Inc. (Canada;
TSE:LOR)
Private
placement of
convertible
notes
N/A
C$5
($4)
TEMIC made a C$5M investment in the third and
final tranche of a C$15M deal; the notes are convertible into common stock at C$1 per share (4/18)
Mologen AG
(Germany; FSE:
MGNG)
Private
placement of
stock
0.6S
€2.19
($2.8)
The shares were sold at €3.65 each to institutional
investors from German-speaking countries (4/22)
Nabi BioPrivate
pharmaceuticals placement of
(NABI)
convertible
notes
N/A
$100
The 2.875% senior notes due 2025 are convertible
into common stock at $14.32 per share, a 30% premium; purchasers have an option to buy another
$20M in notes (4/14)
Protein
Polymer
Technologies
Inc. (OTC BB:PPTI)
Private
placement of
stock and
warrants
23.59S and
1 1.79W
$7.75
The stock was priced at $0.33 per share; the fouryear warrants are exercisable at $0.50 per share;
Luther Capital Management LLC and Palladium
Capital Advisors LLC assisted in the deal, which
was made in two closings (4/1 and 4/18)
Proteome
Sciences plc
(UK; LSE:PRM)
Private
placement of
stock
8.09S
£4.7
($8.8)
Shares representing 6.6% of the company were
placed with an institutional investor at 59.5 pence
each (4/1)
Provectus
Pharmaceuticals
Inc. (OTC BB:
PVCT)
Private
placement of
convertible
debentures
and warrants
N/A and
4.2W
$3.15
Investors led by Network 1 Financial Securities Inc.
and DC Opportunity Fund Ltd. can convert the
debt into stock at $0.75 per share; they also got
five-year warrants to buy 4.2M shares at $1.06 per
share (4/3)
66
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Solexa Inc.
(SLXA)
Private
placement of
stock and
warrants
2.1S and
1.1W
$8.4
A second closing on the same terms bringing the
total financing to $32.5M is expected later in 2005;
the shares were sold at $4 each and the warrants
are exercisable at $5 per share; the financing was
led by ValueAct Capital (4/22)
Unigene
Laboratories
Inc. (OTC BB:
UGNE)
Private
placement of
stock and
warrants
2.123S and
1.062W
$3
Fusion Capital Fund II LLC purchased the shares
and the five-year warrants exercisable at $1.77 per
share; following the deal Unigene terminated the
stock purchase agreement with Fusion (4/13)
ViroPharma
Inc. (VPHM)
Private
placement of
convertible
notes
N/A
$12.5
Investors in an October 2004 deal exercised their
option to buy another $12.5M in 6% notes due in
October 2009; they are convertible into common
stock at $2.50 per share; the sale totaled $75M (4/6)
Alizyme plc
(UK; LSE:AZM)
Private
placement and
open offer
32.8S
£32.8
($56)
The open offer consisted of 30.5 shares; Quintiles
Transnational Corp. purchased 2.3M shares in a
private placement (5/16)
Altachem
Pharma Ltd.
(Canada;
CDNX:AAF)
Private
placement of
stock and
warrants
4.2S and
2.1W
C$1.05
($0.84)
Altachem closed the second tranche of a financing
that totaled C$1.49M; the shares sold at C$0.25
each, and the one-year warrants are exercisable at
C$0.45 per share (5/10)
Amarin Corp.
plc (UK; AMRN)
Private
placement of
stock
13.7S
$17.8
Amarin sold American depository shares in a
registered direct offering; 3.5M of the shares were
purchased by company directors and officers;
Leerink Swann & Co. was placement agent (5/25)
AspenBio Inc.
(OTC BB:APNB)
Private
placement of
stock and
warrants
3.51S and
3.51W
$3.07
Warrants issued in the deal are exercisable for five
years at $1.35 per share (5/6)
Australian
Rights issue
Cancer
Technology Ltd.
(Australia; ASX:ACU)
43.8S
A$5.7
($4.3)
The shares were sold at A$0.13 each in a rights
issue that was fully underwritten by BBY Ltd.;
the company also changed its name to Avantogen
Ltd. (5/17)
Cellegy
Private
Pharmaceuticals placement of
Inc. (CLGY)
stock and
warrants
3.636S and
0.545W
$6
SJ Investments LLC, Tisch Family Interests, Kingsway LLC, Greenway Capital and Kingsbridge
Capital Ltd. invested in the financing; the shares
were sold at $1.65 each; half the five-year warrants
are exercisable at $2.25 per share, and half at $2.50;
C.E. Unterberg, Towbin was placement agent (5/13)
MAY
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
67
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Corgenix
Medical Corp.
(OTC BB:CONX)
Private
placement of
convertible
notes and
warrants
N/A and
7.7W
$3.42
The convertible notes are due in 2008; investors
included Truk International Fund LP, Truk Opportunity Fund LLC and DCOFI Master LDC; they have a
nine-month option to invest a further $1.5M; the
warrants are convertible into stock at $0.25 per
share (5/23)
Dyax Corp.
(DYAX)
Private
placement of
stock
6.315S
$25.26
The shares were sold from a shelf registration at
$4 each; Deutsche Bank Securities Inc. and SG
Cowen & Co. LLC were placement agents (5/19)
GlycoGenesys
Inc. (GLGS)
Private
N/A
placement of
convertible stock
and warrants
$4.5
The $4.5M is the second tranche of a financing; the
first $2M was raised in March; the company sold
4,500 shares of convertible, redeemable Series D
preferred stock, currently convertible into 4.5M
shares of common stock, and warrants to purchase
4.5M shares at $1.23 each (5/23)
Hybridon
Inc. (AMEX:HBY)
Private
placement of
convertible
notes
N/A
$5
The 4% notes due 2008 initially are convertible
into common stock at $0.89 per share (5/20)
InSite Vision
Inc. (AMEX:ISV)
Private
placement of
stock and
warrants
16.4S and
4.9W
$9
The shares were sold at $0.55 each; the five-year
warrants are exercisable at $0.6325 per share;
Paramount BioCapital Inc. was placement agent
(5/9)
MacroPore
Biosurgery
Inc. (FSE:XMP)
Private
placement of
stock and
warrants
1.1S and
2.2W
$1 1
The shares were sold at $10 each; the investor
has an option to purchase 2.2M shares at $10 each
until Dec. 31, 2006 (5/2)
Millenia Hope
Inc. (OTC BB:
MLHP)
Private
placement of
stock
ND
$0.6
The investment completes the first stage of an
anticipated much larger private placement being
arranged by Private Consulting Group Inc. (5/10)
Miravant
Medical Technologies Inc.
(OTC BB:MRVT)
Private
placement of
stock and
warrants
ND
$8
Scorpion Capital Partners LP led the financing,
which entailed the sale of preferred stock convertible into common stock at $1 per share; the same
number of warrants also are convertible at $1 per
share (5/4)
NexMed Inc.
(NEXM)
Private
N/A and
placement of
1.19W
convertible stock
and warrants
$4.45
445 shares of preferred stock were sold at $10,000
per share and initially are convertible into common
stock at $1.36 per share; NexMed has certain
quarterly rights to convert the stock at a 4.5% discount to the price at the time; the four-year warrants are exercisable at $1.43 per share (5/18)
68
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
NovaDel
Pharma Inc.
(AMEX:NVD)
Private
placement of
stock and
warrants
6.7S and
2.4W
$7
The financing was led by ProQuest Investments
and included the Caisse de depot et placement du
Quebec and others; the five-year warrants are
exercisable at $1.30 per share (5/27)
Oragenics Inc.
(AMEX:ONI)
Private
placement of
stock
N/A
$9
Fusion Capital Fund II LLC agreed to purchase up
to $9M in stock over 30 months, at times and
amounts to be determined by Oragenics; the comany has an option for another $9M investment
following completion of the initial funding (5/24)
Phytopharm
plc (UK; LSE:PYM)
Private
placement and
open offer
8.08S
£10.1
($18.9)
Canaccord Capital Ltd. underwrote the placement
and open offer; shares were issued at £1.25 each
(5/4)
Protalex
Inc. (OTC BB:
PRTX)
Private
placement of
stock and
warrants
2.6S and
0.787W
$5.1
The shares were placed at $1.95 each; terms of the
warrants were not disclosed; the financing was led
by vSpring Capital (5/31)
Senesco
Technologies
Inc. (AMEX:SNT)
Private
placement of
stock and
warrants
1.6S and
0.798W
$3.37
Warrants issued in the deal are exercisable at
$3.38 per share; Oppenheimer & Co. Inc. was placement agent (5/4)
Acura
Bridge loan
Pharmaceuticals
Inc. (OTC BB:ACUR)
N/A
$1
The one-year, 10% loan was provided by Essex
Woodlands Health Ventures V LP and funds from
Care Capital and Galen Partners (6/22)
Advanced
Magnetics
Inc. (AMEX:AVM)
Private
placement of
stock and
warrants
1.8S and
0.36W
$17.1
Shares in the registered direct sale were priced at
$9.50 each; warrants are exercisable at $13 per share;
investing were affiliates of Great Point Partners LLC
and Vivo Ventures LLC, and a company director;
the deal closed in two tranches (6/1 and 6/2)
Aeolus
Private
Pharmaceuticals placement of
Inc. (OTC BB:AOLS) convertible
notes and
warrants
N/A and
ND
$2.5
The 6% notes are convertible into shares at $1 per
share, as are the five-year warrants that accompanied them; the company has an option to pay the
dividend in cash or shares; investors included
Xmark Opportunity Funds and Biotechnology Value
Fund LP (6/27)
Auxilium
Private
Pharmaceuticals placement of
Inc. (AUXL)
stock and
warrants
8.2S and
2.06W
$40.4
The shares were sold at about $4.90 each, and the
warrants are exercisable at $5.84 per share;
Deutsche Bank Securities Inc. was lead placement
agent (6/29)
JUNE
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
69
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Bavarian
Nordic A/S
(Denmark; CSE:
BAVA)
Rights issue
1.16S
DKK416.7
($67.5)
Among those participating in the fully subscribed
rights issue were existing shareholders A.J.
Aamund A/S and LD Pensions (6/23)
BioDelivery
Sciences
International
Inc. (BDSI)
Convertible
debt deal
N/A
$2.5
Laurus Master Fund Ltd., in a deal very similar to
one completed in February with BDSI, bought a
three-year, prime-plus-2% note convertible into
common stock at $3.10 per share; Laurus also got
warrants to purchase up to 483,871 shares at
$3.88 per share (6/3)
Bionomics Ltd.
(Australia;
ASX:BNO)
Private
placement of
stock
44.4S
A$6
($4.6)
Each share includes two-thirds of an option
on an additional share at A$0.22 per full share;
Intersuisse Corporate Pty. Ltd. managed the deal
(6/27)
BioTie
Therapies Oyj
(Finland; HSE:
BTH1V)
Private
placement of
stock
8.77S
€6.6
($8)
Among investors subscribing in the stock sale
were Juha Jouhki, Thominvest Oy, Dreadnought
Finance Oy and BioFund Ventures III (6/22)
Cephalon
Inc. (CEPH)
Private
placement of
convertible
notes
N/A
$800
The 2% senior subordinated notes due 2015 are
convertible at $46.70 per common share; the total
does not include $120M in notes purchased per the
underwriters’ overallotment option on July 1; the
notes were sold from a shelf registration (6/2)
CombiMatrix
Group
(CBMX)
Private
placement of
stock
1.3S
$2.9
The stock was sold from a shelf registration in
a registered direct offering at $2.25 per share
(6/30)
Corautus
Genetics Inc.
(VEGF)
Private
placement of
stock and
loan agreement
4.7S
$23
Boston Scientific Corp. and a group of private
investors are purchasing 4.7M shares for $18M;
separately, an amended loan deal with Boston
Scientific makes $5M available to Corautus (6/28)
Critical
Therapeutics
Inc. (CRTX)
Private
placement of
stock and
warrants
9.95S and
3.48W
$54.5
Institutional and other accredited investors bought
the shares at $5.48 each; the five-year warrants are
exercisable at $6.58 per share (6/7)
Crucell NV
(the Netherlands;
CRXL)
Private
placement of
stock
3.6S
€52.2
($64)
Crucell sold the shares at €14.50 each in a private
placement; Fortis Bank was the sole manager in the
deal (5/10)
70
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
CV
Therapeutics
Inc. (CVTX)
Public offering
of convertible
notes
N/A
$130
The 3.25% convertible senior subordinated notes
due 2013 were sold in a public offering; they are
convertible into stock at about $27 per share;
underwriters were Lehman Brothers, Merrill Lynch
& Co., Citigroup and Deutsche Bank Securities; the
total does not include the July 1 purchase of $19.5M
in notes per the underwriters’ overallotment
option (6/29)
Evotec AG
(Germany;
FSE:EVT)
Private
placement of
stock
10.46S
€28.4
($34.5)
Evotec sold the shares in a fully subscribed placement at €2.72 per share (6/24)
Exelixis Inc.
(ELEX)
Funding
vehicle
N/A
$40
Symphony Capital Partners provided $40M for further development of XL647, XL999 and XL784;
it formed Symphony Evolution Inc., which has an
option to call an additional $20M to $40M within
one year (6/13)
Galapagos NV
(Belgium;
Euronext:GLPG)
Warrants
exercise
0.082S
€0.4
($0.5)
Galapagos placed 82,562 shares in connection
with the exercise of warrants, which closed at the
same time as it completed its €22M IPO (6/3)
Generex
Biotechnology
Corp. (Canada;
GNBT)
Private
placement of
convertible
notes and
warrants
N/A and
2.44W
$2
Holders of 6%, 15-month notes purchased in 2004
bought another $2M in notes; they initially are
convertible into stock at $0.60 per share; investors
also got five-year warrants to purchase 2.44M
shares at $0.82 each (6/16)
Helix
BioMedix Inc.
(OTC BB:HXBM)
Warrants
exchange
4.95S
$1.5
Warrants for the purchase of about 9.95M shares
were properly tendered in the offer, which
expired on May 31 (6/1)
Hollis-Eden
Private
Pharmaceuticals placement of
Inc. (HEPH)
stock and
warrants
1.33S and
0.267W
$10
A single institutional investor purchased the
shares at $7.50 each; the four-year warrants are
exercisable at $10 per share; Rodman & Renshaw
LLC was placement agent (6/1)
Immunicon
Corp. (IMMC)
Private
placement of
stock
4.138S
$19.7
The shares were sold from a shelf registration at
$4.75 each; Legg Mason Wood Walker Inc. was lead
placement agent; First Albany Capital Inc. was coplacement agent (6/30)
Invitrogen
Corp. (IVGN)
Private
placement of
convertible
notes
N/A
$350
The 3.25% senior convertible notes due 2025 were
sold to institutional buyers; the total includes their
purchase of $25M in notes per their option; the
notes are convertible in some circumstances into cash
or stock at an initial price of $98.25 per share (6/14)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
71
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Lev
Private
Pharmaceuticals placement of
Inc. (OTC BB:LEVP) stock and
warrants
5.04S and
2.52W
$5.04
The securities were sold as units priced at $50,000
each; the five-year warrants are exercisable at
$1.35 per share; placement agent Laidlaw & Co.
(UK) Ltd. also received 681,044 warrants exercisable at $1.35 per share (6/6)
Peregrine
Private
Pharmaceuticals placement of
Inc. (PPHM)
stock
8S
$6.72
The shares were sold from a shelf registration to a
single investor (6/23)
PharmaFrontiers Corp.
(OTC BB:PFTR)
Private
placement of
stock and
warrants
3.387S and
9.3W
$5.08
Investors purchased about 3.387M units at $1.50
per unit; each unit comprises one share of
common stock and three types of warrants to
purchase 2.75 shares at undisclosed prices (6/20)
Procyon
Biopharma
Inc. (Canada;
TSE:PBP)
Private
placement
of convertible
notes
N/A
C$3.5
($2.8)
The five-year, 7% notes are convertible into stock
at $0.45 per share; investors also got warrants
equal to 50% of the number of shares that could be
issued; investors included Desjardins Venture
Capital, Fonds Bio-Innovation and Societe Innovatech Quebec et Chaudieres-Appalaches; Dundee
Securities Corp. was placement agent (6/30)
RegeneRx BioPrivate
pharmaceuticals placement of
Inc. (AMEX:RGN) stock
1.538S
$5
Affiliates of Sigma-Tau Group purchased the shares
at $3.25; Sigma-Tau owned about 30% of RegeneRx
before the deal (6/23)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
Warrants
exercise
ND
C$3.8
($3.1)
The warrants were issued in two private placements in 2003; any remaining warrants relating to
those financings have now expired (6/29)
Tripep AB
(Sweden; SSE:
TPEP)
Rights issue
and warrants
placement
5.08S and
2.54W
SEK28
($3.6)
Dormant Properties AB underwrote shares not
taken up by existing shareholders and retained its
21% stake; warrants are exercisable at SEK8 and
SEK12 per share (6/17)
Tripep AB
(Sweden; SSE:
TPEP)
Private
placement of
stock
0.256S
SEK2.18
($0.29)
A private investor purchased the shares at SEK8.50
each, and agreed to exercise all preference rights
on the shares in the upcoming rights issue (6/10)
Valentis Inc.
(VLTS)
Private
placement of
stock and
warrants
1.68S and
0.84W
$4.2
The stock and warrants were sold as a unit at
$2.50 per unit; the five-year warrants are exercisable at $3.51 per share (6/27)
Viventia
Biotech Inc.
(Canada; TSE:VBI)
Bridge loans
N/A
C$4.8
($3.9)
Viventia Chairman Leslie Dan provided loans of
C$1.5M, C$1.5M and C$1.8 that carry a 4.5% annual
interest rate (6/17)
72
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Xechem
Sale of
International
minority
Inc. (OTC BB:XKEM) interest
N/A
$2.3
Xechem sold most of its interest in CepTor Corp.,
which it spun off in February; CepTor purchased
the shares; Xechem still has 500,000 CepTor
shares, or 15% of its original investment (6/29)
Zeltia SA
(Spain; SPE:ZEL)
Private
placement of
stock
10.75S
€65
($78.5)
The shares were sold at €6.05 each; proceeds will
be used to fund work at subsidiary PharmaMar SA;
HSBC Securities was placement agent (6/23)
Active Biotech
AB (Sweden;
SSE:ACTI)
Rights issue
5.62S
SKK169
($21.5)
About 98.5% of the shares offered were subscribed
to based on subscription rights; the shares were
purchased at SEK30 each (7/7)
Adherex
Technologies
Inc. (AMEX:ADH)
Private
placement of
stock and
warrants
30.39S and
9.1W
$8.5
The shares were sold at $0.28 each and the threeyear warrants are exercisable at $0.35 per share;
GlaxoSmithKline plc invested $3M in the deal;
Leerink Swann & Co. and Versant Partners Inc.
were placement agents (7/20)
Adventrx
Private
Pharmaceuticals placement of
Inc. (AMEX:ANX) stock and
warrants
10.81S and
10.81W
$20
Investment funds controlled by Carl Icahn led the
financing, which also included Viking Global
Investors LP; the warrants are exercisable at $2.26
per share; CIBC World Markets was lead placement
agent and RBC Capital Markets was co-agent (7/22)
AspenBio Inc.
(OTC BB:APNB)
Private
placement of
stock and
warrants
0.56S and
0.56W
$0.49
The deal was the second closing of a financing that
totaled about $3.6M; the five-year warrants are
exercisable at $1.35 per share; Westminster Securities Corp. was placement agent (7/12)
BioDelivery
Sciences
International
Inc. (BDSI)
Funding
agreement
N/A
$7
Clinical Development Capital LLC will provide up
to $7M in funding for Phase III trials of BDSI’s BEMA
Fentanyl product in exchange for a milestone payment and royalties on product sales (7/18)
Cel-Sci Corp.
(AMEX:CVM)
Private
placement of
stock and
warrants
1.25S and
0.375W
$0.5
A single investor purchased the stock at $0.40 per
share; warrant terms were not disclosed (7/19)
Cephalon
Inc. (CEPH)
Private
placement of
convertible
notes
N/A
$120
Underwriters exercised their option on another
$120M in notes, bringing gross proceeds from the
sale to $920M; the 2% notes due 2015 are convertible at $46.70 per common share; the notes
were sold from a shelf registration (7/1)
JULY
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
73
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
CV
Therapeutics
Inc. (CVTX)
Public offering
of convertible
notes
N/A
$19.5
Underwriters exercised their option on another
$19.5M in notes, bringing total proceeds from the
public offering to $149.5M; the 3.25% notes due
2013 are convertible into stock at about $27 per
share; underwriters were Lehman Brothers, Merrill
Lynch & Co., Citigroup and Deutsche Bank
Securities (7/1)
Cytogen
Corp. (CYTO)
Private
placement of
stock and
warrants
3.1S and
0.776W
$14
Shares in the registered direct offering were sold
at $4.50 each; the warrants are exercisable at $6
per share; the deal was made from an existing
shelf registration (7/19)
GeneMedix
Private
plc (UK; LSE:GMX) placement of
stock and
warrants
4.31S and
2.16W
£0.281
($0.5)
The funding is the second $0.5M taken from a
potential total of $10M over three years from funds
advised by Southridge Management LLP; the threeyear warrants are exercisable at 7.25 pence per
share (7/14)
Genentech
Inc. (NYSE:DNA)
Private
placement of
notes
N/A
$2B
Genentech priced $500M of 4.4% notes due 2010,
$1B of 4.75% notes due 2015, and $500M of 5.25%
notes due 2035 (7/13)
Isotechnika
Inc. (Canada;
TSE:ISA)
Bought-deal
financing
8.9S
C$20
($16.6)
A syndicate of underwriters led by GMP Securities
Ltd. and including Canaccord Capital Corp.,
National Bank Financial Inc. and TD Securities Inc.
purchased the shares at C$2.25 each; the totals
include the exercise of their overallotment option
(7/12)
Labopharm
Inc. (Canada;
TSE:DDS)
Debt
financing
N/A
$10
Hercules Technology Growth Capital Inc. provided
an 1 1.95% loan repayable on July 1, 2008; Hercules
also got five-year warrants to purchase 543,104
Labopharm shares at $2.71 each (7/1 1)
Neurochem
Inc. (Canada;
NRMX)
Warrants
exercise
2.8S
C$8.8
($7.1)
Picchio Pharma Inc. exercised a warrant from a July
2002 private placement to purchase 2.8M shares;
Picchio Pharma now owns about 26.4% of Neurochem (7/25)
Novavax Inc.
(NVAX)
Private
placement of
stock
4S
$4
The shares were sold from a shelf registration at $1
each; Lane Capital Markets LLC was placement
agent (7/5)
2.47S
$8.47
The shares were sold at $3.43 each, a 15% discount
to a five-day average; Jefferies & Co. Inc. was the
placement agent (7/28)
Pharmacopeia
Private
Drug Discovery placement of
Inc. (PCOP)
stock
74
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
ReGen
Biologics Inc.
(OTC BB: RGBI)
Private
placement of
stock and
warrants
13.9S and
3.48W
$1 1.8
The shares were sold at $0.85 each; the five-year
warrants are exercisable at $1 per share (7/15)
Sirna
Therapeutics
Inc. (RNAI)
Private
placement of
stock and
warrants
17.5S and
6.3W
$28
The shares were sold at $1.60 each and the warrants
are exercisable at $1.92 per share until July 2010;
investors included Sprout Group, Oxford Bioscience Partners and Venrock Associates; Thomas
Weisel Partners was placement agent, and Leerink
Swann and Brean Murray were co-advisers (7/7)
Solexa
Inc. (SLXA)
Private
placement of
stock and
warrants
6S and
3W
$24
The financing was the second closing of a $32.5M
round; the first part closed in April; the shares were
sold at $4 each and the warrants are exercisable at
$5 each; investors included Abingworth Management Ltd., Amadeus Capital Partners Ltd., Oxford
Bioscience Partners and SV Life Sciences; SG Cowen
& Co. LLC was placement agent (7/12)
SR Pharma
plc (UK; AIM:SRA)
Private
placement of
stock
36.1S
£8.3
($14.6)
Separately, Introgen Therapeutics Inc. invested
$3M in SR Pharma as part of a collaboration;
Mulier Capital Ltd. was financial adviser for the
placement (7/28)
Stem Cells
Sciences plc
(UK; AIM:STEM)
Private
placement of
stock
6.2S
£6
($10.5)
Stem Cells gained a public listing on the Alternative
Investment Market in the financing; Collins Stewart
plc brokered the deal (7/14)
Synthetic
Blood
International
Inc. (OTC BB:SYBD)
Private
N/A and
placement of
8.4W
convertible debt
and warrants
$1.85
Terms of the convertible debentures were not disclosed; the three-year warrants are exercisable at
$0.242 per share; the investment was led by
Palisades Master Fund and arranged by HPC
Capital Management LLC (7/13)
Transgene SA
(France; TRGNY)
Private
placement of
stock and
warrants
4.66S and
2.33W
€34.9
($42.2)
Most of the shares were placed in Europe; the oneyear warrants are exercisable at €8.05 per share
(7/1 1)
Xenomics Inc.
(OTC BB:XNOM)
Private
placement of
convertible
stock and
warrants
N/A and
0.387W
$2.77
The Series A convertible stock is convertible into
common stock at $2.15 per share; the five-year
warrants are exercisable at $3.25 per share (7/15)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
75
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Allon
Therapeutics
Inc. (Canada;
CDNX:NPC)
Private
placement of
stock
6S
C$6.3
($5.3)
The shares were sold at C$1.05 each; as part of the
deal about 2.5M previously issued warrants were
redeemed for C$0.05 each (8/29)
AMDL Inc.
(AMEX:ADL)
Private
placement of
stock and
warrants
3.164S and
1.9W
$1
The financing had two closings; shares were sold at
$0.32 and $0.315 each; the three-year warrants are
exercisable at $0.49 and $0.48 per share; Galileo
Asset Management SA and Havkit Corp. were
placement agents (8/18 and 8/30)
Astralis Ltd.
(OTC BB:ASTR)
Private
placement of
stock and
warrants
18.18S and
ND
$2
Blue Cedar Ltd. purchased the shares at $0.1 1 each;
warrant terms were not disclosed; a second closing in the round was expected in September (8/19)
Biotech
Holdings Ltd.
(Canada; OTC BB:
BIOHF)
Private
placement of
stock
0.419S and
0.419W
C$0.12
($0.1)
A company insider purchased the shares at C$0.29
each; the warrants are exercisable at C$0.39 each
(8/10)
Boston Life
Sciences Inc.
(BLSI)
Private
placement of
stock
6S
$12.78
The shares were sold at $2.13 each; Robert L.
Gipson was expected to own 19.9% of the company
following the stock sale (8/30)
Callisto
Private
Pharmaceuticals placement of
Inc. (AMEX:KAL)
stock
1.87S
$1.81
Existing shareholders purchased the stock at
$0.97 per share (8/23)
Coley
Pharmaceutical
Group Inc.
(COLY)
Private
placement
of stock
0.625S
$10
Pfizer Inc. purchased the shares privately in a
deal concurrent with the company’s initial public
offering; the shares were purchased at the $16 IPO
price (8/10)
Genta Inc.
(GNTA)
Private
placement of
stock
19.1S
$17.5
The shares were sold from an existing registration
statement; Piper Jaffray & Co. was placement agent
(8/8)
GTC
Private
Biotherapeutics placement of
Inc. (GTCB)
stock and
warrants
4.57S and
1.8W
$8
The shares were sold at $1.75 each; the five-year
warrants are exercisable at $2.68 per share;
Rodman & Renshaw LLC was placement agent
(8/8)
Human Genome Private
Sciences Inc.
placement of
(HGSI)
convertible
notes
N/A
$230
The 2.25% subordinated notes due 20 1 2 are
convertible into common stock at $17.78 per share
(8/4)
AUGUST
76
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
International Medical
Innovations
Inc. (Canada;
TSE:IMI)
Bought-deal
placement of
units
N/A
C$10
($8.4)
Each unit comprised a $1,000 principal
amount 7% convertible debentures and 157 common-share purchase warrants; each four-year
warrant is convertible into common stock
at $2.85 per share (8/18)
Inhibitex Inc.
(INHX)
Private
placement of
stock
5S
$41.25
Institutional investors purchased the shares at
$8.25 each; Lazard Capital Markets LLC was placement agent (8/18)
InNexus
Biotechnology
Inc. (Canada;
OTC BB:ISXBF)
Private
placement of
securities
N/A
$3.05
The company raised $2.5M through the sale of 8%
to 12% notes convertible into 10M shares and 10M
$0.25 warrants; it also got a $0.25M bridge loan,
and it raised $0.3M through the placement of 1.2M
shares and 1.2M $0.30 warrants (8/8)
Isis
Private
Pharmaceuticals placement of
Inc. (ISIS)
stock and
warrants
12S and
3W
$51
The shares were sold at $4.25 each, and the warrants are exercisable at $5.23 per share; Needham
& Co. and Fortis Securities LLC were placement
agents (8/22)
Kamada Ltd.
Initial offering
(Israel; TEL:KMDA) of stock
1.875S
NIS30
($6.7)
Kamada completed an initial public offering on the
Tel Aviv Stock Exchange; the offering was underwritten by Poalim IBI, Clal Finance Underwriting,
Altshouler-Shacham and Rosario Capital (8/17)
Large Scale
Biology Corp.
(LSBC)
Bridge
loan
N/A
$1
Two company officials provided $1M in a term-loan
deal, which also included the issuance of warrants;
separately, it entered a deal under which it can sell
$15M in stock to Brittany Capital over three years
(8/8)
Manhattan
Pharmaceuticals
Inc. (OTC BB:
MHTT)
Private
placement of
stock and
warrants
10.76S and
2.15W
$1 1.9
The shares were sold at $1.1 1 each; the five-year
warrants are exercisable at $1.44 per share; Paramount BioCapital Inc. was placement agent (8/30)
MannKind
Corp. (MNKD)
Private
placement of
stock and
warrants
17.1S and
3.4W
$175
Half the money was invested by institutional investors and half by MannKind Chairman and CEO
Alfred Mann; the warrants are exercisable at
$12.228 per share; Wachovia Securities and Leerink
Swann & Co. were placement agents (8/3)
Medicure Inc.
(Canada; TSE:
MPH)
Private
placement of
stock and
warrants
5.21S and
2.6W
$3.85
The shares were sold at $0.74 each; the five-year
warrants are exercisable at $0.97 per share;
Satellite Asset Management LP led the placement;
Needham & Co. was placement agent (8/22)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
77
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
MIV
Therapeutics
Inc. (Canada;
OTC BB:MIVT)
Private
placement of
securities
ND
$4.14
Details on the non-brokered private placement
were not disclosed (8/22)
Nektar
Therapeutics
(NKTR)
Private
placement of
stock and
warrants
1.436S and
0.45W
$24
The shares were sold from a shelf registration at
$16.71 to Mainfield Enterprises Inc., which also got
a 15-month option to purchase additional shares
(8/16)
Nutra Pharma
Corp. (OTC BB:
NPHC)
Private
placement of
stock and
warrants
24S and
6W
$9.6
SBI Brightline XII LLC is obligated to buy, upon
Nutra Pharma’s election, up to 24M shares of common stock; the warrants are exercisable from
$0.30 to $0.50 per share (8/18)
Peplin Ltd.
(Australia; ASX:
PEP)
Private
placement of
stock
1 1.4S
A$4
($3.1)
Shares in the placement were sold at A$0.35 each;
shareholders also received the right to purchase
shares at that price through Aug. 26 (8/2)
pSivida Ltd.
(Australia; PSDV)
Private
placement of
stock and
warrants
6.5S and
0.65W
$4.23
The company sold 650,000 American depository
receipts at $6.50 each; each ADR represents 10
ordinary shares; the 3-year warrants are exercisable at $12.50 per ADR (8/24)
Regeneration
Technologies
Inc. (RTIX)
Private
placement of
stock
2.8S
$23.9
The shares were sold at $8.55 each; Pacific Growth
Equities LLC was placement agent (8/29)
ReNeuron
Group plc
(UK; AIM:RENE)
Private
placement of
stock and
warrants
38S and
19W
£9.5
($17.2)
ReNeuron gained a listing on AIM along with
the placement in the UK and U.S.; shares were sold
at 25 pence each; the warrants are exercisable at
30 pence each; Collins Stewart and Harris Nesbitt
Corp. were agents in the deal (8/5)
Rexahn
Pharmaceuticals
Inc. (OTC BB:
RXHN)
Private
N/A and
placement of
4.175S
convertible
notes and stock
$9.65
The three-year notes are convertible into common
stock at $2 per share; the shares were sold at $2
each (8/1 1)
Santarus Inc.
(SNTS)
Private
placement of
stock
$31.2
The shares were sold from a shelf registration at
$4.25 each; SG Cowen & Co. LLC was lead placement agent and RBC Capital Markets Corp. was coplacement agent (8/17)
78
7.35S
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Sonus
Private
Pharmaceuticals placement of
Inc. (SNUS)
stock and
warrants
4.65S and
2.33W
$16.8
Shares were purchased at $3.77 each; for another
$0.125 per underlying share, investors also got
five-year warrants exercisable at $4.15 per share;
investors included Domain Public Equity Partners,
Efficacy Capital, MPM BioEquities, ProMed and
Heights Capital Management; Punk Ziegel & Co.
was placement agent (8/16)
Vaso Active
Private
Pharmaceuticals placement of
Inc. (PK:VAPH)
convertible
notes and
warrants
N/A and
1.3W
$2.5
The $2.5M in notes due May 2007 are convertible
into stock at $0.70 per share; the five-year warrants are exercisable at $0.77 per share; investors
also have a right to purchase another $1.88M in
notes and 974,026 warrants (8/16)
Viventia
Biotech Inc.
(Canada; TSE:VBI)
Bridge loans
N/A
C$3.3
($2.75)
Viventia Chairman Leslie Dan provided loans totaling C$3.3; they carry a 4.5% annual interest rate
(8/12)
Vyteris
Holdings Inc.
(OTC BB:VYHN)
Private
N/A and
placement of
2.08W
convertible notes
and warrants
$10
The three-year, 8% notes are convertible into common stock at $2.40 per share; the warrants are
exercisable at $2.88 per share; investors have an
option to invest another $5M on those terms (8/19)
Xenogen
Corp. (XGEN)
Private
placement of
stock and
warrants
5.155S and
1.55W
$15
The shares were sold at $2.91 each and the warrants are exercisable at $3.29 per share; Thomas
Weisel Partners LLC was placement agent (8/1 1)
Acacia
ResearchCombiMatrix
(CBMX)
Private
placement of
stock and
warrants
6.4S and
1.6W
$10.5
The shares were sold in a registered direct offering
at $1.65 each; the five-year warrants are exercisable at $2.40 per share; Piper Jaffray & Co. was
placement agent (9/16)
Advanced Cell
Technology
Inc. (OTC BB:
ACTC)
Private
placement of
convertible
notes and
warrants
N/A and
4.84W
$17.75M
The three-year notes are convertible into 9.67M
shares of stock at $2.30 per share; the five-year
warrants are exercisable at $2.53 per share; T.R.
Winston & Co. was placement agent (9/16)
Ascentia
Biomedical
Corp. (PK:ASCE)
Private
placement of
convertible
notes
N/A
$1
Winsted Holdings Inc. committed to purchase up
to $1M in a series of convertible notes; terms were
not disclosed (9/14)
Emisphere
Technologies
Inc. (EMIS)
Loan
N/A
$15
The senior secured loan was provided by MHR
Fund Management LLC; the loan may be exchanged
for a note convertible into stock (9/26)
SEPTEMBER
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
79
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Genaera Corp.
(GENR)
Private
placement of
stock and
warrants
1 1.4S and
3.42W
$24.5
The registered stock was purchased at $2.15 per
share; the warrants are exercisable at $3.15 per
share; RBC Capital Markets Corp. was lead placement agent and Fortis Securities LLC was co-agent
(9/12)
GenVec Inc.
(GNVC)
Private
placement of
stock
7.65S
$15.3
Shares in the registered direct offering were sold
at $2 each; SG Cowen & Co. LLC was placement
agent (9/21)
Geron Corp.
(GERN)
Warrant
exercise
2S
$18
Merck & Co. Inc. exercised a warrant to purchase
2M shares of stock at $9 each; the deal was made
concurrent with Geron’s public offering of 6M
shares priced at $9 each (9/16)
Inflazyme
Restructuring
Pharmaceuticals of subsidiary
Inc. (Canada;
TSE:IZP)
N/A
C$3.4
($2.9)
Inflazyme realized C$3.4M from the sale of convertible debentures by the subsidiary; a put agreement to sell its holdings in the subsidiary could
bring Inflazyme another C$2.5M by March 15, 2006
(9/20)
Lipid
Sciences Inc.
(LIPD)
2.43S and
1.94W
$7.2
The shares were sold at $2.98 each; 62.5 of the
warrants are exercisable at $3.73 per share; the
remaining warrants are exercisable for five years
at $4.20 per share; A.G. Edwards was placement
agent (9/29)
Memory
Private
Pharmaceuticals placement of
Corp. (MEMY)
stock and
warrants
16.1S and
5.6W
$30.6
The shares were sold at $1.90 each; the warrants
are exercisable at $2.22 per share (9/21)
Nanogen
Inc. (NGEN)
Private
placement of
stock and
warrants
6.8S and
1W
$20
Institutional investors purchased the shares at
$2.94 each; the five-year warrants are exercisable
at $4 per share; Seven Hills Partners LLC was lead
placement agent; Stonegate Securities Inc. was coplacement agent (9/28)
Nektar
Therapeutics
(NKTR)
Private
placement of
stock
0.455S
$8
Mainfield Enterprises Inc., which invested $24M in
Nektar in August, exercised its option from that
deal to acquire an additional 454,803 shares
(9/8)
Nektar
Therapeutics
(NKTR)
Private
placement of
convertible
notes
N/A
$315
The 3.25 subordinated notes due 2012 are convertible into common stock at $21.52 per share;
totals include the purchase of $40M in notes per
the investors’ option (9/22)
80
Private
placement of
stock and
warrants
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Optigenex Inc.
(OTC BB:OPGX)
Private
placement of
notes and
warrants
N/A and
0.625
$4
The three-year, 8 notes are convertible into stock
at the lower of $3.20 or 40 of a 20-day trading
average; terms of the five-year warrants were not
disclosed (9/7)
Spectrum
Private
Pharmaceuticals placement of
Inc. (SPPI)
stock and
warrants
8S and
4W
$42
The shares were sold from a shelf registration at
$5.25 each; the six-year warrants are exercisable
at $6.62 per share; Rodman and Renshaw LLC was
placement agent (9/15)
Transgenomic
Inc. (TBIO)
Private
placement of
stock and
warrants
15S and
6W
$15.15
Institutional investors led by Lehman Brothers
bought the shares at $1.01 each; the warrants are
exercisable at $1.20 per share (9/23)
VaxGen Inc.
(PK:VXGN)
Sale of interest
in subsidiary
N/A
$15
A group of South Korean investors purchased part
of VaxGen’s stake in Celltrion Inc., reducing
VaxGen’s stake in the South Korean manufacturing
operation to 22.2 from 26.9 (9/21)
York Pharma
plc (UK; AIM:YRK)
Private
placement of
stock
4.717S
£5
($9)
The shares were placed at 106 pence each with
institutional and other investors (9/16)
Avanir
Private
Pharmaceuticals placement of
Inc. (AMEX:AVN)
stock
6.1S
$16.15
Shares were sold at $2.65 each in a registered
direct offering from a shelf registration; investing
were Xmark Funds, Federated Kaufmann, Jennison
Associates LLC and OrbiMed Advisors LLC (10/18)
CepTor Corp.
(OTC BB:CEPO)
Stock
purchase
agreement
N/A
N/A
Fusion Capital Fund II LLC agreed to purchase up
to $20M of CepTor common stock over 40 months;
CepTor has the right to sell Fusion $500,000 of
stock per month at the market price (10/10)
Cytokinetics
Inc. (CYTK)
Stock
purchase
agreement
N/A
N/A
Kingsbridge Capital Ltd. committed to purchase up
to $75M of Cytokinetics’ stock during the next
three years, at times to be determined by Cytokinetics; Kingsbridge also got a five-year warrant to
buy up to 244,000 shares at $9.13 per share (10/28)
Forbes
Medi-Tech Inc.
(Canada; FMTI)
Private
placement of
convertible
notes and
warrants
3.636S and
1.82W
$6
The notes, which mature in October 2008, are
convertible into about 3.6M shares at $1.65 per
share; the five-year warrants are exercisable at
$2.06 per share; Merriman Curhan Ford & Co. was
placement agent (10/27)
OCTOBER
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
81
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Generex
Biotechnology
Corp. (Canada;
GNBT)
Warrants
exercise
ND
$6.4
Investors paid $6.4M to exercise warrants to purchase an undisclosed number of shares (10/28)
Gentium SpA
(Italy; AMEX:GNT)
Private
placement of
stock and
warrants
1.55S and
0.62W
$10.9
The American depository shares were sold at
$7.05 each; warrants to ADSs are exercisable at
$9.69 each; lead investors were funds managed by
Great Point Partners LLC; Rodman & Renshaw LLC
was lead placement agent; Maxim Group LLC and IBankers Securities Inc. were co-agents (10/4)
GlycoGenesys
Inc. (GLGS)
Stock
purchase
agreement
N/A
N/A
Fusion Capital Fund II LLC agreed to purchase up
to $20M of GlycoGenesys stock over 25 months, at
times determined by GlycoGenesys (10/24)
Hana
Biosciences
Inc. (AMEX:HBX)
Private
placement of
stock and
warrants
3.68S and
0.737W
$14.7
The shares were sold at $4 each; the five-year
warrants are exercisable at $5.80 per share;
investors included ProMed Management, Lehman
Brothers, Pogue Capital Management, Perceptive
Life Sciences Fund, Atlas Equity, Mosaix Ventures,
Coqui Capital and Panacea Asset Management;
Oppenheimer & Co. Inc. was lead placement agent
and Griffin Securities was co-agent (10/19)
Helix
BioPharma
Corp. (Canada;
TSE:HBP)
Private
placement of
stock and
warrants
2.34S and
2.34W
C$4
($3.4)
The securities were placed in Europe; each warrant
is exercisable at C$2.39 per share until March 31,
2008 (10/4)
Inflazyme
Restructuring
Pharmaceuticals of subsidiary
Inc. (Canada;
TSE:IZP)
N/A
C$3.6
($3)
Inflazyme raised a total of C$7M from the restructuring in September and then the sale of a subsidiary (10/27)
La Jolla
Pharmaceutical
Co. (LJPC)
Private
placement of
stock and
warrants
88S and
22W
$66
Investing in the deal were Essex Woodlands Health
Ventures Fund VI LP, Frazier Healthcare Ventures,
Alejandro Gonzalez, Special Situations Funds,
Domain Public Equity Partners LP and Sutter Hill
Ventures; the five-year warrants are exercisable at
$1 per share (10/7)
Metabasis
Therapeutics
Inc. (MBRX)
Private
placement of
stock and
warrants
7S and
2.45W
$41.3
The shares were sold at $5.86 each; the warrants
are exercisable at $6.74 per share; investors paid
an additional $0.125 per warrant; SG Cowen & Co.
LLC was lead placement agent, and Rodman &
Renshaw LLC served was co-agent (10/3)
82
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Mologen AG
(Germany;
FSE:MGN)
Private
placement of
stock
0.684S
€5.1
($6.1)
The shares were placed with Absolute Capital
Management at a 10-day average market price,
which was not disclosed; the amount raised was
estimated (10/12)
Novelos
Therapeutics
Inc. (OTC BB:
NVLT)
Private
placement of
convertible
stock and
warrants
N/A and
ND
$3
The 8% notes are convertible into stock at $1.65
per share; the five-year warrants are exercisable at
$5 per share (10/3)
Ortec
International
Inc. (OTC BB:
ORTN)
Private
placement of
stock and
warrants
13.2S and
6.6W
$3.3
The shares were sold at $0.25 each; the warrants
are exercisable at $0.50 per share (10/12)
pSivida Ltd.
(Australia; PSDV)
Private
placement of
convertible
notes and
warrants
N/A and
0.633W
$15
The three-year, 8% notes are convertible into
American depository receipts at $7.10 each; the
six-year warrants are exercisable at $7.20 per ADR
(10/6)
Tercica Inc.
(TRCA)
Equity facility
and warrant
sale
N/A and
0.26W
N/A
Kingsbridge Capital Ltd. committed to purchase up
to $75M in stock over three years; Tercica will
determine the timing and amounts; Kingsbridge
also got a five-year warrant to purchase 260,000
shares at a 30% premium (10/14)
Vasogen Inc.
(Canada; VSGN)
Private
placement of
convertible
notes and
warrants
N/A and
3.33W
$40
The two-year, 6.45% notes are convertible into
common stock at $3 per share; the five-year warrants are exercisable at $3 per share (10/7)
Vical Inc.
(VICL)
Private
placement of
stock
4.7S
$22.6
The shares were sold at $4.80 each in a registered
direct offering; Piper Jaffray & Co. was lead placement agent; Needham & Co. LLC and Rodman &
Renshaw LLC were co-placement agents (10/12)
VioQuest
Pharmaceuticals
Inc. (OTC BB:
VQPH)
Private
placement of
stock and
warrants
1 1.2S and
4.5W
$8.4
The shares were sold concurrently with its merger
with Greenwich Therapeutics; the five-year warrants are exercisable at $1 per share; Paramount
BioCapital Inc. was placement agent (10/19)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
83
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Abcam plc
(UK; AIM:ABC)
Private
placement of
stock
6S
£10
($17.4)
The shares were sold at 167 pence each; totals do
not include £5.25 raised by selling shareholders;
the company also gained a listing on the AIM;
Numis Securities was placement agent (1 1/3)
Angel
Biotechnology
Holdings plc
(UK; AIM:ABH)
Private
placement of
stock
136.4S
£1.5
($2.6)
The company gained admission to the Alternative
Investment Market in conjunction with the financing (1 1/1 1)
AVI
BioPharma
Inc. (AVII)
Private
placement of
stock
6.9S
$22.6
The shares were sold from a shelf registration at
$3.26 each in a direct placement; Rodman &
Renshaw LLC was placement agent (1 1/14)
BioInvent
International
AB (Sweden;
SSE:BINV)
Rights
offering
17.685S
SEK160
($19.5)
Shares were sold at SEK9 per share in the deal in
which existing shareholders got preference rights
(1 1/2)
Carrington
Laboratories
Inc. (CARN)
Private
placement of
notes and
warrants
N/A and
5W
$5
The $5M in 6% notes are due in 2006; half the
four-year warrants are exercisable at $5 per share
and half at $10 per share (1 1/21)
Cell
Therapeutics
Inc. (CTIC)
Private placeN/A
ment of convertible notes
$82
The 6.75% senior notes due in 2010 are convertible
into common stock at an initial price of $2.629 per
share (1 1/1)
Delcath
Systems Inc.
(DCTH)
Private
placement of
stock and
warrants
0.753S and
0.188W
$2.5
H.C. Wainwright & Co. Inc. was placement agent for
the deal, terms of which were not disclosed (1 1/28)
Evolutec
Group plc
(UK; AIM:EVC)
Private
placement of
stock
6.25S
£10
($17.3)
The financing was fully underwritten by Robert W.
Baird (1 1/1 1)
GammaCan
International
Inc. (Israel;
OTC BB:GCAN)
Private
placement of
securities
ND
$0.5
Sal. Oppenheim Jr. & Cie. Ltd. invested in the deal
and has an option to invest an additional $2M;
terms were not disclosed (1 1/15)
Helix
BioPharma
Corp. (Canada;
TSE:HBP)
Private
placement of
stock and
warrants
3.156S and
3.156W
C$5.52
($4.65)
The private placement was completed in Europe;
the warrants are exercisable at C$2.45 until March
31, 2008 (1 1/7)
NOVEMBER
84
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number Of
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Javelin
Pharmaceuticals
Inc. (OTC BB:
JVPH)
Private
placement of
stock and
warrants
14.22S and
0.71 1W
$32
The financing was led by NGN Capital and funds
affiliated with Wexford Capital LLC; the five-year
warrants are exercisable at $2.25 per share; Rodman & Renshaw LLC and Riverbank Capital
Securities Inc. were placement agents (1 1/3)
Karo Bio AB
(Sweden; SSE:
KARO)
Rights issue
46.4S
SEK278.7
($33.8)
The rights issue was 98% subscribed with preferential right for the shareholders (1 1/14)
Novavax Inc.
(NVAX)
Private
placement of
stock
4.186S
$18
The stock was sold from a shelf registration at
$4.30 per share; Rodman & Renshaw LLC was
placement agent (1 1/2)
Nymox
Pharmaceutical
Corp. (NYMX)
Private
placement of
stock
ND
$13
The stock was priced at a 3% discount to the
market price; further terms were not disclosed
(1 1/2)
Oragenics Inc.
(AMEX:ONI)
Private
placement of
stock and
warrants
3S and
3W
$1.2
The shares were sold at $0.40 each and the twoyear warrants are exercisable at $0.60 per share
(1 1/21)
Oxford
Biomedica plc
(UK; LSE:OXB)
Private
placement and
open offer
120.3S
£30.1
($51.7)
The deal was fully underwritten by Evolution
Securities; shares were sold at 25 pence each;
Sigma-Aldrich Corp. invested £2.9M; NM Rothschild
& Sons was financial adviser in the deal (1 1/16)
Peregrine
Private
Pharmaceuticals placement of
Inc. (PPHM)
stock
8S
$6.7
The shares were sold to Double U Master Fund LP
(1 1/23)
Pharmaxis
Ltd. (Australia;
PXSL)
Private
placement of
stock
19.9S
A$43.8
($32)
The placement was completed with Australian and
other investors concurrently with a public offering
in the U.S., which raised another $31.4M (1 1/8)
Pharmexa A/S
(Denmark; CSE:
PHARMX)
Private
placement of
stock
3.4S
DKK72.9
($1 1.5)
The shares were sold at DKK21.45 each, following
a deal to acquire certain assets from IDM Pharma
Inc.; ING was placement agent (1 1/24)
Phoqus Group
plc (UK; AIM:
PQS)
Private
placement of
stock
7.14S
£10
($17.5)
Phoqus gained listing on the Alternative Investment Market through the sale of shares at 140
pence each; Code Securities underwrote the deal
(1 1/3)
Sangamo
BioSciences
Inc. (SGMO)
Private
placement of
stock
5.08S
$19.5
Institutional investors and Dow AgroSciences LLC
purchased about 5.08M shares at $3.85 per share;
JMP Securities and Piper Jaffray & Co. were lead
placement agents; Leerink Swann & Co. was coplacement agent (1 1/1 1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
85
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number OF
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
SemBioSys
Genetics Inc.
(Canada; TSE:SBS)
Debt
financing
N/A
C$2.5
($2.1)
The long-term debt financing was secured from
Oxford Finance Corp. (1 1/21)
SIGA
Technologies
Inc. (SIGA)
Private
placement of
stock and
warrants
2S and
1W
$2
The shares were sold for $1 each, and the sevenyear warrants are exercisable at 1 10% of the Nov. 2
closing price; investors can purchase another $2M
in stock at $1.10 per share; The Shemano Group
was placement agent (1 1/3)
Solexa Inc.
(SLXA)
Private
placement of
stock and
warrants
10S and
3.5W
$65
The shares were sold at $6.50 each, and the warrants are exercisable at $7.50 per share; about 60%
of the deal will close after shareholder approval
(1 1/21)
Starpharma
Holdings Ltd.
(Australia;
ASX:SPL)
Private
placement of
stock and
share purchase
plan
29.4S
A$15
($1 1)
The deal included an A$12M institutional placement and an A$3M underwritten share purchase
plan; shares were priced at A$0.51 in both deals;
Patersons Securities was lead agent in the placement and underwriter of the SPP (1 1/14)
Stressgen
Biotechnologies
Corp. (Canada;
TSE:SSB)
Private
placement of
stock and
warrants
7.645U
C$2.68
($2.3)
Each unit consists of one share and one-third of a
warrant; each full warrant is exercisable for two
years to purchase one share at C$0.50 each;
Canaccord Capital Corp. was placement agent
(1 1/1)
Viventia
Biotech Inc.
(Canada; TSE:VBI)
Warrants
exercise
ND
C$12
($10)
The Dan Group exercised C$12M in warrants; then
the group was repaid C$12M owed in promissory
notes; the Dan Group now owns more than 90% of
the company and plans to acquire the rest (1 1/14)
Acrongenomics Private
Inc. (OTC BB:
placement of
AGNM)
stock
1S
$4
The shares were placed at $4 each (12/22)
Alchemia Ltd.
(Australia; ASX:
ACL)
19.6S
A$21.6
($16.1)
Shares were sold at A$1.10 to institutional investors in a private placement in November; another
A$5M was raised through a subsequent sale of
stock to shareholders at the same price (12/14)
DECEMBER
86
Private
placement of
stock and
share purchase
plan
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number OF
Amount
Shares, Units
Raised (M)
Or Warrants (M)
Amarin Corp.
plc (UK; AMRN)
Private
placement of
stock and
warrants
26.1S and
9.1W
$26.4
Amarin sold 26.1M American depository shares,
each representing one common share, at $1.01
apiece; each warrant is exercisable at $1.43 per
share; investors included Southpoint Capital
Advisors LP, Biotechnology Value Fund LP, Fort
Mason Capital LP and Domain Public Equity
Partners LP (12/19)
Amphion
Innovations
plc (AIM:AMP)
Private
placement of
stock
3.6S
£1
($1.7)
The shares were sold at 27.5 pence each (12/5)
Antisoma plc
(UK; LSE:ASM)
Private
placement of
stock
33.6S
£6.55
($1 1.5)
The shares were placed at 19.5 pence each in an
oversubscribed deal; ING was placement agent
(12/5)
Avanir
Private
Pharmaceuticals placement of
Inc. (AMEX:AVN)
stock
6S
$20
Shares in the registered direct offering were sold
at $3.35 each to investors that included Federated
Kaufmann; the deal was initiated through Leerink
Swann & Co. (12/16)
BioCryst
Private
Pharmaceuticals placement of
Inc. (BCRX)
stock
2.229S
$30
Shares in the registered direct offering were sold
at $13.46 each; investors included Kleiner Perkins
Caufield & Byers and Texas Pacific Group Ventures
(12/15)
BioInvent
International
AB (Sweden;
SSE:BINV)
47.16S
SEK160
($20.3)
26% of the shares were subscribed for without
preferential rights in the oversubscribed deal
(12/9)
Bioniche Life
Sale of
Sciences Inc.
various
(Canada; TSE:BNC) securities
N/A
$18.5
The deal with Laurus Funds consisted of shares,
debt, convertible debt and warrants, with about
$17.5M of the total being various debt (12/9)
BioTime Inc.
(OTC BB:BTIM)
Rights offer
of stock and
warrants
4.465S and
4.465W
$1.8
Units consisting of one share and one warrant
were sold at $0.40 each; the five-year warrants are
exercisable at $2 per share (12/22)
CepTor Corp.
(OTC BB:CEPO)
Private
placement of
convertible
notes
N/A
$2
Cornell Capital Partners LP purchased the threeyear, 8% notes, which are convertible at the lesser
of 105% of the price prior to the deal, or 95% of the
lowest price for 20 days before conversion (12/15)
Ceragenix
Private
Pharmaceuticals placement of
Inc. (OTC BB:CGXP) convertible
notes
N/A
$3.2
The two-year, 10% notes are convertible into stock
at $2.05 per share; investors also got five-year warrants representing half the shares that are exercisable at $2.225 per share (12/6)
Rights issue
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Investors; Placement Agents; Details
(Date)
87
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Chiron Corp.
(CHIR)
Private
placement of
stock
6.9S
$300
Novartis AG purchased the shares at $43.50 each
under a subscription agreement between the companies; Novartis has offered to acquire all of
Chiron (12/8)
CollaGenex
Private
Pharmaceuticals placement of
Inc. (CGPI)
stock
2.9S
$29
CollaGenex sold the shares at $10 each in a registered direct offering; Roth Capital Partners LLC was
placement agent (12/21)
Cytogen
Corp. (CYTO)
Private
placement of
stock and
warrants
3.73S and
0.932W
$13.3
The shares were sold at $3.56 each; the five-year
warrants are exercisable at $4.25 per share;
Rodman & Renshaw was placement agent (12/13)
Discovery
Laboratories
Inc. (DSCO)
Private
placement of
stock
3.03S
$20
The shares were sold in a registered direct offering at $6.60 each; SG Cowen & Co. LLC was placement agent (12/14)
GTC
Private
Biotherapeutics placement of
Inc. (GTCB)
stock and
warrants
9.1S and
3.6W
$16.7
Shares were sold for $1.78 each in the registered
direct offering; investors also paid $0.125 per warrant; the five-year warrants are exercisable at
$2.05 per share; SG Cowen & Co. LLC was lead
placement agent; Rodman & Renshaw LLC was
co-agent (12/8)
Halozyme
Therapeutics
Inc. (AMEX:HTI)
Private
placement of
stock and
warrants
10S
$17.5
The shares were sold in a registered direct offering
at $1.75 each; SG Cowen & Co. LLC was lead placement agent; Rodman & Renshaw and Roth Capital
Partners were co-placement agents (12/13)
Immtech
International
Inc. (AMEX:IMM)
Private
placement of
convertible
stock and
warrants
N/A and
0.0835W
$3.34
Immtech sold 133,600 Series E shares at $25 per
share, with each convertible into 3.551 1 shares; the
83,500 three-year warrants are exercisable at $10
per share; investors have an option to purchase
25% more of the Series E shares (12/14)
Inovio
Private
Biomedical
placement of
Corp. (AMEX:INO) stock and
warrants
6.583S and
2.3W
$15.8
Shares were sold at $2.40 each, and the five-year
warrants are exercisable at $2.93 per share;
a group of institutional investors was joined by
Merck & Co. Inc. and Vical Inc. in the deal; Thomas
Weisel Partners was placement agent (12/19)
InSite
Vision Inc.
(AMEX:ISV)
ND
$4
The financing was obtained through Paramount
BioCapital Inc.; terms of the deal were not disclosed; another $2M was expected to be invested
early in January (12/30)
88
Private
placement of
debt and
warrants
Investors; Placement Agents; Details
(Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Investors; Placement Agents; Details
(Date)
Lpath
Private
Therapeutics
placement of
Inc. (OTC BB:LPTN) stock and
warrants
7.5S and
0.375W
$6
The deal was completed just prior Lpath’s reverse
merger with the public company Neighborhood
Connections Inc.; the 58-month warrants are exercisable at $1.50 per share; Roaring Fork Capital
SBIC LP led the financing (12/8)
MicroIslet Inc.
(AMEX:MII)
Private
placement of
stock and
warrants
2.285S and
1.14W
$3.4
The shares were sold at about $1.50 each; the fiveyear warrants are exercisable at $1.65 per share
(12/27)
MacroChem
Corp. (OTC BB:
MCHM)
Private
placement of
convertible
notes and
warrants
N/A and
100W
$2.5
The 10% notes are convertible into 100M shares of
common stock; the six-year warrants are exercisable at $0.03 per share (12/28)
Neuren
Private
Pharmaceuticals placement of
Ltd. (Australia;
stock
ASX:NEU)
12S
A$6.36
($4.75)
The shares were sold at $0.53 each in a placement co-managed by Taylor Collision Ltd. and
Patersons Securities Ltd. (12/2)
Oncolytics
Private
Biotech Inc.
placement of
(Canada; TSE:ONC) stock and
warrants
3.2S and
1.6W
C$16.5
($14.3)
Units were sold at C$5. 1 5 each, consisting of
one share and half a warrant; each whole warrant
is exercisable for three years at C$6.15 per share
(12/13)
OSI
Private
Pharmaceuticals placement of
Inc. (OSIP)
convertible
notes
N/A
$100
The 2% notes mature in 2025 and are convertible
into stock at an initial price of $29.43 per share, a
premium of 25% (12/15)
ProMetic
Life Sciences
Inc. (Canada;
TSE:PLI.SV)
Private
placement of
convertible
notes
N/A
$8.9
The notes are convertible into common stock at
C$0.32 per share; the notes are repayable in cash
and/or stock (12/21)
SemBioSys
Genetics Inc.
(Canada; TSE:SBS)
Private
placement of
stock and
warrants
3.86S and
1.932W
C$15.6
($13.4)
Units consisting of one share and half a warrant
were placed at C$4 apiece; each whole warrant is
exercisable for 30 months at C$5.50 per share;
underwriters, led by Orion Securities Inc. and
including Versant Partners Inc., Canaccord Capital
Corp. and Westwind Partners Inc., exercised their
option on an additional 1.3M units in the deal (12/6)
Stressgen
Biotechnologies
Corp. (Canada;
TSE:SSB)
Private
placement of
stock and
warrants
2.685S and
0.9W
C$0.94
($0.81)
Canaccord Capital Corp. exercised its overallotment option to purchase additional units from a
C$2.68M financing completed in November; the
two-year warrants are exercisable at C$0.50 per
share (12/14)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
89
2005 Miscellaneous Financings Of Public Biotech Companies (Continued)
Company
(Country;
Symbol)
Type Of
Financing
Number
Amount
Of Shares, Units Raised (M)
Or Warrants (M)
Vernalis plc
(UK; VNLS)
Private
placement of
stock
24.28S
£15.3
($26.6)
Investors; Placement Agents; Details
(Date)
Proceeds from the placement were received by
former Cita NeuroPharmaceuticals Inc. shareholders as part of Vernalis’ acquisition of Cita;
Piper Jaffray was placement agent (12/14)
Notes:
This chart does not include real estate or manufacturing plant financings, or debt deals done to replace existing debt.
Currency conversions are based on exchange rates at the time of the deal.
N/A = Not applicable; ND = Not disclosed.
S = Shares; U = Units; W = Warrants
# Unless otherwise indicated, shares are traded on the Nasdaq exchange.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange;
CDNX = Canadian Venture Exchange; CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange;
HSE = Helsinki Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange;
OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SPE = Spanish Stock Exchange;
SSE = Stockholm Stock Exchange; SWX = Swiss Stock Exchange; TEL = Tel Aviv Stock Exchange;
TSE = Toronto Stock Exchange.
90
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private
Biotechnology Firms
Company
Location
Date
Amt. (M)
Details
Adenosine
Therapeutics
LLC
Charlottesville, Va.
1/25/05
$3.5
Details on the financing were not disclosed
Alexza
Molecular
Delivery Corp.
Palo Alto, Calif.
1/6/05
$52
Alloy Ventures and Delphi Ventures co-led the
Series D financing, which included Abingworth
Bioventures, MDS Capital, Pacific Rim Ventures,
T. Rowe Price, WestRiver Capital, Alejandro Zaffaroni, Frazier Healthcare, Versant Ventures,
5AM Ventures, Burrill & Co., CMEA Ventures,
New Enterprise Associates and Zesiger Capital
Group
Apoxis SA
Lausanne,
Switzerland
1/25/05
€15
($19.5)
Participating in the second-round financing
were Novo Nordisk, Banexi Ventures Partners,
HealthCap and private investors
Biolipox AB
Stockholm, Sweden
1/10/05
$41
The Series C round was led by Scandinavian Life
Science Venture and included existing investors
HealthCap, Apax Partners, Sofinnova Partners,
Auriga Partners and Crédit Lyonnais Private
Equity
BioWisdom
Ltd.
Cambridge, UK
1/31/05
£2.3
($4.3)
New investors Finsbury Life Sciences Investment
Trust and NIF Ventures Ltd. were joined by
returning investors, including Merlin Biosciences
and MB Venture Capital, in the financing round
Chelsea
Therapeutics
Inc.
Charlotte, N.C.
1/1 1/05
$14.5
The company sold Series A convertible preferred
stock in the round; Paramount BioCapital Inc. was
placement agent
Compound
Therapeutics
Inc.
Waltham, Mass.
1/18/05
$15.5
The company raised $15.5M in an expansion of
its Series A financing; it raised $12M in May 2003;
investors included Atlas Venture, Flagship
Ventures and Polaris Venture Partners
DanioLabs
Ltd.
Cambridge, UK
1/17/05
£3.2
($6)
Cambridge Gateway Fund led the first-round
financing, which also included Merifin, NVM and
existing and new angel investors
Efficas Inc.
Boulder, Colo.
1/4/05
$3
The Series A-3 round was led by the Bay Area
Equity Fund and included Boston Life Science
Venture Corp.; total investment in the company
is about $8.5M
JANUARY
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
91
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Elbion AG
Dresden, Germany
1/10/05
€25
($32.4)
The Degussa AG spinout completed a first-round
financing co-led by 3i, Burrill & Co. and DVC
Deutsche Venture Capital; other investors were
AGF Private Equity, Quintiles PharmaBio Development, BayTech Venture Capital and Marubeni
Corp.
Immutep SA
Orsay, France
1/10/05
€2.5
($3.3)
Innoven Partenaires led the second-round financing, which included an investment from Equitis’
H2I fund
Nereus
San Diego
Pharmaceuticals
Inc.
1/4/05
$24.3
New investors HBM BioVentures Ltd. and HBM
BioCapital LP led the Series D preferred round,
expected to be the first tranche of a $42.6M deal;
other investors were Advent International,
InterWest Partners, Genavent Partners, Red Abbey
Venture Partners, Alta Partners, Forward Ventures,
GIMV, Novartis Bioventure Fund, Pacific Venture
Group, FirstBio and Lotus BioScience Ventures
Neuro3d
Mulhouse, France
1/3/05
€34.5
($41.3)
Gilde Investment Management’s Biotech fund
and AXA Private Equity led the Series C financing,
which also included Healthcare Private Equity LP,
GIMV, HealthCap, Techno Venture Management
Partners, Sofinnova Partners and APAX Partners
OctoPlus
Technologies
BV
Leiden, the
Netherlands
1/20/05
$23.85
The second-round financing was led by Life
Sciences Partners II BV and S.R. One Ltd., and
included Innoven Partenaires, Fortis Private
Equity and SurModics Inc.; Fortis Bank was placement agent
OpGen Inc.
Madison, Wis.
1/24/05
$5
The company completed a Series B round of
financing; investors included Mason Wells
Biomedical Fund, Stonehenge Capital, The State
of Wisconsin Investment Board and The Wisconsin Alumni Research Foundation
Paradigm
Therapeutics
Ltd.
Cambridge, UK
1/7/05
£5.5
($10.3)
Bio*1Capital, Merlin Biosciences and Avlar
BioVentures invested additional money in the
company following its acquisition of Amedis
Pharmaceuticals Ltd.
Pennsylvania
companies
Philadelphia
1/25/05
$3.5
BioAdvance is providing a total of $3.5M in seed
capital to the following companies: Avid Radiopharmaceuticals, Marillion Pharmaceuticals,
InfraScan, Galleon Pharmaceuticals, Jerin
Discovery, Melior Discovery and SansRosa
Pharmaceuticals
92
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
PolyMedix Inc.
Philadelphia
1/5/05
$6
The company had two closings in a Series B
financing round; details were not disclosed
Predix
Woburn, Mass.
Pharmaceuticals
Inc.
1/25/05
$43
The Series C financing round was led by Forward
Ventures, Boston Millennia Partners and CMEA
Ventures and included new investors Novel
Bioventures, Yamanouchi Venture Capital, Yasuda
and JAFCO Ventures and previous investors
OrbiMed Advisors LLC, S.R. One, Yozma Group,
International Life Science Partners and PA
Consulting
Protalix
Biotherapeutics
Ltd.
Karmiel, Israel
1/12/05
$1.3
The funding was provided by investment fund
Pontifax, which has an option to invest another
$1M
Spaltudaq
Corp.
Seattle
1/24/05
ND
The company, started by Accelerator Corp., completed a Series A financing that included MPM
Capital, ARCH Venture Partners, Amgen Ventures,
OVP Venture Partners, Versant Ventures and
Alexandria Real Estate Equities
VirtualScopics
LLC
Rochester, N.Y.
1/6/05
$1.4
An affiliate of Loeb Partners Corp. exercised all
the warrants it received in its initial investment
in VirtualScopics
Vitae
Fort Washington, Pa.
Pharmaceuticals
(formerly
Concurrent
Pharmaceuticals)
1/4/05
$34
New investors Atlas Venture and Wellcome Trust
joined existing investors Prospect Venture
Partners, Venrock Associates and New Enterprise
Associates in the financing round
Zealand
Glostrup, Denmark
Pharmaceuticals
A/S
1/7/05
€13.3
($17.3)
BankInvest led the financing round, which also
included LD Pension, Dansk Erhvervsinvestering
and Vaekstfonden
Abeille
Princeton, N.J.
Pharmaceuticals
Inc.
2/22/05
$1.5
Accredited investors participated in the Series A
financing round; details were not disclosed
Advanced Cell
Technologies
Inc.
Worcester, Mass.
2/1/05
$8
The company sold Series A preferred stock and
warrants just prior to its reverse merger with
A.C.T. Holdings Inc. (OTC BB:ACTH); the securities
converted into ACTH stock and warrants
Archimedes
Pharma Ltd.
London
2/9/05
$40
Warburg Pincus invested $40M in the new company, which acquired the nasal drug delivery
assets of West Pharmaceutical Services Inc.
93
FEBRUARY
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Biosystems
International
Evry, France
2/4/05
€3
($3.8)
Two funds managed by Société Générale Asset
Management invested in the company’s first
financing round
Cavis
Microcaps
GmbH
Mainz, Germany
2/3/05
€5
($6.4)
Inventages Venture Capital Investment Inc. and
BASF Venture Capital invested in the Series A
financing round
FibroGen
Inc.
South San Francisco
2/16/05
$100
Adage Capital Management led the financing;
also participating were Apothecary Capital,
Brookside Capital Partners, Corriente Biotechnology Partners, Duquesne Capital Management,
Goldman Sachs, Janus Capital Group, Merlin BioMed Group, Och-Ziff Capital Management, The
Rosewood Corp., Sigma Capital Management, T.
Rowe Price, Yamanouchi Pharmaceutical Co. Ltd.,
SMBC Capital and Bio Fund Management
FivePrime
Therapeutics
Inc.
South San Francisco
2/8/05
$45
Domain Associates LLC led the financing round
that also included HealthCap, the JP Morgan Bay
Area Equity Fund, Kleiner Perkins Caufield and
Byers, Versant Ventures, Texas Pacific Group,
Advanced Technology Ventures, The Wellcome
Trust, Diamond Capital Co. Ltd. and Singapore
BioInnovations Pte. Ltd.; Three Crowns Capital
served as adviser to the company
Jerini AG
Berlin
2/14/05
€15.5
($20.2)
The financing round was co-lead by NGN Capital,
Life Sciences Partners and The Bioscience
Investment Trust plc; also participating were
existing investors Healthcap, TVM, 3i Group
Investments LP and funds managed by IBB
Beteiligungsgesellschaft
Kiadis BV
Groningen, the
Netherlands
2/3/05
€4
($5.2)
The Series B financing round was led by Life
Sciences Partners and included existing investor
Prelude Trust plc and new investor NV NOM
Medisyn
Technologies
Inc.
Minneapolis
2/17/05
$1.5
MTI Investors LLC led the bridge financing round;
current investors Sherpa Trek I LP, StarTec Investments, Andcor Cos. Inc. and Portage Capital took
part in the offer of convertible notes and warrants
M-phasys
GmbH
Tubigen, Germany
2/8/05
ND
Investors in the Series C financing included KfW
Bankengruppe, Grazia Equity, Gradus Ventures,
Heidelberg Innovation and TechnoStart Ventures
2/21/05
€30
($39.7)
HBM Partners AG was lead investor in the round;
existing investors 3i Group, Apax Partners and
Atlas Venture also participated
Newron
Milan, Italy
Pharmaceuticals
SpA
94
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Opsona
Therapeutics
Ltd.
Dublin, Ireland
2/24/05
€6.25
($8.2)
Inventages Venture Capital and Seroba BioVentures led the Series A financing, which also
included Genentech Inc. and Enterprise Ireland
Perlegen
Sciences Inc.
Mountain View, Calif.
2/28/05
$74
The Series D financing was led by CSK Venture
Capital; new investors included Brookside
Capital, Mizuho Securities, Glynn Capital Management and Cape Securities; previous investors
participating included Alejandro Zaffaroni,
Maverick Capital, Lombard Odier Darier Hentsch
&Cie, Zesiger Capital, Sano Ventures, BSI SA, MPM
BioEquities, SB Life Sciences, Unilever Ventures,
Biofrontier Partners, Private Life Biomed, CMEA
Ventures and Affymetrix Inc.
Sciona Inc.
Boulder, Colo.
2/28/05
$8.2
Burrill & Co. led the second closing of the thirdround financing, which also included Prelude
Trust, BASF Venture Capital GmbH and Bioventures Inc.
Speedel Group
Basel, Switzerland
2/22/05
CHF47.8
($41)
Speedel completed an equity round of financing;
the majority of the funding came from current
shareholders
Stirling Medical
Solutions Ltd.
Stirling, Scotland
2/28/05
£97.5
($186.4)
Inverness Medical Innovations Inc. set up Stirling
and committed to invest £67.5M over three
years; ITI Life Sciences, a public entitiy, is providing £30M to the diagnostics company, a subsidiary of IMI
The Genetics
Co. Inc.
Schlieren,
Switzerland
2/15/05
CHF17
($14.3)
Nextech Venture, the Novartis Venture Fund and
Varuma AG led the Series C round; they and other
investors have an option to invest another
CHF8M to bring the round to CHF25M
Voyager
Pharmaceutical
Corp.
Raleigh, N.C.
2/14/05
$16
Non-institutional investors participated in the
financing, with more than 90% of it from current
shareholders
2/21/05
€13
($17.2)
Zealand completed a second closing of a Series C
round; the first closing of €13M occurred in January;
investors in the second closing included CDC
Enterprises Innovation, AGF Private Equity and
Life Sciences Partners
3/30/05
$22
All major existing shareholders in the company
participated in the financing, which also included
new investors
95
Zealand
Glostrup, Denmark
Pharmaceuticals
A/S
MARCH
Agennix Inc.
Houston
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Date
Amount
(M)
Details
Alantos
Cambridge, Mass.
Pharmaceuticals
Holding Inc.
3/10/05
$20
Participating in the Series B financing were
existing investors Oxford Bioscience Partners, SV
Life Sciences, Earlybird, ABN AMRO, Heidelberg
Innovation and Ventech
Arginox
Menlo Park, Calif.
Pharmaceuticals
3/1/05
$25
The Series C round was led by existing investor
Topspin Partners; Perseus Soros Biopharmaceutical Fund also participated
B-Bridge
International
Inc.
Sunnyvale, Calif.
3/29/05
$4.2
Bio-sight Capital Co. Ltd. led the financing, which
also included Hokkaido Venture Capital Inc.,
Marubeni Corp. and existing investors
Borean
Pharma A/S
Aarhus, Denmark
3/23/05
€4
($5.2)
The Series A financing was led by Aravis Venture
and included existing investors BankInvest, Novi
and Incuba
Cleveland
BioLabs
Cleveland
3/25/05
$5.9
Sunrise Equity Partners LP led a group of private
and institutional investors in the financing round
Evolva Biotech
SA
Allschwil, Switzerland
3/22/05
CHF3
($2.5)
New investor Andhra Pradesh Industrial Development Corp. Venture Capital led the second
close of the company’s Series A financing; it raised
CHF18.5M in the first close in August 2004
Fibrex Medical
Inc.
Wilmington, Del.,
and Vienna, Austria
3/15/05
$10
Global Life Science Ventures and Atlas Venture
led the Series A financing, which included EMBL
Ventures and Mulligan BioCapital
GeneExcel Inc.
Houston
3/15/05
$1
ITX International Holdings Inc., which licensed
certain rights from GeneExcel, invested
$700,000 in the Series A round; Alkek Ventures
and some private investors also participated
ImaRx
Therapeutics
Inc.
Tucson, Ariz.
3/10/05
$7
First Montauk Securities Corp. was placement
agent for the financing
KaloBios
Palo Alto, Calif.
Pharmaceuticals
Inc.
3/16/05
$20
The Series B financing round was led by MPM
Capital and GBS Venture Partners and included
Lotus BioScience Ventures and existing investors
Sofinnova Ventures, Alloy Ventures, 5AM Ventures and Singapore BioInnovations Pte. Ltd.
Mitra
Medical AB
3/30/05
SEK30
($4.2)
Inter Ikea and Industrifonden invested in the
financing round
96
Location
Lund, Sweden
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Nautilus
Biotech
Paris
3/1/05
€7.25
($9.6)
Auriga Partners led the financing round; investors in the company include Matignon Technologies, Edmond Rothschild Investment Partners,
FCJE, Pre-IPO Invest, 123 Venture and Creabilis
Biotech
Performance
Plants Inc.
Kingston, Ontario
3/23/05
C$1.5
($1.2)
Participating in the financing round were existing investors Golden Opportunities Fund, Dynex
Capital Partners and Venture Link Funds
PharmAthene
Inc.
Annapolis, Md.
3/10/05
ND
Simultaneous with its acqusition of Protexia
technology from Nexia Biotechnologies Inc., the
company completed a Series C financing; investors included Teachers’ Private Capital, Canadian
Medical Discoveries Fund Inc., MDS Life Sciences
Technology Fund US LP, MPM Capital, Bear
Stearns Health Innoventures and HealthCare
Ventures
Rosetta
Genomics Ltd.
Rehovot, Israel
3/22/05
$4
Kadima High Tech led the Series C round, which
included Teva Pharmaceutical Industries Ltd.,
GlenRock Israel and a number of individual
investors
Sequoia
Gaithersburg, Md.
Pharmaceuticals
Inc.
3/20/05
$22
The Series B financing was led by Health Care
Ventures and included Sofinnova Partners,
Aberdare Ventures and The Wellcome Trust
Sirtris
Waltham, Mass.
Pharmaceuticals
Inc.
3/7/05
$27
The Series B round was led by new investor
Three Arch Partners and co-led by Cargill Ventures,
and included Novartis Bioventures Fund, Polaris
Venture Partners, Techno Venture Management,
Cardinal Partners, Skyline Ventures and The Wellcome Trust
TolerRx Inc.
Cambridge, Mass.
3/29/05
$31
Bear Stearns Health Innoventures led the Series D
financing, which included all existing investors
as well as NIF Ventures and individuals
TopoTarget
A/S
Copenhagen,
Denmark
3/16/05
€15
($19.8)
Investors in the Series C financing included BankInvest, HealthCap and Deutsche Venture Capital
TorreyPines
Therapeutics
Inc.
San Diego
3/16/05
$34.8
The company changed its name from Neurogenetics Inc.; Johnson & Johnson Development Corp.
and Alta BioPharma Partners led the Series C
round; other investors included NIF Ventures,
Sorrento Ventures, GIMV, Alta Partners, Advent
International, Novartis Venture Fund and S.R. One
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
97
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Actimis
San Diego
Pharmaceuticals
Inc.
4/28/05
$6
Sanderling Ventures led the Series A financing,
which also included Mitsui & Co. Venture
Partners; Actimis was spun out of Bayer HealthCare AG
Affectis
Munich, Germany
Pharmaceuticals
AG
4/13/05
€4
($5.17)
The Series B financing round was led by EMBL
Ventures; additional new investors Adamant, KfW
and Sunrise Water Ltd. joined existing investors
LSP, BayernKapital and the Max Planck Society
Ambrx Inc.
4/8/05
$23.4
The second-round financing included new
investors Maverick Capital, CMEA Ventures,
Twilight Venture Partners and Alexandria Real
Estate Equities and existing investors Tavistock
Life Sciences, 5AM Ventures, Versant Ventures
and Aravis Ventures
Anthera
San Francisco
Pharmaceuticals
Inc.
4/21/05
ND
The new company completed a Series A
financing
CellCentric
Ltd.
Cambridge, UK
4/7/05
£0.25
($0.47)
The Rainbow Seed Fund invested in the financing
that adds on to the company’s initial round
DNage BV
Rotterdam, the
Netherlands
4/13/05
€1.5
($2)
Inventages Venture Capital and Life Sciences
Partners invested in the seed round of the firm,
which was spun out of Erasmus Medical Center
GeneOhm
Sciences Inc.
San Diego
4/1/05
ND
Partners HealthCare System Inc. invested in the
company in a follow-on Series C financing
Gentris Corp.
Morrisville, N.C.
4/27/05
$5
Mitsui & Co. (U.S.A.) Inc. provided funding for the
Series C financing round
Hamilton
Washington
Pharmaceuticals
Inc.
4/22/05
$1 1.1
Founding investors Vivo Ventures LLC and CNF
Investments LLC were joined by Index Ventures
in the Series A financing
Ikaria Inc.
Seattle
4/26/05
ND
The new company received investments from
ARCH Venture Partners, Venrock Associates, 5AM
Ventures, Aravis Ventures and the Washington
Research Foundation
Ipsat
Therapies
Helsinki, Finland
4/4/05
€7
($9)
The financing round was led by Bio Fund Management Oy, with Finnish Industry Investment
Ltd., the Varma Mutual Pension Insurance Co. and
Sitra also investing
APRIL
98
San Diego
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Merrimack
Cambridge, Mass.
Pharmaceuticals
Inc.
4/20/05
$37.3
The financing comprises $28.3M of Series
D stock and a $9M venture loan; existing investors Sorenson Development Inc., Unilever Technology Ventures Fund BV and Wharton Biotechnology Partners were joined by WT Investment
Advisors; the loan was provided by Hercules
Technology Growth Capital
Molecular
Cambridge, Mass.
Insight
Pharmaceuticals
Inc.
4/21/05
$28
New investors Siemens Venture Capital GmbH
Corp., Tudor Investment Corp., MedCap Management & Research LLC and Emigrant Capital Corp.
joined existing investors in the Series C financing
round; SG Cowen & Co. was placement agent
NanoString
Technologies
Inc.
Seattle
4/27/05
$3.8
Series A investors that invested $4.3M in August
2004 increased the round to $8.1M by exercising
warrants in full; the investors were Draper Fisher
Jurvetson and OVP Venture Partners
Oxford Genome
Sciences Ltd.
Oxford, UK
4/4/05
ND
The South East Growth Fund led the secondround financing, and Oxford Capital Partners
joined as a new investor
Receptor
Biologix Inc.
South San Francisco
4/28/05
$33.6
Skyline Ventures led the Series A financing,
which also included Domain Associates, Essex
Woodlands Health Ventures, MedImmune
Ventures, Takeda Research Investment Inc. and
Northwest Technology Ventures
Syntarga BV
Nijmegen, the
Netherlands
4/15/05
ND
Aglaia Oncology Fund led the Series A financing,
with BioPartner Start-up Ventures as co-investor
Talecris
Biotherapeutics
Inc.
Research Triangle
Park, N.C.
4/1/05
ND
The company was formed from the purchase of
Bayer HealthCare LLC’s plasma business;
Cerberus Capital Management LP and Ampersand Ventures provided financing for Talecris
Ventaira
Columbus, Ohio
Pharmaceuticals
4/4/05
$13.5
TL Ventures led the Series C round, which included Battelle Ventures, Battelle, Safeguard
Scientific, PA Early Stage Partners, Fletcher
Spaght Ventures LP, Reservoir Venture Partners
and James Richardson & Sons Ltd.
Xceleron Ltd.
4/28/05
£2
($3.8)
Close Venture Management led the financing
round with a £1.5M investment, while Foursome
Investments provided £0.5M
Heslington, UK
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
99
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
AC Immune
Ecublens, Switzerland
5/1 1/05
CHF21
($17.2)
New investors contributed two-thirds of the
funds in the Series B financing round
Ambit
Biosciences
Corp.
San Diego
5/12/05
$10
Ambit completed the second close of its Series C
financing, which now totals $31M; it raised $21M
in August 2004; Roche Venture Fund led the
round, which included Perseus-Soros Biopharmaceutical Fund, Forward Ventures, GIMV, Avalon
Ventures and new investors Canadian Medical
Discoveries Fund Inc. and Genechem
Anacor
Palo Alto, Calif.
Pharmaceuticals
Inc.
5/1 1/05
$25
The Series C financing was co-led by Care Capital
and Venrock Associates; other new investors
included Red Abbey Venture Partners and individuals associated with Anacor; existing
investors Aberdare Ventures and Rho Ventures
also participated
Androclus
Therapeutics
San Diego
5/16/05
ND
E. de Rothschild Investment Partners and
Matignon Technologies led the company’s first
institutional financing round
Assay
Designs Inc.
Ann Arbor, Mich.
5/12/05
$5
Ampersand Ventures was the sole investor in the
the company’s Series A financing round
Avidia Inc.
Mountain View, Calif.
5/4/05
$28.5
Morgenthaler Ventures led the Series B financing,
which also included TPG Ventures, MedImmune
Ventures, Amgen Ventures and existing Series A
shareholders Alloy Ventures, Maxygen Inc.,
Willem Stemmer and several individuals
Bayhill
Therapeutics
Inc.
Palo Alto, Calif.
5/4/05
$35.4
De Novo Ventures and Lilly Ventures led the
Series B financing, and were joined by CMEA
Ventures, Latterell Venture Partners, Morgenthaler Ventures, U.S. Venture Partners, the Vertical
Group, A.M. Pappas Life Science Ventures, Boston
Life Science Venture Corp., Grand Cathay Venture
Capital Co. Ltd., Montreux Equity Partners, PACLINK Bio Management Corp., Prudence Venture
Investment Corp. and Quintiles’ PharmaBio
Development
5/18/05
$1 1.8
The follow-on Series C investment brings the
Series C investment to $37.5M; $25.7M was
raised in November 2004; investors in this closing included Noro-Moseley, PTV Sciences, Axiom
Ventures and HSS Ventures
MAY
BioMimetic
Franklin, Tenn.
Pharmaceuticals
Inc.
100
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Biopheresis
Technologies
Inc.
Cary, N.C.
5/12/05
€6.5
($8.2)
Participating in the Series A round were European
investors Scandinavian Life Science Venture and
First Ventury
Celator
Princeton, N.J.
Pharmaceuticals
Inc.
5/3/05
$40
New investors Domain Associates, Quaker BioVentures and TL Ventures joined existing investors Ventures West, GrowthWorks Capital and the
Business Development Bank of Canada in the
financing round
Cellerant
Therapeutics
Inc.
Palo Alto, Calif.
5/1 1/05
$16
Novel Bioventures led the Series B financing,
which included George Rathmann, CX Venture
Group, Allen & Co. and MPM Capital
Conforma
Therapeutics
Corp.
San Diego
5/2/05
$1 1
Conforma added $1 1M to a Series C round from
September 2003, bringing the total to $41.5M;
returning investors included Domain Associates,
Forward Ventures, Inglewood Ventures, Lilly BioVentures, Novo A/S, ProQuest Investments, RBC
Capital Partners, RiverVest Venture Partners and
S.R. One Ltd.
Cylene
San Diego
Pharmaceuticals
Inc.
5/25/05
$26.3
The Series B financing was led by Coastview
Capital; other new investors included BioVentures
Investors, Mitsui & Co. Venture Partners, Morningside Venture Investments, TDL Investors,
William Harris Investors, Lakeview Capital and
the Viterbi Group; all existing shareholders also
participated
Cytochroma
Inc.
Markham, Ontario
5/5/05
C$15
($12)
The company received the first tranche of a
C$15M financing, which was led by VenGrowth
Private Equity Partners Inc. and included all
current investors
Elbion AG
Dresden, Germany
5/24/05
€10
($12.2)
Elbion added €10M to its Series A funding round,
which now totals €35M; it raised €25M in January;
additional investors include Techno Venture
Management, Temasek Holdings and Mitsubishi
Corp.
Evogene Ltd.
Rehovot, Israel
5/31/05
$1.75
The company raised the money from new and
existing investors in Israel, France and North
America
FASgen Inc.
Baltimore
5/13/05
$2
A private investor provided the funding to support development of the company’s tuberculosis
drug candidate
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
101
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Date
Amount
(M)
Details
Gemin X
Montreal
Biotechnologies
Inc.
5/19/05
$65.2
The Series D funding consists of a $50M equity
investment and up to $15.2M in a loan facility;
the H.I.G. and Sanderling groups of funds led the
financing, which included Merlin BioMed Group,
Pinnacle Biotech Ventures Fund and all current
investors; Investissement Quebec’s Biolevier
Program provided the loan
Genomatix
Corp.
Roanoke, Va.
5/17/05
$0.5
NewVa Capital Partners LP provided the funding
for the the company’s Series B financing
HTG Inc.
Tucson, Ariz.
5/4/05
$3.4
Investing in the Series B round were Solstice
Capital, Valley Ventures, Emerging Technology
Partners, Deimos Ventures, Village Ventures,
members of the Tucson Desert Angels and HTG
founder Bruce Seligmann
Intercept
New York
Pharmaceuticals
Inc.
5/4/05
$1.25
Rodman & Renshaw led the convertible debt
financing, which also included investments from
individuals and institutions
LifeCycle
Pharma A/S
5/17/05
€15
($19)
Alta Partners led the Series C financing round,
which included DG Lux Multimanager I Sicav
Lacuna Apo BioTech Subfund and existing
investors H. Lundbeck A/S, Novo A/S and Nordic
Biotech
Montigen
Salt Lake City
Pharmaceuticals
Inc.
5/13/05
$5.2
Details on the Series A financing were not disclosed
NsGene A/S
Ballerup, Denmark
5/2/05
DKK30
($5.2)
NeuroSearch A/S and other existing shareholders invested in the financing round; NeuroSearch’s stake increased to 25.3% from 25%
Oxagen Ltd.
Abingdon, UK
5/23/05
$59.8
MPM Capital led the Series B financing round,
which included new investors Bessemer Venture
Partners, IBT and Red Abbey and existing
investors SV Life Sciences, Advent Ventures, 3i,
Abingworth and The Wellcome Trust
Phenomix
Corp.
San Diego
5/24/05
$40
New investors JPMorgan Partners and Delphi
Ventures co-led the Series B financing, which
included new investor Baker Brothers Investments and existing investors Alta Partners,
Sofinnova Ventures, Bay City Capital, CMEA
Ventures, GBS Venture Partners and Novartis
BioVenture Fund
102
Location
Horsholm, Denmark
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Prolysis Ltd.
Oxford, UK
5/24/05
$9.9
The Series B financing round was led by existing
institutional investors, and was joined by
Fujisawa Investments for Entrepreneurs LP and
Fujisawa Investments for Entrepreneurs II LP
Spherics Inc.
Lincoln, R.I.
5/12/05
$26.4
Advent International led the Series C financing,
which included new investors MVM Life Sciences,
Oakwood Medical Investors, AM Pappas, Mitsubishi and Vectis Life Sciences Fund, as well as
Series A and B investors Zero Stage Capital, CB
Health Ventures, POD Holding and Eastman
Ventures
Tranzyme
Pharma
Research Triangle
Park, N.C.
5/13/05
$32
H.I.G. Ventures; Thomas, McNerney & Partners;
and Quaker BioVentures led the Series C financing, which included existing investors Business
Development Bank of Canada, Desjardins
Venture Capital, Pacific Rim Ventures and The
Solidarity Fund
Wilex AG
Munich, Germany
5/10/05
€30
($38.4)
Merlin Biosciences led the Series C round, which
included new investors Karolinska Investment
Fund, Quest for Growth, Quintiles’ PharmaBio
Development and existing investors Apax
Partners, TVM Techno Venture Management,
Earlybird Venture Capital and others
Zelos
Therapeutics
Inc.
Waltham, Mass.
5/18/05
$42.5
Alta Partners led the Series B financing, which
included other new investors Prospect Venture
Partners, Frazier Healthcare Ventures, SR One and
the Ontario Teacher’s Pension Plan and existing
investors VenGrowth Private Equity Partners Inc.,
Genesys Capital Partners Inc., Seaflower Ventures
and the Business Development Bank of Canada;
Ferghana Securities managed the financing
AgraQuest
Inc.
Davis, Calif.
6/7/05
$14.35
The financing round was co-led by Otter Capital
LLC and new investors Texas Pacific Group and
Halcyon Capital; also participating were existing
investors SAM Sustainability Private Equity LP,
Sustainable Performance Group NV, Swiss Re
Investors, Berndt Trusts, JSS Management, Vivo
Ventures and Boldcap Ventures
AmpliMed
Corp.
Tucson, Ariz.
6/21/05
$5
Biotech Insight Ventures led the Series B financing round, which included previous investors
InvestBio Ventures, Valley Ventures and Solstice
Capital
103
JUNE
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Borean
Pharma A/S
Aarhus, Denmark
6/15/05
€1.5
($1.8)
New investor ABN Amro invested €1.5M in a second
closing in the Series A round; Borean raised €4M
in the first closing in March
Codon Devices
Cambridge, Mass.
6/1/05
$13
Founding investor Flagship Ventures led the
Series A financing round, which also included
Alloy Ventures, Kleiner Perkins and Vinod Khosla
Diabetica
Ltd.
Coleraine,
Northern Ireland
6/15/05
ND
UUTech Ltd., the technology transfer arm of the
University of Ulster, and Seroba BioVentures provided funding for the university spin-off
DrugAbuse
Sciences SAS
Lyon, France
6/27/05
€5
($6)
Existing shareholders including 3i, Alpinvest,
Canaan Partners, CDC Innovation, Nomura Phase
IV Ventures, Philippe Pouletty and CDC participated in the convertible bridge loan financing; a
new management team was named and a relocation to Paris was planned
Endotis
Pharma
Paris
6/20/05
€4
($4.9)
Sofinnova Partners provided the funding for the
company’s Series A financing round
Exiqon A/S
Copenhagen, Denmark
6/2/05
$20
Teknoinvest led the Series C financing round,
which also included Scandinavian Life Science
Venture, Nobel Group, LD Pensions, BioFund and
Danske Bank
GNI Ltd.
Tokyo
6/20/05
$13
GNI raised the money concurrent with its merger
with Shanghai Genomics Inc.; the financing was
led by Nomura, Healthcare Partners and other
U.S. and Japanese private equity firms
iCeutica Inc.
Philadelphia
6/20/05
ND
Phoenix IP Ventures led the company’s Series A
round of financing
Inimex
Vancouver, British
Pharmaceuticals Columbia
Inc.
6/15/05
C$4
($3.2)
Completion of 2005 R&D milestones triggered
release of another C$4M in funds from Series A
investors, which invested C$6M in the company
in July 2004
Innovive
New York
Pharmaceuticals
Inc.
6/29/05
$2.25
The money was raised in a convertible note
financing; Paramount BioCapital Inc. was placement agent
104
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Jazz
Palo Alto, Calif.
Pharmaceuticals
Inc.
6/27/05
$80
Lehman Brothers Principal Investments led the
debt financing Series C round, which closed
along with Jazz’s acquisition of Orphan Medical
Inc.; other investors included General Electric
Pension Trust, Deep Cove Mezzanine LLC and
entities related to Oak Hill Advisors and Oak Hill
Investment Management
Morria BioLondon
pharmaceuticals
plc
6/8/05
£2.1
($3.8)
Financial consultants Charles Street Securities
led the Series A financing round, which followed
a £0.2M private bridge financing
Osiris
Therapeutics
Inc.
Baltimore
6/8/05
$50
The company sold equity and convertible debt
in the financing round; Friedli Corporate Finance
Inc. arranged the financing
Santaris
Pharma A/S
Copenhagen,
Denmark
6/29/05
€4.4
($5.3)
The financing was the first closing of what was
expected to be a €20M second round that
closed later in 2005; investors were BankInvest,
Novo, LD Pension, InnovationsKapital, Dansk
Kapitalanaeg and Dansk Erhvervsinvestering
Somaxon
San Diego
Pharmaceuticals
Inc.
6/6/05
$65
MPM Capital Partners led the Series C round,
which included additional new investor Prospect
Ventures; existing investors Domain Associates
LLC, BA Venture Partners, Montreux Equity
Partners and CDIB BioScience Ventures also participated
Therion
Biologics
Corp.
6/17/05
$30
The financing round was led by Hans-Werner
Hector, and included Loeb Investors, SRK
Management Co. and Cheng Xin Venture Capital
Group
Tioga
San Diego
Pharmaceuticals
6/15/05
ND
Forward Ventures provided Series A financing for
Tioga, which was formed to develop asimadoline,
a product acquired from Merck KGaA
TriMed
Research Inc.
6/20/05
€5
($6)
Inventages Venture Capital Investments Inc. and
Seroba Bioventures participated in the Series A
financing round
6/9/05
$98
The Series A financing included $78M in equity
and $20M in product-specific royalty financing
from Paul Royalty Fund; the equity investment
was led by Domain Associates and Prospect
Venture Partners and included Paul Royalty Fund,
MPM Capital, Montreux Equity Partners, Athenian
Venture Partners, Windamere Venture Partners
and private investors
Cambridge, Mass.
Omaha, Neb.
Verus
San Diego
Pharmaceuticals
Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
105
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Ziopharm
Inc.
Charleston, Mass.
6/6/05
$18.1
Paramount BioCapital Inc. was the lead placement agent in the Series A convertible preferred
stock sale
Affymax Inc.
Palo Alto, Calif.
7/18/05
$60
The Series D financing was co-led by new
investor JAFCO Co. Ltd. and existing investor
Bear Stearns Health Innoventures; also participating were new investors Bessemer Venture
Partners, Merlin BioMed Group and Diamond
Capital Co. and existing investors Apax Partners,
MPM Capital and Sprout Group; Montgomery &
Co. LLC was placement agent
Altea
Therapeutics
Corp.
Atlanta
7/28/05
$30
The Series C financing was led by Aperture
Venture Partners and included Series B investors
Domain, Venrock and vSpring Capital, as well as
KBC, Quilvest, CX Ventures and Rockport
Ventures
APT
Tucson, Ariz.
Pharmaceuticals
Inc.
7/21/05
$6
The Series A financing round was led by new
investor Charter Life Sciences and existing
investor Research Corporation Technologies
BrainCells Inc.
San Diego
7/14/05
$8
Technology Partners and seed investors Oxford
Bioscience Partners and Bay City Capital led the
Series A round, and were joined by A. M. Pappas
& Associates and Neuro Ventures; they will invest
another $9.7M if certain milestones are met
4SC AG
Martinsried, Germany
7/12/05
€6.5
($7.9)
The company’s Series D financing round had two
closings; investors were KfW SME Bank, Bayern
Kapital, Deutsche Venture Capital Gesellschaft,
3i, BioM and Mulligan BioCapital
Ilypsa Inc.
Santa Clara, Calif.
7/19/05
$36
The Series B financing round was co-led by new
investors US Venture Partners, Johnson & Johnson Development Corp. and Delphi Ventures;
also participating were new investors CMEA
Ventures and Mediphase Venture Partners and
existing investors Sprout Group and 5AM
Ventures
Immune
Control Inc.
Conshohocken, Pa.
7/14/05
$1 1.3
Series A financing for the Drexel University spinout was provided by BioAdvance Ventures,
Domain Associates, NewSpring Capital and
Anthem Capital
JULY
106
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
NovaThera
Ltd.
Cambridge, UK
7/12/05
£2.75
($4.8)
The company completed a Series A funding
round of up to £2.75M
Panacea
Gaithersburg, Md.
Pharmaceuticals
Inc.
7/7/05
$7
Investors in the Series C financing included
Mitsubishi Corp. Life Sciences Venture, Olympus,
JSR, Shin-Etsu Chemical, Fuji Photo Film, Dai
Nippon Printing and Tokio Marine & Nichido Fire
Insurance; Cosmos Alliance assisted in the deal
Pepscan
Systems BV
Lelystad, the
Netherlands
7/8/05
€5
($6)
Convertible notes were sold in the company’s
first financing round to Dutch investors PPM
Oost NV, Lupus Ventures BV, Wageningen Business Generator BV, Technofund Flevoland BV and
private and existing investors
Peptimmune
Inc.
Cambridge, Mass.
7/15/05
$20.4
Participating in the Series C round were existing
investors New Enterprise Associates, MPM
Capital, Prism Venture Partners, Vanguard
Ventures, Hunt Ventures LP and Boston Medical
Investors Inc. and new investors Itochu Corp. and
Silicon Valley Bank Capital
Primera
Biosystems
Inc.
Providence, R.I.
7/1 1/05
$1 1
Investing in the Series A preferred stock round
were MPM Capital, Burrill & Co. and the
Malaysian Technology Development Corp.
Protalix
Biotherapeutics
Ltd.
Karmiel, Israel
7/17/05
$5.3
The Series C financing included investments
from Tamares Capital, Docor International BV,
Atara Technology Ventures Ltd. and returning
investors Biocell Ltd., Marathon Investments Ltd.
and private investors
StemCyte
Inc.
Arcadia, Calif.
7/19/05
$13.7
Details on the financing round were not disclosed
Vitae
Fort Washington, Pa.
Pharmaceuticals
Inc.
7/13/05
$15
GlaxoSmithKline plc led the financing round,
following the closing of a collaboration with
Vitae; existing investors also participated
Xention
Discovery Ltd.
7/13/05
£1 1
($20)
The Series B financing round was led by new
investor ABN AMRO Capital and included new
investor Crédit Agricole Private Equity and existing investors MVM, Quester, BTG International,
Isis Equity Partners, Albany Ventures and
Enterprise VCT plc
Cambridge, UK
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
107
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Baltimore
8/23/05
$30
SV Life Sciences and Alta Partners led the Series A
round, which included HealthCap, Red Abbey
Venture Partners, the Maryland Venture Fund
and existing investors Esperance BioVentures,
Astellas Ventures, Maryland TEDCO and Townsend Capital
Alder BioSeattle
pharmaceuticals
Inc.
8/15/05
$1 1.1
The Series A financing was led by Sevin Rosen
Funds and included Ventures West, WRF Capital
and other investors
Atonomics
A/S
Copenhagen,
Denmark
8/1 1/05
€4.5
($5.5)
A second tranche of €4.5M is expected within
two years; investors included Inventages, Murata,
NeuroSearch A/S and Vaekstfonden; NeuroSearch
gained a 20.16% stake in Atonomics in the deal
Avacta Ltd.
Leeds, UK
8/1 1/05
£0.3
($0.54)
IP2IPO Group invested £300,000 in the seed
round of the Leeds University spinout
CellTran Ltd.
Sheffield, UK
8/2/05
£2.7
($4.8)
New investor YFM Group led the funding round,
which included existing investors Biofusion plc
and White Rose Seedcorn Fund and new
investor Partnerships UK plc
Cerenis
Therapeutics
SA
Toulouse, France
8/22/05
$30.5
The Series A financing was led by Sofinnova
Partners and HealthCap, and included Alta
Partners, EDF Ventures and NIF Ventures
Cerexa Inc.
Alameda, Calif.
8/23/05
$50
Cerexa was spun out of Peninsula Pharmaceuticals Inc.; Frazier Healthcare Ventures and New
Leaf Venture Partners co-led the Series A round,
which included Domain Associates, Canaan
Partners, OrbiMed Advisors, A.M. Pappas &
Associates, Montreux Equity Partners, EGS
Heathcare and CDIB BioScience Ventures
Genoptix Inc.
San Diego
8/10/05
$17.3
Chicago Growth Partners joined existing
investors Enterprise Partners, Alliance Technology Ventures, Tullis-Dickerson & Co. Inc., U.S.
Trust’s Excelsior Venture Partners III LLC and
Lotus Bioscience Investment Holdings in the
Series D financing round
8/30/05
$25
Inotek raised $25M in the first tranche of a
planned $35M Series B round, which was led by
Pitango Venture Capital and included existing
investors Care Capital LLC, Rho Ventures and
MedImmune Ventures Inc.
AUGUST
Alba
Therapeutics
Corp.
Inotek
Beverly, Mass.
Pharmaceuticals
Corp.
108
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Intercytex
Ltd.
Cambridge, UK
8/2/05
£12
($21.5)
Existing shareholders Avlar BioVentures, Merlin
Biosciences, 3i, Cambridge Gateway Partnership,
NIF Ventures and Scottish Equity Partners participated in Series C financing round
ISTO
Technologies
Inc.
St. Louis
8/31/05
$10.8
The financing package included equity and
development funds; Zimmer Holdings Inc. led the
financing round, which included Alafi Capital
Co. LLC, Life Science Partners and Mid-America
Transplant Services
Karus
Therapeutics
Ltd.
Southampton, UK
8/1/05
£0.75
($1.35)
The University of Southampton spinout received
seed funding from IP2IPO and the SULIS fund
MIP
Technologies
AB
Lund, Sweden
8/23/05
SEK30
($3.9)
Catella Healthcare Investments AB led the
financing round; Malmahus Invest and company
management also participated
Mpex
San Diego
Pharmaceuticals
Inc.
8/1 1/05
$32
The Series B financing was led by SV Life Sciences
and HBM BioVentures Ltd./HBM BioCapital LP and
included other new investors Aberdare Ventures
and Adams Street Partners and existing investors
Western States Investment Group and Charitable
Leadership Foundation
OncoGenex
Technologies
Inc.
Vancouver,
British Columbia
8/16/05
$12.8
Participating in the company’s third financing
round were existing investors Ventures West,
H.I.G. Ventures, the Working Opportunity Fund
and Business Development Bank of Canada and
new investors WHI Morula Fund LLC and BC
Advantage Funds
Oxford
Immunotec
Ltd.
Oxford, UK
8/3/05
£7
($12.7)
The Series B financing round was led by Prelude
Ventures, and included Quester, the Dow
Chemical Co. and Top Technology
Profos AG
Regensburg, Germany
8/23/05
€5
($6.1)
Bio Fund Management Ltd. led the financing
round; existing shareholders Danisco Venture
A/S and Capital Stage AG also participated
Protez
Malvern, Pa.
Pharmaceuticals
Inc.
8/24/05
$15
The Series B financing round was led by BioAdvance Ventures and Birchmere Ventures and
included L Capital Partners, S.R. One and previous
investor BTG
Regado
Biosciences
Inc.
8/15/05
$20
The Series B financing was co-led by Domain
Associates and Quaker BioVentures and included
Aurora Funds and individual investors
Research Triangle
Park, N.C.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
109
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Speedel Group
Basel, Switzerland
8/4/05
CHF70
($55.5)
Speedel raised CHF70M through a convertible
loan that was subscribed to primarily by existing
investors
TargeGen Inc.
San Diego
8/31/05
$30
The Series C financing round was led by BBiotech
Venture and H&Q Healthcare Capital Management; also participating were existing investors
Forward Ventures, Enterprise Partners, William
Blair Capital Partners/Chicago Growth Partners,
CDP Capital Technology Ventures/VantagePoint
Venture Partners, China Development Industrial
Bank, A.M. Pappas & Associates and others
Tengion Inc.
King of Prussia, Pa.
8/3/05
$39
Among the investors in the Series A round were
Oak Investment Partners, Johnson & Johnson
Development Corp., HealthCap and L Capital
Partners
A&G
Pharmaceutical
Inc.
Columbia, Md.
9/8/05
$2
New England Partners led the Series A financing,
which included the Maryland Venture Fund and
Crocker Capital
Algeta ASA
Oslo, Norway
9/2/05
€23
($28.7)
Participating in the Series A financing were new
investors HealthCap, Advent Venture Partners
and S.R. One and existing investors Selvaag
Venture Capital, NorgesInvestor, Marlin Verdi AS
and several smaller investors
Amicus
Therapeutics
Inc.
Cranbury, N.J.
9/8/05
$55
Quaker BioVentures led the Series C financing
and was joined by existing investors Canaan
Partners, CHL Medical Partners, Frazier Healthcare Ventures, New Enterprise Associates,
Prospect Venture Partners and Radius Ventures
and new investors Palo Alto Investors and the
Garden State Life Sciences Venture Fund
Athenagen Inc.
Menlo Park, Calif.
9/19/05
$3.2
The Series A financing was led by Sanderling
Ventures and included Life Science Angels;
another $2.5M in milestone-driven investments
could be earned within 12 months
Bioheart Inc.
Sunrise, Fla.
9/27/05
$19
Participants in the Series D financing included
Advent-Morro Equity Partners, The ASTRI Group,
Magellan Group, Presidential Capital Partners,
Dan Marino Investments, Minnesota Biomed
Partners, New World Angels and individuals
William P. Murphy and David Gury
SEPTEMBER
110
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
Biolex
Therapeutics
Inc.
Pittsboro, N.C.
9/1/05
$36
The Series B financing was led by Polaris Venture
Partners and included existing investors
Intersouth Partners, Quaker BioVentures, Johnson
& Johnson Development Corp., Mitsui and Co.
Venture Partners and Kitty Hawk Capital
BioLineRx
Ltd.
Jerusalem
9/26/05
$9
Existing investors Giza Venture Capital, Pitango
Venture Capital and Teva Pharmaceuticals
Industries Ltd. committed to follow-on investments
Cellerant
Therapeutics
Inc.
San Carlos, Calif.
9/22/05
$9
Cellerant raised $9M in a second closing of its
Series B round, bringing the total to $25M; in May
it raised $16M in the first closing; participants in
the second closing were Camelot Ventures,
George Rathmann and Eminent Venture Capital
Corp.
Chiasma Inc.
Jerusalem
9/12/05
$6.2
The Series B financing was co-led by F-2 Ventures
and the Ofer Hi-Tech Group; Series A investors
InnoMed Fund and Yissum Ltd. also participated
Dimerix
Bioscience
Pty. Ltd.
Perth, Australia
9/15/05
ND
Foundation Capital led the Series A financing
round, which included the Murdoch Westscheme
Enterprise Partnership Fund; Startpharma Holdings Ltd. now owns 22% of Dimerix
GlobeImmune
Inc.
Denver
9/14/05
$34.3
The Series B round was led by Lilly Ventures and
included other new investors Medica Holdings,
Adams Street Partners, Biogen Idec Inc.,
Genentech Inc., Partners Healthcare and GC&H
Investments and existing investors HealthCare
Ventures LLC, Morgenthaler Ventures and Sequel
Venture Partners
Kereos Inc.
St. Louis
9/20/05
$19.5
New investors Prolog Ventures, Triathlon Medical
Ventures and Charter Life Sciences, along with
existing investor RiverVest Venture Partners,
led the Series B round; also investing were
Barnes-Jewish Hospital, Alafi Capital, Apjohn
Ventures, Harris and Harris Group, Lux Capital,
MB Venture Partners, Sigvion Capital, Vectis Life
Science, Genentech Inc. and Royal Philips
Electronics
9/7/05
$13.9
Investors in the Series A financing round included Latterell Venture Partners, U.S. Venture
Partners, Morgenthaler Ventures and The Vertical
Group
OncoMed
Mountain View, Calif.
Pharmaceuticals
Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
111
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amount
(M)
Details
PanGenetics
BV
Utrecht,
the Netherlands
9/8/05
$2
The seed financing round was led by Index
Ventures
Pervasis
Therapeutics
Inc.
Cambridge, Mass.
9/30/05
$12
The Series B financing round was led by new
investor Highland Capital Partners and included
founding investors Polaris Venture Partners and
Flagship Venture Partners
Replidyne
Inc.
Louisville, Colo.
9/8/05
$62.5
The Series D financing was led by Duquesne
Capital Management, Healthcare Investment
Partners and MDS Life Sciences Technology II
funds and included existing investors HealthCare Ventures, TPG Ventures, Morgenthaler
Ventures, Perseus-Soros BioPharmaceutical Fund,
Sequel Venture Partners, Temasek Holdings Pte.
Ltd. and Quintiles Transnational; Aquilo Partners
Inc. was placement agent
Respirics Inc.
Raleigh, N.C.
9/27/05
ND
Investors participating in the Series A financing
included Catalysta Ventures and Research
Triangle Ventures
RioTech
London
Pharmaceuticals
Ltd.
9/12/05
£0.75
($1.35)
Details on the financing round were not disclosed
SpinX
Technologies
Geneva
9/6/05
€10
($12.4)
The Series B financing round was led by Bio Fund
Management, with participation from existing
investor Index Ventures, as well as from Auriga
Partners, DFJ ePlanet Ventures and the CERN
Pension Fund
Teranode
Corp.
Seattle
9/12/05
$9.5
The Series B round was led by Cargill Ventures
and Trident Capital; Series A investors Ignition
Partners and WRF Capital also participated
Xigen SA
Lausanne,
Switzerland
9/6/05
CHF21
($26)
Investors in the Series A financing round were
Tilocor Life Sciences, Venture Incubator and
Initiative Capital
Aerie
Research Triangle
Pharmaceuticals Park, N.C.
Inc.
10/12/05
$21
The Series A financing round was led by Alta
Partners and Texas Pacific Group Ventures
Alinea
Cambridge, Mass.
Pharmaceuticals
Inc.
10/20/05
$45
The Series A financing was led by MPM Capital
and included SV Life Sciences, Flagship Ventures
and Burrill & Co., which helped structure the deal
OCTOBER
112
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
AM-Pharma
BV
Bunnik, the
Netherlands
10/31/05
€9
($10.8)
Inventages Venture Capital Investments Inc.
invested €6 and ABN-AMRO Life Sciences Capital
invested €3M in the Series B financing round
Cadence
San Diego
Pharmaceuticals
Inc.
10/1 1/05
$25
The Series A financing round was led by Domain
Associates and included ProQuest Investments,
BB Biotech Ventures, CDIB BioScience Venture
Management, Windamere Venture Partners and
private investors
Cardium
Therapeutics
Inc.
10/20/05
$28.5
The money was raised concurrent with a reverse
merger with Aries Ventures Inc. (OTC BB: ARVT)
and the acquisition of cardiovascular product
candidates from Schering AG
Cerimon
South San Francisco
Pharmaceuticals
Inc.
10/26/05
$70
The Series A financing round was led by MPM
Capital, together with Nomura Phase4 Ventures
and OrbiMed Advisors
CODA
Genomics Inc.
Irvine, Calif.
10/5/05
$0.8
Tech Coast Angels provided the investment in
the Series A financing round
Cyclacel plc
Dundee, UK
10/10/05
£5
($8.9)
Scottish Enterprise invested £5 million in the
form of a convertible loan; it is making £2.5 million
more available if matched by the private sector
Epistem Ltd.
Manchester, UK
10/24/05
£1.72
($3)
The company raised £1.72 million through
a private placing by Zeus Capital
ForteBio Inc.
Menlo Park, Calif.
10/26/05
$17.3
The Series B financing round was led by The
Vertical Group; existing investors Agilent
Ventures, Alloy Ventures, Latterell Venture
Partners and Versant Ventures also participated
GlycoFi Inc.
Lebanon, N.H.
10/10/05
$1 1
The financing was an extension of a $10M Series
C financing that closed in December 2003;
participating were existing investors Polaris
Venture Partners, SV Life Sciences, Boston
Millenia Partners, Fletcher Spaght Ventures,
Village Ventures and Borealis Ventures and new
investors International Biotechnology Trust,
Peninsula Equity Partners and Eli Lilly and Co.
Kereos Inc.
St. Louis
10/14/05
$0.5
Advantage Capital Partners added $0.5M to the
$19.5M Series B round completed in September
Kinexis Inc.
Carlsbad, Calif.
10/14/05
$0.9
InvestBio Ventures AmpliMed GP made the
investment in Kinexis
San Diego
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
113
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Light Sciences
Oncology Inc.
Seattle
10/12/05
$35
The company was spun out of Light Sciences
Corp. in connection with the Series A financing;
Essex Woodlands Health Ventures led the round,
which included Adams Street Partners, Johnson
and Johnson Development Corp., China Development Industrial Bank and Larkspur Capital Corp.,
which acted as adviser in the deal
Marinus
Branford, Conn.
Pharmaceuticals
Inc.
10/25/05
$29.4
The Series A financing round was led by Domain
Associates, Sofinnova Ventures and Canaan
Partners; Foundation Medical Partners and private investors also participated
Molecular
Profiling
Institute Inc.*
Phoenix
10/28/05
$7.5
Investing the Series B financing round were
AmeriPath, Affymetrix Inc. and Gen-Probe Inc.
Opal
Therapeutics
Inc.
Melbourne,
Australia
10/25/05
$6
The Series A financing was led by GBS Venture
Partners, and included Alloy Ventures, Alta
Partners and Uniseed
Predicant
Biosciences
South San Francisco
10/1 1/05
$7.5
Hercules Technology Growth Capital Inc. provided $7.5 million of debt financing to Predicant
ProNAi
Therapeutics
Inc.
Kalamazoo, Mich.
10/19/05
$4.25
ProNAi raised $2.5M in a Series A financing that
included Biosciences Research Commercialization Center at Western Michigan University,
Apjohn Ventures and the Grand Angles; it also
raised $1.75M from a convertible note from the
state of Michigan’s Technology Tri-Corridor
Raven
South San Francisco
Biotechnologies
Inc.
10/12/05
$48.3
The Series D round was led by new investor
Vulcan Capital and included new investors
Biogen Idec New Ventures, CIDC Consultants Inc.
and Mitsubishi UFJ Capital Co. Ltd. and existing
investors Bear Stearns Health Innoventures LP,
Pequot Ventures, Singapore’s BioMedical Sciences
Investment Fund Pte. Ltd., Integra Ventures, U.S.
Venture Partners, CMEA Ventures, Hambrecht &
Quist Capital Management LLC, Milepost
Ventures and Cogene Ventures
Serenex Inc.
Durham, N.C.
10/6/05
$30
The Series C financing round was led by Ritchie
Capital and included existing investors Intersouth Partners, Lilly Ventures, Mediphase Venture
Partners, Takeda Research Investment and
Seaflower Ventures
Stokes Bio Ltd.
Cork, Ireland
10/12/05
€1
($1.2)
The first-round funding was provided by Kernel
Capital Partners
114
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Surface Logix
Inc.
Boston
10/28/05
$32
Surface Logix closed on $32M of a planned $42M
Series D round; the other $10M is contingent on
reaching milestones; participating were existing
investors Venrock Associates, Arch Venture
Partners, CW Group, HBM Partners, TIAA-CREF,
Healthcare Focus Fund and Intel Capital and new
investor Unilever Technology Ventures
Tessera Inc.
Seattle
10/3/05
$8.5
The company completed a Series B financing
round
The Vaccine
Co. LP
New York
10/21/05
$14
InvestBio Ventures raised $14M of a planned
$20M investment in the company; InvestPrivate
Inc. was placement agent in the deal
Tigris
New York
Pharmaceuticals
Inc.
9/22/05
$1 1.6
The company completed a Series A financing
round, which included the conversion of about
$1.6M of previously issued debt
Topigen
Montreal
Pharmaceuticals
Inc.
10/6/05
C$6
($5.1)
The C$6M second closing brought the Series B
total to C$28.6; Caisse de depot et placement du
Quebec invested in the second closing
TransOral
Corte Madera, Calif.
Pharmaceuticals
Inc.
10/28/05
$23
The Series C round was led by New Leaf Venture
Partners and included InterWest Partners,
Montreux Equity Partners, Peninsula Equity
Partners, Hamilton BioVentures and Vivo
Ventures
Trigen
Holdings AG
London
10/1 1/05
€26.5
($31.7)
The second-round financing was co-led by
Wellington Partners, HealthCap and 3i and included SR One, Quintiles PharmaBio Development,
Quest for Growth, BIT, Merifin and others
VirXsys Corp.
Gaithersburg, Md.
10/1 1/05
$31
The company completed the final closing of its
Series F financing round
Xencor Inc.
Monrovia, Calif.
10/18/05
$20
The Series D financing round was led by Zen
Investments
New York
1 1/29/05
$8
Canaan Partners and Wheatley Partners co-led
the Series B financing, which also included existing investors; Walter Greenblatt & Associates LLC
was financial adviser
NOVEMBER
Advanced
BioHealing Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
115
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Alimera
Sciences Inc.
Atlanta
1 1/30/05
$31.8
The Series B financing round was led by Venrock Associates and included original investors BA
Venture Partners, Domain Associates, Intersouth
Partners and Polaris Venture Partners
Antisense
Pharma GmbH
Regensburg, Germany
1 1/30/05
$18
The investment was provided by German MIG
funds
CeNeRx
BioPharma Inc.
Research Triangle
Park, N.C.
1 1/29/05
$18.5
The Series A financing round was led by PerseusSoros BioPharmaceutical Fund, with participation
from L Capital Partners, A.M. Pappas & Associates
and Wistar Morris
CytImmune
Sciences Inc.
Rockville, Md.
1 1/15/05
$5
The financing was a combination of a private
investment and state funding from Maryland’s
Department of Business and Economic Development
Edison
San Jose, Calif.
Pharmaceuticals
Inc.
1 1/29/05
$2.8
The Series A round was led by Paul Avery
4SC AG
1 1/30/05
€10.16
($1 1.9)
The pre-listing financing entailed the sale of
about 2.4M shares at €4.24 per share; Conrad
Hinrich Donner Bank AG coordinated the deal
Fovea
Paris
Pharmaceuticals
SA
1 1/7/05
€20.5
($24.5)
The Series A financing round was led by
Sofinnova Partners and included Abingworth
Management, The Wellcome Trust, GIMV and
Credit Agricole Private Equity
Gene-IT Inc.
Worcester, Mass.
1 1/30/05
$4.1
The Series A financing was led by Cross Atlantic
Partners and Milestone Venture Partners, and
included Société Générale Asset Management
Alternative Investments
Guava
Technologies
Inc.
Hayward, Calif.
1 1/29/05
$7
The financing was provided by existing investors
Abingworth Life Science Investment, Granite
Global Ventures, HLM Venture Partners, MDS
Capital Corp., ProQuest Investments and Skyline
Ventures
1 1/17/05
$10
Inotek raised $10M in the second tranche of a
$35M Series B financing; $25M was raised In
August; new investors included Caisse de depot
et placement du Quebec and Pitango Venture
Capital
Martinsried, Germany
Inotek
Beverly, Mass.
Pharmaceuticals
Corp.
116
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
IntegraGen
SA
Evry, France
1 1/17/05
€8
($9.4)
Investors in the Series B financing round included CDC Enterprises Innovation, AGF Private
Equity, Bioam, SGAM Alternative Investments and
Baytech Venture Capital
iQur Ltd.
Southampton, UK
1 1/8/05
£2.6
($4.5)
Details on the £2.6 follow-on financing were not
disclosed; the company formerly was named
HepCgen Ltd.
Lentigen Corp.
Baltimore
1 1/30/05
ND
The company secured undisclosed seed and Series
A financing from Greenwich Biotech Ventures
Mersana
Therapeutics
Inc.
Cambridge, Mass.
1 1/8/05
$21
Fidelity Biosciences and ProQuest Investments
led the financing round; also participating were
Rho Ventures and previous investors PureTech
Ventures, Cape Family Fund LLC, Harris & Harris
Group Inc. and Lansing Brown Investments LLC
NuPathe Inc.
Conshohocken, Pa.
1 1/8/05
$0.5
BioAdvance, the Biotechnology Greenhouse of
Southeastern Pennsylvania, led the seed funding
round
OncoMethylome Leige, Belgium
Sciences SA
1 1/2/05
€15
($17.7)
The Series B financing round was led by Edmond
de Rothschild Investment Partners; existing
investors ING Belgium, Life Sciences Partners,
PolyTechnos Venture-Partners, Meusinvest and
Technowal also participated
Portola
South San Francisco
Pharmaceuticals
Inc.
1 1/8/05
$46
The Series B financing round was led by
Advanced Technology Ventures; also participating were Alta Partners and previous investors
Abingworth Management, Frazier Healthcare
Ventures, MPM Capital, Prospect Ventures and
Sutter Hill Ventures
PTC
Therapeutics
Inc.
1 1/10/05
$26.6
The financing was led by existing investors
Credit Suisse First Boston Private Equity and HBM
BioVentures, with participation from Vulcan
Ventures, Novo A/S, Delphi Ventures, Bay City
Capital, Novartis BioVentures, Amgen Ventures
and HealthCap
Rincon
San Diego
Pharmaceuticals
Inc.
1 1/15/05
$4.7
The financing was led by Paperboy Ventures
Spear
Therapeutics
Ltd.
1 1/28/05
$8.5
Advent International invested in the financing
round
South Plainfield, N.J.
London
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
117
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Syntaxin Ltd.
Salisbury, UK
1 1/15/05
£3
($5.2)
Abingworth Management Ltd. invested in the
company, which was spun out from the UK
Health Protection Agency
Vital
Therapies Inc.
San Diego
1 1/1/05
$8
MedVenture Associates led the first closing of a
Series B financing; also participating were Valley
Ventures, Paragon Venture Partners, Toucan
Capital and individual investors
Acologix Inc.
Hayward, Calif.
12/20/05
$25.3
Participating in the Series C financing were
existing investors Tokio Marine & Nichido Fire
Insurance Co. Ltd., JAIC America and Nomura
Research and Advisory Co. Ltd. and new
investors Nomura Securities Co. Ltd. and UOB
JAIC Venture Bio Investments Ltd.
AngioChem
Inc.
Laval, Quebec
12/12/05
C$6
($5.2)
The financing was led by BDC Venture Capital
and VIMAC Milestone Medica Fund
BioAxone
Therapeutic
Inc.
Montreal
12/19/05
$5.1
The $5.1M tranche completed a second-round
funding of $12.15M; investors were T2C2/Bio2000,
Solidarity Fund QFL, Desjardins Venture Capital
and Lothian Partners 27 SARL; the initial tranche
was completed in July 2002
Celladon
Corp.
La Jolla, Calif.
12/7/05
$30
The Series B financing was led by new investors
Kleiner Perkins Caufield & Byers and Domain
Associates; existing investors Enterprise Partners
Venture Capital and Venrock Associates also participated
Cellartis AB
Gothenburg, Sweden
12/13/05
€8
($9.6)
New investor Bio Fund Management Ltd. led the
financing round, which included existing
investors InnovationsKapital, Catella Healthcare
Investments, T-bolaget, Texcel and Barnwik AB
Domantis
Ltd.
Cambridge, UK
12/1 1/05
£17
($29)
New investors Novo Nordisk and MC Life Science
Ventures Inc. joined existing investors in the
Series B financing round
Gastrotech
Pharma A/S
Copenhagen,
Denmark
12/6/05
€2.3
($2.7)
Bioscience Managers Ltd. and Nordic Biotech
participated in the financing round
DECEMBER
118
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Hypnion Inc.
Lexington, Mass.
12/19/05
$20.1
Investors in the extension of a Series B financing
round included MPM Capital, Advanced Technology Ventures, Forward Ventures, Flagship
Ventures, Oxford Bioscience Partners, GIMV, S.R.
One Ltd., JAFCO, Alexandria Real Estate Equities
and Mintz Levin Investments; $47.5M was raised
in the first Series B tranche in March 2003
ImaRx
Therapeutics
Inc.
Tucson, Ariz.
12/16/05
$15
Details on the financing were not disclosed
InsectiGen
Atlanta
12/12/05
$1.2
Investing in the financing round were Georgia
Venture Partners Seed Fund, the Georgia
Biosciences Seed Capital Fund and individuals
KeyNeurotek
AG
Magdeburg,
Germany
12/13/05
€7.75
($9.3)
The financing was completed along with the
merger with Sirenade Pharmaceuticals AG;
DVC Deutsche Venture Capital led the round,
which included IBG Beteiligungsgesellschaft
Sachsen-Anhalt and tbg/KfW
Light Sciences
Oncology Inc.
Seattle
12/14/05
$32
The $32M was a second closing of the Series A
round; the first closing of $35M was completed
in October; investing in the second closing were
Essex Woodlands Health Ventures, Scandinavian
Life Science Venture, Novo A/S and New Science
Ventures
NeurogesX
Inc.
San Carlos, Calif.
12/1/05
$20
Investing in the extension of the Series C round
were MC Life Science Ventures, MunMun International Ltd., Saudi Venture Development Co. and
existing investors ARCH Venture Partners, Alta
Partners, Montreux Equity Partners, Global LifeScience Ventures and Walden International
Venture Partners
Optimer
San Diego
Pharmaceuticals
Inc.
12/14/05
$22.4
Investing in the Series D financing round were
ProQuest Investments, Lurie Investments, BB
Biotech Ventures, SB Life Science Ventures, UOB
JAIC Venture Bio Investments, China Development Industrial Bank, ESun Bank Group, Fubon
Financial Holding Venture, Global Strategic
Investments, Oriental Union Chemical Corp. and
Taiwan Global BioFund
Osiris
Therapeutics
Inc.
12/21/05
$19
The financing round was arranged by Friedli
Corporate Finance Inc.
Baltimore
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
119
2005 Venture Capital And Other Financings Of Private Biotechnology Firms (Continued)
Company
Location
Date
Amt. (M)
Details
Santhera
Liestal, Switzerland
Pharmaceuticals
AG
12/20/05
CHF25
($19)
Investors in the Series B financing included NGN
Capital, Oxford Bioscience Partners, Varuma AG,
Merlin Bioscience Ltd., 3i Group plc, Carnegie
Asset Management, GIMV, the Novartis Venture
Fund, Dow Chemical Co., Clariden Biotechnology
Fund, Heidelberg Innovation and the Swiss
Foundation for Research of Muscle Disease
Solazyme
Inc.
Menlo Park, Calif.
12/21/05
ND
The Roda Group invested in the financing round,
details of which were not disclosed
Therion
Biologics Corp.
Cambridge, Mass.
12/27/05
$50
Therion secured a $50M line of credit from
Hans-Werner Hector, providing funding for the
company into 2007
Notes:
ND = Not disclosed.
120
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Milestones And Equity Investments From Corporate
Partners (Ongoing Alliances)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Abgenix Inc.
(ABGX)
Amgen Inc.
(AMGN)
ND
Milestone
payment
Triggered by Amgen’s advancement into
clinical trials of an undisclosed antibody created using Abgenix’s XenoMouse technology
(1/13)
Abgenix Inc.
(ABGX)
Chiron Corp.
(CHIR)
ND
Milestone
payment
Triggered by Chiron’s filing of an IND for a
fully human antibody, CHIR-12.12, targeting
CD40 that was created using Abgenix’s XenoMouse technology (1/12)
Abgenix Inc.
(ABGX)
Human Genome
Sciences Inc.
(HGSI)
ND
Milestone
payment
Triggered by HGS’ filing of an IND for a fully
human antibody to the CCR5 receptor created
using Abgenix’s XenoMouse technology (1/10)
Alnylam
Merck & Co. Inc.
Pharmaceuticals
Inc.*
$7
Milestone
payment
$5M of the payment was made in stock and
$2M in cash; it was triggered by development
of in vivo RNAi technology to a prespecified
level of performance (1/3)
ArQule Inc.
(ARQL)
Wyeth
ND
Milestone
payments
Payments were triggered by Wyeth beginning
development of a compound for Alzheimer’s
disease and for progress on a compound for
rheumatoid arthritis (1/10)
Avant Immunotherapeutics
Inc. (AVAN)
GlaxoSmithKline
plc (UK)
$2
Milestone
payment
The acceptance for review by European regulatory authorities of a marketing application
for the Rotarix rotavirus vaccine triggered the
milestone (1/6)
Galapagos
Genomics NV*
(Belgium)
Boehringer
Ingelheim GmbH
(Germany)
ND
Milestone
payment
BI licensed targets in viral replication that
were discovered using Galapagos’ SilenceSelect gene knockdown platform (1/20)
Karo Bio AB
(Sweden;
SSE:KARO)
Merck & Co. Inc.
ND
Milestone
payment
Triggered by initiation of clinical trials for the
most advanced compound from their collaboration focused on estrogen receptors (1/21)
NeuroSearch
A/S (Denmark;
CSE:NEUS)
Boehringer
Ingelheim GmbH
(Germany)
$5
Milestone
payment
Triggered by continued development of
NS2330 for treating Alzheimer’s and Parkinson’s diseases; it is in Phase II trials (1/24)
JANUARY
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
121
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Novogen Ltd.
(Australia; NVGN)
Solae LLC
$0.86
Milestone
payment
The milestone was paid as part of its license
to certain Novogen soy isoflavone technology
(1/18)
Pharmos Corp.
(PARS)
Bausch & Lomb
$12.1
Milestone
payment
Triggered by B&L’s launch of Zylet, which was
part of the loteprednol etabonate business
Pharmos sold to B&L in 2001 (1/23)
Regeneron
Sanofi-Aventis
Pharmaceuticals Group (France)
Inc. (REGN)
$25
Milestone
payment
The payment was made in connection with
clinical development of VEGF Trap in cancer
indications (1/10)
Vernalis plc
(UK; VNLS)
Serono SA
(Switzerland;
NYSE:SRA)
ND
Milestone
payment
Triggered by Serono’s initiation of a Phase I
trial of their selective inhibitor of MMP-12,
which is being developed for inflammatory
diseases (1/19)
Affitech A/S*
(Norway)
Peregrine
Pharmaceuticals
Inc. (PPHM)
ND
Milestone
They are collaborating on antibodies that
block VEGF; it was not clear if the milestone triggered a payment (2/14)
Affitech A/S*
(Norway)
Viventia
Biotech Inc.
(Canada; TSE:VBI)
ND
Milestone
payment
Triggered by Affitech’s discovery and selection
of several cancer antibodies, and the subsequent screening of them using Viventia’s
antibody profiling platform (2/2)
Astex
Technology
Ltd.* (UK)
Boehringer
Ingelheim GmbH
(Germany)
ND
Milestone
payment
Astex achieved the first milestone in a collaboration under which it is applying its Pyramid
technology for drug discovery (2/14)
Cardiome
Pharma Ltd.
(Canada; CRME)
Fujisawa
Healthcare Inc.
$6
Milestone
payment
Triggered by completion of ACT 1, the first of
three Phase III trials of Cardiome’s antiarrhythmic product, intravenous RSD1 235
(2/23)
Cellular
Genomics Inc.*
Serono SA
(Switzerland;
NYSE:SRA)
ND
Milestone
payment
Triggered by successful development of CGI’s
in vivo models for kinase drug discovery
under their collaboration (2/15)
A$0.72
($0.56)
Milestone
payment
ChemGenex reached a research milestone in
its depression target discovery program with
Vernalis (2/23)
FEBRUARY
ChemGenex
Vernalis plc
Pharmaceuticals (UK; VNLS)
Ltd. (Australia;
(ASX:CXS)
122
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Diversa Corp.
(DVSA)
Syngenta AG
(Switzerland)
$0.5
Milestone
payment
Diversa successfully delivered to Syngenta
multiple qualified enzyme candidates for use
as animal feed additives (2/14)
Ligand
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc. (LGND)
$1
Milestone
payment
Triggered by GSK’s start of Phase II trials of SB4971 15, a small-molecule drug that mimics the
activity of thrombopoietin, which promotes
production of blood platelets (2/7)
Medarex Inc.
(MEDX)
Amgen Inc.
(AMGN)
ND
Milestone
payment
Triggered by Amgen’s advancement into clinical trials of an antibody developed using
Medarex’s UltiMAb technology (2/24)
MorphoSys
AG (Germany;
FSE:MOR)
GPC Biotech
AG (Germany; CPGB)
ND
Milestone
payment
Triggered by GPC’s initiation of a Phase I trial
of the anticancer monoclonal antibody
1D09C3, which was generated using MorphoSys’ technology (2/1)
Nastech
Pharmaceutical
Co. Inc. (NSTK)
Questcor
Pharmceuticals
Inc.
$2
Milestone
payment
Triggered by FDA approval of Nascobal Nasal
Spray for treating vitamin B-12 deficiency; Nastech sold rights to Questor in 2003 (2/1)
Nautilus
Serono SA
Biotech* (France) (Switzerland;
NYSE:SRA)
ND
Milestone
payment
A milestone was reached in a collaboration to
develop a next-generation human growth hormone with an improved pharmacological profile (2/22)
Phytopharm
plc (UK; LSE:PYM)
Yamanouchi
Pharmaceutical
Co. Ltd. (Japan)
£4
($7.7)
Milestone
payment
Triggered when a trial of PYM50028 (Cogane)
for Alzheimer’s disease in 60 subjects met
safety criteria set out in their licensing
agreement (2/28)
Santarus
Inc. (SNTS)
TAP
Pharmaceutical
Products Inc.
$10
Milestone
payment
Santarus said it is entitled to the payment
after prevailing in an alternative dispute resolution proceeding concerning a June 2002
sublicensing agreement (2/15)
TopoTarget
A/S* (Denmark)
CuraGen Corp.
(CRGN)
ND
Milestone
payment
Triggered by initiation of Phase II trials of
PXD101 in multiple myeloma (2/1)
$8
Equity
investment
Kos and its chairman each invested $4M;
Kos owns 27% of the company, with which
it has been collaborating on chemical entities
that regulate HDL cholesterol; another $4M
each would be paid in 18 months if milestones
are reached; a consortium led by Kos’
chairman owns 48% of Triad (2/7)
Triad
Kos
Pharmaceuticals Pharmaceuticals
Inc.*
Inc. (KOSP)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Dynavax
Technologies
Corp.
ND
Milestone
payment
BioSeek used its BioMAP Systems to characterize the biological activity of a family of TNFalpha inhibitors known as thiazolopyrimidines for Dynavax (3/2)
Caprion
Abbott
Pharmaceuticals Laboratories
Inc.* (Canada)
ND
Milestone
payment
Triggered by Abbott’s acceptance of the final
data set of tumor antigen targets that were
discovered by Caprion (3/21)
Curis Inc.
(CRIS)
ND
Milestone
payment
Triggered by progress in preclinical development of Hedgehog pathway agonists for
treating stroke, neurological and other disorders under their 2004 deal (3/23)
Enanta
Shionogi & Co.
Pharmaceuticals Ltd. (Japan)
Inc.*
ND
Milestone
payment
Triggered by Shiongi’s initiation of Phase I
trials in Japan for the community antibiotic
EP-013420 (3/14)
Icagen Inc.
(ICGN)
Yamanouchi
Pharmaceutical
Co. Ltd. (Japan)
ND
Milestone
payment
Triggered by selection of a compound for
advanced preclinical studies from their collaboration in dementia (3/15)
ImmunoGen
Inc. (IMGN)
Sanofi Aventis
Group (France)
$2
Milestone
payment
Triggered by Sanofi Aventis’ initiation of
clinical testing of the anti-CD33 TumorActivated Prodrug compound huMy9-6-DM4,
which it licensed from ImmunoGen (3/17)
InKine
Pharmaceutical
Co. Inc. (INKP)
Zeria
Pharmaceutical
Co. Ltd. (Japan)
$1
Milestone
payment
Triggered by Zeria’s submission of a new drug
application in Japan for use of sodium phosphate tablets as a colonic purgative, bowel
cleansing agent or laxative (3/29)
Maxygen
Inc. (MAXY)
Hoffmann-La
Roche Inc.
ND
Milestone
payment
The payment was triggered by progress in
their collaboration to develop improved
interferon alpha protein therapeutics to treat
hepatitis C virus (3/30)
Millennium
Johnson & Johnson
Pharmaceuticals Pharmaceutical
Inc. (MLNM)
Research and
Development LLC
$20
Milestone
payments
Two $10M payments were triggered by
achievement of thresholds in year-to-date
Velcade sales outside the U.S. (3/7)
Millennium
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc. (MLNM)
$19.9
Milestone
payment
Triggered by the successful transfer of the
central marketing authorization of Integrrilin
in Europe to GSK and related activities (3/7)
MARCH
BioSeek Inc.*
124
Wyeth
Pharmaceuticals
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
NeuroSearch
A/S (Denmark;
CSE:NEUS)
GlaxoSmithKline
plc (UK)
€10
($13)
Milestone
payment
Triggered by GSK’s decision to initiate a
Phase II trial of NS2359 (GSK372475) for the
treatment of depression (3/29)
Orphan Medical
Inc. (ORPH)
UCB Pharma
(Belgium)
$1
Milestone
payment
Triggered by submission of a supplemental
NDA to the FDA seeking approval of Xyrem
for reducing excessive daytime sleepiness
and improving fragmented sleep in narcolepsy patients (3/21)
Proteome
Systems
(Australia; ASX:
PXL)
High Q
Foundation
$0.3
Milestone
payment
Triggered by identification of the first candidate biomarkers for Huntington’s disease in
clinical samples of plasma and cerebrospinal
fluid (3/31)
Seattle
Genetics Inc.
(SGEN)
Genentech
Inc.
ND
Milestone
payment
The milestone is based on Genentech’s preclinical progress in development of an antibody-drug conjugate using Seattle Genetics’
technology (3/15)
Supratek
Pharma Inc.*
(Canada)
Bioaccelerate
Holdings Inc.
$5
Equity
investment
Bioaccelerate made a $5M equity investment
in Supratek, with which it is developing cancer
drugs (3/24)
Vicuron
Novartis
Pharmaceuticals Pharma AG
Inc. (MICU)
(Switzerland)
ND
Milestone
payment
Triggered by follow-up lead product candidates by Novartis from collaboration focused
on peptide deformylase inhibitors (3/4)
Zealand
Sanofi Aventis
Pharmaceuticals Group (France)
A/S* (Denmark)
ND
Milestone
payment
Triggered by Sanofi’s successful completion
of Phase IIa trials of AVE0010, a GLP-1 agonist
it licensed from Zealand (3/3)
$10.5
Warrants
exercise
Celgene exercised 7M warrants at $1.50 each
that it received in a December 2002 deal in
which EntreMed licensed its thalidomide analogue program to Celgene (4/1)
Ligand
TAP
Pharmaceuticals Pharmaceuticals
Inc. (LGND)
Products Inc.
$1.5
Milestone
payment
Triggered by TAP’s submission of an IND to
evaluate LGD2941, a product from their collaboration, for treating osteoporosis and frailty
(4/4)
Maxim
Myriad
Pharmaceuticals Genetics Inc.
Inc. (MAXM)
$1
Milestone
payment
Triggered by dosing of the first patient in
Myriad’s Phase I program to evaluate safety
and pharmacokinetics of MPC-6827 in
patients with advanced solid tumors (4/27)
APRIL
EntreMed
Inc. (ENMD)
Celgene
Corp.
(CELG)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
125
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Pharmacopeia
Inc. (PCOP)
Schering-Plough
Corp.
ND
Milestone
payment
Triggered by Schering-Plough’s initiation of
preclinical development of a small-molecule
drug candidate identified in their collaboration targeted at inflammatory disease (4/13)
Active Biotech
AB* (Sweden)
Avidex Ltd.*
(UK)
ND
Milestone
payment
Triggered by initiaton of Phase I trials of
RhuDex in rheumatoid arthritis (5/9)
Array
BioPharma
Inc. (ARRY)
Amgen Inc.
(AMGN)
$1
Milestone
payment
The research milestone payment resulted
from their January 2002 drug discovery
agreement (5/10)
Atugen AG*
(Germany)
Schering AG
(Germany)
ND
Milestone
payments
Atugen said it has achieved nine milestones
under its target validation deal with Schering;
financial details were not disclosed (5/9)
Celgene
Corp. (CELG)
Novartis Pharma
AG (Switzerland)
ND
Milestone
payments
Triggered by Novartis gaining FDA approval
to market Focalin XR extended-release capsules for treating attention deficit hyperactivity disorder (5/27)
Cytos
Biotechnology
AG (Switzerland;
SWX:CYTN)
Novartis Pharma
AG (Switzerland)
ND
Milestone
payment
Triggered by approval in Sweden for Novartis
to start a Phase I trial of the Immunodrug
CAD106, an immunotherapeutic for treating
Alzheimer’s disease (5/18)
Exelixis Inc.
(EXEL)
GlaxoSmithKline
plc (UK)
$35
Milestone
payments
A $30M milestone was triggered by submission of INDs for the cancer agents XL880,
XL820 and XL844; a $5M milestone payment
was triggered by progress in earlier-stage
programs in their collaboration (5/9)
GW
Bayer Healthcare
Pharmaceuticals AG (Germany)
plc (UK; LSE:GWP)
£1
($1.8)
Milestone
payment
Triggered by approval in Canada of Sativex
for symptomatic relief of neuropathic pain in
multiple sclerosis (5/1 1)
Memory
F. Hoffmann-La
Pharmaceuticals Roche Ltd.
Corp. (MEMY)
(Switzerland)
$2
Milestone
payment
Roche made the milestone payment to maintain its option to obtain an exclusive license
to MEM 3454, a nicotinic alpha-7 receptor agonist in Phase I trials (5/3)
Myogen Inc.
(MYOG)
ND
Milestone
payments
Myogen achieved three milestones related to
progress in validation of high-throughput
assays in their 2003 collaboration focused
on drugs for cardiovascular disease (5/26)
MAY
126
Novartis AG
(Switzerland)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Neose
Technologies
Inc. (NTEC)
Novo Nordisk
A/S (Denmark)
ND
Milestone
payment
Neose received a scheduled payment under
their 2003 deal to apply Neose’s GlycoPEGylation technology to a Novo protein (5/13)
Pharmacopeia
Drug Discovery
Inc. (PCOP)
NV Organon
(the Netherlands)
ND
Milestone
payment
Triggered by Organon’s initiation of toxicological studies of a development candidate
from the collaboration (5/25)
Rigel
Daiichi
Pharmaceuticals Pharmaceuticals
Inc. (RIGL)
Co. Ltd. (Japan)
ND
Milestone
payments
The two payments were triggered by Daiichi’s
selection of two small-molecule compounds
from their August 2002 collaboration to identify candidates against a ligase target for
cancer indications (5/5)
SkyePharma
plc (UK; SKYE)
First Horizon
Pharmaceutical
Corp.
$15
Milestone
payment
Triggered by FDA approval of Triglide, a
formulation of the cardiovascular product
fenofibrate; First Horizon has marketing rights
(5/9)
Sucampo
Takeda
Pharmaceuticals Pharmaceutical
Inc.*
Co. Ltd. (Japan)
$20
Milestone
payment
Triggered by initiation of a Phase III trial of
lubiprostone in constipation-predominant irritable bowel syndrome (5/16)
JUNE
Archemix
Corp.*
Eyetech
Pharmaceuticals
Inc. (EYET)
ND
Milestone
payment
Eyetech selected a preclinical candidate from
their 2004 collaboration; it is an aptamer
directed against platelet-derived growth factor for use in neovascular age-related macular
degeneration (6/22)
Avantogen
Ltd. (Australia;
ASX:ACU)
Endocyte Inc.*
ND
Milestone
payment
Triggered by Avantogen’s submission of a
drug master file to the FDA for the vaccine
adjuvant GPI-0100, for use in treating kidney
cancer (6/15)
Codexis Inc.*
Pfizer Inc.
ND
Milestone
payment
Codexis reached a milestone in their July
2004 deal focused on applying Codexis’
process R&D platform to certain Pfizer small
molecules (6/1)
Depomed Inc.
(DEPO)
Biovail Corp.
(Canada)
$25
Milestone
payment
Triggered by receipt of an approval letter from
the FDA for Glumetza for treating Type II diabetes (6/3)
Diversa
Corp. (DVSA)
XOMA Ltd.
(XOMA)
ND
Milestone
payment
Triggered by successful generation of an antibody that binds with sub-picomolar affinity to
an undisclosed XOMA target (6/1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
127
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Evotec OAI
AG (Germany;
FSE:EVT)
Boehringer
Ingelheim
GmbH (Germany)
ND
Milestone
payment
Triggered by identification of a number of
lead series for a priority target in their collaboration (6/7)
Innate
Pharma SAS*
(France)
Novo Nordisk
A/S (Denmark)
ND
Milestone
payment
The milestone relates to an antibody candidate specific for an NK cell receptor discovered
under their November 2003 alliance (6/20)
Ligand
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc. (LGND)
$2
Milestone
payment
Triggered by GSK’s filing of an IND for SB559448, a small-molecule drug that mimics
the activity of thrombopoietin (6/6)
NeoPharm
Inc. (NEOL)
Unnamed
private biotech
company
$0.35
Milestone
payment
NeoPharm provided customized NeoPhectin
(liposomal) formulations for the partner’s
compounds (6/23)
Sareum
Holdings plc
(UK; AIM:SRA)
Undisclosed
UK-based
company
ND
Milestone
payment
Triggered by delivery of structural data under
their December 2004 collaboration (6/30)
Speedel Group*
(Switzerland)
Locus
Pharmaceuticals
Inc.*
ND
Milestone
payment
Speedel produced a series of lead compounds
(SPP800 series) under their 2003 collaboration on renin inhibitors for treating cardiovascular and metabolic diseases (6/16)
Arena
Merck & Co. Inc.
Pharmaceuticals
Inc. (ARNA)
$2
Milestone
payment
Triggered by Merck’s initiation of a Phase I
trial of an oral drug candidate for treating atherosclerosis and related disorders (7/26)
Diversa
Corp. (DVSA)
DuPont
Bio-Based Materials
$0.5
Milestone
payments
Two milestones were met relating to delivery
by Diversa of candidate enzymes under their
biorefinery program that exceeded performance targets set by the Department of Energy
(7/1 1)
Emisphere
Technologies
Inc. (EMIS)
Hoffmann-La
Roche Inc.
ND
Milestone
payment
Roche began a clinical trial using Emisphere’s
eligen delivery technology under their deal to
develop oral formulations of a Roche smallmolecule compound for treating bone-related
diseases (7/5)
454 Life
Sciences
(majority owned
by CuraGen
Corp.; CRGN)
F. HoffmannLa Roche Ltd.
(Switzerland)
$1 1.5
Milestone
payments
454 achieved all initial milestones under a
May 2005 deal in which Roche is selling 454’s
Genome Sequencing Systems (7/26)
JULY
128
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2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Inovio
Biomedical
Corp. (AMEX:INO)
Merck & Co. Inc.
$2
Milestone
payment
Merck reached a clinical milestone on a plasmid-based vaccine using Inovio’s MedPulser
DNA Delivery System under their May 2004
collaboration (7/13)
Ligand
Eli Lilly and Co.
Pharmaceuticals
Inc. (LGND)
$1.6
Milestone
payment
Triggered by Lilly’s initiation of Phase II studies on LY674, a peroxisome proliferation activated receptor modulator for the treatment of
atherosclerosis (7/13)
Onyx
Bayer
Pharmaceuticals Pharmaceuticals
Inc. (ONXX)
Corp.
$10
Milestone
payment
Triggered by the submission of an NDA with
the FDA for sorafenib (BAY 43-9006) for treating advanced renal-cell carcinoma (7/1 1)
Transgene SA
(France; TRGNY)
ND
Milestone
payment
Triggered by Phase I trials by Merck of a vaccine constructed with Transgene’s homologous recombination technology (7/21)
Anadys
Novartis AG
Pharmaceuticals (Switzerland)
Inc. (ANDS)
$10
Milestone
payment
Triggered by FDA acceptance of the IND to
start testing ANA975, an oral Toll-like receptor
7 agonist for treating hepatitis C (8/18)
Cenix
Bayer HealthCare
BioScience
AG (Germany)
GmbH* (Germany)
ND
Milestone
payment
The payment stemmed from delivery by Cenix
of a collection of potential therapeutic targets
under its deal with Bayer (8/9)
Human Genome
Sciences Inc.
(HGSI)
GlaxoSmithKline
plc (UK)
$7
Milestone
payments
HGSI got payments for reaching manufacturing and preclinical development milestones on
the diabetes candidate GSK716155 (formerly
Albugon), which is covered under a 2004 deal
(8/1)
MorphoSys
AG (Germany;
FSE:MOR)
Novartis AG
(Switzerland)
ND
Milestone
payment
MorphoSys successfully generated fully
human antibodies against a cancer-related
target molecule under their 2004 deal (8/8)
Osiris
Therapeutics
Inc.*
JCR
Pharmaceuticals
Co. Ltd. (Japan)
ND
Milestone
payment
A milestone was met in an August 2003 deal
that granted JCR rights in Japan to a stem cell
drug for graft-vs.-host disease (8/4)
Pharmasset
Inc.*
Incyte Corp.
(INCY)
ND
Milestone
payment
Triggered when Reverset exceeded the goal in
reducing HIV viral load in a trial called Study
203 (8/23)
Merck & Co. Inc.
AUGUST
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2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
7TM Pharma
A/S* (Denmark)
Johnson &
Johnson Development
Corp.
ND
Equity
investment
7TM and J&J are collaborating on development
of oral compounds for treating asthma and
allergic diseases; terms of the investment
were not disclosed (8/18)
TopoTarget
A/S (Denmark;
CSE:TOPO)
CuraGen
Corp.
(CRGN)
$4.8
Milestone
payment
The milestone was paid for extending a Phase
II trial of the histone deacetylase inhibitor
PXD10 1 in multiple myeloma to the U.S.
(8/9)
$4
Milestone
payment
Triggered by FDA approval of Fortical calcitonin-salmon nasal spray for treating postmenopausal osteoporosis (8/15)
ND
Milestone
payment
Triggered by Adolor’s initiation of a Phase II
trial of a sterile lidocaine patch trademarked
by EpiCept as LidoPAIN SP (9/26)
Indevus
Esprit Pharma
Pharmaceuticals Inc.
Inc. (IDEV)
$10
Milestone
payment
Triggered by initiation of the Phase III program for Sanctura XR in patients with overactive bladder (9/8)
TransTech
Pharma Inc.*
Novo Nordisk
A/S (Denmark)
ND
Milestone
payment
Triggered by progress made with a drug candidate in their collaboration using TransTech’s
small-molecule discovery technology (9/22)
Merck & Co. Inc.
ND
Milestone
payment
Triggered by Abmaxis’ optimization of an
undisclosed Merck human monoclonal antibody (10/18)
Acadia
Allergan
Pharmaceuticals Inc.
Inc. (ACAD)
ND
Milestone
payment
Triggered by the start of an initial exploratory
Phase II trial in their neuropathic pain program
(10/3)
Acusphere
Inc. (ACUS)
Nycomed Danmark
A/S (Denmark)
$0.15
Milestone
payment
The payment is the first of what could be
$58M in milestone-based license fees for
progress in development of AI-700, an ultrasound agent (10/24)
CepTor Corp.
(OTC BB:CEPO)
JCR
Pharmaceuticals
Co. Ltd. (Japan)
$1.5
Milestone
payment
Triggered by the filing of an investigational
new drug application for Myodur (C-101) in
muscular dystrophy; $1M of the payment was
in equity and $500,000 cash (10/20)
Unigene
Upsher-Smith
Laboratories
Laboratories
Inc. (OTC BB:UGNE) Inc.
SEPTEMBER
EpiCept
Corp.*
Adolor Corp.
OCTOBER
Abmaxis Inc.*
130
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2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Codexis
Inc.*
Pfizer Inc.
ND
Milestone
payment
Triggered by the second technical milestone
in deal to generate biocatalysts for the manufacture of Pfizer’s products (10/4)
Discovery
Partners
International
Inc. (DPII)
Allergan Inc.
ND
Milestone
payments
Triggered by identification of lead compounds
from their multitarget drug discovery collaboration; the therapeutic focus was not disclosed (10/31)
Flamel
Technologies
SA (France; FLML)
GlaxoSmithKline
plc (UK)
$2
Milestone
payment
Triggered by successful Phase III trial results
on a controlled-release formulation of an
already marketed GSK drug using Flamel’s
Micropump technology (10/26)
454 Life
Sciences
(majority owned
By CuraGen
Corp.; CRGN)
Roche
Diagnostics
(Switzerland)
$7.5
Milestone
payment
Triggered by the commercial launch by Roche
Applied Science of the Genome Sequencer 20
System and reagents from 454 (10/7)
Novexel*
(France)
Sanofi-Aventis
Group (France)
ND
Milestone
payment
Triggered by the start of a Phase I trial of NXL
103, an oral antibiotic for which Sanofi holds a
development option (10/3)
Orexo AB*
(Sweden)
Endo
Pharmaceuticals
Inc.
$6.5
Milestone
payment
Triggered by successful completion of a dosefinding trial of Rapinyl (OX 20) for managing
breakthrough cancer pain (10/3)
Pozen Inc.
(POZN)
GlaxoSmithKline
plc (UK)
$20
Milestone
payment
The milestone was triggered by the FDA’s
acceptance for review of the new drug application for the migraine product Trexima (10/1 1)
Discovery
Partners
International
Inc. (DPII)
Seikagaku Corp.
(Japan)
ND
Milestone
payment
Triggered by Seikagaku’s advancement of a
compound identified by DPI in their collaboration to the next stage of development (1 1/9)
Metabolex
Inc.*
Astellas Pharma
Inc. (Japan)
ND
Milestone
payment
Triggered by Astellas’ selection of additional
validated targets for drug screening and
development in their collaboration (1 1/8)
Medarex Inc.
(MEDX)
Bristol-Myers
Squibb Co.
ND
Milestone
payment
Triggered by advancement into clinical trials
of BMS-66513, a fully human antibody that targets CD137 developed using Medarex technology (1 1/15)
NOVEMBER
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131
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Micromet
AG * (Germany)
MedImmune
Inc. (MEDI)
ND
Milestone
payment
Triggered by Micromet’s generation of BiTE
molecules against a MedImmune oncology
target (1 1/21)
Neose
Technologies
Inc. (NTEC)
Novo Nordisk
A/S (Denmark)
ND
Milestone
payment
The payment stems from November 2003
deal to use Neose’s GlycoPEGylation technology to develop next-generation versions of
already-marketed therapeutic proteins (1 1/21)
Vical Inc.
(VICL)
Merck & Co. Inc.
$1
Milestone
payment
Triggered by Merck’s initiation of a Phase I
trial of a DNA cancer vaccine based on Vical’s
DNA gene delivery technology (1 1/8)
ND
Equity
investment
SeqWright is making an undisclosed follow-on
investment in VisiGen (1 1/2)
VisiGen
SeqWright Inc.
Biotechnologies
Inc.*
DECEMBER
Cerep SA
(France;
Nouveau
Marche:CERF)
Bristol-Myers
Squibb Co.
ND
Milestone
payment
Triggered by entry into Phase I trial of a
second LFA-1 antagonist, being developed for
immuno-inflamatory disorders (12/14)
Critical
Therapeutics
Inc. (CRTX)
MedImmune
Inc. (MEDI)
$1.25
Milestone
payment
Triggered by preclinical progress in their deal
to develop fully human monoclonal antibodies for rheumatoid arthritis and sepsis (12/8)
Cytokinetics
Inc. (CYTK)
GlaxoSmithKline
plc (UK)
$0.5
Milestone
payment
Triggered by GSK’s selection of a small-molecule development candidate, GSK-923295,
against a mitotic kinesin target from their
2001 collaboration (12/13)
Dyax Corp.
(DYAX)
Genzyme Corp.
(GENZ)
$3
Milestone
payment
Triggered by initiation of a pivotal Phase III
trial of Dyax’s DX-88 in patients with hereditary angioedema (12/8)
Enanta
Shionogi & Co.
Pharmaceuticals Ltd. (Japan)
Inc.*
ND
Milestone
payment
Triggered by the start of Phase II trials in Japan
of the antibiotic EDP-420 (EP-013420; S-13420)
(12/20)
Evotec AG
(Germany;
FSE:EVT)
Takeda
Pharmaceutical
Co. Ltd. (Japan)
ND
Milestone
payment
The payment was triggered by target identification and validation work related to a target
in Alzheimer’s disease (12/6)
Flamel
Technologies
SA (France; FLML)
GlaxoSmithKline
plc (UK)
$2
Milestone
payment
Triggered by GSK’s submission of an NDA on
a controlled-release formulation of a marketed GSK drug using Flamel’s Micropumptechnology (12/21)
132
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Milestones And Equity Investments From Corporate Partners (Ongoing Alliances) (Continued)
Company
(Symbol)#
Partner
(Country)
Amt.
(M)
Triggering
Event
Details (Date)
Genmab A/S
(Denmark; CSE:
GEN)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
ND
Milestone
payment
Roche filed an IND for a Genmab antibody
developed under their deal; it was ninth milestone reached by Genmab in their collaboration (12/13)
Lexicon
Genetics Inc.
(LEXG)
Genentech
Inc. (NYSE:DNA)
$20
Milestone
payments
Lexicon earned the payments for progress
in programs related to Genentech’s Secreted
Protein Discovery Initiative and delivery of
data on target identification (12/20)
Maxygen Inc.
(MAXY)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
$5
Milestone
payment
The milestone from their 2003 deal to develop improved interferon alpha protein therapeutics for hepatitis C was triggered by undisclosed progress (12/14)
Medivir AB
(Sweden; SSE:
MVIRB)
Tibotec
Pharmaceuticals
Ltd. (Ireland)
€5
($6)
Milestone
payment
Triggered by progress in preclinical development in their collaboration to develop drugs
for treating heaptitis C virus (12/29)
Onyx
Bayer
Pharmaceuticals Pharmaceuticals
Inc. (ONXX)
Corp.
$10
Milestone
payment
Triggered by FDA approval of their drug
Nexavar (sorafenib) for treating advanced
renal cell carcinoma (12/20)
Perlegen
Sciences Inc.*
$50
Equity
investment
The $50M investment gave Pfizer 1 2% of
Perlegen; it also agreed to invest up to $25M
more in Perlegen’s IPO if the IPO completes in
2006 (12/27)
Sunesis
Biogen Idec
Pharmaceuticals Inc. (BIIB)
Inc. (SNSS)
$0.5
Milestone
payment
Triggered by progress relating to the discovery of Raf kinase inhibitors for treating cancer, from their September 2004 deal (12/7)
Vernalis plc
(UK; VNLS)
$1.5
Milestone
payment
Triggered by Novartis’ selection of a development candidate from the collaboration on the
oncology target Hsp90 (12/19)
$19.5
Milestone
payments
Two milestones were triggered: Phase I
data from a trial of the cancer agent VX-680
(MK-0457) and from Merck’s selection of a
follow-on compound for development (12/7)
Pfizer Inc.
Novartis AG
(Switzerland)
Vertex
Merck & Co. Inc.
Pharmaceuticals
Inc. (VRTX)
Notes:
# Unless otherwise indicated, shares are traded on the Nasdaq exchange.
* Private company.
Currency conversions are based on exchange rates at the time of the deal.
ND = Not disclosed.
FSE = Frankfurt Stock Exchange; AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian
Stock Exchange; CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange;
NYSE = New York Stock Exchange; OTC BB: Over-the-Counter Bulletin Board; SSE = Stockholm Stock Exchange;
SWX = Swiss Stock Exchange; TSE = Toronto Stock Exchange.
133
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies
Company
(Symbol)
Funding
Institution
Amount
(M)
Type
Details (Date)
Aastrom
Biosciences
Inc. (ASTM)
National Institutes
of Health
$0.79
Phase II SBIR grant
To support development of the
AastromReplicell System for
large-scale manufacturing of
cell-based products (10/18)
Aastrom
Biosciences
Inc. (ASTM)
National Institute
of Diabetes and
Digestive and
Kidney Diseases
$0.416
Phase II SBIR grant
The grant will be used to support
use of the company’s tissue
repair cells in bone formation
and vascularization (8/16)
Achillion
Pharmaceuticals
Inc.*
National Institute
of Allergy and
Infectious Diseases
ND
Phase I SBIR grant
The grant will support Achillion’s
program for identifying smallmolecule HIV capsid assembly
inhibitors, and to further characterize capsid inhibition as an HIV
treatment method (5/2)
Acumen
Pharmaceutical
Inc.*
National Institute
on Aging
ND
SBIR grant
To develop a diagnostic to test
levels of amyloid-beta-derived
diffusible ligands from patients
with Alzheimer’s disease (8/1 1)
Adenosine
Therapeutics
LLC*
Department of
Health and Human
Services
$2
Phase I/II SBIR grant
The grant will support completion of Phase I and II trials of ATL146e to prevent cardiac reperfusion injury (7/7)
Adenosine
Therapeutics LLC*
National Institutes
of Health
$0.14
Phase I SBIR grant
The grant will fund the development and testing of A2A antagonists for treating Parkinson’s disease (2/17)
AdipoGenix
Inc.*
National Institute
of Diabetes and
Digestive and
Kidney Diseases
ND
Phase I SBIR grant
For use in a collaboration with
ChemDiv Inc. to further progress
small molecules that target
human fat tissue for treating
obesity and Type II diabetes
(6/23)
Affectis
Pharmaceuticals
AG* (Germany)
German Ministry
of Research and
Education and the
state of Bavaria
€2.2
($2.6)
Grants
The ministry is providing €1.7M
for development of a depression
drug that targets a specific ion
channel; a Bavaria program is
providing €0.5M for discovery of
genes involved in depression
and anxiety (10/18)
134
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Affectis
Pharmaceuticals
AG* (Germany)
German
government
€0.75
($1)
Grant
The funds will be used to advance
the company’s discovery and
development programs, particularly its depression program (1/31)
Akubio Ltd.* (UK)
Army Medical
Research Institute
of Infectious
Diseases
$3
Joint development
program
The parties will use $3M in funding from the U.S. National Institute of Allergy and Infectious
Diseases to develop enhanced
systems for the detection of
bioterrorism agents based on
Akubio’s acoustic biosensor
technology (5/17)
Alchemia Ltd.
(Australia; ASX:ACL)
Australian
government
A$7.8
($6)
Pharmaceuticals
Partnerships
Program grant
The grant entitles Alchemia up to
A$7.8M over three years for its
programs if it meets forecast R&D
spending for the period (3/31)
Alnylam
Pharmaceuticals
Inc. (ALNY)
Department
of Defense
ND
Funding support
The funds will support development of RNAi therapeutics for
pandemic influenza (12/14)
Alnylam
Pharmaceuticals
Inc. (ALNY)
Michael J. Fox
ND
Foundation for
Parkinson’s Research
Grant
The grant will support work on
the use of small interfering RNAs
to silence alpha-synuclein, the
overexpression of which has
been linked to Parkinson’s disease (8/15)
Alnylam
Pharmaceuticals
Inc. (ALNY)
Cystic Fibrosis
Foundation
Therapeutics Inc.
$1.5
Funding award
Alnylam will apply RNAi technology to the discovery of short
interfering RNAs to restore protein function in CF (3/16)
AlphaVax Inc.*
National Institute
of Allergy and
Infectious Diseases
$3.3
Grant
The funding will be used for
preclinical development of a vaccine for smallpox (10/19)
AlphaVax Inc.*
National Institute
of Allergy and
Infectious Diseases
$6.5
Grant
The three-year award will support the preclinical development
of an influenza vaccine using the
company’s vaccine technology,
the AlphaVax replicon vector
system (4/18)
Altachem
Pharma Ltd.
(Canada; TSE:AAF)
National Research
Council (Canada)
C$0.445
($0.371)
Industrial Research
Assistance Program
support
The funding will support development of Altachem’s photodynamic therapy for prostate
cancer (1/5)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
135
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Altor
BioScience Corp.*
National Cancer
Institute
ND
Phase I SBIR grant
The grant will support development of Altor’s processes for
making therapeutic antibodies in
transgenic lettuce (7/21)
Amarillo
Biosciences Inc.
(OTC BB:AMAR)
National Institutes
of Health
$0.104
Phase I SBIR grant
The grant will be used to further
develop a vaccine to combat
Helicobacter pylori (5/5)
Angel Biotechnology
Ltd.* (UK)
Undisclosed
£275,000 R&D grants
($502,595)
Two grants will support Rapid
Recombination technology and
Angel’s antiviral antibody program (5/24)
Argos
Therapeutics
Inc.*
Ontario Cancer
Research Network
$0.57
Grant
McMaster University got the
grant to fund a clinical trial of
Argos’ RNA-loaded dendritic cell
vaccine technology in chronic
lymphocytic leukemia (1 1/8)
Argos
Therapeutics Inc.*
Alliance for
Lupus Research
$1
Grant
For development of a therapeutic
antibody product for systemic
lupus erythematosis based on
research conducted at Baylor
Institute for Immunology Research (2/2)
Ark Therapeutics
Group plc* (UK)
Employment and
€2.19
Economic Develop($2.5)
ment Center of Finland
Grant
Funding will support the company’s investment in GMP manufacturing facility in Kuopio, Finland (1 1/3)
Artemis
Pharmaceuticals
GmbH* (Germany)
German
government
€1.3
($1.6)
Grant
The grant will support work from
Artemis and RiNA GmbH to
develop methods to knock down
human disease-related genes in
the rat via RNA interference
(7/19)
Asklepios
BioPharmaceutical
Inc.*
North Carolina
Biotechnology
Center
$0.15
Small Business
Research Award
The loan will be used to develop
a gene therapy treatment for
congestive heart failure (3/8)
Atom Sciences
Inc.*
National Institute
of Allergy and
Infectious Diseases
$0.1
Phase I SBIR grant
The grant will support development of a diagnostic tool for
tuberculosis using a method
called Limited Primer Extension
(4/21)
136
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Avant Immunotherapeutics Inc.
(AVAN)
National Institutes
of Health
$0.374
Subcontract from
Harvard Medical School
Avant got a portion of the $0.5M
Harvard grant to develop a
VitriLife formulation of its cholera
vaccine CholeraGarde (7/18)
Biofactura Inc.*
Maryland
Technology
Development Corp.
ND
TEDCO investment
The funds will support its collaboration with USAMRIID for development of therapeutics for
poxviruses (4/21)
Biolog Inc.*
National Institute
of Allergy and
Infectious Diseases
ND
Phase I SBIR grant
The grant from the Biodefense
Program will be used to develop
Phenotype MicroArray technology as a tool in antimicrobial
research (3/1)
BioPort Corp.*
Department of
Health and Human
Services
$122.7
Project BioShield
contract
The contract calls for BioPort to
manufacture 5 million doses of
anthrax vaccine for use in the
federal stockpile (5/6)
BioVisioN AG*
(Germany)
German Federal
€0.56
Ministry of Education ($0.69)
and Research
BioChancePLUS
program grant
BioVision will apply it Peptidomics technologies to analyze substrates and products of proteases in vivo (8/4)
Bioxel Pharma
Inc. (Canada;
CDNX:BIP)
Natural Sciences
and Engineering
Research Council
of Canada
C$0.273
($0.234)
Funding support
The funding is to support formulation development of anticancer
drugs; it will take the form of a
grant, with installments paid
upon completion of development milestones (12/16)
Blue Heron
Biotechnology
Inc.*
National Human
Genome Research
Institute
ND
Phase I SBIR grant
The grant funds development of
protein bead technology for
studying protein function (9/15)
Blue Heron
Biotechnology
Inc.*
National Institute
of General Medical
Science and the
NIAID
ND
Phase I SBIR grant
The grant funds development of
molecular biological tools to enable research on genes that are
difficult to grow in bacteria (9/8)
Bolder
BioTechnology
Inc.*
National Institute
of General
Medical Sciences
$0.122
Phase I SBIR grant
Bolder will optimize the pharmacological properties of an enzyme,
butyrylcholinesterase, which is
capable of inactivating toxic
nerve agents (10/10)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
137
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Bolder
BioTechnology
Inc.*
National Cancer
Institute
$0.122
Phase I SBIR grant
To evaluate the company’s longacting gamma interferon analogue for treating ovarian cancer
in animal models (8/12)
Bolder
BioTechnology
Inc.*
National Institute
of Allergy and
Infectious Diseases
$0.99
Phase I SBIR grant
The grant will support work to
improve the properties of gamma
interferon for stimulating the
immune system to fight infections (5/18)
Bolder
BioTechnology
Inc.*
National Institute
of Arthritis and
Musculoskeletal
and Skin Diseases
$0.1
Phase I SBIR grant
The grant supports work to optimize a human protein to enhance
its ability to inhibit formation
of new blood vessels; the target
is rheumatoid arthritis (1/20)
Bolder
BioTechnology
Inc.*
National Institute
of Diabetes and
Digestive and
Kidney Diseases
$0.5
Phase I SBIR grant
The two-year grant will be used
on preclinical work for an erythropoiesis-stimulating protein,
which is being developed for
anemia (1/13)
Bolder
BioTechnology
Inc.*
National Institute
of Allergy and
Infectious Diseases
$0.303
Phase I SBIR grant
The grant will be used on preclinical work for the firm’s longacting growth hormone product
(1/12)
Callisto
Pharmaceuticals
Inc. (AMEX:KAL)
National Institute
of Allergy and
Infectious Diseases
$0.89
Biodefense
Partnerships grant
To develop a monoclonal antibody and vaccine against bacterial superantigen toxins, which
have potential for use as bioweapons (4/1)
Cambria
Biosciences LLC*
National Institutes
of Health
$0.7
Three Phase I
SBIR grants
Grants from the National Institute of Neurological Disorders
and Stroke and the National
Institute of Environmental Health
Sciences (NINDS) will support
development of disease models
for stroke, and an NINDS grant
will support work to elucidate
the molecular sites of action of
riluzole in treating amyotrophic
lateral sclerosis (2/1 1)
138
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Cambridge
Biostability Ltd.*
(UK)
National Institute
of Allergy and
Infectious Diseases
$3.5
Grant
The company is getting funding
from a grant awarded to DVC LLC
for development of stable multivalent vaccine formulations to
provide protection against botulism (2/28)
Carrington
Laboratories
Inc. (CARN)
National Institute
of Allergy and
Infectious Diseases
$0.463
Biodefense grant
Carrington subsidiary DelSite
Biotechnologies Inc. will use the
second year of funding to continue evaluating its GelVac system
to nasally deliver antigens associated with common infectious
diseases (4/14)
CellCentric
Ltd.* (UK)
National
Endowment for
Science, Technology
and the Arts (UK)
£0.15
($0.27)
Funding support
The funding will be used to
increase discovery capacity for
epigenetic-related cancer targets
and therapeutics (9/5)
Cellzome Inc.*
and Santhera
Pharmaceuticals
AG* (Switzerland)
German Ministry
of Research and
Education
€2.2
($2.6)
Grants
Cellzome and Santhera’s Graffinity
will use funding to support
discovery of treatments for
immune system disorders (10/12)
Ceragenix
Pharmaceuticals
Inc. (OTC BB:CGXP)
National Institutes
of Health
$1.2
Grant
To study the role of the skin’s
barrier function as it relates to
eczema vaccinatum, a potentially
fatal complication of smallpox
vaccination (8/17)
Cerus Corp.
(CERS)
National Institute
of Allergy and
Infectious Diseases
$2.8
Contract
Cerus is getting $2.8M as part of
a consortium to develop a prophylactic vaccine against the
bacterium that causes tularemia;
the total contract is $23M (10/5)
ChemDiv Inc.*
National Institutes
of Health
$9
Grant
ChemDiv and research teams in
New Mexico got the three-year
grant to develop the New Mexico
Molecular Library Screening
Center (7/1 1)
Chiron Corp.
(CHIR)
Department
of Health and
Human Services
$62.5
Contract
Chiron won a contract to supply
the U.S. government with prepandemic influenza vaccine for a
stockpile to protect against the
H5N1 avian influenza virus strain
(10/27)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
139
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
ChondroGene
Ltd. (Canada;
CDNX:CDG)
National Research
Council (Canada)
ND
Industrial Research
Assistance Program
funding
The funding will support development of a blood-based molecular
diagnostic assay for osteoarthritis (3/16)
CODA
Genomics Inc.*
National Institute
of Allergy and
Infectious Diseases
$0.5
STTR grant
CODA and the University of California at Irvine will use the grant
to expand synthetic gene assembly and protein expression technologies (9/1)
CollaGenex
Pharmaceuticals
Inc. (CGPI)
National Institutes
of Health
$0.962
Grant
The two-year grant will support
research into the anti-inflammatory effects of incyclinide (Col-3),
a compound currently in Phase II
trials for treating acne (1 1/9)
CombiMatrix
Group (CBMX)
U.S. Air Force
$0.338
Contract
One-year contract to develop and
produce microarrays to detect
pathogens that cause upper
respiratory infections and pathogens that infect wounds (9/28)
CombinatoRx
Inc.*
National Institute
of Allergy and
Infectious Diseases
$4.4
Cooperative
research grant
CombinatoRx will get up to $4.4M
to discover combinations of
approved small-molecule drugs
that block the adverse effects of
anthrax lethal toxin; it would
own resulting products (4/13)
Copernicus
Therapeutics
Inc.*
Cystic Fibrosis
Foundation
Therapeutics Inc.
$0.75
Extension of
award
The award extension will support Phase II advancement of
Copernicus’ nonviral nanoparticle gene therapy for CF; the total
award is $1.03M (1/20)
Crucell NV
(the Netherlands;
CRXL)
Dutch Ministry
of Economic Affairs
€2
($2.4)
Senter grant
The grant supports an effort to
apply MAbstract technology to
the discovery of antibodies to
assist in the development of
drugs against antibiotic-resistant
bacteria (9/16)
Crucell NV (the
Netherlands; CRXL)
and Harvard
Medical School
National Institutes
of Health
$19.2
Grant
The funds will support development of adenovirus vector-based
vaccines against HIV/AIDS;
about $8M is earmarked for
development of Crucell’s AdVac
technology (8/1)
140
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Crucell NV
(the Netherlands;
CRXL)
National Institute
of Allergy and
Infectious Diseases
$27.6
Manufacturing
contract
Crucell will manufacture up to 10
batches of clinical material of the
PER.C6-based Ebola vaccine for
use in Phase I and early Phase II
trials (4/14)
Crucell NV
(the Netherlands;
CRXL)
Department
of Health and
Human Services
ND
Subcontract award
Crucell partner Sanofi Pasteur
was awarded a $97M contract
from HHS to develop a PER.C6based cell-culture influenza vaccine; Crucell is a subcontractor
for the work (4/1)
CureLab Inc.*
National Institutes
of Health
ND
Phase I SBIR grant
The grant will support development of a vaccine against the
influenza virus; CureLab said
funding is expected to eventually total $7M (8/1)
Cyprotex plc
(UK; LSE:CRX)
Department of
Trade & Industry
(UK)
ND
Grant
The grant will be used to extend
Cyprotex’s predictive technologies used in the invention of new
drugs (10/26)
DCV
Technologies
Inc.*
National Cancer
Institute
$0.1
Grant
For preclinical research on the
company’s dendritic-cell immunotherapy in ovarian cancer (6/14)
Deltagen Inc.
(PK:DGENQ)
National Institutes
of Health
ND
Contract award
Deltagen will provide knockout
mice to NIH and its partners (10/5)
DermTech
International*
University of
California
$0.138
Discovery grant
For research on a product for the
non-invasive diagnosis of early
stage melanoma (6/23)
Diatos NV*
(Belgium)
Flemish Institute
for Science and
Technology
€0.65
($0.87)
Grant
The money will be used to apply
Tumor-Selective Prodrug technology to development of cytokine prodrugs with antitumor
activity (2/16)
Dimerix
Bioscience Pty.
Ltd.* (Australia)
AusIndustry
(Australia)
A$0.2
($0.15)
Commercial Ready
grant
The grant will support development of a new class of drugs targeting G protein-coupled receptors (5/1 1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
141
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Diversa Corp.
(DVSA)
Department
of Defense
$4.8
Biodefense
contracts
A $2.5M contract will support the
second year of Diversa’s “Rapid
Antibody-Based Biological Countermeasures” program; a $2.3M
contract funds the second year
of its “Enzyme-Based Active
Decontamination” of chemical
and biological agents program
(3/9)
Domantis Ltd.*
(UK)
European
Union
N/A
Grant
Domantis and 13 others got a
€9M grant as part of the Bloodomics Consortium, which is focused
on finding targets and drugs for
cardiovascular diseases (1/24)
DVC LLC
Department
(unit of Computer
of Defense
Sciences Corp.; NYSE:CSC)
$19.6
Contract award
DVC will lead a collaboration that
includes Baxter Healthcare Corp.
to develop plasma-derived human
butyrylcholinesterase for protecting against the toxic effects of
certain chemical warfare agents
(4/13)
Dynavax
Technologies
Corp. (DVAX)
Alliance for
Lupus Research
$0.5
Grant
Dynavax will explore new treatment approaches for lupus
using its immunoregulatory
sequences technology (1/10)
Edison
Pharmaceuticals Inc.*
Friedreich’s
Ataxia Research
Alliance
$3
Grant
The grant will be used to
advance development of EPIA000 1 for treating Friedreich’s
ataxia (1 1/8)
Edison
Pharmaceuticals Inc.*
Friedreich’s Ataxia
Research Alliance
$0.3
Grant
Funding will support work at
Edison in Friedreich’s ataxia
(10/25)
Edison
Pharmaceuticals Inc.*
Muscular Dystrophy
Foundation
ND
Funding support
Funding will support work at
Edison in Friedreich’s ataxia
(10/20)
Elusys
Therapeutics
Inc.*
National Institute
of Allergy and
Infectious Diseases
and the Department
of Defense
$5.4
Funding awards
The funding will support development of Anthim, an antibody
therapeutic for preventing and
treating
anthrax
infection;
$4.4M came from the NIAID and
$1M from the DOD (8/3)
142
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Encore
Pharmaceuticals
Inc.*
National Institute
on Aging
$0.75
Phase II SBIR grant
To support work with the Oklahoma Medical Research Foundation on a drug candidate for amyotrophic lateral sclerosis and
Huntington’s disease (8/9)
EntreMed
Inc. (ENMD)
Susan G. Komen
Breast Cancer
Foundation
ND
Grant
Duke University got the grant to
test EntreMed’s Panzem (2ME2)
in combination therapies for
metastatic breast cancer (6/29)
Epitome
Biosystems*
National Science
Foundation
$0.5
Phase II SBIR grant
Epitome will develop an antibody
array that will integrate the
measurement of phosphoproteins from three cell-signaling
pathways into a single assay system (10/17)
EpiVax Inc.*
National Institutes
of Health
$0.6
Phase I SBIR grant
The grant will be used to develop
a genome-derived, epitopedriven Helicobacter pylori vaccine (4/27)
ESA Biosciences
Inc. (subsidiary of
Magellan Biosciences
Inc.*)
National Institutes
of Health
ND
Roadmap Initiative
grant
ESA will extend and integrate
electrochemical and mass spectrometric technologies to facilitate a range of metabolomics
studies (3/24)
FASgen Inc.*
National Institutes
of Health
$2.1
SBIR grant
Funds will support completion of
preclinical work on small-molecule
drugs for obesity and related
metabolic disorders (10/1 7)
FASgen Inc.*
National Institutes
of Health
$0.5
Grant
The grant will support completion of final preclinical work for
the company’s FAS20013 tuberculosis candidate (5/13)
4SC AG*
(Germany)
Federal Ministry
of Education and
Research (Germany)
€2.9
($3.65)
BioChancePLUS
program grant
The 2.5-year funding will support
development of drug candidates
for treating autoimmune diseases particularly multiple
sclerosis (5/10)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
143
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Galapagos NV
(Belgium; Euronext:
GLPG) and
Amsterdam Molecular Therapeutics
BV* (the Netherlands)
Dutch government
€2
($2.4)
Senter grant
The companies will work with
the Netherlands Institute for
Brain Research and the Vrije
Universiteit Amsterdam to develop treatments for acute spinal
cord and peripheral nerve damage (9/14)
Galapagos NV
(Belgium; Euronext:
GLPG)
Dutch Ministry of
Economic Affairs
€1.2
($1.5)
Grant
To support a drug discovery program in arthritis that includes
ZoBio BV, Pyxis Discovery BV and
Leiden University (8/10)
Galenea Corp.*
National Institute
of Allergy and
Infectious Diseases
ND
Phase I SBIR grant
For further development of the
company’s siRNA product G00101
against
multiple
influenza
strains, including avian flu (1 1/17)
Genaera Corp.
(GENR)
Cystic Fibrosis
Foundation
Therapeutics Inc.
$2.35
Therapeutics
Development Award
CFFT is supporting a pivotal
Phase II trial in Ireland of Lomucin in CF patients through milestone-driven matching funds
(4/18)
GeneGo Inc.*
National Institute
of General
Medical Science
ND
Phase II SBIR grant
To further develop the computational tool MetaDrug to improve
the prediction of ADME and toxicology properties of novel smallmolecule compounds (8/3)
GeneGo Inc.*
Department
of Defense
ND
SBIR grant
The grant will support development of a systems biology suite
of tools for visualization and
analysis of proteomic data (6/27)
GeneGo Inc.*
National Institute
of General Medical
Science
ND
Phase I SBIR grant
The grant will support development of methodologies to reconstruct functional networks affected in common human diseases
(6/13)
GeneGo Inc.*
National Institute
of Environmental
Health Sciences
ND
Phase I SBIR grant
The grant is for the elucidation
and analysis of signaling and
metabolic networks implicated
in cellular response to drugs and
toxins (5/24)
144
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
GeneGo Inc.*
National Cancer
Institute
ND
Phase I SBIR grant
GeneGo will use its systems biology platform to elucidate and
analyze cellular networks implicated in breast cancer (2/7)
Genencor
International Inc.
(unit of Danisco
A/S; Denmark)
Department
of Defense
$2
Contract
Genencor will work with the U.S.
Army Edgewood Chemical and
Biological Center to develop an
enzyme-based decontamination
solution targeting chemical and
biological warfare agents (10/31)
Genencor
International
(unit of Daniso
A/S; Denmark)
Defense Advanced
Research Projects
Agency
ND
Grant
To develop a process for the
rapid manufacture of emergency
pharmaceuticals to defend
against biological agents (8/29)
Gene Network
Sciences*
National Heart,
Lung and
Blood Institute
$0.138
Phase I SBIR grant
The grant will be used to further
the company’s efforts in cardiac
modeling and in silico safety
testing (7/26)
Gene Network
Sciences*
National Heart,
Lung and Blood
Institute
$0.2
Phase I SBIR grants
Two six-month, $100,000 grants
will support development of a
simulation platform and software
for cardiac modeling (2/2)
Genomic Profiling
Systems Inc.*
National Institute
of Allergy and
Infectious Diseases
$4.1
Phase II SBIR grant
Three-year grant to develop a
testing platform for rapid and
ultra-sensitive diagnosis of
anthrax (8/12)
GenPat77*
(Germany)
German Ministry
of Research and
Education
ND
BioChancePLUS
program grant
The grant will support development of its immunomodulator
program in inflammatory bowel
disease (10/1 1)
GenVec Inc.
(GNVC)
National Institute
of Allergy and
Infectious Diseases
$9.9
Subcontract award
from SAIC-Frederick
contract
GenVec got increased funding
for its HIV vaccine development
work with the Vaccine Research
Center of the NIAID (10/5)
GenVec Inc.
(GNVC)
Department of
Defense
$1.6
Contract award
GenVec will manufacture an
adenovector-based malaria vaccine candidate for the U.S. Naval
Medical Research Center (2/20)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
145
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
GenVec Inc.
(GNVC)
National Institute
of Allergy and
Infectious Diseases
$10
Extension
of subcontract
The institute’s Vaccine Research
Center will use GenVec’s technologies in the development of an
HIV vaccine (1/12)
GPC Biotech
AG (Germany; GPCB)
and Ingenium
Pharmaceuticals
AG* (Germany)
German Ministry
for Education
and Research
€2.2
($2.8)
BioChancePLUS
program grant
The funds will support a program
to establish proof of concept for
the activity of specific kinase
inhibitors in animal models covering several disease areas; each
company will get €1.1M (4/26)
Greystone
Medical Group*
Department of
Defense
$0.75
STTR grant
Greystone and the University of
Tennessee Health Science Center
will use the money to complete
preclinical research on a drug to
treat hemorrhagic shock (2/24)
Hana Biosciences
Inc. (OTC BB:HNAB)
National Institutes
of Health
$0.159
SBIR grant
The grant supports preclinical
studies of Talotrexin (PT-523) as
part of chemotherapy regimens
(8/8)
Human Genome
Sciences Inc.
(HGSI)
Department
of Health and
Human Services
$1.8
Contract award
HGS first will supply the ABthrax
anthrax monoclonal antibody for
preclinical testing; that could
lead to an order within a year for
up to 100,000 doses for the
national stockpile; $1.8M was
awarded for the first stage (10/3)
Hyalose LLC*
Oklahoma Center
for Advancement
of Science and
Technology
$0.227
Grant
The grant will support development of hyaluronan-assisted
targeting systems for drug delivery (7/18)
Iceland Genomics
Corp.* (Iceland)
European Union
ND
6th Framework
Program grant
A consortium including IGC,
Bioinformatics ApS, University of
Oxford and Radboud University
will study the inherited risk of
breast and prostate cancers
(12/19)
Icon Genetics
AG* (Germany)
Bavarian Research
Foundation
(Germany)
ND
Funding support
The funding supports a collaboration with Research Centre
Freising and the University of
Munich to develop switches for
controlling expression of transgenes in plant chloroplasts (4/1 1)
146
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Iconix
Pharmaceuticals
Inc.*
Environmental
Protection
Agency
ND
Contract award
Iconix will use its chemogenomics platform to predict the toxicity of potentially hazardous
chemicals of interest to the EPA
(1/6)
Icoria Inc.
(OTC BB:ICOR)
National Institute
on Alcohol Abuse
$0.8
Phase II SBIR grant
Icoria will apply metabolomics
and gene expression analysis in
the study of alcohol-related diseases, including liver and brain
injury (10/20)
Icoria Inc.
(OTC BB:ICOR)
Environmental
Protection
Agency and
Duke University
ND
Contracts
Icoria will provide microarray
expression services related to
environmental toxicants in each
deal (9/8)
Icoria Inc.
(OTC BB:ICOR)
National Institute
of Environmental
Health Sciences
$1.2
Phase II SBIR contract
Funding will be used to discover
biomarkers for drug-induced
liver injury (8/29)
ImaRx
Therapeutics
Inc.*
National Heart,
Lung and
Blood Institute
$1.1
Phase II SBIR grant
The grant supports development
of targeted nanobubbles that can
be used with ultrasound for
NanoInvasive treatment of vascular clots (8/2)
Immunicon
Corp. (IMMC) and
the Fox Chase
Cancer Center
National Institutes
of Health
$0.587
STTR grant
To fund development of a strategy to monitor the effectiveness
of cancer drugs in trials by examining a patient’s blood for tumor
cells and related materials (6/13)
Indevus
Pharmaceuticals
Inc. (IDEV)
UK government
and the Medical
Research Council
£26M
($49)
Funding support
For a Phase III trial in Africa of
PRO 2000, the company’s microbicide being developed to prevent HIV infection (4/6)
InfleXion
Therapeutics
LLC*
National Institute
on Drug Abuse
$3
Grant
The grant will support clinical trials of an antibody treatment for
addiction to phencyclidine, or
PCP (1/27)
Inimex
Pharmaceuticals
Inc.* (Canada)
Bill and Melinda
Gates Foundation
and others
$8.7
Grand Challenges
in Global Health
grant
Inimex is part of a consortium
working to boost innate immunity to treat infectious diseases;
the effort is led by the University
of British Columbia (7/7)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
147
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Inovio
Biomedical
Corp. (AMEX:INO)
Department
of Defense
$1
Defense
appropriation
For development of its gene
delivery electroporation technology for use in vaccines against
infectious diseases (9/13)
IntegraGen SA*
(France)
European
Union
€12.5
($16)
Funding support
IntegraGen is part of the EuroHear consortium that includes 25
institutions in Europe; they will
carry out research in hearing
impairments (4/17)
IntegraGen SA*
(France)
European
Union
N/A
6th Framework
Program grant
IntegraGen is one of 30 groups
participating in the DiOgenes
(Diet, Obesity and Genes) project
that together were awarded
€14.5M; IntegraGen will work on
genetic aspects of the project
(1/25)
Integrated
Nano-Technologies
LLC*
National Science
Foundation
$0.5
SBIR grant
The two-year grant will support
further R&D of its DNA detection
technology for detecting the
presence of biological agents
(3/28)
Intercell AG
(Austria; VSE:ICLL)
European Union
€1.4
($1.8)
6th Framework
Program grant
Intercell will work with five other
EU institutions and firms to
develop a novel vaccine against
Lyme borreliosis (5/23)
Iomai Corp.*
National Institute
of Allergy and
Infectious Diseases
$2.9
Grant
The grant will support development of a skin patch designed to
improve responses to influenza
vaccination (1/31)
Ipsat
Therapies*
(Finland)
Tekes; the
Finnish National
Technology Agency
€3
($3.6)
Funding support
The funding will support product
development through the proofof-concept stage (6/16)
Isis
Pharmaceuticals
Inc. (ISIS)
National Institute
of Allergy and
Infectious Diseases
$4.9
Contract award
The Ibis division of Isis will get
up to $4.9M for continued development of its TIGER biosensor
system for diagnosing infectious
diseases and identifying and
controlling hospital-associated
infections (8/2)
148
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Isis
Pharmaceuticals
Inc. (ISIS)
U.S. government
agencies
$1.1
Subcontract from
Science Applications
International Corp.
The Ibis division of Isis was
awarded the contract, details of
which were not disclosed (7/28)
Isis
Pharmaceuticals
Inc. (ISIS)
Department of
Homeland Security
and other U.S.
agencies
$5
Subcontracts from
Science Applications
International Corp.
The Ibis division of Isis will continue advancing development of
the TIGER biosensor system for
identifying infectious organisms
(7/21)
Isis
Pharmaceuticals
Inc. (ISIS)
Department of
Homeland Security
$1.5
Contract awards
Isis’ Ibis division got two contracts to develop microbial
forensics applications of its TIGER
(Triangulation Identification for
Genetic Evaluation of Risks) biosensor system and to enhance
the system’s database (4/18)
KineMed Inc.*
National Institute
of Neurological
Disorders and
Stroke
ND
Phase I SBIR grant
The funding will be used to
develop applications of a KineMarker (kinetic biomarkers)
assay for myelin disorders (3/17)
Kucera
Pharmaceutical
Co.*
North Carolina
Biotechnology
Center
ND
Small Business
Research Award
The funding will support preclinical studies of cancer and
viral programs (3/8)
LAB
International Inc.
(Canada; TSE:LAB)
National
Technology
Agency of Finland
€1.55
($1.8)
Funding support
LAB’s subsidiary in Finland, LAB
Pharma, got funding to support
product development; the money
includes grants and loans (10/20)
Lentigen Corp.
Maryland’s
Department of
Business and
Economic
Development
ND
Challenge Investment
Program funding
The funding will support development of the company’s lentiviral technology (12/13)
Lexicon
Genetics Inc.
(LEXG)
National Institutes
of Health
$4.9
Contract
Three-year deal under which Lexicon will provide knockout mouse
lines and related data for use in
NIH’s Knockout Mouse Project (10/5)
Lexicon
Genetics Inc.
(LEXG)
The Texas
Enterprise Fund
$35
Contract award
Lexicon will create a knockout
mouse embryonic stem cell
library containing 350,000 cell
lines for the Texas Institute for
Genomic Medicine (7/15)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
149
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
LigoCyte
Pharmaceuticals*
National Institutes
of Health
$4.6
Challenge grant
The grant will support preclinical
advancement of an intranasal
vaccine against anthrax (10/3)
Maxygen Inc.
(MAXY)
National Institutes
of Health
$12
Grants
One grant will support use of the
MolecularBreeding directed evolution platform to generate antigens
capable of inducing antibody
responses to multiple HIV strains;
a Phase I SBIR grant also
supports HIV research (10/20)
Maxygen Inc.
(MAXY)
Department
of Defense
$2.4
Contract
The funding supports development of a high-throughput vaccine screening platform (10/20)
Medicure Inc.
(Canada; TSE:MPH)
and the universities
of Manitoba and Ottawa
National Sciences
and Engineering
Research Council
of Canada
ND
Collaborative Research
and Development grant
The grant will support development of drugs to reduce verylow-density lipoproteins (6/27)
Meditech
Research Ltd.
(Australia; ASX:MTR)
Australian
government
A$2.98
($2.3)
Commercial Ready
Grant
Three-year grant will support
development of HyCAMP, a drug
in Phase II trials for cancer (8/24)
MedPharm Ltd.*
(UK)
UK Biotechnology
and Biological
Sciences Research
Council
ND
Grant
The grant will support development of a topical system for
delivering drugs to the nails for
treating the fungal infection
onchomyosis (4/14)
Meridian
Bioscience Inc.
(VIVO)
National Institute
of Allergy and
Infectious Diseases
ND
Contract award
Meridian subsidiary Viral Antigens
will manufacture certain research
biologicals for the NIAID’s Biodefense and Emerging Infections
Resources program (2/9)
Metabolon
Inc.*
Centers for
Disease Control
and Prevention
ND
Contract
Metabolon will analyze blood
samples to identify disease biomarkers for multiple sclerosis
(10/26)
Metabolon
Inc.*
National Institute
of Mental Health
ND
Contract award
To identify biomarkers occurring
in women affected by premenstrual dysphoric disorder (6/16)
150
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Metabolon Inc.*
National Institute
of Environmental
Health Sciences
ND
SBIR grant
Metabolon will use its metabolomics platform to test plasma
samples from amyotrophic lateral sclerosis patients to identify
biomarkers for ALS (4/12)
MicroIslet Inc.
(AMEX:MII)
National Institutes
of Health
$1.7
Phase II SBIR grant
The three-year award will be
used to further develop its islet
cell transplantation technology
for treating diabetes (10/5)
Microscience
plc* (UK)
Wellcome Trust
(UK)
£1.95
($3.65)
Strategic
Translation Award
The award will be used to
advance clinical development in
Southeast Asia of its drinkable
typhoid vaccine program (3/22)
Migenix Inc.
(Canada; TSE:MGI)
Canadian
government
C$9.3
($7.4)
Technology
Partnerships Canada
investment
TPC will invest up to C$9.3M for
development related to MX-2401,
a lipopeptide in preclinical development for treating bacterial
infections (4/1)
MNLpharma
Ltd.* (UK)
Welsh Development
Agency
£0.709
($1.2)
SMARTCymru
program grant
Grant will go toward development
of the immune modulator MNLP
462a as a cancer agent (1 1/21)
Morphotek
Inc.*
Defense Advanced
Research Projects
Agency
$6.3
Challenge grant
To apply its morphogenics technology to develop cell lines suitable for the scaleable manufacturing of biologic-based antibiowarfare therapies (9/15)
Morphotek
Inc.*
National Cancer
Institute
ND
Grant
The grant will support research
to generate antibodies with
enhanced antibody-dependent
cellular cytotoxicity; the award
was from the NCI’s Network for
Translational Research in Optical
Imaging Consortium (1/31)
MultiCell
Technologies
Inc. (OTC BB:MCET)
National Institute
of Allergy and
Infectious Diseases
ND
Grant
The grant will support a pilot
trial using its immunoglobulin
therapeutic for treating Type I
diabetes (9/14)
MultiCell
Technologies
Inc. (OTC BB:MCET)
National Institutes
of Health
ND
SBIR grant
To create BioFactories that
express a serine protease inhibitor that may be useful for treating sepsis (8/30)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
151
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Nabi Biopharmaceuticals
(NABI)
National Institute
on Drug Abuse
$4.1
Grant
The grant will help fund development of NicVAX, a vaccine being
developed to treat nicotine
addiction and prevent smoking
relapse (9/12)
Nanogen Inc.
(NGEN)
National Institute
of Allergy and
Infectious Diseases
$2.5
Grant
The five-year grant is for development of a prototype integrated
diagnostic system for identifying
agents that cause sepsis and
community-acquired pneumonia
(8/1)
Neotropix Inc.*
Pennsylvania
Dept. of Community
and Economic
Development
$0.05
Opportunity grant
The grant will help support
research and development at
Neotropix (9/28)
Neurion
Pharmaceuticals
Inc.*
National Institute
of Mental Health
$0.5
Phase I SBIR grant
The grant will support development of drugs to treat anxiety
focused on a GABA-A receptor
subtype (6/2)
Neurome
Inc.*
National Institutes
of Health and the
Bill and Melinda
Gates Foundation
$3.9
Grand Challenges
in Global Health
grant
Three-year program to develop a
needle-free vaccine delivery system that will enable administration in any field setting (6/30)
Neurome
Inc.*
National Institutes
of Health
ND
Phase I SBIR grant
To develop and validate software
to accelerate the graphical delineation of brain regions on digital
images used to produce 3-D
digital brain atlases (6/7)
NexBio Inc.*
National Institute
of Allergy and
Infectious Diseases
$6
Phase II SBIR grant
For further testing of the company’s influenza candidate Fludase (DAS181), which is nearing
clinical trials (8/8)
Novavax Inc.
(NVAX)
National Institutes
of Health
$1.07
Grant
Three-year funding will support
development of a severe acute
respiratory syndrome vaccine
using its Virus-Like Particle technology (2/4)
152
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Onyvax Ltd.*
(UK)
European
Union
€4.2
($5.6)
6th Framework
Program grant
Onyvax is part of a consortium
led by Nottingham Trent University to identify abnormal proteins in ovarian, breast and prostate cancer patients that could
indicate if they are likely to benefit from vaccine therapy (2/23)
Optimer
Pharmaceuticals
Inc.*
National Institute
of Allergy and
Infectious Diseases
$1.19
Phase II SBIR grant
Grant supports development of
semi-synthetic macrolides and ketolides as antimicrobial agents (10/17)
Optimer
Pharmaceuticals
Inc.*
National Institute
of Allergy and
Infectious Diseases
$0.73
SBIR-Advanced
Technology grant
The grant will help fund development of OPT-80, which is in a
Phase II trial for Clostridium difficile-associated diarrhea (10/17)
OriGene
Technologies
Inc.*
National Human
Genome Research
Institute
ND
Phase I SBIR grant
The grant will be used to validate
OriGene’s short-hairpin RNA
Kinome collection (6/30)
Osel Inc.*
National Institute
of Allergy and
Infectious Diseases
ND
Grant
The multiyear award will support
development of an encapsulated
MucoCept Lactobacillus strain
for preventing bacterial vaginosis and HIV infection (6/9)
Oxford BioMedica
plc (UK; LSE:OXB)
UK Motor
Neurone Disease
Association
£0.35
($0.63)
Research grant
The grant will support preclinical
evaluation of MoNuDin, a gene
therapy treatment for amyotrophic lateral sclerosis (7/25)
PamGene
International BV*
(the Netherlands)
Dutch Ministry
of Economic
Affairs
€2
($2.66)
SenterNovem
program grant
PamGene will develop bioinformatics and systems biology on
its PamChip Array platform in
conjunction with the University
of Rotterdam, the Wilhelmina
Kinderziekenhuis and the VTT
Technical Research Centre (3/9)
PamGene
International BV*
(the Netherlands)
European
Union
ND
6th Framework
Program grant
PamGene is part of a consortium
to develop diagnostics for mitochondrial disease; others are
the University of Maastricht, Radboud University Medical Centre,
INSERM, the National Institute of
Neurology in Italy and the University
of Newcastle-upon-Tyne (3/8)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
153
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Amount
(M)
Type
Details (Date)
Pepscan Systems
European
BV* (the Netherlands),
Union
Proteomika SL* (Spain)
and AlgoNomics NV*
(Belgium)
€1.2
($1.6)
6th Framework
Program grant
The project focuses on developing fully synthetic antibodies to
treat pancreatic cancer; also participating are University Medical
Centre (the Netherlands), the
National Cancer Research Centre
(Spain) and the University Louis
Pasteur (France) (2/2)
Peregrine
Pharmaceuticals
Inc. (PPHM)
Department
of Defense
$0.58
Grant
The University of Texas Southwestern Medical Center got funding to study vascular-targeting
antibodies with chemotherapy
for treating prostate cancer (1 1/3)
Perlegen
Sciences Inc.*
National Institute
of Allergy and
Infectious Diseases
ND
Biodefense
Partnership grant
Perlegen will analyze the genomes of about 150 Yersinia pestis
(which cause the plague) and Y.
pseudotuberculosis strains to
help distinguish the strains and
understand their biology (4/4)
Perlegen
Sciences Inc.*
National Institute
of Arthritis and
Musculoskeletal
and Skin Diseases
ND
Grant
The grant will support a collaboration with the North American
Rheumatoid Arthritis Consortium
to conduct a high-density wholegenome association study of RA
(3/10)
Perlegen
Sciences Inc.*
National Cancer
Institute
ND
Grant
Perlegen and the Sidney Kimmel
Comprehensive Cancer Center at
Johns Hopkins University will
study tumor-specific DNA mutations involved in colorectal cancer (2/23)
Pharmos Corp.
(PARS)
Israel Ministry
of Industry and
Trade
$1.3
Office of the Chief
Scientist grant
The funds will support development of drug candidates from
the company’s CB2-selective
platform of synthetic cannabinoids (5/2)
Phylogica Ltd.
(Australia; ASX:PYC)
Australian
government
A$2.27
($1.7)
AusIndustry
Commercial Ready
grant
Grant will support development
of Phylomer drug candidates
for rheumatoid arthritis (10/24)
154
Funding
Institution
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Point
Therapeutics
Inc. (POTP)
Food and Drug
Administration
$0.6
Orphan Products
Development grant
The two-year grant will fund
the Phase II trial of talabostat in
combination with rituximab in
advanced chronic lymphocytic
leukemia (10/1 1)
Polydex
Pharmaceuticals
Ltd. (Canada; POLXF)
and Eastern Virginia
Medical School
Bill & Melinda
Gates Foundation
and the U.S. Agency
for International
Development
$24
The foundation gave
$12M, and USAID
matched the grant for
trials of a microbicide
to prevent HIV
The CONRAD program of EVMS
got the grant; the product is
partnered with Polydex; Phase
III trials will be run in India and
four African countries (5/3)
Population
Genetics
Technologies
Ltd.* (UK)
Wellcome
Trust (UK)
£1.1
($2)
Grant
Wellcome provided funding for
the newly formed company to
develop a method for obtaining
sequence information from thousands of genomes simultaneously
(4/20)
Predix
Pharmaceuticals
Holdings Inc.*
Cystic Fibrosis
Foundation
Therapeutics Inc.
$12.5
Funding award
Predix will get up to $12.5M over
three years for programs focused
on the defective cystic fibrosis
transmembrane conductance regulator protein and discovery
of a small-molecule agonist to
P2Y to treat the disease (3/16)
Proacta Inc.*
New Zealand Trade
and Enterprise
and TechNZ
$3.45
Grants
Proacta’s New Zealand subsidiary
was awarded $2.18M over three
years from the Australia New
Zealand Biotechnology Partnership Fund to support operations
in New Zealand and Australia
and was awarded $1.27M from
TechNZ to support drug development activities (3/3)
Progenics
Pharmaceuticals
Inc. (PGNX)
National Institute
of Allergy and
Infectious Diseases
$10.1
Grant
The 3.5-year grant will support
research and clinical testing of
the HIV drug PRO 140 (9/9)
ProlX
Pharmaceuticals
Corp.*
National Cancer
Institute
$5.6
National Cooperative
Drug Discovery Group
award
ProlX and four research institutions got the five-year award to
discover therapies that target
cells while minimizing damage
to normal, healthy cells (12/7)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
155
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
ProlX
Pharmaceuticals
Corp.*
National Institutes
of Health
$1.2
SBIR grants
ProlX got four grants to support
development of the Trx-1 inhibitor PX-12 for cancer and other
drugs in the company’s pipeline
(8/18)
Provid
Pharmaceuticals
Inc.*
National Cancer
Institute
$0.75
Phase II SBIR contract
Provid will use its hypothesisdriven drug discovery chemistry
in a two-year collaboration on
oncology targets (9/29)
PTC
Therapeutics
Inc.*
Muscular
Dystrophy
Association
$1.5
Grant
The award will be used to fund
development of PTC124 for treating Duchenne’s muscular dystrophy that is due to a nonsense
mutation in the dystrophin gene
(4/21)
PTC
Therapeutics Inc.*
Cystic Fibrosis
Foundation
Therapeutics Inc.
$1.7
Award
The money will support development of PTC124 for treating cystic fibrosis that is due to a nonsense mutation in the cystic
fibrosis transmembrane regulator gene (2/21)
Reaction
Biology Corp.*
National Institutes
$0.75
of Dental and
Craniofacial Research
Phase II SBIR grant
To apply its DiscoveryDot technology to the high-throughput
screening of caspases and other
proteases for drug discovery
(8/9)
Reata
Pharmaceuticals
Inc.*
National Institutes
of Health
ND
Phase I SBIR grant
The grant will support development of small-molecule drugs
for treating amyotrophic lateral
sclerosis (1 1/3)
Repligen
Corp. (RGEN)
Stanley Medical
Research Institute
$1
Funding support
Repligen will get the money
under an expanded agreement
between the parties for a Phase II
trial of uridine in bipolar depression (10/21)
Repligen Corp.
(RGEN)
Stanley Medical
Research Institute
ND
Funding award
Repligen will receive funding for
a Phase I trial of its formulation
of uridine for treating bipolar
disorder (3/14)
Rexahn Corp.*
University
of Maryland
ND
Maryland Industrial
Partnership grant
The grant will fund a project on
ligand screening for novel cancer
therapeutics (2/8)
156
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
RxKinetix Inc.*
Bill & Melinda
Gates Foundation
and others
ND
Grand Challenges
in Global Health
grant
RxKinetix will use the grant to
develop room-temperature, stable vaccines for measles and
hepatitis B (6/30)
Saegis
Pharmaceuticals
Inc.*
The Stanley
Medical Research
Institute
$3.8
Funding support
Saegis will get up to $3.8M to
continue funding clinical trials of
SGS518 as a treatment for the
cognitive deficit that occurs in
schizophrenia; SMRI provided
$2M in 2004 to support Phase I
trials (5/12)
Sanaria Inc.*
National Institute
of Allergy and
Infectious Diseases
$1
Phase II SBIR grant
The first year of the grant will
support development of its
whole-parasite malaria vaccine;
another $2M could be awarded
over three years (6/20)
Sanaria Inc.*
U.S. Army
$4.09
R&D funding award
The funds will support development of the company’s attenuated whole-parasite malaria
vaccine (5/2)
Saneron CCEL
Therapeutics
Inc.*
National Institutes
of Health and the
state of Florida
$0.26
Phase I STTR grant
The grant will support a study to
and Florida High Tech
evaluate the effects of umbilical
Corridor matching grant cord blood transplantation following myocardial infarction in a
large animal model (10/1 1)
Sangamo
BioSciences
Inc. (SGMO)
Cystic Fibrosis
Foundation
ND
Research funding
Sangamo gets two years of funding to generate cell lines for
cystic fibrosis research using its
zinc finger DNA-binding protein
technology (9/29)
SeraCare
Life Sciences
Inc. (SRLS)
National Cancer
Institute
ND
Contract expansion
SeraCare will provide laboratory
support to the NCI for the processing and storage of specimens of people at high risk for
cancer; it also will act as a repository for the specimens (10/6)
SGX
Pharmaceuticals
Inc.*
National Institute
of General Medical
Sciences
$48.5
Protein Structure
Initiative award
The NIH award provides five
years of renewed funding for the
New York Structural GenomiX
Research Consortium; SGX will
retain about half the funding,
with the rest going to participating institutions (7/1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
157
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
SIGA
Technologies
Inc. (SIGA)
U.S. Army Medical
Research and
Materiel Command
$3.2
Contract
One-year contract to use its computational approach to develop
countermeasures against smallpox and adenovirus (9/27)
SIGA
Technologies
Inc. (SIGA)
National Institutes
of Health
$1
Funding support
The funding will help support
preclinical development of SIGA’s
oral anti-smallpox drug SIGA246, which is being developed
with Saint Louis University (9/20)
SIGA Technologies
Inc. (SIGA) and
TransTech Pharma
Inc.*
National Institutes
of Health
$2.7
Challenge grant
The companies will use the funds
in development of protease
inhibitors to treat orthopoxvirus
infections, such as smallpox and
monkeypox (2/15)
Sinovac
Biotech Ltd.
(China; AMEX:SVA)
China Ministry
of Science and
Technology
RMB7
($0.87)
Funding support
The funds will support preclinical trials of Sinovac’s Panflu
pandemic flu vaccine (12/9)
SIRS-Lab
GmbH* (Germany)
European Union
ND
6th Framework
Program grant
SIRS-Lab is the only non-academic
member of the GenOSept project,
which got funding to investigate
the genetics of sepsis and septic
shock (5/24)
Solbec
Pharmaceuticals
Ltd. (Australia;
ASX:SBP)
Australian
Industry
Department
A$2.26
($1.66)
AusIndustry
Commercial Ready
grant
The funds are expected to cover
half the cost of the upcoming
Phase II trial of the cancer drug
Coramsine (12/20)
Solbec
Pharmaceuticals
Ltd. (Australia;
ASX:SBP)
Western Australia
Department of
Industry and
Resources
A$0.023
($0.017)
Grant
The grant will be used to help
secure funding for further trials
of the company’s cancer drug
Coramsine (1 1/18)
Solbec
Pharmaceuticals
(Australia; ASX:SBP)
Edith Cowen
University
(Australia)
ND
Industry collaboration
grant
To identify a specific melanoma
gene that may allow for development of a diagnostic test (9/2)
SomaGenics
Inc.*
National Institute
of Allergy and
Infectious Diseases
$0.315
Grant
For development of siRNA libraries for antiviral discovery
(4/1)
158
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
SRI International*
National Institute
of General Medical
Sciences
ND
Continued grant
The unit of the National Institutes of Health has continued a
grant to support the modeling of
complex mammalian signaling
networks based on signaling of
the epidermal growth factor receptor using SRI’s Pathway Logic
analysis software (5/23)
Starpharma
Holdings Ltd.
(Australia; ASX:SPL)
National Institute
of Allergy and
Infectious Diseases
$20.3
Development funding
The funding will support development of the vaginal microbicide VivaGel through to the start
of large-scale efficacy trials
(10/3)
Stem Cell
Sciences Ltd *
(UK)
UK government
£1.2
($2.3)
DTI Technology
Program funding
SCS is coordinating a consortium
in stem cells that will develop
high-throughput cell screening
for discovery of regenerative
medicines; also participating are
the Institute for Stem Cell
Research, University College
London Biochemical Engineering,
GE Biosciences, Global Research
Centre and the Insight Faraday
Partnership (1/31)
Targeted
Genetics Corp.
(TGEN)
National Institute
of Allergy and
Infectious Diseases
$18
Subcontract award
Targeted Genetics could receive
up to $18M of a $21.75M contract
over three years for further development of adeno-associated
virus-based vaccines against HIV;
two research hospitals also are
participating in the award (1 1/28)
Thromgen Inc.*
National Heart,
Lung and Blood
Institute
$1.49
STTR Competing
Continuation grant
The grant will fund continued
preclinical development of
Thrombostatin for preventing
blood clots following balloon
angioplasty procedures (7/18)
To-BBB BV*
(the Netherlands)
Sanfilippo
Syndrome Medical
Research Center
$0.1
Grant
The grant supports a preclinical
program on targeting sulphamidase to the brain for treating
neurological disorders (10/20)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
159
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Tripos Inc.
(TRPS)
European Union
€0.875
($1.1)
6th Framework
Program grant
The grant will pay for seven
research fellows from Europe to
work at Tripos’ UK unit for 18
months each over four years
(6/7)
Tripos Inc.*
(TRPS)
National Institutes
of Health
$0.86
Phase II SBIR grant
The two-year grant will fund creation of a a full-scale library
design system based on topomer
technology (3/14)
United
Biomedical Inc.*
National Institutes
of Health
$17
Contract award
The contract is expected to cover
the full cost of the development
and manufacture of a therapeutic
vaccine for AIDS (7/5)
U.S Genomics
Inc.*
Department
of Homeland
Security
$16.8
Phase II Advanced
Research Project
Agency contract
U.S. Genomics will complete
prototype development of its
system for detecting and identifying airborne pathogens using its
DNA mapping technology (1 1/30)
U.S. Genomics
Inc.*
National Science
Foundation
$0.5
Phase II-B SBIR grant
The grant will support development of a platform that uses the
company’s DNA analysis and
genomic mapping technologies
(10/5)
Vala Sciences*
National Institutes
of Health
ND
Two SBIR grants
One grant will support assay
development and the other, cell
image-based software analysis
development (2/16)
Various
companies
National Institute
of Allergy and
Infectious Diseases
$27
Project BioShield
grants and contract
awards
Grants went to Apath LLC to
develop drugs for Ebola infection;
NovoBiotic Pharmaceuticals LLC
to develop drugs against anthrax;
Nanotherapeutics Inc. to develop
single-dose disposable inhalers
of two antibiotics; MaxThera Inc.
to identify agents against bioterror pathogens; and Veritas Inc.
to develop tests used to screen
drugs that inhibit the botulinum
neurotoxin; contracts went to
XOMA LLC to develop and produce
antibodies against botulinum
toxin type A; and DVC Dynport
LLC to produce a vaccine against
botulinum toxin type E (5/9)
160
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
Velcura
Therapeutics
Inc.*
National Institute
on Aging
$1.3
Phase II SBIR grant
The grant is for proteomics-based
drug discovery in human osteoblasts, for discovery of drugs
that stimulate bone formation
(7/12)
Vesta
Therapeutics
Inc.*
National Institute
of Diabetes and
Digestive and
Kidney Diseases
ND
Phase I SBIR grant
The grant will support exploration of using adipose-derived
adult stem cells as a therapeutic
modality in liver disease (6/16)
Vical Inc.
(VICL)
Defense Advanced
Research Projects
Agency
$0.5
Department of
Defense award
The award will fund feasibility
studies for a new approach to
rapidly manufacture large quantities of DNA vaccines (9/22)
Vical Inc.
(VICL)
National Institute
of Allergy and
Infectious Diseases
$2.9
Challenge grant
Grant of up to $2.9M will be used
to support development of a DNA
vaccine against naturally emerging or weaponized strains of
avian influenza (9/15)
Vical Inc.
(VICL)
National Institute
of Allergy and
Infectious Diseases
$12.1
Subcontract award
from SAIC-Frederick
Inc.
Vical will provide multiple clinical lots of DNA vaccines against
HIV for the Vaccine Research
Center of the NIAID under the
subcontract (6/16)
Vical Inc.
(VICL)
National Institute
of Allergy and
Infectious Diseases
$3.1
Phase II SBIR grant
The grant will partially fund
ongoing development of Vical’s
immunotherapeutic DNA vaccine
against cytomegalovirus disease
(3/10)
VisiGen
Biotechnologies
Inc.*
National
Institutes of
Health
ND
Phase I SBIR grant
The grant will support development of a method for labeling
DNA, RNA and proteins (9/26)
VisiGen
Biotechnologies
Inc.*
National Human
Genome Research
Institute
$4.2
Genome grant
Three-year grant will help
accelerate development of VisiGen’s sequencing technology
(8/6)
VistaGen
Therapeutics
Inc.*
High Q
Foundation Inc.
ND
Funding support
High Q will support VistaGen’s
preclinical studies of AV-101 for
treating Huntington’s disease
(8/1 1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
161
2005 Grants And Awards To Biotech Companies (Continued)
Company*
(Symbol)**
Funding
Institution
Amount
(M)
Type
Details (Date)
VistaGen
Therapeutics
Inc.*
National Institute
of Drug Abuse
$0.197
Phase I SBIR grant
The grant will support completion of preclinical efficacy studies of AV-10 1 for treating pain
caused by various conditions
(7/12)
VistaGen
Therapeutics Inc.*
National Institute
of Neurologic
Disorders and
Stroke
$3.7
Development grant
The grant will cover the preclinical development of 4-C1-KYN
(AV-101) in epilepsy (5/24)
Xanthus Life
Sciences Inc.*
National Cancer
Institute
$2.3
Grant
Xanthus gets up to $2.3M to
develop its ParaMetabolic technology to improve the way cancer drugs are dosed (9/29)
Xantos Biomedicine
AG*, NascaCell IP
GmbH and PSF
Biotech AG*
(all in Germany)
German Ministry
for Education
and Research
ND
BioChancePLUS
program grant
The grant will help the firms’
efforts to identify and develop
drugs to inhibit tumor angiogenesis, using an aptamer-based
approach (4/13)
Xantos
Biomedicine AG*
(Germany)
European
Union
ND
6th Framework
Program grant
Four-year project to discover and
validate targets and pathways
involved in tumor-induced blood
vessel formation (2/23)
XOMA Ltd.
(XOMA)
National Institute
of Allergy and
Infectious Diseases
$15
Contract award
18-month contract calls for XOMA
to develop monoclonal antibody
therapeutics against botulinum
neurotoxin (3/10)
Zen-Bio Inc.
National Institutes
of Health
$0.96
Phase II SBIR grant
The two-year grant will support
development and characterization of a human omental adipocyte cell system (9/21)
Notes:
* Indicates a privately held company.
Currency conversions reflect values at the time of a deal’s announcement.
SBIR = Small Business Innovation Research; STTR = Small Business Technology Transfer.
Unless otherwise indicated, symbols listed are on the Nasdaq market.
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CDNX = Canadian Venture Exchange; CSE =
Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; HEX = Helsinki Stock Exchange; LSE = London Stock
Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SSE = Stockholm
Stock Exchange; TSE = Toronto Stock Exchange; VSE = Vienna Stock Exchange.
162
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
BIOWORLD
®
C O R P O R AT E
D
E
A
L
S
Major Player Novartis Pays
Big For Products, Platforms
By Randall Osborne
West Coast Editor
With big pharma firms watching their patents expire and their pipelines
dwindle, deal making – both partnerships and outright buyouts – roared forward in 2005, with Novartis AG’s $5.1 billion buyout offer (upped from an
earlier, rejected bid of $4.5 billion) to Chiron Corp. stealing the show in
November.
There is renewed interest in vaccines. Chiron had just won a $62.5 million contract to supply the U.S. government with pre-pandemic vaccine for a
stockpile to protect against the H5N1 avian flu virus strain. The vaccine is
made at the Liverpool, UK, facility, which hurt Chiron in 2004 when regulators cited sterility issues there related to batches of Fluvirin, and the plant
was shut down, causing a shortage of flu shots in the U.S.
Chiron acquired the Fluvirin plant in its 2003 buyout of PowderJect
Pharmaceuticals plc, and the facility was known to be less than modern.
Temporarily closing it cost Chiron, the second-largest vaccine maker in the
U.S. and fifth largest in the world, $14 million, plus $5 million in legal fees
and $8 million in remediation expenses. It also cost the U.S. half of its flu
vaccine, which Chiron had been expected to produce.
Novartis still wanted Chiron, which operates other units for blood testing and biopharmaceuticals. Under the terms of the buyout, the pharma
giant is paying $45 apiece for about 1 13 million Chiron shares that make up
the 58 percent Novartis does not already own.
“We’ve always had an interest in vaccines, albeit from a slightly spectator-like position,” said Tony Rosenberg, head of business development and
licensing at Novartis.
Thomas Ebeling, the company’s CEO, said that “Chiron has not only
experience in [the vaccines] field, but is a good discovery organization.
Berna Biotech was one of the few companies available other than Chiron,
and we took a look.”
Novartis backed away from the Berna deal, but Crucell NV in late 2005
bought Berna in an estimated $448 million arrangement. Why did Novartis
demur?
“It has to make sense of terms of pipeline, earnings outlook and price to
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
165
pay,” Ebeling said. “Sometimes the equation doesn't work out. That was all.”
Of Chiron’s Liverpool problems, he said, “It’s behind them. They have
good very people and a good track record of outstanding quality management in manufacturing.”
Earlier in the year, GlaxoSmithKline plc put $1.4 billion on the table in
its buyout of vaccine firm ID Biomedical. GSK had recently won approval
for its flu vaccine, Fluarix, and IDB has another, called Fluviral, already marketed in Canada and waiting for clearance in the U.S. In the takeover deal,
GSK agreed to pay C$35 per ID Biomedical share held – a premium of 13 percent over the previous day’s closing price, which was the highest closing
price ever for IDM, valuing the transaction at C$1.7 billion.
When disclosed in September, the GSK buyout of IDM was billed as the
largest vaccine deal in history, but that was before Novartis made its eyeopening bid for Chiron. The Swiss pharma firm seemed to want its finger in
almost every pie, from companies with products to those with platforms,
from large outfits to small. Novartis began 2005 with a deal with Infinity
Pharmaceuticals Inc. to jointly design a collection of small molecules
using Infinity’s diversity-oriented synthesis program, allowing each to use
the resulting compounds in drug discovery efforts.
In the spring came a drug-discovery pact with ESBATech AG, which followed a proof-of-concept pilot study using ESBATech’s small-molecule
screening technology. Terms call for ESBATech to provide Novartis access to
its cellular high-throughput screening technology, and their work will focus
on identifying inhibitors for receptor tyrosine kinases that could provide
targets for cancer drugs. Financial details were not made public.
In April, Novartis tapped Avanir Pharmaceuticals Inc.’s preclinical
program to develop small-molecule drugs that target macrophage migration inhibitory factor, in an agreement that could bring $210 million in upfront payments, milestone payments and research funding. The deal typified a move away from the old-style partnerships, in which pharma firms
waited until Phase II or later before stepping in.
So, to a lesser extent, did the summer’s deal with Arrow Therapeutics
Ltd., Arrow’s first – a license to Novartis for A-60444, a small-molecule
inhibitor of respiratory syncytial virus, for $10 million down and another
$217 million linked to development milestones, plus royalties. The drug was
in two Phase II trials, yet to report data.
166
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
The trend rolled on. Summer brought another “largest in history” – this
time not vaccines, but the largest Phase I deal ever. Novartis entered a
potential $580 million agreement with Anadys Pharmaceuticals Inc., to
advance ANA975 and other Toll-like receptor 7 oral prodrugs for chronic
hepatitis C and hepatitis B viruses. After a $20 million license payment,
Anadys is in line for as much as $550 million in milestones.
“We have relatively little in-house capability” in hepatitis, Rosenberg
said, adding that Novartis has “looked at it very systematically. Most of our
deal making is driven by a strategy where we pick disease areas in which
we want to be leaders in the next five to 10 years. We won’t do one deal [in
an indication] and one drug.”
With partner Idenix Pharmaceuticals Inc., Novartis in January 2006
submitted a new drug application to the FDA for telbivudine, an oral therapy
for chronic hepatitis B. Novartis takes special notice of “categories where
you need multiple drugs to treat a patient,” Ebeling said. “Our strategy is
always to be present in the most relevant mechanism to treat a disease.
HCV is the big one, but there are some interesting ones in the infectious disease field. HIV is a little bit more challenging, not as promising.”
At almost the same time as the Anadys deal, Novartis put the pen to a
pact with Hybridon Inc., hoping to leverage the latter’s immune modulatory oligonucleotide platform to find TLR9 candidates for asthma and allergy.
Superlatives trailed in the wake of another deal in the fall, that one
focused on RNA interference. Novartis agreed to pay Alnylam
Pharmaceuticals Inc. potentially more than $700 million and bought
almost 20 percent of the firm in what was described as a “landmark” partnership. The same month, Novartis signed with the platform company
Avalon Pharmaceuticals Inc., which focuses on large-scale gene-expression analysis, to collaborate on small-molecule therapeutic compounds targeted against a pathway selected by Novartis, and with NexMed Inc., in a
licensing deal worth up to $51 million for worldwide rights to an onychomycosis nail lacquer treatment.
“You can track our deals,” Rosenberg said, and determine the main areas
of interest for Novartis – cardiovascular, oncology, transplantation and central nervous system disorders, “though we haven’t done many CNS deals in
the last couple of years.”
Uncommonly, Novartis also has a generics business, making money in
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
167
an area that most other drug developers regard as one to compete with, and
dread.
“We have a very simplistic view of the world,” Ebeling said. “Our core
competence is selling drugs, innovative medicines. Generics are a fact of
life. We think they will continue to exist and remain a dynamic, interesting
market. Why should we not compete in generics? Maybe other companies
have difficulties to envision how the organization can manage this, but we
understand the generic mindset much better than other pharma players. We
keep them separate, so both are not slowing down each other. I don’t think
this is a contradiction; it’s a very good enrichment.” ■
168
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Terms/Details
I. COMPLETED MERGERS AND ACQUISITIONS
Pharmaceutical
division of
aaiPharma Inc.
(PK:AAIIQ)
Xanodyne
Pharmaceuticals
Inc.*
5/10/05
7/12/05
$209.3
Xanodyne paid $209.25M cash to acquire
the pharmaceutical assets of aaiPharma in
a deal approved by a bankruptcy court;
Xanodyne also committed to purchase up
to $30M in services from aaiPharma’s
services division over three years
Absalus Inc.*
EvoGenix Pty.
Ltd.* (Australia)
4/5/05
4/5/05
$8
The privately held firms merged in a deal
valued at $8M in stock; they had been
collaborating on antibody therapeutics
Oral care
business of
Access
Pharmaceuticals
Inc. (AMEX:AKC)
Uluru Inc.*
10/12/05
10/12/05
$9.7
The deal’s value could increase to $20.6M;
Uluru, set up by Access’s former CEO,
acquired Aphthasol, all OraDisc products
and all Residerm products; Uluru already
had entered an agreement to be acquired
by Oxford Ventures Inc. (OTC BB:OXFV)
A.C.T. Holdings
Inc. (OTC BB:
ACTH)
Advanced Cell
Technology Inc.*
1/3/05
2/1/05
ND
The companies completed a reverse merger; prior to the deal Advanced Cell raised
$8M privately
ActivX
Biosciences
Inc.*
Kyorin
Pharmaceutical
Co. Ltd. (Japan)
12/1/04
2/2/05
$21
ActivX survives as a wholly owned subsidiary and will serve as Kyorin’s discovery
and development center in the U.S.; they
have been collaborating since 2002
Aerogen Inc.
(OTC BB:AEGN)
Nektar
Therapeutics
(NKTR)
8/15/05
10/20/05
$32
Nektar earlier said it was exercising its
option to make it an all-cash deal, at 75
cents per share
Afmedica Inc.*
Angiotech
9/13/05
Pharmaceuticals
Inc. (Canada; ANPI)
10/7/05
ND
Afmedica is developing perivascular technology using the drug rapamycin to treat
various diseases
Agencourt
Bioscience
Corp.*
Beckman
Coulter Inc.
4/27/05
6/1/05
$100
Beckman Coulter paid $100M at closing
and will make up to $40M in contingent
payments through 2007
Altadyne Inc.
(OTC BB:ATYD)
Stem Cell
Therapy
International
Corp.*
9/16/05
9/16/05
ND
The merged company will keep the Stem
Cell Therapy International name; the ticker
symbol will be changed
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
169
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Alteris
Therapeutics
Inc.*
Date
Completed
Value
(M)***
Celldex
10/12/05
Therapeutics
Inc. (majority
owned by Medarex
Inc.; MEDX)
10/12/05
ND
Celldex issued 1.2M shares, paid $1.5M in
cash and could make milestone and other
payments for Alteris, which has the Phase II
cancer vaccine ALT-1 10
Amedis
Pharmaceuticals
Ltd.* (UK)
Paradigm
Therapeutics
Ltd.* (UK)
1/7/05
1/7/05
ND
Both are early stage companies based in
Cambridge, UK; terms were not disclosed
Anawah Inc.*
Arcadia
Biosciences
Inc.*
5/16/05
5/16/05
ND
Arcadia, an ag-biotech company, acquired
Anawah, which focuses on developing
value-added whole foods
Angiosyn
Inc.*
Pfizer Inc.
1/20/05
4/6/05
$527
Angiosyn stockholders received up-front
and other payments of up to $527M; they
also would get royalties on future sales; full
payment is contingent on successful development of a drug for an ophthalmic indication and a second therapeutic area
APS Pharma
GmbH* (Germany)
ProStrakan
Group plc*
(UK; LSE:PSK)
5/3/05
5/3/05
€2.7
($3.4)
ProStrakan gained a sales and marketing
infrastructure in Germany through the allcash acquisition
Aptamera
Inc.*
Antisoma plc
(UK; LSE:ASM)
1/10/05
2/4/05
£1 1.5
($21.6)
Antisoma issued up to 66.5M shares, or
20% of the enlarged company, to acquire
Aptamera, which is developing AGRO100,
an anticancer aptamer
Arakis Ltd.*
(UK)
Sosei Co. Ltd.
(Japan)
7/19/05
8/30/05
£106.5
($186)
Sosei paid £1 1.7M cash and issued
35,630 shares in the deal, or 33.6% of
the enlarged company
Arexis AB*
(Sweden)
Biovitrum AB*
(Sweden)
8/22/05
8/22/05
ND
Biovitrum will make cash and equity payments up front and will pay more in
cash and stock if milestones are reached
Most assets
of Argonaut
Technologies
Inc. (AGNT)
Biotage AB
(Sweden; SSE:
BIOT)
2/22/05
6/6/05
$21.2
Biotage paid $21.2M for the chemistry consumables business and certain assets of
Argonaut’s process chemistry business,
which constitute all Argonaut assets except
its cash; Argonaut no longer has an
operating business
10/20/05
10/20/05
ND
The merged company will change its name
and stock symbol to reflect the Cardium
Therapeutics Inc. ownership
Aries Ventures
Cardium
Inc. (OTC BB:ARVT) Therapeutics
Inc.*
170
Date
Announced
Terms/Details
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Artesian
Therapeutics
Inc.*
Cardiome
Pharma Corp.
(Canada; CRME)
8/29/05
10/24/05
N/A
Artesian shareholders can earn up to $32M
in payments for development milestones
related to each of two drug candidates
Arthron Pty.
Ltd. (Australia;
subsidiary of
Prima Biomed Ltd.)
Trillium
Therapeutics
Inc.* (Canada)
10/6/05
10/6/05
ND
Prima got $0.5M up front in cash and
5.6% of TTI’s stock; Prima also is entitled to
receive additional TTI shares if certain milestones are met
Artus GmbH*
(Germany)
Qiagen NV
(the Netherlands;
QGEN)
5/31/05
5/31/05
$27.6
Qiagen paid $27.6M in cash and would pay
$1 1.6M more if certain milestones are met;
Artus focuses on PCR-based molecular diagnostic tests
Asterand
Inc.*
Pharmagene
plc (UK; LSE:PGN)
9/19/05
12/22/05
£13
($23.5)
Asterand shareholders got about 54.2M
shares in the deal, or 50% of the merged
company, and could get additional payments;
the name was changed to Asterand plc
Astral Inc.
Astral
(subsidiary of
Therapeutics
Alliance
Inc.*
Pharmaceutical
Corp.; OTC BB:ALLP)
9/7/05
9/7/05
ND
Astral Therapeutics, set up for this deal,
will be renamed MultiCell Immunotherapeutics Inc. and be owned 33% by Alliance
and 67% by MultiCell Technologies Inc.
(OTC BB:MCET)
Atugen AG*
(Germany)
SR Pharma
plc (UK; AIM:SPA)
6/21/05
7/1 1/05
£6.2
($10.8)
SR Pharma issued 19.7M shares, or 49% of
of the enlarged company, in the
acquisition
Austin Research
Institute
companies
(Australia)
Prima Biomed
Ltd. (Australia;
ASX:PRR)
8/9/05
8/25/05
ND
Prima acquired about 100% of four subsidiaries from ARI: Cancer Vac Pty. Ltd., Panvax
Ltd., OncoMab Pty. Ltd. and Athron Ltd.;
ARI got a stake of about 10% in Prima
Biomed
Auvation
Ltd.* (UK)
EiRx
Therapeutics
plc (Ireland;
AIM:ERX)
1/5/05
1/5/05
£1.5
($2.6)
EiRx acquired 56.1% percent of Auvation
from Auvation’s founder and chairman
for £1.5M in stock, and is offering to buy the
rest of the company on the same terms
Aventis
Pharmaceuticals
Puerto Rico
Inyx Inc.
(OTC BB:IYXI)
10/7/04
3/31/05
$19.7
The production and development center in
Puerto Rico was a unit of the Sanofi-Aventis
Group
Axxima
Pharmaceuticals
AG* (Germany)
GPC Biotech
AG (Germany;
GPCB)
3/2/05
3/2/05
€13.7
($18)
GPC issued 1.3M shares for Axxima, a
kinase discovery firm that filed for insolvency in December; Axxima investors
invested €8.7M in Axxima as part of the
deal
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Terms/Details
171
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Binax Inc.*
Inverness
Medical
Innovations
Inc. (AMEX:IMA)
2/8/05
3/31/[email protected]
$44.7
Inverness issued 1.4M shares of stock and
paid $9M in cash for the diagnostics
company; Binax shareholders could earn up
to $1 1M more if certain objectives are
reached within five years
Bio Asia*
(China)
Invitrogen
Corp. (IVGN)
12/8/04
3/24/05
$8
Invitrogen paid up to $8M in cash for
Bio Asia, which provides products to the
Chinese research community
BioCell Pty.
Ltd.* (Australia)
Cygenics Ltd.
1 1/7/05
(Australia; ASX:CYN)
1 1/7/05
ND
Cygenics acquired a 51% controlling interest
in BioCell, a cord blood stem cell banking
business
BioCheck Inc.*
OXIS
International
Inc. (OTC BB:OXIS)
9/21/05
12/8/05
$6
OXIS completed the first closing of the
deal, paying $3.06M in cash for $51% of
BioCheck, a producer of enzyme immunoassay kits
BioFocus plc
(UK; AIM:BIO)
Galapagos NV
(Belgium;
Euronext:GLPG)
9/21/05
10/17/05
£20.2
($35.6)
Galapagos paid 124 pence in stock for each
BioFocus share, a premium of 121% to the
Sept. 20 closing price; BioFocus owns about
30% of the combined company
Biofrontera
Discovery
GmbH* (Germany)
Discovery
Partners
International
Inc. (DPII)
3/1/05
4/22/05
ND
Discovery Partners paid an undisclosed
amount in cash for Biofrontera Discovery,
formerly the natural products discovery
division of Biofrontera AG
Biogenesis Ltd.*
(UK) and
Biogenesis Inc.*
MorphoSys AG
1/20/05
(Germany; FSE:MOR)
1/20/05
£5.25
($9.8)
The Biogenesis companies, which focus on
antibody development and manufacturing,
became wholly owned subsidiaries of
MorphoSys
BioPixels
unit of
BioCrystal Ltd.
Invitrogen
Corp. (IVGN)
10/6/05
10/6/05
ND
Terms of the acquisition were not disclosed
Bioren Inc.*
Pfizer Inc.
8/15/05
8/15/05
ND
Pfizer paid an undisclosed amount for
Bioren, which has technology for optimizing antibodies
BioSource
International
Inc. (BIOI)
Invitrogen
Corp. (IVGN)
7/26/05
10/6/05
$130
Invitrogen strengthened its position in
proteomics through the all-cash acquisition
172
Terms/Details
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Antibody and
peptide business
BioSource
International
Inc. (BIOI)
Quality
Controlled
Biochemicals*
1/3/05
1/3/05
ND
Dennis DiSorbo, the former general manager of the business, bought the antibody of
and peptide business, which was renamed
Quality Controlled Biochemicals
Biosynexus
Inc.*
QVT Fund LP
6/14/05
6/14/05
ND
Biosynexus became a wholly owned subsidiary of the fund; terms of the deal were
not disclosed
Bioxalis
Medica Inc.*
(Canada)
Procyon
Biopharma Inc.
(Canada; TSE:PBP)
6/30/05
6/30/05
C$3.42
($2.8)
Procyon issued 9M shares to acquire Bioxalis, which focuses on targeted liposomes
for treating cancer; Bioxalis shareholders
also got 1M warrants exercisable at market
price, if a development milestone is met
Bliss
Clearant
Essentials
Corp.*
Corp. (OTC BB:BLSE)
4/1/05
4/4/05
ND
Clearant acquired Bliss in a reverse merger;
the symbol on the OTC BB was changed to
“CLRI”
Bone Care
International
Inc. (BCII)
Genzyme Corp.
(GENZ)
5/4/05
6/30/05
$600
Genzyme paid $33 in cash for each Bone Care
share; Genzyme intends to integrate Bone Care
into its renal operations, while maintaining Bone Care’s facility in Wisconsin
Caltag
Laboratories*
Invitrogen
Corp. (IVGN)
5/16/05
5/19/05
$20
Invitrogen acquired the immunological
assay manufacturer in an all-cash deal
Certain assets
Maxim
of Calypte
Biomedical
Biomedical Corp. Inc.*
(AMEX:HIV)
4/21/05
1 1/21/05
ND
As part of a restructuring, Calypte sold
its urine EIA, serum Western Blot and urine
Western Blot HIV in vitro diagnostics business
Cambridge
Biotechnology
Ltd.* (UK)
Biovitrum AB*
(Sweden)
3/21/05
4/25/05
ND
CBL, which is developing drugs to treat
obesity, pain and inflammation, will operate
as an autonomous R&D unit in the UK
uHTS business
of Carl Zeiss
Group (Germany)
Evotec OAI AG
(Germany; FSE:
EVT)
5/9/05
5/9/05
ND
Evotec Technologies GmbH acquired the
ultra-high-throughput business of Zeiss
and assumed service responsibility for
installed instruments
CeeTox Inc.*
North American 5/24/05
Science
Association Inc.*
5/24/05
ND
NAMSA acquired 51% of CeeTox and would
purchase the remainder as certain milestones are reached
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Value
(M)***
Terms/Details
173
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Cellective
Therapeutics
Inc.*
MedImmune
Inc. (MEDI)
9/14/05
10/17/05
ND
MedImmune made an up-front payment
and could add milestone payments that
together total $160M for Cellective, which
is developing monoclonal antibodies that
target B-cell antigens
Celltech
Manufacturing
Services Ltd.
(UK; unit of UCB)
Inyx Inc.
(OTC BB:IYXI)
8/26/05
8/31/05
€27.5
($34)
The manufacturing facility’s name was
changed to Ashton Pharmaceuticals Ltd.;
it will operate as Inyx Europe Ltd.
Celmed
BioSciences
Inc.* (Canada)
Theratechnologies Inc.
(Canada; TSE:TH)
6/20/05
6/20/05
C$2.8
($2.3)
A group of minority Celmed shareholders
purchased Theratechnologies’ 37% stake in
the company; the total could increase to
C$8.4M if certain milestones are reached
Cita NeuroPharmaceuticals
Inc.* (Canada)
Vernalis plc
(UK; VNLS)
1 1/18/05
12/14/05
£17
($29.8)
Vernalis issued 26.9M shares in the deal,
24.3M of which concurrently were sold in a
private placement that brought Cita shareholders £15.5M in gross proceeds
Computational
Biology Corp.*
Agilent
Technologies
Inc. (NYSE:A)
1/5/05
1/5/05
ND
Agilent acquired CBC, which developed a
microarray-based technique for analysis of
gene regulation in disease
Control Delivery
Systems Inc.*
pSivida Ltd.
(Australia; PSDV)
10/3/05
1 1/15/05
$88
CDS shareholders received 1 6M pSivida
American depositary shares in the deal,
representing 40% of the merged company
Corgentech
Inc. (CGTK)
AlgoRx
Pharmaceuticals
Inc.*
9/26/05
12/16/05
ND
AlgoRx shareholders received Corgentech
stock representing 62% of the merged
company
Corixa Corp.
(CRXA)
GlaxoSmithKline
plc (UK)
5/2/05
7/12/05
$300
GSK paid $4.40 in cash for each Corixa
share, a 48% premium to the April 28 closing price; they had been collaborating on
development of vaccines
CyVera Corp.*
Illumina Inc.
(ILMN)
2/22/05
4/1 1/05
$16.8M
Illumina issued 1.6M shares and paid $2.5M
in cash for CyVera, which has a digital
microbead platform
Delex
Therapeutics
Inc.* (Canada)
YM BioSciences
Inc. (Canada;
TSE:YM)
4/13/05
5/3/05
C$10.1
($8)
YM issued about 1.59M shares in the
deal initially and will issue about 1.82M
more shares over two years; Delex could
earn another 2.78M shares related to milestones on its Phase II product AeroLEF for
pain in cancer patients and $4.75M in cash
or shares upon a product approval
174
Terms/Details
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Diagnostic
Systems
Laboratories
Corp.*
Date
Announced
Date
Completed
Value
(M)***
Beckman Coulter 10/7/05
Inc.
10/18/05
ND
DSLC provides specialty immunoassays,
including technology for reproductive
endocrinology and cardiovascular risk
assessment
Discovery
Innovations
Inc.*
Entelos Inc.*
5/26/05
5/26/05
ND
Entelos acquired Discovery Innovations,
which provides data integration products
and services for the life sciences
Discovery
Systems unit
of Discovery
Partners
International
Inc. (DPII)
Nexus
Biosystems
Inc.*
10/7/05
10/14/05
$1.5
Nexus acquired the IRORI chemical synthesis systems, Crystal Farm automated protein crystallization and Universal Store
compound storage systems businesses;
Nexus was set up by Discovery’s former
chief technology officer
Dragon
Pharmaceutical
Inc. (Canada;
TSE:DDD)
Oriental Wave
Holding Ltd.*
(China)
3/24/04
1/14/05
ND
Companies merged in a deal giving Dragon
about 31.65% of the combined company;
Oriental Wave, incorporated in the British
Virgin Islands, is the sole shareholder of a
China-based pharmaceutical company
Dynal Biotech*
(Norway)
Invitrogen
Corp. (IVGN)
2/8/05
4/1/05
NOK2.5B
($391)
Invitrogen purchased the company, which
is focused on magnetic bead technologies,
from majority-owner Nordic Capital and a
co-investor
EasyWeb Inc.
(OTC BB:ESWB)
ZioPharm Inc.*
8/3/05
9/15/05
ND
The combined company is named ZioPharm
Oncology Inc.; the ticker symbol was
changed to “OTC BB:ZIOP”
Echelon
Biosciences
Inc.*
AEterna
Zentaris Inc.
(Canada; AEZS)
1/6/05
1/6/05
$2.7
AEterna issued 443,905 shares valued at
$2.7M in the deal; Echelon shareholders
could earn another $2.9M in stock if certain
milestones are reached
Emergent
Genetics Inc.*
Monsanto Co.
2/17/05
4/5/05
$300
Monsanto paid $300M in cash and commercial paper for the cotton seed company
Esoterix Inc.*
Laboratory Corp. 3/30/05
of America
Holdings
5/1 1/05
$150
LabCorp paid $150M in cash for Esoterix, a
provider of specialty reference testing
ESP Pharma
Holding Co.
Inc.*
Protein Design
Labs Inc. (PDLI)
3/24/05
$486
PDL paid $325M in cash and issued 9.85M
shares to acquire ESP, which was founded
around the acquisition of several products
from Wyeth
1/25/05
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Terms/Details
175
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Evotec
Neurosciences
(UK)
Evotec OAI
AG (Germany;
FSE:EVT)
3/6/05
3/6/05
Eyetech
Pharmaceuticals
Inc. (EYET)
OSI
Pharmaceuticals
Inc. (OSIP)
8/21/05
1 1/14/05
GemVax A/S*
(Norway)
Pharmexa A/S
(Denmark; CSE:
PHARMX)
4/12/05
Genaissance
Pharmaceuticals
Inc. (GNSC)
Clinical Data
Inc. (CLDA)
6/21/05
GenBase Inc.*
Value
(M)***
Terms/Details
€49
($65.5)
Evotec issued 14.3M shares to acquire the
78% of ENS it did not already own; ENS was
formed by Evotec in 1999 and focuses on
central nervous system diseases
$935
OSI paid stock and cash worth $20 per
Eyetech share, a 43% premium to the Aug.
19 price; 75% of the price was paid in cash
6/9/05
DKK32
($4.9)
Pharmexa issued 1.4M shares worth
DKK32M in the deal, and would pay another
DKK33M if the cancer vaccine GV100 1
enters Phase III trials by September 2006
10/7/05
$56
Genaissance shareholders received about
2.3M Clinical Data shares in the deal, as
well as preferred stock and options and
warrants
Integrated DNA
12/15/05
Technologies Inc.*
12/15/05
ND
GenBase is a supplier of custom oligonucleotides
Genencor
International
Inc. (GCOR)
Danisco A/S
(Denmark; CSE:
DCO)
1/27/05
4/20/05
$592
Danisco paid $1 9.25 per share for the
shares it did not not already hold; it
already held 42% of Genencor, as did
Eastman Chemical Co., which agreed to
the sale
GeneXP
BioSciences
Inc.*
MetriGenix
Inc.* (Canada)
12/15/04
6/7/05
ND
GeneXP is developing a portfolio of gene
expression biomarker tests; terms of the
deal were not disclosed
Global
Genomics AB*
(Sweden)
Genizon
BioSciences
Inc.* (Canada)
5/1 1/05
5/1 1/05
ND
Genizon acquired the majority of the assets
and staff of Global Genomics, which has
sequencing and data-analysis technologies
GlycArt
Biotechnology
AG* (Switzerland)
F. HoffmannLa Roche Ltd.
(Switzerland)
7/19/05
7/26/05
CHF235
($183)
Roche paid cash to acquire GlycArt;
GlycArt has GlycoMAb glycosylation technology, which increases antibody-dependent cellular cytotoxicity
Greenwich
Therapeutics*
VioQuest
5/4/05
Pharmaceuticals
Inc. (OTC BB:VQPH)
10/19/05
$7.3
Greenwich got 17.1M shares of VioQuest
stock and five-year warrants to purchase
another 4M shares at $1.41; release of half
the shares and warrants are tied to milestones related to Phase I and II trials of two
cancer compounds; the value is based on
half the shares at the Oct. 18 closing price
176
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
G2M Cancer
Drugs AG*
(Germany)
TopoTarget
A/S* (Denmark)
3/1/05
3/1/05
Guilford
Pharmaceuticals
Inc. (GLFD)
MGI Pharma
Inc. (MOGN)
7/21/05
10/3/05
Hematech
LLC*
Kirin Brewery
Co. Ltd. (Japan)
7/25/05
Hormos
Medical Corp.*
(Finland)
QuatRx
Pharmaceuticals
Co.*
H3 Pharma*
(Canada)
Value
(M)***
Terms/Details
ND
TopoTarget acquired G2M, which is developing HDAC inhibitors for cancer indications
$177.5
MGI issued 5.3M shares and paid $53.9M in
cash, equaling $3.75 per Guilford share;
the price was a 55.6% premium to Guilford’s
July 20 close
7/25/05
$45
Kirin paid cash for Hematch, which produces bovine-derived polyclonal antibodies; the companies began working together
in 1999 on the development of human antibody-producing cows
5/16/05
5/16/05
ND
Hormos became a wholly owned subsidiary
of QuatRx; offices will be maintained in
Finland
Debiopharm
SA* (Switzerland)
3/1/05
3/1/05
ND
Debiopharm purchased all the outstanding
shares of H3 Pharma from Societe Generale
de Financement du Quebec; Debiopharm
and SGF created H3 Pharma in 2001
HVL Inc./
Douglas
Laboratories
Atrium
Biotechnologies
Inc. (Canada; TSE:
ATB)
12/8/05
12/8/05
C$107
($92)
Atrium, 48.5% owned by AEterna Zentaris
Inc., paid C$97M in cash and C$10M in
stock for HVL, which has been marketing
health and nutritional products for more
than 50 years
Icoria Inc.
(OTC BB:ICOR)
Clinical Data
Inc. (CLDA)
9/20/05
12/20/05
$1 1
Icoria shareholders received stock representing about 7.6% of the merged company
ID Biomedical
Corp. (Canada;
IDBE)
GlaxoSmithKline
plc (UK)
9/7/05
12/8/05
C$1.7B
($1.4B)
GSK paid C$35 per share, or C$1.7B, a
premium of 13% to the price before the
deal’s announcement; GSK also assumed
US$77 million in ID debt
Idun
Pharmaceuticals
Inc.*
Pfizer Inc.
2/24/05
4/12/05
ND
Idun focuses on the discovery and development of therapies to control apoptosis;
terms of the deal were not disclosed
Igeneon AG*
(Austria)
Aphton Corp.
(APHT)
12/15/04
3/24/05
$27.1
Igeneon stockholders received 2 1.5M
Aphton shares in the deal; Igeneon became
a wholly owned Aphton subsidiary
IngenKO Pty.
Ltd.* (Australia)
GenOway SA*
(France)
10/7/05
10/7/05
ND
GenOway took over the commercial activities for IngenKO following the Australian
company’s closure
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
177
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Iliad
Chemicals Pty.
Ltd. (Australia)
Bionomics
Ltd. (Australia;
ASX:BNO)
5/25/05
6/26/05
A$9
($6.8)
Bionomics issued about 40.9M shares in
the deal, and would issue 1 3.6M more
shares worth A$3M if certain milestones
are met
ImmunoDesigned
Molecules SA*
(France)
Epimmune
Inc. (EPMN)
3/16/05
8/16/05
$105
IDM shareholders hold about 78% of the
merged company, which was renamed IDM
Pharma Inc.; the new Nasdaq symbol is
“IDMI”
ImVision GmbH
(subsidiary of
BioVision AG;
Germany)
Nextech Venture
LP (Switzerland)
5/3/05
5/3/05
ND
The Swiss investment firm purchased the
BioVision spin-off, which is developing
immunotherapeutics based on its modular
antigen transport technology
Inhibetex
Therapeutics
Inc.*
Organic Soils.com 3/29/05
Inc. (OTC BB:
OSLC)
5/26/05
ND
Inhibetex owns about 83% of the company
following the reverse merger; the company
changed its name to Inhibition Therapeutics Inc., and the stock symbol changed to
“IHBT”
InKine
Pharmaceutical
Co. Inc. (INKP)
Salix
Pharmaceuticals
Inc. (SLXP)
6/23/05
10/3/05
$190
InKine shareholders received 9M Salix
shares in the deal; InKine will continue as a
wholly owned Salix subsidiary
Inovio A/S*
(Norway)
Genetronics
Biomedical
Corp. (AMEX:GEB)
1/26/05
1/26/05
$10
Genetronics paid $3M in cash and $7M in
shares of Series D convertible stock in the
deal for the gene-delivery company; the
value would increase if milestones are met
Ionix
Pharmaceuticals
Ltd.* (UK)
Vernalis plc
(UK; VNLS)
7/6/05
7/26/05
£12.5
($22)
Vernalis issued about 17.85M shares in the
deal, or 8% of the company; Ionix shareholders will get another 1.84M shares in July
2006
Ischemia
Technologies
Inc.*
Inverness
Medical
Innovations
Inc. (AMEX:IMA)
2/16/05
3/16/05
$20.7
Inverness issued about 970,000 shares to
acquire Ischemia, which markets an in vitro
diagnostic test for cardiac ischemia
Ivory Capital
Corp. (OTC BB:
IVRC)
Chelsea
Therapeutics
Inc.*
1/21/05
2/16/05
ND
Chelsea shareholders own about 96.75%
of the combined company following the
reverse merger; the trading symbol has
changed to CHTP
2/22/05
2/22/05
ND
Julich provides products and services for
the biocatalytic production of chiral pharmaceutical intermediates; terms were not
disclosed
Julich Fine
Codexis Inc.*
Chemicals
GmbH* (Germany)
178
Terms/Details
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
LemnaGene
SA* (France)
Biolex
Therapeutics
Inc.*
7/28/05
7/28/05
ND
LemnaGene is using the aquatic plant
Lemna to produce recombinant proteins;
Biolex also has a Lemna-based manufacturing program
Lifespan ePTFE
business of
Edwards Lifesciences Corp.
Angiotech
1 1/3/05
Pharmaceuticals
Inc. (Canada; ANPI)
12/1/05
$14
Angiotech paid $1 4M in cash for the
vascular graft business; Edwards retains
certain distribution rights
Lorantis Ltd.*
(UK)
Celldex
10/12/05
Therapeutics Inc.
(majority owned
by Medarex Inc.;
MEDX)
10/12/05
ND
Celldex issued 6.8M shares of Class A common stock for Lorantis, which brings a preclinical program in immunity and $30M in
cash
LumiCyte Inc.*
Qiagen NV
(the Netherlands;
QGEN)
8/1/05
8/8/05
$3
Qiagen is paying $3M up front in the
acquisition; milestone payments of up to
$13M relating to financial targets could be
paid in 18 to 60 months
Lynx
Therapeutics
Inc. (LYNX)
Solexa Ltd.*
(UK)
8/13/04
3/7/05
$142
Solexa was issued 14.75M shares in the deal
and owns 80% of the combined company,
named Solexa Inc. and trading under the
“SLXA” ticker symbol
Medac GmbH*
(Germany)
Schering AG
(Germany)
6/9/05
6/9/05
ND
Medac shareholders purchased the 25%
stake held by Schering for a two-digit million-euro price; Schering also acquired from
Medac the remaining 50% of their joint
venture, Medac Schering Onkologie GmbH
Metagen
Pharmaceuticals
Inc.*
Esprit Pharma
Inc.*
9/16/05
9/16/05
ND
Esprit acquired Metagen and its operating
subsidiaries, Star Pharmaceuticals and
Stellar Pharmacal; terms were not disclosed
Microscience
Ltd.* (UK)
Emergent
BioSolutions
Inc.*
6/27/05
6/27/05
$73
Microscience, which pulled its plans for an
IPO in July, was acquired for stock valued
at $73M; its name changed to Emergent
Europe
Molecular
Engine
Laboratories*
(France)
Cerep SA
(France; Nouveau
Marche:CERF)
5/25/04
1/7/05
€4.7
($6.1)
Cerep issued 400,000 shares in the deal,
or 3.35% of the merged company; Cerep
also would pay royalties of 5% or 8% to MEL
shareholders on the first diagnostic and
therapeutic products approved or licensed
Molecular
Imaging Corp.*
Agilent
Technologies
Inc. (A)
1 1/29/05
1 1/29/05
ND
Molecular Imaging developed atomic force
microscopes, which are used by nanotechnology researchers
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Value
(M)***
Terms/Details
179
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Molecular
SkinCare Ltd.*
(UK)
York Pharma
plc (UK; LSE:YRK)
2/1/05
2/1/05
MRC
Geneservice*
(UK)
Medical
Research
Council (UK)
6/6/05
6/6/05
ND
Management of MRC Geneservice bought
the unit, and renamed it Geneservice Ltd.;
terms were not disclosed
Multichem
Inc.* (Canada)
AEterna
Zentaris Inc.
(Canada; AEZS)
1/25/05
1/25/05
C$23.8
($19.2)
Atrium Biotechnologies Inc., a majorityowned AEterna subsidiary, paid C$22.2M of
the total in cash; Multichem sells active
ingredients and specialty chemicals
Murinus GmbH*
(Germany)
GenOway SA*
(France)
1/12/05
1/12/05
ND
Murinus provides genetically modified animal models and offers transgenic services;
terms of the deal were not disclosed
Microarray unit
of MWG Biotech
AG (Germany;
FSE:NWUG)
Ocimum
Biosolutions
(India)
2/25/05
4/25/05
ND
Ocimum will continue MWG operations in
Germany, and plans to start wet lab services in India as part of the expansion
Neighborhood
Lpath
Connections
Therapeutics
Inc. (OTC BB:NBHC) Inc.*
7/15/05
12/8/05
ND
Lpath acquired Neighborhood Connections
in a reverse merger; the name was changed
to Lpath Inc. and the ticker symbol to
OTC BB:LPTN
NeoGenesis
Pharmaceuticals
Inc.*
Schering-Plough
Corp.
1/20/05
2/18/05
ND
Terms of the deal were not disclosed; they
have been collaborating since 1999; NeoGenesis has screening and chemistry technologies for small-molecule drug discovery
Neurofit*
(France)
Bionomics Ltd.
(Australia;
ASX:BNO)
12/16/04
3/2/05
€1.25
($1.65)
Bionomics paid €1M in cash and €0.25M in
stock to acquire Neurofit, which conducts
contract research and preclinical testing
Nexia
Biotechnologies
Inc. (Canada;
TSE:NXB)
PharmAthene
Inc.*
1/6/05
3/10/05
$18
PharmAthene paid $1 1.2M in cash and
issued 7.5 million Series C convertible preferred shares at $0.91 per share, as well as
warrants to acquire 1.3M shares
Nextal
Biotechnology
Inc.* (Canada)
Qiagen NV
(the Netherlands;
QGEN)
6/30/05
7/1/05
$9.7
Qiagen is paying $9.7M in cash and would
pay another $4.5M if certain milestones are
met; Nextal provides sample preparation
tools
NovaScreen
Biosciences
Corp.*
Caliper Life
Sciences Inc.
(CALP)
9/8/05
10/4/05
$22
Caliper paid $22M and could pay up to
$8M more if revenue milestones over 30
months are reached; payment was 80% in
stock and 20% in cash
180
Value
(M)***
£5.5
($10.3)
Terms/Details
York issued about 5M shares in the deal
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
NovAseptic
AB* (Sweden)
Millipore Corp.
7/7/05
8/9/05
Nurel
Therapeutics
Inc.*
Diamyd Medical
AB (Sweden;
SSE:DIAMB)
1 1/22/05
12/16/05
O.E.M.
Concepts Inc.*
Meridian
Bioscience
Inc. (VIVO)
1 1/10/04
Optive
Research Inc.*
Tripos Inc.
(TRPS)
Orphan Medical
Inc. (ORPH)
Osmotics
Pharma Inc.*
Value
(M)***
Terms/Details
SEK720
($91)
Millipore is paying $9 1M in cash for
NovAseptic, which provides solutions for
aseptic processing applications in drug
manufacturing operations
$1.5
Diamyd issued stock valued at $1.5M in the
deal, as well as stock to pay off Nurel loans;
the shares represent about 4% of Diamyd
2/1/05
$6
O.E.M. received $6M in cash in the deal and
could earn another $2.3M over four years
12/22/04
1/5/05
$7.9
Tripos issued 599,52 1 shares that were
valued at $3.17M and paid $4.75M in cash
for Optive, which develops software for
computer-assisted molecular discovery
Jazz
Pharmaceuticals
Inc.*
4/19/05
6/24/05
$145
Privately held Jazz paid $10.75 per share in
cash for Orphan’s outstanding shares,
a premium of about 26% to the close the
day before the deal was disclosed
OnSource Corp.
(OTC BB:OSCE)
4/12/05
5/1 1/05
ND
OnSource issued about 1 1.4M shares, giving
OPI 92% of the combined company;
OnSource also issued 1M shares of 6%
convertible stock worth $4M, 1.1M warrants
and 2.7M stock options; the firm’s name
changed to Ceragenix Pharmaceuticals Inc.
and the symbol changed to “CGXP”
Panacos
V.I. Technologies 6/3/04
Pharmaceuticals* Inc. (VITX)
3/1 1/05
$166
Vitex issued 227.5M shares in the deal,
leaving Panacos with about 80% ownership
of the combined company
ParAllele
BioScience Inc.*
Affymetrix
Inc. (AFFX)
5/31/05
10/24/05
$132.5
Affymetrix issued 2.29M shares worth
$120.8M and paid $1 1.7M in cash to acquire
ParAllele, with which it had been partnered
for two years
Peninsula
Pharmaceuticals
Inc.*
Ortho-McNeil
4/19/05
Pharmaceuticals
Inc. (unit of Johnson
& Johnson)
6/30/05
$245
The all-cash acquisition did not include
Peninsula’s PPI-0903, a broad-spectrum
cephalosporin, which will be spun out
into a new company, Cerexa Inc.
Certain assets of
Poalis A/S*
(Denmark)
Evolva SA*
(Switzerland)
9/2/05
ND
Evolva acquired the pharmaceutical assets
of Poalis; Poalis’ assets in food and flavor
chemicals and agriculture were not included in the deal
9/2/05
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
181
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
ProBio
International
Holdings Pte.
Ltd.* (Australia)
Pharming
Group NV (the
Netherlands;
Euronext:PHARM)
12/28/04
1/24/05
ND
Pharming issued shares representing 1.5%
of the company in acquiring the 55% of
ProBio it did not already own
ProCorde
Trigen Holdings
GmbH* (Germany) plc* (UK)
4/1 1/05
4/1 1/05
ND
The cardiovascular-focused companies
merged to form Trigen Holdins AG, which
will maintain sites in the UK and Germany
ProCyte Corp.
(OTC BB:PRCY)
PhotoMedex
Inc. (PHMD)
12/1/04
3/18/05
$28.2
PhotoMedex issued about 10.5M shares in
the deal, giving ProCyte about 21% of the
combined company
Proteome Inc.
(subsidiary of
Incyte Corp.;
INCY)
Biobase GmbH*
(Germany)
1/18/05
1/18/05
ND
Acquiring Proteome strengthened Biobase’s
position in biological databases; terms of
the deal were not disclosed
Prosidion
Ltd.* (UK)
OSI
Pharmaceuticals
Inc. (OSIP)
4/18/05
4/18/05
$4.3
OSI issued 84,940 shares to acquire all
the minority-interest shares in its UK
subsidiary (about 2.7% of Prosidion)
Proxima
Therapeutics
Inc.*
Cytyc Corp.
(CYTC)
2/9/05
3/7/05
$160
Cytyc paid $1 60M in cash to acquire
Proxima, which could earn up to $65M
more based on sales of breast cancerrelated products
PsycheNomics
Inc.*
Novasite
Pharmaceuticals
Inc.*
6/15/05
6/15/05
ND
Novasite acquired PsycheNomics, which
focuses on drug discovery for diseases of
the central nervous system
Pyramid
Biological
Corp.*
Life
Therapeutics
(ASX:LFE)
7/6/05
9/22/05
$13
Life Therapeutics paid $13M, and assumed
$7M in debt; another $5M could be paid if
milestones are reached
Quadrant
Technologies
Ltd.* (UK)
ML Laboratories
plc (UK; LSE:MLB)
6/16/05
7/14/05
£46.7
($85)
Combined company name is Innovata plc;
ML paid £1 9.5M cash and the rest in
shares as part of the 50-50 merger; ML also
paid £1.85M cash and shares to acquire
the 18.75% interest in Innovata that Biomed
did not already own
Quantum Dot
Corp.*
Invitrogen
Corp. (IVGN)
10/6/05
10/6/05
ND
Terms of the acquisition were not disclosed
Research
Diagnostics
Inc.*
Trinity Biotech
Inc. (Ireland;
TRIB)
3/21/05
3/21/05
$4.2
Trinity paid $4.2M in cash for RDI, a provider of immunodiagnostic products
182
Value
(M)***
Terms/Details
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Rexahn Corp.*
Corporate
5/16/05
Roadshow.com
Inc. (OTC BB:CPRD)
5/16/05
ND
Rexahn owns 92% of the combined company following the reverse merger; the new
name is Rexahn Pharmaceuticals Inc., which
trades as “RXHN” on the OTC Bulletin Board
RNAture Inc.
(subsidiary of
Hitachi Chemical
Research Center
Inc.)
Qiagen NV
(the Netherlands;
QGEN)
5/2/05
5/2/05
ND
Qiagen bought the commercial operations
of RNAture, which include nucleic acid isolation products
SagaX Medical
Technologies
Inc.*
MIV
Therapeutics
Inc. (Canada;
OTC BB:MIVT)
3/18/05
3/18/05
ND
MIV acquired Sagax, a company incorporated in the U.S. with operations in Israel
that is developing devices for cardiovascular applications
Salmedix Inc.*
Cephalon Inc.
(CEPH)
5/12/05
6/14/05
$160
Cephalon paid $160M in cash, and could
pay up to $40M more in regulatory milestone payments; Salmedix is developing
compounds for hematologic malignancies
SansRosa
Pharmaceutical
Development
Inc.*
CollaGenex
Pharmaceuticals
Inc. (CGPI)
12/15/05
12/15/05
$0.75
Collagenex purchased 51% of SansRosa for
$0.75M and could pay up to $6M for the
rest of the company if milestones are
reached with SansRosa’s rosacea program
Savetherapeutics
AG* (Germany)
Medical
Discoveries Inc.
(OTC BB:MLSC)
3/16/05
3/16/05
€2.35
($3.14)
MDI paid cash to acquire Savetherapeutics,
which is developing a topical steroidal form
of aromatase inhibitor for breast cancer
Scantox
Biologisk
Laboratorium
A/S* (Denmark)
LAB
International
Inc. (Canada;
TSE:LAB)
2/10/05
2/10/05
C$6.1
($5)
About 90% of the price was paid on closing,
with the remainder payable by March 31,
2006, subject to post-closing adjustments;
Scantox is a contract research organization
Scientific
Software Inc.*
Agilent
Technologies
Inc. (NYSE:A)
5/25/05
7/1 1/05
ND
Agilent acquired SSI, a provider of scientific
information management solutions
Specialty Media
division of
Sentigen Holding
Corp. (SGHL)
Chemicon
International
Inc. (subsidiary
of Serologicals
Corp.; SERO)
2/22/05
2/22/05
$6.5
The division was part of Cell & Molecular
Technologies, which is owned by Sentigen;
the division has cell and stem cell research
technologies
Separtis
Holding AG*
(Switzerland)
Biotage AB
(Sweden; SSE:BIOT)
10/6/05
10/6/05
€1.4
($1.7)
Separtis is the Swiss, German and Austrian
distributor for many Biotage products
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Value
(M)***
Terms/Details
183
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Sertanty Inc.*
Eidogen Inc.*
3/9/05
3/9/05
ND
The private companies merged to form
Eidogen-Sertanty Inc., a provider of chemoinformatics and structural informatics
products and services
Shanghai
Genomics Inc.*
(China)
GNI Ltd.*
(Japan)
6/20/05
6/20/05
ND
The companies had been collaborating for
more than a year; the combined company
has more than 80 employees in Japan,
China and the UK
Sirenade
Pharmaceuticals
AG* (Germany)
KeyNeurotek
AG* (Germany)
12/13/05
12/13/05
ND
Both private German firms are focused
on central nervous system disorders;
Sirenade was formed in 2004 through the
merger of Nadag AG and SiREEN AG
Stem Cell
Ventures Inc.
(PK:SCVR; formerly
OncBio Inc.)
Stem Cell
Ventures Ltd.*
(UK)
12/6/05
12/6/05
ND
Former Stem Cell Ventures Ltd. shareholders own 94.8% of the combined company
following the reverse merger
Stressgen
Bioreagents
Corp.*
Assasy
Designs Inc.
7/12/05
7/12/05
ND
Stressgen Bioreagents was spun out of
Stressgen Biotechnologies Corp. in May;
Ampersand Ventures funded both deals
Bioreagents
business of
Stressgen
Biotechnologies
Corp. (Canada;
TSE:SSB)
Stressgen
Bioreagents
Corp.*
4/13/05
5/2/05
C$8
($6.4)
Twenty-six of Stressgen’s 103 employees
joined the newly formed bioreagents
company, which was funded by Ampersand
Ventures
Bioanylitical
business of
SuNyx GmbH*
(Germany)
Qiagen NV
(the Netherlands;
QGEN)
8/1/05
8/8/05
$0.8
Qiagen paid $0.8M up front and could pay
another $0.8M if certain milestones are
reached for SuNyx, which has nanotechnology-based sample preparation technology
Synthematix
Inc.*
Symyx
Technologies
Inc. (SMMX)
2/23/05
4/1/05
$13
Synthematix, which provides software systems for chemistry research, got $13M in
cash and could get $4M more based on
achievement of revenue targets for 2005
Syrrx Inc.*
Takeda
Pharmaceutical
Co. Ltd. (Japan)
2/7/05
3/16/05
$270
Syrrx became a subsidiary named Takeda
San Diego following the all-cash deal
Tarpan
Therapeutics
Inc.*
Manhattan
1/5/05
Pharmaceuticals
Inc. (OTC BB:MHTT)
ND
Manhattan issued stock equal to 20%
of the enlarged company to acquire Tarpan,
which is developing dermatological therapeutics
184
4/4/05
Value
(M)***
Terms/Details
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
TekCel*
Magellan
Biosciences*
5/16/05
5/16/05
ND
Magellan acquired TekCel, which has sample-management and assay-automation
systems for biomedical research
Tianwei Times*
(China)
Qiagen NV
(the Netherlands;
QGEN)
6/13/05
6/13/05
$2
Tianwei supplies nucleic acid sample preparation consumables in China; it could earn
another $2M in payments over two years
Trace
Genetics Inc.*
DNAPrint
Genomics Inc.
(OTC BB:DNAP)
6/21/05
6/21/05
$25
Trace shareholders received 25M DNAP
shares in the deal and options to purchase
5M additional shares at $0.02 each
TransForm
Pharmaceuticals
Inc.*
Johnson &
Johnson
3/9/05
4/4/05
$230
J&J paid $230M in cash for TransForm,
which was founded in 1999 and focuses on
drug formulations
Transkaryotic
Therapies Inc.
(TKTX)
Shire
Pharmaceuticals
Group plc (UK)
4/21/05
7/27/05
$1.6B
Shire paid $37 in cash for each TKT share,
a premium of 44% to the four-week average
before the deal was announced
Certain assets
of UroGene SA*
(France)
Laboratories
Pierre Fabre
(France)
1/24/05
1/24/05
ND
UroGene sold its chemistry platform and
two programs in cancer to Pierre Fabre as
part of a plan to divest its assets
Verigen AG*
(Germany)
Genzyme Corp.
(GENZ)
2/8/05
2/8/05
$10
Verigen could get another $40M over six
years based on achieving development and
commercial milestones; Verigen has a cell
therapy product for cartilage repair that
is sold in Europe and Australia
Vicuron
Pharmaceuticals
Inc. (MICU)
Pfizer Inc.
6/16/05
9/14/05
$1.9B
Pfizer paid $29.10 per share in cash, or
$1.9B, a 74% premium to the 90-day price
before the deal was disclosed
Viventia
Biotech Inc.
(Canada; TSE:VBI)
The Dan Group
1 1/14/05
12/23/05
ND
The Dan Group, which already held 90% of
the company following a recent investment, paid C$2.50 for each share it didn’t
own; the company became private following the deal
Drug Delivery
business of
West
Pharmaceutical
Services Inc.
Archimedes
Pharma Ltd.*
(UK)
2/8/05
2/9/05
$7.1
Archimedes, formed by three former Shire
Pharmaceuticals Group plc executives, paid
$7.1M for the drug delivery assets; West also
got 1 4% ownership in Archimedes and
would get a 3% royalty on any sales from
technology it contributed
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Value
(M)***
Terms/Details
185
2005 Biotechnology Mergers And Acquisitions Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Terms/Details
Xcel
Pharmaceuticals
Inc.*
Valeant
Pharmaceuticals
International
(NYSE:VRX)
2/2/05
3/1/05
$280
Valeant paid $280M in cash to acquire
the neurology company
XenoTrans
Ltd.* (Australia)
Revivicor Inc.*
6/23/05
6/23/05
ND
Revivicor purchased the assets and technology of XenoTrans, which was focused on
xenotransplantation
Xenova Group
plc (UK; XNVA)
(Bermuda)
Celtic Pharma
Group
6/24/05
9/1/05
£26.1
($48)
Celtic, a private equity firm, is paying up
to £26.1M in notes, cash or a blend of each
for Xenova; separately, Celtic licensed
technology and provided a $20M loan facility
Xtrana Inc.
(OTC BB:XTRN)
Alpha Innotech
Corp.*
12/14/04
10/3/05
ND
Xtrana shareholders own about 17% of the
combined company following the reverse
merger; they kept the Alpha Innotech name;
the stock symbol changed to OTC BB:APNO
Zeneus
Holdings Ltd.*
(UK)
Cephalon Inc.
(CEPH)
12/6/05
12/22/05
$360
Cephalon paid $360M in cash for Zeneus,
which markets a number of oncology
products in Europe
Zymed
Laboratories
Inc.*
Invitrogen
Corp. (IVGN)
1/10/05
2/14/05
$60
Invitrogen paid $60M in cash to acquire
the antibody manufacturer
$2.2B
Amgen intends to pay $2.2B in cash, or
$22.50 per Abgenix share, and assume
debt in the deal; they already are partnered
on cancer antibodies
$31
Regenera would own at least 52.2% of the
combined firm, which would assume the
Advanced Ocular Systems name and
headquarters
III. PENDING MERGERS AND ACQUISITIONS
Abgenix Inc.
(ABGX)
Amgen Inc.
(AMGN)
12/14/05
1Q:06
Advanced
Ocular Systems
Inc.*
Regenera Ltd.
(Australia; ASX:
RGA)
10/31/05
4Q:05
Research
products division
of Ambion
Inc.*
Applied
Biosystems
Group (NYSE: ABI)
12/27/05
1Q:06
$273
ABG intends to pay $273M in cash for the
division, which is a supplier of RNA-based
reagents
American
Pharmaceutical
Partners Inc.
(APPX)
American
BioScience
Inc.*
1 1/28/05
1H:06
$4.1B
ABI already owns 64.4% of APP; APP would
issue 86M additional shares, giving ABI
83.5% of the combined company; the combined company would change its name to
Abraxis BioScience
186
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Berna Biotech
Ltd. (Switzerland;
SWX:BBIN)
Crucell NV
(the Netherlands;
CRXL)
12/1/05
1Q:06
BCY
LifeSciences
Inc. (Canada;
CDNX:BCY)
Pipex
Therapeutics
Inc.*
10/21/05
ND
Celliance
(subsidiary of
Serologicals
Corp.; SERO)
SeraCare
Life Sciences
Inc. (SRLS)
1 1/29/05
Chiron Corp.
(CHIR)
Novartis AG
(Switzerland)
Gastrotech
Pharma A/S*
(Denmark)
DOR
BioPharma Inc.
(AMEX:DOR)
Hapto Biotech
Ltd.* (Israel)
Value
(M)***
Terms/Details
CHF591
($450)
Crucell is offering CHF15.72 per Berna share
in an all-stock deal; the combined company
would operate in the Netherlands under the
Crucell name; Novartis AG said on Dec. 19 it
was considering making a bid for Berna
ND
They agreed to negotiate a potential
merger under which Pipex would hold a
majority position in the combined company; Pipex is providing BCY a $50,000
bridge loan over four months
1Q:06
$3.7
The deal would strengthen SeraCare’s
position in molecular diagnostic reagents,
diagnostic intermediates and substrates
10/31/05
1H:06
$5.1B
Definitive agreement calls for Novartis to
acquire the 58% of Chiron it doesn’t
already own, or 1 13M shares, for $45 per
share in cash; Chiron on Sept. 5 rejected
Novartis’ earlier offer of $4.5 billion
1 1/2/05
1Q:06
$9
DOR intends to issue $9M in stock and
could pay $30M more in cash or stock if
certain milestones are reached
Ortec
12/15/05
International
Inc. (OTC BB:ORTN)
1Q:06
$5.6
Hapto shareholders would get 30.86M
Ortec shares, and warrants to purchase 3M
Ortec shares at 35 cents each
HealthLinx
Pty. Ltd.*
(Australia)
Cryptome
Pharmaceuticals
Ltd. (Australia;
ASX:CRP)
1 1/16/05
1Q:06
A$6
($4.4)
Cryptome intends to issue A$6M in stock
for HealthLinx, a company developing
diagnostic products
KuDOS
Pharmaceuticals
Ltd.* (UK)
AstraZeneca
plc (UK)
12/23/05
1Q:06
$210
Deal calls for AstraZeneca to pay $210M in
cash; KuDOS is developing cancer drugs
based on the inhibition of DNA repair
Maui General
Store Inc.
(OTC BB:MAUG)
Trinity
BioGenetics
Corp.*
12/13/05
1Q:06
ND
Palmera Holdings Inc. subsidiary Trinity
would own 91% of the combined company
following the reverse merger
Maxim
Pharmaceuticals
Inc. (MAXM)
EpiCept Corp.*
9/6/05
1Q:06
ND
EpiCept shareholders would get stock representing about 72% of the combined company; the merged firm would be valued at
about $136M
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
187
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Terms/Details
Metaphore
Pharmaceuticals
Inc.*
ActivBiotics
Inc.*
12/14/05
1Q:06
ND
Metaphore would become a wholly owned
subsidiary of ActivBiotics under the definitive merger agreement
Miikana
Therapeutics
Inc.*
EntreMed Inc.
(ENMD)
12/22/05
1Q:06
$21.2
EntreMed intends to issue 9.96M shares in
the deal and may pay up to $18M more in
stock or cash if certain clinical and regulatory milestones are met
Molecular
Molecular
Pharmacology
Pharmacology
Ltd. (Australia;
(USA) Ltd.
unit of PharmaNet (OTC BB:MLPH)
Group Ltd.; ASX:PNO)
12/5/05
1Q:06
$176
MPL USA intends to issue 88M shares to
acquire MPL, a wholly owned division of
PharmaNet
Sahajanand
Medical
Technologies*
(India)
MIV
Therapeutics
Inc. (Canada;
OTC BB:MIVT)
3/1 1/05
1Q:06
ND
The merger would bring together products
and drug-eluting technologies in coronary
stents; Sahajanand’s stents are sold in more
than 33 countries
Shenzhen PG
Biotech Co Ltd.*
(China)
Qiagen NV
(the Netherlands;
QGEN)
9/26/05
1H:06
$14.5
Qiagen intends to pay $14.5M in cash to
acquire Shenzhen, a supplier of PCR-based
molecular diagnostic kits in China
Survac ApS*
(Denmark)
Merck KGaA
(Germany)
1 1/21/05
4Q:05
€1 1
($13)
Survac is developing a technology to identify and modify peptides useful for therapeutic cancer vaccines (1 1/21)
Targeted
Molecules
Corp.*
Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)
5/25/05
4Q:05
C$5
($4)
Chromos intends to issue about 20. 1M
shares in the deal; TMC is developing two
antibody product candidates; Chromos said
in November a definitive agreement had
been reached; TMC would own 26% of the
merged company
Xcyte
Therapies Inc.
(XCYT)
Cyclacel Group
plc* (UK)
12/15/05
1Q:06
ND
Cyclacel shareholders would own about
80% percent of the combined company following the reverse merger
III. TERMINATED MERGERS AND ACQUISITIONS
Company
To Be Acquired
(Country; Symbol)
Acquiring
Company
(Country; Symbol)
Date
Announced
Termination
Date
Anosys Inc.*
Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)
3/15/05
4/1/05
188
Value
(M)***
C$3.6
($3)
Terms/Details
Chromos, while announcing it was restructuring its business, said negotiations on the
Anosys acquisition had ended; details
were not disclosed
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Mergers And Acquisitions (Continued)
Company
Acquired
(Country; Symbol)
Acquired By
Or Merged With
(Country; Symbol)
Date
Announced
Date
Completed
Value
(M)***
Terms/Details
Cengent
Therapeutics
Inc.*
Inncardio Inc.
(OTC BB:INDO)
4/1/05
1 1/14/05
ND
Cengent shareholders would have owned
45% of the combined company; Inncardio
said there was a default under a credit line
facility agreement
Corgenix
Medical Corp.
(OTC BB:CONX)
Genesis
Bioventures Inc.
(AMEX:GBI)
8/5/03
1/14/05
$8
Genesis planned to issue 1 4M shares in
the deal; Corgenix terminated the deal
due to a lack of a contingent financing
and the passing of expiration dates
IGI Inc.
(AMEX:IG)
Senetek plc
(OTC BB:SNTKY)
10/27/04
4/6/05
ND
Senetek called off merger discussions
following several revisions to the proposed
deal; the companies intend to collaborate
on their respective technologies
Osteotech
Inc. (OSTE)
Musculoskeletal
Transplant
Foundation
7/12/05
10/17/05
$107
MTF offered $6.25 per share in cash for
Osteotech, which in August rejected the
unsolicited proposal; MTF withdrew the
offer in October
Synt:em SA*
(France)
Sonus
Pharmaceuticals
Inc. (SNUS)
1 1/3/04
3/15/05
$12
Sonus decided to call off the merger,
saying a review showed it would be best to
operate as a stand-alone company at this
time
Notes:
# This chart is intended to include not only mergers and acquisitions of entire businesses, but also of divisions or subsidiaries of those businesses, where appropriate. In general, it does not include acquisitions of single products or of manufacturing facilities.
For those deals that were pending on Dec. 31, 2005, and for which the acquiring company was issuing stock, the value of
the transaction was calculated based on the closing price prior to the first announcement. For stock-based deals that
have been completed, the final value was calculated based on the closing price before the merger’s completion was
announced.
* Private companies are indicated with an asterisk.
** Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending
deals, on the date it was announced.
ND = Not disclosed; N/A = Not applicable.
Unless otherwise indicated, shares are traded on the Nasdaq exchange.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange;
CDNX = Canadian Venture Exchange; CSE = Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange;
LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board;
PK = Pink Sheets; SSE = Stockholm Stock Exchange; SWX = Swiss Stock Exchange; TSE = Toronto Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
189
2005 Biotech-Big Pharma Collaborations#: New Agreements
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Terms/Details (Date)
Addex
Ortho-McNeil
Pharmaceuticals Pharmaceutical Inc.
SA* (Switzerland) (unit of Johnson
& Johnson)
Collaboration to discover,
develop and sell compounds
that modulate allosterically
GPCRs for treating various
CNS diseases
Addex gets an up-front fee and research
funding for two years; it also could earn
milestone and royalty payments (1/17)
Adenosine
Therapeutics
LLC*
Collaboration and option deal
to further develop A2B
adenosine receptor antagonists
for Type II diabetes, asthma
and other disorders
Ortho-McNeil gets a one-year exclusive
option to certain compounds and will fund
a one-year research alliance; if the option
is exercised Adenosine would get an option
fee, research support and potential milestone and royalty payments (1/19)
Affectis
Mitsubishi
Pharmaceuticals Pharma Corp.
AG* (Germany)
(Japan)
Affectis will use its target
validation technology and
animal models in a deal to
develop drugs for affective
disorders
Affectis (formerly Neuronova AG) will work
on Mitsubishi targets in anxiety and
depression; terms of the deal were not disclosed (2/7)
Albany
Molecular
Research
Inc. (AMRI)
Eli Lilly and Co.
AMRI will provide chemistry
research on projects in
undisclosed areas identified
by Lilly
Terms of the fee-for-service deal were not
disclosed; the new deal continues a relationship between the companies that began in 1998 (2/8)
Albany
Molecular
Research
Inc. (AMRI)
Alcon Research
Ltd.
AMRI will screen its natural
product collections under a
two-year deal to discover and
develop ophthalmic drugs
AMRI will get service and library-access
fees, as well as potential milestone payments and sales royalties (1/7)
Allergy
Therapeutics
plc (UK; LSE:AGY)
Allerpharma
Inc. (Canada)
Allerpharma got rights to
market AT’s four-shot allergy
vaccine Pollinex Quattro in
Canada
They will collaborate on further development, and Allerpharma gets rights to sell
AT’s existing ragweed allergy in Canada;
AT gets up to $15M in milestone payments
and royalties on sales (1/5)
Alliance
Pharmaceutical
Corp. (OTC BB:
ALLP)
LEO Pharma
A/S (Denmark)
LEO plans to license rights to
develop and sell Oxygent
in Europe and Canada
Alliance subsidiary PFC Therapeutics LLC is
entitled to up-front, milestone and royalty
payments, subject to completion of due
diligence by LEO (1/3)
Alnylam
Medtronic Inc.
Pharmaceuticals
Inc. (ALNY)
Collaboration to develop
drug-device combinations
incorporating RNAi
therapeutics for treating
neurodegenerative disorders
If they enter product development after an
initial program, Alnylam would receive an
equity investment and could get additional
payments, as well as milestones and royalties for each product developed (2/9)
FIRST QUARTER
190
Ortho-McNeil
Pharmaceutical Inc.
(unit of Johnson
& Johnson)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Ambit
Biosciences
Inc.*
Bristol-Myers
Squibb Co.
Ambit will use its kinase
platform to characterize the
specificity of certain BMS
compounds
Terms of the deal were not disclosed (1/17)
Ambit
Biosciences
Inc.*
GlaxoSmithKline
plc (UK)
Ambit will use its platform
to profile kinase target
specificity of certain GSK
compounds
Terms of the deal were not disclosed (1/17)
Ambit
Biosciences
Inc.*
Pfizer Inc.
Ambit will apply its Reverse
Screening technology to
identify and characterize
protein targets of certain
Pfizer compounds
Terms of the deal were not disclosed (1/17)
Amphora
Discovery
Corp.*
Ortho-McNeil
Pharmaceutical
Inc. (unit of
Johnson &
Johnson)
They entered a multiyear
deal to discover and develop
treatments for inflammatory
diseases
Ortho-McNeil gets exclusive rights to existing Amphora compounds as well as new
ones discovered during the collaboration;
Amphora gets a license fee, research funding and potential milestone and royalty
payments (1/10)
Argenta
Discovery
Ltd.* (UK)
Novartis AG
(Switzerland)
Two-year drug discovery
collaboration in the area of
diabetes
Up to 18 Argenta scientists will work on the
Novartis program; terms of the deal were
not disclosed (1/24)
Ariad
Medinol Ltd.
Pharmaceuticals (Israel)
Inc. (ARIA)
Deal to develop stents and
other devices to deliver Ariad’s
mTOR inhibitor AP23573 in
angioplasty procedures
Ariad is eligible to receive license fees and
milestone payments of up to $39.25M, if
two products are developed, plus royalties
on product sales (1/27)
Avexa Ltd.
(Australia;
ASX:AVX)
Shire
Pharmaceuticals
Group plc (UK)
Avexa licensed rights to the
HIV compound SPD754 worldwide except North America
The deal includes reciprocal royalty provisions; Shire took an A$2M equity position
in Avexa, and has an option to acquire 4M
more shares following successful completion of ongoing Phase IIb trials (1/17)
Axxam Srl*
(Italy)
CyBio AG
(Germany)
Deal to develop and sell
technologies for drug discovery using automated luminescence screening systems
They each will contribute technology to the
effort; terms were not disclosed (2/8)
Basilea
Pharmaceutica
AG (Switzerland;
SWX:BSLN)
Cilag AG
International
(unit of Johnson
& Johnson)
Worldwide, exclusive deal
to develop and market
ceftobiprole, Basilea’s Phase III
broad-spectrum antibiotic
Basilea will get up-front and milestone
payments of up to $304M; it also would
get double-digit royalties on sales (2/3)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
191
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
BioCurex Inc.
(OTC BB: BOCX)
Abbott
Laboratories
Abbott licensed RECAF
technology, a cancer biomarker
that may be useful in new
diagnostic tests
BioCurex gets up-front fees, development
milestones and royalties on any sales;
Abbott gets worldwide, semi-exclusive
rights (3/29)
BioDelivery
Sciences
International
Inc. (BDSI)
Sigma-Tau
Group (Italy)
BDSI will apply its Bioral nanocochleate delivery technology
to formulate up to four
Sigma-Tau compounds
Sigma-Tau is buying $250,000 of BDSI
stock at $4.25 per share share and up to
$1.25M more if milestones are achieved;
BDSI also would get royalties on sales (1/20)
BioFocus plc
(UK; AIM:BIO)
Eli Lilly and Co.
Deal to discover compounds
that target nuclear hormone
receptors
The deal involves use of BioFocus’ highthroughput expertise; BioFocus will get
research fees that increase as the program
progresses (3/2)
BioImage A/S*
(Denmark)
Boehringer
Ingelheim GmbH
(Germany)
BI gained rights to use
BioImage’s Redistribution
technology in drug discovery
research
The technology is used for studying intracellular signaling events; terms of the deal
were not disclosed (1/31)
Biolex Inc.*
Centocor Inc.
(unit of Johnson
& Johnson)
Deal under which Biolex
will manufacture and help
advance certain Centocor
proteins using the
Biolex LEX System
Biolex, which will advance up to 10 proteins,
gets an up-front payment and potential
milestones and royalties; it also gets funding over three years to support scale-up of
parts of the system, and J&J will make an
equity investment in Biolex’s next financing
(3/21)
Cangene Corp.
(Canada; TSE:CNJ)
Baxter
Healthcare Corp.
Baxter assumed exclusive
rights to market Cangene’s
WinRho SDF immune globulin
product in the U.S.
Baxter already markets the product for
immune thrombocytopenic purpura in the
UK and intends to launch it in 10 other
European countries; terms were not disclosed (3/29)
Cellzome Inc.*
Ortho-McNeil
Pharmaceutical Inc.
(unit of Johnson
& Johnson)
Collaboration to identify
new medicines for treating
Alzheimer’s disease
Cellzome is providing access to its AD technology in exchange for a technology access
fee and research funding for two years, as
well as potential milestone and royalty payments (3/16)
Cenix
Schering AG
BioScience
(Germany)
GmbH* (Germany)
Research service agreement
to accelerate Schering’s
target discovery and
validation efforts
Cenix will validate collections of candidate
genes identified by Schering as possible
therapeutic drug targets; terms were not
disclosed (2/28)
CepTor Corp.
(OTC BB:CEPO)
JCR got a 15-year license to
market CepTor’s muscular
dystrophy product Myodur
in the Pacific Rim
The deal entitles CepTor to equity payments, milestone payments and doubledigit royalties on sales in the Pacific Rim
(3/2)
192
JCR
Pharmaceuticals
Co. Ltd. (Japan)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Cerep SA
(France; Nouveau
Marche:CERF)
Sanofi Synthélabo
Recherche
(France)
Cerep will synthesize
thousands of compounds
for Sanofi
The companies also renewed a discovery
deal signed in 1997 for 2005; terms were
not disclosed (2/14)
Cerus Corp.
(CERS) and
Baxter
International Inc.
BioOne Corp.
(Japan)
Letter of intent calls for BioOne
to sell the Intercept Blood
System for plasma in much of
Asia
Cerus gets $3M upon signing the letter of
intent; the companies last year entered a
a similar deal covering the system for
platelets in Japan (1/5)
ChemBridge
Corp.*
UCB Group
SA (Belgium)
ChemBridge will provide
chemistry services to help
UCB discovery efforts
Further details and financial terms were not
disclosed (3/2)
Coley
Pharmaceutical
Group Inc.*
Pfizer Inc.
Worldwide deal to develop
and sell Coley’s ProMune, a
Toll-like receptor 9 agonist,
for cancer indications
Coley gets $50M up front and up to $455M
more in milestone payments, plus royalties
on any sales; Pfizer may invest up to $10M
in Coley upon Coley’s initial public offering
(3/24)
Crucell NV (the
Mitsubishi Pharma
Netherlands; CRXL) Corp. (Japan)
and DSM Biologics
(the Netherlands)
Mitsubishi got rights to
use the PER.C6 cell line for
producing certain recombinant therapeutic proteins
Mitsubishi will make an up-front payment
and pay annual maintenance fees; further
terms were not disclosed (3/23)
Crucell NV (the
JCR
Netherlands; CRXL) Pharmaceuticals
and DSM Biologics Co. Ltd. (Japan)
(the Netherlands)
JCR got rights to use the
PER.C6 cell line for producing
certain recombinant
therapeutic proteins
JCR will make a research license payment
and annual maintenance fees; further terms
were not disclosed (3/10)
Crucell NV (the
F. Hoffmann-La
Netherlands; CRXL) Roche Ltd.
and DSM Biologics (Switzerland)
(the Netherlands)
Roche got a license to use
the PER.C6 cell line for
production of monoclonal
antibody products and a
specific undisclosed protein
Roche will provide a research license payment, annual maintenance fees and
research funding; further terms were not
disclosed (2/16)
Cyclacel Group
plc* (UK)
Altana Pharma
AG (Germany)
Cyclacel will use its expertise
in cell division to identify
molecular targets of specific
Altana drug candidates
Terms of the deal were not disclosed (3/16)
Cyntellect
Inc.*
Daiichi
Pharmaceutical
Co. Ltd. (Japan)
Daiichi will use Cyntellect’s
high-throughput cell-imaging
and cell-manipulation
technologies in drug discovery
Cyntellect will design and run LEAP cellbased assays against a Daiichi compound
collection; terms of the deal were not disclosed (3/30)
Second deal between the
companies gave DePuy
rights to autologous platelet
releasate therapy
The license excludes treatment of chronic
wounds; also, DePuy’s existing license for
spinal, orthopedic and neurosurgical applications will be converted to a nonexclusive
license; terms were not disclosed (3/8)
Cytomedix
DePuy Spine Inc.
Inc. (OTC BB:CYME) (unit of Johnson
& Johnson)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
193
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Dendritic Nano- The Dow
Technologies
Chemical Co.
Inc.* and
Starpharma
Holdings Ltd.
(Australia; ASX:SPL)
DNT and Starpharma
acquired Dow’s patent
portfolio in the field of
dendrimers (nanostructures)
Dow gained a significant equity stake in
DNT; Starpharma, which already owned
42% of DNT, will make an additional equity
investment in DNT in exchange for exclusive rights to polyvalent, dendrimer-based
pharmaceutical applications (1/25)
Diversa
Corp. (DVSA)
Merck & Co. Inc.
Diversa will apply its MedEv
platform in a collaboration to
develop therapeutic antibodies
for an undisclosed target
Diversa gets an up-front payment and
research funding; further terms were not
disclosed (1/1 1)
Eiffel
Technologies
Ltd. (Australia;
ASX:EIF)
Undisclosed
U.S. company
They signed a second deal in
three months; Eiffel will use its
re-engineering technology to
formulate an asthma drug
Eiffel will receive a $75,000 up-front payment for the two-month study; further
licensing deals could ensue (2/28)
EiRx
Merck & Co. Inc.
Therapeutics plc
(Ireland; AIM:ERX)
EiRx will perform research over
three months to demonstrate
its technology to Merck
EiRx will use it siRNA delivery technology,
which is used for validation of drug targets;
terms were not disclosed (2/7)
Entelos Inc.*
Organon
International
(the Netherlands)
They extended rheumatoid
arthritis collaboration to
develop and sell therapeutics
directed at targets identified
by Entelos
They entered the deal after three years of
research; Organon gets exclusive rights to
the targets and access to Entelos research
capabilities; Entelos gets co-promotion and
co-commercialization rights (2/15)
ESBATech AG*
(Switzerland)
Novartis Pharma
AG (Switzerland)
Collaboration for drug
discovery in the area of
receptor tyrosine kinase
inhibitors
Novartis gets nonexclusive access to ESBATech’s cellular high-throughput technology
under undisclosed terms (3/31)
Evotec OAI
AG (Germany;
FSE:EVT)
Mitsubishi
Pharma Corp.
(Japan)
Evotec will support the
advancement of compound
hit series for Mitsubishi drug
targets
Terms of the medicinal chemistry agreement were not disclosed (2/28)
4SC AG*
(Germany)
Sanwa Kagaku
Kenkyusho Co.
Ltd. (Japan)
4SC will apply its discovery
platform to develop drug
candidates against two
specific targets from SKK
4SC gets research funding over several
years and is eligible for research and clinical milestone payments, as well as royalties
on any resulting sales (2/15)
Galapagos
Genomics NV*
(the Netherlands)
GlaxoSmithKline
plc (UK)
GSK exclusively licensed
drug targets from Galapagos’
asthma and allergy program
They also entered a three-year deal to
discover further targets in asthma and
inflammatory diseases; Galapagos gets an
up-front payment, research funding and
potential milestone payments (1/5)
194
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Galenea
Corp.*
Otsuka
Pharmaceutical
Co. Ltd. (Japan)
Deal to discover drugs for
treating central nervous
system diseases
Otsuka will make an equity investment and
pay five years of R&D funding in exchange
for rights to targets and drug candidates;
Galenea also can get milestone and royalty
payments and would have an option to
participate in profit sharing (2/16)
Gamida-Cell
Ltd.* (Israel)
Teva Pharmaceutical
Industries Ltd.
(Israel)
Teva exercised an option to
enter a joint venture to develop and sell StemEx for
leukemia and lymphoma
Teva will invest up to $25M in the joint venture; it held the option as part of an investment in Gamida-Cell in 2003 (2/16)
GB
Therapeutics
Ltd.* (Canada)
Chiesi
Farmaceutici
SpA (Italy)
GB licensed Chiesi’s CHF1512,
a methyl-ester of levodopa
combined with carbidopa
The product is registered in Italy; Chiesi
gained an equity stake in GB; terms of the
exclusive license to the Parkinson’s disease
drug were not disclosed (1/27)
GeneGo Inc.*
GlaxoSmithKline
plc (UK)
GSK licensed use of the
MetaBase biology and
chemistry platform
GSK will apply MetaBase to drug discovery
efforts and integrate content with its internal informatics systems; terms were not
disclosed (1/31)
GeneGo Inc.*
Altana Pharma
AG (Germany)
Altana licensed use of the
MetaCore systems biology
platform
Terms of the deal were not disclosed (1/21)
Gene Network
Sciences*
Johnson & Johnson
Pharmaceutical
Research &
Development LLC
GNS will provide pathway
inference technology and
data-driven computer models
to J&J
The technology will help determine pathways data for a J&J preclinical oncology
compound; terms of the deal were not disclosed (3/7)
Genentech
Inc. (NYSE:DNA)
Ipsen SA
(France)
Deal to develop sustainedrelease formulations of
Genentech’s recombinant
human growth hormone
The alliance supplements an existing deal
under which Ipsen markets NutropinAq in
Europe and has rights elsewhere except
North America and Japan; terms of the deal
were not disclosed (3/21)
Genfit SA*
(France)
Pierre Fabre
Group (France)
Three-year collaboration to
develop a new family of
compounds for cardiovascular
and other diseases
Genfit will get research fees and potential
milestone and royalty payments; the deal is
separate from their ongoing collaboration
from 2001 (1/3)
Genomatica
Inc.*
Kyowa Hakko
Kogyo Co. Ltd.
(Japan)
Kyowa Hakko licensed
Genomatica’s modeling and
simulation platform
Genomatica is entitled to license fees and
milestone payments; the technology will be
used for producing high-quality fine chemicals (1/5)
Genome
Express*
(France)
bioMerieux
SA (France)
Genome Express will carry
out bacterial analyses
for bioMerieux
Terms of the deal were not disclosed (3/4)
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195
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Gen-Probe Inc.
(GPRO)
bioMerieux SA
(France)
bioMerieux exercised an option
to develop diagnostic products
for certain disease targets
using Gen-Probe’s ribosomal
RNA technologies
Gen-Probe gets a $4.5M license fee, while
bioMerieux retains options to develop diagnostics for other disease targets by paying
up to $3M more by the end of 2006 (1/20)
GenWay
Biotech Inc.*
Beckman
Coulter Inc.
BC got access to GenWay’s
IgY microbead technology,
which can be used in detecting
biomarkers and drug targets
The exclusive license agreement also
provides a basis for future collaboration on
development of GenWay’s IgY capture technology; terms were not disclosed (3/31)
Geron Corp.
(GERN)
Cambrex
Bio Science
Walkersville Inc.
Cambrex will develop and
distribute cell lines that have
been immortalized using
Geron’s telomerase technology
Geron gets an up-front license fee and royalties on any sales and retains all rights for
the use of telomerized cells in therapeutic
applications (1/1 1)
Gilead
Sciences Inc.
(GILD)
Japan Tobacco
Inc. (Japan)
Gilead got exclusive rights
outside Japan to develop
an HIV integrase inhibitor
(JTK-303)
JT gets $15M up front and up to $90M in
milestone payments, as well as royalties on
any sales; Gilead plans to start Phase I/II
trials by mid-2005 (3/22)
Helix
Apotex Group
BioPharma Corp. (Canada)
(Canada; TSE:HBP)
Helix will identify and characterize a lead formulation for
Apotex’s topical therapeutic
product line
The work will be done by Helix subsidiary
PharmaDerm Laboratories; terms were not
disclosed (2/28)
Helix BioMedix
Inc. (OTC BB:
HXBM)
Smith & Nephew
plc (UK)
Smith & Nephew got a right of
first offer to license rights to
certain wound-related indications for the peptide HB50
Smith & Nephew will provide development
input; terms of the deal were not disclosed
(1/21)
Human
Metabolome
Technologies
Inc.* (Japan)
Mitsubishi
Pharma Corp.
(Japan)
Collaboration to find a biomarker for phospholipidosis,
a lipid storage disorder
HMT will apply its metabolome technology
in the deal, terms of which were not disclosed (2/14)
Iceland
Genomics
Corp.* (Iceland)
Roche Diagnostics
(Switzerland)
Collaboration to analyze
patient samples for discovery
of cancer biomarkers
IGC gets access to certain gene-expression
data and support for further biological
characterization of the samples in Iceland;
terms of the deal were not disclosed (3/17)
Icoria Inc.
(ICOR)
Syngenta Ltd.
(Switzerland)
Syngenta got exclusive
rights to develop 30 Icoria
compounds believed to be
active fungal inhibitors
Syngenta will evaluate the compounds over
18 months, then could develop them in
agricultural, human and other applications; Icora gets an up-front payment and
could receive milestone and royalty payments (2/28)
196
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
ImClone
Systems Inc.
(IMCL)
Pharma Co.
(Country)
Centocor Inc.
(unit of Johnson
& Johnson)
Type/Product Area
Term/Details (Date)
ImClone licensed patents
covering various aspects of
antibody technology and
uses of EGFR antibodies
The license relates to ImClone’s approved
product Erbitux and its investigational drug
IMC-1 1F8; terms were not disclosed (1/26)
Infinity
Johnson & Johnson
Pharmaceuticals Pharmaceutical
Inc.*
Research and
Development LLC
J&J got nonexclusive access
to Infinity’s compound
collection to identify drug
leads
Infinity received an undisclosed up-front
fee and an equity investment (1/6)
Infinity
Novartis AG
Pharmaceuticals (Switzerland)
Inc.*
Two-year deal to design
small molecules to be
synthesized by Infinity using
its chemical technology
platform
Infinity received an equity investment and
is expected to receive more than $10M in
additional fees; each company can use the
resulting compound collection in its own
discovery efforts (1/5)
Inpharmatica
Ltd.* (UK)
Pfizer Inc.
Pfizer gained access to
parts of Inpharmatica’s
PharmaCarta platform
The deal for target-selection technology is
in addition to Pfizer’s Biopendium subscription; terms were not disclosed (1/25)
Intercell AG
(Austria;
ATX:ICLL)
Biological E.
Ltd. (India)
Deal under which Biological
E. will manufacture and sell
Intercell’s Japanese
encephalitis vaccine in Asia
The companies said they intend to work
together in the future on other vaccines;
terms were not disclosed (3/18)
Ionix
Reckitt Benckiser
Pharmaceuticals Healthcare (UK)
Ltd.* (UK)
Collaboration on Ionix’s
IX-1003 for post-operative pain
and the preclinical products
IX-1004 and IX-1005 for pain
and opiate addiction
All three products are based on intranasal
delivery of RBH’s buprenorphine; Ionix is
eligible for milestone and royalty payments
and retains an option to co-promote IX1003 in the U.S. (2/28)
Jerini AG*
(Germany)
Alcon Research
Ltd.
Multitarget collaboration
to develop drugs for
ophthalmology indications
Jerini gets up-front and license fees as well
as personnel funding, along with potential
milestone and royalty payments (1/19)
Juvantia
Pharma Ltd.*
(Finland)
Alcon Research
Ltd.
Deal giving Alcon access to
Juvantia compounds, which it
will evaluate for treating
ophthalmic diseases
Alcon has the option to enter into a development and license agreement; terms of
the deal were not disclosed (1/13)
LifeSpan
BioSciences
Inc.*
Pfizer Inc.
Deal to develop an automated
pathology system for
evaluation of tissue specimens
in preclinical studies
The system developed by LifeSpan uses
enhanced image capture and artificial intelligence computer analysis software; terms
were not disclosed (3/3)
Deal under which Locus will
apply its molecular fragment
technology focused on protein
kinases
Locus will design for Scios new chemical
classes of protein kinase inhibitors under
undisclosed terms (3/14)
Locus
Scios Inc.
Pharmaceuticals (unit of Johnson
Inc.*
& Johnson)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
MAT Biotech*
(France)
Laboratoires
Servier (France)
Collaboration to develop
antibody products for
various cancers
MAT’s anti-ferritine monoclonal antibody
AMB8LK will be coupled to a cytotoxic
molecule from Servier; terms were not
disclosed (1/20)
Medicago
Inc.* (Canada)
Bayer
CropScience AG
(Germany)
Deal to assess the feasibility
of using Medicago technology
for producing an undisclosed
human therapeutic protein
The deal involves the Proficia Protein Technology, which entails use of alfalfa plants;
terms of the deal were not disclosed (1/31)
MedImmune
Inc. (MEDI)
Abbott
Laboratories
Abbott will market Numax,
MedImmune’s anti-RSV
monoclonal antibody in Phase
III trials, outside the U.S.
Abbott also will continue to market Synagis
under the amended deal; MedImmune has
the option to co-promote Numax in up to
seven countries outside the U.S.; it retained
rights in the U.S. (2/28)
Millennium
UCB Pharma
Pharmaceuticals (Belgium)
Inc. (MLNM)
Deal to develop and sell
antibodies generated from
two Millennium targets: a costimulatory molecule and a
chemokine receptor
UCB will be responsible for development
and costs through Phase II trials; Millennium is entitled to milestone payments, and
retains the option to co-develop and cocommercialize products under a cost- and
profit-sharing arrangement (1/25)
Morphochem
AG* (Germany)
Alcon Research
Ltd.
Collaboration to develop
small-molecule drugs against
ophthalmic targets
Morphochem will apply its MolMind technology to make libraries for certain Alcon
targets in return for research payments and
potential milestones and royalties; Alcon
gets rights to any resulting products for
ophthalmic and nasal applications (1/10)
MorphoSys
AG (Germany;
FSE:MOR)
Boehringer
Ingelheim
GmbH (Germany)
An expanded collaboration
gives BI an option to several
exclusive licenses on new
therapeutic antibody
programs
They already are developing two antibody
programs; BI also got access to MorphoSys’
HuCAL Gold library; MorphoSys gets a technology access fee, annual license fees and
optional R&D funding over five years, as
well as potential milestones and royalties
(3/17)
NascaCell IP
GmbH*
(Germany)
Boehringer
Ingelheim GmbH
(Germany)
Collaboration on aptamerbased target validation and
drug discovery
NascaCell will provide BI custom aptamers
for therapeutic targets; terms were not
disclosed (2/16)
Nektar
Therapeutics
(NKTR)
Bayer
HealthCare AG
(Germany)
Collaboration to develop an
inhalable powder formulation
of a novel form of ciprofloxacin
for chronic lung infections
Nektar, which will develop the powder and
inhalation system, will receive funding for
preclinical development, as well as potential milestone and royalty payments (1/25)
198
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
NeoPharm
Inc. (NEOL)
Nippon Kayaku
Co. Ltd. (Japan)
Nippon Kayaku got exclusive
Japanese rights to IL13PE38QQR, a drug in trials for
glioblastoma multiforme
NeoPharm gets $2M up front and can earn
$6M tied to approval in Japan; it also would
be entitled to royalty and milestone payments based on sales (1/4)
Neose
Technologies
Inc. (NTEC)
BioGeneriX AG
(Germany; part of
the Ratiopharm
Group)
Three-month option deal
to evaluate application of
Neose’s GlycoPEGylation
technology to a marketed
therapeutic protein
Neose will get initial payments; if a license
deal is signed, Neose would get additional
up-front and research payments and could
get up to $61.5M in milestone payments, as
well as royalties on product sales (1/28)
New River
Shire
Pharmaceuticals Pharmaceutical
Inc. (NRPH)
Group plc (UK)
Collaboration covering
New River’s Phase III ADHD
compound, NRP104; other
indications also are covered
New River gets $50 up front and would get
$50M upon acceptance of an NDA filing, up
to $300M in milestones related to FDAapproved product labeling and $100M if
sales targets are hit; New River has a 25%
co-promotion right in the U.S. (1/31)
Novavax Inc.
(NVAX)
Ranbaxy
Laboratories
Inc. (India)
Deal to evaluate a transdermal
product formulated using
Novavax’s micellar
nanoparticle technology
Novavax will get funding to complete a
proof-of-concept study, which could be followed by a commercialization and development agreement (3/16)
Osel Inc.*
Miyarisan
Pharmaceutical
Co. Ltd. (Japan)
Osel gained exclusive rights
in North America and Europe
to MIYA-BM
The oral product is approved in Japan for
treating antibiotic-induced gastrointestinal
disorders; terms of the deal were not disclosed (3/2)
Oxford
BioMedica plc
(UK; LSE:OXB)
Undisclosed
company
The company gained use of
Oxford’s LentiVector genedelivery system for research
activities
Oxford gets an up-front license payment
and an annual maintenance fee; terms were
not disclosed (2/1)
Oxford Genome
Sciences Ltd.*
(UK)
Bayer HealthCare
AG (Germany)
Oxford will evaluate candidate
biomarkers that may have
applications in breast cancer
Oxford gets funding for the program under
which it will apply proteomics technologies, and potential milestone payments
(3/16)
Pepscan Systems Solvay
BV* and
Pharmaceuticals
ServiceXS* (both (Belgium)
of the Netherlands)
The companies will identify
novel peptide substrates for
a series of Solvay proteases
Terms of the research agreement for the
de-orphanization of proteases were not
disclosed (3/8)
Perlegen
Sciences Inc.*
Perlegen will conduct a
high-density whole-genome
association study for an
undisclosed trait of interest
Perlegen will genotype SNPs for the trait of
interest and compare them to controls;
terms of the deal were not disclosed (1/24)
AstraZeneca
plc (UK)
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199
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Perlegen
Sciences Inc.*
Johnson & Johnson
Pharmaceutical
Research and
Development LLC
Pharmacogenomics deal to
identify genetic markers for
patient response to a J&J
compound
Perlegen will genotype single nucleotide
polymorphisms and analyze results in the
deal, terms of which were not disclosed
(1/1 1)
PharmaDesign
Inc.* (Japan)
Merck & Co. Inc.
Merck licensed a GPCR peptide
ligand library designed by PDI
Merck made the deal with PDI representative Summit Pharmaceutical International
Corp.; terms were not disclosed (2/2)
Power3 Medical
Products Inc.
(OTC BB:PWRM)
New Horizons
Diagnostics
Corp.
Collaboration to develop
antibody-based diagnostics
for neurodegenerative diseases
The work will involve protein biomarkers
from Power3; terms of the deal were not
disclosed (3/28)
Procyon
Biopharma Inc.
(Canada; TSE:PBP)
Medicorp Inc.
(Canada)
Medicorp got exclusive
rights to develop and sell
PSP94-based test kits
Medicorp will fund future development;
they will share revenues from sales of test
kits and from sublicensing deals (3/2)
Quark Biotech
Inc.*
Sanwa Kagaku
Kenkyusho Co.
Ltd. (Japan)
Sanwa gained rights in Asia
to Quark’s Phase II compound
BT16 for treating dyslipidemia
Quark gets an up-front payment along with
potential milestone and royalty payments
(2/8)
Rigel
Pfizer Inc.
Pharmaceuticals
Inc. (RIGL)
Deal to develop products for
allergic asthma and other
respiratory diseases based on
Rigel’s preclinical compounds
that inhibit IgE receptor
signaling in mast cells
Rigel gets an up-front payment along with
potential milestone and royalty payments;
Pfizer will make an equity investment in
Rigel and be responsible for worldwide
development and commercialization (1/20)
Sangamo
BioSciences
Inc. (SGMO)
Pfizer will assess Sangamo’s
zinc finger DNA-binding protein
technology for use in
mammalian cell-based protein
pharmaceutical production
Pfizer will fund research at Sangamo, which
will generate cell lines and vector systems;
terms were not disclosed (1/5)
Savient
Ferring Holding
Pharmaceuticals SA (Switzerland)
Inc. (SVNT)
They entered a co-promotion
deal on Nuflexxa as part of
Savient’s divestiture of its
global biologics
manufacturing business
to Ferring
Savient will establish a sales force for the
co-promotion effort and get 50% of the
global revenue from the approved sodium
hyaluronate product above certain revenue
thresholds; Ferring is paying $80M in cash
over two years for the manufacturing business (3/23)
Sention Inc.*
Deal to develop a family of
Merck compounds known as
mGluR5 antagonists for
treating mental retardation
Sention gets access to preclinical candidates, which it will develop; it also can
develop the drugs for Down syndrome and
has an option in Huntington’s disease (1/19)
200
Pfizer Inc.
Merck & Co. Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Serenex
Inc.*
GlaxoSmithKline
plc (UK)
Serenex will use its Proteome
Mining technology to provide
information on compounds in
development at GSK
GSK scientists worldwide can submit compounds to Serenex for profiling against
specific tissues and cell lines; terms of the
deal were not disclosed (1/1 1)
Serono SA
(Switzerland;
NYSE:SRA)
Rosetta
Biosoftware
(unit of Merck &
Co. Inc.)
Serono licensed use of the
Rosetta Resolver system
Serono gets rights to the gene-expression
data analysis system under undisclosed
terms (2/28)
SurroMed
Inc.*
PPD Inc.
PPD is acquiring about all
of the assets related to
SurroMed’s biomarker
business
PPD will surrender for cancellation its
shares of SurroMed preferred stock, will
assume $3.4M of liabilities under capital
leases and certain other liabilities related to
the biomarker business and will guarantee
repayment of a portion of a SurroMed bank
loan up to $1.5M (1/17)
TaiGen
Procter & Gamble
Biotechnology
Pharmaceuticals
Co. Ltd.* (Taiwan)
Deal to further develop and
sell P&G’s non-flourinated
quinolone antibiotic
TaiGen will develop the product through
Phase II, after which they may seek a partner; TaiGen gets rights in China, Taiwan,
Korea and certain other countries (1/5)
Tepnel Life
Sciences plc
(UK; AIM:TED)
Boehringer
Ingelheim GmbH
(Germany)
BI will evlauate murine
monoclonal antibodies
generated by Tepnel subsidiary Diaclone Research
Tepnel retains research and diagnostic
rights to antibodies not developed as therapeutics by BI; terms were not disclosed
(2/2)
Theravance
Inc. (THRX)
GlaxoSmithKline
plc (UK)
GSK exercised its option to
license Theravance’s inhaled
bifunctional, muscarinic antagonist/beta2 agonist program
Theravance could get up to $252M in upfront and milestone payments, if the program has both single-agent and combination products; it is the third respiratory program GSK licensed from Theravance (3/21)
TorreyPines
Therapeutics
Inc.*
Eisai Co. Ltd.
(Japan)
They entered a research
agreement involving drug
discovery for Alzheimer’s
disease
Eisai has exclusive rights of first negotiation for validated compounds discovered
through the research; development deals
could follow (3/18)
Transport
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc.*
Collaboration covering
Transport’s iontophoretic
device/drug system for the
delivery of the cold-sore
drug acyclovir
Transport gets an up-front license fee along
with potential milestone and royalty payments and some funding for upcoming
Phase III trials; GSK gets exclusive rights in
Europe, Australia, Latin America and South
Africa (1/27)
ViroLogic
Inc. (VLGC)
ViroLogic will use its HIV
resistance testing technology
to support GSK programs
GSK will use ViroLogic’s assays across its
virology portfolio under the three-year,
$7.5M deal (2/3)
GlaxoSmithKline
plc (UK)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
201
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
VirtualScopics
LLC*
Wyeth
Pharmaceuticals
VirtualScopics will provide
analytical and other imaging
services to Wyeth
The services will be used in a Phase I trial
of a product being studied for muscle wasting conditions; terms were not disclosed
(3/14)
Xcellsyz Ltd.*
(UK)
Cambrex
Bio Science
Walkersville Inc.
Cambrex purchased
conditionally immortalized
cell lines from Xcellsyz
Terms of the deal were not disclosed
(1/18)
Xencor Inc.*
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Deal under which Roche will
use Xencor’s XmAb technology
on a Roche antibody against a
cancer target
Xencor will receive technology access and
license fees and is eligible to receive additional license fees along with milestone and
royalty payments (1/12)
Xencor Inc.*
Chugai
Pharmaceuticals
Co. Ltd. (Japan)
Deal under which Chugai will
use Xencor’s XmAb technology
on one of its antibodies
against a cancer target
Xencor will receive technology access and
license fees, and is eligible to receive additional license fees along with milestone
and royalty payments (1/10)
YM
BioSciences Inc.
(Canada; TSE:YM)
Shin Poong
Pharmaceutical
Co. (South Korea)
Collaboration to expand development of YM’s tesmilifene
into gastric cancer
Shin Poong will fund development and provide undisclosed up-front and potential
milestone and royalty payments, and will
launch a bridging study in breast cancer in
Asia (1/31)
Three-year expansion of
an alliance to develop gap
junction-modifying drugs
for cardiovascular diseases
The alliance followed a 2003 license deal
for the co-development of ZP123, a drug
being developed for arrhythmias; they now
will work on other compounds, and Wyeth
got rights to evaluate Zealand’s compound
library; terms were not disclosed (3/4)
Zealand
Wyeth
Pharmaceuticals Pharmaceuticals
A/S* (Denmark)
SECOND QUARTER
AbGenomics
Corp.* (Taiwan)
Boehringer
Ingelheim
International
GmbH (Germany)
BI got worldwide rights to
AbGenomics’ antibody 168,
which is targeted to a range
of immune-related diseases
AbGenomics kept an option to co-promote
resulting products in certain Asian countries; terms of the deal were not disclosed
(6/6)
Acologix Inc.*
Toray
Industries Inc.
(Japan)
Acologix got rights to develop
and sell Toray’s TRK-820 in
North America, and co-development rights in Europe
TRK-820 is a selective kappa opioid receptor agonist that has completed Phase II
trials in uremic pruritus; terms of the deal
were not disclosed (6/16)
Affymetrix
Inc. (AFFX)
bioMerieux
SA (France)
bioMerieux gained long-term
and comprehensive access to
Affymetrix’s GeneChip
technology
bioMerieux will use the technology for in
vitro diagnostic tests for breast cancer; it
also got an option to expand the deal into
other cancer areas; terms were not disclosed (4/5)
202
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Alimentary
Health Ltd.*
(Ireland)
Mead Johnson
Nutritionals (unit
of Bristol-Myers
Squibb Co.)
Research and cross-licensing
deal covering nutritional
applications of novel
ingredient technologies for
infants and children
Each will contribute intellectual property to
the research, and they will jointly fund
development programs (4/28)
Alliance
Pharmaceutical
Corp. (OTC BB:
ALLP)
Beijing
Double-Crane
Pharmaceutical
Co. Ltd. (China)
They finalized a deal covering
the development and sales
of Alliance’s Oxygent in China
Alliance will get up-front fees and is eligible
for milestone and royalty payments (5/16)
Anadys
Novartis Pharma
Pharmaceuticals AG (Switzerland)
Inc. (ANDS)
Exclusive deal to develop
ANA975 and additional Tolllike receptor 7 oral prodrugs
for hepatitis B and C and
possibly other infectious
diseases
Anadys gets an initial license payment of
$20M and up to $550 million in regulatory
and commercial milestone payments;
Anadys also has an option to retain 35% of
profits in the U.S. by contributing 35% of
costs; otherwise it would get royalties on
any resulting sales (6/2)
Ark
Therapeutics
Group plc* (UK;
LSE:AKT)
Boehringer
Ingelheim
International
GmbH (Germany)
BI got rights to use Ark
renin-angiotensin system
technologies in its products
Ark gets an up-front payment and could
receive milestone payments and royalties
on sales of cardiovascular products
covered by its patents (4/1)
Arrow
Therapeutics
Ltd.* (UK)
Novartis Pharma
AG (Switzerland)
Collaboration to develop
and market Arrow’s smallmolecule inhibitor A60444 for
respiratory syncytial virus
Arrow gets a $10M up-front payment and
up to $217M in milestone payments, as well
as royalties on resulting sales; Novartis also
gets rights to back-up compounds and the
right of first negotiation on other compounds (6/29)
Aureus
Pharma*
(France)
Sanofi-Aventis
Group (France)
Sanofi became the first customer for Aureus’ AurSCOPEIon Channel database
The deal extends an existing collaboration
covering other databases; terms were not
disclosed (6/9)
Avanir
Novartis AG
Pharmaceuticals (Switzerland)
Inc. (AMEX:AVN)
Worldwide deal to develop
small-molecule drugs targeting
macrophage migration
inhibitory factor for treating
inflammatory diseases
Avanir is eligible to receive more than
$200M in up-front and development, regulatory and sales milestone payments, and
gets up to $2.5M per year for four years in
research payments; it also would get royalties on sales (4/28)
BioMarin
Pharmaceutical
Inc. (BMRN)
BioMarin licensed tetrahydrobiopterin (6R-BH4) to treat the
endothelial dysfunction that
causes vascular complications
in various diseases
BioMarin previously licensed rights to the
drug for use in genetic diseases, including
phenylketonuria; Daiichi gets an up-front
payment, development milestones for up to
two indications, and royalties on any sales
(5/5)
Daiichi Suntory
Pharma Co. Ltd.
(Japan)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
203
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
BioXell SpA*
(Italy)
Merck & Co. Inc.
Merck got exclusive rights
to develop TREM-related
therapeutic and diagnostic
products; TREM is Triggering
Receptors Expressed on
Myeloid Cells
BioXell gets an up-front payment and up to
$150M in milestone payments, including
$55.5M for successful development of the
first product for the first indication; it also
would get royalties on any sales (5/23)
Cangen
Biotechnologies
Inc.*
Olympus Corp.
(Japan)
Deal to develop a hybrid DNAbased and protein-based
diagnostic test for lung cancer
Cangen gets access to Olympus’ microarray
technology in the deal, terms of which were
not disclosed (5/25)
Caprion
Wyeth
Pharmaceuticals
Inc.* (Canada)
They expanded an existing
deal to include two clinical
programs under way at Wyeth
The focus is on discovery and development
of protein biomarkers from Phase II trials in
asthma and renal-cell carcinoma; terms of
the deal were not disclosed (6/28)
Cellzome Inc.*
Ortho-McNeil
Pharmaceutical Inc.
(unit of Johnson
& Johnson)
Ortho exercised its option to
develop Cellzome’s Gamma
Secretase Modulator program
The license stems from a March 2005 deal
in Alzheimer’s disease; Cellzome gets an
additional technology access fee and continued research funding, as well as potential milestone and royalty payments (5/23)
Cerus Corp.
(CERS) and
Baxter
International Inc.
BioOne Corp.
(Japan)
Definitive agreement calls for
BioOne to commercialize the
Intercept Blood System for
plasma in much of Asia
Cerus already received $3M when a letter
of intent was signed in January; potential
up-front and milestone payments total
$33M in cash and BioOne equity; Cerus
also would get royalties on sales in the
covered countries (6/6)
ChemGenex
Stragen Pharma
Pharmaceuticals SA (Switzerland)
Ltd. (Australia;
CXSP)
Collaboration to accelerate
the clinical development of
ChemGenex’s Phase II
cancer drug Ceflatonin
Stragen brings manufacturing and marketing expertise to the deal and would get
51% of profits in Europe; ChemGenex has
product responsibility in North America
and the Asia-Pacific region (6/27)
Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)
Pfizer Inc.
Pfizer got rights to use the
ACE System to develop cell
lines for research, development
and manufacturing purposes
The deal represents an expansion of a
December 2004 deal under which Chromos
is using the system to engineer cell lines to
express a Pfizer protein; terms were not
disclosed (5/30)
Ciphergen
Biosystems
Inc. (CIPH)
Bayer
Pharmaceuticals
Corp.
Collaboration to identify
biomarkers and develop an
assay that may be used in a
clinical trial in cancer
Ciphergen will analyze patient samples
from Phase II trials as part of the deal; it is
entitled to up-front and milestone payments
from Bayer (6/27)
Codexis Inc.*
Matrix
Laboratories
(India)
Codexis will apply its reengineering technology to
develop a process for an active
pharmaceutical ingredient
Codexis gets R&D funding along with
potential milestone payments and royalties
on any sales; Matrix gets exclusive rights to
the process (6/15)
204
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Codexis Inc.*
Bristol-Myers
Squibb Co.
Deal to improve biocatalyst
productivity for an undisclosed
product candidate from BMS
Codexis gets research funding and a potential milestone payment; BMS may opt at
that point to fund further research, which
involves Codexis’ re-engineering platform
(5/24)
Collegium
Pharmaceutical
Inc.*
URL/Mutual
Pharmaceutical
Co.
Deal to develop and sell
an undisclosed product
Collegium will do early work on the compound, then transfer responsibilities to
URL; Collegium is entitled to milestone and
royalty payments (4/20)
ComGenex
Inc. (Hungary)
Fournier Pharma
(France)
Collaboration under which
ComGenex will provide
exclusive chemistry services
to Fournier for three years
Fournier extended an initial 16-month project into the multiyear collaboration, terms
of which were not disclosed (5/17)
Compugen
Ltd. (Israel;
CGEN)
Ortho-Clinical
Diagnostics Inc.
(unit of Johnson
& Johnson)
Deal to develop diagnostic
products based on biomarkers
discovered by Compugen;
Ortho initially can develop
up to nine biomarkers
Ortho gets worldwide rights to resulting
products; Compugen is entitled to license
fees and milestone payments for each biomarker, as well as royalties on any sales
(6/8)
Compugen Ltd.
(Israel; CGEN)
Novartis AG
(Switzerland)
Compugen will develop a
platform for research and
analysis of biological data on
biological interaction networks
Novartis will make a one-time payment for
the information and get sole rights to the
project results; Compugen retains rights to
the research and discovery systems developed through the collaboration (4/19)
Conforma
Therapeutics
Corp.*
Sumitomo
Pharmaceutical
Co. Ltd. (Japan)
Conforma got exclusive rights
in North America and Europe
to the cancer drug Amrubicin
The synthetic anthracycline agent is marketed in Japan as Calsed; terms of the deal
were not disclosed (6/29)
Cornerstone
BioPharma Inc.*
Lupin Ltd.
(India)
Collaboration to develop a
drug delivery system for an
anti-infective product
Lupin gets up to $10.5M in milestone and
other payments and royalties on any sales;
Cornerstone has marketing rights in the
U.S. (5/9)
Correlogic
Systems Inc.*
Quest
Diagnostics Inc.
Correlogic received an equity investment;
further terms were not disclosed (6/9)
Cougar
Biotechnology
Inc.*
LEO Pharma
A/S (Denmark)
Quest got an option to
commercialize certain
diagnostic tests
Cougar got exclusive rights
to seocalcitol (EB1089), a
synthetic analogue of vitamin
D with applications in cancer
Crucell NV
(the Netherlands;
CRXL)
Ferring
Pharmaceuticals
A/S (Denmark)
Ferring got rights to use
the PER.C6 cell line in the field
of women’s health care
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
LEO gets an up-front payment and is entitled to milestone and royalty payments
(6/28)
The deal includes Crucell’s allied contract
manufacturer DSM Biologics; terms were
not disclosed (5/25)
205
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Cyntellect
Inc.*
Sigma-Aldrich
Corp.
Sigma-Aldrich got exclusive,
worldwide rights to
commercialize Cyntellect’s
Cell Xpress service
Cyntellect got a multimillion-dollar equity
investment, and will get royalties on sales;
Sigma-Aldrich also will pay for internal use
of Cyntellect’s LEAP technology (4/27)
Cypress
Bioscience
Inc. (CYPB)
NV Organon
(the Netherlands)
Deal to combine expertise to
develop a treatment for
obstructive sleep apnea
involving mirtazapine-based
drugs and regimens
They initially will share costs; Cypress
would have co-commercialization rights in
North America, and get royalties on sales
elsewhere (6/29)
Cytogen Corp.
(CYTO)
The Dow
Chemical Co.
Cytogen and Dowpharma
are collaborating to create a
targeted product for treating
prostate and other cancers
Dow technology will be used to radiolabel
Cytogen’s PSMA antibody (7E1 1); the deal
extends an existing agreement; terms
were not disclosed (5/10)
Depomed Inc.
(DEPO)
Boehringer
Ingelheim
Pharmaceuticals
Inc. (Germany)
Depomed will develop a
controlled-release formulation
of an undisclosed compound
for BI
Depomed will apply its Gastric Retention
technology to the BI compound; a license
agreement could follow (4/28)
Diatos SA*
(France)
Servier
(France)
Deal to apply Diatos’ Vectocell
technology to a small-molecule
cancer candidate from Servier
Servier will fund work at Diatos and gets an
option to license resulting technology
(5/17)
Diversa Corp.
(DVSA)
Merck & Co. Inc.
They expanded a deal
signed in January focused on
Diversa’s MedEv antibody
evolution platform
Diversa gets an additional up-front payment and research funding and is entitled
to milestone and royalty payments upon
successful development of antibodies
(6/20)
Elixir
Bristol-Myers
Pharmaceuticals Squibb Co.
Inc.*
Elixir got exclusive rights to
BMS’s growth hormone
secretagogue BMS-604992
and five related compounds
BMS gets an up-front license fee comprised
of cash and stock and is entitled to milestone and royalty payments; the program is
at the preclinical stage (4/28)
EraGen
Biosciences
Inc.*
Bayer
HealthCare LLC
Bayer Diagnostics got
exclusive rights to Eragen’s
MultiCode-PLx System
for use in cystic fibrosis
Bayer also got rights to a create assays for
other disease states; MultiCode-PLx is a
high-throughput genotyping system; terms
of the deal were not disclosed (5/18)
Exelixis Inc.
(EXEL)
Helsinn
Healthcare SA
(Switzerland)
Helsinn gained rights to
develop the Phase III cancer
drug XL1 19 (becatecarin)
Exelixis gets $4M up front and up to $21M
in milestone payments; Helsinn will pay
Phase III costs; Exelixis is entitled to royalties and milestones on sales and retained
an option to reacquire rights in the U.S.
(6/10)
206
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
ExonHit
Therapeutics
SA* (France)
Pharma Co.
(Country)
Allergan Inc.
Type/Product Area
Term/Details (Date)
They extended deal from
2003 to develop drugs for
neurodegenerative diseases,
pain and ophthalmology
ExonHit got a $2M payment and continues
to receive R&D support; it also is entitled to
milestone and royalty payments and has
certain co-development and co-commercialization options (5/17)
Fabre-Kramer
NV Organon
Pharmaceuticals (the Netherlands)
Inc.*
Fabre-Kramer reacquired all
rights to the depression drug
Gepirone ER, which failed to
gain FDA approval in 2004
Organon would receive a milestone payment upon FDA approval and royalties on
any sales; Phase III trials are ongoing (6/15)
454 Life
Sciences
(majority-owned
by CuraGen
Corp.; CRGN)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Exclusive five-year deal for
sales and distribution of
454’s nanotechnology-based
genome-sequencing systems
454 will get up to $62M in license fees,
milestones related to instrument releases,
minimum royalties and research funding; it
also would get royalties on sales (5/12)
4SC AG*
(Germany)
Schwarz Pharma
AG (Germany)
Collaboration to develop
hits against targets that they
identified in a pilot project
4SC will use its technologies to develop
pharmaceutical leads; 4SC gets research
funding and is entitled to milestone payments and revenue sharing (4/5)
Fulcrum
Pharma plc
(UK; AIM:FUL)
Syngenta
Biopharma
(Switzerland)
Fulcrum will provide
development services for
Syngenta
The focus is on advancing Syngenta projects toward clinical development; terms of
the deal were not disclosed (5/18)
Genedata AG*
(Switzerland)
Novartis Institute
Collaboration to advance
for Tropical
research in infectious and
Diseases (Singapore) parasitic diseases
Genedata’s Phylosopher technology will
serve as a management system for data
integration; terms were not disclosed (6/29)
GeneGo Inc.*
Procter & Gamble
Pharmaceuticals
Inc.
P&G licensed MetaCore and
MetaBase technologies from
GeneGo
The products are used in life science
research; terms of the deal were not disclosed (5/9)
GeneGo Inc.*
NV Organon
(the Netherlands)
Organon licensed GeneGo’s
MetaCore platform for mining
high-throughput experimental
data
Organon will use MetaCore in preclinical
research across various therapeutic areas
(4/19)
Generex
Biotechnology
Corp. (Canada;
GNBT)
Stallergenes
SA (France)
Deal to design and test
Ii-Key/allergen epitope
hybrid peptides for treating
asthma and allergic reactions
Generex subsidiary Antigen Express Inc.
will work with Stallergenes on the project;
terms of the deal were not disclosed (6/22)
Haptogen
Ltd.* (UK)
DaeWoong
Pharmaceutical Co.
Ltd. (South Korea)
Collaboration to progress the
clinical development of
antibody therapeutics targeted
to bacterial infections
They will combine Haptogen’s discovery
approach with the formulation, manufacturing and marketing expertise of DaeWoong; terms were not disclosed (5/17)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
207
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Human
Metabolome
Technologies
Inc.* (Japan)
Agilent
Technologies
Inc.
Collaboration to develop a
set of metabolome analysis
tools for use in drug discovery
They plan to integrate HMT’s biochemical
assays with Agilent’s capillary electrophoresis and mass spectrometry technology
to profile and identify metabolic markers
(6/20)
Hybridon
Inc. (AMEX:HBY)
Novartis Pharma
AG (Switzerland)
Collaboration to discover and
develop Toll-like receptor 9
drugs targeting asthma
and allergy
First they will evaluate immune modulatory
oligonucleotide candidates; Hybridon then
could earn up-front license fees along with
milestone payments that could total $136M,
as well as royalties on sales (6/1)
Inovio
Biomedical
Corp. (AMEX:INO)
Merck & Co. Inc.
Merck exercised an option for
a nonexclusive license to an
additional antigen to be used
with Inovio’s MedPulser DNA
Delivery System
Inovio gets an option fee and remains eligible for milestone and royalty payments;
Merck now has licensed three antigens
under their 2004 license agreement (5/12)
Inpharmatica
Ltd.* (UK)
Daiichi
Pharmaceutical
Co. Ltd. (Japan)
Daiichi licensed
Inpharmatica’s Admensa
Interactive technology
The technology is a suite of predictive
ADME models and compound-prioritization
tools; terms were not disclosed (6/6)
Intra-Cellular
Therapies
Inc.*
Bristol-Myers
Squibb Co.
ITI got worldwide rights
to a family of preclinical
compounds targeting central
nervous system diseases
BMS receives an undisclosed license fee up
front and potential milestone and royalty
payments (6/1)
Isis
Pfizer Inc.
Pharmacueticals
Inc. (ISIS)
Deal to identify secondgeneration antisense drugs
for treating ophthalmic disease
Isis gets a $1M technology access fee and
research funding and is eligible to receive
milestone and royalty payments (5/24)
Kiadis BV*
(the Netherlands)
NV Organon (the
Netherlands; unit
of Akzo Nobel)
Deal to evaluate Kiadis’
BioSelect screening technology
in Organon’s reproductive
medicine discovery program
Kiadis intends to deliver novel active compounds against the target provided by
Organon; terms of the deal were not disclosed (5/25)
KeyNeurotek
AG* (Germany)
Bayer
Healthcare
AG (Germany)
KeyNeurotek got exclusive
rights to the traumatic brain
injury compound BAY 38-7271
KeyNeurotek will continue development
and would market the product; terms of the
deal were not disclosed (6/29)
KineMed Inc.*
Sosei Co. Ltd.
(Japan)
KineMed will screen a
number of Sosei molecules to
determine their potential in
new indications
KineMed will use its in vivo KineMarker
assays in the deal, terms of which were not
disclosed (4/13)
Large Scale
Biology Corp.
(LSBC)
Bayer
CropScience
(unit of Bayer AG)
Collaboration to investigate
the plant-based expression
of LSBC’s lysosomal acid lipase
The goal is to develop a therapeutic product; terms of the deal were not disclosed
(4/29)
208
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Lexicon
Genetics Inc.
(LEXG)
NV Organon (the
Netherlands; unit
of Akzo Nobel)
Collaboration under which
Lexicon will create and analyze
mouse knockouts of 300
genes to identify drug targets
They will share R&D costs and any revenue;
Lexicon gets $22.5M up front and research
funding of up to $50M a year during the
four-year target-function discovery portion
of the alliance (5/17)
Lorus
Therapeutics
Inc. (Canada;
AMEX:LRP)
Sumitomo
Pharmaceuticals
Co. Ltd. and Koken
Co. Ltd. (both Japan)
Deal to develop Lorus’
antisense cancer drug
GTI-2601 with the partners’
collagen-based delivery system
The companies will jointly own resulting
compounds; terms of the deal were not
disclosed (4/5)
Macrocyclics
Inc.*
MDS Nordion
(Canada)
Deal to develop bifunctional
chelates for use in molecular
imaging and targeted
therapeutics
Terms of the three-year deal were not
disclosed (5/26)
Medarex Inc.
(MEDX)
Boehringer
Ingelheim
GmbH (Germany)
BI will use Medarex’s UltiMAb
technology to generate
antibodies to disease targets
Medarex gets technology access fees and
could receive additional license fees and
milestone payments, as well as royalties on
resulting sales (6/14)
Medarex Inc.
(MEDX)
Ono
Pharmaceutical
Co. Ltd. (Japan)
Collaboration to research
and develop a fully human
anti-PD-1 antibody for treating
cancer
They will share costs through Phase II trials;
then each would be responsible for its own
territory; Medarex has rights in North
America, Ono everywhere else (5/12)
MerLion
Sankyo Co.
Pharmaceuticals Ltd. (Japan)
Pte. Ltd.*
(Singapore)
Three-year collaboration
under which MerLion will
isolate new drug leads for
Sankyo
Sankyo would develop and commercialize
resulting products; terms of the deal were
not disclosed (4/20)
Metabasis
Therapeutics
Inc. (MBRX)
Merck & Co. Inc.
Deal to develop and market
small-molecule drugs to treat
various diseases by activation
of AMP-activated protein
kinase
Metabasis gets $5M up front and research
funding; it also is entitled to milestone and
royalty payments, along with a co-promotion
option in the U.S.; total payments, excluding
royalties, for the first product in the first
indication could be $54M (6/27)
Metabolex
Inc.*
Astellas Pharma
Inc. (Japan)
They extended for one year
a 2002 deal to validate drug
targets for the treatment of
Type II diabetes and obesity
Metabolex gets research funding and milestone payments under the extension; it
would receive royalties on any sales and
retained co-promotion rights in North and
South America (5/2)
Miikana
Therapeutics
Inc.*
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Miikana got worldwide rights
to Roche’s MKC-1, an anticancer
agent in Phase II trials
Roche gets an equity stake in Miikana, as
well as undisclosed up-front, milestone and
royalty payments (5/3)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
209
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Morphotek
Inc.*
GlaxoSmithKline
plc (UK)
Morphotek will apply its
Morphodrome technology
to GSK’s antibody producer
lines to develop cell lines with
improved characteristics
Morphotek gets R&D funding for an initial
project, which could lead to two more projects; Morphotek also could receive annual
fees and is eligible for milestone payments
(5/18)
Myogen Inc.
(MYOG)
Novartis AG
(Switzerland)
They expanded a deal from
2003 to include Myogen’s
histone deacetylase inhibitor
program
The expansion extends research funding
for at least three years and includes undisclosed signing fees, as well as milestone
and royalty provisions; Myogen also has
certain co-promotion and profit-sharing
options (5/26)
Napo
AsiaPharm
Pharmaceuticals Group Ltd.
Inc.*
(Singapore)
AsiaPharm got exclusive rights
in China to develop and sell
products derived from
crofelemer for treating diarrhea
Napo receives an equity investment and
also would get royalty payments from sales
of any products in China (6/15)
Neose
Technologies
Inc. (NTEC)
BioGeneriX AG
(Germany; part of
the Ratiopharm
Group)
License and option deal to
use Neose’s GlycoPEGylation
technology to develop a
long-acting form of a
marketed therapeutic protein
The deal follows a previous supply and
option agreement; Neose will get further
up-front and research payments and could
get up to $61.5M in milestone payments, as
well as royalties on any sales (4/28)
Neurologix
Inc. (OTC BB:
NRGX)
Medtronic Inc.
Deal to develop and market
micro-infusion catheters to
deliver gene therapy into the
brain and central nervous
system
Neurologix got a $2M equity investment in
the deal; Medtronic is entitled to milestone
payments, and they would share revenues
from any resulting device (5/2)
Nuevolution
A/S* (Denmark)
Schering AG
(Germany)
Nuevolution will use its
Chemetics technology to
find new leads against targets
provided by Schering
Nuevolution will generate and screen
libraries to identify the most potent and
drug-like ligands; terms of the deal were
not disclosed (6/21)
Nuevolution
A/S* (Denmark)
Novo Nordisk
A/S (Denmark)
Collaboration to discover
drug leads for targets
provided by Novo
Nuevolution will use its Chemetics technology in the effort; terms of the deal were not
disclosed (4/12)
Nuvelo Inc.
(NUVO)
Kirin Brewery
Co. Ltd. (Japan)
Collaboration to advance the
preclinical growth factor
NU206, which was developed
under an existing alliance
Nuvelo will lead development; it gets a $2M
up-front payment and will pay 60% of the
costs and get 60% of the revenues from the
program (4/4)
Odyssey
Thera Inc.*
Pfizer Inc.
They expanded a deal to
profile compounds across
Odyssey’s panel of cell-based
assays
The project will focus on 500 compounds
from multiple therapeutic areas; terms of
the deal were not disclosed (5/17)
210
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Optimer
Par
Pharmaceuticals Pharmaceutical
Inc.*
Co. Inc.
Collaboration on a narrowspectrum antibiotic (now
named PAR-101) active
against Clostridium difficile;
it is in Phase II trials
Par acquired a 16% partnership interest in
Optimer; Optimer will fund development;
Par would pay royalties on sales and has an
option to develop three other Optimer
compounds (5/3)
OSI
Merck & Co. Inc.
Pharmaceuticals
Inc. (OSIP)
Merck got a nonexclusive
license to a patent covering
the use of dipeptidyl peptidase
IV inhibitors with other
antidiabetic agents
OSI is entitled to up-front, milestone and
royalty payments; the deal was made with
the OSI diabetes and obesity unit Prosidion
(6/30)
Oxford
BioMedica plc
(UK; LSE:OXB)
Pfizer Inc.
Pfizer got rights to use the
LentiVector gene delivery
system for research activities
Oxford BioMedica gets an up-front license
payment and annual maintenance fees; further terms were not disclosed (6/6)
Palatin
Technologies
Inc. (AMEX:PTN)
Mallinckrodt
Inc.
They extended marketing deal
covering Palatin’s infection
imaging agent, NeutroSpec
Mallinckrodt gained marketing rights in
Europe; its rights now are worldwide; terms
of the deal were not disclosed (6/15)
Paradigm
Therapeutics
Ltd.* (UK)
Ortho-McNeil
Pharmaceuticals
Inc. (unit of
Johnson & Johnson)
Ortho licensed rights to
Paradigm programs with
potential utility in pain
and urinary incontinence
Paradigm gets up-front research payments
and is eligible to receive milestone and
royalty payments (6/30)
Paradigm
Therapeutics
Ltd.* (UK)
Takeda
Pharmaceutical
Co. Ltd. (Japan)
Three-year deal under which
Paradigm will provide
exclusive access to targets
in certain central nervous
system areas
Paradigm gets up-front and exclusivity payments, and is entitled to milestones of up
to $18M per product, as well as royalties on
resulting sales (6/30)
Perlegen
Sciences Inc.*
Mitsubishi
Pharma Corp.
(Japan)
Perlegen got rights outside
of Asia to the PPAR agonist,
MCC-555, a product in the
clinic for treating diabetes
and other metabolic disorders
Mitsubishi gets an up-front payment and
could receive cash and equity milestone
payments; it also gets rights to use predictive genetic markers identified by Perlegen;
they each would pay royalties on sales
(4/12)
PharmaDesign
Inc.* (Japan)
Novartis AG
(Switzerland)
Novartis licensed a GPCR
peptide ligand library
designed by PDI
Terms of the deal were not disclosed (4/20)
Pharmasset
Inc.*
Bukwang Pharm.
Co. Ltd.
(South Korea)
Pharmasset got certain rights
to develop and sell Clevudine
(L-FMAU) for treating chronic
hepatitis B virus infections
Pharmasset’s rights are in the Americas,
Europe and Israel; Bukwang got an option
to market the Phase II HBV product Racivir
in Korea; terms were not disclosed (6/27)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
211
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pieris
Proteolab AG*
(Germany)
Pharma Co.
(Country)
Term/Details (Date)
Collaboration to develop an
anticalin-based drug from
Pieris for an undisclosed
indication
Pieris is responsible for research and for
providing the active drug; Syngenta is
responsible for development and commercialization; terms were not disclosed (4/13)
Portola
Astellas Pharma
Pharmaceuticals Inc. (Japan)
Inc.*
Collaboration to advance the
development of a series of
Astellas preclinical compounds
Portola scientists have identified the antithrombotic properties of the compounds;
terms of the deal were not disclosed (6/6)
Prosidion Ltd.
(UK; unit of OSI
Pharmaceuticals
Inc.; OSIP)
Undisclosed
company
The unnamed firm got nonexclusive rights to use DPIV
inhibitors for Type II diabetes
and related conditions
The agreement covering dipeptidyl peptidase IV inhibitors includes undisclosed upfront, milestone and royalty payments to
Prosidion (5/12)
Proteologics
Ltd.* (Israel)
Teva
Pharmaceuticals
Industries Ltd.
(Israel)
Deal to study the feasibility
of using drugs targeting
ubiquitin ligases for cancer
therapy
Teva made an equity investment as part of
the deal and has an option to license the
program; if so, Proteologics would be entitled to milestone and royalty payments
(5/3)
Protez
Sumitomo
Pharmaceuticals Pharmaceuticals
Inc.*
Co. Ltd. (Japan)
Deal to develop and commercialize SMP-601, Sumitomo’s
injectable antibiotic, in North
America and Europe
Protez will provide development and commercialization milestones, as well as royalties on any sales; its license is exclusive in
North America and Europe (5/17)
Regenera Ltd.
(Australia;
ASX:RGA)
Alcon
Manufacturing
Ltd.
Alcon licensed a product
used to assist in visualization
of vitreous fluid during a
vitrectomy
Regenera gets an up-front payment and
is entitled to milestone and royalty payments (double-digit in the U.S.) (4/7)
Renovis Inc.
(RNVS)
Pfizer Inc.
Worldwide deal to develop
small molecules that target
the vanilloid receptor, VR1,
for treating pain, urinary
incontinence and other
conditions
They will combine their current VR1 R&D
programs; Renovis gets a $10M license fee
and more than $7M in research funding
over two years; Renovis also can earn
$1 70M in milestone payments for each
resulting product, as well as royalties on
sales (5/31)
Response
Genetics Inc.*
Roche Diagnostics
(Switzerland) and
Eli Lilly and Co.
Deal to confirm biomarkers
for use to identify patients
most likely to respond to
certain cancer therapies
Roche and Lilly entered a collaboration
initially focused on Lilly’s Alimta and
Gemzar; they will work with Response
Genetics on biomarker tests (5/1 1)
Senetek plc
(OTC BB:SNTKY)
Signet
Laboratories
Inc.
They finalized a deal under
which Signet will manufacture
and market monoclonal
antibodies licensed to Senetek
Signet will get a share of the revenues;
the deal finalizes an amendment to an
April 2004 deal (4/7)
212
Syngenta AG
(Switzerland)
Type/Product Area
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
7TM Pharma
A/S* (Denmark)
Ortho-McNeil
Pharmaceutical Inc.
(unit of Johnson
& Johnson)
Collaboration to further
develop 7TM’s program on
oral compounds for treating
asthma and allergic diseases
7TM gets an up-front fee, research funding
and potential milestone payments, as well
as royalties on resulting products; J&J takes
over development responsibility (6/8)
7TM Pharma
A/S* (Denmark)
Procter & Gamble
Pharmaceuticals
Inc.
Collaboration to research
the use of therapeutic angiogenesis to identify candidates
for treating vascular diseases
P&G got exclusive rights to molecules
derived from the program in exchange for
an up-front fee, potential milestone payments and royalties on any sales; 7TM
retained co-promotion rights in Scandinavia (4/12)
Sinovac
Biotech Ltd.
(China; AMEX:SVA)
LG Life Sciences
Ltd. (South Korea)
They agreed to collaborate
on marketing efforts and
vaccine supply for China
and international markets
They will work on international marketing
of Sinovac’s Healive hepatitis A vaccine;
Sinovac will introduce LG’s HepB vaccines
into China, and they jointly will work on
Sinovac’s influenza vaccine (Anflu); terms
of the deal were not disclosed (5/18)
SkyePharma
plc (UK; SKYE)
Mundipharma
International
Holdings Ltd. (UK)
Deal under which Mundipharma will market and
distribute DepoBupivacaine
in Europe and elsewhere
excluding the U.S., Canada
and Japan
SkyePharma gets $10M up front and up to
$20M toward Phase III trials; it also is entitled to development and sales milestones
that could bring total payments to $80M;
SkyePharma would get 30% to 35% of sales,
out of which it would pay for manufacturing (4/19)
Sternberger
Monoclonals
Inc.*
Covance Inc.
Covance acquired the
complete line of antibodies
developed by Sternberger
The deal was made by subsidiary Covance
Research Products Inc.; terms of the deal
were not disclosed (6/27)
Sunesis
Bristol-Myers
Pharmaceuticals Squibb Co.
Inc.*
Sunesis licensed all rights to
the cancer drug BMS-387032
(now SNS-032), a cyclindependent kinase inhibitor,
and any related compounds
BMS gets an up-front equity stake of $8M in
Sunesis, and up to $29M in cash and equity
milestone payments for the first approval;
other milestones could total $49M million;
BMS also would get royalties on sales
(4/28)
Symbollon
Bioaccelerate
Pharmaceuticals Holdings Inc.
Inc. (OTC BB:
SYMBA)
Worldwide license and comarketing deal for IoGen, a
Symbollon product for
treating cyclic mastalgia
Bioaccelerate will fund ongoing Phase III
development, and would commercialize
the product; they would share any resulting
profits (4/13)
Tranksaryotic
Therapies Inc.
(TKTX)
Shire got rights to manufacture and distribute Dynepo
outside of North America
The license will take effect only if Shire’s
planned $1.6B acquisition of TKT does not
occur for specified reasons (4/21)
Shire
Pharmaceuticals
Group plc (UK)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
213
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Valentis Inc.
(VLTS)
Schering AG
(Germany)
Expanded deal gives
Schering nonexclusive rights
to use GeneSwitch and PINC
technologies in its research
Valentis gets up-front license fee and is entitled to yearly maintenance fees; an earlier
deal gave Schering rights to the technologies for use with two genes (6/7)
Valentis Inc.
(VLTS)
Organon
Laboratories
Ltd. (UK)
Organon licensed rights to
use Valentis’ GeneSwitch
gene-regulation technology
for research purposes
Valentis got a license fee and is entitled to
yearly license maintenance fees; further
terms of the nonexclusive license were not
disclosed (5/25)
Vectura Group
plc (UK; LSE:VEC)
and Arakis Ltd.*
(UK)
Novartis AG
(Switzerland)
Novartis gained rights to
the two companies’ AD 237,
as a monotherapy and with
QAB149, for treating chronic
obstructive pulmonary disease
Arakis and Vectura each will get $15M up
front; they each also are eligible to receive
up to $172.5M in milestone payments, as
well as royalties on any sales (4/13)
Vical Inc.
(VICL)
Merck & Co. Inc.
Merck exercised three options
under an existing deal, giving
it rights to use Vical’s nonviral
gene delivery technology in
cancer vaccine applications
Vical gets a $3M payment and it entitled to
milestone and royalty payments; Vical also
has certain co-promotion rights for resulting products (6/8)
Vitae
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc.*
Exclusive deal to develop
renin inhibitors for treating
hypertension and related
cardiovascular disorders
Vitae gets an up-front payment in cash and
an equity investment, committed research
funding and potential milestone and royalty
payments; pre-commercial payments could
total $175M for the lead product; Vitae also
retains co-promotion rights in the U.S.
(6/20)
Xencor Inc.*
Centocor Inc.
(unit of Johnson
& Johnson)
Deal to use Xencor technology
to create antibody candidates
that Centocor will evaluate
against an oncology target
Xencor gets an up-front payment and is eligible to receive additional license fees, as
well as milestone and royalty payments
(7/18)
Xencor Inc.*
Eli Lilly and Co.
Lilly exercised its option
under a February 2004 deal
to develop one or more
proteins created by Xencor
Xencor gets an up-front license fee and is
eligible to receive milestone payments, as
well as royalties on any sales (4/13)
XenoTech
LLC*
Bristol-Myers
Squibb Co.
Three-year deal under which
BMG got rights to immortalized
Fa2N-4 hepatocytes for internal
testing purposes
Terms were not disclosed; XenoTech is
licensee of the technology from MultiCell
Technologies Inc. (5/23)
Xenova Group
plc (UK; XNVA)
PharmaEngine
Inc. (Taiwan)
PharmaEngine licensed rights
to the brain cancer product
TransMID in China and South
Korea
Xenova gets an up-front payment, as well as
potential milestone payments and royalties on any sales; it also will supply the
product (4/13)
214
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
XOMA Ltd.
(XOMA)
Pharma Co.
(Country)
Merck & Co. Inc.
Type/Product Area
Term/Details (Date)
Merck got rights to use
bacterial cell expression technology for phage display in the
discovery of antibody products
XOMA gets an access fee along with potential milestone and royalty payments; Merck
also got an option to use the technology in
manufacturing antibodies, which would
entail additional payments to XOMA (6/17)
Xytis
Fournier
Pharmaceuticals Pharma (France)
Ltd.* (UK)
Xytis gained rights to develop
and sell Fournier’s Anatibant
for traumatic brain injury and
possibly other indications
Fournier Pharma retained manufacturing
rights to the product, which contains its
bradykinin B2 antagonist; further terms
were not disclosed (6/13)
YM
BioSciences
Inc. (Canada;
TSE:YM)
Deal to develop YM’s TheraCIMhR3 monoclonal antibody for
certain patients with non-smallcell lung cancer
Kuhnil will fund Korean development and
provide an undisclosed amount of up-front,
milestone and royalty payments; further
terms were not disclosed (6/15)
Kuhnil
Pharmaceutical
Co. (South Korea)
THIRD QUARTER
Adherex
Technologies
Inc. (AMEX:ADH)
GlaxoSmithKline
plc (UK)
Adherex licensed GSK’s cancer
product eniluracil, and GSK
got an option to license
Adherex’s ADH-1 (Exherin),
a Phase II cancer compound
GSK retains options to buy back eniluracil
during development; if so, Adherex would
be entitled to development and sales milestone payments of up to $120M, plus royalties; if GSK licenses ADH-1, Adherex would
receive up-front, development and sales
milestone payments of up to $100M, plus
double-digit royalties on any sales (7/15)
Aeres
Biomedical
Ltd.* (UK)
Syngenta AG
(Switzerland)
Deal to develop one of
Aeres’ humanized antibodies
Terms of the deal were not disclosed; also,
Syngenta made an undisclosed payment to
Epimmune Inc., which assigned certain
parts of its existing deal with Aeres to
Syngenta (7/19)
Affibody AB*
(Sweden)
Agilent
Technologies Inc.
Deal to develop advanced
protein sample preparation
solutions for biomarker
discovery
Affibody will design and develop engineered Affibody ligands for specific protein
targets designated by Agilent; terms of the
deal were not disclosed (8/23)
Alfacell
Corp. (ACEL)
The Novartis
Institute for
Tropical Diseases
(Singapore)
NITD got rights to conduct
in vitro testing to evaluate
the activity of AC 03-636
in dengue fever
In vivo studies in animal models potentially
could follow; further details on the material
transfer agreement were not disclosed
(7/21)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
215
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Alnylam
Novartis AG
Pharmaceuticals (Switzerland)
Inc. (ALNY)
Multiyear collaboration to
discover therapeutics based
on RNA interference;
Alnylam retains rights to its
own pipeline and has certain
profit-sharing options
Novartis paid $58.5M up front for the
purchase of 5.3M Alnylam shares at $1 1.1 1
each, representing 19.9% of the company;
Alnylam will get another $10M up front and
could receive a total of $700M if multiple
products are developed, plus royalties on
resulting sales (9/7)
Alnylam
Sigma-Aldrich
Pharmaceuticals Corp.
Inc. (ALNY)
Sigma-Aldrich got nonexclusive
rights to provide research
products and services in RNA
interference under Alnylam
patents
The Kreutzer-Limmer patent family covers
short interfering RNAs and their use to
mediate RNAi in mammalian cells; terms of
the deal were not disclosed (7/19)
Aphios Corp.*
Bio Research Corp.
and Tokyo Supply
Ltd. (both of Japan)
Deal to develop an oral,
water-soluble paclitaxel
prodrug for cancer
Terms of the deal were not disclosed (7/19)
Aptanomics
SA* (France)
Boehringer
Ingelheim GmbH
(Germany)
Collaboration on aptamerbased target validation and
drug discovery
Aptanomics will provide aptamers and
characterize their binding to therapeutic
targets; terms of the deal were not disclosed (8/1)
Astex
Therapeutics
Ltd.* (UK)
Boehringer
Ingelheim
GmbH (Germany)
Collaboration to discover,
develop and market drug
candidates against
undisclosed disease targets
Astex will provide candidates to BI; it gets
up-front and research payments, along with
potential milestone and royalty payments
(8/31)
Astex
Therapeutics
Ltd.* (UK)
AstraZeneca
plc (UK)
Collaboration to discover and
commercialize small-molecule
inhibitors of protein kinase B
for use as anticancer agents
Astex gets $5M up front, research funding
and up to $270M in regulatory and sales
milestones; it would get double-digit sales
royalties, and retains an option to co-promote resulting products in the U.S. (7/27)
Avalon
Novartis AG
Pharmaceuticals (Switzerland)
Inc.*
Collaboration to discover smallmolecule compounds against
a pathway selected by Novartis
Avalon is entitled to an up-front payment,
research support and milestone payments
(9/13)
Avanir
AstraZeneca
Pharmaceuticals plc (UK)
Inc. (AMEX:AVN)
Collaboration to discover
and develop Reverse Cholesterol Transport-enhancing
compounds for treating
cardiovascular disease
Avanir gets $10M up front and is eligible for
up to $330M in milestone payments, as
well as royalties rising from single-digit to
low-double-digit rates; AstraZeneca is
responsible for costs and development
(7/1 1)
BioFocus plc
(UK; AIM:BIO)
BioFocus will use its expertise
in GPCR drug discovery to
generate leads for Organon
targets
The deal followed a screening collaboration between the companies; terms were
not disclosed (8/8)
216
NV Organon
(the Netherlands)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Bio-Medisinsk
Innovasjon
A/S* (Norway)
Pharma Co.
(Country)
GlaxoSmithKline
plc (UK)
Type/Product Area
Term/Details (Date)
Collaboration covering the
5-HT4 receptor antagonist
piboserod (SB 207266)
BMI will complete Phase II testing; GSK then
has an option to take over development
and marketing in heart failure in exchange
for a license fee, milestone payments and
royalties on any sales (9/19)
BioSante
Unnamed
Pharmaceuticals European
Inc. (AMEX:BPA)
company
Option deal to use BioSante’s
calcium phosphate nanotechnology in the development of
a series of allergy products
BioSante gets $0.25M up front; if a license
agreement results, it would get license fees,
annual maintenance payments and potential milestone and royalty payments (9/14)
BioSyntech
Inc. (Canada;
TSE:BSY)
Nicholas Piramal
India Ltd.
(India)
NPIL acquired exclusive rights
to BioSyntech products in
India, Pakistan, Sri Lanka,
Bangladesh, Laos, Cambodia,
Vietnam and the Philippines
NPIL is purchasing 7.5M BioSyntech shares
at C$0.80 each ($4.95M in stock) and
will own about 17% of the company; they
also will explore collaborative opportunities (7/8)
BioVeris Corp.
(BIOV)
Baxter
Healthcare Corp.
BioVeris licensed rights to a
portfolio of vaccine candidates
covering multiple diseases
The vaccines are based on a conjugate
technology platform; Baxter is entitled to
up-front, milestone and royalty payments
(8/1 1)
BioVisioN AG*
(Germany)
Abbott
Laboratories
Collaboration on research to
discover novel biomarkers
for lung cancer
BioVisioN will analyze biological samples
provided by Abbott; it will get research
payments and could get milestone and royalty payments (9/9)
Caliper Life
Sciences Inc.
(CALP)
Agilent
Technologies
Inc.
Agilent got nonexclusive rights
to use microfluidics technology for development of
clinical diagnostic applications
Agilent will develop the applications on its
platforms; also, Caliper will exclusively supply planar LabChip products to Agilent for
five years (7/12)
Caprion
Boehringer
Pharmaceuticals Ingelheim GmbH
Inc.* (Canada)
(Germany)
Deal to to identify biomarkers
of metabolic and inflammatory disease using Caprion’s
CellCarta proteomics platform
Caprion will identify pharmacodynamic
markers in plasma following administration
of preclinical compounds; terms were not
disclosed (7/12)
Celera
Diagnostics
(NYSE:CRA)
Merck & Co. Inc.
They extended their deal to
develop treatments for
Alzheimer’s disease
Celera will genotype gene-based mutations in sample collections as part of an
effort to discover targets and biomarkers;
terms were not disclosed (9/7)
Cell Signaling
Technology
Inc.*
Johnson & Johnson
Pharmaceutical
Research &
Development
Deal to use CST’s PhosphoScan
technology to identify
phosphorylation sites and
biomarker kinase targets
Terms of the deal were not disclosed (7/1 1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
217
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Cellzome Inc.*
Novartis Pharma
AG (Switzerland)
They expanded a deal under
which Cellzome is mapping
the protein networks of
several signaling pathways
The additional work will focus on providing
more in-depth functional analyses of target
candidates and signaling aspects of disease
pathways; terms were not disclosed (7/26)
CeMines Inc.*
Colorado Heart
& Body Imaging
LLC
CHBI got rights to use
technology from CeMines
in upcoming clinical studies
CeMines’ CellCorrect LAb Detection Test
Kits will be used in a program to detect
lung cancer (9/13)
Cerenis
Therapeutics*
Nippon
Chemiphar Co.
Ltd. (Japan)
Deal to develop small-molecule
therapies based on PPAR
(peroxisome proliferator
activated receptor) delta
agonists
Cerenis gets access to PPAR delta agonists
for developing HDL therapies to help
reduce cholesterol buildup; Nippon gets up
to $30M in milestone payments and royalties on any sales; it also gets rights in Asia;
Cerenis has rights elsewhere (8/30)
ChemDiv Inc.*
Schering AG
(Germany)
ChemDiv will use its smallmolecule chemistry expertise
to support Schering programs
The medicinal chemistry research deal will
run at least two years; terms were not disclosed (9/14)
Chronogen
Inc.* (Canada)
Inpharzam Ricerche
(Swiss unit of
Zambon Group SpA)
Deal to identify small
molecules for treating
cardiovascular and metabolic
diseases induced by oxidative
damage and/or lipid disorders
Chronogen will screen the Inpharzam
library in the deal; further details were not
disclosed (7/1)
Ciphergen
Biosystems
Inc. (CIPH)
Quest
Diagnostics Inc.
Deal to develop and sell
proteomic diagnostic tests
based on Ciphergen’s SELDI
ProteinChip technology
Quest purchased 17% of Ciphergen, or 6.2M
shares, for $15M; it got a five-year warrant
to purchase another 2.2M shares at $3.50
each; Quest also provided a loan of up to
$10M that would be forgiven if certain milestones are met (7/22)
Collegium
Pharmaceutical
Inc.*
BTG plc
(UK)
Collaboration to develop
CP-141, a new formulation of
a product used to treat asthma
They will co-fund the development program and share any resulting revenues
(8/31)
CombinatoRx
Inc.*
HenKan
Pharmaceutical
Co. (Taiwan)
HenKan got rights to develop
and sell the cancer agent
CRx-026 in Taiwan, China and
South Korea
CombinatoRx gets $500,000 up front and
up to $23M in development and commercial milestone payments, plus royalties on
sales; HenKan also will fund certain Phase II
trials (7/18)
Competitive
Technologies
Inc. (AMEX:CTT)
Beckman Coulter
Inc.
Beckman Coulter got a license
to a homocysteine assay
Competitive Technologies gets a license
fee and royalties on sales of homocysteine
assay products (7/28)
218
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Curis Inc.
(CRIS)
Procter & Gamble
Pharmaceuticals
Deal to evaluate and develop
treatments for hair growth
regulation using Curis’
Hedgehog agonist technology
Curis gets $0.5M up front and up to $2.8M
in preclinical milestones, as well as royalties
on any sales; milestone payments could
exceed $100M if a product is marketed;
Curis retains certain co-development options
and rights in certain fields (9/19)
Cytomyx
Holdings plc
(UK; AIM:CYX)
Wyeth
Pharmaceuticals
Cytomyx got rights to create
and market cell lines expressing
the ion channel Kv4.3 and
four KChIP accessory subunits
Cytomyx will use the technology in
research reagents for use in drug discovery
and screening; terms were not disclosed
(8/4)
Depomed Inc.
(DEPO)
Esprit Pharma
Inc.
Esprit got exclusive rights to
market Proquin XR in the U.S
and Puerto Rico; the product
was approved for treating
uncomplicated urinary tract
infections
Depomed gets $30M up front and $20M
more within 24 months, as well as royalties
of 15% to 25%; launch of the extendedrelease formulation of ciprofloxacin is
expected in 4Q:05 (7/28)
Dyax Corp.
(DYAX)
Merck KGaA
(Germany)
Merck got nonexclusive rights
to phage display libraries for
discovery and development of
antibody and peptide drugs
Dyax gets an up-front license fee, as well as
annual maintenance fees and potential
milestone and royalty payments; Merck
also has an option under which Dyax would
perform funded research (8/18)
Epitome
Biosystems*
EMD Biosciences
(unit of Merck
KGaA; Germany)
Deal under which Epitome will
develop reagents to measure
intracellular signaling proteins
Epitome will get a technology access fee
and could receive development payments
and royalties on product sales (9/14)
Evotec AG
(Germany; FSE:
EVT)
Procter & Gamble
Pharmaceuticals
Inc.
Evotec will provide pharmaceutical discovery and chemical
development services to P&G
The deal follows a 2004 program between
them in which Evotec screened for a P&G
target; terms were not disclosed (7/25)
Evotec AG
(Germany; FSE:
EVT)
Almirall
Prodesfarma SA
(Spain)
Evotec will design and synthesize for Almirall drug-like
compounds across a range
of chemical templates
Terms of the two-year library synthesis
agreement were not disclosed (7/21)
Galapagos NV
(Belgium;
Euronext:GLPG)
Novartis
Pharmaceuticals
UK Ltd.
Galapagos’ Galadeno unit will
design a research program for
Novartis for functional assays
in human primary cell assays
Galadeno will get research payments in
exchange for providing technology,
reagents and support to Novartis (7/6)
Genaissance will apply its HAP
Technology in order to
identify genetic markers
related to drug response
The companies will co-own technology
coming from the pharmacogenomic effort,
and both would be entitled to royalties on
resulting diagnostic products (9/21)
Genaissance
Otsuka
Pharmaceuticals Pharmaceutical
Inc. (GNSC)
Co. Ltd. (Japan)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Genaissance
NV Organon
Pharmaceuticals (the Netherlands)
Inc. (GNSC)
Deal to apply Genaissance’s
HAP technology for pharmacogenetic research in clinical
trials
They will look at modulation of the HPA
stress axis for treating psychiatric disorders; Genaissance gets license fees and
research funding and has certain rights to
develop companion genetic tests (7/18)
Genedata AG*
(Switzerland)
DSM Biologics
(the Netherlands)
DSM Nutritional Products
licensed rights to biologic
solutions from Genedata
DSM got rights to the Genedata Phylosopher and Genedata Expressionist technology under undisclosed terms (7/28)
Gene Logic
Inc. (GLGC)
Pfizer Inc.
Gene Logic will seek new
therapeutic indications for a
number of Pfizer drug
candidates not currently in
active development
Gene Logic is entitled to milestone payments on each compound and royalties on
sales of any resulting drugs (9/27)
Gen-Probe Inc.
(GPRO)
Millipore
Corp.
Deal to exclusively develop
and sell nucleic acid testing
products for microbiological
and virus monitoring
Gen-Probe primarily will be responsible for
assay development and manufacturing,
while Millipore will manage commercialization (8/31)
Geron Corp.
(GERN)
Merck & Co. Inc.
Collaboration and license
agreement to develop a cancer
vaccine targeting telomerase;
Merck also acquired an option
to negotiate a deal for Geron’s
dendritic cell-based telomerase
vaccine that’s in Phase I/II trials
Geron gets an up-front payment and is eligible to receive milestone and royalty payments; Merck also will invest in Geron’s
next round of financing; Geron got an
option payment in the second deal; terms
would be negotiated upon exercise of the
option (7/18)
Halozyme
Therapeutics
Inc. (AMEX:HTI)
Baxter
Healthcare
Corp.
Baxter exercised its option
to market Hylenex in the
European Union
Baxter already had rights in the U.S. to
Hylenex, a recombinant human hyaluronidase being developed for use as a spreading agent; terms were not disclosed (8/8)
Human Genome
Sciences Inc.
(HGSI)
GlaxoSmithKline
plc (UK)
GSK exercised its option to
jointly develop and sell
HGS-ETR1 (mapatumumab),
a drug candidate for cancer
GSK exercised an option from a 1 996
deal on the Phase II product; they will
equally share costs going forward and any
profits (8/18)
Human Genome
Sciences Inc.
(HGSI)
GlaxoSmithKline
plc (UK)
GSK exercised its option to
jointly develop and sell
LymphoStat-B for rheumatoid
arthritis and lupus
The option from the 1996 deal was exercised following Phase II trials; they will
equally share costs going forward and any
profits (7/7)
Illumina Inc.
(ILMN)
GlaxoSmithKline
plc (UK)
Illumina will conduct genetic
studies for thousands of GSK
samples covering multiple
projects
Terms of the multiyear genotyping services
agreement were not disclosed (9/22)
220
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
ImClone
Systems Inc.
(IMCL)
UCB Group
(Belgium)
Deal to develop and market
UCB’s CDP-791, an antibody
targeting VEGFR-2; the cancer
drug is entering Phase II trials
They will share development costs and
worldwide profits; ImClone has commercialization rights in North America, with
UCB having such rights in the rest of the
world (8/15)
Immunetrics
Inc.*
Eli Lilly and Co.
Deal to apply in silico
modeling technology to
clinical trial design
Immunetrics will apply the technology to
an undisclosed project at Lilly; terms were
not disclosed (9/7)
ImmunoGen
Inc. (IMGN)
Sanofi-Aventis
Group (France)
Sanofi exercised its right to
extend their collaboration
focused on antibody-based
anticancer products
ImmunoGen will get $18.2M in research
support over the 12 months beginning Sept.
1, 2006; ImmunoGen remains entitled to
milestone and royalty payments from the
2003 deal (8/31)
Indevus
Schering AG
Pharmaceuticals (Germany)
Inc. (IDEV)
Indevus licensed U.S. rights
to market Nebido, a longacting injectable testosterone
preparation; it is approved
in Europe
Indevus will pay $7.5M up front and $5M
upon U.S. approval, and up to $17.5M in
regulatory and commercial milestones;
Schering also would get a percentage of net
sales (7/29)
InforSense
Ltd.* (UK)
Bayer
Healthcare
AG (Germany)
Bayer will use InforSense
technology to enhance its
drug discovery informatics
infrastructure
Terms of the deal were not disclosed (9/8)
Innocoll Inc.*
Medexis SA
(Greece; part of the
Gerolymatos Group
of Companies)
Deal to develop a woundhealing product based on
Innocoll’s CollaRx membrane
technology
Medexis will fund development and be
responsible for regulatory applications;
terms of the deal were not disclosed (9/8)
Inpharmatica
Ltd.* (UK)
Tibotec
Pharmaceuticals
Ltd. (Belgium; unit of
Johnson & Johnson)
Tibotec will use Inpharmatica’s
Chematica technologies to
study the action of antiviral
compounds from Tibotec
The technology links compounds with
putative molecular targets; terms of the
deal were not disclosed (8/1)
Intercell AG
(Austria;
VSE:ICLL)
Sanofi-Pasteur
Group (France)
Sanofi exercised its option
on exclusive rights to certain
bacterial vaccine antigens
Intercell gets license, research and success
fees of €3M; it is entitled to further milestone payments of up to €20M, as well as
royalties on resulting sales (7/1)
Collaborations focused on
identifying biomarkers that
may drive the response to
anticancer drugs
Ipsogen will collect samples from clinical
trials and will perform sample processing
and pathology analysis, while Genaissance
will perform genotyping and data analysis
for the undisclosed partners (9/12)
Ipsogen SAS*
Two
(France) and
pharmaceutical
Genaissance
companies
Pharmaceuticals
Inc. (GNSC)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
221
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Isis
Eli Lilly and Co.
Pharmaceuticals
Inc. (ISIS)
They extended a four-year
antisense drug discovery
collaboration an additional
two years
Lilly also got rights to another Isis drug,
an inhibitor of STAT-3 for cancer; Isis is
entitled to milestones and royalties from
that product; as part of the extension, Isis
converted a $100M loan from Lilly into 2.5M
shares of Isis common stock (8/8)
Isotechnika
Inc. (Canada;
TSE:ISA)
Atrium Medical
Corp.
Exclusive deal to develop
Isotechnika’s TAFA93 and
ISA247 with drug-eluting
devices in various indications
Isotechnika gets $3M up front and is entitled to milestone and royalty payments on
resulting products; Atrium will fund
development (9/30)
Ixion
Biotechnology
Inc.*
Q-Med AB
(Sweden)
Ixion transferred the assets
and employees related to
its oxalate technology to
Q-Med
Ixion received almost all of Q-Med’s Ixion
stock, $344,000 in cash and $6M in debt
forgiveness from its former majority shareholder; Ixion regained its independent
status (7/1 1)
KeyNeurotek
AG* (Germany)
Schwarz Pharma
AG (Germany)
Schwarz will use Telomics
technology from KeyNeurotek
to characterize drug candidates in its urology program
Terms of the deal were not disclosed
(7/14)
Labopharm
Inc. (Canada;
TSE:DDS)
Purdue Pharma
LP
Purdue got exclusive rights
to market Labopharm’s oncedaily formulation of the
analgesic tramadol in the U.S.
Labopharm gets $20M up front, up to
$40M upon FDA approval and additional
payments if sales targets are reached; it
also would get royalties of 20% to 25%
(8/15)
Lipoxen
Technologies
Ltd.* (UK)
Baxter
Healthcare
Corp.
Lipoxen will apply its
technology to develop
blood-clotting factors with
extended biological activity
Lipoxen gets research funding along with
potential milestone and royalty payments
(9/27)
Lipoxen
Technologies
Ltd.* (UK)
National
Biotechnologies
OAO (Russia)
National Biotechnologies
got certain rights to
extended-release insulin
and interferon products
Lipoxen gets $750,000 up front and is
entitled to royalty payments; the license
covers Russia, Ukraine and Kazakhstan
(9/27)
They amended a 2004 deal
under which MAP is applying
Elan’s NanoCrystal technology
to certain inhalation therapies
MAP gets additional rights to use the technology for treating multiple respiratory diseases, including asthma; it covers nebulized delivery of budesonide and combinations of budesonide with beta agonists;
terms were not disclosed (7/27)
MAP
Elan Corp. plc
Pharmaceuticals (Ireland)
Inc.*
222
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
MedImmune
Inc. (MEDI)
Pharma Co.
(Country)
GlaxoSmithKline
plc (UK)
Type/Product Area
Term/Details (Date)
MedImmune got rights to
certain anti-staphylococcal
monoclonal antibodies,
including the Phase II product
BSYX-A1 10
GSK gets an up-front payment as well as
potential milestone payments and royalties
on sales; MedImmune also assumed
responsibility for any milestone and royalty
payment obligations to Biosynexus (8/29)
MerLion
Merck & Co. Inc.
Pharmaceuticals
Pte. Ltd.*
(Singapore)
They are expanding and
extending deal to discover
and develop drugs derived from
natural products chemistry
The deal was extended two years and
expanded to include additional targets;
MerLion is entitled to up-front, milestone
and royalty payments (7/26)
Mesoblast Ltd.
(Australia; ASX:
MSB)
Unnamed
medical device
company
The device company will
provide carrier materials
to Mesoblast
The materials will be used in combination
with Mesoblast’s adult stem cells in preclinical trials (8/24)
Migenix Inc.
(Canada; TSE:MGI)
Schering-Plough
Corp.
Schering-Plough got first
rights to negotiate a license to
celgosivir (MX-3253), a Phase
II product for hepatitis C
Schering-Plough will supply Pegetron and
certain services for Migenix’s upcoming
Phase II combination study; it will have a
limited period to review the data and
negotiate a license (7/13)
Millennium
Schering-Plough
Pharmaceuticals Corp.
Inc. (MLNM)
Schering-Plough acquired all
rights in the U.S. to the
GP IIb/IIIa inhibitor Integrilin;
they had been co-promoting
the drug in the U.S.
Millennium gets $35.5M up front and royalties on sales; the minimum royalties in
2006 and 2007 are $85M each year; SP also
will pay $45M to $50M to Millennium for
existing Integrilin inventories (7/22)
MorphoSys
AG (Germany;
FSE:MOR)
Centocor Inc.
(unit of Johnson
& Johnson)
MorphoSys will generate
antibodies to a target
molecule discovered in
their collaboration
MorphoSys is entitled to licensing fees and
milestone and royalty payments (9/6)
MorphoSys
AG (Germany;
FSE:MOR)
Eli Lilly and Co.
Cross-licensing deal
covering the use of certain
recombinant protein
technologies
MorphoSys is entitled to licensing fees and
milestone and royalty payments on covered products developed by Lilly; the deal
settled patent litigation (9/23)
MorphoSys
AG (Germany;
FSE:MOR)
Shionogi & Co.
Ltd. (Japan)
Shionogi licensed access to
the HuCAL GOLD antibody
library for use in drug
discovery programs
MorphoSys gets an up-front payment and
annual user fees under terms of the threeyear deal (9/7)
Nektar
Therapeutics
(NKTR)
Baxter
Healthcare
Corp.
Deal to develop PEGylated
forms of blood-clotting
proteins for treating
hemophilia
Nektar is entitled to research payments
along with potential milestone payments,
manufacturing revenues and sales royalties
(9/29)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
223
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
NexMed Inc.
(NEXM)
Novartis
International
Pharmaceutical Ltd.
Novartis got worldwide rights
to NexMed’s Phase I product
NM100060, a lacquer
treatment for nail fungus
NexMed gets $4M up front and up to $47M
in milestone payments, as well as royalties
on any resulting sales (9/15)
NicOx SA
(France; Eurolist:
NICOX)
Grupo Ferrer
Internacional SA
(Spain)
They expanded deal to discover
and develop nitric oxidedonating corticosteroids for
dermatology applications
Ferrer got an option to acquire U.S. rights;
NicOx is eligible to receive more milestone and royalty payments than called for
in the original deal (9/15)
Nobex Corp.*
Biocon Ltd.
(India)
Agreement to co-develop an
oral brain-type natriuretic
peptide product for treating
cardiovascular disease
They will use the oral peptide delivery
technology of Nobex with the peptide production capabilities of Biocon; terms of the
deal were not disclosed (8/23)
Paion AG
(Germany;
FSE:PA8)
H. Lundbeck
A/S (Denmark)
Deal to develop and market
Paion’s Phase III product
Desmoteplase for stroke
everywhere except the
U.S. and Canada
Paion gets €15M up front and up to €50M
in milestones for the the indication of
stroke; Paion has co-promotion options
and would get double-digit royalties on
sales where Lundbeck has exclusivity (7/1 1)
ParAllele
BioScience
Inc.*
Merck & Co. Inc.
Deal to discover genetic
variations applicable to cancer
susceptibility, prognosis
or response to therapy
ParAllele will use its genotyping technology
to characterize genetic changes in tumor
samples identified by Merck; terms of the
deal were not disclosed (7/6)
Perlegen
Sciences Inc.*
GlaxoSmithKline
plc (UK)
New deal enables multiple
genetics-related studies to be
conducted over a period of time
It is the third deal between the companies;
terms were not disclosed (8/31)
Pharmacopeia
Drug Discovery
Inc. (PCOP)
NV Organon
(the Netherlands)
They extended drug-discovery
collaboration from 2002 until
2007
Organon elected to continue the deal by
accepting the latest preclinical lead candidate generated by Pharmacopeia; specific
terms were not disclosed (8/30)
Pharmacopeia
Drug Discovery
Inc. (PCOP)
Allergan Inc.
Allergan got rights to
angiogenesis-targeting
compounds in the field of
ophthalmology
Pharmacopeia gets an up-front payment
and may get preclinical and clinical payments, plus milestone and royalty payments (7/12)
Primagen
Holding BV*
(the Netherlands)
Focus
Diagnostics Inc.
Focus got rights to develop
PCR detection for human
coronavirus NL63
Terms of the license deal were not disclosed
(9/12)
Novacea Inc.*
Pierre Fabre
Medicament SA
(France)
Novacea acquired U.S. and
Canadian rights to the oral
chemotherapeutic agent
vinorelbine
The drug is approved in Europe; Pierre
Fabre is entitled to up-front, milestone,
manufacturing and royalty payments
(7/25)
224
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Odyssey
Thera Inc.*
Bristol-Myers
Squibb Co.
Odyssey will profile certain
BMS compounds in its cellbased assays
The goal is to further characterize mechanism of action and pathway activity; terms
of the deal were not disclosed (7/14)
OriGene
Technologies
Inc.*
Eisai London
Research
Laboratories
Eisai licensed OriGene’s
FlagArray platform for highthroughput target discovery
Terms of the deal were not disclosed (8/2)
OSI
Unnamed
Pharmaceuticals Japanese
Inc. (OSIP)
company
The pharmaceutical firm got
a nonexclusive license to
use dipeptidyl peptidase IV
inhibitors for treating Type II
diabetes and related conditions
OSI is entitled to up-front, milestone and
royalty payments; the deal was made with
the OSI diabetes and obesity unit Prosidion
(7/7)
Revivicor Inc.*
Zimmer Holdings
Inc.
Zimmer acquired worldwide
rights to genetically engineered xenogeneic tissues
for regenerative therapies
Zimmer initially plans to develop the technologies for orthopedic applications; terms
of the deal were not disclosed (9/20)
Sangamo
BioSciences
Inc. (SGMO)
LifeScan Inc.
(unit of Johnson
& Johnson)
They expanded deal to use
Sangamo’s zinc finger DNAbinding proteins to develop
therapeutic cell lines for
treating diabetes
Sangamo will receive expanded research
funding from LifeScan through 2006 under
the second expansion of the deal (9/14)
Sangamo
BioSciences
Inc. (SGMO)
Novo Nordisk
A/S (Denmark)
Novo got access to Sangamo’s
zinc finger DNA-binding
protein technology
Novo will evaluate the technology for use
in enhancing protein production; terms of
the deal were not disclosed (9/7)
Santhera
Takeda
Pharmaceuticals Pharmaceutical
AG* (Switzerland) Co. Ltd. (Japan)
Collaboration to develop and
market Idebenone (SNT-MC17),
a small-molecule drug for
treating Friedreich’s ataxia
Santhera gets €5M up front and potential
milestone and royalty payments; Takeda
gets exclusive rights in Europe; Phase III
trials are planned (8/3)
Sareum
Holdings plc
(UK; AIM:SAR)
Almirall
Prodesfarma SA
(Spain)
Sareum will provide protein
structure determination
services to accelerate drug
discovery research at Almirall
The goal is to determine how Almirall’s
drug candidates interact with their target
proteins; terms were not disclosed (8/10)
SeBo GmbH*
(Germany)
Novartis AG
(Switzerland)
Novartis acquired global
rights to an oral phosphate
binder for treating elevated
serum phosphate levels
Rights to the Phase I compound include
patients with chronic kidney disease or
patients already on dialysis; terms of the
deal were not disclosed (8/18)
Sirna
Therapeutics
Inc. (RNAI)
Allergan Inc.
Deal to develop Sirna-027, a
Phase I product for age-related
macular degeneration, and
other RNAi-based drugs for
ophthalmic diseases
Sirna gets $5M up front and is eligible for
development milestones of up to $245M in
addition to research funding and royalties
on any resulting sales; Sirna also can get
manufacturing revenues (9/29)
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225
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Strand Life
Sciences Pvt.
Ltd.* (India)
Elan Corp. plc
(Ireland)
Strand will use its in silico
technologies to support
Elan drug discovery efforts
Terms of the deal were not disclosed (9/29)
Structural
GenomiX Inc.*
Eli Lilly and Co.
They extended for three years
an April 2003 deal focused on
Lilly’s drug discovery programs
SGX is applying its technologies to Lilly
drug targets to determine crystal structures and data on target/inhibitor complexes; terms were not disclosed (7/13)
TNO Pharma*
(the Netherlands)
Mitsubishi
Pharma Corp.
(Japan)
Collaboration to further
characterize a set of disease
targets from Mitsubishi
TNO will use its siRNA-based knockdown
technology and disease models in the deal,
terms of which were not disclosed (9/6)
Tripos Inc.
(TRPS)
Servier
(France)
Collaboration to further design
and synthesize compounds for
potential drug development
Tripos will apply its chemistry technologies
in the deal, terms of which were not disclosed (8/30)
Velcura
Therapeutics
Inc.*
Nippon
Chemiphar Co.
Ltd. (Japan)
Deal to further develop
small-molecule therapies for
osteoporosis and other bone
diseases
A lead compound has been discovered;
the deal pairs Chemiphar’s expertise in
drug discovery with Velcura’s process of
growing human bone in tissue culture (8/9)
Vical Inc.
(VICL)
Merck & Co. Inc.
Merck got options to use
Vical’s nonviral gene delivery
technology for additional
cancer targets
In exchange, Vical got nonexclusive rights
to use the technology for vaccines against
HIV; also, Merck got an option to use
electroporation-enhanced delivery technology with HIV vaccines (9/12)
ViroLogic
Inc. (VLGC)
Schering-Plough
Corp.
ViroLogic will use its HIV
resistance testing technology
to support discovery and
development at SP
ViroLogic will get $4.8M under the multiyear service agreement; the focus is on
Schering-Plough’s CCR5 receptor antagonist, vicriviroc (7/6)
XOMA Ltd.
(XOMA)
Wyeth
Wyeth got a nonexclusive
license to XOMA’s expression
technology
Wyeth will use the technology to develop
and produce recombinant proteins; terms
of the deal were not disclosed (9/7)
Affectis
NV Organon
Pharmaceuticals (the Netherlands)
AG* (Germany)
Affectis will apply its
technologies to the
validation of gene targets
in depression and anxiety
Terms of the deal were not disclosed (1 1/2)
Affibody AB*
(Sweden)
Affibody will develop a
product for the removal
of a target molecule from
fluid mixtures
Asahi Kasei intends to develop a medical
device using the Affibody molecule; terms
of the deal were not disclosed (1 1/1)
FOURTH QUARTER
226
Asahi Kasei
Corp. (Japan)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Affymetrix
Inc. (AFFX)
Applied
Biosystems
Group
ABG got nonexclusive rights
to patents related to the
use and sale of microarrays
for gene expression analysis
The license will be applied to the expansion
of the Applied Biosystems Expression Array
System; terms were not disclosed (12/22)
Affymetrix
Inc. (AFFX)
GlaxoSmithKline
plc (UK)
GSK got rights to use the
Affymetrix GeneChip Human
Mapping 500K Array Set to
find genetic variations
GSK will use the arrays to perform wholegenome association studies across tens of
thousands of samples; terms of the deal
were not disclosed (10/4)
Agensys Inc.*
Merck & Co. Inc.
Deal to develop and sell
Agensys’ AGS-PSCA, a fully
human monoclonal antibody
to prostate stem cell antigen;
Merck also got rights to the
PSCA target and to any
resulting products
Agensys gets $17.5M up front and up to
$1 1.5M more over 12 months; successful
development of AGS-PSCA would trigger
milestone payments of $95M and more
than $170M if multiple oncology indications are developed; Agensys also would
get royalties on sales (10/17)
Agensys Inc.*
Sanofi-Aventis
Group (France)
Collaboration with Sanofi
Pasteur to develop vaccines
against colorectal and
prostate cancers
Sanofi gets an option to license up to six
targets for development in the three-year
deal; Agensys gets an up-front payment,
research funding and progress payments;
it also could receive license fees, milestone payments and royalties on resulting
sales (10/10)
Albany
Molecular
Research Inc.
(AMRI)
Bristol-Myers
Squibb Co.
BMS got rights to compounds
that encompass biogenic
amine reuptake inhibitors for
treating depression and other
CNS disorders
AMRI gets an up-front payment of $8M and
$10M in research funding over three years;
it also is eligible to receive up to $66M per
compound in development and regulatory
milestone payments for the first two compounds and milestone payments of up to
$22M for subsequent compounds, as well
as royalties on resulting sales (10/24)
Alder BioSchering-Plough
pharmaceuticals Corp.
Inc.*
Deal to use Alder technologies
to identify and produce
antibodies more rapidly
and cost effectively
Alder will work with up to 10 Schering-Plough
products; Alder is eligible to receive milestone payments, research support and royalties on each of the antibodies (12/2)
Alimentary
Health Ltd.*
(Ireland)
Procter & Gamble
Co.
They entered a worldwide
license agreement covering
gastrointestinal indications
Details on the deal were not disclosed; they
are partners in the Alimentary Pharmabiotic
Centre at University College Cork (12/14)
Alligator
Bioscience
AB* (Sweden)
Undisclosed
European
company
Deal to optimize an
undisclosed protein using
Alligator’s FIND technology
Alligator is entitled to milestone payments
in the deal (10/17)
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Ambit
Biosciences
Corp.*
Bristol-Myers
Squibb Co.
BMS gets access to kinase
profiling technology for use
in discovery and development,
under a five-year expansion of
an existing deal
Ambit gets an up-front payment, an equity
investment and profiling revenues over the
five-year term; it also got rights to develop
candidates from a cancer-directed preclinical kinase inhibitor program (12/12)
Ambrx Inc.*
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Deal to use Ambrx technology
to develop next-generation
proteins and peptides
The initial focus is on pegylated interferonalpha molecules; Ambrx is entitled to license fees, research funding, milestone
payments and royalties on sales (12/8)
American
Pharmaceutical
Partners Inc.
(APPX)
Taiho
Pharmaceutical
Co. Ltd. (Japan)
Taiho got rights in Japan
to Abraxane, a taxane
product for solid tumors
APPI is entitled to up-front and milestone
payments in excess of $50M, as well as royalties on sales; it also will supply product
for the Japanese market (1 1/15)
Apoxis SA*
(Switzerland)
Astellas Pharma
GmbH (Germany)
Apoxis acquired worldwide
rights to FK866, a cancer
compound it renamed APO866
Phase II trials are planned; Astellas gets an
up-front payment and potential milestone
and royalty payments (12/15)
Ardana plc
(UK; LSE:ARA)
Pharmacuro ApS
(Denmark)
Pharmacuro got rights to
market Striant SR in the
Nordic region
Pharmacuro anticipates launching the testosterone replacement therapy in 2006;
terms of the deal were not disclosed (1 1/9)
Array
BioPharma
Inc. (ARRY)
Ono
Pharmaceutical
Co. Ltd. (Japan)
Collaboration to create smallmolecule drug candidates
against a series of kinases
selected by Ono
Ono will provide funding to access Array’s
Drug Discovery Platform; Array also is
entitled to milestone payments and royalties on any resulting sales (1 1/4)
Astex
Therapeutics
Ltd.* (UK)
Novartis AG
(Switzerland)
Novartis got rights to Astex’s
cell-cycle inhibitor AT931 1,
and an option to license the
cell-cycle inhibitor AT7519
Astex gets up-front and deferred equity
payments totaling $25M and is entitled to
research funding, reimbursement fees,
option payments and milestones; total
funding, excluding royalties, could reach
$520M if three products are successfully
developed (12/6)
AtheroGenics
Inc. (AGIX)
AstraZeneca
plc (UK)
AstraZeneca got worldwide
rights to AGI-1067, an
AtheroGenics product in
Phase III trials for treating
atherosclerosis
AtheroGenics gets $50M up front and up to
$300M in regulatory and development
milestones; it also is entitled to up to
$650M in sales-related milestones, as well
as royalties on sales (12/22)
Deal to use AVEO’s platform
to identify likely responders
to cancer drugs being
developed by Merck
AVEO gets an equity investment, annual
research funding and potential milestone
payments; the deal involves use of AVEO’s
Human Response Prediction platform (1 1/2)
AVEO
Merck & Co. Inc.
Pharmaceuticals
Inc.*
228
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Benitec Ltd.
(Australia;
ASX:BLT)
Pharma Co.
(Country)
Sigma-Aldrich
Corp.
Type/Product Area
Term/Details (Date)
Sigma-Aldrich got an exclusive
license to use Benitec’s RNAi
technology in the research
reagent market
Benitec received a $2M license payment
and a $2.5M equity investment at A$0.17
per share; it also is entitled to revenue
from royalties and sublicenses (10/24)
BioCryst
Hoffmann-La
Pharmaceuticals Roche Inc.
Inc. (BCRX)
Roche got exclusive rights to
the Phase I compound BCX4208, which is being developed
for transplantation and
autoimmune indications
BioCryst gets $25M up front and $5M for
material; milestone payments could reach
$530M; BioCryst would get royalties on any
sales; BioCryst retains certain U.S. co-promotion rights (1 1/30)
BioSyntech
Inc. (Canada;
CDNX:BSY)
Kuhnil Pharma
Co. Ltd. (South
Korea)
Kuhnil got exclusive rights in
Korea to BioSyntech’s BSTCarGel and BST-InPod products
Kuhnil purchased 1.5M shares for $1.2M;
further details on the letter of intent were
not disclosed (10/18)
BioTrove Inc.*
Schering-Plough
Research Institute
BioTrove will use its RapidFire
Lead Discovery service on
Schering-Plough targets
BioTrove will provide assay development
and high-throughput screening under the
expansion of an existing agreement (12/6)
Cambridge
Antibody
Technology
Group plc
(UK; CATG)
Genencor
International
Inc. (unit of
Danisco A/S;
Denmark)
CAT acquired the Phase II
cancer drug GCR-3888 and
the preclinical cancer drug
GCR-8015; it also hired 10
people involved in the program
Genencor is getting $14M in the form of
1.17M CAT shares, or 2.3% of CAT; it could
get another $2M in milestone payments
(1 1/1)
Caprion
AstraZeneca plc
Pharmaceuticals (UK)
Inc.* (Canada)
Deal under which AstraZeneca
will evaluate a number of
prostate cancer drug targets
discovered by Caprion
Caprion gets an up-front payment and
license fees, and could get development
and commercialization milestone payments (1 1/1)
Cardium
Therapeutics
Inc.*
Schering AG
(Germany)
Cardium acquired a portfolio
of cardiovascular growth
factor therapeutic candidates
Terms of the deal were not disclosed; the
deal was made concurrently with a merger
and financing by Cardium (10/20)
Cellectis SA*
(France)
Shire
Pharmaceuticals
Group plc (UK)
Shire got nonexclusive rights
to site-directed genome
engineering technologies
The technology will be used to develop
genetically engineered cells to produce
certain gene-activated drugs; terms were
not disclosed (12/20)
Cellectis SA*
(France)
AstraZeneca plc
(UK)
AstraZeneca got nonexclusive
rights to use homologous
recombination technology
AstraZeneca got rights to use the technology for manipulations of genetic material
in rodents; terms were not disclosed (12/13)
They extend partnership in
target validation following
successful pilot phase
Cenix will use its high-throughput RNAi
technology in up to six more projects to
screen genes identified by Schering; terms
were not disclosed (10/25)
Cenix
Schering AG
BioScience
(Germany)
GmbH* (Germany)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
229
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Cephalon Inc.
(CEPH)
Pharma Co.
(Country)
Bausch & Lomb
Inc.
Type/Product Area
Term/Details (Date)
B&L got rights to develop
ophthalmic products
containing compounds that
inhibit angiogenesis
B&L is responsible for development; Cephalon would get a milestone payment upon
acceptance of a drug application and
would get royalties on sales (12/1)
Cerimon
Undisclosed
Pharmaceuticals Japanese
Inc.*
company
Cerimon acquired U.S. rights
to two topical formulations
of diclofenac
Diclofenac is a non-steroidal anti-inflammatory drug; terms of the deal were not disclosed (10/26)
Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)
Becton Dickinson
and Co.
BD got rights to patents
related to expansion of
antigen-specific T cells
for a limited field of use
Chromos gets license and maintenance fees
and is eligible for milestone and royalty
payments; the field of use was not disclosed
(10/5)
Corcept
Therapeutics
Inc. (CORT)
Eli Lilly and Co.
Lilly will support Corcept’s
study of Corlux, a GR-II antagonist, to mitigate weight gain
associated with use of
olanzapine
Lilly will supply olanzapine and pay for the
study, which will explore the mechanism of
action of GR-II antagonists for mitigating
weight gain associated with atypical
antipsychotic medications (10/21)
Crucell NV
(the Netherlands;
CRXL) and
DSM Biologics
(the Netherlands)
Ferring
Pharmaceuticals
A/S (Denmark)
Ferring got rights to use the
PER.C6 cell line in production
of a specific protein in the
field of women’s health
Terms of the deal were not disclosed
(12/21)
Crucell NV
(the Netherlands;
CRXL)
DSM Biologics
(the Netherlands)
Agreement to expand development of their PER.C6 protein
and monoclonal antibody
licensing business
They plan to develop an integrated solution
for producing recombinant products on the
cell line; they have been working together
since 2002 (12/20)
Crucell NV
(the Netherlands;
CRXL)
Tibotec
Pharmaceuticals Ltd.
(unit of Johnson
& Johnson)
Tibotec got nonexclusive
rights to use the PER.C6
cell line for research in the
field of virology
Crucell is entitled to a license fee, annual
maintenance fees and milestone payments;
further terms were not disclosed (1 1/23)
Curis Inc.
(CRIS)
Centocor Inc.
(unit of Johnson
& Johnson)
Curis will perform screening
and other work for Centocor’s
BMP-7 program
Centocor previously licensed the bone
morphogenetic pathway technology from
Curis; Centocor has an option to license
resulting products (12/15)
Curis Inc.
(CRIS)
Wyeth
Wyeth extended the research
term on their collaboration by
one year, through Feb. 9, 2007
The January 2004 deal focuses on Hedgehog agonists, primarily in neurology; Curis
is entitled to additional research funding
(1 1/21)
Collaboration to obtain
biodefense-related federal
contracts
Contract calls for them to compete for federal research projects; terms were not
disclosed (12/27)
CytoGenix
Fast Trak
Inc. (OTC BB:CYGX) BioDefense (unit
of GE Healthcare)
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Cytomedix
Inc. (AMEX:GTF)
COBE
Cardiovascular Inc.
(unit of the Sorin
Group; Italy)
COBE licensed all rights to the
“Knighton” patent of autologous
platelet releasate therapies for
healing purposes
Cytomedix gets an up-front royalty payment and is entitled to royalties of 7.5% and
1.5% on sales of disposable products and
hardware products, respectively (10/10)
Cytori
Therapeutics
Inc. (FSE:XMP)
Olympus Corp.
They formed a 50-50 joint
venture to develop systems
for stem cell and regenerative
cell therapies
They intend to develop devices based on
Cytori’s Celution System; Olympus will
contribute device technology and $30M to
the venture; Cytori gets $1 1M up front and
a potential $1 1M milestone payment (1 1/4)
Depomed
Inc. (DEPO)
Madaus Srl
(Italy)
Madaus got exclusive rights
to commercialize the antibiotic
ProQuin XR in Europe
Madaus is responsible for gaining
approvals in Europe; specific terms were
not disclosed (1 1/29)
Discovery
Laboratories
Inc. (DSCO)
Chrysalis
Technologies (unit
of Philip Morris
USA Inc.)
Deal to develop and market
aerosolized surfactant
replacement therapies for
treating respiratory conditions
Discovery gets rights to Chrysalis’ aerosolization technology for use with pulmonary
surfactants; Chrysalis is entitled to royalties on resulting sales (12/1 1)
Discovery
Partners
International
Inc. (DPII)
Mitsubishi
Pharma Corp.
(Japan)
Deal to discover lead compounds for a therapeutic
target selected by Mitsubishi
Terms and the therapeutic focus of the
deal were not disclosed (10/26)
Discovery
Partners
International
Inc. (DPII)
Ono
Pharmaceutical
Co. Ltd. (Japan)
DPI will work on multiple
hit-to-lead and lead
optimization projects for Ono
Financial terms and the therapeutic focus
were not disclosed (10/24)
Domantis Ltd.*
(UK)
Bristol-Myers
Squibb Co.
Collaboration to develop
Domain Antibody therapeutics
in the fields of immunology
and oncology
Domantis gets $9.2M in up-front and
research payments; it could get milestone
payments of up to $20M per product, as
well as royalties on sales; two existing
Domantis programs are included (12/5)
Epitomics
Inc.*
Hoffmann-La
Roche Inc.
Roche licensed rabbit monoclonal antibody technology,
for use in discovery and
development of antibodies
for cancer and other diseases
Epitomics is entitled to milestone payments
and royalties on sales of products developed from the RabMab technology (10/18)
EvoGenix Ltd.
(Australia; ASX:
EGX)
GlaxoSmithKline
plc (UK)
Deal to apply EvoGenix’s
EvoGene technology to
compounds in GSK's pipeline
EvoGenix gets research funding for up to
three projects and is eligible to receive
milestone and royalty payments on resulting products (10/6)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Evotec AG
(Germany;
FSE:EVT)
Boehringer
Ingelheim GmbH
(Germany)
Evotec will work to identify
promising hit molecules from
each company’s compound
library
The fee-for-services deal expands the
scope of an existing collaboration; BI will
develop any resulting compounds (1 1/3)
Exelixis Inc.
(EXEL)
Wyeth
Wyeth got rights to compounds
targeting the farnesoid X
receptor, a nuclear hormone
receptor implicated in certain
metabolic and liver disorders
Exelixis gets $10M up front and up to
$147.5M in development and commercialization milestone payments, as well as royalties on any sales (12/22)
Exelixis Inc.
(EXEL)
Bristol-Myers
Squibb Co.
Collaboration to develop
therapies targeted against
the liver X receptor, which is
implicated in cardiovascular
and metabolic disorders
Exelixis gets $17.5M up front and could get
development and regulatory milestones of
$140M per product for up to two products;
it also could get sales milestones and royalties on resulting sales (12/6)
ExonHit
Therapeutics
SA* (France)
BioMerieux SA
(France)
They extended for six years
a deal to develop blood
diagnostics in the area of
early cancer detection
ExonHit gets R&D funding for each cancer
studied; there will be at least five research
programs; ExonHit also is entitled to milestone and royalty payments on resulting
products (10/13)
Genaissance
Sankyo Co. Ltd.
Pharmaceuticals (Japan)
Inc. (GNSC)
Genaissance will apply its HAP
Technology to discover
genetic markers of drug
response for Sankyo
Genaissance will receive license and other
fees from Sankyo and has certain rights to
share ownership of companion genetic
tests (10/3)
Genedata AG
(Switzerland)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Multiyear expansion of their
deal now includes all Roche
high-throughput screening
facilities in North America and
Europe
Roche will use Genedata Screener technology to estimate biological potency of compounds; terms were not disclosed (12/19)
Gene Logic
Inc. (GLGC)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Deal to reposition and develop
multiple Roche drug candidates
for which development had
ended in Phase II or III trials
Gene Logic can earn milestone and royalty
payments on each candidate returned to
clinical development; it also could license
candidates not pursued by Roche (12/8)
Genesis
Harlan
Bioventures
Bioproducts for
Inc. (OTC BB:GBIW) Science Inc.
Harlan will help develop
monoclonal antibodies for
use in the Mammastatin
Serum Assay
Harlan will work with Genesis subsidiary
Biomedical Diagnostics LLC in the effort;
terms were not disclosed (1 1/22)
Gen-Probe
Inc. (GPRO)
BioMerieux exercised a second
option to develop diagnostic
products using Gen-Probe’s
ribosomal RNA technologies
The diagnostic focus was not disclosed;
Gen-Probe gets a $2.1M license fee and
would get royalties on resulting sales
(12/22)
232
BioMerieux
SA (France)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
GlycoFi Inc.*
Merck & Co. Inc.
Deal to apply GlycoFi’s
platform to produce and
optimize a range of Merck’s
biologic drug candidates
GlycoFi gets an up-front cash payment and
equity investment, research funding and
potential milestone and royalty payments
(12/12)
GlycoFi Inc.*
Eli Lilly and Co.
Collaboration to discover
and develop antibodies and
other therapeutic proteins
using GlycoFi's protein
optimization technology
They will initiate 10 protein optimization
programs over the extendable two-year
research term; GlycoFi gets an up-front payment, an equity investment and is entitled
to milestone and royalty payments on
resulting products (10/03)
GTC
Biotherapeutics
Inc. (GTCB)
LEO Pharma
A/S (Denmark)
LEO got rights to GTC’s
recombinant form of human
antithrombin, ATryn, in Europe,
the Middle East and Canada
GTC gets $2M up front and is entitled to
milestone payments of up to $71M, as well
as royalties on any resulting sales (1 1/1)
GW
Almirall
Pharmaceuticals Prodesfarma
plc (UK; LSE:GWP) SA (Spain)
Almirall got rights to market
Sativex in Europe (excluding
the UK)
GW gets £12M (US$21M) up front and up to
£34M in milestone payments; the drug is
in Phase III trials in three indications (12/12)
HistoRx Inc.*
Collaboration to apply the
HistoRx AQUA platform for
quantitative pathology analysis
The goal is to develop proteomic information to elucidate pathway data; terms of the
deal were not disclosed (10/13)
Iconix
Eli Lilly and Co.
Pharmaceuticals
Inc.*
Lilly gained access to
Iconix's chemogenomics
technology
Lilly will use the technology to prioritize
and select drug candidates and to improve
understanding of new compounds; terms
of the deal were not disclosed (1 1/17)
Incyte Corp.
(INCY)
Pfizer Inc.
Pfizer got exclusive rights
to Incyte’s CCR2 antagonist
compounds, the most
advanced of which is in
Phase IIa trials
Incyte gets $40M up front, research funding and will get $20M from the sale of
interest-free convertible notes to Pfizer; it
also could earn up to $743M in milestones,
and royalties on sales; Incyte retains rights
in multiple sclerosis and one undisclosed
indication (1 1/21)
InforSense
Ltd.* (UK)
AstraZeneca plc
(UK)
AstraZeneca got rights to
InforSense technology through
a new multiyear licensing deal
AstraZeneca has been using the InforSense
integrative analytics platforms since 2001;
terms of the expanded deal were not disclosed (12/15)
Inpharmatica
Ltd.* (UK)
Schering AG
(Germany)
Collaboration to prioritize
proteins as drug targets
Schering got rights to use Inpharmatica’s
Biopendium and Chematica technologies;
terms were not disclosed (10/17)
Eli Lilly and Co.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
InterMune
Inc. (ITMN)
Valeant
Pharmaceuticals
International Inc.
Valeant acquired U.S. and
Canadian rights to the
approved hepatitis C drug
Infergen
InterMune gets an up-front cash payment
of $1 13.5M, about $2M in 2007, and up to
$20M in milestone payments (1 1/28)
Introgen
Therapeutics
Inc. (INGN)
Colgate-Palmolive
Co.
Deal to develop products to
help prevent precancerous
conditions of the oral cavity
and oral cancer
Introgen will focus on oral formulations of
some of its therapeutics that use tumor
suppressors; Colgate purchased $20M in
Introgen stock for priority rights; further
terms were not disclosed (1 1/7)
Invitrogen
Corp. (IVGN)
Procter & Gamble
Pharmaceuticals
Inc.
They extended an RNAi
research service agreement
through 2006
Invitrogen is using its technologies to help
P&G’s target identification and validation
programs; terms were not disclosed (1 1/1)
Jerini AG
(Germany; FSE:JI4)
Kos
Pharmaceuticals
Inc.
Deal for the development
and marketing in North
America of Jerini’s Icatibant
for hereditary angioedema
and other diseases
Jerini gets $15M up front and a $12M equity
investment; it also is entitled to milestone
payments and royalties on any resulting
sales (1 1/7)
Labopharm
Inc. (Canada;
TSE:DDS)
Recordati SpA
(Italy)
Recordati got exclusive rights
to market Labopharm’s
once-daily tramadol product
in the UK
They anticipate launching the analgesic in
the UK in 2006; Labopharm is entitled to an
up-front payment, milestone payments and
royalties on sales (1 1/16)
LifeSpan
BioSciences
Inc.*
Pfizer Inc.
Pfizer gained access to all
features of LifeSpan’s
DrugTarget Database
As part of the deal, Pfizer will nominate at
least 60 new targets to be studied by
immunohistochemistry and published in
the consortium database (12/21)
Maxygen Inc.
(MAXY)
Hoffmann-La
Roche Inc.
Deal to develop Maxygen’s
recombinant factor VIIa
products for multiple
indications
They will share R&D costs; Maxygen
retained certain commercialization rights;
Maxygen could receive $95M in the deal,
plus royalties on sales (12/15)
MediGene
AG (Germany;
FSE:MDG)
Glaxo Group
Ltd. (UK)
Glaxo got nonexclusive
rights to technology resulting
from MediGene’s program to
develop a cancer vaccine
MediGene gets an undisclosed one-time
payment in the deal; specific technology
details were not disclosed (12/19)
MedImmune
Inc. (MEDI)
BioWa Inc. (unit of
Kyowa Hakko
Kogyo Co. Ltd.;
Japan)
MedImmune got rights to
use Potelligent technology
for enhancing antibodydependent cellular cytotoxicity
BioWa gets technology access fees, and
could receive milestone payments and royalties on resulting products (12/7)
Deal to discover and develop
drugs derived from natural
products chemistry
MerLion will identify chemical seeds from
targets provide by Astellas; MerLion would
be entitled to milestone and royalty payments on resulting compounds (10/4)
MerLion
Astellas
Pharmaceuticals Pharma Inc.
Pte. Ltd.
(Japan)
(Singapore)
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Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Monogram
Biosciences
Inc. (MGRM)
Merck KGaA
(Germany)
Monogram will perform
colorectal cancer biomarker
studies for Merck
The goal is to identify patients who most
likely would benefit from Erbitux treatment; Monogram, formerly ViroLogic Inc.,
will receive undisclosed payments (10/24)
MorphoSys
AG (Germany;
FSE:MOR)
Merck & Co. Inc.
Merck got rights to use
HuCAL GOLD and AutoCAL
technologies for antibody
development
MorphoSys gets an up-front payment,
annual user fees and R&D funding under
the five-year license; it also could get
license, milestone and royalty payments on
resulting products (12/14)
MorphoSys
AG (Germany;
FSE:MOR)
Bayer
Pharmaceuticals
Corp.
Bayer gained access to the
HuCAL GOLD antibody library
under a five-year extension
of their collaboration
At least three new antibody development
programs will be started in 2006, and up to
25 in all if the deal runs its full course;
MorphoSys gets user fees, R&D funding
and potential license, milestone and royalty
payments (12/8)
MorphoSys
AG (Germany;
FSE:MOR)
Schering AG
(Germany)
They added three programs
to existing collaboration, and
Schering got eight licenses
for in vivo diagnostic
applications
The three added programs cover antibody
development; MorphoSys is entitled to
license payments (10/10)
Myriad
Genetics Inc.
(MYGN)
Abbott
Laboratories
They extended a collaboration
in pharmacogenetics
Abbott is funding work to identify genetic
variation around drug targets in various
stages of development (1 1/22)
Neose
Technologies
Inc. (NTEC)
Novo Nordisk
A/S (Denmark)
They expanded 2003 deal
under which Novo is using
Neose’s GlycoPEGylation
technology
Novo is developing a next-generation version of a protein it markets; Neose is
entitled to further R&D funding and an
increased milestone potential (12/15)
Nephrogen
LLC*
Gambro AB
(Sweden)
Collaboration focused on
restoring kidney function
using adult stem cells
They initially will target acute renal failure
in the three-year deal; terms were not
disclosed (10/24)
Neurome Inc.*
Wyeth
They expanded deal focused
on drug discovery for
neurodegenerative diseases
Neurome now will evaluate drug candidates as part of intervention studies in an
animal model; terms were not disclosed
(1 1/21)
NexMed Inc.
(NEXM)
Undisclosed
Japanese
company
Agreement to develop a new
fentanyl patch product for
treating severe chronic pain
NexMed got $0.1M up front and could get
milestone payments; it retains certain
commercialization rights (1 1/3)
NicOx SA
(France;
Eurolist:NICOX)
Pfizer Inc.
Pfizer exercised its option
to acquire exclusive rights
to nitric oxide-donating
compounds in ophthalmology
NicOx received €2M, and potentially could
receive €33M more, as well as royalties on
any sales (1 1/22)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
235
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
NicOx SA
(France;
Eurolist:NICOX)
Pharma Co.
(Country)
Term/Details (Date)
They extended August 2003
deal to evaluate NicOx nitric
oxide-donating compounds
in an undisclosed indication
The deal also was broadened to an additional compound class; NicOx gets an
undisclosed payment in connection with
the deal’s extension (1 1/2)
Novation
Novartis AG
Pharmaceuticals (Switzerland)
Inc.* (Canada)
Deal for the discovery of
oral RNA-directed therapeutics
Novation is providing use of its Quest
assays in the deal; terms were not disclosed
(1 1/23)
Novavax
Inc. (NVAX)
Esprit Pharma
Inc.
Esprit is getting rights to
market Estrasorb (estradiol
topical emulsion) in North
America
Novavax will get $12.5M within one year, as
well as royalties on sales and milestone
payments if certain sales levels are reached
(10/18)
OncoMethylome
Sciences SA*
(Belgium)
Schering-Plough
Corp.
Schering-Plough got rights
to use assay technology that
measures the methylation
status of the MGMT gene
The goal is to optimize Temodar therapy in
treating patients with glioblastoma multiforme; OncoMethylome is entitled to an upfront fee, milestone payments and sample
processing fees (1 1/16)
OncoTherapy
Science Inc.*
(Japan)
BioWa Inc.
(subsidiary of
Kyowa Hakko Kogyo
Co Ltd.; Japan)
Collaboration to identify and
develop cancer-focused
monoclonal antibodies
They will carry out R&D collaboratively and
would share any resulting profits (10/24)
OSI
Undisclosed
Pharmaceuticals British company
Inc. (OSIP)
The unnamed firm got
nonexclusive rights from OSI’s
UK subsidiary relating to
dipeptidyl peptidase IV
patents
The patents cover the use of DPIV inhibitors for treating Type II diabetes and related
indications; OSI is entitled to up-front, milestone and royalty payments (12/22)
Oxford
BioMedica plc
(UK; LSE:OXB)
Undisclosed
company
The unnamed company got
a license to OXB’s LentiVector
gene delivery system for
research purposes
Oxford BioMedica gets an up-front license
payment and an annual maintenance fee;
further terms were not disclosed (10/24)
Oxford
BioMedica plc
(UK; LSE:OXB)
Sigma-Aldrich
Corp.
Deal under which SigmaAldrich will commercialize
OXB’s LentiVector technology
for the reagent and research
tool market
Oxford BioMedica will receive an up-front
payment, annual minimum payments and
royalties on sales; it also will get a $5M
equity investment; Sigma-Aldrich also gets
first rights to develop products based on
OXB’s EIAV-based LentiVector technology
(10/20)
Oxford
Genome
Sciences Ltd.*
(UK)
UCB Group SA
(Belgium)
UCB licensed rights to the
Oxford Genome Anatomy
Project database
The database is used to discover and validate drug targets and biomarkers; terms of
the deal were not disclosed (10/18)
236
Merck & Co. Inc.
Type/Product Area
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Pain
Therapeutics
Inc. (PTIE)
King
Pharmaceuticals
Inc.
Deal to develop and market
PTI’s Remoxy and other
abuse-resistant opioid
painkillers
PTI gets $150M up front and up to $150M in
milestone payments; King is expected to
fund $100M of development costs; a pivotal
trial of Remoxy (long-acting oxycodone) is
expected to start in January (1 1/10)
PDL BioPharma
Inc. (PDLI)
Merck & Co. Inc.
Merck got nonexclusive rights
under PDL’s humanization
patents to develop antibodies
against two antigens
PDL is entitled to an up-front licensing payment, development milestones and royalties on any sales; the antigens were not
disclosed (12/3)
Perlegen
Sciences Inc.*
Pfizer Inc.
Four-year deal for wholegenome and replication studies
to identify genes associated
with diseases and to predict
patient responses to certain
drugs
Perlegen gets research payments; the
companies will share in certain resulting
intellectual property rights; the deal followed by one day a $50M equity investment in Perlegen by Pfizer; they have been
partners since 2002 (12/28)
Perlegen
Sciences Inc.*
Merck & Co. Inc.
Deal to perform a highdensity whole-genome
analysis of more than 1,000
individuals
Perlegen will assay genetic variations in
DNA samples provided by Merck; terms of
the deal were not disclosed (10/04)
Plureon Corp.*
Becton Dickinson
and Co.
Deal for diabetes research
and development using
Plureon's stem cell technology
BD will sponsor Plureon research for up to
three years and be responsible for further
development; further terms were not disclosed (10/14)
PPD Inc.
(PPDI)
Falco
Biosystems Ltd.
(Japan)
PPD will seek to discover
biomarkers for a renal cell
carcinoma diagnostic test
PPD will own resulting technology; Falco
will get a license to resulting technology in
certain countries; terms were not disclosed
(12/7)
Progenics
Wyeth
Pharmaceuticals
Inc. (PGNX)
Deal to develop and market
Progenics’ Phase III product
methylnaltrexone (MNTX) for
treating opioid-induced
side effects
Progenics gets $60M up front and up to
$356.5M in milestone payments, as well as
royalties on any sales; Progenics also
retained a U.S. co-promotion option (12/23)
Prolexys
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc.*
GSK got nonexclusive rights
to the Prolexys Human
Interactome Database
The database contains more than 258,000
human protein-protein interactions; terms
of the deal were not disclosed (10/3)
Protein Design
Labs Inc.
(PDLI)
Expanded deal to develop
and sell daclizumab (Zenapax)
for organ transplant patients
now covers a subcutaneous
formulation made by PDL
PDL gets $10M up front and may be eligible
for milestone payments of up to $145M; they
will share development costs; PDL has a
co-promotion option in the U.S. and would
get royalties on sales elsewhere (1 1/1)
Hoffmann-La
Roche Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
237
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Protherics plc
(UK; LSE:PTI)
AstraZeneca plc
(UK)
AstraZeneca got rights to the
sepsis product CytoFab, which
is nearing a Phase III trial
Protherics gets £1 6.3M ($29M) up front
and a £7.5M equity investment; milestone
payments could total £1 7 1M ($304);
Protherics would get royalties of 20% (12/8)
pSivida Ltd.
(Australia; PSDV)
Beijing
Med-Pharm Corp.
Beijing Med-Pharm got rights
to pSivida’s BrachySil cancer
product in China
Beijing Med-Pharm will be responsible for
development and marketing in China;
terms were not disclosed (10/26)
PTC
Therapeutics
Inc.*
Bausch & Lomb
Inc.
B&L got an option to exclusively license certain PTC
compounds for use in
ophthalmology indications
The compounds are from PTC’s anti-angiogenesis program; terms of the deal were
not disclosed (12/1)
Radius*
(formerly Nuvios)
Ipsen SA
(France)
Radius got worldwide rights
except in Japan to BA058 and
its analogues, along with rights
to formulation technologies
BA058 is an analogue of parathyroid hormone-related protein in Phase I trials for
osteoporosis; Ipsen gets up-front and
potential milestone and royalty payments
(12/13)
Regeneron
Sanofi-Aventis
Pharmaceuticals Group (France)
Inc. (REGN)
They broadened collaboration
on the VEGF Trap program to
include Japan; the deal now
is worldwide, excluding
intraocular delivery to the eye
Regeneron gets $25M up front, as well as
potential milestone and royalty payments
under the expansion (12/22)
Rubicon
Genomics Inc.*
Abbott
Laboratories
Deal to develop and market
Rubicon’s MethylPlex methylation detection technology
for diagnosis and prognosis
of cancers
Rubicon will work with Abbott Molecular in
the multiyear deal, terms of which were
not disclosed (10/31)
Saneron CCEL
Therapeutics
Inc.*
GE Healthcare
Collaboration on optimizing
GE’s Ficoll-Pacque for isolating
stem cells from cord blood
Terms of the deal were not disclosed (1 1/21)
Sareum
Holdings plc
(UK; AIM:SAR)
Schering AG
(Germany)
Sareum will use its technologies to show how drug
candidates interact with their
target protein receptors
Sareum is entitled to receive research fees
and potential milestone payments (10/27)
Scil Technology
Holding GmbH*
(Germany)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Scil acquired worldwide rights
to the growth factor MIA/CDRAP from Roche Diagnostics
Roche licensed back rights to CD-RAP for
use in research diagnostics; terms of the
deal were not disclosed (10/10)
Scolr Pharma
Inc. (AMEX:DDD)
Wyeth Consumer
Healthcare
Wyeth got rights to use Scolr’s
CDT delivery platform in an
over-the-counter formulation
Scolr gets an up-front licensing fee and
could get milestone and royalty payments
(12/22)
238
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Term/Details (Date)
Scynexis Inc.*
Teijin Pharma
Ltd. (Japan)
Scynexis will provide medicinal
and analytical chemistry
services for Teijin research
programs
Terms of the deal were not disclosed (10/13)
SkyePharma
plc (UK; SKYE)
Maruho Co. Ltd.
(Japan)
Maruho got rights to develop
and market the anesthetic
DepoBupivacaine in Japan
SkyePharma is entitled to up to $18M in upfront and milestone payments, as well as
royalties on any resulting sales (1 1/1)
Sonus
Schering AG
Pharmaceuticals (Germany)
Inc. (SNUS)
Schering got worldwide rights
to Sonus’ Tocosol Paclitaxel,
a cancer product in Phase III
trials
Schering made a $15M equity investment,
buying 3.9M shares; Sonus also got an upfront license fee of $20M and could get
regulatory milestone payments of up to
$132M, as well as sales royalties and sales
milestones (10/18)
Syntonix
Boehringer
Pharmaceuticals Ingelheim GmbH
Inc.*
(Germany)
Deal to optimize certain BI
peptides for inhalation, using
Syntonix’s SynFusion and
Transceptor technologies
Syntonix gets an up-front fee and research
support, and could get milestone and royalty payments on any resulting products; the
deal could be worth $63M (10/21)
Targacept
Inc.*
AstraZeneca
plc (UK)
Deal to develop and market
Targacept’s Phase II drug
TC-1734 for Alzheimer’s disease
and other cognitive disorders
Targacept gets $10M up front, $26M in
research funding, and $20M if AstraZeneca
starts a Phase II program; Targacept also
could earn about $244M in milestone payments and double-digit royalties on sales
(12/28)
Theravance
Inc. (THRX)
Astellas Pharma
Inc. (Japan)
Deal to develop and market
Theravance’s antibiotic
telavancin, which is in Phase
III trials
Theravance gets $65M up front and up to
$156M in clinical and regulatory milestone
payments; it would get royalty rates ranging from the high-teens to the high-20s
(1 1/7)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
Abbott
Laboratories
Nonexclusive license deal
covering certain technology
in human and pathogen
genotyping and other areas
The license covers Tm’s current and future
products in all fields of use; further details
were not disclosed (10/3)
TorreyPines
Therapeutics
Inc.*
Eisai Co. Ltd.
(Japan)
Collaboration to discover
genes responsible for lateonset Alzheimer’s disease
The deal continues Eisai’s support for the
program that began in 2001; TorreyPines
gets a signing fee and research support;
Eisai gets first negotiation rights on any
resulting gene targets (10/1 1)
TransTech
Pharma Inc.*
Boehringer
Ingelheim
GmbH (Germany)
BI got rights to develop
compounds directed at an
undisclosed target of
interest to both companies
TransTech gets an up-front payment,
research support and potential milestone
payments in a deal worth up to $54M; it
also would get royalties on sales (12/21)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
239
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Type/Product Area
Terms/Details (Date)
Vernalis plc
(UK; VNLS)
Mylan
Laboratories
Inc.
Vernalis acquired North
American rights to Apkyn,
a marketed product for
treating hypomobility
The condition is associated with Parkinson’s
disease; Vernalis paid $23M in cash for the
exclusive rights (1 1/4)
Vernalis plc
(UK; VNLS)
Britannia
Pharmaceuticals
Ltd. (UK)
Deal to develop new formulations of apomorphine in
North America for treating
Parkinson’s disease
Vernalis got rights to use Britannia technology to develop a continuous subcutaneous
infusion of apomorphine and to negotiate
a deal on a nasal powder formulation (1 1/4)
Vertex
GlaxoSmithKline
Pharmaceuticals plc (UK)
Inc. (VRTX)
GSK got rights to develop
VX-409, a sodium channel
modulator for treating pain,
and backup compounds
Vertex gets $20M up front and up to
$385M in development and sales milestone
payments, as well as royalties on any
resulting sales (12/14)
Xceleron Ltd.*
(UK)
Servier SA
(France)
Xceleron will provide
accelerator mass spectrometry
services to Servier
The AMS technology will be used to help
accelerate drug discovery and development; terms of the one-year deal were not
disclosed (12/7)
Xenogen Corp.
(XGEN)
Novartis AG
(Switzerland)
They extended for two years
deal under which Novartis
licensed Xenogen software
Novartis will continue to use the Living
Image Software and methods of biophotonic imaging; the original deal was signed
in 2000 (12/7)
XenoPort Inc.
(XNPT)
Astellas Pharma
Inc. (Japan)
Astellas got rights in Japan
and elsewhere in Asia to the
Phase II CNS agent XP13512,
a prodrug of gabapentin
XenoPort gets a license payment of $25M
and could get up to $60M in milestone payments, as well as mid-teen royalty rates on
product sales in the territory (1 1/30)
YM BioSciences
Inc. (Canada;
TSE:YM)
Innogene
Kalbiotech Ltd.
(Singapore)
Innogene, a unit of PT Kalbe
Farma Tbk, got certain rights to
the EGFR-targeting monoclonal
antibody nimotuzumab
YM subsidiary CimYM gets $1M up front
and potential milestone and royalty payments; Innogene gets rights in Singapore,
Taiwan, Thailand, Indonesia, Malaysia, the
Philippines, South Africa and other markets
(1 1/17)
Znomics Inc.*
Merck & Co. Inc.
Deal to discover and characterize drug targets for metabolic
diseases
They will use Znomics’ zebrafish technology in the deal, terms of which were not
disclosed (12/5)
240
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: New Agreements (Continued)
Notes:
# The information in the chart does not cover agricultural agreements or those between biotech companies.
* Private companies are indicated with an asterisk.
Unless otherwise noted, stock symbols listed are on the Nasdaq market.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; ATX = Austrian
Stock Exchange; CDNX = Canadian Venture Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange;
NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; SWX = Swiss Stock Exchange; TSE = Toronto
Stock Exchange; VSE = Vancouver or Vienna Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
241
2005 Biotech-Big Pharma Collaborations: Modified And
Terminated Agreements
I. MODIFIED AGREEMENTS
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Alliance
LEO Pharma
Pharmaceutical A/S (Denmark)
Corp. (OTC BB:ALLP)
LEO gained extra time
to decide if it will license
rights to Oxygent in
Europe and Canada
The evaluation period was extended until
six days after Alliance submits to LEO
results of a proof-of-concept study in surgery patients (3/2)
Atugen AG*
(Germany)
Altana Pharma
AG (Germany)
They renewed nonexclusive
target validation and license
agreement for another year
Atugen validates molecular targets, and
Altana gets a license to use Atugen’s gene
silencing and oligonucleotide delivery technologies (2/16)
BioTie
Therapies Oyj
(Finland;
HEX:BTH1V)
Sanofi-Aventis
Group (France)
They will negotiate an
extension to an option deal
for evaluation of BioTie’s
bioheparin product
The one-year deal was set to expire when
they decided to negotiate an extension;
terms were not disclosed (3/31)
ComGenex
Inc.* (Hungary)
Bayer Healthcare
AG (Germany)
The companies extended
their exclusive chemistry
collaboration for a seventh
year
ComGenex will continue to provide chemistry services to support drug discovery
at Bayer; terms were not disclosed (3/1)
Cubist
Eli Lilly and Co.
Pharmaceuticals
Inc. (CBST)
Cubist is purchasing a 2%
reduction in royalties payable
to Lilly on sales of Cubicin
Cubist paid Lilly about 1.88M shares (worth
about $20M); Cubicin had acquired rights
to the product in 1997 (3/3)
Exelixis Inc.
(EXEL)
GlaxoSmithKline
plc (UK)
They modified October 2002
deal covering development of
drugs in vascular biology,
inflammatory disease and
oncology
The amendment provides accelerated milestone payments to Exelixis and allows
third-party development and funding of
certain programs; GSK retains exclusivity
rights to 32 specified targets (1/10)
Halozyme
Therapeutics
Inc. (AMEX:HTI)
Baxter
Healthcare Corp.
They expanded relationship
by signing a development
and supply agreement for
Halozyme’s Enhanze SC
The product, a recombinant human hyaluronidase enzyme, was the subject of an
August 2004 partership for selling the
product in the U.S. (3/30)
Immunicon
Corp. (IMMC)
Veridex LLC
(unit of Johnson
& Johnson)
Amended 2000 deal changes
the triggering events for
milestone payments to
Immunicon
They are working on two cancer programs;
the milestone totals remained the same
(2/3)
FIRST QUARTER
242
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Ligand
Eli Lilly and Co.
Pharmaceuticals
Inc. (LGND)
Ligand exercised its first
option to buy down a portion
of royalties payable to Lilly on
U.S. sales of Ontak
Ligand paid $20M in exchange for elimination of royalties due on sales in 2005 and a
reduced reverse-tiered royalty scale on
later sales above a certain threshold (1/7)
MedImmune
Inc. (MEDI)
GlaxoSmithKline
plc (UK)
MedImmune may receive milestone and royalty payments
under revised terms on a deal
related to a human papillomavirus vaccine that Merck & Co.
Inc. has in Phase III development
MedImmune also may get milestones and
royalties from an HPV vaccine it co-developed with GSK; GSK had granted Merck
certain HPV rights under a 1997 deal with
MedImmune (2/2)
Metabasis
Therapeutics
Inc.*
Merck & Co. Inc.
They extended and
expanded a December 2003
collaboration in hepatitis C
Merck will continue to fund through
December 2005 Metabasis’ efforts to apply
its technologies to Pfizer preclinical candidates (1/25)
MorphoSys
AG (Germany;
FSE:MOR)
Bristol-Myers
Squibb Co.
BMS gained further access to
MorphoSys’ HuCAL GOLD
library for use in discovery
programs
BMS previously had a nonexclusive license
to prior versions of the HuCAL library and
the AutoCAL system; terms were not
disclosed (1/26)
Regeneron
Sanofi-Aventis
Pharmaceuticals Group (France)
Inc. (REGN)
The rights to develop VEGF
Trap for eye diseases
reverted to Regeneron
Sanofi, which is continuing development in
oncology, made a final $25M payment related to the program in eye diseases, half of
which would be repayable upon commercialization (1/10)
SkyePharma
plc (UK; SKYE)
They extended May 2004
deal on Skye’s formulation
of fenofibrate
The amendment would allow First Horizon
to launch the product in the first half of
2005, pending FDA approval; details were
not disclosed (2/1)
Sunesis
Johnson & Johnson
Pharmaceuticals Pharmaceutical
Inc.*
Research &
Development LLC
They extended through 2005
their collaboration on smallmolecule enzyme inhibitors
targeting Cathepsin S
Sunesis gets research funding and potential milestone and royalty payments under
the deal, originally signed in May 2002
(1/10)
Vicuron
Pfizer Inc.
Pharmaceuticals
Inc. (MICU)
March 1999 collaboration to
develop next-generation
oxazolidinones was
extended for another year
The goal is to develop oral antibiotics;
terms of the extension were not disclosed
(3/30)
They extended chemistry
agreement signed in May
2004 for another year
Evotec is supporting medicinal chemistry
programs at Roche under undisclosed
terms (4/13)
First Horizon
Pharmaceutical
Corp.
SECOND QUARTER
Evotec OAI
AG (Germany;
FSE:EVT)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
243
2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Gen-Probe
Inc. (GPRO)
Bayer
HealthCare LLC
Tentative arbitration ruling
said Gen-Probe is entitled to
coexclusive rights to distribute
qualitative TMA assays to detect
the hepatitis C virus and HIV-1
Bayer previously held all rights; the arbitrator also determined the collaboration
should be terminated, which would give
Gen-Probe the right to develop and market
certain viral assays (4/5)
Gene Logic
Inc. (GLGC)
Daiichi
Pharmaceutical
Co. Ltd. (Japan)
Daiichi continued its
subscription to the
BioExpress System
The focus of the multiyear subscription is
primarily for discovery research; terms of
the deal were not disclosed (6/7)
Gene Logic
Inc. (GLGC)
Takeda
Pharmaceutical
Co. Ltd. (Japan)
Takeda extended its
subscription to the
BioExpress System
Takeda extended access through 2006
for use in drug discovery and development;
terms of the deal were not disclosed (6/7)
Gilead
Sciences Inc.
(GILD)
Hoffmann-La
Roche Inc.
Gilead is seeking to terminate
a 1996 agreement on the
influenza product Tamiflu
Gilead is alleging material breach of the
agreement, and wants to regain all rights
to the product held by Roche (6/23)
GW
Bayer HealthCare
Pharmaceuticals AG (Germany)
plc (UK; LSE:GWP)
They amended marketing
deal on Sativex in the UK and
Canada, after the product was
approved in Canada first
Some details were changed, but milestone
payments of £32.75M due to GW remain
unchanged (5/1 1)
Indevus
Pliva d.d.
Pharmaceuticals (Croatia)
Inc. (IDEV)
Saturn Pharmaceuticals Inc.
acquired rights to market
Sanctura from Odyssey
Pharmaceuticals Inc.
Odyssey, a Pliva subsidiary, had acquired
rights in April 2004; Indevus gets enhanced
economic terms under the amended deal
(5/16)
Ligand
Eli Lilly and Co.
Pharmaceuticals
Inc. (LGND)
Ligand exercised its final
option to buy down a further
portion of royalties due Lilly
on U.S. sales of Ontak
Ligand will pay Lilly $13M in exchange for
elimination of royalties due on sales in the
U.S. in 2006, and a reduced, reverse-tiered
royalty scale on sales of the cancer drug
thereafter (4/7)
Oscient
LG Life
Pharmaceuticals Sciences Ltd.
Corp. (OSCI)
(South Korea)
Amended agreement includes
a reduction of future royalties
payable to LG for Factive sales
at certain levels
Oscient will make a $2M payment to LG; the
modified deal also calls for an $8M increase
in milestone payments to LG at certain
sales thresholds (4/6)
Peakdale
Molecular Ltd.*
(UK)
GlaxoSmithKline
plc (UK)
Peakdale will provide chemistry
services to GSK through 2005
under an extension of an
existing agreement
Peakdale chemists have worked with GSK
since 2002; terms of the deal were not
disclosed (4/24)
Qiagen Nv
(the Netherlands;
QGEN)
Abbott
Laboratories
Abbott got distribution rights
to a number of PCR diagnostic
tests under an extension to
an existing deal
Abbott has nonexclusive distribution rights
to certain Qiagen products; the PCR assays
were developed by Artus GmbH, which
Qiagen acquired (6/22)
244
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2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
SkyePharma
plc (UK; SKYE)
GlaxoSmithKline
plc (UK)
They amended their deal
concerning royalties on
Paxil CR
SkyePharma gets a one-time payment of
$10M, and an increase in its royalty rate
from 3% to 4%; GSK has been unable to supply Paxil CR in the U.S. since March 4, 2005,
due to manufacturing issues (4/28)
THIRD QUARTER
Cytokinetics
Inc. (CYTK)
GlaxoSmithKline
plc (UK)
Amended agreement provides
Cytokinetics an expanded role
in development of SB-743921
Cytokinetics will lead and fund development in cerain hematological cancers and
is entitled to additional milestone payments; GSK has an option to take over
responsibility in those indications (9/27)
DOV
Pharmaceutical
Inc. (DOVP)
Merck & Co. Inc.
They amended 2004 deal
covering clinical development
of DOV 21,947 and DOV
216,303, following early trial
data on 21,947
Certain early stage clinical trials for DOV
21,947 now will be undertaken by DOV;
DOV would be reimbursed if Phase II
results of the depression candidate are
successful (8/8)
Epigenomics
AG (Germany;
FSE:ECX)
Roche
Diagnostics
They extended a deal
covering the development of
five cancer diagnostic tests
The R&D part of the collaboration was
extended at least six months with the
option to expand the deal; terms were not
disclosed (9/30)
Imcor
GE Healthcare
Pharmaceutical (UK)
Co. (PK:ICPH) and
Alliance
Pharmaceutical
Corp. (OTC BB:ALLP)
They resolved disputed
patent claims covering
ultrasound contrast
agents
GE Healthcare will pay $1M to Imcor and
$200,000 to Alliance in license fees; all
parties granted the others nonexclusive,
royalty-free cross-licenses with the right to
sublicense their respective ultrasound
contrast agents (9/22)
Karo Bio AB
(Sweden; SSE:
KARO)
Wyeth
Pharmaceuticals
They extended a deal signed
in 2001 for an additional
year
They are working on new treatments for
atherosclerosis by targeting the liver X
receptor; terms were not disclosed (8/15)
MedImmune
Inc. (MEDI)
Abbott
Laboratories
They amended U.S.
co-promotion agreement on
Synagis, a product for treating
respiratory syncytial virus
MedImmune will take full responsibility for
product sales in the U.S. after June 2006;
Abbott is entitled to a portion of sales and
potential milestone payments (8/31)
Memory
Hoffmann-La
Pharmaceuticals Roche Inc.
Corp. (MEMY)
Memory reacquired the rights
to the PDE4 inhibitors MEM
1414 and MEM 1917, which
Roche stopped developing for
Alzheimer’s disease in April
Roche has an option to continue development of the drugs after Phase II trials;
Roche also maintains exclusive rights to all
other drug candidates from Memory’s
PDE4 inhibitor program (8/18)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
245
2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Prima Biomed
Ltd. (Australia;
ASX:PRR)
AstraZeneca
plc (UK)
They extended research deal
on Fc receptor technology
until June 30
The deal from October 2004 was made
with Prima Biomed subsidiary Arthron Pty.
Ltd.; AstraZeneca retains an option to
license the technology (9/27)
Senetek plc
(OTC BB:SNTKY)
Valeant
Pharmaceuticals
International
Valeant got expanded distribution rights for Kinetin and
exclusive worldwide rights
to Zeatin
Senetek will get minimum royalty payments of $37M through 2010 for the skincare product Kinetin (Kinerase), plus potential additional royalties (8/9)
FOURTH QUARTER
Actelion Ltd.
(Switzerland;
SWX:ATLN)
UCB Pharma
(Belgium)
They replaced existing
license deal covering the
Gaucher’s disease product
Zavesca
Actelion assumes full responsibility for the
pre-UCB obligations on manufacturing and
supply, and clinical development; UCB gets
an up-front payment in return for a singledigit royalty rate on future sales (1 1/17)
Cambridge
Antibody
Technology
plc (UK; CATG)
Abbott
Laboratories
They reached an agreement
regarding royalties payable to
CAT under a licence agreement
covering Humira
CAT gets $255M, which it will pay to its
licensors; it also gets five annual payments
of up $9.375M; CAT’s royalty payments
were reduced to 2.688% of sales from 5.1%
(10/26)
Cephalon Inc.
(CEPH)
Ranbaxy
Laboratories
Ltd. (India)
They settled patent infringement dispute in the U.S.
related to Provigil (modafinil)
Ranbaxy got a nonexclusive, royalty-bearing right to market a generic version of the
product starting in 201 1; they also entered
a series of business arrangements related
to modafinil (12/22)
Cephalon Inc.
(CEPH)
Teva
Pharmaceutical
Industries Ltd.
(Israel)
They settled patent infringement disputes in the U.S. and
UK related to Provigil
(modafinil)
Teva got a nonexclusive, royalty-bearing
right to market a generic version of the
product starting in 201 1; they also entered
a series of business arrangements related
to modafinil (12/9)
CuraGen
Corp. (CRGN)
Bayer
Pharmaceuticals
Corp.
They revised terms of
deal in metabolic disorders
relating to development of
BAY 76-7171 (formerly CT052)
CuraGen exercised its right to revert to a
tiered royalty structure on any sales and
no longer will contribute to development
costs of the drug (12/20)
Depomed
Inc. (DEPO)
Biovail Corp.
(Canada)
They resolved a dispute
regarding a license agreement
on the metformin-based
diabetes product Glumetza
Under the new deal, Depomed has rights to
the product in the U.S.; Biovail relinquished
its option to develop metformin combination products; Depomed withdrew legal
action following the agreement (12/13)
246
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Enzon
Sanofi-Aventis
Pharmaceuticals Group (France)
Inc. (ENZN)
They amended license
agreement covering the
leukemia drug Oncospar
Enzon will pay a single-digit royalty rate
on annual sales that exceed $25M; it had
been paying 25% on all sales; Sanofi gets an
up-front cash payment of $35M (10/31)
Genetic
Technologies
Ltd. (Australia;
GENE)
Applera Corp.
The companies settled
a patent dispute initiated
by Gene Technologies in
2003
Terms were not disclosed but do include a
license to the non-coding patents from
Genetic Technologies (12/12)
Gilead
Sciences Inc.
(GILD)
F. HoffmannLa Roche Ltd.
(Switzerland)
They resolved a dispute
related to their 1996 deal
covering the influenza drug
Tamiflu
Gilead gets $62.5M in adjusted royalties,
and will get sales royalties from 14% to 22%;
Gilead also gets certain co-promotion
options in the U.S.; the deal ends arbitration
proceedings (1 1/16)
Progenics
UR Labs Inc.
Pharmaceuticals
Inc. (PGNX)
Progenics acquired a substantial portion of the royalty
and milestone rights to
methylnaltrexone (MNTX)
Progenics initially licensed rights to the
drug from UR Labs in 2001; UR Labs received
686,000 Progenics shares and $2.6M in
cash (12/23)
Savient
Barr
Pharmaceuticals Pharmaceuticals
Inc. (SVNTE)
Inc. and NV Organon
(the Netherlands)
They settled patent litigation
regarding Barr’s generic
version of Mircette, an oral
contraceptive product
Barr paid Savient $13.75M, of which about
$2.8M will be passed on to the inventor
(12/2)
II. TERMINATED AGREEMENTS
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Advancis
Pharmaceutical
Corp. (AVNC)
Par
Pharmaceutical
Corp.
Par terminated a deal covering
Advancis’ Amoxicillin
Pulsys product
The move followed a failed trial in strep
throat; Par may be entitled to a portion of
some future revenues (8/4)
Aphton Corp.
(APHT)
Sanofi Pasteur
(France)
They ended a deal from 1997
to develop Aphton’s immunotherapy compound Insegia
Aphton regained rights to the G1 7DT
immunogen, which is being developed for
cancers, and intends to find a new partner (1 1/9)
Arqule Inc.
(ARQL)
Pfizer Inc.
Pfizer is ending deal under
which Arqule has been
producing synthetic chemical
compounds for Pfizer
The deal, started in 2001, will end May 22,
2006; Arqule expects to receive $19.8M in
connection with the termination notification (12/6)
They ended December 2003
collaboration using molecular
cytogenetics to identify and
validate oncology targets
The agreement expired as a result of
Sanofi’s decision not to advance targets
from the collaboration (12/21)
Avalon
Sanofi-Aventis
Pharmaceuticals Group (France)
Inc. (AVRX)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
247
2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
Biopure Inc.
(BPUR)
Tshepo
Pharmaceuticals
Ltd.
They formally terminated
deal under which Tshepo held
South African rights for the
oxygen therapeutic Hemopure
Biopure appointed an interim registration
holder and a marketing agent, and seeks to
register itself as a pharmaceutical marketing company in South Africa so it can
hold the product registration (2/1)
BioTie
Therapies Oyj
(Finland; HSE:
BTH1V)
Sanofi-Aventis
Group (France)
Sanofi did not renew option
agreement in deal to develop
a oral heparin-like product
BioTie plans to continue the recombinant
heparin program with a new development
partner (10/17)
Cellegy
PDI Inc.
Pharmaceuticals
Inc. (CLGY)
Settlement of legal disputes
over Cellegy’s Fortigel
(testosterone gel) returned
all rights to Cellegy
Cellegy paid PDI $2M, issued a promissory
note payable in 18 months, and issued to
PDI a $3.5M convertible debenture due in
three years (4/1 1)
Discovery
Partners
International
Inc. (DPII)
Pfizer Inc.
The companies terminated
discussions regarding a
potential new deal to replace
existing one about to expire
Discovery has received about $92M from
the chemistry deal from 2002 to 2005;
Discovery will reduce its combinatorial
chemistry operations as a result (1 1/29)
Dynavax
Technologies
Corp. (DVAX)
UCB Farchim
SA (Switzerland)
They ended their collaboration
on seasonal allergy products
that began in February 2004
UCB will return all rights to the program to
Dynavax, which plans to complete an
ongoing Phase II/III trial of its AIC immunotherapy for ragweed allergy (3/18)
Flamel
Technologies
SA (France;
FLML)
TAP
Pharmaceutical
Products Inc.
TAP terminated a deal to use
Flamel’s Micropump technology
in the delivery of lansoprazole
The compound is the active ingredient in
TAP’s Prevacid; TAP intends to move forward with a different formulation (9/5)
Flamel
Technologies
SA (France; FLML)
Biovail
Laboratories
Inc. (Canada)
Flamel terminated the license
deal covering its long-acting
acyclovir formulation, Genvir
Biovail did not start trials in the time period
called for under their February 2003 deal;
Flamel intends to find another partner (3/3)
Flamel
Technologies
SA (France; FLML)
Bristol-Myers
Squibb Co.
They resolved all matters
related to termination of an
August 2003 license agreement
covering Flamel’s Basulin
Flamel will get a cash payment and a clear
title to certain data from the relationship on
the insulin formulation; the deal was ended
in September 2004 (1/31)
Genta Inc.
(GNTA)
Sanofi-Aventis
Group (France)
They formally terminated
their deal to develop Genta’s
cancer drug Genasense
Sanofi provided notice of the termination in
November 2004; there are no further
financial obligations between them (5/10)
BI ended an agreement on
the HIV product MIV-310
(alovudine)
The move followed a Phase II trial that did
not meet targeted efficacy levels; Medivir is
not planning further development (3/15)
Medivir AB
Boehringer
(Sweden; SSE:MVIR) Ingelheim GmbH
(Germany)
248
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Big Pharma Collaborations: Modified And Terminated Agreements (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Change from original
agreement
Terms/Details (Date)
NeoPharm Inc.
(NEOL)
Akorn Inc.
They ended a deal under
which NeoPharm had access
to manufacturing capacity
at an Akorn facility
The deal granting capacity to NeoPharm
was signed in 2002; NeoPharm already
made arrangements for its manufacturing
needs (5/16)
NitroMed Inc.
(NTMD)
Boston
Scientific Corp.
A research program on
nitric oxide-enhancing
technology came to a close
Dec. 31
The technology was being studied with
restenosis in balloon angioplasty; NitroMed
intends to continue to explore using the
technology in medical devices (12/29)
Phytopharm
plc (UK; LSE:PYM)
Yamanouchi
Pharmaceutical
Co. Ltd. (Japan)
Yamanouchi terminated deal
covering Phytopharm’s Cogane,
a product being developed for
Alzheimer’s disease
Yamanouchi’s license covered Japan and
some other Asian countries (3/29)
Schering exercised its right to
terminate agreement covering
Praecis’ Plenaxis product
Schering cited the product not having
received marketing authorization in
Germany with a requisite label by June 30
as reason for ending the deal (9/28)
Praecis
Schering AG
Pharmaceuticals (Germany)
Inc. (PRCS)
Notes:
# The information in the chart does not cover agreements between biotech companies or agricultural agreements.
* Private companies are indicated with an asterisk.
Unless otherwise noted, stock symbols listed are on the Nasdaq market.
AMEX = American Stock Exchange; ASX = Australian Stock Exchange; FSE = Frankfurt Stock Exchange; HSE = Helsinki Stock
Exchange; LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SSE = Stockholm
Stock Exchange; SWX = Swiss Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
249
2005 Manufacturing, Marketing And Distribution Agreements
Between Biotechnology And Pharmaceutical Companies
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
Adolor will co-promote GSK’s
anti-thrombotic agent Arixtra
in the U.S.
Adolor is hiring a 30-person sales force and
will receive undisclosed cost reimbursement for its promotional efforts (1/3)
Alnylam
Dowpharma
Pharmaceuticals (unit of The Dow
Inc. (ALNY)
Chemical Co.)
Deal for the manufacture
and supply of Alnylam
candidate RNAi therapeutics
Dowpharma will manufacture siRNAs for
use in clinical trials in age-related macular
degeneration and respiratory syncytial
virus infection (3/29)
Ambion Inc.*
Wyeth
Deal to continue alliance
for development and supply
of cGMP-grade RNA that will
be incorporated in Wyeth’s
vaccine program
Ambion division Ambion Diagnostics will
manufacture RNA transcripts and supply
the material for Phase I/II trials (3/8)
Antisoma plc
(UK; LSE:ASM)
Raylo Chemicals
(Canada)
Deal for the manufacture of
Antisoma’s AS141 1 (formerly
AGRO100)
The product is an anticancer aptamer;
terms of the deal were not disclosed
(3/14)
Arexis AB*
(Sweden)
CMC Biopharmaceuticals (Denmark)
Deal for the production of
Arexis’ recombinant human
BSSL product for upcoming
clinical trials
The bile salt-stimulated lipase will be tested for cystic fibrosis and preterm infants;
terms of the deal were not disclosed (3/7)
Biosignal Ltd.
(Australia;
ASX:BOS)
Dr. Reddy’s
Laboratories
(India)
Reddy’s Laboratories will
develop a large-scale
manufacturing procedure for
Biosignal compounds
The compounds are antibacterial furanones; terms of the deal were not disclosed
(1/20)
Cellegy
PT Kalbe Farma
Pharmaceuticals (Indonesia)
Inc. (CLGY)
PT Kalbe got rights to
distribute Tostrex
(testosterone gel) in
parts of the Far East
PT Kalbe got exclusive distribution rights in
1 1 countries, including Indonesia and
Thailand; terms of the deal were not disclosed (3/9)
Chromos
Molecular
Systems Inc.
(Canada; TSE:CHR)
AppTec
Laboratory
Services Inc.
Alliance to provide a range
of cell line engineering and
contract manufacturing
services
They will coordinate marketing efforts
under a nonexclusive arrangement; terms
were not disclosed (2/16)
Cytomedix Inc.
(OTC BB:CYME)
KOL Bio-Medical
Instruments Inc.
KOL will represent the
company in certain
East Coast areas
The six-month deal relates to Cytomedix’s
AutoloGel therapy; the commission-fee
deal could be renewed (3/14)
FIRST QUARTER
Adolor Corp.
(ADLR)
250
GlaxoSmithKline
plc (UK)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
DOR
BioPharma
Inc. (AMEX:DOR)
Cambrex Corp.
Deal for process development
and potential large-scale
production of DOR’s RiVax
ricin vaccine
Cambrex will provide process development
and cGMP production services for RiVax;
terms were not disclosed (1/7)
Evolutec
Group plc* (UK)
Cambrex Bio
Science Baltimore
Inc.
Cambrex will manufacture
Evolutec’s rEV131 for Phase III
trials and marketing
The product is in Phase II trials in allergic
rhinitis and postoperative treatment following cataract surgery; terms were not
disclosed (2/28)
GeneExcel
Inc.*
ITX International
Holdings Inc.
ITX licensed liposome drug
delivery technology for
entrance into Japan markets
ITX invested $700,000 in GeneExcel’s
Series A financing; further terms were not
disclosed (3/15)
Gen-Probe
Inc. (GPRO)
F. Hoffmann-La
Roche Ltd.
(Switzerland)
Gen-Probe will purchase
products for use in molecular
diagnostic assays for human
papillomavirus
Roche will manufacture DNA probes for
HPV, which Gen-Probe will purchase at
agreed-upon transfer prices (2/15)
Helix
BioMedix Inc.
(OTC BB:HXBM)
American Global
Health Group
LLC
Deal for inclusion of Helix
peptide technology in AGHG
skin care products
The products are being developed for the
Asian market; Helix is entitled to royalties
on any resulting sales (2/22)
ICOS Corp.
(ICOS)
Solvay
Pharmaceuticals
Inc.
Co-promotion agreement for
AndroGel (testosterone gel),
which is approved in the U.S.
ICOS will provide promotional support
through physician details and other activities and be paid a fee per detail, as well as
fees based on specified sales goals (1/31)
Nymox
Pharmaceutical
Corp. (NYMX)
Alifax SpA
(Italy)
Deal for the marketing and
sales of Nymox’s AlzheimAlert
product in Italy
Alifax will distribute the Alzheimer’s disease diagnostic in Italy under undisclosed
terms (2/16)
Pharming
Group NV
(the Netherlands;
Euronext:PHARM)
Diosynth BV
(the Netherlands;
unit of Akzo Nobel)
Supply agreement for the
production of Pharming’s
recombinant human C1
inhibitor
The product is being developed for hereditary angioedema; terms of the deal were
not disclosed (2/8)
Qiagen NV
(the Netherlands;
QGEN)
Roche Molecular
Systems
Roche will market Qiagen’s
media sample preparation kits
under its AmpliLute trademark
Terms of the deal were not disclosed (2/9)
Repligen
Corp. (RGEN)
GE Healthcare
They amended 1999 supply
agreement covering the
manufacture of GE’s
recombinant Protein A
The agreement was extended through
2010 and expanded to include an additional GE protein (2/8)
Altana will co-promote
Salix’s Xifaxan (rifaximin)
Altana will promote the product for travelers’ diarrhea to the primary care physician market; terms were not disclosed (3/3)
Salix
Altana Pharma
Pharmaceuticals U.S. Inc.
Ltd. (SLXP)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
251
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Savient
O.R.C.A.Pharm
Pharmaceuticals GmbH (Germany)
Inc. (SVNT)
Product
Terms/Details (Date)
Deal under which O.R.C.A.
will market Soltamox
(tamoxifen oral liquid
solution) in Germany
Savient subsidiary Rosemont Pharmaceuticals will manufacture the product and get
payments based on sales (1/6)
SECOND QUARTER
Advancis
Pharmaceutical
Corp. (AVNC)
Stada
Arzneimittel AG
(Germany)
Stada will supply
Amoxicillin Pulsys products
for Advancis
Stada subsidiary Clonmel Healthcare Ltd.
will provide commercial supplies of the
product, which is in Phase III trials for
treating infections (4/19)
Affymetrix
Inc. (AFFX)
CapitalBio
Corp. (China)
Deal to develop an advanced
GeneChip-compatible personal
scanner and a service provider
program
CapitalBio will offer the full line of Affymetrix GeneChip products under the deal;
they intend to collaborate in other areas, as
well (4/26)
Allos
Therapeutics
Inc. (ALTH)
Hovione
(Portugal)
Deal under which Hovione
will manufacture Efaproxyn
bulk drug substance
The Phase III product is designed to sensitize hypoxic areas of tumors during radiation; the deal covers both pre- and postcommercialization needs (6/16)
AlphaVax Inc.*
Greer
Laboratories
AlphaVax assumed direct
responsibility for vaccine
manufacturing under a new
lease agreement with Greer
AlphaVax will use Greer’s vaccine production facility, and will employ several Greer
staff who are involved in making AlphaVax
vaccines; terms were not disclosed (6/23)
Ambrx Inc.*
CMC Biopharmaceuticals
A/S (Denmark)
Deal for the manufacture of
an Ambrx pegylated recombinant growth hormone
CMC will manufacture the product for use
in human clinical studies; terms of the deal
were not disclosed (6/3)
Antisoma plc
(UK; LSE:ASM)
Heraeus
GmbH (Germany)
Heraeus will provide
supplies of Antisoma’s
AS1410 for clinical trials
Trials of the telomere-targeting agent are
expected to begin in 2006; terms of the
deal were not disclosed (6/2)
Ark
Therapetuics
Group plc
(UK; LSE:AKT)
BL&H Co. Ltd.
(South Korea)
BL&H got rights in South
Korea to the wound-healing
product Kerraboot
Ark would get a double-digit royalty on
sales in the covered territory (6/14)
Avantogen
Ltd. (Australia;
ASX:ACU)
Dr. Reddy’s
Laboratories
(India)
Deal for the production of
Avantogen’s GPI-100
adjuvant
Dr. Reddy’s will manufacture the product
under undisclosed terms (6/23)
BioDiscovery
Inc.*
Tecan Schweiz
AG (Switzerland)
Collaboration to develop
a data-management solution
for interpreting microarray data
They will integrate technologies in the deal,
terms of which were not disclosed (6/29)
252
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
BioSante
Undisclosed
Pharmaceuticals U.S.-based company
Inc. (AMEX:BPA)
Deal for the manufacture of
large-scale quantities of
BioSante’s calcium phosphatebased nanotechnology
The product will be tested by another company to develop an oral formulation of a
marketed injectable protein product; terms
were not disclosed (5/3)
Cellectricon
AB* (Sweden)
Dipsi Industrie
(France)
Dipsi will distribute the
Dynaflow System for ion
channel drug discovery in
France
Dipsi will provide sales and technical support to the French market under undisclosed terms (5/17)
Codexis Inc.*
Shasun Chemicals
and Drugs Ltd.
(India)
Manufacturing and supply
agreement for a pharmaceutical intermediate for a
generic drug
Shasun will manufacture the compound,
and Codexis will market it worldwide to the
generic industry; Codexis will provide the
biocatalyst for use in production, and
they will share profits on sales (5/1 1)
Co.don AG*
(Germany)
Bioengi Ltd.
(Italy)
Bioengi will market Co.don’s
products for treating osteoarthritic knee joints and degenerated intervertebral discs
The products are co.don chondrotransplant, co.don chondrosphere and co.don
chondrotransplant DISC; terms of the deal
were not disclosed (6/8)
Combimatrix
Group (CBMX)
Inter Medical
Co. Ltd. (Japan)
Inter Medical will distribute
CombiMatrix’s CustomArray
microarray products in Japan
Terms of the nonexclusive distribution
deal were not disclosed (5/2)
Corautus
Genetics Inc.
(VEGF)
Boehringer
Ingelheim Austria
GmbH
Deal covering manufacturing
of VEGF-2 plasmid DNA for
Phase III trials and future
commercial use
BI will manufacture Corautus’ product
under undisclosed terms (5/16)
Cortex
Biochem Inc.*
Bouty SpA
(Italy)
Bouty got rights to market
Cortex’s MagaZorb Nucleic
Acid Isolation Kits and
associated reagents in Italy
The exclusive distribution deal includes
Bouty’s biotechnology division, Technogenetics Srl; terms of the deal were not
disclosed (6/14)
Exiqon A/S*
(Denmark)
Roche Diagnostics
(Switzerland)
Roche was named sole
distributor of Exiqon’s
ProbeLibrary Kits
The kits are used for gene expression
analysis and target validation of microarray
experiments; terms were not disclosed
(5/17)
Generex
Biotechnology
Corp. (Canada;
GNBT)
MedGen Corp.
(Lebanon)
MedGen got marketing rights
to the diabetes product
Oral-lyn in Lebanon
MedGen made an up-front license payment
and is obligated to certain minimum purchases of the product from Generex (6/16)
Gilead
Sciences Inc.
(GILD)
Aspen
Pharmacare
(South Africa)
Aspen will manufacture and
distribute Gilead’s HIV products
Truvada and Viread in Africa
The nonexclusive deal includes the 95
resource-limited countries in Gilead’s global
access program; Aspen also will be responsible for regulatory approvals (4/25)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
253
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Product
Terms/Details (Date)
Iconix
Rosetta
Pharmaceuticals Biosoftware (unit
Inc.*
of Merck & Co. Inc.)
Deal to establish interoperability between their
systems
The deal involves Rosetta’s Resolver
system and Iconix’s DrugMatrix Informatics
system; terms were not disclosed (6/20)
ImmunoDesigned
Molecules SA*
(France)
Cambridge
Laboratories
Ltd. (UK)
CLL got marketing rights to
Junovan (Mepact or L-MTP-PE),
a Phase III cancer product, in
the UK and Ireland
IDM gets an up-front license fee and is entitled to milestone payments, as well as royalties on any resulting sales (6/21)
InSite Vision
Inc. (AMEX:ISV)
Unnamed
company
They signed a deal for the
long-term supply of
azithromycin
Azithromycin is the active drug in InSite’s
AzaSite ocular anti-infective product, which
is in Phase III trials (5/18)
Iomai Corp.*
The Dow
Chemical Co.
Iomai will use the Pfenex
Expression Technology from
Dowpharma to produce
heat labile enterotoxin
Iomai will use the technology to produce a
component of its platform for the delivery
of vaccines to the skin; terms were not
disclosed (6/24)
Large Scale
Biology Corp.
(LSBC)
EMD Biosciences
Inc. (unit of
Merck KGaA)
LSBC will manufacture and
supply one of its protein
products for distribution by
EMD
Terms of the multiyear agreement were
not disclosed (4/28)
Microbix
Biosystems
Inc. (Canada;
TSE:MBX)
Undisclosed
vaccine producer
They extended by 90 days
a deal to evaluate Microbix’s
technology to boost the
production yield of flu vaccine
The initial evaluation period was to expire
June 30; terms of the deal were not disclosed (6/24)
Morphotek
Inc.*
Baxter
Healthcare Corp.
They expanded existing deal
to include manufacturing of
Morphotek’s Phase I cancer
antibody MORAb-003
Baxter already was manufacturing MORAb009 and MORAb-004; terms of the deal
were not disclosed (6/30)
Neurobiological
Technologies
Inc. (NTII)
Nordmark
Arzneimittel GmbH
& Co KG (Germany)
and Baxter
Pharmaceutical
Solutions LLC
Deal for the manufacturing
and packaging of NTI’s
Viprinex (ancrod) for Phase III
trials in acute ischemic stroke
Nordmark will manufacture the biological
active ingredient, and Bayer will fill and
package the product; terms of the deal
were not disclosed (6/27)
Novavax Inc.
(NVAX)
Cardinal Health
Inc.
They restructured agreement
for the manufacture of
Novavax’s Estrasorb
Novavax will manufacture the topical emulsion for estrogen therapy; Cardinal will take
care of fill-finish operations; the move is
expected to reduce Novavax’s manufacturing costs (5/9)
OpGen Inc.*
M&S
Instruments Inc.
(Japan)
M&S got exclusive
distribution rights to OpGen
products in Japan
M&S will provide researchers access to
Optical Mapping, OpGen’s whole-genome
analysis system, under undisclosed terms
(4/28)
254
Pharma Co.
(Country)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
Physiomics plc
(UK; AIM:PYC)
Bayer
Technology Services
GmbH (Germany)
Physiomics will distribute
Bayer’s PK-Sim pharmacokinetic modeling products
and services
Terms of the exclusive, renewable five-year
deal were not disclosed (6/23)
Proteome
Agilent
Systems
Technologies
(Australia; ASX:PXL) Inc.
Collaboration to develop an
integrated solution for the
analysis of glycoproteins
Proteome will make its GlycomIQ software
platform compatible with Agilent’s ion trap
mass spectrometers (4/18)
Spectrum
Cura
Pharmaceuticals Pharmaceuticals
Inc. (SPPI)
Co. Inc.
Deal under which Cura
would market Spectrum’s
carboplatin injection product
Spectrum expects approval of the generic
cancer product by mid-2005; terms of the
deal were not disclosed (4/14)
VaxGen Inc.
(PK:VXGN)
Bristol-Myers
Squibb Co.
VaxGen’s joint venture
Celltrion will manufacture
biologic products being
developed by BMS
Celltrion, in South Korea, was established
by Vaxgen and three South Korean partners; terms of the deal were not disclosed
(6/21)
WITA GmbH*
(Germany)
SC Biosciences
Corp. (Japan)
SCBC will distribute
WITA’s proteomics
technologies in Japan
Terms of the deal were not disclosed (4/27)
THIRD QUARTER
Agenix Inc.
(Australia;
ASX: AGX)
Diosynth
Biotechnology (unit
of NV Organon)
Diosynth will manufacture
ThromboView for Phase III
trials and commercial sale
The product uses radiolabeled antibodies
to locate blood clots in the body; terms of
the deal were not disclosed (8/10)
Alpha
Innotech Corp.*
GE Healthcare
(UK)
Alpha Innotech will develop a
line of imaging systems for GE
The products will be sold worldwide under
the GE brand; terms of the deal were not
disclosed (9/2)
Ambion Inc.*
GE Healthcare
(UK)
GE will manufacture
microRNA microarrays for
Ambion
GE will use its CodeLink Bioarray technology in the license supply agreement; terms
of the deal were not disclosed (9/29)
Auxilium
DPT Laboratories
Pharmaceuticals
Inc. (AUXL)
They extended deal for the
manufacturing of Testim
through 2010
The deal for manufacturing Auxilium’s
Testim was set to expire in 2005; DPT will
manufacture it under undisclosed terms
(9/21)
Cephalon Inc.
(CEPH)
Deal to co-promote Attenace
(modafinil), for which an sNDA
has been filed with the FDA
for treating attention deficit/
hyperactivity disorder
Cephalon will pay McNeil commission fees
on sales of Attenace in the deal, which will
last up to three years (9/1)
McNeil Consumer
& Specialty
Pharmaceuticals
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
255
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
CombiMatrix
Group (CBMX)
VWR International
Inc.
VWR will distribute CustomArrays and CatalogArrays
for CombiMatrix
Terms of the global distribution agreement
were not disclosed (9/13)
DOR
BioPharma Inc.
(AMEX:DOR)
Dowpharma
Dow will provide process
development services for
DOR’s oral botulinum vaccine,
BT-VACC
Dow will use its Pseudomonas-based
Pfenex Expression Technology in the effort;
terms of the deal were not disclosed (7/26)
Enobia
Pharma Inc.*
(Canada)
Laureate Pharma
Inc.
Deal for the process development and manufacture of
Enobia’s recombinant enzyme
sPHEX Metallo Peptidase
Phase I trials are expected to start in 3Q:06;
terms of the deal were not disclosed (9/21)
ExonHit
Therapeutics
SA* (France)
Agilent
Technologies
Inc.
Agilent will distribute
ExonHit’s SpliceArrays
technology
SpliceArrays is a new generation of microarrays to detect alternative splicing (9/1)
GeneGo Inc.*
Rosetta
Biosoftware (unit
of Merck & Co. Inc.)
Deal to establish interoperability between Rosetta’s
Resolver system and GeneGo’s
MetaCore system
Researchers will be able to exchange data
between the systems for analyzing gene
expression data and for pathway analysis;
terms were not disclosed (7/18)
Gene Logic
Inc. (GLGC)
GE Healthcare
Deal under which GE will
distribute Gene Logic’s
Sciantis System worldwide
The product is an an online gene expression analysis system; terms of the deal
were not disclosed (7/19)
IBEX
Technologies
Inc. (Canada;
TSE:IBT)
Seikagaku Corp.
(Japan) and
Prozyme Inc.
Seikagaku and Prozyme will
market IBEX enzymes to
customers in the worldwide
research community
Terms of the deal with Prozyme and Seikagaku subsidiary Associates of Cape Cod
Inc. were not disclosed (9/20)
InSite Vision
Inc. (AMEX:ISV)
Cardinal Health
Cardinal will manufacture
commercial supplies of
AzaSite (1% azithromycin)
Cardinal has been manufacturing the antiinfective for clinical trials; terms were not
disclosed (9/22)
Lantibio Inc.*
Apotex
Fermentation Inc.
(Canada)
Apotex will supply and help
in the development of
Lantibio’s Moli1901 product
The product is being developed for dry-eye
syndrome and cystic fibrosis; Apotex is
entitled to royalty payments (8/15)
Mesoblast Ltd.
Cambrex Corp.
(Australia; ASX:MSB)
Deal for large-scale production
of Mesoblast’s adult stem cells
Cambrex will produce clinical-grade cells
under undisclosed terms (9/20)
NeoPharm
Inc. (NEOL)
Diosynth
Biotechnology (unit
of NV Organon)
They amended manufacturing
deal covering NeoPharm’s
IL13-PE38QQR
Deal covers manufacturing following the
ongoing Phase III trial in brain cancer if
NeoPharm moves ahead with BLA filing (9/21)
Osiris
Therapeutics
Inc.*
JCR
Pharmaceuticals
Co. Ltd. (Japan)
JCR got rights in Japan to sell
stem cells for use in drug
screening and evaluation
The deal is an expansion of a license agreement under which JCR got rights to a stem cell
drug for treating graft-vs.-host disease (8/4)
256
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
Peptech Ltd.
Undisclosed
(Australia; ASX:PEP) company
Deal for the manufacturing
of Peptech’s anti-TNF domain
antibody
The unnamed company will manufacture
the antibody to GMP standards (9/12)
QBI Life
Sciences (unit of
Quintessence
Biosciences Inc.)
Takara will distribute QBI’s
tools for membrane proteins
in Japan, China and Korea
Terms of the deal were not disclosed (7/18)
Takara Bio Inc.
(Japan)
Samaritan
Norbrook
Pharmaceuticals Laboratories S.R.O.
Inc. (AMEX:LIV)
(Northern Ireland)
Norbrook would supply raw
SP-01A is Samaritan’s lead HIV drug; its
formulation material to
manufacturing partner is Pharmaplaz
Samaritan’s manufacturing
(9/27)
partner upon approval of SP-01A
Vernalis plc
(UK; LSE:VER)
Deal for the process
development, scale-up and
manufacturing of Vernalis’
V10153 for Phase III trials
Diosynth will manufacture the thrombolytic agent under undisclosed terms (9/22)
Verus acquired exclusive,
worldwide rights to the
approved product Twinject
Twinject is an epinephrine auto-injector
indicated for the emergency treatment of
severe allergic reactions (anaphylaxis); it
also got rights to other technology and
development programs (7/6)
Diosynth
Biotechnology (unit
of NV Organon)
Verus
Hollister-Stier
Pharmaceuticals Laboratories LLC
Inc.*
FOURTH QUARTER
Acorda
Therapeutics
Inc.*
Cardinal Health
Two-year deal to expand the
sales force for Acorda’s
Zanaflex Capsules
Cardinal will provide about 160 contract
sales representatives to address the primary care market (1 1/10)
Affibody AB*
(Sweden)
Funakoshi Co.
Ltd. (Japan)
Funakoshi will promote and
distribute Affibody research
reagents in Japan
Terms of the deal were not disclosed (10/4)
BioDelivery
Sciences
International
Inc. (BDSI)
Aveva Drug
Delivery Systems
Inc.
Aveva will prepare supplies
for Phase III trials and
commercial manufacturing
of BDSI’s BEMA Fentanyl
The product is an oral adhesive disc formulation of the narcotic fentanyl; Aveva will
exclusively manufacture and supply the
discs (1 1/8)
Bioxel Pharma
Inc. (Canada;
CDNX:BIP)
Undisclosed
European
manufacturer
Renewable two-year deal under
which Bioxel will manufacture
and supply paclitaxel
Paclitaxel deliveries to the generic manufacturer are expected to generate sales of
$1.5M to $2M per year for Bioxel (10/27)
New Harbor got rights in China
to a nitric oxide donor product
for treating anal disorders
NHC will work through PUMC Pharmaceuticals Co. Ltd. to bring products to market in
China; Cellegy would get royalties on sales
(1 1/22)
Cellegy
New Harbor
Pharmaceuticals Corp.
Inc. (CLGY)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
257
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
Codexis Inc.*
Arch Pharmalabs
Ltd. (India)
Codexis will use its MolecularBreeding technology to
manufacture an undisclosed
compound for Arch
Codexis is entitled to up-front and milestone payments from Arch, a generic
pharmaceutical company (10/1 1)
Codexis Inc.*
Matrix
Laboratories
Ltd. (India)
Deal to develop a process
for the manufacture of an
undisclosed drug
Codexis is entitled to R&D funding, milestone payments and royalties; it will use its
MolecularBreeding technology in the effort
(10/1 1)
Cortex
Biochem Inc.*
Vita Inc.
(Japan)
Vita will market Cortex
products in Japan
The deal covers the MagaZorb Nucleic Acid
Isolation Kits and associated reagents, and
magnetic separation and immunoreagent
products (10/1 1)
Cubist
ACS Dobfar SpA
Pharmaceuticals (Italy)
Inc. (CBST)
ACS was named the singlesource supplier of the active
ingredient for Cubist’s
antibiotic drug Cubicin
ACS has been supplying the ingredient for
clinical trials since 1998; it now will be the
only supplier (1 1/30)
Discovery
Laboratories
Inc. (DSCO)
Laureate
Pharma Inc.
Discovery is purchasing
Laureate’s manufacturing
operations in Totowa, N.J.
Laureate has been providing manufacturing services to Discovery for more than two
years; Discovery is paying $16M in cash for
the facility (12/28)
GenTel
BioSurfaces
Inc.*
Abnova Corp.
(Taiwan)
Deal to combine technologies
to develop multiplex
immunoassays
Terms of the deal were not disclosed (1 1/9)
Hemispherx
Biopharma
Inc. (AMEX:HEB)
HollisterStier
Laboratories
They signed a letter of intent
for the contract manufacturing
of Hemispherx’s Ampligen
Terms of the deal were not disclosed (10/10)
ImmunoGen
Inc. (IMGN)
Diosynth
Biotechnology (unit
of NV Organon)
Diosynth will manufacture
ImmunoGen’s huN901
antibody
The antibody will be used in ImmunoGen’s
huN901-DM1 anticancer compound (10/6)
Microbia Inc.*
Ranbaxy
Laboratories
Ltd. (India)
Deal to improve the biomanufacturing process for
a Ranbaxy product
Microbia is entitled to R&D funding and
potential development milestone payments
(1 1/1)
ProBioGen AG*
(Germany)
SAFC Biosciences
(unit of SigmaAldrich Group)
Deal under which SAFC will
market ProBioGen’s cell line
engineering services
The services cover development of hightiter cells for production of biotherapeutics;
terms were not disclosed (1 1/1)
Deal to study ProtoKinetix’s
AAGP for the stabilization of
the partner’s vaccines
AAGP is a synthetic antifreeze glycoprotein;
terms of the deal were not disclosed (10/6)
ProtoKinetix
Undisclosed
Inc. (OTC BB:PKTX) company
258
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology And Pharmaceutical Companies (Continued)
Biotech Co.*
(Country;
Symbol)
Pharma Co.
(Country)
Product
Terms/Details (Date)
RxKinetix Inc.*
Indian
Immunologicals
Ltd. (India)
RxKinetix will work to develop
improved formulations of
a hepatitis B vaccine
The vaccine will be formulated in RxKinetix’s
ProJuvant delivery platform; terms
of the deal were not disclosed (1 1/2)
SciGen Ltd.
(Singapore;
ASX:SIE)
Bioton (Poland)
and Hefei Life
Science & Technolology Investments
and Development
(China)
They established a joint
venture to manufacture
biopharmaceuticals in
China
Among the drugs to be produced there will
be SciGen’s insulin and hepatitis B products; Hefei has a deal with SciGen to distribute SciGen products in China (12/13)
TolerRx Inc.*
Abbott
Laboratories
Deal under which Abbott will
manufacture TolerRx’s TRX4
monoclonal antibody
Abbott will supply the product for clinical
trials and potential commercial launch;
terms were not disclosed (1 1/29)
TopoTarget
A/S (Denmark;
CSE:TOPO)
Undisclosed
company
The unnamed company will
promote TopoTarget’s
Savene in Austria and four
Eastern European countries
The drug is being developed for treating
accidental extravasations of anthracycline
drugs; launch is anticipated late in 2006
(12/22)
Viragen Inc.
(AMEX:VRA)
Kuhnil Pharm Co.
Ltd. (South Korea)
Kuhnil got rights to distribute
Multiferon in South Korea
Viragen gets an up-front fee; Kuhnil gets
exclusive rights for 10 years; further
terms were not disclosed (12/6)
ViroPharma
Inc. (VPHM)
Eli Lilly and Co.
Amended manufacturing deal
calls for Lilly to increase its
supply of Vancocin
ViroPharma, expecting a possible increase
in demand for the Clostridium difficile
infection product, will pay Lilly up to $4.5M
more than provided for in the original
contract through early 2006 (1 1/3)
Notes:
# The information in the chart does not cover agricultural agreements or those between biotech companies.
* Private companies are indicated with an asterisk.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CDNX = Canadian
Venture Exchange; CSE = Copenhagen Stock Exchange; LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin
Board; PK = Pink Sheets; TSE = Toronto Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
259
2005 Biotechnology Company Deals With Other Biotechnology
Companies: Collaborations, Agreements, Equity Participation
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Genentech exercised its option
to extend for three years a
licensing agreement for
antibody-generation
technology
Genentech purchased Abgenix stock and
would pay milestone and royalty fees as
products advance; the deal covering XenoMouse technology originally was signed in
1999 (3/14)
Acadia
Sepracor Inc.
Pharmaceuticals (SEPR)
Inc. (ACAD)
They will jointly research and
develop agonists and antagonists of selective muscarinic
receptors for CNS disorders,
including Acadia’s m1 agonist
program
Sepracor is buying $10M of Acadia stock at a
40% premium, and will buy up to $10M
more in stock at a 25% premium in one year;
Acadia also will get research funding for
three years; a single approval would result
in $40M of payments to Acadia, plus royalties on sales (1/1 1)
ActiveSight*
(unit of Rigaku/
MSC)
Serenex Inc.*
Deal for the co-crystallization
of Serenex molecules with
proteins expressed by
ActiveSight
Additional details of the deal were not
disclosed (2/23)
AdnaGen AG*
(Germany)
Gen-Probe
Inc. (GPRO)
Gen-Probe licensed technology for detecting rare,
circulating tumor cells that are
an early event in metastasis
Gen-Probe gets exclusive access for molecular diagnostic tests for prostate and bladder cancers; AdnaGen gets $1.75M in license fees, up to $2.25M in milestones and
royalties on any resulting sales (1/3)
Aerogen Inc.
(AEGN)
Biota Holdings
Ltd. (Australia;
ASX:BTA)
Deal to develop Biota’s
CS-8958, a long-acting
neuraminidase inhibitor, with
Aerogen’s Aeroneb nebulizer
Work on the influenza product is being
funded under a $5.6M grant to Biota from
the National Institutes of Health; terms
were not disclosed (3/9)
AEterna
Zentaris Inc.
(Canada; AEZS)
Keryx Biopharmaceuticals
Inc. (KERX)
Keryx got certain rights to
develop and sell ErPC in North
America, South Africa, Israel,
Australia and New Zealand
The product, designed to block PI3K-AKT
pathways, is an analogue of perifosine, for
which Keryx already had North American
rights; terms were not disclosed (1/6)
Agencourt
Bioscience
Corp.*
Dyadic
International
Inc. (OTC BB:DYAD)
Agencourt will sequence the
genome of Dyadic’s fungus,
Chrysosporium lucknowense,
also known as C1
The information will be used for potential
new protein and enzyme products; terms
of the deal were not disclosed (2/17)
FIRST QUARTER
Abgenix Inc.
(ABGX)
260
Genentech
Inc. (NYSE:DNA)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Alnylam
GeneCare
Pharmaceuticals Research
Inc. (ALNY)
Institute Co.
Ltd. (Japan)
GeneCare got an exclusive
license to develop RNAi
therapeutics against two DNA
helicase genes associated
with cancer
Alnylam gets up-front and annual payments, as well as potential milestones and
royalties; it also kept the right to negotiate
co-development and -promotion deals on
the products in the U.S. (1/6)
Altair Nanotechnologies
Inc. (ALTI)
Spectrum acquired worldwide
rights to RenaZorb (two secondgeneration lanthanum-based
phosphate binding agents)
Spectrum will make an up-front payment
of 100,000 shares of restricted stock
and make a $200,000 equity investment;
Altair also is eligible to receive milestone
and royalty payments (1/31)
Angiotech
CABG Medical
Pharmaceuticals Inc. (CABG)
Inc. (Canada; ANPI)
CABG got a license to
paclitaxel technology for
treating restenosis and
proliferative disease
Angiotech gets a warrant to purchase 1.26M
CABG shares, exercisable at $0.0 1, and
potential milestone and royalty payments;
also, Angiotech will purchase up to $10M in
CABG stock at a 15% premium (3/23)
Antigenics
Inc. (AGEN)
Pharmexa A/S
(Denmark; CSE:
PHARMX)
Pharmexa licensed an
adjuvant for use with its
HER-2 Protein AutoVac
pharmaccine
Pharmexa will formulate the pharmaccine
with the QS-21 adjuvant; terms of the deal
were not disclosed (1/18)
Ardais Corp.*
Cytomyx
Holdings plc*
(UK)
Cytomyx is acquiring Ardais’
biorepository of more than
130,000 clinically annotated
biospecimens
Cytomyx also will acquire the lab facilities
and equipment and will hire Ardais’ biological operations personnel; terms were not
disclosed (3/30)
Atugen AG*
(Germany)
Asinex Ltd.*
(Russia)
Collaboration to discover
and develop cancer drugs
targeting the kinase PKN3
They will work on the program on a sharedrisk basis; any revenues would be equally
divided (2/7)
Avidex Ltd.*
(UK)
Active Biotech
AB (Sweden;
SSE:ACTI)
Active will use Avidex’s
monoclonal T-cell receptor
technology to help develop
the cancer product Anyara
Avidex’s mTCR product will be used for
characterization of the drug during clinical
development; terms were not disclosed
(3/7)
BCY LifeSciences Inc.
(Canada; TSE:BSY)
Align
Pharmaceuticals
Inc.*
Align will further develop
and market BCY’s DCF 987,
a Phase II product for
respiratory conditions
BCY is entitled to up-front, milestone and
royalty payments; the product is the first in
Align’s portfolio (2/25)
Benitec Ltd.
GenOway SA*
(Australia; ASX:BLT) (France)
GenOway got rights to
develop transgenic animals
using DNA-directed RNA
interference
Benitec gets an up-front license fee and ongoing royalties under the worldwide, nonexclusive deal (3/22)
BioFocus plc
(UK; AIM:BIO)
Deal to accelerate lead
discovery of Senexis drugs
for Alzheimer’s disease
Terms of the deal were not disclosed (3/7)
Spectrum
Pharmaceuticals
Inc. (SPPI)
Senexis Ltd.*
(UK)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
261
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
BioKine
Therapeutics
Ltd.* (Israel)
BioTie
Therapies Corp.
(Finland; HEX:BTH1V)
BioTie gained exclusive
rights to develop the antiinflammatory small-molecule
compound BKT104
BioKine is entitled to receive milestone payments in the deal, along with royalties on
any resulting sales (1/12)
Biolex Inc.*
Medarex Inc.
(MEDX)
Biolex will create a commercial
line for an undisclosed
Medarex monoclonal antibody
At Medarex’s option, Biolex may scale-up
and manufacture the antibody following
commercial-line creation; terms were not
disclosed (2/4)
Biovation Ltd.*
(UK)
Scancell Ltd.*
(UK)
Biovation will apply its
DeImmunisation technology
to up to two further Scancell
antibodies, including SC101
The goal is to help prepare the antibodies
for clinical trials; terms of the deal were not
disclosed (1/1 1)
Caliper
Life Sciences
Inc. (CALP)
Predicant
Biosciences
Inc.*
Predicant got nonexclusive
access to microfluidics technology for analyzing proteins
using mass spectrometry
Predicant is developing proteomic tests;
terms of the deal were not disclosed (1/6)
Caprion
ICOS Corp.
Pharmaceuticals (ICOS)
Inc.*
Collaboration for the joint
development of therapeutic
antibodies for treating cancer
Caprion gets an up-front payment and
license fees; the deal includes reciprocal
milestone and royalty payments; also, ICOS
has an option to co-develop and co-promote certain products (3/31)
Celgene Corp.
(CELG)
EntreMed Inc.
(ENMD)
EntreMed licensed rights to
Celgene’s small-molecule
tubulin inhibitor compounds
for the treatment of cancer
Celgene gets an up-front licensing fee and
potential milestone payments under the
worldwide, exclusive deal (3/24)
Celladon
Corp.*
Targeted
Genetics Corp.
(TGEN)
Collaboration to develop
adeno-associated virus-based
gene therapies for treating
congestive heart failure
Targeted Genetics committed $2M toward
development of AAV vectors containing the
SERCA2a gene and phospholamban gene
mutations, and is eligible to receive milestone and royalty payments (1/4)
Cell
Therapeutics
Inc. (CTIC)
DiaKine
Therapeutics
Inc.*
DiaKine licensed the small
molecule Lisofylline for
development in diabetes
and related complications
CTI gets a license fee, potential milestone
and royalty payments, and an equity interest in DiaKine; CTI retains all rights in nondiabetes applications (1/4)
Chicago Labs
Inc.*
Spectrum
Pharmaceuticals
Inc. (SPPI)
Spectrum acquired an
exclusive license to
endothelin B agonists for
the treatment of cancer
Chicago Labs, which licensed the technology
from the University of Illinois, gets $100,000
up front, along with potential milestone
and royalty payments (2/18)
262
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
CombiMatrix
Group (CBMX)
Benitec Ltd.
(Australia;
ASX:BLT)
Benitec got a nonexclusive
license to use pools of siRNAs
against viral diseases, and a
coexclusive sublicense to two
sequences targeting HIV genes
In return, CombiMatrix got a nonexclusive
license to patents for the development of
RNAi therapeutics against diseases resulting from biological, chemical, radioactive
and other weapons; the companies also will
collaborate in other areas (2/22)
ComGenex
Inc.* (Hungary)
Echelon
Biosciences Inc.*
(subsidiary of
AEterna Zentaris Inc.)
They finalized deal to transfer
to Echelon all rights to
technology created in their
collaboration
The rights are to develop, manufacture and
market certain PI3K inhibitors for cancer
indications; terms of the deal were not disclosed (2/1)
Control
Delivery
Systems Inc.*
Alimera Inc.*
Collaboration to develop and
market a treatment for
diabetic macular edema
Alimera also has an option to develop three
additional products using CDS’s delivery
technology; terms were not disclosed (2/16)
Corixa Corp.
(CRXA)
Lorantis Ltd.*
(UK)
Deal to continue development
of a hepatitis B vaccine
containing Corixa’s RC-529
adjuvant and Lorantis’ CV-1831,
a hepatitis B core antigen
The antigen previously was owned by
Apovia Inc.; Lorantis acquired Apovia’s
interest in the technology and will assume
many of Apovia’s responsibilities under the
deal with Corixa; Lorantis and Corixa will
share costs and revenues (3/3)
Corixa Corp.
(CRXA)
Genentech Inc.
(NYSE:DNA)
Genentech got exclusive
rights to an undisclosed target
for development of humanized
antibody-based therapeutics
Corixa gets a $1.6M up-front license fee and
up to $8.25M in milestone payments, as
well as royalties on any sales (1/13)
Cresset
BioMolecular
Discovery
Ltd.* (UK)
Pharmagene
plc (UK; LSE:
PGN)
Cresset will attempt to find
novel leads against a
Pharmagene discovery target
Terms of the deal were not disclosed (3/2)
Crucell NV
(the Netherlands;
CRXL)
Vascular
Biogenics Ltd.*
(Israel)
Vascular Biogenics got rights
to use the PER.C6 cell line
in gene therapeutics based
on adenoviral vectors
Crucell gets a research license payment
and annual license fees in the nonexclusive
deal (3/30)
Crucell NV
(the Netherlands;
CRXL)
SingVax Pte.
Ltd. (Singapore)
SingVax got rights to PER.C6
technology for use in vaccines
against Japanese encephalitis
Crucell gets up-front, annual and potential
milestone payments, as well as royalties on
any sales and a preferred position to negotiate marketing rights outside the AsiaPacific region (3/22)
Crucell NV
(the Netherlands;
CRXL)
Genentech
Inc. (NYSE:DNA)
Genentech is evaluating
Crucell’s STAR technology for
the production of antibodies
and other proteins
Genentech is funding the joint evaluation
program, and has an option to sign a nonexclusive license agreement (1/7)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Curis Inc.
(CRIS)
Genentech
Inc. (NYSE:DNA)
Curis exercised its U.S.
co-development option to
develop a product for topically
treating basal cell carcinoma
Curis now will share in costs and profits for
the preclinical compound from their 2003
collaboration based on inhibition of the
Hedgehog signaling pathway (2/1)
Cyntellect
Inc.*
Undisclosed
company
The company will access
Cyntellect’s Cell Xpress service
Terms of the deal were not disclosed (1/27)
Demegen Inc.*
Pacgen Biopharmaceuticals
Corp.* (Canada)
Pacgen got a license to
certain peptides for treating
oral diseases
Pacgen’s initial focus will be on a treatment
for oral candidiasis; terms of the deal were
not disclosed (3/22)
Dharmacon
Inc.*
Genentech
Inc. (NYSE:DNA)
Genentech will use Dharmacon RNAi technology for
drug discovery and
development
Dharmacon will supply Genentech a range
of siRNA reagents under undisclosed terms
(1/21)
Directif GmbH
(Germany;
subsidiary of
November AG*)
Epidauros
Biotechnologie
AG* (Germany)
They formed a joint venture
to develop applications for
Directif’s LabChip technology
in personalized medicine
They are pooling know-how to develop
applications for drug development; terms
were not disclosed (3/23)
Discovery
Partners
International
Inc. (DPII)
Chroma
Therapeutics
Ltd.* (UK)
DPI will use its compound
collection and other technologies to identify compounds
for Chroma targets
Terms of the deal were not disclosed (3/29)
Domantis Ltd.*
(UK)
Tanox Inc.
(TNOX)
Domantis will use its Domain
Antibodies technology to
discover therapeutic product
leads for Tanox
Domantis gets an up-front fee, research
funding and annual fees, as well as potential milestone and royalty payments; the
focus is autoimmune diseases (3/22)
Durect Corp.
(DRRX)
Endo
Pharmaceuticals
Inc. (ENDP)
Endo got exclusive rights to
Durect’s sufentanil-containing
transdermal patch in the U.S.
and Canada
Durect gets $10M up front and up to $35M
in regulatory and commercial milestones,
as well as royalties on any sales of the pain
product; Endo assumed development
responsibilities (3/14)
EndoChem
Inc.*
QuatRx
Pharmaceuticals
Co.*
QuatRx acquired rights to
QRX-431, an orally active
compound for the treatment
of lipid disorders and obesity
Terms of the exclusive worldwide deal
were not disclosed (3/15)
Epitomics
Inc.*
InNexus
Biotechnology
Inc. (Canada;
VSE:IXS)
Deal to develop antibodies for
certain targets that will be
modified for delivery using
InNexus’ TransMab technology
Epitomics will supply the antibodies; they
plan to develop products through Phase II
before licensing them out; financial details
were not disclosed (1/12)
264
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Evotec OAI
AG (Germany;
FSE:EVT)
AnorMed Inc.
(Canada; TSE:AOM)
Evotec will support chemical
development of AnorMED
candidate AMD 3100
Evotec will complete the full validation of
the process for the Phase III product under
undisclosed terms (2/16)
Galmed
International
Ltd.* (Malta)
BioLineRx Ltd.*
(Israel)
BioLineRx licensed worldwide
rights to BL-1060, a small
molecule for treating fatty
liver disease
Terms of the exclusive deal on the preclinical product were not disclosed (3/14)
GenData
Research
Corp.*
Amgen Inc.
(AMGN)
Amgen will sponsor research
for discovery and development
of therapeutics and diagnostics
for an undisclosed disorder
Amgen will select genetic targets identified
by GenData’s population genetics discovery platform; specific terms were not disclosed (1/5)
GeneGo Inc.*
RNA Co. Ltd.*
(Japan)
RNA Co. licensed GeneGo’s
MetaCore technology for
use in RNAi drug discovery
Terms of the deal were not disclosed (1/24)
Generation
Biotech LLC*
Qiagen NV
(the Netherlands;
QGEN)
Qiagen licensed a
technology for haplotypespecific extraction of DNA
Qiagen subsidiary GenoVision Inc. got
exclusive rights to the technology in all
applications; terms were not disclosed
(2/14)
GlobeImmune
Inc.*
MycoLogics
Inc.*
MycoLogics gained rights to
develop certain antifungal
products under the GlobeImmune Tarmogen Technology
MycoLogics plans to begin preclinical testing of human and animal vaccines targeting fungal diseases; terms of the deal were
not disclosed (1/17)
Helix
Lumera Corp.
BioPharma Corp. (LMRA)
(Canada; TSE:HBP)
Lumera exclusively licensed
Helix’s Biochip technology for
developing protein chip sets
Helix is entitled to up-front, milestone and
royalty payments, and retains the right to
use the technology in its research (1/25)
HMGene Inc.*
WellGen Inc.*
HMGene will screen
WellGen compounds against
its panel of genes involved in
adipocyte development
Terms of the research contract and licensing deal were not disclosed; WellGen
would commercialize any resulting products (2/10)
HTS Biosystems
Inc.*
Biacore
International AB
(Sweden; SSE:BCOR)
Biacore acquired the
FLEXChip System and
related assets from HTS
Biacore is paying $4M for the technology
used in protein-interaction analysis (3/10)
Iceland
Genomics
Corp.* (Iceland)
Sequenom
Inc. (SQNM)
Deal to analyze Sequenom
genetic markers associated
with breast and prostate cancer
in Icelandic patient samples
Sequenom has commercialization rights for
any resulting products, while Iceland
Genomics is entitled to receive royalties
on any sales (2/9)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
265
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
IGI Inc.
(AMEX:IG)
Senetek plc
(OTC BB:SNTKY)
Deal to evaluate IGI’s Novasome and micellar nanoparticle
technologies for topical
delivery of Senetek’s Invicorp
erectile dysfunction therapy
The deal was disclosed at the same time as
Sentek’s offer to merge with IGI in a 50-50
deal; terms of the collaboration were not
disclosed (1/14)
ImClone
Systems Inc.
(IMCL)
Genentech
Inc. (NYSE:DNA)
ImClone licensed rights to
patents covering aspects of
antibody technology
The licenses relate to the EGFR-targeted
antibodies Erbitux and IMC-1 1F8; terms
were not disclosed (1/25)
Incyte Corp.
(INCY)
Biosite Inc.
(BSTE)
Biosite exercised a semiexclusive research and
diagnostics license and got an
exclusive option to license
50 other diagnostic targets
Incyte has received up-front fees and could
receive additional milestones and royalties
should Biosite develop and commercialize
diagnostic products using any of the targets (2/7)
IriSys Inc.*
Avanir
Pharmaceuticals
Inc. (AMEX:AVN)
Avanir acquired additional
rights to its late-stage
CNS product Neurodex
Avanir licensed the product from IriSys in
2000; it has no further obligation to IriSys
after paying $1.925M in cash and 2M shares
of stock; Avanir still has royalty and other
obligations to the discoverer, The Center
for Neurologic Study (3/9)
Isis
OncoGenex
Pharmaceuticals Technologies
Inc. (ISIS)
Inc.*
They broadened collaboration
to allow for development of
two additional second-generation antisense cancer drugs
Isis gets an up-front fee along with
potential milestone and royalty payments;
two drugs already are being developed
under the deal that started in 2001 (3/16)
Isis
Sarissa Inc.*
Pharmaceuticals (Canada)
Inc. (ISIS)
Sarissa licensed an antisense
inhibitor of thymidylate
synthase, which has
applications in cancer
Isis gets a $1M up-front fee in stock and
potential milestone and royalty payments;
Sarissa gets exclusive, worldwide rights
(2/14)
Large Scale
Biology Corp.
(LSBC)
Icon Genetics
AG* (Germany)
Deal to combine technologies
to develop an undisclosed
product
They will pool their plant-based platforms
in an attempt to develop the difficult-toproduce drug; terms were not disclosed
(3/1)
MacroMed
Inc.*
Diatos SA*
(France)
Diatos got exclusive rights
to develop and sell OncoGel
(injectable paclitaxel) worldwide except North America
and Korea
They will collaborate on clinical development; MacroMed gets a license fee and
potential milestone and royalty payments
and retained the right to supply the product (1/5)
MethylGene
Inc. (Canada;
TSE:MYG)
EnVivo
Pharmaceuticals
Inc.*
Collaboration to develop
small-molecule HDAC
inhibitors for treating
neurodegenerative disorders
MethylGene, which will contribute chemistry expertise, gets $1.1M the first year;
then they will share costs and revenues
equally (2/8)
266
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
NascaCell IP
Discovery
GmbH* (Germany) Partners
International
Inc. (DPII)
Deal to jointly provide
aptamer-based drug discovery
services to the life sciences
industry
The effort combines NascaCell’s expertise
in aptamers with DPI’s drug discovery
capabilities; terms were not disclosed
(3/21)
Nektar
Therapeutics
(NKTR)
Collaboration to develop an
inhalable powder form of
Zelos’ parathyroid hormone
analogue Ostabolin-C
Nektar will develop the dry-powder drug
and inhalation system and get R&D funding along with potential milestone and
royalty payments (1/24)
Neuren
Metabolic
Pharmaceuticals Pharmaceuticals
Ltd.* (Australia)
Ltd. (Australia;
ASX:MBP)
Deal to co-develop Neuren’s
neuroregenerative peptides
for treating degenerative
conditions
They will jointly develop the technology
and equally share all intellectual property
and commercial outcomes (3/4)
OctoPlus
Technologies
BV* (the
Netherlands)
Biolex Inc.*
Collaboration to co-develop
a controlled-release
formulation of recombinant
human alfa interferon
They will combine OctoPlus’ biodegradable
PolyActiv drug-delivery technology with
Biolex’s BLX-883; terms of the deal were not
disclosed (2/16)
OriGene
Technologies
Inc.*
Novasite
Pharmaceuticals
Inc.*
Novasite licensed access
to OriGene’s TruClone
collection of full-length
human cDNAs
Terms of the deal were not disclosed (2/15)
OsteoScreen
Inc.*
Neosil Inc.*
Neosil licensed several
hair-growth products from
OsteoScreen
Terms of the deal were not disclosed (2/16)
Oxford
BioMedica plc
(UK; LSE:OXB)
Biogen Idec
Inc. (BIIB)
Biogen got rights to use
Oxford’s LentiVector technology in research activities
Oxford gets an up-front license fee and
annual maintenance payments; further
terms were not disclosed (1/5)
Pathway
Diagnostics
Corp.*
Nanogen Inc.
(NGEN)
Deal under which Nanogen
Terms of the nonexclusive, worldwide
will develop diagnostics
license agreement were not disclosed
that detect genetic variations
(3/22)
associated with responses to
depression and psychosis drugs
Pharmacopeia
Drug Discovery
Inc. (PCOP)
CV Therapeutics
Inc. (CVTX)
Drug discovery deal under
which Pharmacopeia will
provide discovery technologies
Pharmacopeia gets research funding in
addition to potential milestone and royalty payments (3/23)
PharmaForm
LLC*
Auxilium
Pharmaceuticals
Inc. (AUXL)
Auxilium got exclusive rights
to develop and sell eight
analgesic compounds using a
transmucosal film technology
The products will target acute and chronic
pain; terms of the deal were not disclosed
(2/8)
Zelos
Therapeutics
Inc.*
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
267
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Pintex
Vernalis plc
Pharmaceuticals (UK; VNLS)
Inc.*
Vernalis acquired rights and
other assets related to the
oncology target Pin1
Pintex gets an initial cash payment and
would get up to 1.5M Vernalis shares should
a drug candidate enter human trials, which
is not expected before 2008; Pintex would
get another payment, bringing the total to
$6.5M, upon product approval (3/31)
ProMetic
Life Sciences
Inc. (Canada;
TSE:PLI)
Octapharma
AG* (Switzerland)
Octapharma gained access to
ProMetic’s Mimetic Ligand
affinity technology for the
manufacture of protein drugs
The deal was valued at C$1.4M to ProMetic
(1/5)
Protein Polymer
Technologies
Inc. (OTC BB:PPTI)
Genencor
International
Inc. (GCOR)
They expanded 2000 deal to
include personal care product
applications
Genencor already had rights to industrial
applications of PPTI’s polymer technology;
PPTI gets an up-front and annual payments,
as well as royalties on any sales (3/30)
ProteoCell
Biotechnologies
Inc.* (Canada)
Viropro Inc.
(Canada;
OTC BB:VPRO)
Deal to commercialize
recombinant biogeneric
therapeutics for
international markets
They intend to evaluate and scale up certain biotherapeutic proteins, then transfer
candidates to international clients for local
commercial manufacturing (3/15)
Revaax
Rexahn Corp.*
Pharmaceuticals*
Rexahn licensed technology
similar to antibiotics with
activity against central
nervous system activity
The lead compound, RX-10,100, is expected
to enter clinical trials within a year; terms
of the deal were not disclosed (3/3)
Rimonyx
BioLineRx Ltd.*
Pharmaceuticals (Israel)
Ltd.* (Israel)
BioLineRx got exclusive
worldwide rights to develop
BL-1030
BL-1030 is an L-selectin inhibitor targeted at
inflammatory bowel disease; terms of the
deal were not disclosed (1/13)
Scynexis Inc.*
Adherex
Technologies
Inc. (AMEX:ADH)
Scynexis will provide
medicinal and analytical
chemistry services to Adherex
The work will focus on Adherex’s smallmolecule cadherin antagonist development
programs; terms were not disclosed (3/23)
Seattle
Genetics Inc.
(SGEN)
CuraGen Corp.
(CRGN)
CuraGen exercised its option
to designate a second antigen
target under their existing
antibody-drug conjugate
collaboration
The option, stemming from their June 2004
collaboration, triggered a $1M payment to
Seattle Genetics (2/15)
Serologicals
Corp. (SERO)
OncoMethylome
Sciences SA*
(Belgium)
OMS licensed fluorescent
detection technology for
development of diagnostic
assays for detecting DNA
methylation patterns
OMS made the deal on the Amplifluor
technology with Serologicals subsidiary
Chemicon International Inc.; terms of the
deal were not disclosed (3/30)
268
Company*
(Country;
Symbol)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Sunol
Molecular
Corp.*
Tanox Inc.
(TNOX)
Tanox is acquiring Sunol’s
tissue factor antagonist
program for treating inflammatory diseases and cancer
Tanox will issue 800,000 shares of common
stock, which were valued at $8.26M, and
pay $6 million to Sunol in the deal; Tanox
also got nonexclusive rights to certain
technologies for protein and antibody
expression (3/28)
Syntonix
Serono SA
Pharmaceuticals (Switzerland;
Inc.*
NYSE:SRA)
Serono licensed exclusive
rights to Transceptor and
Synfusion technologies for
developing interferon-beta:Fc
products
Serono intends to develop an inhaled
interferon-beta therapy for multiple sclerosis; Syntonix gets an up-front license fee
and is eligible for development milestones
and sales royalties (3/31)
Targeted
Genetics Corp.
(TGEN)
Sirna
Therapeutics
Inc. (RNAI)
Collaboration using TGEN’s
adeno-associated virus
delivery platform to develop
drugs for Huntington’s disease
The AAV platform will be combined with
Sirna’s HD program and expertise in RNA
silencing technologies; costs and any
revenues will be shared (1/1 1)
Tripos Inc.
(TRPS)
BioTie
Therapies Corp.
(Finland; HEX:BTH1V)
Tripos will identify and
optimize backup series
for one of BioTie’s drug
discovery programs
Tripos, using its LeadHopping technology,
also will create compound libraries; terms
of the multiyear deal were not disclosed
(2/7)
VASTox plc
(UK; AIM:VOX)
Undisclosed
company
VASTox will target drugs to
specific organs and cell types
through the use of sugars
VASTox will perform the work under a
nine-month fee-for-service deal with the
unnamed European company (2/23)
Vertex
Avalon
Pharmaceuticals Pharmaceuticals
Inc. (VRTX)
Inc.*
Avalon gained exclusive rights
to develop and sell VX-944,
a Phase I IMPDH inhibitor,
for treating various cancers
Vertex will get up to $73M in up-front and
milestone payments, and royalties on any
sales; Vertex also has certain co-promotion
rights in the U.S. and Europe (2/15)
ViaCell Inc.
(VIAC)
Genzyme Corp.
(GENZ)
Collaboration related to use
of islet stem cells for
treating diabetes
The companies will conduct preclinical
research in the area; terms of the deal
were not disclosed (3/15)
Xenova Group
plc (UK; XNVA)
Oxxon
Therapeutics
Inc.*
Oxxon got rights to use
Xenova’s DISC-HSV Vector in
various indications in oncology
and infectious diseases
The deal is worth up to $83M to Xenova in
up-front and milestone payments, in addition to royalties on any sales; Oxxon also
could get additional rights for additional
payments; Xenova keeps rights for the prophylaxis of herpes virus diseases (1/13)
Cambridge Biostability
licensed rights to Acambis’
enterotoxigenic E. coli vaccine
against travelers’ diarrhea
Acambis retained an option for an exclusive license to market the vaccine, HolaVaxETEC, in North America; terms of the deal
were not disclosed (5/10)
SECOND QUARTER
Acambis plc
(UK; ACAM)
Cambridge
Biostability Ltd.*
(UK)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
269
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Access
Hunter-Fleming
Pharmaceuticals Ltd.* (UK)
Inc. (AMEX:AKC)
Collaboration for the oral
delivery of a drug candidate
for Alzheimer’s disease
They will combine Access’s vitamin B-12 oral
delivery technology with Hunter-Fleming’s
Oligotropin (HF0420); terms of the deal
were not disclosed (5/12)
ActiveSight*
Lexicon
Pharmaceuticals
Inc. (LEXG)
ActiveSight will perform
crystallography services for
Lexicon
The deal extends the co-crystallography of
Lexicon’s small-molecule compounds to a
second drug-target protein validated by
Lexicon and expressed by ActiveSight;
terms were not disclosed (4/27)
Aegis
Therapeutics
LLC*
Intranasal
Technology
Inc.*
Expanded a deal to
apply Aegis’ Intravail delivery
technology to intranasal
heparin and beta-interferon
Terms of the deal were not disclosed (6/20)
Affitech A/S*
(Norway)
Undisclosed UKbased company
The unnamed company gets
rights to use the Protein L
gene as well as vectors and
know-how of Protein L
production
The nonexclusive license covers use with
research and preclinical development;
terms of the deal were not disclosed (5/31)
AlgoNomics
NV* (Belgium)
Genmab A/S
(Denmark; CSE:GEN)
Genmab got rights to access
AlgoNomics’ Epibase platform
for T-cell epitope identification
Genmab will use the technology in validation of antibody leads; terms of the threeyear deal were not disclosed (5/12)
Alkermes
Inc. (ALKS)
Cephalon
Inc. (CEPH)
Agreement for the commercialization of Vivitrex; Alkermes
filed an NDA for the alcoholdependence drug in March
Alkermes gets $160M in cash up front; it
would get $1 10M more upon FDA approval
and could get up to another $220M in
sales-based milestones; they would share
profits on a 50-50 basis (6/24)
Alnylam
Ambion Inc.*
Pharmaceuticals
Inc. (ALNY)
Ambion got rights to provide
research products and services
under Alnylam’s KreutzerLimmer patent family
The patents cover short interfering RNAs
and their use to mediate RNAi in mammalian cells; terms of the nonexclusive license
were not disclosed (6/8)
Alnylam
Benitec Ltd.
Pharmaceuticals (Australia; ASX:BLT)
Inc. (ALNY)
Benitec and its licensees got
an option to nonexclusively
license Alnylam-controlled IP
in the field of expressed RNA
interference
Alnylam would receive license fees and be
entitled to milestone royalty payments on
covered products; it also got reciprocal
options on Benitec IP for expressed RNAi
and synthetic siRNAs (4/12)
Ambion Inc.*
Cepheid got nonexclusive
rights to incorporate Armored
RNA technology in its in vitro
molecular diagnostic products
The Ambion Diagnostics division will manufacture custom reagents for Cepheid;
terms of the deal were not disclosed (4/1 1)
270
Company*
(Country;
Symbol)
Cepheid Inc.
(CEPH)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Amrad Corp.
Ltd. (Australia;
ASX:AML)
Serologicals
Corp. (SERO)
Serologicals subsidiary
Chemicon International got
additional rights to develop
embryonic stem cell products
into more kits and products
The expanded deal also included the Walter
Eliza Hall Institute of Medical Research;
the initial 1999 license covering leukemia
inhibitory factor now includes non-therapeutic uses; terms were not disclosed (4/5)
AnalytiCon
Bionaut
Discovery
Pharmaceuticals
GmbH* (Germany) Inc.*
Collaboration to identify anticancer compounds that inhibit
the ability of tumor cells to
survive stress conditions
Bionaut will provide and validate compounds that have shown activity; AnalytiCon will optimize them for further preclinical development by Bionaut; terms of the
deal were not disclosed (4/14)
Angiotech
Histogenics
Pharmaceuticals Corp.*
Inc. (Canada; ANPI)
Histogenics got rights to use
the biomaterial ChondroGEL
in cartilage, ligament, meniscus
and/or tendon repair
Angiotech gets warrants to purchase
Histogenics shares and would share any
resulting revenue; it also retains all drugloaded rights to ChondroGEL (6/2)
Angiotech
Broncus
Pharmaceuticals Technologies
Inc. (Canada; ANPI) Inc.*
Broncus got rights to use
Angiotech’s Paclitaxel technology with its Exhale system
for treating emphysema
Angiotech gets warrants to purchase
Broncus preferred stock and would get
royalties on sales of resulting products
(6/2)
Array
BioPharma Inc.
(ARRY)
Genentech
Inc. (NYSE:DNA)
They expanded collaboration
to develop small-molecule
drugs against an additional
protein target in oncology
Array gets additional research funding, as
well as potential milestone and royalty
payments; the January 2004 deal covered
two Array oncology programs; Genentech
has rights to resulting products (4/7)
Asinex Ltd.*
(Russia)
Galapagos NV
(Belgium;
Euronext:GLPG)
Collaboration to optimize
leads for Galapagos’ validated
bone and joint disease drug
targets
Asinex will use its computational chemistry
and compound libraries to generate new
leads; then they will design and optimize
the lead structures; terms were not disclosed (5/12)
Atugen AG*
(Germany)
Xantos
Biomedicine
AG* (Germany)
Atugen will use its siRNA
technology to validate a
Xantos angiogenic compound
in animal studies
Terms of the deal were not disclosed
(4/15)
Collaboration to discover
and develop small-molecule
drugs in the area of
inflammatory disease
Avalon will identify lead compounds; MedImmune has all other responsibilities;
Avalon gets an up-front payment, R&D support and potential milestone and royalty
payments (6/20)
Avalon
MedImmune
Pharmaceuticals Inc. (MEDI)
Inc.*
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
271
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
BioMarin
Pharmaceutical
Inc. (BMRN)
Serono SA
(Switzerland;
NYSE:SRA)
Collaboration to further
develop and commercialize
two BioMarin products,
Phenoptin and Phenylase, for
treating phenylketonuria
and possibly other diseases
BioMarin gets $25M up front and up to
$232M in milestone payments based on the
registration of both products in multiple
indications, as well as royalties on sales;
Serono gets exclusive rights outside the
U.S. and Japan (5/16)
BioRap
Technologies
Ltd.* (Israel)
BioLineRx Ltd.*
(Israel)
BioLineRx licensed BL-2030,
a soluble receptor that
targets cancer cells
Terms of the exclusive, worldwide license
were not disclosed (6/20)
BioWa Inc.*
Medarex Inc.
(MEDX)
Medarex got a second license
to BioWa’s Potelligent technology for enhancing antibodydependent cellular cytotoxicity
BioWa gets license fees and could receive
milestone payments and product royalties;
Medarex has nonexclusive rights to develop
antibodies for an undisclosed number of
targets (5/24)
Calando
Benitec Ltd.
Pharmaceuticals (Australia; ASX:
Inc. (majorityBLT)
owned by Arrowhead Research
Corp.; ARWR)
Benitec got exclusive rights
to use polymeric nucleic acid
delivery technology with its
RNAi-based therapeutic for
hepatitis C virus
Calando gets an up-front payment and
potential milestone and royalty payments
related to the HCV drug (6/21)
Caliper Life
Sciences Inc.
(CALP)
Affymetrix
Inc. (AFFX)
Affymetrix got nonexclusive
rights to use Caliper’s microfluidics technology with GeneChip microarray technologies
The deal covers all GeneChip applications;
Caliper gets an up-front license fee and
royalties on future sales covered under the
deal (4/25)
Caliper Life
Sciences Inc.
(CALP)
Amphora
Discovery Corp.*
Amphora agreed to purchase
a certain amount of LabChip
products over two years
Terms of the deal were not disclosed (4/14)
Cambridge
Antibody
Technology
Group plc
(UK; CATG)
BioInvent
International AB
(Sweden; SSE:BINV)
BioInvent got rights to use
CAT’s antibody phage-display
technology to develop
products from its n-CoDeR
antibody libraries
CAT gets an initial license fee and future
payments that depend on how many antibodies BioInvent and its partners develop
using the technology; CAT also is entitled
to milestone and royalty payments; as part
of the deal BioInvent withdrew its opposition to CAT patents filed in Europe (6/3)
Service agreement in the
field of structure-based drug
design
Carna and Crystal will provide services to
Rigel under undisclosed terms (6/20)
Carna
Rigel
Biosciences
Pharmaceuticals
Inc.* (Japan) and
Inc. (RIGL)
Crystal Genomics
Inc. (South Korea)
272
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Cellectis SA*
(France)
Xenogen Corp.
(XGEN)
Xenogen got a nonexclusive
license to a patent covering
replacement or insertion of a
gene in an eukaryotic genome
Xenogen will use the technology for creating knock-in mice; terms of the deal
were not disclosed (6/29)
Cellectis SA*
(France)
Celliance (unit
of Serologicals
Corp.; SERO)
Celliance will evaluate
Cellectis’ Meganuclease
Recombination System
The goal is to develop a new generation of
cell lines; terms of the deal were not disclosed (5/31)
Cell Signaling
Technology
Inc.*
Chiron Corp.
(CHIR)
CST will perform a pilot
project for Chiron using its
PhosphoScan technology
The goal is to identify phosphorylation
sites and prospective biomarkers of protein
tyrosine kinase targets; terms of the deal
were not disclosed (6/1)
Cell
Therapeutics
Inc. (CTIC)
Cephalon
Inc. (CEPH)
Cephalon acquired Trisenox
(arsenic trioxide), a product
approved for treating acute
promyelocytic leukemia
CTI gets $70M in cash and up to $100M
more if certain sales and regulatory milestones are achieved; Cephalon also got
rights to a joint proteasome inhibitor
research program and would pay royalties
on any resulting sales from that program;
Cephalon will offer jobs to CTI commercial
employees (6/13)
CeNeS
Tripos Inc.
Pharmaceuticals (TRPS)
plc (UK; AIM:CEN)
They entered a new deal to
continue a collaboration
to advance discovery of
COMT inhibitors
They already have identified series of compounds active against the target catecholO-methyltransferase; now they will optimize those compounds (4/14)
ChemBridge
Research
Laboratories
Inc.*
Trimeris Inc.
(TRMS)
Collaboration to discover and
develop small-molecule HIV
entry inhibitors, targeting
gp41 and gp120
CRL gets funding to support medicinal
chemistry efforts and is eligible to receive
milestone payments and sales royalties;
Trimeris assumes development and commercial responsibilities (6/13)
ChemDiv
Inc.*
Dendreon
Corp. (DNDN)
They expanded and extended
deal under which ChemDiv
supplies chemistry services
to Dendreon
The services support Dendreon’s discovery
programs for targeted cancer therapies;
terms of the deal were not disclosed (4/1)
Chiron Corp.
(CHIR)
Enanta
Pharmaceuticals
Inc.*
Exclusive deal to develop and
commercialize Chiron’s
portfolio of hepatitis C virus
protease inhibitors
Chiron is entitled to milestone and royalty
payments and retains certain co-development and commercialization opt-in rights,
excluding Asia; Enanta also got nonexclusive
rights to certain HCV technology (5/19)
CiVentiChem
LLC*
Tranzyme
Pharma Inc.*
CiVentiChem will provide
medicinal chemistry and
other services for Tranzyme
The goal is to advance development of
Tranzyme’s small-molecule products; terms
of the deal were not disclosed (6/29)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
273
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Compugen Ltd.
(Israel; CGEN)
Biosite Inc.
(BSTE)
Biosite got rights to develop
immunoassay-based
diagnostics using biomarkers
discovered by Compugen
Compugen is entitled to milestone payments and royalties from resulting products; Compugen retains therapeutic rights,
and would pay Biosite milestones and royalties on those products (6/20)
Corixa Corp.
(CRXA)
Panbio Ltd.
(Australia; ASX:PBO)
Panbio acquired technology
to help in the development
of assays for the diagnosis of
two tick-borne diseases
Corixa gets an up-front payment, annual
maintenance payments and royalties on
any resulting product sales (4/12)
Cortendo
Invest AB*
(Sweden)
DiObex Inc.*
DiObex licensed worldwide
rights to inhibitors of cortisol
synthesis
The technology has applications in metabolic diseases; terms of the deal were not
disclosed (4/1 1)
Crucell NV
(the Netherlands;
CRXL)
Medarex Inc.
(MEDX)
Program to optimize the
application of Crucell’s STAR
technology in bioreactor
culture
The program will be performed with a fully
human antibody developed using Medarex’s UltiMAb technology; terms were not
disclosed (6/1)
Curis Inc.
(CRIS)
Genentech
Inc. (NYSE:DNA)
Collaboration to develop
small-molecule modulators of
an undisclosed pathway
involved in cell proliferation;
the pathway is a regulator
of tissue formation and repair
Curis gets an up-front license fee of $3M and
up to $6M more over two years in research
support; Curis also could get milestone and
royalty payments; the deal, excluding royalties, could be worth $140M to Curis if two
products are developed in two indications
each; Curis also retains certain rights (4/4)
Cytomyx
Holdings plc*
(UK)
Biomoda Inc.*
Cytomyx will provide human
clinical samples for Biomoda’s
program to develop diagnostics
The samples will support validation work
on Biomoda’s products for detection and
targeted treatment of certain cancers;
terms of the deal were not disclosed (5/3)
Cytos
Biotechnology
AG (Switzerland;
SWX:CYTN)
Medarex Inc.
(MEDX)
They expanded the scope of
a November 2002 deal focused
on drug targets for immunological diseases to include
targets in other areas of
interest
Cytos gets an up-front payment, and can
earn license fees, milestones and royalties;
Medarex gets exclusive rights for monoclonal antibodies against the targets and
the first right of negotiation for use of the
targets in small-molecule drug discovery
and as protein therapeutics (4/1)
Definiens AG*
(Germany)
Cenex BioScience
AG* (Germany)
They formalized an ongoing
relationship through the
signing of a licensing and
co-marketing agreement
They will work together in the area of highcontent screening on a worldwide, nonexclusive basis; terms of the deal were not
disclosed (5/9)
274
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Depomed Inc.
(DEPO)
New River
Pharmaceuticals
Inc. (NRPH)
Deal to use Depomed’s oral
Gastric Retention delivery
technology with New River
drug compounds
New River may acquire rights to use the
technology in up to three compounds;
Depomed would get an initial payment and
potential milestone and royalty payments
for each compound advanced (6/6)
Dharmacon
Inc. (unit of
Fisher
Biosciences)
Millennium
Pharmaceuticals
Inc. (MLNM)
Dharmacon will deliver a
genome-wide siRNA library
covering about 22,000 human
genes to Millennium
The library will enable high-throughput
functional genomic studies for target identification and validation; terms of the deal
were not disclosed (5/5)
Diabetogen
Biosciences
Inc.* (Canada)
TolerRx Inc.*
TolerRx acquired rights to
the therapeutic use of antiCD3 antibodies in
autoimmune diseases
TolerRx also got rights to a panel of fully
human anti-CD3 antibodies under a licensing agreement between Diabetogen and
Abgenix Inc.; terms of the deal were not disclosed (4/4)
Dimerix
Bioscience Pty.
Ltd.* (Australia)
Starpharma
Holdings Ltd.
(Australia; ASX:SPL)
They entered a joint venture
focused on dendrimer-based
GPCR drug discovery and
development
The venture will use Dimerix’s Collision
technology in the effort; Starpharma
formed Dimerix and holds a 30% stake in
the start-up company (5/1 1)
Encysive
Revotar BioPharmaceuticals pharmaceuticals
Inc. (ENCY)
AG (Germany;
majority owned
by Encysive)
Deal under which Revotar
would license bimosiamose
and certain follow-on
compounds
The deal is contingent on Revotar’s other
stockholders investing additional capital
in Revotar, which would reduce Encysive’s
ownership to about 14%; Encysive would
get royalties on sales (4/26)
EndoBiologics
International
Corp.*
VaxGen Inc.
(PK:VXGN)
Collaboration for research of
a vaccine against meningitis
serogroup B, using technology
developed by EndoBiologics
VaxGen will fund proof-of-concept studies
for a year; if it then exercises its option,
VaxGen would provide additional research
funding, while EndoBiologics would be entitled to milestone and royalty payments
(5/4)
Enlyton Ltd.*
Neoprobe Corp.
(OTC BB:NEOP)
Neoprobe licensed two
patents that are related
to its RIGS technology
The deal provides Neoprobe with an
extension of methodology patent protection for the technology; terms were not
disclosed (4/5)
Epigenomics
AG (Germany;
FSE:ECX)
Qiagen NV
(the Netherlands;
QGEN)
Deal to develop a preanalytical
solution portfolio for DNA
methylation analysis
The goal of the collaboration is to develop
diagnostic kit components; Epigenomics
gets up-front technology access and license
fees, as well as royalties on all research
product sales (5/2)
Essential
Science Ltd.*
(UK)
Prolysis Ltd.*
(UK)
They extended collaboration
on advancing Prolysis’ bacterial
cell biology and antibiotic
development programs
They now will focus on out- or in-licensing
opportunities; terms of the deal were not
disclosed (6/17)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
275
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Europroteome
AG* (Germany)
Miraculins Inc.
(Canada; TSE:MOM)
Miraculins purchased all rights
to a number of patents and
discoveries related to the
diagnosis and treatment of
cancers
Europroteome is in receivership; Miraculins
has no further milestone or royalty obligations in the deal (6/22)
Europroteome
AG* (Germany)
Genmab A/S
(Denmark; CSE:GEN)
Genmab acquired all rights to
16 potential targets to treat
non-steroid-dependent cancers
of epithelial cell origin
There are no milestone or royalty obligations in the deal; Europroteome is in insolvency proceedings (5/18)
Evolva Biotech
SA* (Switzerland)
AnalytiCon
Discovery GmbH*
(Germany)
Collaboration to generate and
optimize nuclear receptor
agonists and related
compounds
Evolva will create and optimize the agonists; AnalytiCon will de-replicate, identify
and scale-up the compounds; terms of the
deal were not disclosed (6/30)
Exelixis Inc.
(EXEL)
Genentech
Inc. (NYSE:DNA)
Collaboration to discover and
develop therapeutics targeting
cancer, inflammatory diseases
and tissue growth and repair;
the work focuses on the Notch
pathway
Exelixis gets up-front and three years of
R&D funding totaling $16M; it also is entitled to milestone and royalty payments;
Exelixis also has an option to share part of
the costs and profits for certain products
(6/3)
Galapagos NV
(Belgium;
Euronext:GLPG)
Celera
Genomics Group
(NYSE:CRA)
Galapagos will provide
technology and adenoviral
reagents for Celera research
Galapagos will construct recombinant adenoviruses harboring genes selected by
Celera; it will receive undisclosed payments for the work (6/20)
Genaissance
ParAllele
Pharmaceuticals BioScience Inc.*
Inc. (GNSC)
License and co-marketing
agreement to provide genetic
screening technology and
services
ParAllele is licensing more than 400 SNPs
from Genaissance and combining them
with certain public-domain SNPs in an assay
panel; Genaissance will be the first company
to offer the panel for research uses (4/6)
GeneGo Inc.*
Exelixis Inc.
(EXEL)
Exelixis licensed GeneGo’s
MetaCore technology
The platform is used in drug discovery;
terms of the deal were not disclosed (5/13)
Genmab A/S
(Denmark; CSE:
GEN)
Serono SA
(Switzerland;
NYSE:SRA)
Serono got worldwide rights
to Genmab’s HuMax-TAC, a
fully human monoclonal
antibody being developed
for T-cell-mediated diseases
Genmab gets an up-front payment of $2M
and is entitled to milestone payments of up
to $38M, as well as royalties on sales from
any resulting products; the product is in
the preclinical stage (5/2)
Geron Corp.
(GERN)
Exeter Life
Sciences Inc.*
They formed a new company
named stART Licensing Inc.
for licensing animal cloning
technologies
The portfolio includes nuclear transfer
cloning technology developed at the Roslin
Institute; Exeter will provide additional capital for the effort, and own 50.1% of the
company; Geron also can get up-front and
milestone payments (4/6)
276
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Icoria Inc.
(ICOR)
Vesta
Therapeutics
Inc.*
Deal under which Icoria will
profile Vesta’s adult human
liver-derived stem/progenitor
cells
In return, Icoria will gain access to clinical
liver samples for use in validating biomarkers and drug targets (4/27)
Icoria Inc.
(ICOR)
Admet
Technologies
Inc.*
Icoria will characterize
Admet’s human adult
hepatocytes to improve
their value as a predictive
toxicology screening tool
Admet will use the information to identify
cells that could be used in toxicology
assays; Icoria retains rights to develop any
resulting novel diagnostic biomarkers
(4/19)
ImmunoGen
Inc. (IMGN)
Genentech
Inc. (NYSE:DNA)
They renewed May 2000
agreement giving Genentech
certain rights to use
ImmunoGen’s TumorActivated Prodrug technology
Genentech paid $2M to renew the deal
for three years; the original deal was for
five years (5/2)
ImmunoGen
Inc. (IMGN)
Genentech
Inc. (NYSE:DNA)
Genentech licensed rights to
use Tumor-Activated Prodrug
technology with therapeutic
antibodies for an undisclosed
target
ImmunoGen gets a $1M license payment
and is entitled to milestone and royalty
payments; the exclusive deal stems from
a pact in 2000 giving Genentech rights to
test the technology against certain targets
(4/28)
Ingenuity
Systems Inc.*
Serono Genetics
Institute (France;
unit of Serono SA;
NYSE:SRA)
Serono licensed the Pathways
Knowledge Base for use in
developing drug discovery
and development tools
Serono also licensed the Pathways Analysis
application; terms of the deal were not
disclosed (6/14)
InterMune
Inc. (ITMN)
Three Rivers
Pharmaceuticals
LLC*
Three Rivers acquired
worldwide ownership of
Amphotec/Amphocil (lipidbased amphotericin B)
The product is indicated for treating invasive aspergillosis; terms of the deal were
not disclosed (5/24)
Intradigm
Corp.*
Acuity
Pharmaceuticals
Inc.*
Acuity got exclusive rights to
Intradigm’s technology for
topical and systemic drug
delivery for ophthalmic uses
They also will collaborate to develop topical formulations of Acuity’s Cand5 compound; Acuity exclusively licensed
rights to Intradigm’s siRNA ophthalmic
discovery technologies; the deal includes
up-front payments and potential milestones and royalties to Intradigm (6/9)
Invitrogen
Corp. (IVGN)
Plexxikon Inc.*
Invitrogen will provide
kinase screening services on
Plexxikon kinase inhibitor
libraries
Plexxikon intends to develop drugs for
oncology, inflammation and other diseases;
terms of the service agreement were not
disclosed (4/6)
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277
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Kalypsys Inc.*
NovImmune SA*
(Switzerland)
Collaboration to discover and
develop small-molecule modulators of the major histocompatibility complex II for
treating autoimmune and
inflammatory diseases
They will pair Kalypsys’ screening technology, chemical library and small-molecule
capabilities with NovImmune’s expertise in
immunoregulation and MHC Class II-associated biology; terms were not disclosed
(6/16)
Lexicon
Genetics Inc.
(LEXG)
XOMA Ltd.
(XOMA)
Collaboration to jointly
develop and market antibody
drugs for certain targets
discovered by Lexicon
Lexicon will submit targets and XOMA will
generate antibodies to them; costs and
profits will be allocated 65% to Lexicon and
35% to XOMA; XOMA will have manufacturing responsibility (6/21)
Luminex Corp.
(LMNX)
Digene Corp.
(DIGE)
Digene gained access to
Luminex’s xMAP bead-based
multiplexing technology for use
in women’s health diagnostics
Digene intends to commercialize in vitro
clinical diagnostic tests under the nonexclusive license; terms of the deal were
not disclosed (5/5)
Medarex Inc.
(MEDX)
Genmab A/S
(Denmark; CSE:GEN)
Genmab licensed European
and Asian rights to use
UltiMAb technology in antibodies raised against the CD4
antigen, including HuMax-CD4
Medarex gets $2M up front and is entitled
to milestone and license fee payments up
to $12.5M; it also would get royalties that
could reach double digits; Genmab now has
worldwide rights to HuMax-CD4 (6/30)
Medicago
Inc.*
InterveXion
Therapeutics
Inc.*
Deal to use Medicago’s Proficia
Protein Technology to produce
monoclonal antibodies
designed to treat drug abuse
Medicago would get milestone payments
to produce the phencyclidine (PCP) antibody; an expanded deal to include another
antibody is expected (6/6)
Mera
Rincon
Pharmaceuticals Pharmaceuticals
Inc. (OTC BB:MRPI) Inc.*
Collaboration to demonstrate
the scalability and economics
of using microalgae as a
protein expression system
Mera will use its technology to perform
pilot studies on up to six antibodies; Rincon
has an option to use the technology to
develop its own production capability;
terms were not disclosed (5/12)
MorphoSys
AG (Germany;
FSE:MOR)
Jerini AG*
(Germany)
Co-marketing deal between
MorphoSys division
Antibodies by Design and
Jerini subsidiary JPT Peptide
Technologies GmbH
They will co-market monoclonal antibodies
generated by Antibodies by Design and the
complementary peptide-based services
and products from JPT; each will offer the
services of the other (4/18)
Morphotek
Inc.*
Amgen Inc.
(AMGN)
Morphotek will apply its
technology to Amgen cell
lines to develop high-titer
antibody-producing cell lines
Morphotek gets research payments and
is entitled to milestone payments in the
deal, which is focused on producing cell
lines for scalable manufacturing (4/18)
Mutabilis SA*
(France)
Chiron Corp.
(CHIR)
Chiron Vaccines licensed
rights to use Mutabilis technology in development of
a prophylactic vaccine
Mutabilis is entitled to license fees, milestone payments and royalties on any sales;
the target was not disclosed (4/1 1)
278
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Myriad
Genetics Inc.
(MYGN)
Salmedix Inc.*
Salmedix got exclusive rights
to use the single R-enantiomer
of etodolac
The license provides additional protection
to Salmedix for its cancer candidate SDX-101;
Myriad gets $2.5M up front and is entitled
to milestone and royalty payments (5/24)
NanoCarrier
Co. Ltd.* (Japan)
Debiopharm
SA* (Switzerland)
Debiopharm got an option to
license a DACH Platin Medicelle
platinum-based compound for
oncology applications
Debiopharm will fund product development; NanoCarrier is entitled to receive
milestone payments and royalties on any
sales (4/21)
Nanogen Inc.
(NGEN)
DeCode
Genetics Inc.
(Iceland; DCGN)
Nanogen will provide a new
genomics assay for single
nucleotide polymorphism
discovery and screening
Terms of the supply and license agreement
were not disclosed (4/18)
Neovacs SA*
(France)
Debiopharm
SA* (Switzerland)
Collaboration to develop
Neovacs’ tumor necrosis
factor alpha kinoid and
related programs
Debiopharm will fund the program and
make up-front and milestone payments in
cash and equity; Neovacs also would be
entitled to royalties on sales (6/27)
NovImmune
SA* (Switzerland)
Serono SA
(Switzerland;
NYSE:SRA)
Serono got worldwide rights
to two fully human monoclonal
antibodies, NI-0401 and NI-0501,
which may have potential in
autoimmune diseases
NovImmune gets a $5M license fee, a $6M
equity investment and a convertible loan
of up to $6M; it also could get up to $105M
in milestone payments, as well as royalties
on sales (5/17)
Nuevolution
A/S* (Denmark)
Biovitrum AB*
(Sweden)
Nuevolution will use its
Chemetics technology to
discover new drug leads
against a Biovitrum target
Nuevolution is entitled to certain milestone
payments and a share of any future product sales (6/13)
OncoMethylome
Sciences SA*
(Belgium)
Exact Sciences
Corp. (EXAS)
Deal to evaluate certain gene
methylation markers for use
with Exact’s colon cancer
screening technology
The markers were identified at Johns
Hopkins University and are exclusively
licensed to OncoMethylome; terms of the
deal were not disclosed (6/7)
OriGene
Technologies
Inc.*
Regeneron
Pharmaceuticals
Inc. (REGN)
Regeneron got a license to
OriGene’s TrueClone collection
of full-length human cDNAs
Regeneron will use the technology in its
protein expression and target validation
platforms; terms were not disclosed (4/27)
Penwest
Prism
Pharmaceuticals Pharmaceuticals
Co. (PPCO)
Inc.*
Prism got exclusive rights to
market Penwest’s beta-blocker
PW2101 in the U.S. and Canada
The product is under review by the FDA for
treating hypertension and angina; Penwest
got $4M up front and would get $9.5M in
milestones if the product was approved by
Dec. 31, 2005; Penwest would get royalties
of 15% to 18% (4/27)
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Pharming
Group NV
(the Netherlands;
Euronext: PHARM)
AgResearch Ltd.*
(New Zealand)
Partnership under which
AgResearch will produce
recombinant human lactoferrin
for Pharming
AgResearch got a research license to
technology for producing recombinant proteins; Pharming will have the first right to
review products from AgResearch’s protein
discovery and R&D projects (6/30)
Prostagenics
LLC*
Innovate
Oncology Inc.
(OTC BB:IOVO)
Innovate acquired rights to
capridine-beta, a nitroacridine
derivative, for treating
prostate cancer
Phase I trials for the drug are being
planned; terms of the deal were not disclosed (4/8)
Protein Design
Labs Inc. (PDLI)
Genentech
Inc. (NYSE:DNA)
Genentech sublicensed rights
to antibody-drug conjugate
technology against the PR1
antigen, which has applications in prostate cancer
PDL, which got certain sublicensing rights
from Seattle Genetics Inc., is entitled to an
up-front licensing fee along with potential
milestone and royalty payments (6/22)
Protein Design
Labs Inc. (PDLI)
Seattle
Genetics Inc.
(SGEN)
Seattle Genetics got exclusive
rights to PDL’s anti-CD33
program for both unconjugated
antibody and antibody-drug
conjugate applications
PDL gets an up-front fee and is entitled to
milestone and royalty payments; the preclinical program has applications in cancer;
also, royalties payable by PDL under an
existing collaboration were reduced (4/13)
Provid
Immune
Pharmaceuticals Control Inc.*
Inc.*
Collaboration to develop lead
compounds for diseases with
immunological causes
Provid will use its technologies to develop
the lead compounds; terms of the deal were
not disclosed (6/17)
QLT Inc.
(Canada; QLTI)
VasoGenix
Pharmaceuticals
Inc.*
Deal to develop a sustainedrelease formulation of VasoGenix’s calcitonin generelated peptide
QLT will develop the delivery system for
CGRP; VasoGenix has the option to acquire
an exclusive worldwide royalty-bearing
license to the product (4/1 1)
Quadrant Drug
Delivery Ltd.*
(UK)
CoTherix Inc.
(CTRX)
Deal to develop an
extended-release formulation
of CoTherix’s Ventavis
The product is approved for treating pulmonary arterial hypertension; terms of the
deal were not disclosed (4/5)
ReOx Ltd.*
(UK)
Unnamed U.S.based company
Deal to co-develop drugs
targeting cellular oxygen
regulation through the
transcription factor hypoxia
inducible factor
ReOx is getting $9M up front and is entitled
to research funding, milestone payments
and royalties on any resulting sales; the
research has applicability in a number of
diseases (4/18)
RheoGene
Inc.*
TissueGene
Inc.*
Research and license agreement to develop regulated cell
therapy treatments for bone
restoration and repair
The effort will combine TissueGene’s cell
therapy technology and RheoGene’s RheoSwitch Therapeutic System to develop nonsurgical treatments for non-union bone
fractures, bone wounds and osteoporosis
(4/19)
280
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Seattle
Genetics Inc.
(SGEN)
Progenics
Pharmaceuticals
Inc. (PGNX) and
Cytogen Corp.
(CYTO)
PSMA Development Co.
got rights to use antibodydrug conjugate technology
for targeting prostatespecific membrane antigen
PSMA Development Co. is a joint venture
between Progenics and Cytogen; Seattle
Genetics gets a $2M access fee, annual
maintenance fees and research support
payments, as well as potential milestones
and royalties (6/20)
Seattle
Genetics Inc.
(SGEN)
MedImmune
Inc. (MEDI)
MedImmune got rights to use
antibody-drug conjugate
technology with antibodies
against a single tumor target
Seattle Genetics gets $2M up front and
annual maintenance fees and is entitled to
milestone and royalty payments; MedImmune also has an option to access the
technology for a second antibody program
for an additional fee (4/28)
Serologicals
Corp. (SERO)
CXR Biosciences
Ltd.* (UK)
Collaboration to establish a
battery of in vitro screens
for improving selection of
candidate drug molecules
Serologicals subsidiary Upstate Group will
work with CXR in the effort; terms of the
deal were not disclosed (6/22)
Sigmoid
Biotechnologies
Ltd.* (Ireland)
Inncardio
Inc. (OTC BB:INDO)
Deal to develop new formulations of established
drugs using Sigmoid’s delivery
and formulation technology
Neither the drugs nor the terms of the deal
were disclosed (4/18)
To-BBB BV*
(the Netherlands)
Genmab A/S
(Denmark; CSE:GEN)
Genmab will evaluate To-BBB’s
technology for delivering
antibodies across the bloodbrain barrier
Genmab has an option to license the technology for use with two antibodies; To-BBB
is eligible to receive milestone and royalty
payments (5/24)
TranXenoGen
Inc.*
A.C.T. Holdings
Inc. (OTC BB:ACTH)
A.C.T. and subsidiary
Advanced Cell Technology
Inc. got an option for exclusive
rights to cloning patents
Separately, A.C.T. acquired rights to a
cloning technology known as “cell fusion”
and patents related to gene trap technology; terms of the deal were not disclosed
(5/19)
Valentis Inc.
(VLTS)
Biolitec AG
(Germany;
FSE:BIB)
Biolitec got worldwide rights
to use pegylated liposomal
technology from Valentis to
develop new drug formulations
Valentis gets an up-front payment and is
eligible to receive milestone payments and
royalties on any resulting sales (6/22)
Vical Inc.
(VICL)
AnGes MG Inc.
(Japan; Tokyo:4563)
AnGes gained exclusive rights
to use Vical’s nonviral gene
delivery technology for
cardiovascular applications
The license covers DNA-based products
encoding hepatocyte growth factor; Vical
gets $1M up front, and is eligible for milestone and royalty payments (5/24)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
281
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Xantos
Biomedicine
AG* (Germany)
NascaCell IP
GmbH* (Germany)
and PSF Biotech
AG* (Germany)
The three companies formed
a consortium to identify and
develop new drugs for the
inhibition of tumor
angiogenesis
The collaboration, using an aptamer-based
approach, will integrate the technology
platforms of the three companies; the
PADDION consortium will receive initial
funding from the BioChancePlus program
of the German Federal Ministry of
Education and Research (4/13)
THIRD QUARTER
Abmaxis Inc.*
MaimoniDex
RA Ltd.* (Israel)
Deal to jointly develop a
human monoclonal antibody
for treating rheumatoid arthritis
and other inflammatory
diseases
Abmaxis will humanize and optimize the
murine antibody from MaimoniDex and be
entitled to up-front, milestone and royalty
payments (9/21)
Advancis
Pharmaceutical
Corp. (AVNC)
Undisclosed
private company
Advancis agreed to sell
U.S. rights to the Keflex brand
of cephalexin to the company
Advancis got $1M up front and expects to
get $1 1M when the deal closes, plus up to
$3M in milestone payments for the
approved antibiotic (9/15)
Aegis
Therapeutics
LLC*
Undisclosed
company
The unnamed partner licensed
rights to use Intravail delivery
technology with undisclosed
pediatric therapeutics
The Intravail technology allows intranasal
delivery of peptide and protein therapeutics; terms of the deal were not disclosed
(8/1)
Aeres
Biomedical*
(UK)
Lpath
Therapeutics
Inc.*
Deal to humanize Lpath’s
sphingomab murine antibody
The antibody has shown activity against
cancers; terms of the deal were not disclosed (9/19)
Agilix Corp.*
Protana Inc.*
Protana got a nonexclusive
license to Agilix’s i-PROT
proteomics technology
Protana will use the technology in its proteomic services, including biomarker discovery; terms were not disclosed (7/21)
Aldevron LLC*
CytoGenix Inc.
(OTC BB:CYGX)
Aldevron will test the activity
of a CytoGenix DNA vaccine
against hepatitis B
Aldevron will use use its Genetic Immunization and Antibody technology in the
effort; terms were not disclosed (8/2)
Alnylam
Qiagen NV
Pharmaceuticals (the Netherlands;
Inc. (ALNY)
QGEN)
Qiagen got nonexclusive
rights to provide research
products and services in RNA
interference
Alnylam’s Kreutzer-Limmer patent family
covers small interfering RNAs and their use
to mediate RNAi in mammalian cells; terms
of the deal were not disclosed (9/21)
Alnylam
MWG Biotech
Pharmaceuticals AG (Germany;
Inc. (ALNY)
FSE:NWUG)
MWG got nonexclusive rights
to provide research products
and services under Alnylam
RNA interference patents
Terms of the license to the KreutzerLimmer patent family were not disclosed
(7/25)
282
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Alnylam
Nastech
Pharmaceuticals Pharmaceutical
Inc. (ALNY)
Co. Inc. (NSTK)
Nastech got an exclusive
license to develop and sell
RNAi therapeutics directed
against TNF-alpha
Alnylam gets up-front and annual payments and is entitled to milestone payments and royalties on sales of covered
products (7/20)
Alnylam
Eurogentec
Pharmaceuticals SA* (Belgium)
Inc. (ALNY)
Eurogentec got nonexclusive
rights to provide research
products and services under
Alnylam RNA interference
patents
The Kreutzer-Limmer patent family covers
short interfering RNAs and their use to
mediate RNAi in mammalian cells; terms of
the deal were not disclosed (7/12)
Amgen Inc.
(AMGN)
ViaCell Inc.
(VIAC)
ViaCell licensed rights to use
recombinant human granulocyte-colony stimulating factor,
expanding an earlier deal
License covers development of a cellular
therapy product to treat hematological malignancies and genetic diseases; Amgen got a
warrant to purchase 200,000 ViaCell shares;
further terms were not disclosed (8/30)
Aphton Corp.
(APHT)
VaxGen Inc.
(VXGN)
VaxGen’s South Korean joint
venture Celltrion got rights to
the cancer antibody IGN31 1 in
certain Asian countries,
including Japan
Igeneon AG, Aphton’s subsidiary in Austria,
potentially will get $6M in milestone payments and royalties on sales; Celltrion also
will provide development and manufacturing services related to the product (7/25)
Argenta
Discovery Ltd.*
(UK)
Cellzome
Inc.*
Companies entered a drug
discovery collaboration
Argenta will apply its medicinal chemistry,
assay development and screening capabilities in the deal, terms of which were not
disclosed (8/29)
Array
BioPharma
Inc. (ARRY)
InterMune
Inc. (ITMN)
Extended and expanded
a 2002 deal to develop smallmolecule inhibitors of the hepatitis C virus NS3/4 protease
InterMune is funding preclinical efforts at
Array and would develop and sell
resulting products; Array is entitled to milestone and royalty payments (7/19)
AutoGenomics
Inc.*
Targeted
Molecular
Diagnostics LLC*
Three-year deal to develop
cancer biomarkers on the AutoGenomics Infiniti platform
Terms of the deal were not disclosed (7/27)
Axordia Ltd.*
(UK)
Serologicals
Corp. (SERO)
Exclusive deal to co-develop
antibody markers from
Axordia’s human embryonic
stem cell lines
Serologicals subsidiary Chemicon International Inc. would commercialize any
resulting antibody research tools; terms
were not disclosed (9/30)
Banyan
Biomarkers
Inc.*
Biosite Inc.
(BSTE)
Deal to review cerebrovascular
injury targets discovered with
Banyan’s animal model of
cerebral injury
Biosite may select targets that Banyan nominates, and then would make antibodies to
those targets, which would be used to
create assays; terms of the deal were not
disclosed (8/1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
283
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Cellectis SA*
(France)
Biogen Idec
Inc. (BIIB)
Cellectis will develop a custom
meganuclease recombination
system for Biogen
The system will be designed to enable
reproducible high-yield production of target proteins in mammalian cells; terms
were not disclosed (9/21)
Cellectis SA*
(France)
Ozgene Pty.
Ltd.* (Australia)
Ozgene got a nonexclusive
license to a patent covering
replacement or insertion of a
gene in a eukaryotic genome
Ozgene got rights related to the creation,
development and sales of knock-in mice;
terms of the deal were not disclosed (7/12)
ChemDiv Inc.*
Euroscreen
SA* (Belgium)
Partnership to discover and
develop drugs against GPCR
family chemokine targets
They intend to combine expertise in the
effort and share income from partnering
clinical and preclinical candidates (7/1)
Chiron Corp.
(CHIR) and
Ortho-Clinical
Diagnostics Inc.
OraSure
Technologies
Inc. (OSUR)
OraSure got nonexclusive
rights to certain patents
covering hepatitis C virus
OraSure intends to use the technology in a
diagnostic product; it will make up-front
and royalty payments for the license (8/2)
Crucell NV
(the Netherlands;
CRXL) and DSM
Biologics (the
Netherlands)
Chiron Corp.
(CHIR)
Chiron got rights to test
the PER.C6 cell line for use in
manufacturing a prophylactic
hepatitis C vaccine
candidate
Terms of the deal were not disclosed (8/16)
Crucell NV
(the Netherlands;
CRXL) and DSM
Biologics (the
Netherlands)
Symphogen
A/S* (Denmark)
Symphogen got rights to
use the PER.C6 cell line for
producing its recombinant
polyclonal antibodies
Symphogen will pay a signing fee and
annual maintenance fees; further terms
were not disclosed (7/15)
Cyclacel Group
plc* (UK)
Genzyme
Corp. (GENZ)
Genzyme got an option to
license two preclinical CDK
inhibitors for treating renal
diseases and certain related
conditions
The deal on the cyclin-dependent kinase
inhibitors does not include rights in oncology or other areas; Genzyme will evaluate
the compounds under undisclosed terms
(9/14)
DeveloGen
AG* (Germany)
Debiopharm SA*
(Switzerland)
Debiopharm got rights to
develop PTR-262, a peptide
drug for the treatment of
myasthenia gravis
Debiopharm intends to out-license the
product later; DeveloGen is entitled to
milestone and royalty payments (8/16)
DiNonA Inc.*
(South Korea)
EvoGenix Ltd.
(Australia; ASX:EGX)
EvoGenix licensed worldwide
rights to an antibody for
treating leukemia
Terms of the deal were not disclosed (9/19)
284
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
DxS Ltd.*
(UK)
Cepheid Inc.
(CPHD)
Cepheid got rights to use
Scorpions probe technology
in a number of applications
Cepheid intends to apply the technology to
industrial markets; its license excludes
clinical diagnostics, wine production and
detection of chemicals used in agriculture
(7/20)
EidogenSertanty Inc.*
Medisyn
Technologies
Inc.*
Medisyn got a license to the
Kinase Knowledgebase
from Eidogen
The product is a database of structureactivity relationships and chemical synthesis data focused on protein kinases (9/7)
Eiffel
Technologies
Ltd. (Australia;
ASX:EIF)
MAP
Pharmaceuticals
Inc.*
MAP got exclusive rights to
use Eiffel’s technology for the
pulmonary delivery of insulin
and the delivery of steroids
with or without beta agonists
Eiffel gets $0.6M to fund a specific program
of process development work; it also is
entitled to milestone payments and royalties on any resulting sales (9/22)
Evotec AG
(Germany; FSE:
EVT)
Genedata AG*
(Switzerland)
Co-marketing deal to offer
high-content and highthroughput screening
They will combine products to offer a onestop solution for potential customers (9/13)
Galapagos NV
(Belgium;
Euronext:GLPG)
Amsterdam
Molecular
Therapeutics BV*
(the Netherlands)
Collaboration to develop
treatments for acute spinal
cord and peripheral nerve
damage
The collaboration also includes the Netherlands Institute for Brain Research and the
Vrije Universiteit Amsterdam and is being
supported by a grant from the Dutch government (9/14)
GeneThera
Inc. (OTC BB:
GTHA)
Xpention
Genetics Inc.
(OTC BB:XPNG)
GeneThera will provide
research services for development of a cancer detection
test in animals and humans
Under one contract GeneThera will get
$20,000 per month for one year to develop a
test for animals; GeneThera will get $10,000
per month under a second contract to
extend the technology into human testing
(7/19)
Genmab A/S
(Denmark; CSE:
GEN)
Serono SA
(Switzerland;
NYSE:CRA)
Serono got worldwide rights
to HuMax-CD4, a fully human
monoclonal antibody for
treating T-cell lymphomas
that’s in Phase III trials
Genmab gets a $20M license payment and
a $50M equity investment from Serono at a
premium; Genmab could get up to $145M
more in regulatory and sales milestones, as
well as royalties on resulting sales (8/18)
Hyalose LLC*
Meditech
Research Ltd.
(Australia; ASX:MTR)
Collaboration to evaluate
hyaluronic acid molecules for
their ability to act as targeting
agents in drug delivery systems
The HA molecules are produced using
recombinant technology developed at the
University of Oklahoma and licensed to
Hyalose; terms of the deal were not disclosed (7/7)
Iconix will provide chemogenomic analyses on candidate
compounds from Neurocrine
Iconix will apply its DrugMatrix technology
to at least 12 Neurocrine compounds; terms
of the deal were not disclosed (7/12)
Iconix
Neurocrine
Pharmaceuticals Biosciecnes
Inc.*
Inc. (NCRX)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
285
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Icoria Inc.
(OTC BB:ICOR)
Unnamed
company
Icoria will provide microarray
expression services to the
undisclosed company
Services under the contract will be performed by Icoria’s gene expression profiling unit Paradigm Array Labs (9/8)
Icoria Inc.
(ICOR)
Isis Pharmaceuticals Inc. (ISIS)
Agreement to identify
biomarkers of toxicity in
animal models
Icoria will use its metabolomics platform
to characterize differences in biochemical
profiles between treated and untreated
animal subjects and to identify those
biochemicals that are specifically affected
by treatment (8/23)
ImmunoGen
Inc. (IMGN)
Genentech Inc.
(NYSE:DNA)
Genentech got exclusive rights
to use ImmunoGen’s TumorActivated Prodrug technology
with antibodies to an
undisclosed target
ImmunoGen gets a $1M license payment
and is entitled to milestone and royalty
payments; Genentech now has taken
three licenses to the TAP technology (7/26)
Institute of
Cell Therapy*
(Ukraine)
Stem Cell
Therapy
International Inc.
(OTC BB:ATYD)
Stem Cell got global rights
for the supply of stem cells
and the use of 26 related
patents
Terms of the deal were not disclosed (9/19)
Isis
iCo Therapeutics
Pharmaceuticals Inc.*
Inc. (ISIS)
iCo got exclusive rights to
develop and sell ISIS 13650, a
second-generation antisense
drug
Isis gets cash and a note convertible
into iCo equity up front, along with potential milestone and royalty payments; the
drug initially will be developed for eye
diseases (8/25)
Jurilab Ltd.*
(Finland)
Nanogen Inc.
(NGEN)
Nanogen acquired certain rights
to develop diagnostic products
based on genes and markers
discovered by Jurilab; it also will
distribute Jurilab’s pharmacogenomic products and services
Nanogen made a €1.25M investment for a
stake of less than 20% in Jurilab and will
invest that much again in six months;
Nanogen also got an option to purchase
all of Jurilab; terms were not disclosed
(7/26)
Key Organics
Ltd (UK)
Reaction
Biology Corp.*
They created a joint venture
to engage in high-throughput
drug discovery
The plan is to identify potential drug compounds and then to partner or sell them to
pharmaceutical companies (8/29)
Large Scale
Biology Corp.
(LSBC)
BioCatalytics
Inc.*
Collaboration to apply their
technologies to develop
improved enzymes for
chemical synthesis
LSBC gets a license fee for use of its proteinimprovement technologies and would get
royalties on any resulting sales (8/17)
Medarex Inc.
(MEDX)
ImClone
Systems Inc.
(IMCL)
ImClone licensed rights to
use Medarex’s UltiMAb
system to develop human
antibody product candidates
Medarex will get license fees and could
receive milestone and royalty payments
from resulting products (9/12)
286
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Medicago Inc.*
(Canada)
Acambis plc
(UK; ACAM)
Deal to evaluate the expression
of recombinant vaccines using
Medicago’s plant-based Proficia
system
Medicago is entitled to milestone payments
in the deal (9/27)
Mimitopes Pty.
Ltd. (Australia;
unit of PharmAust
Ltd.; ASX:PAA)
Phylogica Ltd.
(Australia; ASX:PYC)
Partnership to pool technologies to develop nextgeneration peptide drugs
They will use Phylogica’s Phylomer and
Mimitopes’ Synthase technologies in the
effort; terms of the deal were not disclosed
(8/15)
NovaThera
Ltd.* (UK)
Pharming
Group NV (the
Nertherlands;
Euronext:PHARM)
Collaboration to combine
NovaThera’s biomaterial
products with Pharming’s
recombinant proteins
NovaThera is entitled to milestone and royalty payments in the deal; Pharming gets
rights to resulting products (7/12)
OctoPlus
Technologies
BV* (the
Netherlands)
SingVax Pte.
Ltd.* (Singapore)
Collaboration to co-develop
a single-shot Japanese
encephalitis vaccine
SingVax will be responsible for various
development activities; OctoPlus will be
responsible for formulation work; they will
share costs and any profits (9/26)
Odyssey
Thera Inc.*
Lexicon
Genetics Inc.
(LEXG)
Odyssey will characterize the
pathway activity of certain Lexicon compounds in human cells
Terms of the deal were not disclosed (7/20)
Oxxon
Therapeutics
Ltd.* (UK)
Bavarian Nordic
A/S (Denmark;
CSE:BAVA)
Cross-licensing deal covering
modified vaccinia ankara
and PrimeBoost technologies
Oxxon got certain rights to MVA technology and Bavarian Nordic got rights to
PrimeBoost; each would pay the other
royalties on any resulting sales (7/1)
Peregrine
Medarex Inc.
Pharmaceuticals (MEDX)
Inc. (PPHM)
Medarex got rights to develop
and sell its anti-PSMA monoclonal antibody conjugated to
therapeutic agents for use in
cancer therapies
Peregrine gets an up-front payment and
annual maintenance fees, as well as potential milestones and royalties for the license
to its Vascular Targeting Agent technology
platform (8/25)
Prima Biomed
Ltd. (Australia;
ASX:PRR)
Xencor Inc.*
Xencor got a nonexclusive
license to use Fc receptor
technology for research
and an option to use the
technology in development
Prima subsidiary Arthron Pty. Ltd. gets an
up-front fee and annual license fees and
would get additional fees and milestone
payments, if Xencor exercises its development option (9/8)
Protein Design
Labs Inc. (PDLI)
Biogen Idec
Inc. (BIIB)
Deal to jointly develop and
market three Phase II PDL
antibodies: daclizumab, M200
(volociximab) and HuZAF
(fontolizumab)
PDL gets $40M up front and a $100M equity investment; it also could earn up to
$560M in development milestones and
$100M in commercialization milestones;
they will share costs and profits in the U.S.
and Europe, and PDL would get royalties
elsewhere (8/2)
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
RenaMed
Biologics Inc.*
Genzyme
Corp. (GENZ)
Deal to develop and sell
RenaMed’s Bio-Replacement
Therapy for treating acute
renal failure
Genzyme will spend $23M through 3Q:06
to support development and could pay
$20M in development milestones, plus
regulatory milestones; costs and any profits will be equally shared (9/28)
RheoGene
Inc.*
Xenogen Corp.
(XGEN)
Xenogen got rights to use
the RheoSwitch System to
develop transgenic mice
They also will collaborate on projects
aimed at controlling delivery and regulating expression of RNAi; terms were not
disclosed (9/14)
RheoGene
Inc.*
Cellumen Inc.*
Cellumen got nonexclusive
rights to use RheoGene’s
RheoSwitch and RheoPlex
technologies
Cellumen intends to develop systems cell
biology screening products and offer them
to drug developers; they also will develop
and validate mammalian cell lines; terms
were not disclosed (7/26)
Rosetta
Genomics Ltd.*
(Israel)
Ambion Inc.*
Ambion got access to
microRNA sequences
discovered by Rosetta
Ambion will adapt its microRNA platforms
to detect, quantify and functionally characterize the sequences for use in developing
products for research (9/12)
Santhera
Biovitrum AB*
Pharmaceuticals (Sweden)
AG* (Switzerland)
Biovitrum got worldwide rights
to Santhera’s DPP-IV inhibitor
program for treating Type II
diabetes and other metabolic
diseases
Santhera gets €4M up front, and gets a
certain percentage of future revenues,
which could include milestones and royalties from sublicenses (8/17)
Sareum
Holdings plc
(UK: AIM:SAR)
Infinity
Pharmaceuticals
Inc.*
Sareum will provide protein
structure determination
services for Infinity
Sareum will attempt to show how Infinity’s
drug candidates interact with target receptor proteins; terms were not disclosed
(9/22)
Scancell Ltd.*
(UK)
GTC
Biotherapeutics
Inc. (GTCB)
Collaboration centered on
Scancell’s SC101 anticancer
monoclonal antibody, which
targets Lewis y/b
They will evaluate expression of the MAb
using GTC’s transgenic production platform, an effort that could lead to a collaboration on clinical development; terms
were not disclosed (7/28)
SIRS-Lab
GmbH*
(Germany)
Biosite Inc.
(BSTE)
Collaboration to evaluate and
potentially commercialize
sepsis markers
Biosite will make antibodies to targets
provided by SIRS-Lab; terms of the deal
were not disclosed (8/25)
Sonus
ImaRx
Pharmaceuticals Therapeutics
Inc. (SNUS)
Inc.*
ImaRx got a license to
fluorocarbon-based oxygendelivery technology
ImaRx’s sublicense on four patents is exclusive; Sonus would get royalties on any
resulting sales (7/1 1)
SR Pharma
plc (UK:AIM:SRA)
Introgen is supporting work
at SR Pharma through a
$3M investment
Introgen gained an 8.3% stake in SR Pharma
and expanded its presence into Europe;
further terms were not disclosed (7/28)
288
Introgen
Therapeutics
Inc. (INGN)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Stem Cell
Sciences plc
(UK; AIM:STEM)
Deltagen Inc.
(PK:DGENQ)
Deltagen licensed rights to
Stem Cell’s IRES technology
to make and sell knockout mice
Stem Cell gets $1.2M up front royalties on
resulting sales and will be provided genetically engineered mice (9/5)
StemCells
Inc. (STEM)
ReNeuron
Holdings plc* (UK)
ReNeuron licensed rights to
use c-mycER conditionally
immortalized adult human
neural stem cell technology
StemCells got an equity interest
in ReNeuron and a cross-license to exclusively use ReNeuron’s technology for certain diseases and conditions; each would
pay the other milestones and royalties on
resulting products (7/6)
Symphogen A/S* Cambridge
(Denmark)
Antibody Technology Group plc (UK;
CATG)
Patent license agreement
giving Symphogen access to
CAT’s antibody phage display
patents for research purposes
and to develop and commercialize antibody products
Symphogen made an up-front payment and
exercised its first option to develop and
commercialize Sym00 1 for idiopathic
thrombocytopenic purpura and hemolytic
disease of newborns; as a result, Symphogen paid a product license fee and may
make future milestone and royalty payments to CAT (8/23)
Tolerance
Therapeutics
Inc.*
MacroGenics
Inc.*
MacroGenics acquired an
anti-CD3 monoclonal antibody for treating Type I
diabetes and other
autoimmune diseases
The product has been in a Phase I trial;
terms of the deal were not disclosed (7/18)
VasGene
Therapeutics
Inc.*
MedImmune
Inc. (MEDI)
Deal to develop cancerfocused monoclonal antibodies
targeting the EphB4 subfamily
of receptor tyrosine kinases,
as well as its ligand, EphrinB2
VasGene will provide R&D support and
is entitled to an up-front fee along with
milestone and royalty payments; MedImmune will develop and commercialize
any resulting products (9/8)
VivoQuest
Inc.*
XTL Biopharmaceuticals
Ltd. (Israel; XTLB)
XTL got exclusive rights to
VivoQuest technology,
including HCV compounds
and its compound library
VivoQuest got an up-front payment of
$1.4M in XTL stock; it also is entitled to
development and commercialization milestone payments under the asset-purchase
deal (9/21)
FOURTH QUARTER
Abmaxis Inc.*
BioArctic
Neuroscience
AB* (Sweden)
Collaboration to develop a
human monoclonal antibody
for treating Alzheimer’s
disease
Abmaxis will further optimize and humanize BioArctic’s murine antibodies; Abmaxis
gets an up-front license fee and could
receive milestone and royalty payments
(10/6)
Accelr8
Technology
Corp. (AMEX:AXK)
Promega Corp.*
Deal to develop Accelr8’s
OptiChem surface chemistry
for use in microarraying slides
They will explore new techniques in microarray research using their respective technologies (10/17)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
ACE
BioSciences
A/S* (Denmark)
Crucell NV
(the Netherlands;
CRXL)
Crucell licensed bacterial
antigens to accelerate its
bacterial antibody discovery
program
The license was granted by ACE and the
Brigham and Women’s Hospital; terms of
the deal were not disclosed (1 1/2)
ActiveSight
(unit of Rigaku
Americas Corp.)
Inpharmatica
Ltd.* (UK)
ActiveSight will provide
structural biology services
to Inpharmatica
The deal focuses on co-crystallography by
ActiveSight of certain Inpharmatica small
molecules with a human drug target protein; ActiveSight is entitled to up-front and
milestone payments (1 1/17)
ActiveSight
(unit of Rigaku
Americas Corp.)
Ambit
Biosciences
Corp.*
Protein crystallography
services agreement to advance
drug discovery at Ambit
The deal covers the co-crystallization of
Ambit molecules with proteins expressed
by ActiveSight; terms were not disclosed
(1 1/1)
Affitech A/S*
(Norway)
XOMA Ltd.
(XOMA)
Collaboration and cross-license
agreement covering antibodyrelated technologies
Affitech gets a license to use XOMA’s bacterial cell expression technology; XOMA gets
rights to use Affitech’s naïve antibody
library; terms were not disclosed (1 1/29)
Affymetrix
Inc. (AFFX)
Vita Genomics*
(Taiwan)
Vita got nonexclusive access
to Affymetrix microarray
technology to develop and
market in vitro diagnostics
The license covers tests for alpha interferon
treatment response in hepatitis patients,
and for early onset and allergic asthma in
infants and young children (12/26)
Affymetrix
Inc. (AFFX)
PathWork
Informatics Inc.*
PathWork got long-term,
nonexclusive access to
microarray technology from
Affymetrix
PathWork plans to develop and market in
vitro diagnostic tests for cancer under the
Powered by Affymetrix program; terms
were not disclosed (1 1/1)
Aradigm
Corp. (ARDM)
United
Therapeutics
Corp. (UTHR)
Deal to develop an inhaled,
liposomal formulation of
treprostinil, a drug approved
for treating pulmonary arterial
hypertension
The goal is to deliver the prostacyclin analogue named Remodulin in Aradigm’s AERx
System; Aradigm is entitled to development
fees, milestone payments and royalties
on any resulting sales (10/24)
Argenta
Discovery
Ltd.* (UK)
Genentech Inc.
(NYSE:DNA)
Two-year deal to use Argenta
technologies to discover
compounds against a
Genentech drug target
Terms of the deal were not disclosed but
do provide options to expand the relationship (12/15)
Array
BioPharma Inc.
(ARRY)
Genentech Inc.
(NYSE:DNA)
They extended for a second
time a January 2004 deal to
discover small-molecule
drugs for treating cancer
Array could get up to $50M in research
funding over three years; Array also is
entitled to milestone and royalty payments
(10/13)
290
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Avantogen
Ltd. (Australia;
ASX:ACU)
Hawaii Biotech
Inc.*
Nonexclusive deal under
which HawaiiBio will
evaluate Avantogen’s GPI-0100
adjuvant
HawaiiBio plans to develop vaccines for
infectious diseases; Avantogen is entitled
to sublicense fees, milestone payments and
royalties on resulting sales (10/12)
Avidia Inc.*
MedImmune
Inc. (MEDI)
Collaboration to develop anticancer products targeting the
receptor tyrosine kinase cMET
They will develop two other targets using
Avidia’s Avimer technology; Avidia is entitled
to an up-front fee, milestone payments and
royalties on any resulting sales (10/20)
Avigen Inc.
(AVGN)
Genzyme
Corp. (GENZ)
Genzyme is acquiring all
Avigen assets related to
adeno-associated vectors,
except those related to pain
Avigen gets $12M up front for the gene
therapy program and is eligible to receive
milestone and royalty payments on resulting products (12/21)
Biolex
Therapeutics
Inc.*
Kringle Pharma
Inc.* (Japan)
Biolex will use its LEX System
to create a commercial line for
Kringle’s NK4 protein
NK4 is an elastase-generated fragment of
hepatocyte growth factor, being developed
for cancers; terms were not disclosed (10/27)
BioSpecifics
Technologies
Corp.*
Auxilium
Pharmaceuticals
Inc. (AUXL)
Auxilium exercised its option
expanding its rights to an
additional indication for the
injectable enzyme AA4500
Auxilium gets exclusive rights to the product for treating frozen shoulder syndrome;
it already had rights to the drug in treating
Dupuytren’s and Peyronie’s diseases (12/20)
Biota Holdings
Ltd. (Australia;
ASX:BTA)
MedImmune
Inc. (MEDI)
Deal to develop Biota’s
small-molecule compounds
designed to prevent and treat
respiratory syncytial virus
Biota gets $5M up front and R&D payments
and could get up to $107.5M in milestone
payments, as well as royalties on sales;
Biota retained marketing rights in Australia,
China and Southeast Asia (12/14)
Bio3 Research
Srl* (Italy) and
Creabilis
Therapeutics
SpA* (Italy)
Cephalon Inc.
(CEPH)
Deal to evaluate the
compound K252a for treating
psoriasis and restenosis
All three companies have certain rights to
the compound; Cephalon gets an exclusive
option to develop and sell resulting products (12/1)
BioTrove Inc.*
Sirtris
Pharmaceuticals
Inc.*
BioTrove will perform highthroughput screening on
Sirtris targets
BioTrove will use its RapidFire Lead
Discovery service in the effort, which represents an expansion of an existing deal
(1 1/9)
ChemDiv Inc.*
ProQinase
GmbH* (Germany)
They formed a partnership
for the discovery and
preclinical development of
kinase inhibitors
They will share development costs and
any revenues from the planned out-licensing of optimized leads (1 1/7)
Accentia got U.S. rights to
an intranasal steroid product
for treating allergic rhinitis
Collegium plans to file a supplemental NDA
in 2006 for the aqueous nasal spray formulation; terms of the deal were not disclosed
(12/6)
Collegium
Accentia BioPharmaceuticals pharmaceuticals
Inc.*
Inc. (ABPI)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
CombinatoRx
Inc.*
Angiotech
Pharmaceuticals
Inc. (Canada; ANPI)
Deal to develop drug devices
and therapeutics built from
CombinatoRx’s expertise
in drug combinations;
Angiotech has an option to
get exclusive licenses in
certain applications
CombinatoRx gets an up-front license fee of
$27M plus a $15M equity investment; Angiotech may license up to 10 compounds under
the deal and may license up to five more for
$2M each; CombinatoRx could get milestones of up to $30M per compond and
royalties on any resulting sales (10/3)
Cresset
BioMolecular
Discovery Ltd.*
(UK)
Galapagos NV
(Belgium;
Euronext:GLPG)
Deal to develop compound
libraries based on Cresset’s
molecular fields software
Galapagos division BioFocus has an option
to license the technology for medicinal
chemistry projects for itself and third parties (12/15)
Crucell NV
(the Netherlands;
CRXL) and
DSM Biologics
(the Netherlands)
ZyStor
Therapeutics
Inc.*
ZyStor got rights to evaluate
the PER.C6 cell line for use in
the manufacturing of a
specific therapeutic protein
Terms of the deal were not disclosed
(12/21)
Crucell NV
(the Netherlands;
CRXL)
Genzyme Corp.
(GENZ)
Genzyme got a nonexclusive
research license for producing
monoclonal antibodies
Details on the STAR license were not disclosed (12/19)
Crucell NV
(the Netherlands;
CRXL)
Vakzine Projekt
Management
GmbH* (Germany)
VPM got rights to use the
PER.C6 cell line to develop a
vaccine and diagnostics for an
undisclosed infectious disease
Crucell gets a research license fee and
annual maintenance fees; further terms
were not disclosed (12/8)
Crucell NV
(the Netherlands;
CRXL) and DSM
Biologics (the
Netherlands)
IQ Corp.*
(the Netherlands)
IQ got a license to use the
PER.C6 cell line for producing
monoclonal antibodies
Crucell and DSM are entitled to a signing
fee and annual maintenance fees; further
terms were not disclosed (10/19)
Curis Inc.
(CRIS)
Genentech
Inc. (NYSE:DNA)
Genentech extended funding
of their deal to develop cancer
drugs through June 2006
Curis gets another $1.25M to support personnel working on Hedgehog antagonist
technologies (10/13)
Dyax Corp.
(DYAX)
Debiopharm
SA* (Switzerland)
They restructured deal for
developing Dyax’s DX-890, an
inhibitor of neutrophil elastase,
for treating pulmonary
disorders
Debiopharm gets exclusive rights to a
native form of DX-890 in cystic fibrosis and
acute respiratory distress syndrome; Dyax
gets a milestone payment and retains
rights to milestones and royalties from the
DX-890 programs (12/20)
EidogenSertanty Inc.*
Kalypsys Inc.*
Collaboration focused on the
discovery of small-molecule
compounds for
anti-inflammatory indications
Eidogen will design a virtual library of compounds expected to be active against a
Kalypsys target; terms of the deal were not
disclosed (12/14)
292
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2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
EidogenSertanty Inc.*
KAI
Pharmaceuticals*
Services deal under which
Eidogen will characterize
protein kinase C regulatory
domains for KAI
Eidogen will use technologies from its
DirectDesign Discovery Service in the deal;
terms were not disclosed (10/18)
ExonHit
Therapeutics
SA* (France)
Affymetrix
Inc. (AFFX)
Deal to combine Affymetrix’s
GeneChip microarray platform
and ExonHit’s alternative RNA
splicing technologies
The first arrays with the ExonHit SpliceArray content are expected to be available
by the end of 2005; ExonHit is entitled to
license payments (10/17)
4AZA
Bioscience
NV* (Belgium)
Gilead
Sciences Inc.
(GILD)
Deal to develop compounds
discovered by 4AZA for
treatment of hepatitis C
virus infection
4AZA gets an up-front payment and equity
investment from Gilead, which gets worldwide rights; 4AZA also will get research
funding and could get milestone and royalty payments (1 1/30)
Galapagos NV
(Belgium;
Euronext:GLPG)
Prolysis Ltd.*
(UK)
They extended deal from
earlier in 2005 focused on
a Prolysis program in
antibiotic resistance
Galapagos division BioFocus is doing leadoptimization work to identify dual enzyme
inhibitors that overcome the problem of
resistance; Prolysis will fund work through
2006 (12/30)
Galapagos NV
(Belgium;
Euronext:GLPG)
Amgen Inc.
(AMGN)
They extended deal under
which Galapagos division
BioFocus is providing biology
and chemistry services for
Amgen
The deal will run through 2006 and focus
on Amgen’s ion channel lead discovery
programs; Galapagos gets $2.3M up front
and up to a total of $30M in access and
researches fees, milestone payments and
bonuses (12/7)
Galapagos NV
(Belgium;
Euronext:GLPG)
Senexis Ltd.*
(UK)
Expanded deal to optimize
Senexis compounds being
developed for Alzheimer’s
disease
Galapagos division BioFocus will provide
medicinal chemistry services to Senexis;
terms of the deal were not disclosed (12/2)
Galapagos NV
(Belgium;
Euronext:GLPG)
Idenix
Pharmaceuticals
Inc. (IDIX)
Galapagos division BioFocus
will provide compound collections and medicinal chemistry
services to Idenix
The focus is on hepatitis and HIV programs
at Idenix; Galapagos can earn up to $2.5M
over the two-year collaboration (1 1/24)
Galapagos NV
(Belgium;
Euronext:GLPG)
Serono SA
(Switzerland;
NYSE:SRA)
Galapagos will supply
compounds from its SoftFocus
collection for use in Serono’s
drug discovery programs
Also, medicinal chemistry services being
provided by Galapagos division BioFocus
will be expanded; Galapagos gets technology access fees and fees for chemistry services (10/18)
They entered technology
transfer and screening
agreements
Details were not disclosed; as part of the
deal, Galileo gained an equity stake in
Edison (1 1/29)
Galileo
Edison
Pharmaceuticals Pharmaceuticals
Inc.*
Inc.*
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293
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Genedata AG*
(Switzerland)
TransTech
Pharma Inc.*
TransTech licensed the
Genedata Screener highthroughput screening
analysis software
TransTech will use the technology to
enhance small-molecule drug development;
terms of the multiyear deal were not disclosed (12/14)
Genedata AG*
(Switzerland)
Neurocrine
Biosciences Inc.
(NBIX)
Neurocrine licensed the
Genedata Expressionist gene
expression analysis system
Neurocrine will use the technology for biomarker discovery and in silico prediction,
in discovery programs focused on neurological and endocrine-related diseases
(12/7)
Genedata AG*
(Switzerland)
Signature
Diagnostics AG*
(Germany)
Signature licensed Genedata
software to help identify
gene expression profiles
Terms of the license to the Genedata
Expressionist software solution were not
disclosed (1 1/1)
GeneGo Inc.*
Velcura
Therapeutics
Inc.*
Velcura licensed GeneGo’s
MetaCore database product
under a multiyear deal
Velcura will use the technology for analysis
of gene expression and proteomic and
other data related to bone formation (1 1/9)
GenOway*
(France)
Invitrogen
Corp. (IVGN)
Deal to create a services
platform offering RNAi vector
design through creation of
RNAi transgenic rodent models
Each company will contribute technology to
the effort; revenues from the co-marketing
deal would be shared on an undisclosed
basis (12/15)
GenVec Inc.
(GNVC)
Mytogen Inc.*
Mytogen acquired GenVec’s
myoblast cell therapy program;
it will keep most employees
who managed the program
GenVec is eligible to receive milestone and
royalty payments in the deal; the technology is being developed to treat congestive
heart failure (12/29)
GenVec Inc.
(GNVC)
Unnamed
entity
Letter of intent calls for sale
of GenVec’s myoblast cell
therapy program for treating
congestive heart failure
GenVec would get royalties on any resulting revenues; the technology was acquired
through GenVec’s 2003 merger with
Diacrin Inc. (10/18)
GPC Biotech
AG (Germany;
GPCB)
Pharmion
Corp. (PHRM)
Pharmion got rights to the
Phase III cancer product
satraplatin in Europe, Turkey,
the Middle East, Australia and
New Zealand
GPC gets $37.1M up front; they will share
development costs; GPC could get $30.5M
in milestone payments and up to $75M
more for up to five subsequent EMEA
approvals; another $105M in sales milestones could be paid, as well as royalties
starting at 26% (12/20)
Human Genome
Sciences Inc.
(HGSI)
CoGenesys*
CoGenesys got rights to
develop products based on
certain HGS genes, and to
albumin-fusion technology;
it is being spun out of HGS
HGS also is providing a $10M startup loan;
HGS gets an up-front payment and would
get a portion of any revenues; it also retains
a right of first refusal to develop certain
products that may be developed (12/13)
294
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Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Hyperion
Biotechnology
Inc.*
IR BioSciences
Holdings Inc.
(OTC BB:IRBO)
Hyperion will perform research
on IR’s anthrax agent Viprovex
Hyperion is working with IR subsidiary
ImmuneRegen BioSciences in the deal;
terms were not disclosed (10/20)
IDM Pharma
Inc. (IDMI)
Pharmexa A/S
(Denmark; CSE:
PHARMX)
IDM is selling Pharmexa
assets related to its
infectious disease programs
IDM is getting $1 2M in cash and certain rights to use Padre and Epitope
Identification System technologies that
were included in the deal (1 1/25)
Illumina Inc.
(ILMN)
PharmacoDesign*
(South Korea)
PharmacoDesign acquired
a BeadStation system and
genotyping arrays and reagents
PharmacoDesign will genotype various
Korean populations to study certain diseases; Illumina has rights to incorporate
resulting biomarkers into SNP panels under
an exclusive, royalty-bearing license (10/25)
ImmunoGen
Inc. (IMGN)
Genentech Inc.
(NYSE:DNA)
Genentech got exclusive rights
to use Tumor-Activated Prodrug
technology with antibodies to
an undisclosed target
The deal marks Genentech’s fourth license
to the technology; ImmunoGen gets a $1M
license payment and could receive milestone and royalty payments (12/13)
Ingenuity
Systems Inc.*
Genizon
BioSciences Inc.*
Genizon licensed the Ingenuity
Pathways Analysis 3.0 system
The application will be used to identify
targets; terms were not disclosed (10/25)
Innovata plc
(UK; LSE:IOV)
Serologicals
Corp. (SERO)
Serologicals subsidiary
Celliance acquired ubiquitous
chromatin opening element
gene expression technology
The technology is used in protein production; Innnovata previously said the technology was not core to its business; terms
of the deal were not disclosed (10/3)
Intercell AG
(Austria; VSE:ICLL)
Pelias
Biomedical
Development
AG* (Austria)
Pelias gained rights to
certain antigens that target
pathogens in hospital
infections
Intercell gets an up-front payment and
would get royalties on sales; it also holds
a major stake in Pelias, which it helped
establish (12/9)
InterMune
Inc. (ITMN)
Targanta
Therapeutics
Inc.*
Targanta acquired oritavancin,
an antibiotic that has
completed two Phase III trials
InterMune is entitled to $9M in up-front and
milestone payments and got a promissory
note worth up to $25 million; the note will
convert into Targanta stock as objectives
are reached (12/27)
Isogenica
Ltd.* (UK)
Amgen Inc.
(AMGN)
Isogenica will use its CIS
display technology to select
peptide candidates to certain
Amgen targets
Isogenica will get research fees and could
receive milestone and royalty payments on
resulting products (1 1/7)
Lexicon
Genetics Inc.
(LEXG)
Genentech
Inc. (NYSE:DNA)
Lexicon will perform research
on a number of targets from
Genentech’s Secreted Protein
Discovery Initiative program
Lexicon is entitled to $25M in up-front,
milestone and research funding during the
three-year research phase; Lexicon also
could receive development milestones
and royalties on any sales or share in
costs and profits (12/1)
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295
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Lexicon
Genetics Inc.
(LEXG)
Taconic Farms
Inc.*
Deal for the marketing and
licensing of certain knockout
mice made by Lexicon
Taconic will provide breeding services and
licenses for more than 1,000 lines and distribute the knockout mice (1 1/1 1)
Macrozyme
BV* (the
Netherlands)
Genzyme Corp.
(GENZ)
Collaboration to explore
Macrozyme’s small-molecule
library as inhibitors of
glucosylceramide synthase
The initial focus is on diabetes and insulin
resistance; Macrozyme will get research
funding and could get milestone and
royalty payments (1 1/24)
Medisyn
Technologies
Inc.*
Humanetics
Corp.*
Collaboration to develop
natural, non-prescription
compounds focused on
disease prevention
Medisyn will provide natural compounds;
Humanetics will be responsible for clinical
development; further terms were not disclosed (10/20)
Memory
Amgen Inc.
Pharmaceuticals (AMGN)
Corp. (MEMY)
Collaboration to develop PDE10
inhibitors for indications
including certain neurological
and psychiatric disorders
Memory gets an up-front payment of $5M
and could get $5.1M in research funding
over two years; it also is entitled to milestone and royalty payments (10/17)
Micromet AG*
(Germany)
MedImmune
Inc. (MEDI)
They initiated a second
program, against an
undisclosed target antigen
The companies are using Micromet’s BiTE
platform in the drug discovery effort; terms
were not disclosed (1 1/21)
Migenix Inc.
(Canada; TSE:MGI)
Cutanea Life
Sciences Inc.*
Cutanea got rights to develop
and market MX-594AN for a
number of dermatological
indications
Migenix gets an up-front payment and up
to $21M in development and sales milestones, as well as royalties on any sales; Phase
II trials in acne have been completed (12/8)
Mucosal
Therapeutics
LLC*
Serenex Inc.*
Serenex got worldwide rights
to SNX-1012 for chemotherapyand radiation-induced oral
mucositis
Phase II trials on the product are being
planned; terms of the license deal were not
disclosed (10/6)
MultiCell
Technologies
Inc. (OTC BB:
MCET)
Living Cell
Technologies
Ltd. (Australia;
ASX:LCT)
They formed a joint venture
to develop therapeutic liver
cell applications
MultiCell will develop extended functionality of its adult liver stem cells and immortalized human hepatocytes using LCT’s
encapsulation technology; they will co-own
resulting products (10/4)
NatImmune
A/S* (Denmark)
Enzon
Pharmaceuticals
Inc. (ENZN)
Enzon licensed recombinant
human mannan-binding lectin,
a protein being developed to
prevent severe infections
NatImmune gets $10M up front and is entitled to milestone and royalty payments;
NatImmune retains rights in the Nordic
countries and has certain rights to develop
topical formulations (10/3)
296
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
NicOx SA
(France;
Eurolist: NICOX)
Topigen
Pharmaceuticals
Inc.* (Canada)
Topigen got North American
rights to NCX 1020, a Phase IIa
drug for treating chronic
obstructive pulmonary disease
and other respiratory disorders
NicOx gets €2M up front and up to €52.9M
in milestone and commercial success fees,
in addition to a share of future revenues;
that total includes fees that could be
received if Topigen exercises its option to
get rights in the rest of the world (10/27)
Novavax
Inc. (NVAX)
IGI Inc.
(AMEX:IG)
IGI extended for 10 years its
exclusive license to use certain
Novavax technologies
IGI’s rights to the Novasome lipid vesicle
encapsulation technology, micellar nanoparticles and the Ultrasponge technology
cover a number of applications (12/13)
OncoMab
Acceptys Inc.*
GmbH* (Germany)
The companies combined their
human antibody therapeutic
pipelines and their R&D
operations
Acceptys got rights to evaluate, acquire
and develop all eight lead antibody cancer
candidates from the OncoMab pipeline,
which will be jointly developed (12/23)
OriGene
Technologies
Inc.*
Cytomyx
Holdings plc*
(UK)
Deal to co-develop tools to pro- Terms of the deal were not disclosed (10/17)
file gene expression and biomarker
validation in a range of cancers
PIramed Ltd.*
(UK)
Genentech
Inc. (NYSE:DNA)
Collaboration to develop
PIramed compounds targeting
PI 3-kinase, an extracellular
enzyme implicated in cancers
PIramed gets an up-front payment and
could receive up to $230M in milestone
payments up through product approval, as
well as research funding and royalties on
any sales (1 1/30)
Provid
Palatin
Pharmaceuticals Technologies
Inc.*
Inc. (AMEX:PTN)
Research services deal under
which Provid will optimize
leads for Palatin
Provid will use its technologies on drug
candidates identified using Palatin’s MIDAS
technology; terms were not disclosed
(10/17)
RheoGene
Inc.*
Serologicals got a semiexclusive license to RheoGene’s
RheoSwitch System and related
technologies
Serologicals subsidiary Chemicon International Inc. got rights to use the technology in its research product lines focused on
specialty research markets; terms were not
disclosed (1 1/28)
Rigel
Serono SA
Pharmaceuticals (Switzerland;
Inc. (RIGL)
NYSE:SRA)
Serono got exclusive rights to
develop and sell products from
Rigel’s Aurora kinase inhibitor
program; the license is
worldwide except Japan
Rigel gets a $10M license fee and a $15M
equity investment at a premium up front;
development and sales milestones could
push the total value to $160M, plus royalties on any resulting sales (10/25)
Savient
Indevus
Pharmaceuticals Pharmaceuticals
Inc. (SVNTE)
Inc. (IDEV)
Indevus acquired Delatestryl,
an injectable testosterone
product approved for male
hypogonadism
Savient gets an initial payment of $5M and
a portion of sales for three years; Indevus
also will purchase about $1.9M of inventory (12/13)
Serologicals
Corp. (SERO)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
297
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
SD
Adventrx
Pharmaceuticals Pharmaceuticals
Inc.*
Inc. (AMEX:ANX)
Adventrx got U.S. rights to
ANX-530, an emulsion
formulation of vinorelbine
tartrate
Vinorelbine is used in cancer treatments;
Adventrx’s license includes all rights to
future vinca alkaloid formulations (10/4)
Sontra Medical
Corp. (SONT)
EpiVax Inc.*
Collaboration to investigate
the topical delivery of EpiVax’s
therapeutic HIV vaccine and
other DNA vaccines
They will use Sontra’s SonoPrep ultrasonic
skin permeation device in the effort; terms
of the deal were not disclosed (10/20)
Stem Cell
Sciences plc
(UK; AIM:STEM)
Lexicon
Genetics Inc.
(LEXG)
Lexicon gained increased
rights to Internal Ribosome
Entry Site technology for
genetically modified mice
SCS gets an up-front payment and will
share revenues from sublicenses; it also
got certain rights to Lexicon’s gene targeting technology for use in stem cell and progenitor cell lines (1 1/3)
Stem Cell
Sciences plc
(UK; AIM:STEM)
Serologicals
Corp. (SERO)
Deal to manufacture and
market embryonic stem cell
media for the research market
Serologicals subsidiary Chemicon International Inc. got worldwide rights to make and
market a fully formulated cell culture media
(10/6)
Telomolecular
Corp.*
New Life
Scientific Inc.
(OTC BB:NWLF)
Collaboration to develop
products that treat aging
and age-related diseases
They plan to explore potentially synergistic
technologies in the deal, terms of which
were not disclosed (12/6)
Tranzyme
Pharma Inc.*
Open
Biosystems Inc.*
OBI licensed exclusive rights
to human-based translentiviral gene expression
technology
OBI also will assume Tranzyme’s operations
in Birmingham, Ala.; Tranzyme will get
annual payments and royalties on any
resulting sales (1 1/14)
U.S. Biodefense
Inc. (OTC BB:
UBDE)
AntiCancer
Inc.*
Collaboration to develop
approaches for using human
neural crest stem cells and their
potential in transplantation
The goal is to develop treatments in the
area of central nervous system diseases;
terms of the deal were not disclosed (10/18)
VisiGen
Biotechnologies
Inc.*
Applied
Biosystems
Group (NYSE:ABI)
They entered a definitive
agreement to collaborate on
sequencing technologies
Applied Biosystems intends to make an
equity investment in VisiGen; terms were
not disclosed (10/26)
Xcyte
Therapies Inc.
(XCYT)
Invitrogen
Corp. (IVGN)
Invitrogen is acquiring Xcyte’s
T-cell expansion technology,
known as the Xcellerate Process
Xcyte gets $5M and a percentage of any
sublicensing revenue; the deal includes
data generated through various trials of
the Xcellerated T Cells product (12/15)
Xencor Inc.*
Genentech
Inc. (NYSE:DNA)
Collaboration to use Xencor’s
XmAb technology to develop
drugs against the antibody
targets CD20 and Her2, and
an undisclosed antigen
Xencor gets $5M up front and annual
license fees, as well as potential milestone
payments for each target and royalties on
any sales; Genentech’s license is exclusive
and worldwide (12/1)
298
Company*
(Country;
Symbol)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Company Deals With Other Biotechnology Companies: Collaborations, Agreements, Equity Participation (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Type/Product Area
Terms/Details (Date)
Xencor Inc.*
MedImmune
Inc. (MEDI)
MedImmune got rights to
XmAb engineered antibody
Fc domains for creating
antibody candidates against
tumor targets
Xencor gets an up-front payment and is eligible to receive additional commercial
license fees, milestone payments and royalties on any sales (12/7)
Xenogen
Corp. (XGEN)
Gene Logic
Inc. (GLGC)
Xenogen will produce and
characterize lines of
bioluminescent animal
models for Gene Logic
The deal follows an earlier agreement in
which Gene Logic purchased Xenogen
equipment and licensed biophotonic imaging technology (10/13)
XOMA Ltd.
(XOMA)
Crucell NV
(the Netherlands;
CRXL)
Crucell got expanded rights
to XOMA’s bacterial cell
expression technology
The deal improved Crucell’s position to perform phage display for infectious diseases
with third-party collaborators; terms were
not disclosed (10/5)
Notes:
* Private companies are indicated with an asterisk.
Unless otherwise notes, the trading symbols listed for public biotechnology companies are on the Nasdaq market.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CSE =
Copenhagen Stock Exchange; FSE = Frankfurt Stock Exchange; HEX = Helsinki Stock Exchange; LSE = London Stock
Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; PK = Pink Sheets; SSE = Stockholm
Stock Exchange; SWX = Swiss Stock Exchange; TSE = Toronto Stock Exchange; VSE = Vienna or Vancouver Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
299
2005 Biotech-Biotech Collaborations: Modified
And Terminated Agreements
I. MODIFIED AGREEMENTS
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Change from original
agreement
Terms/Details (Date)
Cellegy
ProStrakan
Pharmaceuticals Group plc
Inc. (CLGY)
(UK; LSE:PSK)
They renegotiated deal
under which ProStrakan
distributes Rectogesic in
Europe
ProStrakan will assume support responsibility, and purchase product directly from
the manufacturer; Cellegy gets $2M and up
to $0.75M in milestone payments (1 1/10)
Curis Inc.
(CRIS)
Genentech
Inc. (NYSE:DNA)
They amended June 2003
deal to extend Genentech’s
funding of the development
collaboration in cancer
Genentech is providing $2M to extend the
Hedgehog-inhibition program, which was
set to expire in June 2005, another six
months, with a six-month option (4/14)
Cytomedix Inc.
(OTC BB:CYME)
Harvest
Technologies
Inc.*
They resolved litigation
related to Cytomedix’s
platelet gel technology
A license has been granted to Harvest as
part of the settlement; further terms were
not disclosed (5/24)
IDM Pharma
Inc. (IDMI)
Innogenetics
NV (Belgium;
Euronext:INNX)
They extended for six months
a collaboration to develop
vaccines for viral diseases
The extension through March 2006 is
intended to enable Innogenetics to generate clinical candidates; IDM is entitled to
milestone and royalty payments (10/3)
Lexicon
Genetics Inc.
(LEXG)
Deltagen Inc.
(PK:DGENQ)
They settled Lexicon’s claim
in Deltagen’s bankruptcy
proceedings and agreed on
Deltagen’s assumption of a
sublicense deal from Lexicon
Lexicon received $4M in the settlement and
could get up to $6M more from Deltagen’s licensing revenues from existing
lines of knockout mice; Lexicon also is
entitled to royalty payments (3/31)
Mergen Ltd.*
Oxford Gene
Technology Ltd.*
(UK)
Agreement resolving patent
infringement litigation
between the companies
Mergen has obtained a license from OGT
for its expression chips in the U.S., Europe
and Japan, allowing it to make and sell
microarrays (1/20)
ML Laboratories Maxygen Inc.
plc (UK; LSE:MLB)
(MAXY)
Maxygen gained expanded
rights to Ubiquitous Chromatin
Opening Element technology
Maxygen expanded its license from use in
research to use in development of therapeutic proteins; terms were not disclosed
(6/20)
NiKem
Research Srl*
(Italy)
They expanded and
extended a research
services agreement
NiKem will continue to provide medicinal
chemistry services to optimize inhibitors of
ubiquitin-specific proteases for use as
cancer agents (5/9)
FIRST QUARTER
300
Hybrigenics
SA* (France)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech-Biotech Collaborations: Modified And Terminated Agreements (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Change from original
agreement
Terms/Details (Date)
Perfusion
Partners and
Associates Inc.*
Cytomedix
Inc. (AMEX:GTF)
They settled a patent dispute
over platelet-derived therapies
for treating wounds and other
damaged tissue
Perfusion and affiliate Transcorporeal Inc.
got a license to Cytomedix technology and
will pay royalties of $250,000 and 10% of
future sales (6/27)
Transgenomic
Inc. (TBIO)
Geron Corp.
(GERN)
Transgenomic will provide
additional modified nucleic
acid-building block
compounds to Geron
The deal is an addendum to an existing
master supply agreement between the
companies; terms were not disclosed
(4/20)
XOMA Ltd.
(XOMA)
Genentech Inc.
(NYSE:DNA)
They restructured terms of
their deal covering Raptiva,
which is approved for
treating plaque psoriasis
XOMA opted to take a mid-single-digit royalty on sales and won’t be responsible for
funding any development or marketing
activities; XOMA no longer is obliged to
repay a $40M development loan (1/12)
II. TERMINATED AGREEMENTS
Inex
Enzon
Pharmaceuticals Pharmaceuticals
Corp. (Canada;
Inc. (ENZN)
TSE:IEX)
Enzon is ending deal to
develop Inex’s cancer
product Marqibo
The product, vincristine sulfate liposomes
injection, received a not-approvable letter
from the FDA in January calling for more
trials; Inex is due $5M under the deal (3/17)
Micromet AG*
(Germany)
Enzon
Pharmaceuticals
Inc. (ENZN)
They ended a deal to identify
and develop antibody-based
drugs for treating inflammatory
and autoimmune diseases
They had combined technology in singlechain antibodies in the April 2002 collaboration; Micromet gets rights to the lead
candidate (MT203) generated in the deal,
and Enzon would get royalties; crosslicense and marketing agreements between
the companies remained unchanged (1 1/28)
XOMA Ltd.
(XOMA)
Zephyr
Sciences Inc.*
XOMA terminated a 2004 deal
under which Zephyr gained
rights to bactericidal/permeability-increasing proteinrelated products
XOMA said Zephyr did not meet the financing requirements of the deal, which
included the lead product Neuprex; the
deal called for $1 1M in license fees and up
to $62M in milestone payments, as well as
royalties on any sales (7/15)
Notes:
* Private companies are indicated with an asterisk.
Unless otherwise noted, stock symbols listed are on the Nasdaq market.
AMEX = American Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-theCounter Bulletin Board; PK = Pink Sheets.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
301
2005 Manufacturing, Marketing And Distribution Agreements
Between Biotechnology Companies
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
FIRST QUARTER
Agencourt
Bioscience
Corp.*
Amplicon
Express Inc.*
Alliance to co-market a suite
of BAC library construction
and sequencing services
Each will provide technology to the effort
focused on bacteria artificial chromosomes,
which are vectors designed to clone DNA
fragments (3/21)
Ambion
Diagnostics
(unit of Ambion
Inc.*)
AcroMetrix
Corp.*
AcroMetrix will manufacture
Armored RNA-based products
and distribute them to
laboratories and manufacturers
Ambion will supply AcroMetrix custom
products based on the Armored RNA technology for further development; terms
were not disclosed (3/16)
Argenta
Discovery Ltd.*
(UK)
TTP LabTech
Ltd.* (UK)
They launched a high-content
assay development and
screening service
The offering for drug discovery will be
promoted by both companies (1/24)
ArtisOptimus
Inc.*
Taconic Farms
Inc.*
Deal to bring a collection of
primary mouse embryonic
fibroblasts to the research
community
ArtisOptimus will produce and distribute
MEFs made from knockout mouse models
to which Taconic holds exclusive rights;
ArtisOptimus also licensed specific models
(2/9)
BioBalance
Corp. (OTC BB:
BBAL)
Benchmark
Biolabs Inc.*
Benchmark will manufacture
ProBactrix for clinical
trials
The product is a live strain of E. coli M-17
being developed for gastrointestinal disorders; terms were not disclosed (3/14)
Cobra Biomanufacturing
plc (UK; LSE:CBF)
Oncolytics
Biotech Inc.
(Canada; ONCY)
Extended deal under which
Cobra will manufacture and
supply Reolysin
The manufacturing deal on the human reovirus-based product is worth more than
$1.4M to Cobra in 2005 (2/8)
EDC
Biosystems
Inc.*
Aurora
Discovery Inc.*
Deal to co-market EDC’s
acoustic liquid-handling
instrumentation and
Aurora’s ChemLib microplates
Terms of the deal were not disclosed (3/21)
Halozyme
Therapeutics
Inc. (AMEX:HTI)
Peregrine
Pharmaceuticals
Inc. (PPHM)
Deal for the manufacture
of a Halozyme recombinant
human enzyme, which will be
used in its Cumulase and
Enhanze SC producs
The manufacturing will be performed by
Peregrine subsidiary Avid Bioservices Inc.;
terms of the deal were not disclosed (2/17)
Hawaii Biotech
Inc.*
Cobra Biomanufacturing
plc (UK;LSE:CBF)
Cobra will manufacture
materials for clinical trials of
vaccines against dengue fever
and West Nile disease
Terms of the deal were not disclosed; trials
of the recombinant subunit vaccine candidates are expected to begin in 2006 (3/2)
302
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology Companies (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
LION
Bioscience AG
(Germany;
FSE:LIOG)
BioBase GmbH*
(Germany)
Collaboration to integrate
BioBase’s network content
into LION’s software products
Terms of the deal were not disclosed (2/10)
Quantum Dot
Corp.*
Chemicon
International
(subsidiary of
Serologicals Corp.;
SERO)
Chemicon got rights to market
specific quantum dot-containing
products for detecting
antibody-antigen interactions
in immunological experiments
The deal adds secondary antibody detection technologies to Chemicon’s general
reagents product portfolio; terms were not
disclosed (3/4)
Stratagene
Corp. (STGN)
Affymetrix Inc.
(AFFX)
Stratagene will provide
Affymetrix customers with
new software solutions for
GeneChip data analysis
Stratagene will develop a statistical analysis solution of Affymetrix gene expression
microarrays under the nonexclusive deal
(2/7)
Albany Molecular will
manufacture the drug-linker
system used in Seattle
Genetics’ SGN-35 product
Clinical trials of the antibody-drug conjugate are expected to begin in 2006; the
deal also provides licensees of Seattle
Genetics’ ADC technology to work directly
with Albany Molecular to obtain drug-linkers
for their own trials (5/5)
SECOND QUARTER
Albany
Molecular
Research Inc.
(AMRI)
Seattle
Genetics
Inc. (SGEN)
Ambion Inc.*
Kreatech
Kreatech will use Ambion
Biotechnology BV* technology in development
(the Netherlands)
of a solution for gene
expression analysis
Ambion will provide its MessageAmp II
a RNA amplification system under the
supply agreement, terms of which were not
disclosed (6/27)
Ardana plc
(UK; LSE:ARA)
Cytochemia
AG* (Germany)
Cytochemia got exclusive
rights to market Striant SR
in Germany
Striant SR is a mucoadhesive buccal testosterone treatment for hypogonadism;
Ardana gets an up-front payment and
ongoing suppy revenues (6/16)
Auxilium
Oscient
Pharmaceuticals Pharmaceuticals
Inc. (AUXL)
Corp. (OSCI)
Two-year deal to co-promote
Auxilium’s marketed product
Testim in the U.S. for treating
hypogonadism
Oscient will promote Testim to primary
care physicians, and share profits from
those sales above a pre-determined baseline (4/13)
Biogen Idec
Inc. (BIIB)
Genentech
Inc. (NYSE:DNA)
Genentech is purchasing
Biogen Idec’s biologics
manufacturing facility in
Oceanside, Calif.
Genentech will pay about $408M in cash
for the facility and is expected to offer
jobs to the 403 employees at the facility
(6/16)
Biomedical
Frontiers Inc.*
Hemosol Corp.
(Canada; HMSL)
Hemosol will produce the
iron-binding drugs 40SD02
and 25SD04 for Biomedical
The injectable drug formulations will be used
for preclinical and clinical studies in iron
poisoning, iron overload and diabetic complications; terms were not disclosed (4/4)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
303
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology Companies (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
BioReliance
Corp. (subsidiary
of Invitrogen
Corp.; IVGN)
Acambis plc
(UK; ACAM)
Acambis acquired a U.S.based fill/finish facility,
where it will manufacture
vaccines
BioReliance gets $3M up front and another
$4.5M over 12 years; Acambis will assume
responsibility for the 12-year lease (5/9)
Capital
Genomix Inc.*
SpectruMedix
LLC*
Worldwide deal to market
and sell the GeneSystem320
for capillary electrophoresisbased applications.
The companies intend to launch the product in 3Q:05; terms were not disclosed
(5/4)
Cobra Biomanufacturing
plc (UK; LSE:CBF)
Synco
BioPartners*
(the Netherlands)
Collaboration to manufacture
plasmid DNA for Phase III trials
and commercial supply
Synco licensed rights related to the pDNA
manufacturing process; they also will work
together on marketing of their pDNA manufacturing services (5/4)
Gene Bridges
GmbH*
(Germany)
Covalys
Biosciences AG*
(Switzerland)
Deal to develop DNA
engineering kits to generate
SNAP-tag fusion proteins
The work is based on Gene Bridges’ Red/ET
recombination technology; the cloning kits
are expected to be on the market in 3Q:05
(6/14)
Inte:Ligand
GmbH* (Austria)
Molecular
Networks*
(Germany)
Deal to integrate Molecular
Networks’ Corina technology
into Inte:Ligand’s Ilib
Diverse platform
Ilib Diverse is a virtual compound librarygeneration platform; they also plan to share
complementary technologies in the future
(4/26)
Invitrogen
Corp. (IVGN)
Applied
Biosystems
Group (NYSE:ABI)
Co-marketng deal to sell a
combined collection of
labeling technologies
The products include ABI’s iTRAQ and
ICAT reagents and Invitrogen’s SILAC technology; ABI also will provide software support
for SILAC; terms were not disclosed (6/6)
Inyx Inc.
(OTC BB:IYXI)
Kos
Pharmaceuticals
Inc. (KOSP)
10-year deal under which
Inyx will produce Kos’
Azmacort Inhalation
Aerosol product line
Inyx said the deal is expected to generate
about $10M in annual revenues (4/15)
Lorantis Ltd.*
(UK)
Althea
Technologies
Inc.*
Althea will manufacture the
protein component of Lorantis’
HepVax, a hepatitis B
therapeutic vaccine
Althea will provide a range of services
under the contract as the product advances
toward clinical evaluation; terms were not
disclosed (4/27)
Luminex
Corp. (LMNX)
EraGen
Biosciences
Inc.*
The companies entered an
expanded licensing and
distribution agreement
EraGen got rights to sell Luminex 100
Systems and kits that include nonstandard
nucleic acid bases, proprietary to EraGen,
designed for certain in vitro clinical diagnostic purposes (4/26)
Omnia
Biologics Inc.*
AT-GC
BioPharm Inc.*
Deal to develop AT-GC
Electronic Eye technology
for the manufacture of
biopharmaceuticals
They will work together to provide the
technology under undisclosed terms (3/24)
304
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology Companies (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
Primus
CollaGenex
Pharmaceuticals Pharmaceuticals
Inc.*
Inc. (CGPI)
Deal under which CollaGenex
will promote Alcortin and
Novacort to dermatologists
in the U.S.
Alcotrin is a topical antifungal steroid combination; Novacort is a topical steroid and
anesthetic; terms of the deal were not disclosed (6/8)
Procognia Ltd.*
(UK)
Qiagen NV
(the Netherlands;
QGEN)
Qiagen got exclusive rights
to market Procognia’s
“on-chip” protein
glycoanalysis technology
The products will be combined with
Qiagen’s QProteome product line; terms of
the deal were not disclosed (5/16)
Protein
Sciences Corp.*
ViRexx
Medical Corp.
(Canada; TSE:VIR)
Deal under which PSC will
manufacture ViRexx’s lead
Chimigen vaccine, HepaVaxx B
Phase I trials of the hepatitis B vaccine are
expected to begin in 3Q:05; terms of the
deal were not disclosed (4/28)
Proteos Inc.*
DNAPrint
Genomics Inc.
(OTC BB:DNAP)
Proteos will manufacture
DNAP’s PT-401 (Super EPO
dimer) for preclinical testing
Terms of the deal were not disclosed (5/14)
StemCo
Biomedical Inc.*
StemCell
Technologies*
(Canada)
Worldwide deal under which
StemCell will distribute
StemCo’s Aldefluor product
Aldefluor is a kit that enables the identification of stem and progenitor cells; StemCell
previously had rights only in the Americas
and much of the Asia-Pacific region (6/9)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
InterGenetics
Inc.*
Tm will supply custom Tag-It
reagents to InterGenetics for
OncoVue under a five-year deal
InterGenetics is expected to buy at least
$7.5M in reagents over the five years; Oncovue is a genetic-based breast cancer risk
test (6/30)
THIRD QUARTER
Benitec Ltd.
(Australia;
ASX:BLT)
Promega Corp.*
Promega will hold a worldwide
nonexclusive license to make
and sell DNA-directed RNAibased research products
Promega will receive a cash payment and
continued royalties from certain sublicenses; the agreement is part of a settled
contract dispute (8/22)
Biophage
Pharma Inc.
(Canada; TSE:BUG)
Integrated
Environmental
Technologies
Ltd. (OTC BB:IEVM)
Deal under which each
company can market a
pathogen detection and
control system
The combined marketing effort will promote IET’s EcaFlo equipment and Biophage’s
PDS Biosensor technology (9/23)
Cobra Biomanufacturing
plc (UK; AIM:CBF)
Auxilium
Pharmaceuticals
Inc. (AUXL)
Cobra will manufacture
and supply AA4500 for
Phase II/III trials
Auxilium is developing the protein drug for
Peyronie’s disease and Dupuytren’s disease;
the value of the deal exceeds $3.3M
through 2006 (8/2)
GTC
Biotherapeutics
Inc. (GTCB)
Merrimack
Pharmaceuticals
Inc.*
Deal for the further production
of Merrimack’s MM-093 by
GTC
The product is a recombinant version of
human alpha-fetoprotein in Phase II trials
for rheumatoid arthritis; terms were not
disclosed (9/20)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
305
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology Companies (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
JPT Peptide
Quality
Technologies
Biological Inc.*
GmbH* (Germany)
Nonexclusive deal under
which QBI will distribute JPT’s
peptide-based products in
America
JPT is a wholly owned subsidiary of Jerini
AG; terms of the deal were not disclosed
(9/15)
Large Scale
Biology Corp.
(LSBC)
Planet
Biotechnology
Inc.*
They expanded a deal to
extract and purify Planet’s
CaroRx
The deal expands on a July 2004 agreemment covering the plant-made antibody;
terms were not disclosed (7/12)
Nonlinear
Dynamics
Ltd.* (UK)
Invitrogen
Corp. (IVGN)
Invitrogen will promote and
distribute life science analysis
software from Nonlinear
The deal covers a number of products;
terms were not disclosed (8/29)
Omnia
Biologics Inc.*
Lentigen Corp.*
Omnia will provide Lentigen
access to its cGMP facilities
and services
The deal focuses on development of Omnia’s Lentiviral vector gene delivery technology; terms were not disclosed (8/17)
Omnia
Biologics Inc.*
AFG
Biosolutions
Inc.*
Omnia will provide AFG
with manufacturing and
product development services.
AFG works on products against potential
biological weapons; details on the deal
were not disclosed (7/19)
Progenitor
Cell Therapy
LLC*
Cellerant
Therapeutics
Inc.*
Progenitor will manufacture
Cellerant’s CLT-001
CLT-001 is a purified hematopoietic stem
cell product being developed for various
diseases; terms were not disclosed (9/13)
Verus
Paladin Labs
Pharmaceuticals Inc. (Canada;
Inc.*
TSE:PLB)
Deal to commercialize
Twinject in Canada
The product is an epinephrine auto-injector approved in Canada for emergency
treatment of severe allergic reactions;
terms of the deal were not disclosed (7/27)
Wave Biotech
LLC*
Novavax Inc.
(NVAX)
Collaboration to develop a
commercial-scale production
process for Novavax’s avian
flu vaccine and other products
They will use Wave’s disposable cell culture
technology in the effort; terms of the deal
were not disclosed (9/13)
XOMA Ltd.
(XOMA)
Cubist
Pharmaceuticals
Inc. (CBST)
Deal to develop new processes
to manufacture the twoantibody biologic HepeX-B
for Phase III trials
XOMA will develop processes for the manufacture of the two monoclonal antibodies
in the hepatitis B product; longer-term and
commerical deals are contemplated (9/20)
Manufacturing and marketing
deal relating to Acambis’
ChimeriVax-JE vaccine against
Japanese encephalitis
Bharat will be responsible for end-stage
fill/finish processing and would market
the vaccine in India and neighboring countries; terms were not disclosed (1 1/8)
FOURTH QUARTER
Acambis plc
(UK; ACAM)
306
Bharat Biotech
International
Ltd.* (India)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology Companies (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
Amarillo
Biosciences Inc.
(OTC BB:AMAR)
Global Kinetics
Inc.*
Global Kinetics will market
ABI’s low-dose oral interferon
product in Cambodia, Laos
and Vietnam
The product will be marketed for influenza
indications; terms of the deal were not
disclosed (10/20)
Cell Genesys
Inc. (CEGE)
Genzyme Corp.
(GENZ)
Genzyme acquired Cell
Genesys’ manufacturing operation in San Diego to support
its gene therapy programs
Cell Genesys gets $3.2M in cash in the deal;
most of the approximately 40 employees
have become Genzyme employees (1 1/22)
Cobra Biomanufacturing
plc (UK; AIM:CBF)
Advaxis Inc.
(OTC BB:ADXS)
Cobra will manufacture
experimental and commercial
supplies of Advaxis’ Listeria
cancer vaccines
The deal supersedes a prior agreement; the
initial product will be the Lovaxin C vaccine; terms of the deal were not disclosed
(1 1/7)
CombiMatrix
Group (CBMX)
CyGenics Ltd.
(Australia;
ASX:CYN)
Nonexclusive deal for the
distribution of CombiMatrix
products and services
CyGenics subsidiary Cell Sciences Pte. Ltd.
will sell CustomArrays and CatalogArrays
in Singapore, Malaysia, Thailand, the Philippines, Hong Kong and Indonesia (1 1/30)
CombiMatrix
Group (CBMX)
Novavax Inc.
(NVAX)
Collaboration to develop
an improved process for
producing Novavax’s H5N1
bird flu vaccine
They will use CombiMatrix’s technique for
in-process monitoring of vaccine production in the effort, terms of which were
not disclosed (1 1/9)
Dendritic Nanotechnologies
Inc. *
Lumera Corp.
(LMRA)
Deal to develop surface
chemistries suitable for
applications on Lumera’s
label-free array reader
The deal focuses on Lumera’s ProteomicProcessor product; terms were not disclosed (1 1/10)
Geneva
Bioinformatics
SA* (Switzerland)
Genedata AG*
(Switzerland)
Deal under which they will
integrate technologies for
analyzing proteomics data
The effort will integrate the Genedata
Expressionist solution with the Melanie/
ImageMaster 2D Platinum solution (10/26)
Gen-Probe
Inc. (GPRO)
Molecular
Profiling
Institute Inc.*
Deal to accelerate development
of cancer diagnostic products
from Gen-Probe
Molecular Profiling will help validate and
commercialize up to four products, and
provide certain contract research services;
Gen-Probe acquired a minority interest in
Molecular Profiling (10/26)
GenTel
BioSurfaces
Inc.*
Abnova Corp.*
(Taiwan)
Deal to develop custom
multiplex immunoassays
GenTel’s PATH Protein Microarray System
will be used in the effort; terms of the deal
were not disclosed (1 1/9)
Nonlinear
Dynamics
Ltd.* (UK)
Genedata AG*
(Switzerland)
Co-marketing deal to promote
synergies between their
Progenesis and Expressionist
solutions
The solution will be used to generate data
in proteomics research; terms of the deal
were not disclosed (10/20)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
307
2005 Manufacturing, Marketing And DIstribution Agreements Between Biotechnology Companies (Continued)
Company*
(Country;
Symbol)
Company*
(Country;
Symbol)
Product
Terms/Details (Date)
Omnia
Biologics Inc.*
Lentigen Inc.*
Nonexclusive deal regarding
the manufacturing of clinicaland research-grade lentiviral
vectors
Each may refer clients to the other party for
its respective services; additional terms
were not disclosed (12/6)
Peregrine
Undisclosed
Pharmaceuticals company
Inc. (PPHM)
Peregrine will provide
development services and
clinical supply manufacturing
of a monoclonal antibody
The antibody is in Phase II trials; the work
will be done by Peregrine subsidiary Avid
Bioservices Inc. (10/20)
Pluristem
Life Systems
Inc. (Israel;
OTC BB:PLRS)
Biological
Industries Ltd.*
(Israel)
Deal for the global distribution
of joint serum-free media
products designed for hematopoietic and mesenchymal
stem cells
They will use Pluristem’s PluriX bioreactor
in the effort; Pluristem gets a license fee
equal to 5% of sales of serum-free media
for seven years (10/20)
Solvo
Biotechnologies
Inc.* (Hungary)
In Vitro
Technologies
Inc.*
IVT will distribute Solvo’s
in vitro ABC membrane
transporter assay product
line in the U.S. and Canada
Terms of the deal were not disclosed
(10/24)
Strand Life
Sciences Pvt.
Ltd.* (India)
Stratagene
Corp. (STGN)
Deal to develop a suite of
next-generation bioinformatics
software tools
Stratagene will exclusively market resulting products, which will use Strand’s Avadis
technology (12/8)
Third Wave
Technologies
Inc. (TWTI)
Genzyme Corp.
(GENZ)
They formed a preferred
marketing agreement for
Third Wave’s Invader UGT1A1
Molecular Assay
Genzyme Genetics will provide testing for
colorectal cancer patients in North America
who may or are taking the cancer drug
Camptosar; terms were not disclosed (10/27)
Three Rivers
Samaritan
Pharmaceuticals Pharmaceuticals
LLC*
Inc. (AMEX:LIV)
Samaritan got rights to
distribute the amphotericin B
product Amphocil in Greece
and Cyprus
Amphocil is indicated for the treatment of
invasive aspergillosis; terms of the deal
were not disclosed (12/14)
Transgene
SA (France;
Eurolist:
FR0005175080)
Innogenetics
NV (Belgium;
Euronext:INNX)
Transgene will manufacture
Innogenetics’ hepatitis B
therapeutic vaccine candidate
The vaccine construct was developed by
Transgene under a previous service agreement; terms were not disclosed (10/13)
Tripos Inc.
(TRPS)
InforSense
Ltd.* (UK)
Companies will integrate
drug discovery platforms
Terms of the deal were not disclosed
(12/12)
Notes:
* Private companies are indicated with an asterisk.
Unless otherwise noted, stock symbols listed are on the Nasdaq market.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; FSE = Frankfurt
Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin
Board; TSE = Toronto Stock Exchange.
308
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech Miscellaneous Collaborations
Company*
(Country;
Symbol)
Company
(Country)
Type/Product Area
Terms/Details (Date)
FIRST QUARTER
Geneva
Bioinformatics
SA* (Switzerland)
Current
Science Group
(UK)
They formed a joint venture
company named Current
BioData Ltd.
The new company will focus on the further
development and marketing of GeneBio’s
ProXenter discovery platform (3/3)
NuGEN
Technologies
Inc.*
MediBIC Inc.*
(Japan)
MediBIC will support the
adoption of NuGEN’s Ovation
family of RNA amplification
systems in Asia
Terms of the deal were not disclosed (2/1)
Phenomenome
Discoveries
Inc.*
PrecisionMed
Inc.
Collaboration to develop
diagnostics for Alzheimer’s
disease and bipolar disorder
The effort will combine PrecisionMed’s clinical samples and information and PDI’s
discovery and testing platform (2/4)
Artemis
Taconic Farms
Pharmaceuticals Inc.
GmbH (Germany;
subsidiary of
Exelixis Inc.; EXEL)
Alliance for the generation
and marketing of genetically
engineered mice
The deal combines Artemis’ leading technology in mouse genetics and genomics
with Taconic’s expertise in rodents; terms
of the deal were not disclosed (6/20)
Avant ImmunoTherapeutics
Inc. (AVAN)
Paul Royalty
Fund II LP
Paul Royalty purchased an
interest in royalties Avant
will receive from sales of
Rotarix by GlaxoSmithKline
plc
Avant gets $10M and would get $40M upon
product launch in Europe and about $10M
upon launch in the U.S.; Avant also retained
an interest in royalties from the product,
which is used against rotavirus infections
(5/18)
Diversa Corp.
(DVSA)
Bio Integration
Technology Inc.
(China)
Collaboration to identify
opportunities for Diversa’s
enzyme products in the
Chinese oil and gas industry
Terms of the deal were not disclosed (4/25)
Diversa Corp.
(DVSA)
Cargill Health
and Food
Technologies
Collaboration to develop
enzymes for the cost-effective
production of an undisclosed
product
Diversa gets up-front payments and
research funding, and is entitled to milestone payments, license fees and royalties
on resulting products (4/1 1)
Genaissance will provide
pharmacogenetic clinical
development services to
clients of INC
INC is a contract research organization;
terms of the deal were not disclosed (6/7)
SECOND QUARTER
Genaissance
INC Research
Pharmaceuticals
Inc. (GNSC)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
309
2005 Biotech Miscellaneous Collaborations (Continued)
Company*
(Country;
Symbol)
Company
(Country)
Type/Product Area
Terms/Details (Date)
Geneva
Bioinformatics
SA* (Switzerland)
KOOPrime Pte.
Ltd. (Singapore)
KOOPrime will distribute
GeneBio’s Phenyx software
platform in Singapore,
Malaysia, China and Taiwan
The platform is used to identify and characterize proteins and peptides from mass
spectrometry data; terms of the deal were
not disclosed (6/22)
Geneva
Bioinformatics
SA* (Switzerland)
Hitachi Software
Enginerring Co.
Ltd. (Japan)
Hitachi will distribute
GeneBio’s Phenyx software
platform in the Japanese market
The platform is used to identify and characterize proteins and peptides from mass
spectrometry data; terms of the deal were
not disclosed (6/2)
LineaGen
Research Corp.*
and the University
of Utah Health
Sciences Center
IBM
Collaboration to create a
clinical genomics infrastructure
designed to accelerate the
molecular understanding of
complex diseases
IBM initally will intgrate Utah population
databases into its Clinical Genomics
Solution; future phases will center on development of tools to support molecular models of genetic disease (5/18)
Palatin
Technologies
Inc. (AMEX:PTN)
Competitive
Technologies
Inc. (AMEX:CTT)
They settled a dispute on a
license agreement regarding
certain peptides for treating
sexual dysfunction
The technology-transfer company gets
$1.7M in cash and 170,000 Palatin shares;
Palatin and partner King Pharmaceuticals
Inc. retain all rights to PT-141 (6/23)
PharmaFrontiers INC
Corp. (OTC BB:
Research Inc.*
PFTR)
Deal under which INC will
manage PharmaFrontiers’
multiple sclerosis development
program
INC is a contract research organization;
PharmaFrontiers’ MS product Tovaxin is
moving into Phase II trials; terms of the deal
were not disclosed (5/3)
Senomyx Inc.
(SNMX)
Kraft Foods
Global Inc.
They extended the research
phase of their collaboration
to discover flavor modifiers
in the dessert category
The deal was extended to July 30, 2005;
Senomyx gets research funding and is
entitled to royalties on any resulting sales
(5/2)
Senomyx
Inc. (SNMX)
Nestle SA
(Switzerland)
They extended for three years
a deal to discover novel flavors
and flavor enhancers in the
dehydrated and culinary food
and frozen food fields
The initial three-year deal was signed in
2002; Senomyx will get funding of up to
$6.6M in the extension and would get
royalties on any resulting sales (4/20)
Spectrum
Robert E. Bases
Pharmaceuticals
Inc. (SPPI)
Spectrum acquired rights to
lucanthone, a radiation
sensitizer in Phase II trials
Bases is inventor of a method of treating
cancer of the central nervous system
through the administration of lucanthone and
radiation; terms were not disclosed (5/17)
Vion
B&P Co. Inc.
Pharmaceuticals
Inc. (VION)
B&P got nonexclusive rights
to use Vion’s Melasyn
technology
B&P plans to develop cosmetic products
incorporating Melasyn, a synthetic form of
melanin; Vion would get royalties on sales
in countries where it has patents (4/15)
Xenogen Corp.
(XGEN)
MIR purchased and sublicensed Xenogen’s biophotonic imaging technologies
The contract research organization got
rights to use the technology in preclinical
research except in infectious diseases
(4/12)
310
MIR Preclinical
Services
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotech Miscellaneous Collaborations (Continued)
Company*
(Country;
Symbol)
Company
(Country)
Type/Product Area
Terms/Details (Date)
THIRD QUARTER
Neurobiological
Technologies
Inc. (NTII)
Celtic Pharma
Holdings LP
(Bermuda)
Celtic, an equity firm, got
rights to Xercept, a product
in Phase III trials for swelling
associated with brain tumors
NTI gets $33 million in up-front payments
and up to $15M more if regulatory objectives are reached; it would have a profitsharing arrangement in the U.S. and get
royalties on sales outside the U.S. (9/20)
NewGen
Technologies
Inc. (OTC BB:
NWGN)
Advanced
Biotechnology
Inc.
They formed a joint venture
to build and operate
biodiesel plants in the
Southeast
The venture between NewGen subsidiary
ReFuel America Inc. and ABI will be named
Advanced Biotechnologies LLC; terms were
not disclosed (9/14)
Novavax
Inc. (NVAX)
Pharmelle LLC
Novavax sold the non-core
products AVC Cream,
NovaNatal and NovaStart
to Pharmelle
Novavax got $2.5M and would get royalty
payments if product sales exceed certain
levels (9/23)
Senomyx
Inc. (SNMX)
Kraft Foods
Global Inc.
They extended for two years
a deal on flavor modifiers for
a dessert product category
and on an existing food and
beverage product field
Senomyx gets discovery and development
funding of $2.7M over the two-year extension period and would get royalty payments on any resulting sales (7/29)
Senomyx
Inc. (SNMX)
Cadbury Adams
USA LLC
Deal for the discovery of
new flavor ingredients in the
gum confectionary area
Senomyx gets research funding and is entitled to milestone and royalty payments in
the deal (7/18)
FOURTH QUARTER
Amarillo
Biosciences Inc.
(OTC BB:AMAR)
Gesellschaft Fur
Medizinisch and
Technische
Investionen mbH
& CoKG (Germany)
Amarillo entered a deal with
Curtis Martin, CEO of the
German venture capital firm,
for commercialization of
low-dose oral interferon
GMTI will work to commercialize the product in Thailand, Brunei, Myanmar, the
Philippines, Malaysia, Singapore and Indonesia; terms were not disclosed (1 1/30)
ChondroGene
Ltd. (Canada;
CDNX:CDG)
Kaiser
Permanente
Deal to develop a research
database infrastructure for
use in genomic research
The principal objective of the database is
to standardize and achieve consistency in
the format of data for future studies; terms
were not disclosed (10/28)
IT-omics*
(France)
OmniViz Inc.*
Deal to integrate software
for use in the drug discovery
process
Terms of the deal were not disclosed;
OmniViz focuses on visual informatics software (1 1/29)
Notes:
* Private companies are indicated with an asterisk.
Unless otherwise noted, the trading symbols listed for public companies are on the Nasdaq market.
AMEX = American Stock Exchange; CDNX = Canadian Venture Exchange; OTC BB = Over-the-Counter Bulletin Board.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
311
2005 Collaborations Between Biotechnology Companies and
Universities/Nonprofit Institutions
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Adherex
Technologies
Inc. (AMEX:ADH)
National Cancer
Institute
Level III
collaboration
For clinical development of the company’s
lead compound, ADH-1
(Exherin)
Following additional preclinical
work, they will negotiate a Cooperative Research and Development Agreement under which
the NCI would sponsor trials
(3/1 1)
Affymetrix
Inc. (AFFX)
Harvard
Medical School
Agreement
Harvard gets early
access to nextgeneration GeneChip
human mapping
microarrays
The Partners HealthCare Center
for Genetics and Genomics at
Harvard will examine patient
samples to research the genetic
origins of atherosclerosis (2/16)
Affymetrix
Inc. (AFFX)
Karolinska
Institutet
(Sweden)
Alliance
Five-year deal to accellerate the translation
of basic genetic
research into tools to
improve health care
Disease areas include atherosclerosis, breast cancer, rheumatoid
arthritis, asthma and dyslexia;
the institute is part of the Affymetrix Translational Medicine
Initiative (2/8)
Affymetrix
Inc. (AFFX)
Institut Curie
(France)
Alliance
They will use GeneChip
microarray technology
in clinical trials to
produce genetic
signatures for cancer
The institute will conduct the
studies; the goal is to develop
diagnostic tests, initally for prognosis of breast and eye cancers;
terms were not disclosed (2/2)
Applied
Biosystems
(NYSE:ABI)
National Center
for Toxicological
Research of the
FDA
Collaboration
Applied Biosystems
will help investigate
toxicity of diabetes
drugs
The company will use its Expression Array System and Rat
Genome Survey Microarray on
samples provided by the FDA/
NCTR; terms were not disclosed
(3/9)
Applied
Biosystems
(NYSE:ABI)
Stanford
University and
University of
Miami
Collaboration
expansion
They will continue
studying genetic
biomarkers associated
with response in diffuse
large B-cell lymphoma
They also will begin studies to
assess the predictive value of
six genes on a certain chemotherapy regimen (1/10)
Ardana
Bioscience
Ltd. (UK; LSE:ARA)
UK Medical
Research Council
Agreement
extension
Deal made in 2000
was extended for
three years
Ardana gets rights to certain
areas of the MRC’s Human Reproductive Sciences Unit, which
would get cash payments if
options are exercised (2/3)
FIRST QUARTER
312
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
AVAX
Technologies
Inc. (OTC BB:AVXT)
Presbyterian
Medical Center
Collaboration
To conduct a trial
of AVAX’s AC Vaccine
in patients with nonsmall-cell lung cancer
Presbyterian Medical Center and
Hospital of the University of
Pennsylvania will be exclusive
partners and sites for the trial
(2/22)
Avidex Ltd.*
(UK)
Ludwig Institute
for Cancer
Research
(Germany)
Research
collaboration
Research will focus on
immune effector
molecules to NY-ESO-1expressing tumors
The collaboration is based on an
Avidex soluble monoclonal T-cell
receptor that targets the antigen; terms were not disclosed
(3/14)
Aviva Systems
Biology*
University of
California at
San Diego
License
agreement
Aviva got rights to
Gene Regulation
Elements Mapping
and Analysis technology
The technology is used to detect
DNA fragments that interact with
proteins; terms of the exclusive
license were not disclosed (1/31)
Benitec Ltd.
(Australia; ASX:BLT)
Garvan Institute
of Medical
Research
(Australia)
License
agreement
Benitec got rights to
develop RNA-based
drugs for diabetes,
obesity and related
disorders
The work will focus on the c-Ccbl
gene as a target; they also are
discussing entering a collaboration in the area; terms were not
disclosed (2/3)
Biokine
Therapeutics
Inc.* (Israel)
University of
Kyoto (Japan)
Product
acquisition
Biokine purchased all
rights to T-140, a
CXCR4 chemokine
receptor antagonist
The product may have applications in inflammatory disorders,
HIV and cancer; terms were not
disclosed (3/1)
BioLineRx
Ltd. (Israel)
Tel Aviv
License
University and
agreement
Bar Ilan University
(both in Israel)
BioLineRx licensed
rights to BL-2010, a
product for treating
resistant cancer
Terms of the deal were not disclosed (1/12)
BioLineRx
Ltd. (Israel)
The Hebrew
University (Israel)
License
agreement
BioLineRx licensed
BL-1050, an HIV
therapeutic
Terms of the deal were not disclosed (1/12)
Bionomics Ltd.
(Australia; ASX:BNO)
Walter and Eliza
Hall Institute
(Australia)
Collaboration
Letter of intent
for a drug discovery
collaboration in the
area of ion channels
The goal is to identify new lead
molecules for treating central
nervous system disorders; terms
were not disclosed (2/25)
BioVeris
Corp. (BIOV)
National
Research Council
of Canada
License
agreement
BioVeris got rights to
vaccines candidates for
group B streptococcus
and B meningococcus
vaccines
BioVeris got worldwide rights to
the vaccines, and will pay a royalty on sales, including a minimum $10,000 annual royalty that
begins immediately (2/10)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
313
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
BioVeris
Corp. (BIOV)
Children’s
Hospital &
Research Center
at Oakland
License
agremeent
BioVeris got rights to
a vaccine candidate
for Neisseria meningitidis serogroup B
BioVeris also will pay $800,000
over two years to sponsor research on the vaccine; BioVeris
would pay up-front, milestone
and royalty fees if it exercises
its option (1/13)
BioVeris
Corp. (BIOV)
Brooke Army
Medical Center
Collaborative
Research &
Development
Agreement
Deal to develop a
BioVeris will be able to commerBioveris test for
cialize tests identified under the
detecting markers of
two-year agreement (1/5)
disease and progression
Carrington
Laboratories
Inc. (CARN)
Southern
Research
Institute
Collaboration
renewal
They added one year
to 2002 deal to develop
drug-delivery technology based on the
natural polymer GelSite
The deal was made with Carrington subsidiary DelSite Biotechnologies Inc.; terms were not
disclosed (2/15)
CeMines Inc.*
The Children’s
Hospital of
Denver
Research
project
To improve the
diagnosis and monitoring of childhood
leukemia
CeMines is sposoring the project,
which is based on its Molecular
FingerPrinting diagnostic process (1/27)
ChemDiv Inc.*
University
of Maryland
Collaboration
Deal to discover drugs
for treating breast
cancer
The university’s Greenebaum
Cancer Center gets access to
ChemDiv libraries; ChemDiv also
will provide medicinal chemistry
services (1/18)
ChemGenex
Pharmaceuticals
Ltd. (Australia;
ASX:CXS)
University of
Texas M.D.
Anderson
Cancer Center
License
agreement
ChemGenex licensed
an anticancer
platinum agent,
now named CXS299
The agent is believed to have
enhanced activity against cells
that have the wild-type p53 gene;
terms were not disclosed (2/9)
Ciphergen
Biosystems
Inc. (CIPH)
Johns Hopkins
University
School of
Medicine
Collaboration
renewal
They are working to
discover novel protein
biomarkers in the field
of cancer
Ciphergen will continue to provide financial support, technical
assistance and access to technology platforms; it has rights to
resulting discoveries (3/17)
Ciphergen
Biosystems
Inc. (CIPH)
University of
Texas M.D.
Anderson
Cancer Center
Research
and license
agreement
To use Ciphergen’s
technologies to further
research in ovarian
cancer
Ciphergen division Ciphergen
Diagnostics plans to refine biomarkers for use in an ovarian
cancer diagnostic test (2/15)
Cryptome
Pharmaceuticals
Ltd. (Australia;
ASX:CRP)
University
of Virginia
License
agreement
Cryptome got an
option to a class of
protein-derived
compounds with antiinflammatory action
Crytome has 12 months to exercise the option; the lead product
is CR014, designed to prevent
leakage of fluid through blood
vessel walls (2/22)
314
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Crucell NV
(the Netherlands;
CRXL)
National
Institutes of
Health
License
agreement
Crucell got exclusive
rights to patents for use
in recombinant vaccines
against Ebola virus
The patents cover vaccine components, such as Ebola antigens and vectors; terms of the
deal were not disclosed (3/18)
Diffusion
Pharmaceuticals
LLC*
New Approaches
to Brain Tumor
Therapy
consortium
Agreement
NABTT will test Diffusion’s trans sodium
crocetinate as a
radiation sensitizer
NABTT will conduct Phase I and II
clinical trials in two different
patient populations (3/1)
Emergent
BioSolutions
Inc.*
Health
Protection
Agency (UK)
Collaboration
Two-year deal to
develop vaccines to
prevent botulism
Emergent will spend at least $2M
on the project and gets worldwide rights, except in the UK (1/14)
Genaissance
Pharmaceuticals
Inc. (GNSC)
Vanderbilt
University
License
agreement
Genaissance got rights
to technology for
screening patients for
susceptibility to
drug- induced cardiac
arrhythmias
The technology covers testing
for the presence of a common
polymorphism in KCNE1, a cardiac ion-channel gene; terms
were not disclosed (1/26)
GeneCopoeia
Inc.*
RZPD (German
genome
research center)
Distribution
deal
RZPD will distribute
certain GeneCopoeia
products in Europe
The deal includes GeneCopoeia’s
seven sets of 1 6,000 human
OmicsLink ORF expression
clones; terms were not disclosed
(2/9)
Generex
Emory University Collaborations
Biotechnology
and Imperial
Corp. (Canada; GNBT) College of London
Deal to develop a
smallpox vaccine based
on using modified
peptide antigens to
stimulate immunity
Generex subsidiary Antigen
Express will work with scientists
at the universities; terms were
not disclosed (2/10)
Geron Corp.
(GERN)
Hong Kong
University of
Science and
Technology
Alliance
They formed a company
to use telomerase
activation to restore
function in certain aged
or diseased tissues
Geron and the university’s Biotechnology Research Corp.
established TA Therapeutics Ltd.
in Hong Kong; each owns 50% of
the new company (3/2)
GMP Companies
Inc.*
Mayo Medical
Laboratories
License
agreement
Mayo will use GMP
technology for
gene-based testing
The deal was made with GMP
Genetics Inc.; terms were not disclosed (1/27)
Hemispherx
Biopharma Inc.
(AMEX:HEB)
U.S. governmentsponsored
laboratories
Collaboration
For further studies of
Hemispherx’s Alferon
N against avian
infleunza
Details of the work were not disclosed (2/7)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
315
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Icoria Inc.
(ICOR)
U.S. Army
Edgewood
Chemical
Biological Center
Cooperative
Research and
Development
Agreement
To identify and validate
biomarkers associated
with exposure to chemical warfare agents
The deal runs through October;
contingent on future funding,
they may conduct additional
studies and develop a prototype
blood-based field assay (1/27)
Ingenuity
Systems Inc.*
Erasmus
University
Medical Center
(the Netherlands)
License
agreement
The center licensed
access to the Ingenuity
Pathways Analysis
software
They also entered a collaboration
to develop new algorithms, visualizations and practical applications in molecular and clinical
diagnostics (3/23)
Innovive
Pharmaceuticals
Inc.*
Penn State
University
License
agreement
Innovive got worldwide
rights for the use of
opioid growth factor in
oncology applications
OGF, also known as (Met5)-enkephalin, will be developed under
the name INNO-105; terms of the
deal were not disclosed (3/17)
Insmed Inc.
(INSM)
University of
California at
San Francisco
Option
agreement
Insmed got an option
to use IGF-1 receptor
antagonists to treat
prostate cancer
Research on the compounds will
complement an existing Insmed
program; terms of the deal were
not disclosed (3/17)
Juvaris BioTherapeutics
Inc.*
International
AIDS Vaccine
Initiative
Collaboration
Deal to use Juvaris’
immunostimulant
technology to screen
HIV vaccine candidates
IAVI investigators will test the
technology with HIV antigens;
terms of the deal were not disclosed (3/23)
Large Scale
Biology Corp.
(LSBC)
University of
Utah Research
Foundation
Collaboration
To identify biomarkers
from maternal blood
tests for the early
diagnosis of pregnancyrelated complications
and disorders
LSBC subsidiary Predictive Diagnostics Inc. will analyze blood
samples provided by UURF;
terms of the deal were not disclosed (3/21)
Lumera Corp.
(LMRA)
Institute for
Systems Biology
Collaboration
To develop a highthroughput platform
for proteomics research
Terms of the deal were not disclosed (2/14)
Medical Marketing
International
Group plc
(UK; AIM:MMG)
King’s College
London
License
agreement
Their joint venture,
Viratis, licenced a
hepatitis therapy that
uses ribozyme
technology
Details of the deal were not
disclosed (3/4)
Medical Marketing
International
Group plc
(UK; AIM:MMG)
King’s College
London and
Queen Mary
University
License
agreement
Technology for
autoimmune diseases
was added to their
Viratis joint venture
MMI’s stake in Viratis will increase to 72% as it provides further
development funding (2/3)
316
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Medicure Inc.
(Canada; TSE:MPH)
University of
Manitoba and
University of
Ottawa Heart
Institute (Canada)
License
agreements
Medicure acquired
rights to a technology
platform focused on
development of lipidlowering therapeutics
Medicure and the researchers
will advance the platform; Medicure gets worldwide rights (1/27)
Metabolon
Inc.*
Massachusetts
General Hospital
Collaboration
To discover biomarkers The work is being funded by a
for diabetic nephropathy grant from the National Institute
in Type I diabetes
of Diabetes and Digestive and
Kidney Diseases to Massachusetts General Hospital (3/29)
Metabolon
Inc.*
High Q
Foundation
Collaboration
They will perform a
biomarker study for
Huntington’s disease
Metabolon will test plasma samples obtained from patients; they
want to find markers to diffferentiate controls and disease (1/19)
MicroIslet
Inc. (AMEX:MII)
Mayo Foundation
for Medical
Education and
Research
Supply
agreement
Mayo will supply
Designated PathogenFree pigs to MicroIslet
for use in development
of MicroIslet-P
The product entails use of porcine islets in diabetes; the agreement is exclusive in diabetes
during the deal and could lead to
a long-term supply agreement
(3/15)
Millenia Hope
Inc. (OTC BB:MLHP)
University of
West Virginia
License
agreement
Millenia acquired all
rights to the Phase
III product tetrandrine
The drug is being developed for
malaria and cancer applications;
the deal was made with the
inventor at the university (2/1 1)
Nanobac Life
Sciences Inc.
(OTC BB:NNBP)
University of
South Florida
Collaboration
For research related
to the prevalence and
implications of
nanobacteria in
environmental samples
The focus is on water distribution systems and possible treatment methods; terms were not
disclosed (2/4)
Narhex Life
Sciences Ltd.
(Australia; ASX:NLS)
National Institute Collaboration
of Allergy and
Infectious Diseases
They will evaluate the
protease inhibitor
Nar DG 35 Prodrug
Narhex’s drug will be studied for
actvity against hepatitis C and
the SARS virus (1/1 1)
NuGEN
Technologies
Inc.*
AMDeC
Foundation
Agreement
NuGEN will provide
RNA amplification
systems to AMDeC
member institutions
AMDeC promotes biomedical
research in New York; terms of
the deal were not disclosed (3/9)
Osteotech
Inc. (OSTE)
Rutgers
University
License
agreement
Osteotech got rights
to a polymer class
for use as part of its
Plexus technology
Rutgers get $50,000 up front and
up to $650,000 in milestone payments, as well as license fees and
royalties on sales (2/3)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
317
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
OXIS
International
Inc. (OTC BB:OXIS)
Various scientists
and laboratories
Collaboration
To develop an oxidative
stress paradigm to
diagnose early onset of
human and animal
diseases
OXIS intends to develop diagnostic biomarkers for a number of
diseases, working with specialists in the disease areas (1/12)
PamGene
International BV*
(the Netherlands)
Netherlands
Proteomics
Centre
Collaboration
To further develop
technology for
proteomics research
The work will focus on functional
proteomics; details were not
disclosed (3/8)
ParAllele
BioScience Inc.*
University
of Iowa
Collaboration
To accelerate the
discovery of genes
associated with agerelated macular
degeneration
Iowa researchers will use the
pharmacogenomics and highthroughput gene mutation discovery technologies of ParAllele
in their research (3/29)
Perligen
Sciences Inc.*
University of
Cambridge,
Cancer Research
Technology and
Cancer Research
UK (all in the UK)
Collaboration
To conduct a wholegenome association
study on breast cancer
Cancer Research UK is funding
the work, which will determine
more than 200 million individual
genotypes in DNA samples collected from patients (2/16)
Prolexys
Pharmaceuticals
Inc.*
Massachusetts
Institute of
Technology
License
agreement
Prolexys got rights to
a series of small molecules with cancerspecific cytotoxic
properties
MIT acted as licensing agent for
Whitehead Institute for Biomedical Research and Columbia University; terms were not disclosed
(2/23)
Resverlogix
Corp. (Canada;
TSE:RVX)
Cedars-Sinai
Medical Center
Collaboration
They will work on
Resverlogix’s Nexvas
compounds for treating
cardiovascular diseases
The work is being done with
atherosclerosis researcher Prediman Shah; terms were not disclosed (1/26)
Serologicals
Corp. (SERO)
University
of California
License
agreement
Serologicals subsidiary
Upstate Group got rights
to sell the anti-ZAP-70
monoclonal antibody
for diagnostic uses
Expression levels of the ZAP-70
protein have been shown to predict the aggressiveness of chronic lymphocytic leukemia; terms
of the deal were not disclosed
(3/28)
Sigma-Aldrich
Corp. (SIAL)
Massachusetts
Institute of
Technology
Agreement
Sigma-Aldrich will
serve as scientific
collaborator and
distribution partner of
The RNAi Consortium
The consortium based at The
Broad Institute includes seven
research institutions and four
commercial partners; its goal
over three years is to create a
library of RNAi reagents (3/15)
318
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Somaxon
Pharmaceuticals
Inc.*
University
of Miami
License
agreement
Soma xon got rights to
a patent on the use of
oral nalmefene hydrochloride for treating
nicotine dependence
The deal extends the scope of
rights for Somaxon, which previously licensed rights from BioTie
Therapies Corp. (2/22)
SurModics
Inc. (SRDX)
Rutgers
University
License
agreement
SurModics got an
option to acquire an
exclusive license to two
classes of biodegradable polymers
The polymers will be used for
site-specific delivery of drugs to
the eye; terms of the deal were
not disclosed (3/29)
U.S. BioDefense
Inc. (OTC BB:UBDE)
University
of Minnesota
License
agreement
U.S. BioDefense got a
six-month option to
license a patent on
hematopoietic stem
cells
The patent covers a method for
selective engraftment of drugresistant stem cells, which can be
applied to gene therapy; terms
were not disclosed (3/21)
U.S. BioDefense
Inc. (OTC BB:UBDE)
University
College London
License
agreement
U.S. Bio got a 90-day
option to hepatic stem
cell sorting and
enrichment technology
The technology will be evaluated for therapeutic repopulation
of stem cells in liver disease
(2/23)
U.S. BioDefense
Inc. (OTC BB:UBDE)
Undisclosed
university
Option
agreement
U.S. Biodefense will
evaluate an adult stem
cell sorting and enrichment technology
The option is expected to be
exercised in June, when further
details would be disclosed (1/25)
Xenova Group
plc (UK; XNVA)
Cancer Research
Technology Ltd.
(UK)
License
agreement
CRT got rights to
TA-CIN, which is being
developed for treating
cervical dysplasia
CRT intends to initiate further
trials and to sublicense the vaccine; they would share revenues
from licensing deals (1/10)
Ziopharm
Inc.*
Southern
Research
Institute
Collaboration
Two-year deal to
develop a series of
isophosphoramide
mustard analogues
Ziopharm also got an option to
exclusive worldwide rights on
the alkylating agents (1/7)
SECOND QUARTER
Ablynx NV*
(Belgium)
National
Research Council
of Canada
Collaboration
The work focuses on
Nanobodies developed
at the NRC that cross
the blood-brain barrier
They plan to develop drugs and
diagnostics for central nervous
system diseases, initially Alzheimer’s disease; terms were not
disclosed (5/26)
Aegis
Therapeutics
Inc.*
Albany Medical
College
License
agreement
Aegis got rights to
the college’s
anti-obesity peptide
Aegis will assess the peptide
with its Intravail intranasal delivery technology; terms of the deal
were not disclosed (5/16)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
319
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
AEterna
Zentaris Inc.
(Canada; AEZS)
Julius
Maximilians
University
(Germany)
Collaboration
Deal to develop
tumor vaccines based
on attenuated bacterial
carriers
AEterna also acquired rights to
immunotherapeutic approaches
against cancer and bacterial
tumor targeting; terms were not
disclosed (4/21)
Affitech A/S*
(Norway)
Research
Foundation of
the Norwegian
Radium Hospital
License
agreement
Affitech got exclusive
rights to cancerspecific human
antibodies
Affitech and the hospital have
been collaborating in the area,
using Affitech’s Cell-Based Antibody Selection technology; terms
were not disclosed (5/18)
Akubio Ltd.*
(UK)
U.S. Army
Collaboration
To develop improved
systems for detecting
bioterrorism agents
The work will be done with the
U.S. Army Medical Research Institute of Infectious Diseases and
is being supported by $3M from
the National Institute of Allergy
and Infectious Diseases (5/17)
Alnylam
Pharmaceuticals
Inc. (ALNY)
Max Planck
Society
(Germany)
License
amendment
Amended deal
reinforces Alnylam’s
exclusivity for the
“Tuschl II” patent
application
The patent is one believed by
the company to be fundamental
for RNA interference; Alnylam
will issue 270,000 shares to Max
Planck and other co-owners of
the technology (6/16)
Alnylam
Pharmaceuticals
Inc. (ALNY)
University
of Georgia
Collaboration
To discover and
develop RNAi-based
therapeutics for newly
emerging strains of
influenza virus
Alnylam intends to discover
siRNAs that target flu genes required for viral replication and
have antiviral activity; terms of the
deal were not disclosed (6/25)
Andara Life
Science Inc.*
Purdue
University
License
agreement
Andara got rights to
develop the oscillating
field stimulator
technology
The technology is designed to
stimulate nerve regeneration
and has applicability in central
nervous systems diseases; terms
were not disclosed (4/14)
Applied Imaging
Corp. (AICX)
University
of Vermont
Collaboration
To further develop and
validate technology to
detect and characterize
circulating tumor cells
in the blood
Applied Imaging subsidiary CTC
Inc. will work with the university in the deal, terms of which
were not disclosed (5/26)
Arrowhead
Research Corp.
(ARWR)
Stanford
University
License
agreement
Arrowhead licensed
a nanotech device
designed to control
the behavior of adult
stem cells
Arrowhead will fund additional
research on the device in exchange for the right to exclusively
license the technology (6/6)
320
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Arrowhead
Research Corp.
(ARWR)
Ludwig
Maximilians
University
(Germany)
Patent
acquisitions
The patents cover
nanosensor technology
for use in disease
diagnosis
The portfolio covers techniques
for measuring biomolecular
interactions by single-moleculeforce spectroscopy; it complements Arrowhead’s IP (5/19)
Avantogen
Ltd. (Australia;
ASX:ACU)
University of
Alabama at
Birmingham
Collaboration
For preclinical studies
of a vaccine for herpes
simplex virus type 2
UAB will use the firm’s GP1-0100
adjuvant with a live, attenuated
HSV-2 vaccine candidate (6/7)
BioCurex Inc.*
(PK:BOCX)
Center for
Cancer Care
Collaboration
Deal to develop and
evaluate BioCurex’s
RECAF technology
The technology is used in targeting cancer cells; terms of the deal
were not disclosed (5/20)
BioLineRx
Ltd.* (Israel)
Weizmann
Institute of
Science (Israel)
License
agreement
BioLineRx licensed
BL-2040, a small-molecule drug candidate
The compound may have applications in treating hypertension,
obesity and metabolic syndrome;
terms were not disclosed (6/20)
Bionaut
Pharmaceuticals
Inc.*
National Cancer
Institute
Collaboration
Deal to profile Bionaut
cancer compounds that
inhibit the ability of
tumor cells to survive
stress conditions
They also will work to identify
new biomarkers in tumor cells
that are affected by Bionaut’s
lead cancer compounds; terms
were not disclosed (5/19)
BioVeris Corp.
(BIOV)
University of
Massachusetts
at Amherst
Option
agreement
BioVeris optioned rights
to a vaccine candidate
for Chlamydia
Separately, BioVeris will sponsor
up to $600,000 of research on
the candidate at UMA through
2006; if optioned, UMA would
get license fees and potential
milestones and royalties (5/25)
Biovitrum AB*
(Sweden)
Karolinska
Institute
(Sweden)
Agreement
Biovitrum will produce
a protein for preclinical
research based on a
technique developed at
the institute
Biovitrum, on behalf of the
Department of Woman and Child
Health, will produce recombinant
HMGB-1, which is implicated in
inflammatory reactions (5/31)
Bridge
Pharmaceuticals*
National
Foundation for
Cancer Research
Collaboration
They will jointly fund
and manage cancer
research programs in
both the U.S. and Asia
The goal is to accelerate discovery and development at a lower
cost (5/17)
CellCentric
Ltd.* (UK)
Babraham
Institute (UK)
License
agreement
CellCentric got rights
to epigenetic-related
intellectual property
generated at Babraham
CellCentric will use its discovery
platform to develop cancer products and fund specific research
at the institute (4/7)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
321
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Cenix
BioScience
GmbH* (Germany)
Instituto de
Medicina
Molecular
(Portugal)
Collaboration
They intend to identify
human genes required
for the malaria
infection process
The work, using an vitro assay
system at the institute, is being
funded by European agencies
(6/29)
ChemBridge
Research
Laboratories Inc.*
St. Jude
Children’s
Research
Hospital Inc.
Collaboration
They extended a previously unannounced
deal on targets related
to anaplastic lymphoma
kinase
They will apply CRL’s discovery
medicinal chemistry platform to
targets from St. Jude cancer
research; terms of the deal were
not disclosed (5/4)
ChondroGene
Ltd. (Canada;
TSE:CDG)
Lam Wa EE
Hospital and
Island Hospital
(both in Malaysia)
Collaborations
The hospitals will
provide clinical
samples in a variety
of disease areas
The hospitals eventually will
offer their patients molecular
diagnostic tests and services
from ChondroGene (6/10)
Ciphergen
Biosystems Inc.
(CIPH)
National
Cancer Institute
Material
transfer
agreement
The NCI will evaluate
Ciphergen Diagnostics’
ProteinChip technology
and associated
bioinformatics suites
The NCI’s Clinical Proteomics
Reference Laboratory will use the
technology to study biomarker
patterns indicative of ovarian
cancer (4/28)
CODA
Genomics Inc.*
University of
California at
Irvine
License
agreement
CODA got rights to
Computer Optimized
DNA Assembly (CODA)
and protein-expression
optimization technology
The company was formed to
commercialize the technology;
terms of the deal were not disclosed (4/27)
Cryptome
Pharmaceuticals
Ltd. (Australia;
ASX:CRP)
Murdoch
License
Childrens
agreement
Research Institute
(Australia)
Cryptome got rights to
two unique proteins to
mine for novel drug
candidates
Cryptome gets all rights to products emerging from the deal,
terms of which were not disclosed (4/8)
Cryptome
Pharmaceuticals
Ltd. (Australia;
ASX:CRP)
Northeastern
University
Agreement
Cryptome got rights to
use the university’s
technology to identify
and isolate low-abundance human proteins
Cryptome gets rights to drug
candidates emerging from the
deal, terms of which were not
disclosed (4/6)
Cytheris*
(France)
New York
University, the
City University
of New York
and the Aaron
Diamond AIDs
Research Center
License
agreement
Cytheris got rights to
a family of immunomodulating agents
that activate NKT and
dendritic cells
Terms of the exclusive, worldwide deal were not disclosed
(5/23)
CytoGenix
Inc. (OTC BB:CYGX)
University
of Pennsylvania
Agreement
The university will
perform animal studies
for the company
The tests will use the company’s
synDNA technology to test a
DNA vaccine against smallpox
(6/21)
322
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2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
CytoGenix
Inc. (OTC BB:CYGX)
Type Of
Agreement
Product Area
Details (Date)
National Institutes Evaluation
of Health
license
CytoGenix will conduct
experiments using an
HIV DNA vaccine
The synthetic vaccine is derived
from HIV gene sequences contained in an NIH plasmid; terms
were not disclosed (5/25)
Dharmacon
Inc.*
Cancer Research
UK
Agreement
Dharmacon will
provide siRNA libraries
to Cancer Research UK
The libraries initially include
protein kinase genes and associated pathways; terms were not
disclosed (4/18)
Diversa
Corp. (DVSA)
Clemson
University
Collaboration
To assess opportunities
for Diversa enzymes in
enhancing human
nutrition
The intitial focus is on evaluating
the ability of protein supplements to improve stamina and
alertness and reduce fatigue
(6/2)
DNAPrint
genomics Inc.
(OTC BB:DNAP)
Beth Israel
Deaconess
Medical Center
License
agreement
DNAPrint got rights to
develop a new form of
the anemia drug
erythropoietin
Terms of the worldwide, royaltybearing license were not disclosed (4/5)
Duska
Therapeutics
Inc. (OTC BB:DSKT)
Undisclosed
European
scientists
License
agreement
Duska got exclusive
rights to P2 receptorbased technology
The technology is expected to
have applicability in treating
glaucoma; terms of the deal were
not disclosed (6/15)
Duska
Therapeutics
Inc. (OTC BB:DSKT)
University of
Pennsylvania
Agreement
Preclinical studies with
ATPotent will be carried
out at the university
ATPotent, a liquid formulation of
adenosine 5’-triphosphate, is
being developed by Duska for
treating male infertility (6/13)
Elixir
Pharmaceuticals
Inc.*
University of
California
License
agreement
Elixir got exclusive
rights to technology
covering SirT1 and
the HIV TAT protein
SirT1 is a member of the sirtuin
class of enzymes; Elixir already
had rights from UC to SirT2 and
SirT3; they may have applicability
in metabolic diseases, HIV and
cancer (5/19)
Enzo Biochem
Inc. (NYSE:ENZ)
Ludwig
Maximilians
University
(Germany)
Acquisition
Enzo acquired rights to
a candidate drug and
technology for use in
the treatment of uveitis
The drug, which has orphan
status in Europe, has been in a
small Phase I trial in Germany;
terms of the deal were not disclosed (6/9)
Galapagos
Genomics BV*
(Belgium)
Cystic Fibrosis
Foundation
Therapeutics Inc.
Collaboration
Galapagos will apply its
technologies to discover
and validate novel drug
targets for CF
Galapagos will get €1.3M from
CFFT and has an option to further develop targets identified in
the program (4/14)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
323
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Genedata AG*
(Switzerland)
NIH Chemical
Genomics Center
Collaboration
Deal to integrate
Genedata Screener software with the NCGC’s
IT infrastructure
The center will use the software
system in its high-throughput
screening efforts; terms of the
deal were not disclosed (5/12)
GeneGo Inc.*
Translational
License
Genomics
agreement
Research Institute
TGen licensed
GeneGo’s MetaCore
platform
The platform is used for mining
high-throughput experimental
data; terms of the deal were not
disclosed (5/16)
GeneGo Inc.*
National
Cancer Institute
License
agreement
The NCI licensed
GeneGo’s MetaCore 2.5
platform
The platform is used to mine
high-throughput experimental
data; terms were not disclosed
(5/31)
Generex
Biotechnology
Corp. (GNBT)
The Scripps
Agreement
Research Institute
Scripps researchers will
test the potency of a
modified DNA vaccine
for treating various
forms of cancer
The deal was made between
Scripps and Generex subsidiary
Antigen Express; terms were not
disclosed (5/1 1)
GenoLogics
Life Sciences
Software Inc.*
The Institute
for Systems
Biology
Collaboration
To increase the utility
of ISB’s open-source
software tools in the
life sciences community
GenoLogics will work to enhance
the functionality and usability of
the tools and integrate them into
its ProteusLIMS platform (5/19)
GenVault Corp.*
University of
Texas
Agreement
GenVault acquired full
rights to DNA-labeling
technology developed
at the university
The patent allows GenVault to
offer and license its GenCode to
a broader market; terms of the
deal were not disclosed (5/1 1)
Genzyme Corp.
(GENZ)
Massachusetts
General Hospital
and Dana-Farber
Cancer Institute
License
agreement
Genzyme got diagnostic
rights to gene mutations recently found in
some patients with nonsmall-cell lung cancer
Genzyme intends to develop and
market a test for EGFR markers
that can be used to help identify
patients most likely to respond
to targeted therapies (5/2)
Guava
Technologies
Inc.*
AIDS Healthcare
Foundation
Partnership
They intend to increase
access in resourcelimited nations to AIDS
diagnosis and
treatment monitoring
They will make Guava’s EasyCD4
system for counting CD4 T cells
available at five sites; the program would be expanded after
establishing feasibility (4/27)
Helix
BioPharma Corp.
(Canada; TSE:HXB)
National
Research Council
of Canada
License
agreement
Helix licensed an antibody that targets
cancerous tissue in
the lung
The antibody is being combined
with Helix’s DOS47 drug candidate; Helix will make up-front
and milestone payments (5/2)
324
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Immunetrics
Inc.*
Type Of
Agreement
Product Area
Details (Date)
University of
Collaboration
Cologne (Germany)
and the Ludwig
Boltzmann
Institute (Austria)
To discover biomarkers
of inflammation for
use in drug discovery
and disease diagnosis
and management
The academic partners get access
to Immunetrics’ modeling platform; the universities are providing a database of human and
animal data (6/6)
Ingenuity
Systems Inc.*
National Cancer
Institute Center
for Cancer
Research
License
agreement
The NCI licensed
access to the Ingenuity
Pathways Analysis
software
The technology includes millions
of individually modeled relationships between proteins, genes,
complexes, cells, tissues, drugs
and diseases (4/12)
InNexus
Biotechnology
Inc. (Canada;
CDNX:IXS)
Mayo Clinic
Collaboration
Deal focused on
creation of new
antibody-based
therapies
They intend to develop products
for cancer, cardiovascular disease and other conditions under
the multiyear agreement (5/17)
Insilico
GmbH* (Austria)
German Resource Collaborattion
Center for
Genome Research
To integrate various
information for the
use of research
scientists
The effort links the company’s
MASI database with the center’s
material index (6/1)
IntegraGen
SA* (France)
Fondation
Autisme (France)
Agreement
IntegraGen will use
DNA samples collected
by the foundation to
validate its genetic
test for autism
IntegraGen is supporting the
foundation with a donation and
by helping to create a databank
and repository of DNA samples
(5/23)
Intercell AG
(Austria; VSE:ICLL)
and Statens Serum
Institut (Denmark)
Aeras Global
TB Vaccine
Foundation
Agreement
Aeras will fund
development of a
prophylactic
tuberculosis vaccine
In return, Aeras will get a sublicense to the vaccine for a number of developing countries; SSI
and Intercell retain rights elsewhere (6/27)
Kalypsys Inc.*
The Scripps
Research
Institute
Agreement
Scripps will access
Kalypsys’ ultra-highthroughput screening
technologies
The technology will be used in
Scripps’ newly created site in
Florida; terms were not disclosed
(6/15)
Kane Biotech
Inc. (Canada;
TSE:KNE)
University of
Medicine and
Dentistry of
New Jersey
License
agreement
Kane got rights to
all human and industrial applications of the
dispersin B enzyme
Dispersin B is an enzyme responsible for the dispersal of bacterial
biofilms; terms of the deal were
not disclosed (4/26)
Macrogenics
Inc.*
Washington
University School
of Medicine
License
agreement
Macrogenics got rights
to a monoclonal
antibody against the
West Nile virus
Macrogenics participated in
promising preclinical studies;
terms of the license were not
disclosed (4/22)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
325
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Nastech
Pharmaceutical
Co. Inc. (NSTK)
Mayo Clinic
Collaboration
Mayo will evaluate
Nastech’s RNAi-based
formulations in immune
cells from patients with
rheumatoid arthritis
The collaboration will involve the
measurement of a series of
inflammatory cytokines for the
purpose of selecting a candidate
for preclinical development (4/5)
Neoprobe
Corp. (OTC BB:
NEOP)
University of
California at
San Diego
Option
agreement
Neoprobe got an option
to expand the field of
use for Lymphoseek
The license was expanded to
allow for use of the compound as
an optical or ultrasound agent;
terms were not disclosed (4/20)
NephroGenex
Inc.*
Karolinska
Institute
(Sweden)
License
agreement
NephroGenex acquired
rights in the renal
disease field to
Goodpasture antigenbinding protein kinase
technology
GPBP kinase is active against
extracellular matrix molecules;
terms of the deal were not
disclosed (5/5)
NephroGenex
Inc.*
Biomedical
Research
Foundation
(Spain)
License
agreement
NephroGenex acquired
rights to glomerular
transcriptome profiling
technology
The molecular profiling technology is used to identify renalspecific pathogenic pathways
(5/5)
Neurologix
Inc. (OTC BB:NRGX)
Keio University
(Japan)
License
agreement
Neurologix got rights
outside Japan to the
humanin gene
The gene, which may prevent
amyloid toxicity, will be used as
an approach to treating Alzheimer’s and other CNS diseases
(5/18)
Nonlinear
Dynamics Ltd.*
(UK)
Australian
Proteome
Analysis Facility
Ltd.
License
agreement
The APAF purchased
two licenses to the
company’s Progenesis
Discovery v2005
The product is a 2-D gel image
analysis platform; terms of the
licenses were not disclosed
(6/16)
OncoGenex
Technologies
Inc.*
University of
British Columbia
(Canada)
License
agreement
OncoGenex got rights
to inhibitors of heatshock protein 27
The lead product, OGX-427, is
expected to enter clinical development in 2006; terms were not
disclosed (4/26)
OncoMethylome
Sciences SA*
(Belgium)
Max Planck
Society
(Germany)
License
agreement
OncoMethylome got
rights to technology
for silencing tumorsuppressor genes by
DNA methylation
The technology will be used for
early prostate cancer detection,
prognosis and monitoring of
recurrence; terms were not disclosed (5/17)
Orion Genomics
LLC*
Johns Hopkins
University School
of Medicine
Collaboration
To better understand
the role of DNA’s
“Second Code” in
colon cancer
They will study DNA methylation
with the goal of developing
a diagnostic test for the cancer’s
early detection (6/7)
326
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Ortec
International
Inc. (OTC BB:ORTN)
University of
California at
Berkeley
Collaboration
To evaluate Ortec’s
collagen scaffold for
use in cardiovascular
tissue regeneration
The work is being done with the
university’s Center for Tissue
Engineering; terms were not
disclosed (5/19)
ParAllele
BioScience Inc.*
Baylor
University
Collaboration
To measure the genetic
basis of patient
response to the flu
vaccine
They will use ParAllele’s SNP
genotyping panel in the effort;
terms were not disclosed (4/27)
ParAllele
BioScience Inc.*
University of
Southern
California
Collaboration
To discover genes
associated with lupus
They will use ParAllele’s SNP
genotyping panel in the effort;
terms were not disclosed (4/27)
Peregrine
Pharmaceuticals
Inc. (PPHM)
National Institute Collaboration
of Allergy and
Infectious Diseases
The NIAID will screen
Anti-Phospholipid
Therapy agents,
including Tarvacin
Peregrine’s compounds will be
screened for activity against
various enveloped viral pathogens of health and bioterrorism
concern (4/4)
Perlegen
Sciences Inc.*
Women’s Health
Initiative
Deal to conduct a
high-density wholegenome scan of single
nucleotide polymorphisms
The SNPs will be in relation to
coronary heart disease, stroke
and breast cancer, and combined
postmenopausal hormone therapy; work is being funded by the
National Heart, Lung and Blood
Institute (6/30)
Pharmacopeia
Drug Discovery
Inc. (PCOP)
Columbia
Amended
University and
license
Cold Spring
agreement
Harbor Laboratory
The deal covers the
company’s ECLiPS
tagging technology
Pharmacopeia said it also resolved a prior dispute regarding
payment of royalties under the
initial deal; terms were not disclosed (5/26)
PharmaStem
Therapeutics
Inc.*
University of
Texas M.D.
Anderson Cancer
Center
License
agreement
The cancer center
licensed PharmaStem’s
technology for the
storage and use of
umbilical cord blood
The technology is covered under
five patents; PharmaStem is
entitled to certain milestone payments (4/20)
PPD Inc.
(PPDI)
Duke
University
License
agreement
Duke got rights to
develop a portfolio of
geranylgeranyl transferase inhibitors
Duke will fund R&D, and would
share equally with PPD any future payments by third parties
(6/22)
ProChon
Biotech Ltd.*
(Israel)
Musculoskeletal
Transplant
Foundation
Collaboration
To develop products
combining ProChon’s
growth factor and cell
technology with MTF’s
allograft and tissue
materials
The two deals include an equity
investment agreement; MTF will
provide R&D funding and be
responsible for development and
commercialization (4/10)
Collaboration
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
327
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Proteome
Systems Ltd.
(Australia; ASX:PXL)
Foundation for
Innovative New
Diagnostics
(Switzerland)
Collaboration
Letter of intent to
fast-track development
of an antigen-based
diagnostic for detecting
active tuberculosis
Proteome Systems’ test would
detect TB antigens and monitor
disease progression and treatment response; details were not
disclosed (6/21)
pSivida Ltd.
(Australia; PSDV)
University of
South Australia
Collaboration
Deal to evaluate
pSivida’s BioSilicon
platform for drug
delivery
The university’s Ian Wark Research Institute will evaluate the
controlled-release technology
under a six-month deal (6/20)
Reata
Pharmaceuticals
Inc.*
University of
License
Texas Southagreement
western Medical
Center and
Victoria University
(New Zealand)
Reata got exclusive
worldwide rights to a
new class of anticancer
compounds
The lead compound, peloruside
A, was discovered in a marine
sponge in New Zealand’s Pelorus
Sound; terms of the deal were
not disclosed (5/10)
Sareum Holdings
plc (UK; AIM:SAR)
Cancer Research
Technology Ltd.
(UK)
Collaboration
extension
Sareum will provide
computational chemistry services for a
further six months
The initial fee-for-service deal
related to cancer discovery programs at CRT was signed in
December 2004; terms were not
disclosed (4/1 1)
Senesco
Technologies
Inc. (AMEX:SNT)
University of
Pittsburgh
Funded
research
The company will fund
work on inflammatory
bowel disease models
The study will assess inhibition
of the company’s Factor 5A gene
technology on IBD (5/12)
Senesco
Technologies
Inc. (AMEX:SNT)
University of
Virginia
Funded
research
The company will fund
an in vitro bladder
cancer study
The study will assess up-regulation of the company’s Factor 5A
gene on bladder cells (5/12)
Senetek plc
(OTC BB:SNTKY)
Unnamed
research
foundation
License
extension
Senetek got rights to
diagnostic monoclonal
antibodies used for
research in various
disease states
The deal was extended through
201 1; Senetek would pay royalties on any resulting sales (4/7)
Sirna
Therapeutics
Inc. (RNAI)
Massachusetts
General Hospital
Sponsored
research
For research into using
siRNAs and related
formulations as modulators of the retinoblastoma gene pathway
The goal is to promote regrowth
and differentiation of hair cells
that under natural conditions do
not grow or divide in adult mammals (6/13)
Sirtris
Pharmaceuticals
Inc.*
Washington
University School
of Medicine
License
agreement
Sirtris got exclusive
rights to technology
related to Class III
histone deacetylases
The technology, also known as
sirtuins, may have applicability
in neuroprotection; terms were
not disclosed (5/19)
328
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Stratagene
Corp. (STGN)
Sidney Kimmel
Cancer Center
License
agreement
Stratagene got rights
to technology on a
novel methodology for
discovering cancerrelated genes
Stratagene also got exclusive
rights to certain gene groups
that may have predictive capabilities in cancer; terms of the deal
were not disclosed (4/15)
Telik Inc.
(TELK)
Mount Sinai
School of
Medicine
Collaboration
Deal to discover and
evaluate small
molecules for new
cancer targets
They will use Telik’s TRAP discovery technology in the effort;
terms of the deal were not disclosed (4/22)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
Akron Children’s
Hospital
Supply
agreement
Tm will provide
Tag-It reagents to
the hospital
The hospital will use the reagents
in its cystic fibrosis gene assay;
terms were not disclosed (5/18)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
McMaster
University
(Canada)
Collaboration
To develop an upper
respiratory viral panel
They will use Tag-It technology
from Tm, which would commercialize resulting products (5/9)
TopoTarget A/S*
(Denmark) and
CuraGen Corp.
(CRGN)
National Cancer
Institute
Cooperative
Research and
License
Agreement
Deal to conduct
preclinical studies on
PXD101 to better
understand its antitumor activity
An additional goal will be to
select the best next generation
of histone deacetylase inhibitors
for development (5/12)
U.S. BioDefense
Inc. (OTC BB:UBDE)
University of
Texas M.D.
Anderson
Cancer Center
License
agreement
U.S. BioDefense got an
option to review and
license technology from
the cancer center
The technology covers the use of
non-marrow stem cells for cardiac regeneration; terms of the
deal were not disclosed (5/10)
Valentis
Inc. (VLTS)
Vanderbilt
University
License
agreement
Valentis gained rights
to the Del-1 antibody
and associated
intellectual property
Valentis had licensed rights to the
Del-1 protein and gene in 1998;
Del-1 is an angiogenic protein;
terms were not disclosed (5/19)
Viragen Inc.
(AMEX:VRA)
University of
Miami
Option
termination
Viragen chose not to
license VG104, the
IEP 1 1 peptide with
applicability in cancer
The option expired and all development activities relating to
VG104 have been discontinued
(5/18)
Viragen Inc.
(AMEX:VRA)
Cancer Research
Technology Ltd.
(UK)
License
agreement
Viragen got exclusive
rights to commercialize
an anti-CD55 antibody
The antibody (VG102) is in preclinical development for treating
a range of cancers; terms of the
deal were not disclosed (5/9)
Xenomics Inc.
(OTC BB:XNOM)
Eastern Virginia
Medical School
Research
agreement
Deal to study Xenomics’ technology for
detecting Down synsyndrome in unborn
children
The technology entails analysis
of maternal urine samples;
terms were not disclosed (5/12)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
329
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Xenomics Inc.
(OTC BB:XNOM)
North ShoreLong Island
Jewish Health
System
Research
agreement
Deal to study the use
of DNA technology to
detect a number of
fetal genetic problems
They intend to conduct clinical
trials of the company’s Transrenal DNA product; terms were
not disclosed (5/12)
Xsira
Pharmaceuticals
Inc.*
Harbor-UCLA
Medical Center
License
agreement
Xsira got rights to
develop adenosine as
an analgesic for postoperative pain
Initial studies of adenosine in the
surgical setting already have
been conducted; terms of the
worldwide license were not disclosed (4/14)
Acambis plc
(UK; ACAM)
Flanders
Interuniversity
Institute for
Biotechnology
(Belgium)
Collaboration
To develop a vaccine
against both the A and
B strains of influenza
The goal is to generate a candidate that would protect against
both strains and would not
require annual formulation
changes (8/4)
Advanced Cell
Technology Inc.
(OTC BB:ACTC)
The Burnham
Institute
Collaboration
For research that aims
to isolate stem cellspecific differentiation
markers
They will use particle display
technology to identify markers
for many of the lineages of cells
that make up the human body
(7/27)
Amplimed
Corp.*
University
of Arizona
License
agreement
Amplimed got rights
to a porfolio of
compounds, including
the cancer agent FB642
A university-related company
gets equity in Amplimed, along
with potential milestone and
royalty payments (8/9)
Affymetrix
Inc. (AFFX)
Broad Institute
of MIT and
Harvard
Agreement
The institute will use
the GeneChip Mapping
500K Set for genomewide association studies
The institute gained use under
Affymetrix’s early access program; the institute and collaborators intend to generate genotypes relevant to multiple diseases (7/21)
Albany
Molecular
Research Inc.
(AMRI)
National Institute
of Neurological
Disorders and
Stroke
Collaboration
Two-year deal aimed
at developing
treatments for spinal
muscular atrophy
AMRI will provide medicinal
chemistry services on a fee-forservices basis (7/1 1)
Alnylam
Pharmaceuticals
Inc. (ALNY)
and Isis
Pharmaceuticals
Inc. (ISIS)
Stanford
University
License
agreement
The companies got
co-exclusive rights to
technologies in the area
of hepatitis C virus
The technology relates to the
inhibition of the liver-specific
microRNA miR-122; terms were
not disclosed (9/13)
THIRD QUARTER
330
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Altachem
Pharma Ltd.
(Canada; CDNX:AAF)
Research Centre
for Bioactive
Materials (Korea)
Agreement
They will work together
to plan the most
appropriate projects
for Altachem
The goal is to establish projects
designed to underpin Altachem’s
discovery programs in cancer
(9/8)
Amaxa GmbH*
(Germany)
American Type
Agreement
Culture Collection
ATCC will supply cell
lines to Amaxa
The cell lines will be used to
develop and optimize protocols
using Amaxa’s Nucleofector
technology (9/27)
Ambion Inc.*
MitoChek
consortium
Agreement
Ambion will provide
the consortium a
genome-wide siRNA
library targeting
every human gene
The European Union-funded consortium will use the library to
research how cell division is
regulated; terms of the deal were
not disclosed (8/12)
Applied
Biosystems
Group (NYSE:ABI)
National Institute
of Genomic
Medicine of
Mexico
Collaboration
To establish an Applied
Biosystems sequencing
and genotyping unit
at the institute
They also will conduct research
studies focused on health issues
important to the Mexican population (7/25)
Artemis
Pharmaceuticals
GmbH* (Germany)
Max Delbruk
Collaboration
Center for
Molecular
Medicine and
the University
of Wurzbur
(both in Germany)
Three-year deal to
develop and validate
methods for the
functional analysis of
disease-related genes
in transgenic rats
The work will be jointly funded
by Artemis and the RiNA RNANetwork; Artemis gets rights to
resulting products through a
license agreement with RiNA
GmbH, an entity of the German
government (7/19)
Ascentia
Biomedical Corp.
(OTC BB:ASCE)
University
of Washington
Option
agreement
Ascentia got rights to
a family of compounds
potentially applicable
to a number of diseases
Terms of the option were not disclosed; the compounds are being
developed for cancer, sepsis,
autoimmune diseases and for
use in vaccines (8/15)
Biolog Inc.* and
Axiohelix* (Japan)
NARA Institute
(Japan)
Collaboration
They extended deal to
phenotype and determine the function of
each gene in the E. coli
genome
Work on the project began in
November 2004; terms of the
deal were not disclosed (7/26)
BioSante
Pharmaceuticals
Inc. (AMEX:BPA)
Wake Forest
University and
Cedars Sinai
Medical Center
License
agreement
BioSante exercised its
option to license triplehormone contraception
technology
The technology covers combinations of estrogens and progestins
with androgens; BioSante will
make up-front and maintenanace
payments, along with potential
milestones and royalties (8/10)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
331
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Biosite Inc.
(BSTE)
Johannes
Gutenberg
University
(Germany)
License
agreement
Biosite got exclusive
rights to caspase-1, a
potential biomarker for
cardiovascular disease
Biosite is collaborating with the
University of Mainz to investigate clinical applications; terms
of the deal were not disclosed
(8/22)
Biosite Inc.
(BSTE)
Cincinnati
Children’s
Hospital Medical
Center and
Columbia
University
License
agreement
Biosite got rights to
neutrophil gelatinaseassociated lipocalin, a
potential biomarker
for identifying acute
renal failure
Biosite will make antibodies to
NGAL; the NGAL immunoassay
then will be tested on blood samples to assess its potential; terms
of the exclusive license agreement were not disclosed (7/13)
BioVeris Corp.
(BIOV)
The Rockefeller
University
License
agreement
BioVeris got exclusive
rights to technologies
related to a Group A
Streptococcal disease
vaccine candidate
BioVeris paid a $150,000 license
fee and may make additional
payments for license maintenance and patent costs, as well as
making milestone and royalty
payments (9/6)
Cambria
Biosciences LLC*
Northwestern
University
Collaboration
To screen existing
compounds for activity
against amyotrophic
lateral sclerosis
The work is being funded by a
grant from the ALS Association
(8/8)
Catalyst
Biosciences
Inc.*
Torrey Pines
Institute for
Molecular Studies
License
agreement
Catalyst got rights to
use technology for
protease engineering,
selection and optimization
The license covers a protease
selection technology and solidifies and expands Catalyst’s
position in proteases (7/25)
CellCentric
Ltd.* (UK)
Cancer Research
Technology Ltd.
(UK)
Collaboration
To develop monoclonal
antibodies against
CellCentric’s epigeneticrelated cancer target
They will share the costs and
rewards of the effort, which may
be followed by co-development
of other targets identified by
CellCentric (9/26)
ChemDiv Inc.*
Scripps Florida
Collaboration
They extended deal
giving Scripps access
to ChemDiv screening
libraries
Terms of the deal were not disclosed (7/21)
Chlorogen Inc.*
Rutgers
University
License
agreement
Chlorogen got exclusive The deal also gives Chlorogen
rights to chloroplast
limited rights to certain future
transformation patents
discoveries by Rutgers from
research in the field (8/16)
332
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
ChondroGene
Ltd. (Canada;
TSE:CDG)
University of
California at
San Francisco
Alliance
Deal setting framework
for collaborations
applying the Sentinel
Principle to new drugs
and diagnostics
The Sentinel Principle is the company’s approach to detect and
stage diseases or conditions
from a blood sample; ChondroGene would have rights or
options to resulting products
(8/10)
Ciphergen
Biosystems
Inc. (CIPH)
University
of Kentucky
Collaboration
Ciphergen got exclusive rights to license
discoveries; the focus
is on ovarian cancer
Ciphergen will provide its suite
of proteomic solutions for biomarker discovery and development of assays to the effort;
terms were not disclosed (8/24)
CombiMatrix
Group (CBMX)
Biodesign
Institute at
Arizona State
University
Collaboration
To develop a peptide
array synthesizer using
CombiMatrix’s virtualflask technology
The institute is purchasing CombiMatrix equipment and funding
development; any revenues
would be shared (8/12)
Corautus
Genetics Inc.
(VEGF)
Caritas St.
Elizabeth’s
Medical Center
Agreement
Corautus will provide
its VEGF-2 product for
evaluation in a Phase I
trial in diabetic
neuropathy
Corautus would get rights in that
indication; also, Corautus licensed certain technology, including
the use of angiogenic growth
factors in peripheral neuropathy;
the center is entitled to up-front,
milestone and royalty payments
(8/10)
Crucell NV
(the Netherlands;
CRXL)
Naval Medical
Research Center
of the U.S. Navy
Cooperative
Research and
Development
Agreement
To construct AdVacbased vaccines against
anthrax and plague and
test them in nonhuman
primates
Crucell got an option for exclusive rights to any vaccine that
may result from the deal (8/17)
Cryptome
Pharmaceuticals
Ltd. (Australia;
ASX:CRP)
University of
Virginia
Collaboration
expansion
To further discover
compounds that
treat vascular leak
Cryptome gets the first option to
license CR104 and other technology developed at the university
(9/19)
Cyberkinetics
Neurotechnology
Systems Inc.
(OTC BB:CYKN)
Brown University
Collaboration
Brown researchers
get access to clinical
research data provided
by Cyberkinetics
The company gets options to
license inventions derived from
the research, which is in the area
of neurology (9/8)
CytoGenix
Inc. (OTC BB:CYGX)
Imperial College
London
Collaboration
For research studies
using the company’s
antimicrobial nucleic
acid compound
College researchers will further
elucidate the antimicrobial activity of CytoGenix’s RBL-1 compound (8/9)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
333
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Digene Corp.
(DIGE)
Georgetown
University
Settlement
and license
agreement
They settled litigation
relating to patents
covering human
papillomavirus
Georgetown will get payments
totaling $7.5M, and royalties on
sales of 5% to 6% (7/14)
DOR
BioPharma Inc.
(AMEX:DOR) and
Cambrex Corp.
SRI
International
Collaboration
SRI is assisting in the
development of
the recombinant
ricin vaccine RiVax
SRI will optimize the immune
response to the vaccine and perform preclinical safety testing;
terms were not disclosed (7/5)
EntreMed Inc.
(ENMD)
National Cancer
Institute
Cooperative
Research and
Development
Agreement
To evaluate the role
of HIF-1-alpha inhibition
in the treatment of
cancer
The three-year deal centers on
EntreMed’s 2ME2 and analogues;
terms of the deal were not disclosed (9/15)
Galapagos NV
(Belgium; Euronext:
GLPG)
High Q
Foundation Inc.
Collaboration
Two-year deal to
discover targets and
develop drugs for
Huntington’s disease
Galapagos may receive up to
$3M in the deal and has the
option to further develop certain
targets identified (8/12)
Galapagos NV
(Belgium; Euronext:
GLPG)
Leiden
University (the
Netherlands)
Collaboration
To pursue a smallmolecule drug discovery program in arthritis
The four-way collaboration also
includes ZoBio BV and Pyxis
Discovery BV (8/10)
GenoMed Inc.
(PK:GMED)
International
Disease
Management
Alliance
Agreement
GenoMed joined the
alliance, which was
formed to promote
disease management
Details on GenoMed’s role in the
alliance were not disclosed
(7/13)
Genospectra
Inc.*
CRNS (France)
Agreement
To develop a panel
of optimized delivery
reagents
Genospectra also gets an exclusive license to “MPG” technology
developed at the CNRS, and to
products resulting from the collaboration (7/19)
Gilead Sciences
Inc. (GILD) and
Royalty Pharma
Emory
University
Agreement
Gilead and Royalty
purchased Emory’s
royalty interest in the
HIV drug emtricitabine
(Emtriva)
Emory got a one-time cash payment
of $525M, with 65% of it coming
from Gilead; Gilead is obligated
to pay royalties on future sales
to Royalty Pharma (7/18)
Illumina Inc.
(ILMN)
Wellcome
Trust (UK)
Collaboration
To study the impact of
those SNPs that cause
amino acid changes,
on a range of disease
samples
They will design a custom Sentrix
BeadChip for the effort; Illumina
intends to turn the custom SNP
product into a standard microarray offering (9/28)
Illumina Inc.
(ILMN)
Max Planck
Institute of
Psychiatry
(Germany)
Supply
agreement
Illumnia will supply
technologies for a
large-scale genotyping
study
The institute intends to generate
information on genetic variants
associated with depression and
anxiety (9/20)
334
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Illumina Inc.
(ILMN)
National Cancer
Institute
Purchase
agreement
The NCI is purchasing
an Illumina BeadLab, a
production-scale genetic
analysis laboratory
The lab will be used in research
into the genetics of breast and
prostate cancers, supporting the
Cancer Genetic Markers of
Susceptibility initiative (9/1)
InforSense
Ltd.* (UK)
National Cancer
Institute
Agreement
The NCI will use the
company’s technology
for high-throughput
genetic data analysis
The NCI will use the KDE InforSense integrative analytics platform under a five-year deal;
terms were not disclosed (8/30)
Invitrogen
Corp. (IVGN)
Fred Hutchinson
Cancer Research
Center
Collaboration
To develop diagnostics
and screening tools for
cancer
Invitrogen has rights to license
resulting technologies; terms
were not disclosed (9/13)
Invitrogen
Corp. (IVGN)
The Scripps
Research
Institute
Collaboration
To develop improved
Invitrogen will have the right to
methods for expression, commercialize resulting technolisolation and character- ogies (8/25)
ization of membrane
proteins
JPT Peptide
Technologies
GmbH* (Germany)
Oregon Health
& Science
University
Collaboration
Deal to discover T-cell
epitopes to accelerate
the development of
tuberculosis vaccines
JPT, a subsidiary of Jerini AG, will
apply its high-throughput peptide synthesis and screening
platform in the effort (7/7)
Knopp
NeuroSciences
Inc.*
University of
Pittsburgh
License
agreement
Knopp got rights to
commercialize a panel
of protein biomarkers
The biomarkers will be used as
a diagnostic test for amyotrophic
lateral sclerosis (9/7)
Agreement
The ISB will use the
Universal Linkage
System from Kreatech
The agreement is expected to
help Kreatech position the labeling technology in new application areas (9/21)
Kreatech
Institute of
Biotechnology
Systems Biology
BV* (the Netherlands)
Lipid Sciences
Inc. (LIPD)
Washington
Collaboration
Hospital Center
and MedStar
Research Institute
To broaden the scope
of the company’s HDL
therapy platform
The deal allows Lipid to expand
the program into the area of HDL
mimetic peptides; terms were
not disclosed (8/25)
Lorus
Therapeutics
Inc. (Canada;
AMEX:LRP)
Ohio State
University
Collaboration
Deal to study Lorus’
GTI-2040 and cytarabine
on acute myeloid
leukemia cell lines
Lorus will work with the OSU
Comprehensive Cancer Center
in the research collaboration
(9/7)
Maas BiolAB
LLC*
Walter Reed
Army Institute
of Research
Cooperative
Research and
Development
Agreement
Deal to develop cyclosporin neuroprotection
in indications relevant
to military casualties
and homeland security
They will further collaborate to
develop Maas’ cyclosporin formula NeuroSTAT in models of
traumatic brain injury and nerve
gas poisoning (7/12)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
335
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Macrogen Inc.*
(South Korea)
National Institute
of Toxicological
Research (South
Korea)
Agreement
Macrogen will provide
gene expression
analysis services to
the NITR
The services will use the Applied
Biosystems Group Expression
Array System; terms were not
disclosed (8/9)
MedImmune
Inc. (MEDI)
National Institute Collaboration
of Allergy and
Infectious Diseases
To produce and test
versions of MedImmune’s influenza
vaccine against
potential pandemic
strains
MedImmune also has offered
licenses for its reverse genetics
technology to U.S. and international authorities and manufacturers developing pandemic
influenza vaccines (9/28)
MedImmune
Inc. (MEDI)
Georgetown
University
Collaboration
To develop monoclonal
antibodies targeting
anaplastic lymphoma
kinase, a member of the
insulin receptor family
Georgetown gets an up-front
payment and potential milestones and royalties; MedImmune
gets exclusive worldwide rights
to the preclinical program (9/26)
Medivation
Inc. (OTC BB:MDVN)
University of
California at
Los Angeles
Acquisition
Medivation acquired
the MDVN 300 series
of small-molecule
compounds
The compounds target hormonerefractory prostate cancer; terms
of the deal were not disclosed
(9/19)
Meridian
Bioscience Inc.
(VIVO)
National
Institutes of
Health
License
agreement
Meridian got rights
to recombinant
parvovirus B19 vaccine
technology
The license went to Meridian
subsidiary Viral Antigens Inc.;
Meridian previously had a contract to manufacture the vaccine
(7/7)
MerLion
Cancer Research
Pharmaceuticals
Technology Ltd.
Pte. Ltd.* (Singapore) (UK)
Collaboration
Screening program to
identify anticancer
drugs derived from natural product chemistry
Resulting technology will be
jointly owned (9/20)
MerLion
Institute of
Pharmaceuticals
Molecular and
Pte. Ltd.* (Singapore) Cell Biology
(Singapore)
Collaboration
Three-year deal to
discover and develop
cancer drugs; the initial
focus is the Bcl-2 family
of proteins
IMCB will provide certain drug
targets and projects; MerLion will
provide natural product sample
collections, and apply screening
and chemistry skills; they will
share resulting ownership (7/1)
Mesoblast Ltd.
(Australia; ASX:MSB)
Colorado State
University
Agreement
CSU will perform
preclinical studies of
Mesoblast technology
CSU will test universal stem cell
technolgoy for bone regeneration under undisclosed terms
(7/21)
MicroIslet Inc.
(AMEX:MII)
The Scripps
Research
Institute
Collaboration
They extended for two
years work to develop
islet cell transplantation
therapies
The focus is on diabetes; MicroIslet is providing financial support and technical assistance
and has the option to retain all
commercial rights (8/31)
336
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Millenium
Biologix Corp.
(Canada; TSE:MBC)
Massachusetts
Institute of
Technology
License
agreement
Millenium got rights to
technology for certain
uses of growth factors
Millenium plans to develop a
specific combination of growth
factors in its Autologous Clinical
Tissue Engineering Systems for
cartilage repair (8/30)
NeoRx Corp.
(NERX)
Scripps Florida
Collaboration
To discover smallThe goal is to identify potential
molecule protein kinase cancer treatments (8/4)
inhibitors as therapeutic
agents
Neuren
Pharmaceuticals
Ltd. (Australia;
ASX:NEU)
Walter Reed
Army Institute
of Research
Expanded
agreement
The deal is for
development of
Neuren’s NNZ-2566 for
traumatic brain injury
They will explore the use of Walter
Reed’s model for predicting clinical outcomes; Walter Reed will
fund half of preclinical research;
Neuren retains all rights outside
the U.S. military (7/8)
New River
Pharmaceuticals
Inc. (NRPH)
University of
California at
San Francisco
License
agreement
New River got rights to
an approach to improve
the use of opioid
analgesics by reducing
tolerance development
UCSF’s Ernest Gallo Clinic and
Research Center is entitled to
a license fee and potential milestone and royalty payments
(7/8)
Novelos
Therapeutics
Inc. (OTC BB:NVLT)
Medical
University of
South Carolina
Collaboration
To research the
mechanisms of
Novelos’ NOV-002 and
NOV-205 products
Results will help in the design
and execution of clinical trials in
cancer and hepatitis C, respectively (9/13)
Odyssey Thera
Inc.*
National Institutes Agreement
of Health
Odyssey gave the NIH
access to human cell
lines with PCA technology for screening
biochemical pathways
Odyssey is providing access to
the NIH Chemical Genomics
Center as part of the NIH’s Molecular Libraries Roadmap Initiative
(8/17)
OriGene
Technologies
Inc.*
Massachusetts
General Hospital
Collaboration
Deal to use OriGene’s
FlagArray platform for
high-throughput functional analysis of genes
Terms of the deal were not disclosed (7/25)
Orion Genomics
LLC*
Washington
University
Collaborations
To discover biomarkers
for use in development
of tests for cancer
They will look for “Second Code”
biomarkers for tests to screen
for cancer at an early stage and
to help guide treatment (8/9)
Peregrine
Pharmaceuticals
Inc. (PPHM)
U.S. Army Medical
Research Institute
of Infectious
Diseases
Cooperative
Research and
Development
Agreement
USAMRIID will study
the potential of
Tarvacin in treating
hemorrhagic diseases
Peregrine will supply the antiphospholipid therapy; it will be
studied for hemorrhagic diseases resulting from Ebola and
Marburg viral infections (7/21)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
337
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Perlegen
Sciences Inc.*
RIKEN
(Japan)
Collaboration
They will use Affymetrix
Inc. technology to
conduct whole-genome
association studies
in Japan
The goal is to identify the genetic
causes of up to 47 common diseases; Perlegen’s subsidiary in
Japan will work with RIKEN
(7/20)
Perlegen
Sciences Inc.*
Pritzker NeuroCollaboration
psychiatric
Disorders Research
Consortium
Perlegen is conducting
a high-density wholegenome association
study of bipolar disorder
Results of the work are expected
to help diagnose and treat neuropsychiatric diseases; terms of
the deal were not disclosed (7/14)
Phogen Ltd.
(UK; joint venture
of Xenova Ltd.)
Cancer Research
Technology Ltd.
(UK)
Agreement
CRT will help
commercialize Phogen’s
VP22 technology
CRT will help identify partners
and negotiate terms for the
drug-delivery platform (8/1)
Power3 Medical
Products Inc.
(OTC BB:PWRM)
University of
Texas M.D.
Anderson Cancer
Center
License
agreement
Power3 got rights to
cancer technologies
co-developed by the
parties
The technologies involve an
early detection test, protein biomarkers and targets for drugresistant cancer (8/9)
Power3 Medical
Products Inc.
(OTC BB:PWRM)
The Methodist
Agreement
Hospital Research
Institute
To search for biomarkers and develop
diagnostic tests for
neurodegenerative
diseases
The deal marks a continuation of
work already under way between
the parties; terms were not disclosed (7/19)
Prolexys
Pharmaceuticals
Inc.*
Imperial College
London
Agreement
Prolexys joined a
consortium focused on
developing drugs for
treatment of latent
tuberculosis infection
The consortium is supported by
a $20M grant to Imperial College
from the Grand Challenges in
Global Health initiative (7/28)
RegeneRx Biopharmaceuticals
Inc. (AMEX:RGN)
Children’s
National
Medical Center
Collaboration
To study the effects of
thymosin beta 4 to
treat degenerative
muscle diseases
The center will test TB4 in nonhuman models that have a disease similar to human Duchenne’s
muscular dystrophy and go on to
develop cardiomyopathy (8/4)
Rubicon
Genomics Inc.*
Genome Institute
of Singapore
Agreement
Rubicon will isolate
and amplify genomic
DNA in archived serum
samples
The samples are from 5,000 participants in a hepatitis B vaccine
trial; GIS will use the DNA to
discover genes relevant to HBV
(7/21)
Saneron CCEL
Therapeutics
Inc.*
University of
Minnesota
License
agreement
Saneron acquired rights
to a cord blood cell line
from the university
The university is entitled to
research funding and milestone
payments; the technology will be
used to develop cellular therapies for neurological and cardiac
disorders (9/7)
338
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Sareum
Holdings plc
(UK; AIM:SAR)
The Institute of
Cancer Research
and Cancer
Research
Technology Ltd.
(both in the UK)
Collaboration
To develop cancer
drugs that target a
biochemical pathway
responsible for
resistance to standard
chemotherapeutics
Sareum will use its Template
Screening technology to identify
compounds; it would share in
any payments, milestones and
royalties arising from resulting
license deals (7/25)
Serologicals
Corp. (SERO)
Wisconsin
Alumni Research
Foundation
License
agreement
Serologicals unit
Chemicon International
Inc. got nonexclusive
rights to all WARF’s
stem cell technologies
Chemicon intends to commercialize research products derived
from human embryonic stem cell
technology; terms of the deal
were not disclosed (7/25)
SIGA
Technologies
Inc. (SIGA)
Saint Louis
University
Agreement
Deal for the continued
development of SIGA’s
smallpox candidate,
SIGA-246
SIGA will get $1M to support preclinical development; the deal is
funded through the National
Institutes of Health (9/20)
Structural
GenomiX Inc.*
Cystic Fibrosis
Foundation
Therapeutics Inc.
Collaboration
Three-year deal to
discovery therapies to
treat the cause of cystic
fibrosis
SGX will generate lead compounds that “correct” the delta
F508 form of the CFTR protein;
SGX gets $1 5M in technology
access, research and milestone
payments and is eligible for
clinical milestone payments and
royalties on sales (7/6)
Targepeutics
Inc.*
National Institutes License
of Health
agreement
Targepeutics licensed
patents relevant to its
genetically engineered
interleukin-13 platform
The 10 patents give background
rights for the platform; terms of
the deal were not disclosed
(8/17)
Tm Bioscience
Corp. (Canada;
TSE:TMC)
University
of Miami
Supply
agreement
Tm will provide
reagents to the
university
University researchers will use
the technology in cystic fibrosis
and Ashkenazi Jewish panel gene
assays (7/27)
TriPath Imaging
Inc. (TPTH)
Cancer Research
Technology Ltd.
(UK)
License
agreement
TriPath got rigths to a
number of cancer
diagnostic markers
The markers, from the Minichromosome Maintenance protein
family, have applicability in various solid tumors (8/22)
Unigene
Laboratories
Inc. (OTC BB:UGNE)
Yale
University
Agreements
Unigene acquired exclusive rights to jointly
owned inventions
The technology involves procedures for treating and preventing
fractures more effectively; Unigene is sponsoring research at
Yale (9/19)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
339
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
U.S. BioDefense
Inc. (OTC BB:UBDE)
University of
British Columbia
(Canada)
License
agreement
Option deal covering
UBC’s neural crest stem
cell line and its use in
human transplantation
U.S. BioDefense got a six-month
option to license worldwide rights
to the patent; terms were not disclosed (7/6)
Vical Inc.
(VICL)
National Institute Cooperative
of Allergy and
Research and
Infectious Diseases Development
Agreement
To develop electroporation-enhanced delivery
of DNA vaccines against
HIV
Vical has an option to get exclusive rights to technology developed under the CRADA (9/12)
Vion
Pharmaceuticals
Inc. (VION)
University
of Innsbruck
(Austria)
License
agreement
Vion licensed a group
of heterocyclic
hydrazone compounds
for cancer applications
Vion will make an initial payment
of $37,500 and could make milestone and royalty payments
(9/26)
Xenomics Inc.
(OTC BB:XNOM)
Lazzaro
Spallanzani
Institute (Italy)
Agreement
They created a joint
venture, SpaXen, to
research Xenomics’
diagnostic technology
for detecting infectious
disease
Licensing terms and royalties
were covered in the deal, terms
of which were not disclosed; the
deal centers on Xenomics’
Transrenal-DNA diagnostic technology (7/12)
YM BioSciences
Inc. (Canada;
TSE:YM)
University of
Saskatchewan
(Canada)
License
agreement
YM got exclusive
rights to a portfolio
of small-molecule
oncology compounds
The compounds are believed to
be highly potent chemopotentiators; terms were not disclosed
(8/10)
York Pharma
plc (UK; AIM:YRK)
Freie
Universitat
Berlin (Germany)
Acquisition
York acquired patents
relating to sphingosine1-phosphate
The preclinical technology may
have applications in hyperproliferative skin disorders such as
acne; the university gets an upfront payment and potential royalties (7/19)
FOURTH QUARTER
Acceptys Inc.*
University
of Wurzburg
(Germany)
Research
agreement
University researchers
will further characterize
about 650 anticancer
human antibodies
The deal followed one in which
Accelerys acquired rights to
develop antibodies from OncoMab GmbH, which was formed
from university research (12/23)
Accentia Biopharmaceuticals
Inc. (ABPI)
Mayo Foundation
for Medical
Education and
Research
Option
agreement
The option covers a
method of using antifungals applied intranasally for treating
chronic sinusitis
Accentia has exclusive rights to
negotiate a license until Dec. 6,
2006; the method covers all antifungals except amphotericin B
(12/15)
340
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
ACE BioSciences
A/S* (Denmark)
Aeras Global
TB Vaccine
Foundation
Collaboration
ACE will support
characterization of a
BCG-based tuberculosis
vaccine
ACE will identify and characterize proteins in the second-generation vaccine Aeras is developing;
terms were not disclosed (12/19)
Affibody AB*
(Sweden)
National Cancer
Institute
Cooperative
Research and
Development
Agreement
Deal to develop in
vivo imaging agents
for detecting cancer
The company will design and
develop engineered Affibody
molecules specific for HER2;
terms were not disclosed (1 1/8)
Affymetrix Inc.
(AFFX)
Imperial College
London and the
Medical Research
Council (UK)
Collaboration
To discover genetic
variations associated
with cancer, diabetes
and cardiovascular
disease
College and MRC researchers
will use Affymetrix GeneChip
technology in the deal, which is
part of Affymetrix’s translational
medicine program (12/14)
Affymetrix
Inc. (AFFX)
CureSearch
Children's
Oncology Group
Collaboration
To discover and validate gene expression
signatures for a number
of childhood cancers
They will use Affymetrix’s GeneChip microarray technology and
COG’s databank of tumor samples in the effort (10/25)
Affymetrix
Inc. (AFFX) and
CapitalBio Corp.
(China)
Chinese Rice
Agreement
Functional
Genomic Research
Consortium
CapitalBio will provide
Affymetrix GeneChip
Rice Genome Array
services to the
consortium
CapitalBio is an Affymetrix
service provider in China; terms
of the deal were not disclosed
(10/10)
Affymetrix
Inc. (AFFX)
Jeffrey Modell
Collaboration
Foundation and
the National
Human Genome
Research Institute
To develop newborn
screening tests
The tests will be for severe combined immunodeficiency and
other primary immunodeficiency
disorders; the foundation will
fund the work (10/5)
Aphios Corp.*
Boston
University
Medical School
License
agreement
Aphios got rights to a
nontoxic vitamin D
analogue
The compound is being developed for prostate cancer; terms of
the deal were not disclosed
(12/13)
Ariana
Pharmaceuticals*
(France)
Institut Pasteur
(France)
Agreements
Series of deals involving
Ariana’s new virtual
screening platform
The institute gets an equity stake
in Ariana, becomes a customer
for Ariana’s technology and provides use of its BioTop incubator;
specific terms were not disclosed
(1 1/2)
Artemis
Pharmaceuticals
GmbH (Germany;
subsidiary of
Exelixis Inc.; EXEL)
Medical Research
Council Protein
Phosphorylation
Unit (UK)
License
agreement
Artemis got rights to
use and distribute
certain genetically
engineered mouse
models
Artemis will distribute the kinase
models to companies and institutions, and can use them in its
programs; terms were not disclosed (12/5)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
341
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Avexa Ltd.
(Australia; ASX:AVX)
Product Area
Details (Date)
Commonwealth
Collaboration
Scientific and
Industrial Research
Organisation
(Australia)
Deal to discover drugs
for treating viral
diseases
Avexa will screen CSIRO libraries
and would develop any resulting
compounds (1 1/9)
Avidex Ltd.*
(UK)
King’s College
London
License
agreement
Avidex got exclusive
rights to develop products recognizing an
antigen associated with
Type I diabetes
Avidex intends to develop
soluble monoclonal T-cell receptors targeting KCL’s antigen on
the islet cells in the pancreas
(10/10)
BioVeris Corp.
(BIOV)
University of
Massachusetts
at Amherst
License
agreement
BioVeris exercised its
option to exclusively
license a vaccine
candidate for Chlamydia
UMA gets a $75,000 license fee
and potential milestone payments, as well as royalties on any
resulting sales (12/6)
BioVeris Corp.
(BIOV)
Jewish General
Hospital (Canada)
License
agreement
BioVeris got exclusive
rights to use a JGH
database containing
infectious disease
information
The database has demographic
data and the serologic status on
an immigrant population; BioVeris paid a $50,000 license fee and
will sponsor $400,000 of research
at JGH over three years (1 1/21)
CellCentric
Ltd.* (UK)
University
College London
Collaboration
Deal to explore
epigenetic-related
cancer cell targets
CellCentric will work with the
university’s Wolfson Institute of
Biomedical Research in the sponsored research program (1 1/1)
Cel-Sci Corp.
(AMEX:CVM)
National Institute Cooperative
of Allergy and
agreement
Infectious Diseases
Deal to test Cel-Sci’s
anti-infective drug
CEL-1000 in animal
models against the
H5N1 avian flu virus
The agent is believed to activate
immune responses; terms of the
deal were not disclosed (12/5)
Ceragenix
Pharmaceuticals
Inc. (OTC BB:CGXP)
Centers for
Disease Control
and Prevention
Cooperative
Research and
Development
Agreement
Letter of intent calls for
evaluation of company’s
cationic steroid
antimicrobial coating
Focus is prevention of bacterial
biofilm growth on medical devices;
Brigham Young University also
is a party to the CRADA (10/25)
Chemokine
Therapeutics
Corp. (Canada;
TSE:CTI)
Wayne State
University
Agreement
University researchers
will conduct preclinical
experiments on a
Chemokine cancer drug
The studies will evaluate the ability of CTCE-9908 to inhibit the
CXCR4 receptor found on prostate cancer cells (1 1/16)
Ciphergen
Biosystems Inc.
(CIPHE)
University of
Texas Medical
Branch at
Galveston
Collaboration
Deal to apply Ciphergen technologies to
UTMB clinical samples
for liver disease research
They intend to develop a diagnostic blood test for measuring
the progress of liver disease;
Cipheregen gets first right to
license resulting products (1 1/21)
342
Type Of
Agreement
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions(Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Ciphergen
Biosystems Inc.
(CIPH)
University
College London
Research
and license
agreement
To further validate and
characterize ovarian
cancer biomarkers and
discover new ones
Ciphergen will have exclusive
rights to license discoveries made
during the collaboration (10/6)
CombiMatrix
Group (CBMX)
University of
California at
Los Angeles
Collaboration
Deal to develop a genebased test for the
diagnosis of malignant
melanoma
UCLA researchers also will provide patient samples for the
development and validation
phase of the project (12/7)
Covalys
Biosciences AG*
(Switzerland)
Ecole Polytechnique Fédérale
de Lausanne
(Switzerland)
Agreement
Covalys will exclusively
commercialize the
school’s ACP-tag
technology
Terms on the deal involving protein tag technology were not disclosed (1 1/7)
Crucell NV
(the Netherlands;
CRXL)
Walter Reed
Army Institute
of Research
Cooperative
Research and
Development
Agreement
Deal to evaluate
Crucell’s PER.C6 technology for development
of vaccines against
certain flaviviruses
WRAIR will evaluate the technology in vaccines against dengue
fever and Japanese encephalitis;
terms were not disclosed (12/22)
Crucell NV
(the Netherlands;
CRXL)
Saskatchewan
Research Council
(Canada)
Manufacturing
agreement
SRC got rights to sell
PER.C6 cell line services
in Canada; SRC also got
a license to the
technology
The services are for manufacturing gene therapy and vaccine
products; Crucell gets a license
fee, annual maintenance fees and
royalties on sales (12/22)
Cygenics Ltd.
(Australia; ASX:CYN)
Johns Hopkins
University
Collaboration
Deal to combine
technologies in a
preclinical program for
acute myeloid leukemia
The effort will use Cygenics’
stem cell expansion platform
with Hopkins’ stem cell purging
technology (1 1/15)
CytRx Corp.
(CYTR)
University of
Massachusetts
Medical School
Expanded
agreement
The new deal covers
drug targets that
regulate insulin activity
in fat cells
CytRx licensed the targets, which
were discovered in an existing
collaboration between it and
UMMS (12/15)
Dendritic
Nanotechnologies
Inc.*
Nanotechnology
Characterization
Laboratory
Collaboration
The NCL will characterize DNT’s dendrimers as
macromolecular dendrimer-based MRI contrast
agents
The agents will be used for
cardiovascular diagnostics; the
NCL was established by the National Cancer Institute (10/10)
Dharmacon Inc.
(unit of Fisher
Biosciences)
Various
institutions
Global
initiative
To advance research
using a genome-wide
siRNA library
Dharmacon and 10 research
institutions formed the GenomeWide RNAi Global Initiative
(10/6)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
343
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
DiscoveRx
Corp.*
Product Area
Details (Date)
National Institutes Collaboration
of Health
DiscoveRx is providing
access to its PathHunter
technology for smallmolecule screening
Molecules will be screened
against targets of interest in the
NIH’s Molecular Libraries Roadmap initiative (1 1/3)
Exelixis Plant
Sciences Inc.
(unit of Exelixis
Inc.; EXEL)
Washington
State University
Research
Foundation
License
agreement
Exelixis will use its
technologies to develop
methods for producing
paclitaxel and taxane
intermediates
Exelixis has advanced developments of its its taxane cell factory program under a previous license from WSURF; terms were
not disclosed (12/28)
454 Life
Sciences Corp.
(majority owned
by CuraGen Corp.;
CRGN)
The Broad
Institute
Collaboration
The institute will
conduct genomic
studies relating to
the genetic basis for
complex diseases
The institute will use a genome
sequencer system from 454 in
the effort; terms of the deal were
not disclosed (12/19)
Gammacan
International Inc.
(Israel; OTC BB:GCAN)
Tel Hashomer
Research
Medical Research and license
Infrastructure and agreement
Services Ltd.
(Israel)
To explore mechanisms
of action and uses in
cancer treatment of IVIg
Terms of the deal were not disclosed (12/20)
Genentech Inc.
(NYSE:DNA)
Accelerate
Brain Cancer
Cure
To explore Genentech’s
Avastin for treating
patients with
glioblastoma multiforme
ABC2 will share expenses in an
imaging study and then would
provide resources for a Genentech-sponsored trial (10/19)
Genome
Express*
(France)
Centre Léon
Collaboration
Bérard and Centre
Jean Perrin
(both in France)
High-throughput sequencing program for the
mutational analysis of
300 gene candidates
in human cancers
Results of the research will be
made available to researchers;
the Mutacancer program is being
supported by France's National
Cancer Institute (10/28)
Genzyme Corp.
(GENZ)
University of
California at
Los Angeles
License
agreement
Genzyme got exclusive
diagnostic rights to
gene mutations believed
to be associated with
resistance to Gleevec
Genzyme intends to develop a
test to detect many BCR-ABL
mutations and monitor resistance in chronic myeloid leukemia
patients (10/6)
Hemispherx
Biopharma
Inc. (AMEX:HEB)
Canadian
Department of
National Defence
Research
agreement
To evaluate antiviral
efficacy of the
company’s Ampligen
and Alferon products
Defence R&D Canada is testing
the products against influenza
in an effort focused on the bird
flu (1 1/29)
Hemispherx
Biopharma
Inc. (AMEX:HEB)
National Institute
of Infectious
Diseases (Japan)
Research
agreement
The institute will
evaluate Hemispherx’s
Ampligen
It will assess the product as an
adjuvant to its nasal flu vaccine;
terms were not disclosed (10/3)
344
Type Of
Agreement
Collaboration
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Humanetics
Corp.*
Henry M. Jackson
Foundation for
the Advancement
of Military
Medicine Inc.
License
agreement
Deal to develop the
oral agent BIO300 for
protecting the immune
system against
radiation exposure
Humanetics assumed responsibility for continued testing,
development and commercialization of the product; terms
were not disclosed (12/8)
Humanetics
Corp.*
Mount Sinai
School of
Medicine
License
agreement
Humanetics got rights
to NIC5-15, a preclinical
agent being developed
for Alzheimer’s disease
They also agreed to a deal under
which Mount Sinai will test the
agent in humans; terms were not
disclosed (12/1)
Hybrigenics
SA* (France)
Genethon
(France)
Collaboration
Genethon will use
Hybrigenics technology
in research in muscle
cell proteins and
their interaction
Hybrigenics will use screening
and protein interaction mapping
software in the effort; Genethon
will own resulting data; terms
were not disclosed (12/21)
Illumina Inc.
(ILMN)
Cancer Research
UK
Services
agreement
Illumina will conduct
genotyping studies
focused on colorectal
cancer
Illumina’s Sentrix Arrays and
Infinium Assay will be used in
the multimillion-dollar deal (1 1/8)
Illumina Inc.
(ILMN)
Children’s
Agreement
Hospital Oakland
Research Institute
Illumina will provide
reagents and instrumentation for a study
by the institute
The institute is studying the
impact of single nucleotide polymorphisms on responses to
statins under an NIH-funded
program (10/20)
Invitrogen
Corp. (IVGN)
Families of
Spinal Muscular
Atrophy
Collaboration
To identify targets
linked to causes and
symptoms of spinal
muscular atrophy
Invitrogen will use its protein
microarray technology in the
intial stages of the deal; terms
were not disclosed (12/21)
Invitrogen
Corp. (IVGN)
National Center
for Drug
Screening (China)
Collaboration
Deal focused on the
high-throughput
screening of compound
libraries against nuclear
receptors
The center will use Invitrogen
technologies in the effort; terms
of the deal were not disclosed
(10/31)
Invitrogen
Corp. (IVGN)
Georgia Tech
Research Corp.
License
agreement
Invitrogen got exclusive
rights to metal nanocluster technology
The small, bright fluorescent particles may be useful in in vivo
and in vitro applications (10/6)
iQur Ltd.*
(UK)
University of
Southampton
License
agreement
iQur got rights to
technology used for
treating liver fibrosis
Terms of the deal were not disclosed (1 1/8)
Locus
Pharmaceuticals
Inc.*
Cornell Research
Foundation
License
agreement
Locus licensed a second
crystal structure of the
fusion protein gp41
Locus intends to use the structure to design small-molecule
inhibitors of HIV (1 1/15)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
345
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
MedImmune
Inc. (MEDI)
Burnham
Institute for
Medical Research
License
agreement
Deal to develop peptides targeting the EphA
and EphB subfamilies of
receptor tyrosine
kinases
MedImmune would develop and
market any resulting products;
Burnham gets an up-front fee
and potential milestone and royalty payments (12/8)
MedImmune
Inc. (MEDI)
Mount Sinai
School of
Medicine
License
agreement
MedImmune got exclusive rights to certain
reverse genetics
technology
Mount Sinai gets an up-front fee
and potential milestone and royalty payments; the technology
will be used to improve the
efficiency of producing new
influenza vaccine strains (12/7)
Memory
Pharmaceuticals
Corp. (MEMY)
The Stanley
Medical Research
Institute
Funding
support
The institute will help
fund trials of Memory’s
MEM 1003 for treating
bipolar disorder
The neuronal L-type calcium
channel modulator is nearing
Phase IIa trials in that indication;
Memory is eligible to receive up
to $3.2M in the deal (12/20)
MerLion
National Cancer
Pharmaceuticals
Institute
Pte. Ltd.* (Singapore)
Cooperative
Research and
Development
Agreement
To discover and develop
small-molecule inhibitors of the hypoxic
signaling pathway for
treating cancers
MerLion will perform initial
screening of candidate molecules; each party may then further investigate and develop
those candidates (10/18)
Metabolon
Inc.*
University
of Michigan
Collaboration
They will work to
discover disease
biomarkers for
prostate cancer
The deal marks Metabolon’s first
project as part of the NCI’s
Early Detection Research Network; the project is funded by an
NCI grant (1 1/30)
MicroIslet
Inc. (AMEX:MII)
Mayo Foundation
for Medical
Education and
Research
Supply
agreement
Mayo will supply
pathogen-free pigs to
MicroIslet for use in
development of a
product for diabetes
Pig islets will be used in the
MicroIslet-P product; MicroIslet
also got rights to use the pigs for
research and treatment in diabetes under the long-term deal
(1 1/22)
Morphotek
Inc.*
John Wayne
Cancer Institute
Collaboration
Deal to discover and
develop antibodies to
a cancer-associated
protein
Morphotek will apply its Human
Morphodoma technology to the
protein discovered at JWCI (1 1/14)
M-phasys GmbH*
(Germany)
Fraunhofer
Institute
(Germany)
Collaboration
Deal to discover monoclonal antibodies to
GPCR cancer targets
They will take resulting products
through early preclinical testing,
then offer them for licensing
(1 1/14)
346
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
MultiCell
Technologies
Inc. (OTC BB:MCET)
Columbia
University
Medical Center
Research
agreement
Deal to perform in vivo
tests on an agent for
protecting against
retinal ganglion cell
death
MultiCell will fund research and
have an exclusive option to
resulting discoveries; the focus is
on ocular neurodegenerative diseases (12/1)
MultiCell
Technologies
Inc. (OTC BB:MCET)
Thomas
Jefferson
University
Collaboration
Deal to evaluate the
The focus is their use as model
company's immortalized systems to identify new drugs to
human hepatocytes
treat hepatitis C viral infection
(10/20)
NanoMed
Pharmaceuticals
Inc.*
University
of Kentucky
Option
agreement
NanoMed will evaluate
raspberry gels for
treating and preventing
oral epithelial dysplasia
NanoMed intends to start trials in
humans; Ohio State University
also was a party to the exclusive
option agreement (12/13)
NovaThera Ltd.*
(UK)
Imperial College
London and
The Texas
Heart Institute
Collaboration
They established a
program to scale up
supply of human heart
cells for clinical trials
Using bioprocessor technology,
the group intends to develop
processes for the practical
manufacture of cells for medical
uses (12/12)
Novelix
Pharmaceuticals
Inc.*
University
of Southern
California
License
agreement
Novelix got exclusive
rights to a group of
potential cancer
therapeutics
The lead compound, NVX-144, is
expected to enter clinical trials
late in 2006; terms of the deal
were not disclosed (12/19)
Novelos
Therapeutics
Inc. (OTC BB:NVLT)
Shriners
Hospitals for
Children
Collaboration
Deal to confirm findings
in the therapy of acute
radiation injury obtained
in Russian experiments
They also plan to more precisely
identify the cellular and molecular actions of Novelo’s NOV-002
(1 1/8)
Open Biosystems
Inc.*
Four cancer
centers
Agreement
The centers adopted
the company’s short
hairpin RNA technology for use in cancer
research
Duke University, the National
Cancer Institute, Lee Moffitt
Cancer Center and Fox Chase
Cancer Center adopted the technology (12/19)
Peregrine
Pharmaceuticals
Inc. (PPHM)
Sidney Kimmel
Cancer Center
Manufacturing
agreement
Peregrine subsidiary
Avid Bioservices Inc.
will perform manufacturing services for SKCC
Avid will provide services related
to an antibody initially being
developed for lung cancer
(12/22)
Perlegen
Sciences Inc.*
and Affymetrix
Inc. (AFFY)
Wellcome Trust
entities (UK)
Collaboration
To conduct wholegenome association
studies to search for
genes associated with
10 complex diseases
Perlegen will genotype 15,000 individuals and produce more than 10
billion individual genotypes
using Affymetrix technology;
terms were not disclosed (10/5)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
347
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Phylogica Ltd.
(Australia; ASX:PYC)
University
of Western
Australia
Research
collaboration
UWA will screen
Phylogica’s library in
an effort focused on
phosphatases
One project targets leukemia
proteins and a second targets
stroke; they will jointly own
resulting technology (10/18)
Phylogica Ltd.
(Australia; ASX:PYC)
Massachusetts
License
General Hospital
agreement
and Johns Hopkins
University
Phylogica gained
access to genetic
screening technology
The technology augments the
company’s drug discovery capabilities; terms were not disclosed (10/18)
Prima Biomed
Ltd. (Australia;
ASX:PRR)
Walter Reed
Army Institute
of Research
Cooperative
Research and
Development
Agreement
Deal to include the
DCtag vaccine
adjuvant technology in
the development of a
malaria vaccine
The deal was signed with Prima
subsidiary Panvax Ltd. and the
Austin Research Institute; Prima
has rights to resulting technology (10/18)
Reata
Pharmaceuticals
Inc.*
National Cancer
Institute
Cooperative
Research and
Development
Agreement
Deal for the development of RTA 401
(CDDO), a synthetic
triterpenoid
Agent is a designed to induce programmed cell death in cancer cells
by activating redox-sensitive
signaling pathways (10/12)
Santhera
Pharmaceuticals
AG* (Switzerland)
National Institute
of Neurological
Disorders and
Stroke
Collaboration
To evaluate Santhera’s
SNT-MC17 (idebenone)
in patients with
Friedreich’s ataxia
The NIH will run a Phase II trial in
48 patients (1 1/3)
Savient
Pharmaceuticals
Inc. (SVNTE)
University of
California at
San Diego
License
termination
Savient ended a deal
covering development
of Prosaptide
The decision was made following
a failed Phase II trial in patients
with HIV-associated peripheral
neuropathy (12/22)
Sequenom
Inc. (SQNM)
University of
Oxford (UK)
License
agreement
Sequenom acquired
rights to non-invasive
prenatal diagnostic
technology
Isis Innovation Ltd., the technology transfer company of the university, is entitled to up-front
fees, milestone payments and
royalties on any sales (10/20)
Starpharma
Holdings Ltd.
(Australia; ASX:SPL)
Biomolecular
Amended
Research Institute agreement
Ltd. (Australia)
Starpharma acquired
outright ownership of
technology that was
shared when it was
spun out of BRI in 1996
Starpharma also acquired the
25% royalty that would be due to
BRI; the technology forms the
basis for its VivaGel microbicide
product; BRI got 7.1M Starpharma
shares (10/1 1)
Stem Cell
Sciences plc
(UK; AIM:STEM)
University of
Nice (France)
Stem Cell got rights to
human multipotent
adipose-derived stem
cells and technologies
Stem Cells will use the technology to develop cell therapies for
degenerative diseases; the university is entitled to up-front fees
and milestone and royalty payments (1 1/15)
348
License
agreement
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Collaborations Between Biotechnology Companies And Universities/Nonprofit Institutions (Continued)
Company*
(Symbol)
University/
Nonprofit
Type Of
Agreement
Product Area
Details (Date)
Transgene SA
(France; Eurolist:
FR0005175080)
International
AIDS Vaccine
Initiative
Manufacturing
agreement
Transgene will manufacture an AIDS vaccine
candidate for use in
clinical trials
Transgene will use its viral vectors process in the effort; terms
of the 18-month contract were
not disclosed (1 1/17)
20/20
GeneSystems
Inc.*
University
of Kentucky
License
agreement
20/20 got rights to a
a blood test for nonsmall-cell lung cancer
20/20 intends to create a screening test for the early detection of
lung cancer based on biomarkers
identified by UK (12/15)
U.S. BioDefense
Inc. (OTC BB:UBDE)
National Institutes Agreement
of Health
Deal focused on
USBD’s universal viral
inactivation method
The company said it is evaluating the technology with the NIH;
details were not disclosed (1 1/15)
Viragen Inc.
(AMEX:VRA)
Roslin Institute
(UK)
Renewed
agreement
They are working on
avian transgenic technology as a biomanufacturing platform
They now are evaluating two
candidates that already are on
the market; terms were not disclosed (1 1/1)
Viropro Inc.*
(Canada; OTC BB:
VPRO)
Biotechnology
Research
Institute (Canada)
Collaboration
Deal to develop
production procedures
for biological materials
and drugs
The intent is to market recombinant proteins and a new vaccination platform (12/1)
Xechem
International
Inc. (OTC BB:XKEM)
Virginia
Commonwealth
University
License
agreement
Xechem got rights to a
five-membered heterocyclic anti-sickling
compound
The compound will be studied
for treating sickle cell disease;
terms of the exclusive license
were not disclosed (12/9)
Xencor Inc.*
University of
Cambridge (UK)
License
agreement
Xencor got rights to
technology for creating
monoclonal antibodies
with enhanced potency
The technology includes specific
Fc variants that complement
Xencor's XmAb engineered Fc
domains; terms of the exclusive
deal were not disclosed (12/14)
Notes:
This chart does not include grants or contract awards, or agreements between biotech companies and clinical trial centers.
* Denotes privately held company.
@ Some institutions listed have for-profit components. They are located in the U.S. unless otherwise noted.
Unless otherwise noted, shares are traded on the Nasdaq exchange.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CDNX = Canadian
Venture Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin
Board; PK = Pink Sheets; TSE = Toronto Stock Exchange; VSE = Vienna Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
349
2005 Deals, Other Actions in Agriculture and Animals
Biotech Co.*
(Country;
Symbol)
Agbiotech
Partner (Country;
Symbol)
Type/Product
Area
Terms/Details
(Date)
AgraQuest
Inc.*
U.S. Department
of Agriculture
AgraQuest was awarded a
Phase II Small Business
Innovation Research grant
for development of a
biological fumigant
The two-year, $296,000 grant wil be used
for a product based on the fungus
Muscodor albus that is expected to have
multiple applications in post-harvest and
soil-borne diseases (1/4)
ArrayXpress
Inc.*
North Carolina
Biotechnology
Center
The center awarded ArrayXpress a $150,000 research
loan
ArrayXpress will use the loan to develop a
diagnostic test for a swine disease (3/8)
Arysta
LifeScience
Corp.* (Japan)
Bayer
CropScience
(unit of Bayer AG)
They entered agreements
that expand existing
collaboration
Arysta acquired amitraz (Mitac), an araricide and insecticide; got a license to market the fungicide fluoxastrobin in certain
areas; and got a license to co-market
deltamethrin, a pyrethroid insecticide, in
the U.S. (4/27)
Athenix Corp.*
Iowa Corn
Promotion Board
Research cooperation to
explore opportunities of
applying innovative
technologies to corn
The board partnered with Athenix on the
work under undisclosed terms (2/17)
Arcadia
Biosciences
Inc.*
National Institutes
of Health
Arcadia received a grant to
develop soybeans with desired
levels of soy isoflavones
Arcadia will use its Tilling screening technology in the effort; terms of the grant were
not disclosed (10/31)
Arcadia
Biosciences
Inc.* and
Washington
State University
National Institutes
of Health
Arcadia and WSU received a
Small Business Technology
Transfer grant related to
research on wheat
They will research lines of wheat with
reduced celiac disease-causing proteins
(10/5)
Arcadia
Biosciences
Inc.*
Monsanto Co.
Monsanto licensed rights to
use Arcadia’s nitrogen use
efficiency technology in
canola
Arcadia is entitled to an up-front payment
and potential milestone and royalty payments in the deal; Monsanto gets global
rights (9/20)
Avidis SA*
(France)
Merial Ltd. (joint
venture of Merck
& Co. Inc. and
Sanofi-Aventis)
Merial got rights to use
Avidis’ aXent technology
to develop recombinant
veterinary vaccines
aXent is an adjuvant-free immunization
technology; the agreement covers the use
of aXent for two infectious diseases (1 1/30)
BioDiem Ltd.*
(Australia)
Australian
Industry
Department
BioDiem was awarded an
A$2M ($1.5M) grant for
research on its antimicrobial
compound BDM-1
The AusIndustry Commercial Ready grant
will support testing of the product as a
potential replacement for antibiotics in the
poultry industry (12/21)
350
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology-Agribusiness Collaborations (Continued)
Biotech Co.*
(Country;
Symbol)
Agbiotech
Partner (Country;
Symbol)
Type/Product
Area
Terms/Details
(Date)
Chlorogen
Inc.*
Dow AgroSciences
LLC
They entered deals to use
chloroplast transformation
technology in Dow’s animal
health and agricultural
biotechnology businesses
The technology is used for expressing foreign genes in plant cells; one deal focuses
on animal health vaccines; the other is on
expressing Dow’s traits in agricultural
crops; terms were not disclosed (9/16)
Chromatin
Inc.*
University
of Illinois at
Urbana-Champaign
They launched a program to
accelerate development of
mini-chromosome technology
for the delivery of multiple
traits in corn
The partnership leverages expertise in corn
breeding and genetics at the university and
Chromatin’s mini-chromosome technology
for improving characteristics in corn; terms
were not disclosed (2/8)
CompleGen
Inc.*
DuPont Crop
Protection
CompleGen will use its
XenoGene system to discover
the targets of active compounds
identified by DuPont
XenoGene uses a reverse chemical genomics approach; it is the fourth deal between
the companies; terms were not disclosed
(5/1 1)
Crucell NV
(the Netherlands;
CRXL)
Merial Ltd. (joint
venture of Merck
& Co. Inc. and
Sanofi Aventis)
Nonexclusive deal allows
Merial to use the PER.C6 cell
line for developing a gene
therapy in a specific field of
companion animal medicine
The deal, which is the second between the
companies, includes an option for a commercial license agreement; terms were not
disclosed (12/22)
Cryptome
Dairy
Pharmaceuticals Australia
Ltd. (Australia;
ASX:CRP)
Three-year deal on research
to discover pharmaceuticals
and nutraceuticals in milk
proteins
Dairy Australia is supporting work at Cryptome to identify and characterize proteins
and fragments of proteins with potential
health benefits (1 1/9)
CytImmune
Sciences Inc.*
Boehringer
Ingelheim Animal
Health (Germany)
BI licensed rights to use
CytImmune’s drug delivery
technology for veterinary
applications
The technology will be applied to development of tumor-targeted cancer drugs for
the veterinary market; terms were not disclosed (2/16)
Cytos
Biotechnology
AG (Switzerland;
SWX:CYTN)
Pfizer Inc.
Pfizer entered an option
agreement on two Cytos
Immunodrug products for
animal health applications
Pfizer also has first right to negotiate on
other products for animal health; Cytos
gets an up-front payment and potential
milestone and royalty payments (1/6)
Evogene Ltd.*
(Israel)
Faculty of
Agriculture at
Hebrew University
(Israel)
Collaboration to jointly
develop tomato varieties with
improved taste and aroma
They will pool technologies and expertise
in the effort, terms of which were not
disclosed (5/24)
Exelixis Inc.
(EXEL)
GenOptera LLC
(joint venture of
Exelixis and Bayer
CropScience)
They are ending early a
venture formed in 2000
to develop insecticides;
Bayer is acquiring Exelixis’
40% stake in GenOptera
Bayer will have rights to resulting discoveries in agriculture; Exelixis will have rights in
all other fields; Exelixis will get an early termination fee of about $10.9M (4/1)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
351
2005 Biotechnology-Agribusiness Collaborations (Continued)
Biotech Co.*
(Country;
Symbol)
Agbiotech
Partner (Country;
Symbol)
Type/Product
Area
Terms/Details
(Date)
454 Life
Sciences Corp.
(majority owned
by CuraGen
Corp.; CRGN)
National Center
for Genome
Resources
454 was selected to
sequence the major
pathogen of vegetable crops,
Phytophthora capsici
454 and the NCGR will work with the Joint
Genome Institute of the Department of
Energy, Ohio State University and the
University of Tennessee in the collaboration (12/14)
Genaissance
Biotronics Ltd.
Pharmaceuticals (Cyprus)
Inc. (GNSC)
Genaissance will provide
high-throughput genotyping
services to Biotronics
Biotronics is working under a government
contract to establish a breeding program
in sheep that confers resistance to scrapie
(8/23)
Genaissance
Hellenic Ministry
Pharmaceuticals of Rural DevelopInc. (GNSC)
ment and Food
(Greece)
Genaissance will provide
high-throughput sample
handling and genotyping
services
The work under a deal with Antisel A.
Selidis Bros. SA is for establishing a breeding program in sheep that confers resistance to scrapie (8/1 1)
Genaissance
Monsanto Co.
Pharmaceuticals and the
Inc. (GNSC)
Agricultural
Research Service
Collaboration to develop
technology for more
accurate and efficient
soybean breeding
The firms and the USDA’s ARS will map the
genome of the soybean and make the data
publicly available; terms of the deal were
not disclosed (3/9)
GangaGen
Life Sciences
Inc.* (Canada)
Elanco
Animal Health
(unit of Eli Lilly
and Co.)
Deal to jointly develop and
sell phage-based products
for the control of dangerous
bacteria
A goal of the project is to eliminate pathogenic E. coli in cattle before the animal is
processed for food; terms of the deal were
not disclosed (9/14)
Genedata AG*
(Switzerland)
Bayer
CropScience
(unit of Bayer AG)
They extended for three
years a collaboration in
agrochemical research
The deal includes licenses for the AgroLead
edition of Genedata Phylosopher as well as
for Genedata Expressionist technology
(6/9)
GeoPharma
Inc. (GORX)
Dechra
Pharmaceuticals
plc (UK)
Worldwide marketing deal
on GeoPharma’s levothyroxine
liquid and tablets for animal
health applications
GeoPharma subsidiary Belcher Pharmaceuticals gets a $500,000 up-front payment;
they will equally share profits from the
product, which is used to treat hypothyroidism in dogs (2/17)
Icoria Inc.
(ICOR)
Monsanto Co.
Monsanto acquired Icoria
assets related to the field of
transgenic traits for agriculture
applications
Icoria gets $6.75M in cash, undisclosed
installment and milestone payments, plus
additional considerations; the companies
have been researching the area for six
years under an existing deal; a number of
Icoria employees will join Monsanto (3/24)
Icoria Inc.
(ICOR)
DuPont Crop
Protection
Icoria will screen a DuPont
chemical library to identify
compounds that improve
crop productivity
The goal is to increase nutrient uptake
and tolerance to environmental stress;
Icoria gets an undisclosed up-front payment and potential milestone and royalty
payments (2/1)
352
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology-Agribusiness Collaborations (Continued)
Biotech Co.*
(Country;
Symbol)
Agbiotech
Partner (Country;
Symbol)
Type/Product
Area
Terms/Details
(Date)
IDEXX
Laboratories
Inc. (IDXX)
European
Commission
The company’s HerdChek
test for postmortem detection
of bovine spongiform encephalopathy was approved in
Europe
The EIA test uses Seprion ligand technology
from Microsens Biotechnologies Ltd.; approvals in individual countries were expected to follow (2/18)
iDiverse Inc.*
University of
Nebraska at Lincoln
iDiverse licensed exclusive
rights to UNL’s transgenic
plant technology; they also
agreed to collaborate on
development
The technology may provide plants with
resistance to a range of diseases and environmental stresses; terms of the deal were
not disclosed (7/20)
Large Scale
Biology Corp.
(LSBC)
Growers Research
Group LLC
GRG licensed rights to use
LSBC’s Geneware plant gene
expression technology
GRG, a company whose members are a consortium of California agribusiness concerns, plans to discover new approaches
to crop protection under the exclusive,
worldwide research license; it also has an
option to gain commercial rights (1 1/22)
Lynx
Therapeutics
Inc. (merged
with Solexa Ltd.;
UK; SLXA)
U.S. Department
of Agriculture
Lynx’s Massively Parallel
Signature Sequencing
technology will be used in
a project focused on small
RNAs in rice
University of Delaware faculty members
got a grant for the work from the USDA;
resulting data will be made publicly available (2/24)
Lynx
Therapeutics
Inc. (merged
with Solexa Ltd.;
UK; SLXA)
National Science
Foundation
Lynx will provide genomewide transcriptome
sequencing services on
oyster samples
The work is being done under a research
grant the NSF awarded to University of
Southern California researchers for work
on genetics and physiology of oysters
(1/31)
Meridian
Bioscience
Inc. (VIVO)
Synbiotics Corp.
Deal under which
Synbiotics will distribute the
veterinary products of Meridian
subsidiary Viral Antigens Inc.
Synbiotics immediately began marketing
VAI’s line of pseudorabies virus antibody
test kits; they intend to explore additional
veterinary diagnostic product opportunities
(3/16)
MerLion
Dow
Pharmaceuticals AgroSciences
Pte. Ltd.*
LLC
(Singapore)
Collaboration to identify
candidates for new
agrochemical agents
MerLion brings its collection of natural
product samples, natural product chemistry and bioprocessing expertise to the
collaboration, terms of which were not disclosed (3/17)
Modular
Genetics Inc.*
Three-year deal under which
Monsanto gained an exclusive
license to use MGI’s protein
optimization platform in
agricultural applications
The deal includes the establishment of a
research facility in Cambridge, Mass.,
where business and research headquarters
will be relocated; terms of the deal were not
disclosed (3/14)
Monsanto Co.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
353
2005 Biotechnology-Agribusiness Collaborations (Continued)
Biotech Co.*
(Country;
Symbol)
Agbiotech
Partner (Country;
Symbol)
Type/Product
Area
Terms/Details
(Date)
ParAllele
BioScience
(acquired by
Affymetrix
Inc.; AFFX)
Dairy
Cooperative
Research Centre
(Australia)
Collaboration to screen the
DNA of more than 1,500
elite Australian dairy bulls
Technology from ParAllele and Affymetrix
will be used for a high-density genomewide scan; terms of the deal were not disclosed (1 1/9)
PRB
Vietnam
Pharmaceuticals Department of
Inc.* and Lee’s
Animal Health
Pharmaceuticals
Holdings Ltd.
(Hong Kong)
Vietnam officials will test
an animal version of PRB’s
antiviral product on their
poultry flocks
The effort is part of a multinational avian
influenza research collaboration that
includes institutions in Hong Kong, China
and Thailand (7/8)
PR
Merial Ltd.
Pharmaceuticals (joint venture of
Inc.*
Merck and Co. Inc.
and Sanofi-Aventis
Group)
Collaboration to develop
animal health products using
PRP’s sustained-release
formulation and manufacturing
technologies
Merial has exclusive rights to resulting
products; terms were not disclosed; Merial
already distributes PRP’s DuraLease product to the North American beef industry
(3/16)
Perlegen
Sciences Inc.*
International Rice
Research Institute
(the Philippines)
Collaboration to identify DNA
variation in 15 rice strains
Perlegen will use its high-throughput
oligonucleotide array approach enabled by
Affymetrix Inc. GeneChip technology in the
effort; terms were not disclosed (1 1/16)
Sangamo
BioSciences
Inc. (SGMO)
Dow AgroSciences
LLC
Dow got rights to access
Sangamo’s zinc finger DNAbinding protein technology for
use in plants and plant cell
cultures
The deal is exclusive in plant agriculture
and industrial products, and nonexclusive
in animal health and biopharmaceutical
products produced in plants; Sangamo
could get $27.5M in the first three years of
the deal and up to $53M overall, plus milestone and royalty payments (10/5)
Scynexis Inc.*
Merial Ltd.
(joint venture of
Merck and Co. Inc.
and Sanofi-Aventis
Group)
Collaboration under which
Scynexis will be the primary
animal health discovery
research partner for Merial
The agreement could run up to 15 years
and be worth up to $150M for Scynexis,
which also could get milestone payments
and sales royalties in the deal (9/29)
Sequenom
Inc. (SQNM)
GeneSeek Inc.*
GeneSeek purchased
Sequenom’s MassARRAY
genetic analysis system
GeneSeek will use the system for animal
diagnostic testing, traceability and contract
research and development (12/19)
Sequenom
Inc. (SQNM)
MetaMorphix
Inc.*
MMI will use use Sequenom’s
MassARRAY technology in
field trials of DNA-based
animal predictive diagnostic
tools
The deal supports an agreement MMI has
with Cargill Inc.; the effort with Sequenom
focuses on DNA screening and selection
in livestock and companion animals (1 1/7)
354
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology-Agribusiness Collaborations (Continued)
Biotech Co.*
(Country;
Symbol)
Agbiotech
Partner (Country;
Symbol)
Type/Product
Area
Terms/Details
(Date)
Sygen
International
plc (UK; LSE:SNI)
Genus plc
(UK; AIM:GNS)
They reached an agreement
under which Genus would
acquire Sygen for £187M
($322M) in cash
Sygen applies quantitative genetics and
biotechnology to animal breeding; Genus
focuses on bovine genetics (10/28)
Xpention
Genetics Inc.*
University of
Texas M.D.
Anderson Cancer
Center
Xpention got exclusive rights
to technology for detecting
cancer based on the p65
tumor marker
Xpention initially plans to use the technology to develop an immunological test for
detecting cancer in canines; the technology
also has applicability in humans; Xpention
would pay royalties on resulting sales
(4/27)
Vical Inc.
(VICL)
Aqua Health Ltd.
(Canada; affiliate
of Novartis Animal
Health)
Aqua Health got approval in
Canada to market a vaccine
for farm-raised salmon
The APEX-IHN vaccine, based on Vical’s
plasmid DNA delivery technology, was
approved for use against infectious
hematopoietic necrosis virus (7/19)
Notes:
This chart contains information on new and revised corporate agreements, as well as other actions, involving agricultural
or animal biotechnology.
* Private companies are indicated with an asterisk.
Unless otherwise indicated, shares are traded on the Nasdaq exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
355
BIOWORLD
®
B I O T E C H
P R O D U C T
DEVELOPMENT
Who’s To Blame For Fewer
Approvals: FDA Or Biotech?
By Aaron Lorenzo
Washington Editor
WASHINGTON – The FDA approved fewer drugs last year than in 2004 –
by some estimates a downturn of about a third or more – leaving industry
observers wondering why.
Perhaps it’s a more conservative stance at the FDA.
“That’s what some people think,” said Michael Werner, who heads The
Werner Group, a Washington-based consulting firm, “and it’s one of those
things that once people start thinking that way, it sort of becomes true.”
Or maybe it’s a drug industry that is drying up.
Said Scott Gottlieb, the agency’s deputy commissioner for medical and
scientific affairs, “There’s a decline in research productivity” at drugmakers,
even though research and development spending “continues to grow at a
rapid pace.” Talking late last year to members of PhRMA, he called such a
disconnect “unsustainable” and implored the industry to move toward
“approaches that increase the use of mechanistic data in preclinical and clinical research” to target new medicines to patients “likely to experience more
of the benefits and fewer of the side effects.”
More to the point, he said drug developers should begin to relay on new
technologies in designing therapies, and they will get the FDA’s support in
the process.
Vera Hassner Sharav, president of the Alliance for Human Research
Protection in New York, also blamed drug developers.
“Part of the reason for the void,” she said, “is that the drug industry has
set its vision on only the immediate profits. They didn’t plan ahead; it’s
short-sightedness.” Sharav added that the industry is wrong in claiming that
the FDA “is blocking the gates,” and added that there “are no decent drugs in
the pipeline.”
Werner disagreed, noting there are numerous biotech products “out
there in late-stage clinical development.”
The debate rages on. BioWorld Snapshots show there were 19 new drugs
approved for biotech companies, four biotech-derived new chemical entities
cleared for big pharma companies and 10 supplemental indications
approved by the FDA. That compares to 26 new drug approvals from the
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
359
FDA in 2004 but does not include supplemental approvals or pharma
approvals for biotech-derived drugs. The 2005 figure also is notably lower
than 2003’s 23 and 2002’s 26 biotech approvals.
Among the biotech drugs approved last year was BiDil (isosorbide dinitrate/hydralazine hydrochloride, from NitroMed Inc.), a combination product notable for its heart failure label specific to black patients.
In the oncology space, Celgene Corp.’s Revlimid (lenalidomide) was
approved for myelodysplastic syndromes. Partners Onyx
Pharmaceuticals Inc. and Bayer Pharmaceuticals Corp. received clearance for Nexavar (sorafenib) in advanced renal-cell carcinoma. Savient
Pharmaceuticals Inc.’s Soltamox, an oral liquid solution of tamoxifen, was
approved for treating breast cancer in adjuvant and metastatic settings, and
Abraxane (nanoparticle albumin-bound paclitaxel) from American
Pharmaceutical Partners Inc. was cleared for use after failure of
chemotherapy in metastatic breast cancer.
Two closely interwoven growth hormone products won approval:
Increlex (mecasermin, from Tercica Inc.) for growth failure due to primary
IGFD, and iPlex (mecasermin rinfabate, from Insmed Inc.) for growth failure in children with severe primary IGF-1 deficiency, or with growth hormone gene deletion who have developed neutralizing antibodies to growth
hormone. Both products have orphan drug designation by the FDA, and
Tercica is suing Insmed for patent infringement.
BioMarin Pharmaceuticals Inc.’s enzyme-replacement therapy
Naglazyme (galsulfase) was approved for mucopolysaccharidosis VI, or
Maroteaux-Lamy syndrome, a rare genetic disease that causes a deficiency
of an enzyme needed for breaking down sugar.
Two new diabetes products from Amylin Pharmaceuticals were
approved: Byetta (exenatide) for the adjunctive treatment of Type II mellitus
and Symlin (pramlintide) for Type I and II diabetes. The former is partnered
with Eli Lilly and Co. Another Type II diabetes treatment, once-daily,
extended-release Glumetza (metformin), was approved for Depomed Inc.,
which also got Proquin XR’s (ciprofloxacin) approval for uncomplicated urinary tract infections.
Nastech Pharmaceutical Co. Inc.’s Nascobal (cyanocobalamin) nasal
spray won approval for vitamin B-12 deficiency, and Unigene Laboratories
Inc.’s Fortical (calcitonin-salmon, rDNA origin) nasal spray was cleared for
360
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
postmenopausal osteoporosis. In the ocular arena, ISTA Pharmaceuticals
Inc.’s Xibrom (bromfenac sodium ophthalmic solution) was cleared for
treating ocular inflammation following cataract surgery.
Two identical counterterrorism products received approval for treating
adverse reactions to smallpox vaccination: vaccinia immune globulin, from
DVC LLC and CanGene Corp. DVC, formerly known as DynPort Vaccine
Co., is under contract to sell its product, called VIGIV, to the Department of
Defense, and CanGene has a contract to sell its drug, VIG, to the Department
of Health and Human Services.
Halozyme Therapeutics Inc. received a pair of approvals: Hylenex
(rhHyaluronidase) for adjuvant use to increase the absorption and dispersion of other injected drugs, and Cumulase (rhHyaluronidase) for treating
oocytes to facilitate certain in vitro fertilization procedures.
That’s an impressive list, a sign, Werner said, of a maturing biotech sector.
“There are many promising products in the pipeline, and there are also
new uses of currently marketed products,” he said.
Approvals By Big Pharma; Expanded Indications
Several large pharmaceutical firms also received approvals for new
chemical entities using biotech methods, including Bristol-Myers Squibb
Co.’s Baraclude (entecavir) for chronic hepatitis B infections and Orencia
(abatacept) for rheumatoid arthritis, as well as Boehringer Ingelheim’s
Aptivus (tipranavir) for HIV-1 infections.
Also, a number of already-approved drugs received supplemental
approvals to broaden their usages and indications. They included Tarceva
(erlotinib), from OSI Pharmaceuticals Inc. and Genentech Inc., for use
with gemcitabine for treating advanced pancreatic cancer; Millennium
Pharmaceuticals Inc.’s Velcade (bortezomib) was expanded for multiple
myeloma patients who have received at least one prior therapy; Centocor
Inc.’s Remicade (infliximab) received an expanded label to include ulcerative colitis and for reducing the signs and symptoms of active arthritis in
patients with psoriatic arthritis; Amgen Inc.’s Enbrel (etanercept) now has a
broadened indication in psoriatic arthritis, including improving physical
function; Orphan Medical Inc.’s Xyrem (sodium oxybate) received supplemental approval for excessive daytime sleepiness associated with narcolepsy; Genentech Inc.’s Nutropin (somatropin [rDNA origin] for injection) and
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
361
Nutropin AQ got supplemental clearances for the long-term treatment of
idiopathic short stature; The Medicines Co.’s anticoagulant Angiomax
(bivalirudin) expanded its label to include patients undergoing percutaneous coronary intervention; and a new formulation of the osteoporosis
drug Boniva (ibandronate) was cleared for partners F. Hoffmann-La Roche
Ltd. and GlaxoSmithKline plc. ■
362
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products Approved By The FDA In 2005
Company*
(Symbol)
Product
Amgen Inc.
(AMGN)
and Wyeth
Description
Indication
Action/Date
Enbrel
Etanercept; anti-tumor
(FDA-approved) necrosis factor-alpha
antibody
Psoriatic
arthritis
The FDA approved an expanded
indication, to improve physical
function in PA patients; it was
approved for treating PA in 2002
(6/1)
American
Pharmaceutical
Partners Inc.
(APPX)
Abraxane
Paclitaxel protein-bound
particles for injection;
albumin-bound
Metastatic
breast cancer
The FDA approved the drug for
use after failure of chemotherapy
for metastatic disease or relapse
within six months of adjuvant
chemotherapy (1/8)
Amylin
Pharmaceuticals
Inc. (AMLN) and
Eli Lilly and Co.
Byetta
Exenatide; Incretin mimetic
Type II diabetes
The FDA approved the drug as an
adjunctive therapy to improve
blood sugar control in patients
not achieving adequate control on
metformin and/or a sulfonylurea
(4/29)
Amylin
Pharmaceuticals
Inc. (AMLN)
Symlin
Pramlintide acetate; an
analogue of human amylin
Types I and II
diabetes
The FDA approved the drug for
use with insulin in patients who
failed to achieve desired glucose
control with insulin (3/16)
BioMarin
Pharmaceutical
Inc. (BMRN)
Naglazyme
Galsulfase; an enzyme
replacement therapy
Mucopolysaccharidosis-VI
The FDA approved the drug,
which has orphan status in the
U.S. (6/1)
Cangene
Corp. (Canada;
TSE:CNJ)
VIG
Vaccinia immune globulin
For use in
smallpox
vaccinations
The FDA approved the product for
use in counteracting certain
adverse reactions to smallpox
vaccination (5/4)
Celgene Corp.
(CELG)
Revlimid
Lenalidomide; derivative
of Thalomid (thalidomide)
Myelodysplastic
syndromes
The FDA approved the product for
treating transfusion-dependent
anemia due to low- or intermediate-1-risk MDS associated with a
deletion 5q cytogenetic abnormality (12/28)
Centocor Inc.
(unit of Johnson
& Johnson)
Remicade
Infliximab; monoclonal
(FDA-approved) antibody that targets tumor
necrosis factor-alpha
Psoriatic
arthritis
The FDA approved the drug to
reduce the signs and symptoms
of active arthritis in patients with
PA (5/17)
Centocor Inc.
(unit of Johnson
& Johnson)
Remicade
Infliximab; monoclonal
(FDA-approved) antibody that targets tumor
necrosis factor-alpha
Ulcerative
colitis
The FDA approved the product
for treating ulcerative colitis
(9/16)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
363
Biotechnology Products Approved By FDA In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Depomed Inc.
(DEPO) and
Biovail Corp.
(Canada)
Glumetza
Once-daily, extendedrelease formulation of
metformin hydrochloride
Type II diabetes
The FDA approved the product
(6/3)
Depomed Inc.
(DEPO)
Proquin XR
Once-daily, extendedrelease formulation of
ciprofloxacin hydrochloride
Uncomplicated
urinary tract
infections
The FDA approved the product in
that indication (5/20)
DVC LLC
(unit of Computer
Sciences Corp.)
VIGIV
Intravenous vaccinia
immune globulin
Side effects of
smallpox vaccine
The FDA approved the product for
treating adverse reactions to
smallpox vaccination (2/22)
Genentech
Inc. (NYSE:DNA)
Nutropin and
Nutropin AQ
(both FDAapproved)
Somatropin for injection
Idiopathic
short stature
The FDA approved supplemental
applications for the long-term
treatment of ISS (7/7)
Halozyme
Therapeutics
Inc. (AMEX:HTI)
Cumulase
Ex vivo formulation of
recombinant human
PH20 hyaluronidase
Treatment
of oocytes
Received 510(k) clearance from the
FDA for treating oocytes to facilitate certain in vitro fertilization
procedures (4/19)
Halozyme
Therapeutics
Inc. (AMEX:HTI)
Hylenex
(formerly
Enhanze SC)
Formulation of recombinant
human hyaluronidase
For use as a
spreading agent
The FDA approved the product for
use as an adjuvant agent to
increase the absorption and dispersion of other injected drugs;
Baxter Healthcare Corp. will market the product (12/5)
Insmed Inc.
(INSM)
iPlex
(SomatoKine)
Composition of insulin-like Severe
growth factor-1 and its
primary IGF-1
primary binding protein, BP3 deficiency
The FDA approved the product for
treating growth failure in children
with severe primary IGF-1 deficiency (12/12)
ISTA
Pharmaceuticals
Inc. (ISTA)
Xibrom
Bromfenac sodium
solution; topical nonsteroidal anti-inflammatory
agent
Ocular
inflammation
following
cataract surgery
The FDA approved the product
(3/28)
Millennium
Pharmaceuticals
Inc. (MLNM)
Velcade
Bortezomib; proteasome
(FDA-approved) inhibitor
Multiple
myeloma
The FDA approved supplemental
NDA to include the treatment of
patients who have received at
least one prior therapy (3/25)
Nastech
Pharmaceutical
Co. Inc. (NSTK)
Nascobal
Vitamin B-12
deficiency
The FDA approved the product;
Questcor Pharmaceuticals Inc. has
worldwide marketing rights (2/1)
364
Nasally delivered formulation of cyanocobalamin
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products Approved By FDA In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
NitroMed Inc.
(NTMD)
BiDil
Nitric oxide-enhancing oral
agent; combination of
isosorbide dinitrate and
hydralazine
Heart failure
in AfricanAmericans
The FDA approved the drug (6/23)
Onyx
Pharmaceuticals
Inc. (ONXX) and
Bayer Pharmaceuticals Corp.
Nexavar
(sorafenib)
RAF kinase and VEGF
inhibitor
Advanced
renal-cell
carcinoma
The FDA approved the product for
treating advanced kidney cancer
(12/20)
Orphan
Medical Inc.
(unit of Jazz
Pharmaceuticals
Inc.*)
Xyrem
Sodium oxybate oral
(FDA-approved) solution
Narcolepsy
The product gained FDA approval
for treating excessive daytime
sleepiness in patients with narcolepsy (1 1/22)
OSI
Pharmaceuticals
Inc. (OSIP) and
Genentech
Inc. (NYSE:DNA)
Tarceva
Erlotinib HCl; small(FDA-approved) molecule HER1/EGFR
inhibitor
Advanced
pancreatic
cancer
The FDA approved supplemental
filing for use with gemcitabine in
patients with advanced disease
who have not received previous
chemotherapy (1 1/3)
Savient
Pharmaceuticals
Inc. (SVNTE)
Soltamox
Tamoxifen oral liquid
solution
Breast cancer
The FDA approved the product
for use in adjuvant and metastatic
settings and to reduce risks of
breast cancer under certain conditions (10/31)
Tercica Inc.
(TRCA)
Increlex
Mecasermin injection;
recombinant human
insulin-like growth factor-1
Short stature
caused by IGF
deficiency
The FDA approved the drug for
long-term treatment of growth
failure in children with severe primary IGF-1 deficiency or with
growth hormone gene deletion
who have developed neutralizing
antibodies to growth hormone
(8/31)
The Medicines
Co. (MDCO)
Angiomax
Bivalirudin; direct thrombin
(FDA-approved) inhibitor
Anticoagulant
The FDA expanded the label to
include patients undergoing percutaneous coronary intervention
(6/15)
Unigene
Laboratories
Inc. (OTC
BB:UGNE)
Fortical
Osteoporosis
The FDA approved the product for
treating postmenopausal osteoporosis; Upsher-Smith Laboratories Inc. will market it (8/15)
A nasal calcitonin product
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
365
Biotechnology Products Approved By FDA In 2005
Notes:
* Privately held
Unless otherwise noted, the stock symbols listed for public companies are on the Nasdaq market.
AMEX = American Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE =
Toronto Stock Exchange.
366
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Actelion Ltd.
Tracleer
Actelion Ltd.
Pulmonary arterial hypertension (1 1/01)
Actelion Ltd.
and Celltech
Group plc
Zavesca
Actelion Ltd.
Type I Gaucher’s disease (8/03)
Advanced Tissue
Sciences Inc.
Dermagraft
Smith & Nephew plc
Chronic foot ulcers in diabetic patients (10/01)
Agouron
Pharmaceuticals
Inc. (acquired by
Warner-Lambert Co.)
Viracept
GlaxoSmithKline plc;
F. Hoffmann-La Roche
Ltd.
HIV protease inhibitor (3/97); twice-daily dosing for
HIV (12/99)
Alkermes Inc.
Risperdal
Consta
Johnson & Johnson
Approved for treating schizophrenia (10/03)
Alliance
Pharmaceutical
Corp.
Imagent
Alliance Pharmaceutical To provide anatomical information about the heart not
Corp., Cardinal Health obtainable using echocardiography alone (6/02)
Inc. and inChord
Communications Inc.
Alpha
AlphaNine SD
Alpha Therapeutic Corp.
To prevent and control bleeding due to Factor IX deficiency associated with hemophilia B (7/96)
Therapeutic Corp.
(acquired by
Baxter Healthcare
Corp.)
Aralast
Baxter Healthcare
Corp.
Congenital deficiency of alpha-1 proteinase inhibitor
and clinically evident emphysema (1/03)
Alza Corp.
(subsidiary of
Johnson & Johnson)
Doxil
Alza Corp.
Refractory ovarian cancer (6/99)
Amgen Inc.
(also, see
Immunex Corp.)
Aranesp
Amgen Inc.
Anemia associated with chronic renal failure (9/01); for
chemotherapy-induced anemia in patients with nonmyeloid malignancies (7/02)
Epogen
Amgen Inc.
Treatment of anemia associated with chronic renal failure and anemia in Retrovir-treated HIV-infected
patients (6/89); anemia caused by chemotherapy in
patients with non-myeloid malignancies (4/93)
Infergen
Amgen Inc.; Yamanouchi Consensus alpha interferon for hepatitis C (10/97)
Pharmaceutical Co. Ltd.
Kepivance
Amgen Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
For severe oral mucositis in patients with blood
cancers who are undergoing high-dose chemotherapy
followed by a bone marrow transplant (12/04)
367
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Amgen Inc.
Kineret
Amgen Inc.
Rheumatoid arthritis (1 1/01)
Neulasta
Amgen Inc.
Chemotherapy-induced neutropenia (2/02)
Neupogen
F. Hoffmann-La Roche
Ltd.; Amgen; Kirin
Brewery Co. Ltd.
Chemotherapy-induced neutropenia (2/91); bone marrow
transplant (6/94); severe chronic neutropenia (12/94);
support peripheral blood progenitor cell transplantation (12/95); acute myelogenous leukemia (4/98)
Amgen Inc.
Sensipar
and NPS
Pharmaceuticals Inc.
Amgen Inc.
To treat secondary hyperparathyroidism in kidney
disease patients on dialysis, and to treat elevated calcium
levels in patients with parathyroid carcinoma (3/04)
Anika
Therapeutics Inc.
Shellgel
Anika Therapeutics
Inc.
For protecting eye tissue and maintaining eye shape
during ophthalmic surgery (7/01)
Orthovisc
Ortho Biotech
Products LP
Pain from osteoarthritis of the knee (2/04)
AnorMED Inc.
Fosrenol
Shire Pharmaceuticals
Group plc
To reduce elevated blood levels of phosphate in patients
with end-stage renal disease (10/04)
Athena
Neurosciences
Inc. (subsidiary of
Elan Corp plc)
Zanaflex
Athena Neurosciences
Inc.
Spasticity associated with spinal cord injuries
and multiple sclerosis (12/96)
Atrix
Laboratories Inc.
Atrisorb
Barrier
Block Drug Co.
Periodontal disease (3/96); periodontal surgery (9/00)
Eligard
Sanofi-Synthelabo Inc.
7.5 mg for advanced prostate cancer (1/02); 22.5 mg for
advanced prostate cancer (7/02); 30 mg for advanced
prostate cancer (2/03)
Avanir
Pharmaceuticals
Inc.
Abreva
(Docosanol)
GlaxoSmithKline plc
Cold sores and fever blisters (7/00)
Aventis Behring
LLC
Helixate
Aventis Behring LLC
and Bayer Biological
Products Business Unit
Helixate was approved for treatment of hemophilia
A (2/94); second-generation factor VIII approved
for treatment of hemophilia A (6/00)
BioChem
Pharma Inc.
(merged with
Shire Pharmaceuticals Group)
3TC (Epivir)
GlaxoSmithKline plc
In combination with AZT for HIV infection and AIDS
(1 1/95)
Combivir
GlaxoSmithKline plc
Single-tablet formulation of 3TC and AZT for HIV (9/97)
Pacis BCG
BioChem Pharma
Bladder cancer (3/00)
Trizivir
ND
HIV (1 1/00)
368
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Biogen Idec Inc.
and Elan Corp. plc
Tysabri
Biogen Idec Inc. and
Elan Corp. plc
For treating relapsing forms of multiple sclerosis
(1 1/04)
Biogen Idec Inc.
Amevive
Biogen Idec Inc.
Approved for treating chronic plaque
psoriasis (1/100
Avonex
Biogen Inc.
Multiple sclerosis (5/96); new labeling
allows use after first MS attack (2/03)
Energix-B
GlaxoSmithKline plc
Hepatitis B vaccine (9/89)
Intron-A
Schering-Plough Corp.
Hairy-cell leukemia (6/86); genital warts (6/88);
AIDS-related Kaposi’s sarcoma (1 1/88); hepatitis C
(2/91); hepatitis B (7/92); adjuvant with surgery in
those with high risk of malignant melanoma recurrence
(12/95); low-grade non-Hodgkin’s lymphoma
(1 1/97); hepatitis B in pediatric patients (8/98)
Recombivax HB
Merck & Co. Inc.
Hepatitis B vaccine (7/86)
Biomatrix Inc.
Synvisc
Wyeth
Pharmaceuticals
Viscosuplementation treatment for arthritis of the
knee (8/97)
Biosonix Ltd.
FlowGuard
Neoprobe Corp.
Diagnostic product to determine blood flow in noninvasive diagnostic and intraoperative applications (2/02)
Biota Holdings
Ltd.
Relenza
Glaxo Wellcome plc
Zanamivir for inhalation for treatment of influenza A
and B (7/99)
Bio-Technology
General Corp.
BioTropin
Cannot sell in U.S.
Human growth hormone deficiency in children
due to court injunction (5/95)
BioTime Inc.
Hextend
N/A
Boehringer
Mannheim Corp.
Retavase
Centocor Inc. (acquired Thrombolytic agent for acute myocardial infarction
marketing rights from (10/96)
Boehringer Mannheim
Corp. and Dupont Merck
Pharmaceuticals
Corp. in 1998)
Hypovolemia (3/99)
Cambridge
Humria
Antibody
Technology Group
plc
Abbott
Laboratories
Rheumatoid arthritis (12/02); expanded label
to include reducing symptoms and inhibiting
structural damage (1/03); improvement in physical
function in RA patients (8/04)
Celgene Corp.
Novartis Pharmaceuticals Corp.
Attention deficit/hyperactivity disorder (1 1/01)
Focalin
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
369
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
CellPro Inc.
Ceprate SC
System
CellPro Inc.
Separated cells returned to patient after chemotherapy
or marrow-destroying procedures to restore bone
marrow (12/96)
Celltech Chiroscience Group
(unit of Celltech
Group plc; acquired
by UCB SA)
Mylotarg
Wyeth
Targeted chemotherapy agent to treat patients 60 years
and older in first relapse with CD33-positive acute
myeloid leukemia who are not considered candidates
for cytotoxic chemotherapy (5/00)
Celltech Group
plc (acquired by
UCB SA)
Metadate CD
Celltech
Group plc
Attention deficit hyperactivity disorder (4/01)
Cell Therapeutics
Inc.
Trisenox
Cell Therapeutics
Inc.
Acute promyelocytic leukemia (9/00)
Centocor Inc.
(unit of Johnson
& Johnson)
Remicade
Centocor Inc.
Crohn’s disease (8/98); rheumatoid arthritis (1 1/99); for
use in conjunction with methotrexate to inhibit the
progression of damage in patients with moderately to
severely active rheumatoid arthritis (1/01); to be used
in combination with methotrexate to improve physical
function in patients with moderately to severely active
rheumatoid arthritis who have had an inadequate response
to methotrexate alone (12/02); for long-term remissionlevel control of symptoms associated with Crohn’s
disease (7/02); fistulizing Crohn’s disease (4/03); for
use as a first-line treatment in moderate to severe RA
(9/04); ankylosing spondylitis (12/04)
ReoPro
Eli Lilly and Co.
To inhibit platelet aggregation in high-risk angioplasty
(12/94)
Cephalon Inc.
Provigil
Cephalon Inc.
Treatment for excessive daytime sleepiness associated
with narcolepsy (12/98); excessive sleepiness
associated with obstructive sleep apnea/hypopnea
syndrome and shift-work sleep disorder (1/04)
Chiron Corp.
Betaseron
Berlex Laboratories Inc. Relapsing, remitting multiple sclerosis (7/93); new
labeling approved to include studies in secondary
progressive MS, and for reducing exacerbations in
relapsing forms of the disease (3/03)
Proleukin
Chiron Corp.
370
Renal cell carcinoma (5/92); metastatic melanoma
(1/98)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Chiron Corp.
and OrthoClinical Diagnostics Inc. (unit
of Johnson &
Johnson)
RIBA HCV
3.0 Strip
Immunoblot Assay
OrthoClinical
Diagnostics Inc.
Confirmatory test for hepatitis C (2/99)
Chiron TheraAredia
peutics (business
unit of Chiron Corp.)
and Ciba Pharmaceuticals (division of
Novartis AG)
Chiron Corp.
Treatment of metastatic bone disease in patients with
breast cancer (used in conjunction with standard
therapy) (8/96)
Chiron Vision
(unit of Chiron
Corp.; division since
acquired by Bausch
& Lomb)
Chiron Corp.
Cytomegalovirus retinitis infection in AIDS
patients (3/96)
CollaGenex
Periostat
Pharmaceuticals Inc.
CollaGenex
For the treatment of adult periodontitis in a new
CollaGenex tablet formulation (2/01)
Connetics Corp.
Luxiq
Connetics Corp.
Relief of inflammatory and pruritic manifestations of
corticoid-responsive dermatoses of the scalp (3/99)
Olux
Connetics Corp.
Short-term topical treatment of the inflammatory
and pruritic manifestations of moderate to severe
corticoid-responsive dermatoses of the scalp (5/00);
for the short-term topical treatment of mild to
moderate plaque-type psoriasis of non-scalp
regions excluding the face and intertriginous
areas (12/02)
Bexxar
GlaxoSmihtKline plc
For treating non-Hodgkin’s lymphoma (6/03)
Corixa Corp.
Vitrasert
COR Therapeutics Integrilin
Inc. (acquired by
Millennium
Pharmaceuticals Inc.)
Schering-Plough Corp./ Acute coronary syndrome and angioplasty (5/98)
COR Therapeutics
CoTherix Inc.
Ventavis
CoTherix Inc.
For treating pulmonary arterial hypertension in
patients with NYHA Class III or IV symptoms (12/04)
Cubist
Pharmaceuticals
Inc.
Cubicin
Cubist
Skin infections caused by Gram-positive
bacteria (9/03)
Curis Inc.
OP-1
Stryker Corp.
To repair and regenerate tissue (10/01)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
371
Biotechnology Products On The Market
Company*
Product
Marketer
Cypress
Bioscience Inc.
and Fresenius
Hematology Inc.
(subsidiary of
Fresenius AG)
Prosorba
Column
Cypress Bioscience Inc. Moderate to severe rheumatoid arthritis (3/99)
Cytogen Corp.
Quadramet
Cytogen Corp.
Radiopharmaceutical for pain associated with bone
cancer (3/97)
Debiopharm SA
Trelstar LA
Debiopharm SA
Advanced-stage prostate cancer (7/01)
DepoTech Corp.
(subsidiary of
SkyePharmplc)
and Chiron Corp.
DepoCyt
Chiron Corp.
Lymphomatous meningitis (4/99)
Eli Lilly and Co.
Humalog
Eli Lilly and Co.
Diabetes (6/96)
Humatrope
Eli Lilly and Co.
Human growth hormone deficiency in children
(3/87); somatotropin deficiency syndrome in
adults (8/96)
Xigris
Eli Lilly and Co.
Sepsis (1 1/01)
Endo
Pharmaceuticals
Inc. and
SkyePharma plc
DepoDur
Endo Pharmaceuticals
Inc.
For treating pain following major surgery (5/04)
Enzon Inc.
Adagen
Enzon Inc.
Treatment of infants and children with severe
combined immunodeficiency (1990)
Oncospar
Rhone-Poulenc Rorer
Inc.
Acute lymphoblastic leukemia (2/94)
Peg-Intron
Schering-Plough Corp.
Chronic hepatitis C (1/01)
Peg-Intron
Powder
Schering-Plough Corp.
Chronic hepatitis C in patients with
compensated liver disease (8/01)
Rebetol
Schering-Plough Corp.
To be used in combination with Intron A
injection for chronic hepatitis C (7/01);
approved for pediatric hepatitis C (7/03)
Eyetech
Pharmaceuticals
Inc. and Pfizer Inc.
For for treating wet age-related macular
degeneration (12/04)
Eyetech
Macugen
Pharmaceuticals
Inc. (acquired by
OSI Pharmaceuticals Inc.)
372
Indication (U.S. Approval Date)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
GelTex Pharmaceuticals Inc.
(acquired by
Genzyme Corp.)
Renagel
Genzyme General
Reduction of serum phosphorus in patients with
end-stage renal disease (1 1/98); reduction of serum
phosphorus in hemodialysis patients with end-stage
renal disease (7/00)
Welchol
Sankyo Parke Davis
Adjunctive therapy to diet and exercise for the
reduction of low-density lipoprotein (LDL) cholesterol
in patients with primary hypercholesterolemia (5/00)
Actimmune
InterMune
Pharmaceuticals Inc.
Chronic granulomatous disease (12/90); treatment
for severe malignant osteopetrosis (2/00)
Avastin
Genentech Inc.
For use in first-line combination treatment in
metastatic colorectal cancer (2/04)
Activase
Genentech Inc.
Acute myocardial infarction (1 1/87); acute pulmonary embolism (6/90); acute ischemic stroke
(6/96); accelerated infusion (4/95); acute ischemic
stroke within three hours of symptom onset (subset
of adults whose strokes are caused by bleeding
are not included in treatment group) (6/96)
Cathflo
Activase
Genentech Inc.
For use in breaking down clots in central venous
catheters (9/01)
Herceptin
Genentech Inc.
Metastatic breast cancer in combination with
paclitaxel as a first-line agent and as single agent
in women who have failed other therapies (9/98)
Humulin
Eli Lilly and Co.
Diabetes (10/82)
Kogenate
Bayer Corp.
Hemophilia A (12/93)
Nutropin AQ
Genentech Inc.
Growth failure associated with chronic renal
insufficiency (1 1/93); growth hormone
inadequacy (1/94); for treating children
whose short stature is caused by growth hormone
inadequacy or by chronic renal insufficiency (1/96);
expanded label to include treatment of short
stature in females with Turner’s syndrome (12/96)
Protropin
Genentech Inc.
Growth hormone inadequacy; growth failure
associated with chronic renal insufficiency (10/85)
Pulmozyme
Genentech Inc.
Cystic fibrosis (12/93); treatment of cystic fibrosis
in severely ill patients (less than 40% lung function)
(12/96); treatment of cystic fibrosis in infants and
young children (3/9)
Genentech Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
373
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Genentech Inc.
Roferon-A
Hoffmann-La Roche
Inc.
Hairy-cell leukemia (6/86); AIDS-related Kaposi’s
sarcoma, Philadelphia chromosome positive chronic
myelogenous leukemia (1 1/88)
TNKase
(tenecteplase)
Genentech Inc.
Single-bolus thrombolytic for the treatment of acute
myocardial infarction; can be administered over five
seconds in a single dose (6/00)
Genentech Inc.
and Tanox Inc.
Xolair
Genentech and
Novartis Pharma AG
Approved for treating asthma (6/03)
Genentech Inc.
and XOMA Ltd.
Raptiva
Genentech
Chronic moderate to severe plaque psoriasis (10/03)
GeneSoft
Factive
Pharmaceuticals Inc.
(merger formed
Oscient
Pharmaceuticals Inc.)
Oscient Pharmaceuticals Community-acquired pneumonia and acute
bacterial exacerbations of chronic bronchitis (4/03)
Genetics
Institute Inc.
(subsidiary of
American Home
Products Corp.)
Neumega
Genetics Institute Inc.
Blood platelet booster (1 1/98)
Recombinate
Baxter International Inc.
Blood clotting Factor VIII for hemophilia A
(12/92)
ReFacto
Genetics Institute
of Wyeth-Ayerst
FDA approved ReFacto for control and prevention
of bleeding and surgical prophylaxis with hemophilia
A patients (3/00)
Procleix HIV-1/
Chiron Corp.
Test to be used to detect human immunodeficiency
Gen-Probe Inc.
virus
HCV Assay and
the Procleix
Semi-Automated
System
Type 1 and hepatitis C virus (2/02)
Gensia
Laboratories Ltd.
(subsidiary of
Gensia Inc.)
Etoposide
Injection
Gensia
Laboratories Ltd.
Treatment of small-cell lung cancer and
refractory testicular tumors (7/96)
Genta Inc.
Ganite
Genta Inc.
Cancer-related hypercalcemia (9/03)
Genzyme Corp.
Aldurazyme
and BioMarin
Pharmaceutical Inc.
Clolar
Fabrazyme
374
Genzyme and BioMarin Mucopolysaccharidosis-1 (4/03)
Genzyme Corp.
For treating children with refractory or relapsed
acute lymphoblastic leukemia (12/04)
Genzyme Corp.
Fabry’s disease (4/03)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Genzyme Corp.
Autologous cultured chondrocytes to repair
knee cartilage damage (8/97)
Genzyme Corp.
Type I Gaucher’s disease (4/91)
Cerezyme
Genzyme Corp.
Type I Gaucher’s disease (5/94)
Seprafilm
Genzyme Corp.
To reduce postsurgical adhesions following
open abdominal or pelvic surgery (8/96)
Thyrogen
Knoll Pharmaceutical
Co.
Follow-up diagnostic for patients who have been
treated for thyroid cancer (12/98)
Truvada
Gilead Sciences Inc.
The Emtriva-Viread combination product
was approved for use in HIV regimens (8/04)
Emtriva
Gilead Sciences
Approved for treating HIV (7/03)
AmBisome
Fujisawa Healthcare
Inc.
Label expansion for injectable liposomal
formulation of aphotericin B for treatment of
cryptococcal meningitis in HIV-infected
patients (7/00)
Hepsera
Gilead Sciences Inc.
Chronic hepatitis B (9/02)
Tamiflu
Hoffmann-La
Roche Inc.
Influenza A and B (10/99); flu prevention (1 1/00);
influenza for children ages 1 to 12 (12/00)
Viread
Gilead Sciences Inc.
HIV (10/01)
Vistide
Pfizer Inc.
To delay progression of cytomegalovirus retinitis
in AIDS patients (6/96)
Guilford
Pharmaceuticals
Inc. (merged with
MGI Pharma Inc.)
Gliadel
Rhone-Poulenc Rorer
Inc.
For use as adjunct to surgery to prolong survival
of patients with recurrent glioblastoma multiforme
(second-line therapy) (9/96); first-line therapy in
high-grade malignant glioma (2/03)
IDEC
Pharmaceuticals
Corp. (merged with
Biogen Inc.) and
Genentech Inc.
Rituxan
IDEC
Pharmaceuticals
Corp. and
Genentech Inc.
Monoclonal antibody for low-grade non-Hodgkin’s
lymphoma recurrences (1 1/97); for retreatment after
a prior course of Rituxan therapy, doubling of infusions
and treatment of bulky disease, or tumors greater
than 10 centimeters, for patients with relapsed or
refractory, low-grade or follicular, CD20-positive
B-cell non-Hodgkin’s lymphoma (5/01)
IDEC
Pharmaceuticals
Corp. (merged
with Biogen Inc.)
Zevalin
IDEC
Pharmaceuticals
Corp.
Non-Hodgkin’s lymphoma (2/02)
Genzyme Corp.
Carticel
and BioMarin
Pharmaceutical Inc.
Ceredase
Gilead Sciences
Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
375
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
IGEN Inc.
—
—
Test for detection and quantitation of residual DNA
in biopharmaceutical products
ILEX Oncology Inc. Campath
and Millennium
Pharmaceuticals Inc.
Berlex Laboratories
Inc.
Leukemia (5/01)
ImClone Systems
Inc.
Erbitux
Bristol-Myers
Squibb Co.
For patients with metastatic colorectal cancer who are
refractory to or intolerant of irinotecan (2/04)
Immunex Corp.
(acquired by
Amgen Inc.)
Enbrel
Wyeth and Amgen Inc.
Rheumatoid arthritis (10/98); severely active
polyarticular-course juvenile rheumatoid
arthritis (5/99); early stage rheumatoid arthritis (6/00);
psoriatic arthritis (1/02); improving physical function
in patients with moderately to severely active RA
(8/03); expanded label in psoriatic arthritis (8/03)
ankylosing spondylitis (10/03); chronic, moderate to
severe plaque psoriasis (4/04); to induce a major
clinical response in RA patients (9/04)
Etoposide
Injection
SuperGen Inc.
Treatment of refractory testicular tumors and smallcell lung cancer (3/96)
Leukine
Immunex Corp.
Neutropenia resulting from chemotherapy in acute
myelogenous leukemia (9/95); bone marrow transplant engraftment or failure (1 1/95); peripheral
blood stem cell mobilization (12/95); to stimulate
production of white blood cells in patients undergoing bone marrow and peripheral blood progenitor
cell transplants and for treating chemotherapyinduced neutropenia (1 1/96)
Novantrone
Immunex Corp.
Treatment of hormone-refractory prostate cancer
(in combination with steroids) (1 1/96); secondary
progressive relapsing-remitting multiple sclerosis
(10/00)
Immunomedics
Inc.
CEA-Scan
Mallinckrodt Inc.
In vivo diagnostic imaging agent to determine site
and extent of colorectal cancer (for use in
conjunction with standard diagnostic tests) (7/96)
Indevus
Pharmaceuticals
Inc.
Sanctura
Indevus Pharmaceuticals For treating overactive bladder (5/04)
Inc. and Pliva d.d.
InKine
Visicol
Pharmaceutical
Co. Inc. (acquired
by Salix
Pharmaceuticals Inc.)
376
InKine Pharmaceuticals Bowel cleansing for colonoscopy (9/00); new, smaller
Visicol tablet formulation that contains less microcrystalline cellulose for bowel cleansing prior to
colonoscopy (3/02)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Inspire
Pharmaceuticals
Inc.
Elistat
Inspire Pharmaceuticals Persistent itching associated with allergic
conjuctivitis (10/03)
Integra
LifeSciences
Corp.
Artificial Skin
Dermal
Regeneration
Template
Integra
LifeSciences
Corp.
Treatment of full-thickness or deep partialthickness burns where conventional autograft is
not available or desirable (to regenerate body’s own
dermis) (3/96)
DuraGen
DuralGraft
Matrix
Integra
LifeSciences
Corp.
Dural closure in neurological procedures (7/99)
Interferon
Sciences Inc.
Alferon N
Injection
The Purdue
Frederick Co.
Genital warts (10/89)
Isis
Pharmaceuticals
Inc.
Vitravene
CIBA Vision Corp.
Treatment of cytomegalovirus retinitis in AIDS
patients (8/98)
ISTA
Pharmaceuticals
Inc.
Istalol
ISTA Pharmaceuticals
Inc.
For treating glaucoma (6/04)
Vitrase
ISTA Pharmaceuticals
Inc.
For use as a spreading agent to facilitate the
dispersion and absorption of other drugs (5/04)
Ontak
Ligand
Persistent or recurrent cutaneous T-cell lymphoma
whose cells express the CD25 component of the
IL-2 receptor (2/99)
Panretin
Gel
Integrated
Commercialization
Solutions
Dermal lesions in AIDS-related Kaposi’s
sarcoma (2/99)
Simulect
Novartis AG
Acute rejection episodes in renal transplants
(5/98)
Targretin
Ligand
Refractory cutaneous T-cell lymphoma (12/99);
cutaneous lesions in patients with early stage
cutaneous T-cell lymphoma who have refractory
or persistent disease after other therapies or who
have not tolerated other therapies (6/00)
ICOS Corp. and
Eli Lilly and Co.
Cialis
ICOS and Lilly
Erectile dysfunction (1 1/03)
MedImmune
Inc.
CytoGam
Connaught
Laboratories Inc.
Prevention of cytomegalovirus in kidney transplant
patients (1 1/91); prophylaxis against CMV disease
associated with kidney, lung, liver, pancreas and
heart transplants (12/98)
Ligand
Pharmaceuticals
Inc.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Indication (U.S. Approval Date)
377
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
MedImmune
Inc.
RespiGam
American Home
Products Corp.
(NYSE:AHP)
Prevention of respiratory syncytial virus in children
under 24 months of age with bronchopulmonary
dysplasia or a history of premature birth (1/96)
Synagis
MedImmune Inc. and
Abbott Laboratories
Prevention of respiratory syncytial virus in children
and infants (6/98); new labeling for use in children
with congenital heart disease (9/03); new liquid
formulation approved (7/04)
FluMist
MedImmune Inc.
Vaccine approved for influenza (6/03)
MGI Pharma
Inc. and Helsinn
Healthcare SA
Aloxi
MGI Pharma
Nausea and vomiting associated with chemotherapy
(7/03)
Millennium
Pharmaceuticals
Inc.
Velcade
Millennium
Pharmaceuticals
Multiple myeloma (5/03)
Nabi
Nabi-HB
Biopharmaceuticals
and
Cangene Corp.
N/A
Hepatitis B (3/99)
NaPro BiotheraPaclitaxel
peutics Inc., Abbott injection
Laboratories and
Bristol-Myers Squibb
Co.
NaPro Biotherapeutics
Inc. and Abbott
Laboratories
For metastatic cancer of the ovary after the failure of
first-line or subsequent chemotherapy and for metastatic breast cancer after the failure of combination
chemotherapy for metastatic disease (5/02)
Nektar
Therapeutics Inc.
Somavert
Pharmacia Corp.
For treating acromegaly (3/03)
NeoRx Corp.
Verluma
Dupont Merck
Pharmaceuticals Inc.
(Joint venture of E.I.
Dupont & Co. and
Merck & Co. Inc.)
In vivo diagnostic imaging agent used to determine
extent of disease in patients diagnosed with smallcell lung cancer (8/96)
Neurobiological
Technologies Inc.
Namenda
Forest
Laboratories Inc.
Moderate to severe Alzheimer’s disease (10/03)
Nexell
Therapeutics
Inc.
Isolex 300/
Isolex 300i
Nexell
Therapeutics
Inc.
Ex vivo stem cell selection for patients
undergoing high-dose chemotherapy and
bone marrow transplants (7/99)
NeXstar
Pharmaceuticals
Inc. (acquired by
Gilead Sciences Inc.)
DaunoXome
Swedish Orphan
AB
First-line therapy for Kaposi’s sarcoma in AIDS
patients (4/96)
378
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
North American
Vaccine
Certiva
Abbott Laboratories
Inc.
Combined diphtheria, tetanus and acellular
pertussis vaccine (8/98)
Novo Nordisk A/S
Norditropin
Novo Nordisk A/S
Human growth hormone deficiency in children (5/95);
recombinant somatropin (human growth hormone) for
long-term treatment of children who have growth failure
due to inadequate secretion of endogenous growth
hormone (6/00)
Novolin
Novo Nordisk A/S
Insulin-dependent diabetes mellitus (7/91)
NovoSeven
Novo Nordisk A/S
Bleeding episodes in hemophiliacs (3/99)
Nycomed
Amersham plc
EchoSeed
Nycomed Amersham
plc
Prostate cancer (6/01)
Octapharma AG
Octagam
Octapharma AG
For treating primary immunodeficiency diseases
(5/04)
OraPharma Inc.
Arestin
OraPharma Inc.
Adjunct treatment for periodontitis following
scaling and root planing (2/01)
Organogenesis
Inc.
Apligraf
Novartis AG
Venous leg ulcers (5/98); living, bi-layered skin
substitute for use in the treatment of diabetic foot
ulcers (6/00)
Orphan Medical
Inc.
Xyrem
Orphan Medical Inc.
For cataplexy associated with narcolepsy (7/02)
Ortec International Composite
Inc.
cultured skin
(OrCel)
Ortec International
Inc.
For use in patients with recessive dystrophic
epidermolysis bullosa undergoing hand reconstruction surgery; also for covering donor sites (2/01);
for healing donor site wounds in burn victims
(9/01)
Ortho Biotech Inc.
(unit of Johnson &
Johnson)
Orthoclone
OKT3
Ortho Biotech Inc.
Reversal of acute kidney rejection (6/86); reversal
of heart and liver transplant rejection (6/93)
OSI
Pharmaceuticals
Inc. and
Genentech Inc.
Tarceva
Genentech Inc.
For treating advanced or metastatic non-small-cell
lung cancer in those who have failed at least
one chemotherapy regimen (1 1/04)
Pharmacia Corp.
(unit of Pfizer Inc.)
Genotropin
Pharmacia & Upjohn
Growth hormone deficiency in children (8/95)
Fragmin
Pharmacia & Upjohn
Prevention of deep-vein thrombosis following
hip replacement surgery (3/99); unstable
angina and non-Q-wave myocardial infarction (5/99)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
379
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Pharmion Corp.
Vidaza
Pharmion Corp.
For treating all five subtypes of myelodysplastic
syndrome (5/04)
PhotoCure ASA
Metvix PDT
PhotoCure ASA
For premalignant skin changes or actinic keratosis
(9/02)
Praecis
Pharmaceuticals
Inc.
Plenaxis
Praecis Pharmaceutials
Palliative treatment of prostate cancer (1 1/03)
ProCyte Corp.
Iamin Gel
Kissei Pharmaceutical
Co.
Wound dressing and management (2/96)
OsmoCyte
ProCyte Corp.
Ultra Pillow
Wound Dressing
Dressing for a variety of exudating chronic and
acute wounds (both infected and noninfected) (12/96)
CroFab
Protherics plc
FDA approved CroFab, an antivenom to treat
rattlesnake bites (12/00)
DigiFab
Protherics plc
Digoxin toxicity (9/01)
Photofrin
Sanofi Winthrop
Inc.
Advanced throat cancer (12/95)
Visudyne
CIBA Vision Corp./
Novartis Ophthalmics
Wet age-related macular degeneration (4/00);
the form of class subfoveal choroidal neovascularization that occurs in people 30 and
older (8/01)
Repligen Corp.
SecreFlo
Repligen Corp.
To stimulate pancreatic secretions to aid in the
diagnosis of pancreatic exocrine dysfunction,
or chronic pancreatitis, and stimulation of
gastrin secretion to aid in the diagnosis of
gastrinoma (4/02); to aid in the location and
cannulation of the pancreatic ducts in patients
undergoing ERCP (1 1/02)
Santarus Inc.
Zegerid
Santarus Inc.
For treating gastrointestinal bleeding in critically
ill patients and for short-term treatment of active
benign gastric ulcers (12/04)
Rapinex
Santarus Inc.
For treating heartburn and related symptoms (6/04)
Scios Inc.
(acquired by
Johnson & Johnson)
Natrecor
Scios Inc.
Acute congestive heart failure (8/01)
Sepracor Inc.
Lunesta
Sepracor Inc.
For treating insomnia (12/04)
Protherics plc
QLT Phototherapeutics Inc.
380
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Sepracor Inc.
Xopenex
Sepracor Inc.
Treatment and prevention of bronchospasm
(3/99); for treatment or prevention of bronchospasm in children ages 6 to 1 1 years old with
reversible obstructive airway disease, such as
asthma (1/02)
Sequus
Pharmaceuticals
Inc. (acquired by
Alza Corp.)
Amphotec
(aka Amphocil)
Sequus
Pharmaceuticals
Inc.
Invasive aspergillosis infections (2nd-line therapy)
(1 1/96)
Doxil
Sequus
Pharmaceuticals
Inc.
Refractory AIDS-related Kaposi’s sarcoma
(1 1/95)
Luveris
Serono SA
For use with Gonal-f to stimulate follicular
development in infertile hypogonadotropic
hypogonadal women (10/04)
Fertinex
Serono
Laboratories Inc.
Infertility treatment (8/96); hormone deficiency
(10/96)
Gonal-F
Serono SA
Recombinant follicle-stimulating hormone for
treatment of infertility in men and women (6/00);
multi-dose for infertility (3/01)
Ovidrel
Serono SA
Infertility due to anovulation and promote final
egg maturation in ovaries of women undergoing
assisted reproductive technologies (10/00)
Rebif
Serono SA
For relapsing forms of multiple sclerosis (3/02)
Saizen
Serono
Laboratories Inc.
Growth hormone deficiency in children (10/96);
adult growth hormone deficiency (8/04)
Serostim
Serono SA
FDA granted full approval for treating AIDS wasting
(10/03); approved for short bowel syndrome (12/03)
SkyePharma plc
Solaraze
SkyePharma plc
Actinic keratosis (10/00)
SuperGen Inc.
Daunorubicin
SuperGen Inc.
Acute leukemia (1 1/01)
Mitozytrex
SuperGen Inc.
For disseminated adenocarcinoma of the stomach
or pancreas in proven combination with other
approved chemotherapuetic agents (1 1/02)
Copaxone
Teva
Pharmaceutical
Industries Ltd.
To reduce flare-ups in relapsing multiple
sclerosis (12/96)
Serono SA
Teva
Pharmaceutical
Industries Ltd.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
381
Biotechnology Products On The Market
Company*
Product
Marketer
Indication (U.S. Approval Date)
Texas
Biotechnology
Corp.
Argatroban
(formerly
Novastan)
GlaxoSmithKline plc
Anticoagulant for prevention of treatment of
thrombosis associated with heparin-induced
thrombocytopenia (6/00); patients with heparininduced thrombocytopenia undergoing percutaneous coronary interventions (4/02)
The Liposome
Co. Inc. (acquired
by Elan Corp plc)
Abelcet
The Liposome Co.
Aspergillosis in those unable to take conventional
drug (1 1/95); treatment of all types of confirmed
or suspected invasive fungal infections (especially
candidiasis) as 2nd-line therapy (10/96); severe
systemic fungal infections (9/99)
The Medicines
Co.
Angiomax
Innovex Inc.
Unstable angina (12/00)
Trimeris Inc.
Fuzeon
Trimeris and
Hoffmann-La Roche
Inc.
For use in combination HIV regimens (3/03)
United
Remodulin
Therapeutics Corp.
United Therapeutics
Corp.
Pulmonary arterial hypertension (5/02)
U.S. Bioscience
Inc. (acquired
by MedImmune Inc.)
Alza Corp.;
Southern Research
Institute
To reduce kidney toxicity after chemotherapy
for advanced ovarian cancer (12/95); to reduce the
cumulative kidney toxicity of cisplatin in patients
undergoing chemotherapy for non-small-cell lung
cancer (3/96); moderate-to-severe post-operative,
radiation-induced xerostomia in patients undergoing radiation treatment for head and neck
cancer (6/99)
Vernalis Group plc Frovatriptan
Elan Corp. plc
For the acute treatment of migraine (1 1/01)
Vertex
Pharmaceuticals
Inc.
Lexiva
Vertex and
GlaxoSmithKline plc
For treating HIV infection in adults in combinanaton
with other antiretroviral drugs (10/03)
Vertex
Pharmaceuticals
Inc.
Agenerase
GlaxoSmithKline plc
HIV infection in children ages 4 and older and
in twice-daily dosage with other antiretrovirals for HIV infection (4/99)
Vysis Inc.
UroVysion
Vysis Inc.
Monitoring recurrence of bladder cancer (8/01)
Wyeth-Ayerst
Laboratories
Rapamune
Wyeth-Ayerst
Laboratories
Prevention of organ rejection following renal
transplantation (9/99)
382
Ethyol
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Biotechnology Products On The Market
Notes:
This chart is a broad overview of biotech and biotech-related products on the market in the U.S. and covers products
approved through 2004. Products on the market that were approved in 2005 are listed in the previous chart. Not all of
the companies represented are biotechnology firms. Large pharmaceutical companies are included when the products
they developed represented breakthroughs in the area and/or where biotech companies were developing competing
products.
*Unless otherwise noted, companies were the original firms that obtained approval.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
383
FDA Actions On Pending Applications In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Adolor Corp.
(ADLR) and
GlaxoSmithKline
plc (UK)
Entereg
Alvimopan capsules;
mu opioid antagonist
Post-operative
ileus
The FDA issued an approvable
letter saying additional proof of
efficacy was needed to support
the NDA filed in June 2004 (7/22)
Alkermes Inc.
(ALKS) and
Cephalon Inc.
(CEPH)
Vivitrol
(formerly
Vivitrex)
Long-acting, injectable
form of naltrexone
Alcohol
dependence
The FDA issued an approvable letter, which calls only for labeling
discussions and delivery of
certain preclinical pharmacokinetic data (12/28)
Alkermes Inc.
(ALKS) and
Johnson &
Johnson
Risperdal
Risperidone formulated
Consta
in Alkermes’ long-acting
(FDA-approved) Medisorb technology
Psychosis of
Alzheimer’s
disease
The FDA issued J&J a not-approvable letter on the supplemental
NDA filing (5/26)
Avanir
Pharmaceuticals
Inc. (AMEX:AVN)
Neurodex
Pseudobulbar
affect
Action on the NDA filed in June
will be delayed following the
FDA’s request for additional
information (9/22)
Celgene Corp.
(CELG)
Thalomid
Thalidomide
(FDA-approved)
Multiple
myeloma
The FDA issued an approvable
letter on the supplemental NDA,
requesting revised labeling and
updated safety and some additional patient information (1 1/15)
Cephalon
Inc. (CEPH)
Actiq
Oral transmucosal
(FDA-approved) fentanyl citrate; sugarfree formulation
Pain in
cancer patients
The FDA approved the sugar-free
formulation of the alreadyapproved drug (9/12)
Cephalon
Inc. (CEPH)
Sparlon
Attention
deficit/
hyperactivity
disorder
Received an approvable letter
from the FDA on supplemental
NDA filed in December 2004
(10/21)
Chiron Corp.
(CHIR)
Fluvirin
Influenza vaccine
(FDA-approved)
Influenza
The FDA OK’d Chiron’s manufacturing facility in the UK, allowing
the company to provide the vaccine for the 2005-06 flu season
(8/31)
Chiron Corp.
(CHIR)
Pulminiq
For use in
patients getting
lung transplants
The FDA said the product was
approvable but that an additional
trial was needed to confirm efficacy (7/15)
384
Oral combination of
dextromethorphan and the
enzyme inhibitor quinidine
New formulation and
dosage of modafinil, the
active ingredient in the
approved product Provigil
Cyclosporine inhalation
solution
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
FDA Actions On Pending Applications In 2005
Company*
(Symbol)
Product
Critical
Therapeutics
Inc. (CRTX)
Description
Indication
Action/Date
Zyflo
Zileuton tablets;
(FDA-approved) 5-lipoxygenase inhibitor
Asthma
The FDA approved supplemental
NDA covering new manufacturing
process (9/28)
Discovery
Laboratories
Inc. (DSCO)
Surfaxin
Respiratory
distress
syndrome in
premature infants
The FDA said Discovery needed
to provide more information in its
response letter to the approvable
letter received in February (8/15);
the questions center on chemistry and manufacturing (8/19)
Enzon
Pharmaceuticals
Inc. (ENZN)
Oncaspar
PEG-enhanced version of
(FDA-approved) the naturally occurring
enzyme L-asparaginase
Acute
lymphoblastic
leukemia
The FDA approved a labeling
change for the pediatric drug,
allowing for administration via
the intravenous route; it had been
approved for intramuscular injection (1 1/10)
Inex
Pharmaceuticals
Corp. (Canada;
TSE:IEX) and
Enzon
Pharmaceuticals
Inc. (ENZN)
Marqibo
(Onco TCS)
Vincristine encapsulated in
Inex’s TCS (liposomal) drug
delivery technology
Non-Hodgkin’s
lymphoma
The FDA said the product was
not approvable; the move followed an FDA panel’s recommendation against approval in
December (1/19)
Inspire
Pharmaceuticals
Inc. (ISPH)
Diquafosol
tetrasodium
Ophthalmic solution;
P2Y2 receptor agonist
Dry-eye disease
The FDA issued a second approvable letter, saying trials failed to
demonstrate efficacy (12/2)
La Jolla
Pharmaceutical
Co. (LJPC)
Riquent
Abetimus sodium; B-cell
toleragen; designed to
reduce levels of antibodies
to double-stranded DNA
Lupus
The FDA, which had issued an
approvable letter in October 2004
calling for more trials, said the
drug was unlikely to gain accelerated approval (3/14)
Maxim
Pharmaceuticals
Inc. (MAXM)
Ceplene
Histamine dihydrochloride
in combination with
interleukin-2
Acute myeloid
leukemia
FDA said another Phase III trial
would be necessary before Maxim
could apply for regulatory
approval (1/18)
MGI Pharma
Inc. (MOGN) and
SuperGen
Inc. (SUPG)
Dacogen
Decitabine for injection;
a hypomethylating agent
Myelodysplastic
syndromes
FDA issued approvable letter that
calls for review of transfusion
requirements from Phase III trial,
labeling discussions and certain
data submission (9/1)
Engineered version of
natural human lung
surfactant
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
385
FDA Actions On Pending Applications In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Nektar
Therapeutics
Inc. (NKTR)
Exubera
Dry-powder, inhaled
insulin formulation that
uses Nektar technology
Type I and II
diabetes
The FDA told partners SanofiAventis SA and Pfizer Inc. that it is
extending the NDA review date to
review additional chemistry data
(10/30)
Neurobiological
Technologies
Inc. (NTII)
Namenda
Memantine; NMDA
(FDA-approved) receptor antagonist
Alzheimer’s
disease
The FDA issued partner Forest
Laboratories Inc. a non-approvable letter on supplemental NDA
to expand the label to include
treatment of mild AD (7/25)
Noven
Pharmaceuticals
Inc. (NOVN)
—
Generic fentanyl
transdermal system
Pain
The FDA stopped its review on
abbreviated NDA, saying it would
not approve the product (9/28)
Penwest
Pharmaceuticals
Co. (PPCO)
PW2101
Low-dose formulation
of a beta blocker
Hypertension
and angina
The FDA issued a non-approvable
letter on the NDA, partly due to
kinetic variability and beta blockade as a surrogate for efficacy
was not demonstrated; Penwest
is dropping the compound (6/29)
SuperGen
Inc. (SUPG)
Orathecin
Rubitecan; topoisomeraseI inhibitor in capsule
formulation
Pancreatic
cancer
SuperGen withdrew NDA filing
after learning package would not
be sufficient to gain approval
(1/3)
Vicuron
Pharmaceuticals
Inc. (MICU)
Dalbavancin
Glycopeptide agent from
the same class as
vancomycin
Complicated skin
and soft-tissue
infections
The FDA said it would extend its
review date on the NDA for three
months; action now was expected
by Sept. 21, 2005 (5/1 1)
Notes:
BLA = Biologics license application; FDA = Food and Drug Administration; IND = Investigational new drug application;
NDA = New drug application.
Unless otherwise noted, the stock symbols listed for public companies are on the Nasdaq market.
TSE = Toronto Stock Exchange.
386
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Licensing Applications Filed And Pending At FDA In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Avanir
Pharmaceuticals
Inc. (AMEX:AVN)
Neurodex
Oral combination of
dextromethorphan and the
enzyme inhibitor quinidine
Pseudobulbar
affect
The company submitted the final
modules of its rolling NDA filing
(6/30)
Barrier
Therapeutics
Inc. (BTRX)
Sebazole
Topical formulation of 2%
ketoconazole, an antifungal
agent
Seborrheic
dermatitis
The FDA accepted for filing the
NDA submission; the NDA was
submitted in September (12/9)
BioDelivery
Sciences
International
Inc. (BDSI)
Emezine
Formulation of the
approved agent
prochlorperazine
Nausea and
vomiting
The FDA accepted for review the
NDA, which was filed in April
(7/20)
Biogen Idec
Inc. (BIIB) and
Elan Corp.
plc (Ireland)
Tysabri
Natalizumab; humanized
monoclonal antibody that
inhibits adhesion molecules
on immune cells
Multiple
sclerosis
They filed a supplemental BLA
with the FDA; the product was
taken off the market in February
due to safety concerns (9/26); the
FDA accepted the sNDA and designated it for priority review; the
sNDA for market re-entry was
filed in September (1 1/17)
BioMarin
Pharmaceutical
Inc. (BMRN)
Orapred ODT
Prednisolone sodium
phosphate tablets; new
formulation of Orapred
Inflammation
reduction
The FDA accepted for filing the
NDA for Orapred; the NDA was
filed in August; the PDUFA date
is June 1, 2006 (10/19)
Centocor Inc.
(unit of Johnson
& Johnson)
Remicade
Infliximab; monoclonal
(FDA-approved) antibody that targets tumor
necrosis factor-alpha
Plaque
psoriasis
FDA accepted supplemental BLA
filing, which seeks approval for
treating moderate to severe
plaque psoriasis (1 1/7)
Cephalon
Inc. (CEPH)
OraVescent
Fentanyl
Fentanyl formulated
with transmucosal
delivery technology
Breakthrough
cancer pain
Filed NDA with FDA seeking
approval for managing pain in
patients already receiving opioid
therapy (9/6)
Cephalon
Inc. (CEPH)
Nuvigil
Armodafinil; single isomer
of the active ingredient in
Provigil (modafinil)
Excessive
sleepiness
Filed NDA with FDA seeking approval for improving wakefulness
associated with narcolepsy, shiftwork sleep disorder and obstructive sleep apnea/hypopnea syndrome (3/31)
CollaGenex
Pharmaceuticals
Inc. (CGPI)
Oracea
Non-antimicrobial
tetracycline derivative
Rosacea
The FDA accepted for review the
NDA, which was filed in August
(10/3)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
387
Licensing Applications Filed And Pending At FDA In 2005
Company*
(Symbol)
Product
Cubist
Pharmaceuticals
Inc. (CBST)
Indication
Action/Date
Cubicin
Daptomycin for injection;
(FDA-approved) a bactericidal antibiotic
Bacteremia
The FDA accepted and granted
priority-review status to sNDA
seeking approval to treat bacteremia with known or suspected
endocarditis caused by Staphylococcus aureus; the supplemental
application was filed in September (1 1/21)
CV
Therapeutics
Inc. (CVTX)
Ranexa
(ranolazine)
Partial inhibitor of fattyacid oxidation
Chronic
angina
Submitted amendment to the
NDA, based on results of ERICA
trial; an approvable letter was
issued in October 2003 (7/27)
Discovery
Laboratories
Inc. (DSCO)
Surfaxin
Engineered version of
natural human lung
surfactant
Respiratory
distress
syndrome in
premature infants
The FDA accepted resubmission
by Discovery as a complete
response to the approvable letter;
completion of the NDA review is
expected by April 2006 (10/21)
Encysive
Pharmaceuticals
Inc. (ENCY)
Thelin
Sitaxsentan; small
molecule designed to
block endothelin
Pulmonary
arterial
hypertension
The FDA accepted the NDA filing
and designated it for standard
review; the NDA was filed in May
(7/14)
Enzon
Pharmaceuticals
Inc. (ENZN)
Oncaspar
PEG-enhanced version of
(FDA-approved) the naturally occurring
enzyme L- asparaginase
Acute
lymphoblastic
leukemia
The FDA accepted the supplemental BLA filing, which seeks approval
of use of the pediatric product
in first-line treatment (12/1)
Genentech
Inc. (NYSE:DNA)
Lucentis
Genentech
Inc. (NYSE:DNA)
and Biogen
Idec Inc. (BIIB)
Rituxan
Rituximab; antibody that
(FDA-approved) targets and selectively
depletes CD20-positive
B cells
Rheumatoid
arthritis
The FDA accepted for review the
supplemental BLA filed in August
and designated it for priority
review (10/31)
Genentech
Inc. (NYSE:DNA)
and Biogen
Idec Inc. (BIIB)
Rituxan
Rituximab; antibody that
(FDA-approved) targets and selectively
depletes CD20-positive
B cells
Non-Hodgkin’s
lymphoma
The FDA granted priority review
to the BLA filed in August for
previously untreated patients
with intermediate or aggressive,
CD20-positive, B-cell NHL in combination with chemotherapy
(10/25)
388
Description
Ranibizumab; humanized
Wet age-related
antibody fragment designed macular
to bind and inhibit VEGF-A
degeneration
Submitted BLA with the FDA,
seeking approval for treating neovascular wet AMD (12/30)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Licensing Applications Filed And Pending At FDA In 2005
Company*
(Symbol)
Product
Genentech Inc.
(NYSE:DNA)
Description
Indication
Action/Date
Avastin
Bevacizumab; antibody
(FDA-approved) designed to inhibit
vascular endothelial
growth factor
Relapsed,
metastatic
colorectal
cancer
Filed supplemental BLA with the
FDA seeking approval for use
with 5-FU in treating relapsed,
metastatic disease (12/19)
Genta Inc.
(GNTA)
Genasense
Oblimersen sodium;
inhibits function of bcl-2
protein
Advanced
chronic
lymphocytic
leukemia
Filed NDA with FDA seeking
approval of drug with chemotherapy for treating refractory/
relapsed disease (12/29)
Genzyme
Corp. (GENZ)
Myozyme
Recombinant human
acid alpha-lucosidase
enzyme
Pompe disease
Submitted a BLA to the FDA, seeking approval of the product
(7/29)
Gilead
Sciences Inc.
(GILD)
Tamiflu
Oseltamivir; an oral
(FDA-approved) neuraminidase inhibitor
Influenza
Partner Hoffmann-La Roche Inc.
filed a supplemental NDA seeking
to extend the prophylaxis indication to include children ages 1
through 12 (4/18)
GPC Biotech
(Germany;
FSE:GPC)
Satraplatin
Hormonerefractory
prostate cancer
GPC began rolling NDA submission for drug in combination with
prednisone as a second-line
chemotherapy treatment (12/15)
ImClone
Systems Inc.
(IMCL) and
Bristol-Myers
Squibb Co.
Erbitux
Cetuximab; antibody that
(FDA-approved) blocks the epidermal
growth factor receptor
Head and neck
cancer
Filed supplemental BLA seeking
approval for use with radiation in
advanced squamous cell carcinoma of the head and neck and as a
monotherapy in platinum-based
failures (8/30); the FDA accepted
for filing the supplemental BLA
designated it for priority review
(10/31)
InKine
Pharmaceutical
Co. Inc. (INKP)
INKP-102
New-generation sodium
phosphate purgative tablet
Bowel
cleansing prior
to colonoscopy
The FDA accepted for filing the
NDA, which was filed in May
(7/26)
Insmed Inc.
(INSM)
SomatoKine
Composition of insulinGrowth hormone
like growth factor-1 and its
insensitivity
primary binding protein, BP3 syndrome
Company submitted NDA for that
indication for which the product
has orphan status (1/3)
Labopharm
Inc. (Canada;
TSE:DDS)
—
Once-daily formulation of
the analgesic tramadol
Submitted NDA to the FDA seeking approval for the management
of moderate to moderately severe
pain (1 1/30)
Oral platinum compound
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Pain
389
Licensing Applications Filed And Pending At FDA In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
MediGene AG
(Germany; FSE:
MDG)
Polyphenon
E Ointment
Product from green tea
leaves designed to block
virus binding to cells
Genital
warts
The FDA accepted for filing the
NDA on the drug (12/1)
MedImmune
Inc. (MEDI)
CAIV-T
Trivalent vaccine; next
generation of FluMist;
refrigerator-stable
formulation
Influenza
Submitted supplemental BLA
seeking approval in preventing
influenza in healthy people aged
5 to 49 (9/19)
MGI Pharma
Inc. (MOGN) and
SuperGen
Inc. (SUPG)
Dacogen
Decitabine for injection;
a hypomethylating agent
Myelodysplastic
syndromes
The FDA accepted resubmission
of data as a complete response to
approvable letter issued in
September (12/15)
Neurochem
Inc. (Canada;
NRMX)
Fibrillex
Glycosaminoglycan
mimetic with antiamyloid properties
Amyloid A
amyloidosis
Initiated rolling NDA submission
with the FDA; complete filing is
expected around year-end (8/22)
Neurocrine
Biosciences
Inc. (NBIX)
Indiplon
Tablet form of a nonInsomnia
benzodiazepine agent that
targets the GABA-A receptor
The company has completed submission of an NDA with the FDA
for treating insomnia in both
adult and elderly patients (5/26)
Neurocrine
Biosciences
Inc. (NBIX)
Indiplon
Capsule formulation of
a non-benzodiazepine
agent that targets the
GABA-A receptor
Insomnia
The FDA accepted for review the
NDA for treatment of insomnia in
both adult and elderly patients
(7/26)
NPS
Pharmaceuticals
Inc. (NPSP)
Preos
Recombinant human
parathyroid hormone
Osteoporosis
The FDA accepted for review the
NDA for treating osteoporosis in
postmenopausal women; it was
filed in May (7/1 1)
Orphan
Medical Inc.
(ORPH)
Xyrem
Sodium oxybate oral
(FDA-approved) solution
Narcolepsy
Filed supplemental NDA seeking
approval for treating other primary symptoms of narcolepsy,
including excessive sleepiness
(1/18)
Venous
ulcers
The FDA requested a confirmatory
trial to demonstrate safety and
effectiveness (4/29)
Acute bacterial
sinusitis and
communityacquired
pneumonia
Filed supplemental NDA with FDA
seeking approval of five-day
treatment of the drug for both
indications (1 1/21)
Ortec
OrCel
International
Inc. (OTC BB:ORTN)
Oscient
Pharmaceuticals
Corp. (OSCI)
390
Collagen sponge seeded
with allogeneic epidermal
and dermal cells
Factive
Gemifloxacin mesylate; a
(FDA-approved) fluoroquinolone antibiotic
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Licensing Applications Filed And Pending At FDA In 2006
Company*
(Symbol)
Product
Description
Indication
Action/Date
Pozen Inc.
(POZN) and
GlaxoSmithKline
plc (UK)
Trexima
(MT400)
Single-tablet combination
of sumatriptan (5-T1B/1D
agonist) and naproxen
Migraine
NDA filed in August was accepted for review by the FDA (10/1 1)
Prestwick
Pharmaceuticals
Inc.*
Tetrabenazine Dopamine depletor that
works by selectively
blocking the VMAT2
transporter
Chorea
associated with
Huntington’s
disease
Filed NDA with the FDA; the drug
is approved in Europe, Canada
and Australia and has orphan
designation in the U.S. (4/26)
Santarus Inc.
(SNTS)
Zegerid
Immediate-release capsule
formulation of the proton
pump inhibitor omeprazole
Gastrointestinal
disorders
The FDA accepted for filing the
NDA submitted in April, which
seeks approval for treating heartburn and symptoms of other conditions (6/28)
Santarus Inc.
(SNTS)
Zegerid
Tablet formulation of the
proton pump inhibitor
omeprazole
Gastrointestinal
disorders
The FDA accepted for filing the
NDA, which is seeking approval of
the chewable tablet formulation
for treating heartburn and symptoms of other conditions (7/26)
Savient
Pharmaceuticals
Inc. (SVNT)
Soltamox
Tamoxifen oral liquid
solution
Hormonally
sensitive
breast cancer
Filed NDA with the FDA; the drug
is a product of Savient subsidiary
Rosemont Pharmaceuticals Ltd.
(1/6)
Sepracor Inc.
(SEPR)
Arformoterol
Long-acting beta-agonist
formulated for inhalation;
single isomer of formoterol
Chronic
obstructive
pulmonary
disease
Sepracor filed an NDA with the
FDA seeking approval in that indication (12/13)
Sucampo
Pharmaceuticals
Inc.*
Lubiprostone
Agent that activates
specific chloride channels
on cells lining the small
intestine
Chronic
idiopathic
constipation
Filed NDA with the FDA seeking
approval to treat CIC and associated symptoms (4/1)
Trimeris Inc.
(TRMS) and
Hoffmann-La
Roche Inc.
Fuzeon
HIV fusion inhibitor;
(FDA-approved) enfuvirtide
HIV
The FDA accepted the filing of a
supplemental NDA seeking to include the Biojector 2000 needlefree injection device in the labeling
(7/18)
Vicuron
Pharmaceuticals
Inc. (MICU)
Anidulafungin Broad-spectrum agent
from the echinocandin
class
Esophageal
candidiasis
Filed amendment to existing
NDA; amendment in invasive candidiasis/candidemia was expected later (5/31)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
391
Licensing Applications Filed And Pending At FDA In 2005
Company*
(Symbol)
Product
Vicuron
Pharmaceuticals
Inc. (MICU)
Vicuron
Pharmaceuticals
Inc. (MICU)
Description
Indication
Action/Date
Anidulafungin Broad-spectrum agent
from the echinocandin
class
Invasive
candidiasis/
candidemia
Filed NDA with the FDA seeking
approval in that indication (8/18)
Dalbavancin
Complicated
skin and softtissue infections
NDA for the drug filed in December 2004 was granted priorityreview status by the FDA (2/24)
Glycopeptide agent
from the same class as
vancomycin
Notes:
Pending applications on which the FDA took some action are included in a separate chart.
* Privately held.
BLA = Biologics license application; FDA = Food and Drug Administration; IND = Investigational new drug application;
NDA = New drug application; PDUFA = Prescription Drug User Fee Act; sNDA = Supplemental new drug application.
Unless otherwise noted, the stock symbols listed for public companies are on the Nasdaq market.
AMEX = American Stock Exchange; FSE = Frankfurt York Stock Exchange; NYSE = New York Stock Exchange;
OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange.
392
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Products Not Recommended For Approval
By FDA Advisory Panels In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Advanced
Magnetics Inc.
(AMEX:AVM) and
Cytogen Corp.
(CYTO)
Combidex
Molecular imaging
agent
Cancer
diagnosis
An FDA advisory panel voted 15-4
against recommending approval
for differentiating metastatic
from non-metastatic lymph nodes
across all cancer types (3/3)
Chiron Corp.
(CHIR)
Pulminiq
Cyclosporine inhalation
solution
For use in
patients getting
lung transplants
An FDA advisory panel split 8-8
on whether the drug provides a
survival benefit (6/6)
Nektar
Therapeutics
Inc. (NKTR)
Exubera
Dry-powder, inhaled
insulin formulation
that uses technology
from Nektar
Type I and II
diabetes
FDA advisory panel recommended approval of the product,
from Sanofi-Aventis Group and
Pfizer Inc. (9/8)
Noven
Pharmaceuticals
Inc. (NOVN)
Daytrana
Transdermal patch
Attention deficit/
containing methylphenidate hyperactivity
disorder
FDA advisory committee recommended approval of the drug
(12/2)
Pozen Inc.
(POZN)
MT 100
Metoclopramide hydrochloride combined with
naproxen sodium
FDA advisory panel voted that
potential risk for tardive dyskinesia would outweigh benefits; the
FDA issued a not-approvable
letter in June 2004; Pozen ended
development of the drug (8/5)
Migraine
Notes:
Chart does not include recommendations on products that later were acted on by the FDA.
Unless otherwise noted, the stock symbols listed for public companies are on the Nasdaq market.
AMEX = American Stock Exchange.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
393
Overseas Approvals And Actions In 2005
Company*
(Symbol)
Product
Abbott
Laboratories
Indication
Action/Date
Humira
Adalimumab; fully human
(FDA-approved) antibody designed to block
TNF-alpha
Ankylosing
spondylitis
Filed application with European
officials seeking approval in that
indication (10/4)
Abbott
Laboratories
Humira
Adalimumab; fully human
(FDA-approved) antibody designed to
block TNF-alpha
Psoriatic
arthritis and
rheumatoid
arthritis
The product was approved in Europe for treating PA and early RA
(8/15)
Access
Pharmaceuticals
Inc. (AMEX:AKC)
Aphthasol
Product containing
(FDA-approved) amlexanox
Canker sores
The product was approved in 10
European Union countries following completion of the Mutual
Recognition Procedure (3/3)
AEterna
Zentaris Inc.
(Canada; AEZS)
Impavido
Oral miltefosine, an
alkylphospholipid agent
Cutaneous
form of
leishmaniasis
The product was approved in
Colombia; the approval also
applies to the visceral form of
leishmaniasis (3/23)
Alfacell Corp.
(ACEL)
Onconase
Ranpirnase; cytotoxic
ribonuclease
Malignant
mesothelioma
The product was granted orphan
designation in Australia in that
indication (3/28)
Alkermes Inc.
(ALKS) and
Johnson &
Johnson
Risperdal
Risperidone formulated
Consta
in Alkermes’ long-acting
(FDA-approved) Medisorb technology
Schizophrenia
The product was approved in
Italy; it has approval in more than
70 countries (9/15)
Allos
Therapeutics
Inc. (ALTH)
Revaproxyn
(efaproxiral)
Brain
metastases
Withdrew European MAA for use
as an adjunct to whole-brain radiation therapy after regulators
said data were insufficient (10/1 1)
American
Pharmaceutical
Partners Inc.
(APPX)
Abraxane
Paclitaxel protein-bound
(FDA-approved) particles for injection;
albumin-bound
Metastatic
breast cancer
The company filed for approval of
the product in Canada (6/15)
Amgen Inc.
(AMGN)
Kepivance
Palifermin; recombinant
(FDA-approved) human keratinocyte
growth factor
Oral mucositis
in cancer
patients
The product was approved in the
European Union in patients undergoing blood and bone marrow
transplants (10/28)
Amgen Inc.
(AMGN)
Enbrel
Etanercept; anti-tumor
(FDA-approved) necrosis factor-alpha
antibody
Rheumatoid
arthritis
Wyeth and Takeda Pharmaceutical
Co. Ltd. gained approval in Japan
for treating those who inadequately responded to other drugs (1/27)
394
Description
Small molecule designed
to sensitize hypoxic areas
of tumors prior to radiation
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Antigenics Inc.
(AGEN)
Oncophage
Personalized cancer
vaccine based on heatshock protein technology
Renal-cell
carcinoma
The product was granted orphan
status in Europe in that indication
(6/7)
Arexis AB*
(Sweden)
BSSL
Human enzyme-replacement therapy; bile saltstimulated lipase
Fat
malabsorption
in cystic fibrosis
patients
The European Commission granted
orphan status to the drug in that
indication (2/9)
Ariad
Pharmaceuticals
Inc. (ARIA)
AP23573
Oral form of agent
designed to inhibit cellsignaling protein mTOR
Soft-tissue
and bone
sarcomas
The EMEA granted orphan designation to the product in Europe in
those indications (1 1/15)
Ark
Therapeutics
Group plc
(UK; LSE:AKT)
Cerepro
Adenoviral-mediated
gene medicine designed
to induce thymidine
kinase expression
Malignant
glioma
Filed MAA with European regulators; the application was accepted for review (10/28)
Avant Immunotherapeutics
Inc. (AVAN)
Rotarix
Oral, two-dose, live
attenuated vaccine
developed from a single
human strain
Rotavirus
infection
Partner GlaxoSmithKline Biologicals received a positive recommendation from European regulators on marketing application
(12/15)
AVAX
Technologies
Inc. (OTC BB:
AVXT)
M-Vax
Autologous, haptenmodified melanoma
vaccine
Melanoma
The product was approved in
Switzerland, where it will be sold
by Pro Vaccine AG (10/10)
BioAlliance
Pharma SA*
(France)
Miconazole
Lauriad
Oral, bioadhesive buccal
tablet containing the
antifungal miconazole
Oropharyngeal
candidiasis
Filed an MAA in France, initiating
the approval process within the
European Union (10/3)
BioMarin
Pharmaceutical
Inc. (BMRN)
Naglazyme
Galsulfase; an enzyme(FDA-approved) replacement therapy
Mucopolysaccharidosis-VI
A European advisory panel issued
a positive recommendation on
the MAA filing (9/15)
Caprion
Pharmaceuticals
Inc.* (Canada)
caStx1 and
caStx2
Therapeutic monoclonal
antibodies
Shiga-toxin
producing E.
coli infections
The products were granted
orphan drug status in Europe by
the EMEA (12/20)
Celgene Corp.
(CELG)
Revlimid
Lenalidomide; derivative
of Thalomid (thalidomide)
Myelodysplastic
syndromes
The EMEA accepted for review
the MAA filing, which was submitted in August (10/26)
Centocor Inc.
(unit of Johnson
& Johnson)
Remicade
Infliximab; monoclonal
(FDA-approved) antibody that targets tumor
necrosis factor-alpha
Plaque
psoriasis
The product was approved in
Europe for treating moderate to
severe plaque psoriasis (10/6)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
395
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
Cephalon Inc.
(CEPH)
Indication
Action/Date
Vigil
Provigil; modafinil
(FDA-approved)
Shift-work
sleep disorder
The product was approved in Germany for treating the disorder in
in patients working night shifts
(8/30)
Chiron Corp.
(CHIR)
Fluvirin
Influenza vaccine
(FDA-approved)
Influenza
UK officials lifted the license
suspension for Chiron’s Liverpool,
UK, manufacturing facility (3/2)
Chiron Corp.
(CHIR) and
Cubist
Pharmaceuticals
Inc. (CBST)
Cubicin
Daptomycin for injection;
(FDA-approved) a bactericidal antibiotic
Complicated
skin and
soft-tissue
infections
Scientific committee in Europe
issued a positive opinion recommending approval of the marketing application; the MAA was filed
in December 2004 (1 1/17)
CV
Therapeutics
Inc. (CVTX)
Ranexa
(ranolazine)
Partial inhibitor of fattyacid oxidation
Chronic angina
Withdrew MAA filing in Europe
after EMEA requested additional
pharmacokinetic
information;
a resubmission is anticipated
(10/25)
Depomed Inc.
(DEPO) and
Biovail Corp.
(Canada)
Glumetza
Once-daily, extendedrelease formulation of
metformin hydrochloride
Type II diabetes
The product was approved in
Canada; Biovail plans to launch it
there in 4Q:05 (6/1)
Diurnal Ltd.*
(UK)
—
Modified-release
hydrocortisone tablet
Congenital
adrenal
hyperplasia
The product was granted orphan
designation in Europe in that
indication (7/26)
Encysive
Pharmaceuticals
Inc. (ENCY)
Thelin
Sitaxsentan; small
molecule designed to
block endothelin
Pulmonary
arterial
hypertension
Completed submission of MAA
with the EMEA, seeking approval
of the product in Europe (7/28);
the EMEA accepted for review the
MAA (8/17)
Eyetech
Pharmaceuticals
Inc. (EYET)
Macugen
Pegaptanib sodium
(FDA-approved) injection; pegylated
anti-VEGF aptamer
Wet age-related
macular
degeneration
The product was approved in
Canada for treating subfoveal
choroidal neovascularization secondary to neovascular AMD (5/5);
a European advisory panel recommended approval of the drug
(9/16)
Genentech
Inc. (NYSE:DNA),
Tanox Inc.
(TNOX) and
Novartis AG
(Switzerland)
Xolair
Omalizumab; humanized
(FDA-approved) monoclonal antibody to IgE
Asthma
The
European
Commission
approved the product for treating
severe allergic asthma in all 25 EU
member states; Novartis AG will
market it there (10/27)
396
Description
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
Genentech
Inc. (NYSE:DNA)
Description
Indication
Action/Date
Avastin
Bevacizumab; antibody
(FDA-approved) designed to inhibit vascular
endothelial growth factor
Metastatic
colorectal
cancer
F. Hoffmann-La Roche Ltd. gained
approval of the drug in Europe as
part of combination regimen
(1/14)
Generex
Biotechnology
Corp. (Canada;
GNBT)
Oral-lyn
Oral insulin spray
formulation
Type I and II
diabetes
The product was approved in
Ecuador; PharmaBrand SA will
market the product there (5/3)
Genta Inc.
(GNTA)
Genasense
Oblimersen sodium;
inhibits function of bcl-2
protein
Metastatic
melanoma
Filed letter of intent seeking approval of the product in Europe
for use with dacarbazine (6/30)
Genzyme
Corp. (GENZ)
Thyrogen
Thyrotropin alfa for
(FDA-approved) injection; a recombinant
human thyroid-stimulating
hormone
Ablation of
remnant
thyroid tissue
The
European
Commission
approved the product for use
with radio-iodine (3/3)
Gilead
Sciences Inc.
(GILD)
Truvada
Fixed-dose combination
(FDA-approved) of the company’s approved
Viread and Emtriva drugs
HIV
The European Commission approved the drug in all 25 member
states of the European Union for
use in combination regimens
(2/23)
GPC Biotech
AG (Germany;
GPCB)
1D09C3
Anti-major histocompatibility complex Class II
monoclonal antibody
Hodgkin’s
lymphoma
The product was granted orphan
designation in Europe in that indication by the EMEA (6/2)
GTC
Biotherapeutics
Inc. (GTCB)
ATryn
Recombinant human
antithrombin
Hereditary
antithrombin
deficiency
The EMEA had questions on the
MAA, which was filed in February
2004, delaying the expected time
to launch (3/16); EMEA extended
its timeline for reviewing the
MAA until February 2006 (9/16)
GW
Pharmaceuticals
plc (UK; LSE:GWP)
Sativex
Spray formulation of
cannabis extract
Spasticity
in multiple
sclerosis
UK regulators denied an appeal to
allow marketing of the product
without additional trials (6/10)
ImClone
Systems Inc.
(IMCL)
Erbitux
Cetuximab; antibody that
(FDA-approved) blocks the epidermal
growth factor receptor
Advanced
head and neck
cancer
Partner Merck KGaA got approval
of the drug in Switzerland for use
with radiation in previously
untreated, advanced squamous
cell carcinoma of the head and
neck (12/22)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
397
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
ImClone
Systems Inc.
(IMCL) and
Bristol-Myers
Squibb Co.
Indication
Action/Date
Erbitux
Cetuximab; antibody that
(FDA-approved) blocks the epidermal
growth factor receptor
Metastatic
colorectal
cancer
The product was approved in
Canada for use in combination
with irinotecan for treating EGFRexpressing, metastatic, refractory
disease (9/15)
Inex
Pharmaceuticals
Corp. (Canada;
TSE:IEX)
Marqibo
(Onco TCS)
Non-Hodgkin’s
lymphoma
Regulatory officials in Canada issued
letter of noncompliance, similar to
non-approvable letter received
earlier from the FDA (1 1/22)
InKine
Pharmaceutical
Co. Inc. (INKP)
Visicol
Sodium phosphate tablets
(FDA-approved)
For use as a
colonic purgative
Partner Zeria Pharmaceutical Co.
Ltd. filed for approval in Japan for
use as a colonic purgative, bowel
cleansing agent or laxative (3/29)
Javelin
Pharmaceuticals
Inc. (OTC BB:JVPH)
Dyloject
Injectable diclofenac,
an analgesic
Post-surgical
pain
UK regulators accepted for review
the MAA filing (10/24)
Kamada Ltd.*
(Israel)
—
Aerosolized version of its
alpha-1 proteinase inhibitor
product
Congenital
emphysema
The EMEA granted orphan status
to the drug (1/5)
Labopharm
Inc. (Canada;
TSE:DDS)
—
Once-daily formulation of
the analgesic tramadol
Pain
Authorities approved the drug
in France, allowing the company
to begin the mutual recognition
procedure elsewhere in Europe
(1/17); received regulatory approval
under the MRP process, paving
the way for approval in 22 European countries (9/6)
Lorus
Therapeutics
Inc. (Canada;
TSE:LOR)
Virulizin
Immunotherapy agent
designed to stimulate
the immune system
Pancreatic
cancer
The product was granted orphan
status in Europe in that indication
(6/7)
Maxim
Pharmaceuticals
Inc. (MAXM)
Ceplene
Histamine dihydrochloride
in combination with
interleukin-2
Acute
myeloid
leukemia
The product was granted orphan
designation in Europe in that
indication (3/9)
MGI
Pharma
Inc. (MOGN)
Aloxi
Palonosetron hydrochloride
(FDA-approved) injection; a 5-HT3 receptor
antagonist
Nausea and
vomiting in
chemotherapy
patients
Partner Helsinn Healthcare SA
gained approval of the product in
the European Union (4/4)
398
Description
Vincristine encapsulated in
Inex’s TCS (liposomal) drug
delivery technology
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Overseas Actions And Approvals (Continued)
Company*
(Symbol)
Product
Description
Indication
Action/Date
MGI Pharma
Inc. (MOGN) and
SuperGen
Inc. (SUPG)
Dacogen
Decitabine for injection;
a hypomethylating agent
Myelodysplastic
syndromes
Companies withdrew MAA seeking approval in Europe after
determining additional clinical
data would be required (1 1/15)
Millennium
Pharmaceuticals
Inc. (MLNM)
Velcade
Bortezomib; proteasome
(FDA-approved) inhibitor
Multiple
myeloma
Partner Ortho Biotech gained
approval of the drug in Europe for
use in second-line treatment (4/28)
Myogen Inc.
(MYOG)
Ambrisentan
Type-A selective endothelin receptor antagonist
Pulmonary
arterial
hypertension
The product was granted orphan
designation in Europe for PAH and
chronic thromboembolic pulmonary hypertension (5/2)
Nabi Biopharmaceuticals
(NABI)
Civacir
Antibody-based hepatitis
C immune globulin
Hepatitis C
The product was granted orphan
status in Europe for preventing
recurrent HCV-induced liver disease in liver transplant recipients
(6/22)
Nabi Biopharmceuticals
(NABI)
StaphVAX
Staphylococcus aureus
polysaccharide conjugate
vaccine
To prevent
S. aureus
bacteremia
The MAA was accepted for review
by EMEA; Nabi is seeking approval
in Europe to prevent bacteremia
in patients with end-stage renal
disease on hemodialysis (1/26)
Nektar
Therapeutics
Inc. (NKTR)
Exubera
Dry-powder, inhaled
insulin formulation that
uses Nektar technology
Type I and II
diabetes
Sanofi-Aventis SA and Pfizer Inc.
received a positive opinion on
approval from regulators in
Europe (10/13)
Neutec Pharma
plc (UK; LSE:NTP)
Mycograb
Agent based on naturally
occurring antibody
against hsp90
Invasive
candidiasis
Began marketing application process in Europe for use in combination with amphotericin-B (3/14)
NPS
Pharmaceuticals
Inc. (NPSP)
Preotact
(Preos)
Recombinant human
parathyroid hormone
Osteoporosis
Partner Nycomed Group submitted an MAA in Europe seeking
approval for treating postmenopausal osteoporosis (3/1 1)
Nuvelo Inc.
(NUVO)
Alfimeprase
Modified fibrolase
delivered via catheter;
thrombolytic agent
Acute
peripheral
arterial occlusion
The EMEA granted orphan designation to the product in Europe
(1 1/8)
Onyx
Pharmaceuticals
Inc. (ONXX)
and Bayer
Pharmaceuticals
Corp.
Sorafenib
RAF kinase and VEGF
(BAY 43-9006) inhibitor
Advanced
kidney cancer
They filed an MAA seeking
approval of the product in Europe
(9/12)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
399
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
OSI
Pharmaceuticals
Inc. (OSIP) and
Genentech
Inc. (NYSE:DNA)
Indication
Action/Date
Tarceva
Erlotinib HCl; small(FDA-approved) molecule HER1/EGFR
inhibitor
Pancreatic
cancer
Partner F. Hoffmann-La Roche
Ltd. filed for approval of the drug
in Europe (1 1/3)
OSI
Pharmaceuticals
Inc. (OSIP) and
Genentech
Inc. (NYSE:DNA)
Tarceva
Erlotinib HCl; small(FDA-approved) molecule HER1/EGFR
inhibitor
Advanced
non-small-cell
lung cancer
The product was approved in
Switzerland for treating locally
advanced or metastatic disease;
F. Hoffmann-La Roche Ltd. has
marketing rights in Europe (3/22);
product was approved in Canada
for treatment following failure of
first- or second-line chemotherapy
(7/13); partner F. Hoffmann-La
Roche Ltd. gained approved of the
drug in Europe for use after failure
of at least one chemotherapy
regimen (9/21)
Pharmion
Corp. (PHRM)
Vidaza
Azacitidine for injectable
(FDA-approved) suspension; believed to
have demethylation and
cytotoxic actions
Myelodysplastic
syndromes
Withdrew MAA filing in Europe
after learning regulatory authorities will require additional data
(1 1/17)
Pozen Inc.
(POZN)
MT 100
Migraine
The product was approved in the
UK for the acute treatment of
migraine; a partner there is being
sought (1 1/28)
Praecis
Pharmaceuticals
Inc. (PRCS)
Plenaxis
Abarelix for injection,
(FDA-approved) depot formulation;
gonadotropin-releasing
hormone antagonist
Prostate
cancer
The drug was approved in Germany to initiate hormonal castration in patients with advanced,
hormone-dependent disease, if
androgen suppression is appropriate (9/28)
Protherics plc
(UK; LSE:PTI)
Voraxaze
Product containing the
recombinant enzyme
glucarpidase
Toxicity from
methotrexate
The company submitted an MAA
seeking approval of the product
in Europe (7/28)
PTC
Therapeutics
Inc.*
PTC124
Oral agent that targets
nonsense mutations
Duchenne’s
muscular
dystrophy and
cystic fibrosis
The EMEA granted orphan designation to the product in Europe in
both indications (7/7)
400
Description
Sequential-release tablet
containing naproxen and
metoclopramide
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Revotar Biophar- Bimosiamose
maceuticals Inc.*
(Germany; majorityowned by Encysive
Pharmaceuticals
Inc.; ENCY)
Topical formulation of
pan-selectin antagonist
Acute lung
injury
The product was granted orphan
designation in Europe in that
indication (6/9)
SciGen Ltd.
(Singapore;
ASX:SIE)
SciLin
Recombinant human
insulin
Diabetes
The product was approved in
Thailand (1 1/14)
Serono SA
(Switzerland;
NYSE:SRA)
Raptiva
Efalizumab; humanized
(FDA-approved) antibody designed to block
T cells implicated in
psoriasis
Plaque
psoriasis
The product was approved in
Canada for treating moderate to
severe chronic plaque psoriasis in
adult patients (10/31)
SGX
Pharmaceuticals
Inc.*
Troxatyl
Troxacitabine; nucleoside
analogue
Acute
myelogenous
leukemia
The product was granted orphan
drug status in Europe in that
indication (9/27)
Shanghai
Sunway Biotech
Co. Ltd.* (China)
H101
Oncolytic adenovirus
Nasopharyngeal
cancer
The product was approved in
China for use with chemotherapy
(1 1/17)
Sinovac
Biotech Ltd.
(China; AMEX:SVA)
Anflu
Split-flu type influenza
vaccine
Influenza
Received a GMP certificate in
China, the final approval required
to sell the product there (10/27)
Sinovac
Biotech Ltd.
(China; AMEX:SVA)
Bilive
Combined hepatitis A and
B vaccine
Hepatitis A
and B
Received final marketing approval in China (1/12)
TopoTarget
A/S (Denmark;
CSE:TOPO)
Savene
Dexrazoxane; inhibitor
of topoisomerase II
Antidote to
anthracyline
extravasation
The company filed for approval
of the product in Europe (8/18)
United
Therapeutics
Corp. (UTHR)
Remodulin
Treprostinil sodium
(FDA-approved) injection
Pulmonary
hypertension
Approval in 22 additional countries in Europe was gained upon
completion of the Mutual Recognition Procedure for treating
NYHA Class III primary disease
(8/10)
United
Therapeutics
Corp. (UTHR)
Remodulin
Treprostinil sodium
(FDA-approved) injection
Pulmonary
hypertension
French officials issued an approval letter for treating NYHA Class
III primary PH, and said the mutual recognition process in the EU
would begin in May (3/8)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
401
Overseas Actions And Approvals In 2005
Company*
(Symbol)
Product
Description
Indication
Action/Date
Viragen Inc.
(AMEX:VRA)
Multiferon
Multisubtype, natural
human alpha interferon
Various diseases
Drug was approved in the Philippines and Chile for the secondline treatment of any diseases in
which recombinant interferon
therapy failed (4/25)
Viragen Inc.
(AMEX:VRA)
Multiferon
Multisubtype, human
alpha interferon derived
from white blood cells
Malignant
melanoma
Filed for approval in Sweden to
expand labeling to include firstline adjuvant treatment, following
dacarbazine after surgical removal of tumors (2/4)
Viventia
Biotech Inc.
(Canada; TSE:VBI)
Proxinium
Antibody fragment
conjugated with a
cancer-killing payload
Head and
neck cancer
The product was granted orphan
designation in Europe in that indication by the EMEA (6/1)
Xechem
Niprisan
International
(Nicosan/
Inc. (OTC BB:XKEM) Hemoxin)
A phytopharmaceutical
drug; a composition of
four traditional plants
Sickle cell
disease
The EMEA granted orphan designation to the product in the
European Union (10/4)
Xenova
Group plc
(UK; XNVA)
TransMID
(SOT-107)
Modified diphtheria toxin
conjugated to transferrin
Glioma
Partner Sosei Co. Ltd. was granted
orphan drug status in that indication in Japan (2/14)
York Pharma
plc (UK; AIM:YRK)
Abasol
(abafungin)
Broad-spectrum antifungal and antibacterial
agent
Dermatomycoses
Filed for approval in the UK as the
first step for seeking approval
throughout Europe (7/29)
Notes:
* Privately held.
MAA = Marketing authorization application; MRP = Mutual Recognition Procedure; EMEA = European Medicines Agency.
Unless otherwise noted, the stock symbols listed for public companies are on the Nasdaq market.
AIM = Alternative Investment Market; AMEX = American Stock Exchange; ASX = Australian Stock Exchange; CSE =
Copenhagen Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-theCounter Bulletin Board; TSE = Toronto Stock Exchange.
402
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
BIOWORLD
®
R E P O R T
C A R D
F O R
WA L L
S T R E E T
Methodology Used To Evaluate
Underwriters’ Performance
BioWorld ranked the underwriters of 2005’s public offerings, both initial
and follow-on, in two basic ways.
First, the underwriters were ranked on the total amount of gross proceeds
raised in both initial and follow-on public offerings combined.
If an underwriting firm acted as the sole placement agent for an institutional
offering then that firm was credited as “lead” underwriter. If more than one firm
acted as placement agent then each was considered to be a co-manager, and
credited as such for the purpose of calculating underwriters’ performance.
For analysis on a “Full Credit To Lead” basis, BioWorld applied the total
gross proceeds raised in IPOs and follow-on offerings to the lead underwriter for those offerings. For each underwriter cited, the graphs also indicate the total number of public offerings in which a particular underwriter
acted as the lead underwriter.
For analysis on a “Full Credit To All” basis, BioWorld applied the total gross
proceeds raised in all types of public offerings to each underwriter of that offering.
Secondly, BioWorld singled out the initial public offerings only and then
analyzed underwriter performance. The underwriters were again ranked on
both a “Full Credit To Lead” basis and a “Full Credit To All” basis (as described
above). The graphs also indicate the total number of IPOs in which a particular
underwriter acted as the lead underwriter, as well as the total number of IPOs
in which that same underwriter acted as either lead or co-manager.
In addition, BioWorld then analyzed the after-market performance of the
IPOs and ranked the underwriters accordingly. Here, again, underwriters
were ranked on both a “Full Credit To Lead” basis and a “Full Credit To All”
basis. The after-market performance compared the share (or unit) price at
the IPO with the share (or unit) price at the end of the calendar year
(12/31/05), expressed as percent change. If one particular underwriter acted
as either lead or co-manager in more than one IPO, BioWorld calculated the
average percent change for those offerings.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
405
Top 10 Underwriters: All Public Offerings; Full Credit To Lead
Underwriters, Ranked By Gross Proceeds
Gross Proceeds ($M)
Underwriter (Number of Offerings As Lead)
0
406
200
400
600
800
1,000
1,002
UBS Investment Bank (15)
Morgan Stanley & Co. (10)
929
Merrill Lynch & Co. (7)
879
762
Goldman Sachs & Co. (6)
JP Morgan Securities (9)
662
Bear, Stearns & Co. (7)
567
Lehman Brothers (6)
487
SG Cowen & Co. (9)
479
CIBC World Markets (9)
Deutsche Bank Securities (4)
1,200
403
315
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Other Underwriters Of All Public Offerings For 2005:
Full Credit To Lead Underwriters, Ranked By Gross Proceeds
Underwriter
(Number Of Offerings As
Lead Underwriter)
Gross
Proceeds
(M)
Piper Jaffray & Co. (4)
Banc of America Securities (4)
Credit Suisse First Boston (3)
Thomas Weisel Partners (2)
Pacific Growth Equities (3)
WR Hambrecht + Co. (3)
Adams Harkness (1)
Citigroup (1)
Lazard Capital Markets (2)
C.E. Unterberg, Towbin (1)
ThinkEquity Partners (1)
Robert W. Baird & Co. (1)
Needham & Co. (1)
Wachovia Capital Markets (1)
Punk Ziegel & Co. (1)
Jefferies & Co. (1)
First Dunbar Securities (1)
Ferris, Baker Watts (1)
$281.7
$236.4
$218.8
$120.6
$93.3
$90.2
$86.3
$86.3
$76.6
$32.0
$32.0
$31.5
$23.3
$21.3
$20.2
$19.2
$17.3
$8.8
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
407
Top 10 Underwriters: All Public Offerings; Full Credit To All
Underwriters, Ranked By Gross Proceeds
Gross Proceeds ($M)
Underwriter (Number Of Offerings As
Lead/Number Of Offerings As Lead Or CoManager)
0
408
250
500
750
1,000
1,250
1,262
JP Morgan Securities (9/14)
SG Cowen & Co. (9/16)
1,206
UBS Investment Bank (15/16)
1,178
1,104
Piper Jaffray & Co. (4/13)
CIBC World Markets (9/18)
935
Morgan Stanley & Co. (10/10)
929
Lazard Capital Markets (2/13)
916
879
Merrill Lynch & Co. (7/7)
Goldman, Sachs & Co. (6/7)
Bear, Stearns & Co. (7/8)
1,500
827
702
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Other Underwriters Of All Public Offerings For 2005:
Full Credit To All Underwriters, Ranked By Gross Proceeds
Underwriter
(Number Of Offerings As
Lead Underwriter/Number
Of Offerings As Lead Or
Co-Manager)
Gross
Proceeds
(M)
Lehman Brothers (6/7)
Needham & Co. (1/1 1)
Banc of America Securities (4/6)
First Albany Capital (0/4)
Pacific Growth Equities (3/8)
Thomas Weisel Partners (2/6)
Lerrink Swann & Co. (0/4)
Deutsche Bank Securities (4/4)
JMP Securities (0/3)
Wachovia Capital Markets (1/2)
Credit Suisse First Boston (3/3)
BMO Nesbitt Burns (0/2)
Harris Nesbitt (0/2)
Jefferies & Co. (1/3)
Friedman, Billings, Ramsey (0/2)
Punk Ziegel & Co. (1/2)
A.G. Edwards (0/2)
WR Hambrecht + Co. (3/3)
C.E. Unterberg, Towbin (1/2)
Robert W. Baird & Co. (1/2)
Adams Harkness (1/1)
Citigroup (1/1)
D.A. Davidson & Co. (0/1)
Brean Murray & Co. (0/1)
Oppenheimer & Co. (0/1)
William Blair & Co. (0/2)
Fortis Securities (0/1)
Wells Fargo Securities (0/1)
First Associates Investments (0/1)
GMP Securities (0/1)
Orion Securities (0/1)
Granite Financial Group (0/1)
Morgan Joseph & Co. (0/1)
ThinkEquity Partners (1/1)
Merriman Curhan Ford & Co. (0/1)
Legg Mason Wood Walker (0/1)
$638.0
$632.9
$569.2
$540.6
$446.7
$316.2
$316.0
$315.2
$260.9
$223.7
$218.8
$152.3
$132.8
$132.6
$1 15.2
$101.4
$90.3
$90.2
$88.2
$86.7
$86.3
$86.3
$86.3
$81.2
$81.2
$79.9
$61.2
$61.2
$58.7
$58.7
$58.7
$51.8
$51.8
$32.0
$32.0
$28.9
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
409
Other Underwriters Of All Public Offerings For 2005: Full Credit To All Underwriters, Ranked By Gross Proceeds (Continued)
Underwriter
(Number Of Offerings As
Lead Underwriter/Number
Of Offerings As Lead Or
Co-Manager)
Gross
Proceeds
(M)
Susquehanna Financial (0/1)
GunnAllen Financial (0/2)
Delafield Hambrecht (0/1)
SunTrust Robinson, Humphrey (0/1)
Baker Watts Stifel (0/1)
Nicolaus & Co. (0/1)
First Dunbar Securities (1/1)
Ferris, Baker Watts (1/1)
Maxim Group (0/1)
$28.9
$28.0
$23.3
$23.3
$19.2
$19.2
$17.3
$8.8
$8.8
410
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Top 10 Underwriters: Initial Public Offerings; Full Credit To
Lead Underwriters, Ranked By Gross Proceeds
Gross Proceeds ($M)
Underwriter (Number Of Offerings As Lead)
0
50
100
150
200
Merrill Lynch & Co. (2)
202
Banc of America Securities (2)
128
108
Morgan Stanley & Co. (2)
Lehman Brothers (2)
102
UBS Investment Bank (2)
101
SG Cowen & Co. (2)
90
60
Credit Suisse First Boston (1)
Pacific Growth Equities (1)
300
266
JP Morgan Securities (4)
Deutsche Bank Securities (1)
250
53
48
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
411
Other Underwriters Of 2005’s Initial Public Offerings;
Full Credit To Lead Underwriters, Ranked By Gross Proceeds
Underwriter
(Number Of IPOs As
Lead Or Co-lead Underwriter)
Gross
Proceeds
(M)
Bear, Stearns & Co. (1)
CIBC World Markets (1)
C.E. Unterberg, Towbin (1)
ThinkEquity Partners (1)
WR Hambrecht + Co. (1)
First Dunbar Securities (1)
Jefferies & Co. (1)
$42.0
$37.3
$32.0
$32.0
$28.9
$17.3
$19.2
412
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Underwriter (Number Of IPOs As Lead/Number Of
IPOs As Lead Or Co-Manager)
Top 10 Underwriters: Initial Public Offerings; Full Credit To All
Underwriters, Ranked By Gross Proceeds
Gross Proceeds ($M)
0
50
100
150
200
250
300
Lazard Capital Markets (0/5)
JP Morgan Securities (4/4)
266
Merrill Lynch & Co. (2/2)
202
192
Pacific Growth Equities (1/3)
Lerrink Swann & Co. (0/2)
171
Banc of America Securities (2/2)
128
CIBC World Markets (1/3)
120
Piper Jaffray & Co. (0/2)
115
Thomas Weisel Partners (0/2)
115
Morgan Stanley & Co. (2/2)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
108
413
Other Underwriters Of 2005’s Initial Public Offerings;
Full Credit To All Underwriters, Ranked By Gross Proceeds
Underwriter
(Number Of IPOs As
Lead/Number Of IPOs
As Lead Or Co-Manager)
Gross
Proceeds
(M)
Lehman Brothers (2/2)
UBS Investment Bank (2/2)
BMO Nesbitt Burns (0/1)
SG Cowen & Co. (2/2)
A.G. Edwards (0/2)
Needham & Co. (0/2)
Credit Suisse First Boston (1/1)
Deutsche Bank Securities (1/1)
Bear, Stearns & Co. (1/1)
William Blair & Co. (0/1)
C.E. Unterberg, Towbin (1/1)
ThinkEquity Partners (1/1)
Merriman Curhan Ford & Co. (0/1)
WR Hambrecht + Co. (1/1)
Legg Mason Wood Walker (0/1)
Susquehanna Financial (0/1)
Jefferies & Co. (1/1)
Baker Watts Stifel (0/1)
GunnAllen Financial (0/1)
JMP Securities (0/1)
Nicolaus & Co. (0/1)
First Dunbar Securities (1/1)
$102.2
$101.2
$91.1
$90.3
$90.3
$84.0
$60.4
$52.5
$42.0
$37.3
$32.0
$32.0
$32.0
$28.9
$28.9
$28.9
$19.2
$19.2
$19.2
$19.2
$19.2
$17.3
414
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Top 10 Underwriters: Initial Public Offerings: After-Market
Performance; Full Credit To Lead Underwriters
Underwriter (Number Of Offerings as Lead)
Percent Change In Stock Price Post-IPO To Year-End
(25)
0
25
50
75
125
106
CIBC World Markets (1)
75
Banc of America Securities (2)
71
Deutsche Bank Securities (1)
31
Morgan Stanley & Co. (2)
Merrill Lynch & Co. (2)
19
17
Pacific Growth Equities (1)
(6)
SG Cowen & Co. (2)
JP Morgan Securities (4)
100
(15)
UBS Investment Bank (2)
(20)
Credit Suisse First Boston (1)
(20)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
415
Other Underwriters Of 2005’s Initial Public Offerings:
After-Market Performance OF IPOS; Full Credit To Lead
Underwriters
Underwriter
(Number Of IPOs As
Lead/Number Of IPOs
As Lead Or Co-Manager)
Percentage Change In Stock
Price Post-IPO To Year-End
C.E. Unterberg, Towbin (1)
ThinkEquity Partners (1)
Lehman Brothers (2)
Jefferies & Co. (1)
Bear, Stearns & Co. (1)
First Dunbar Securities (1)
WR Hambrecht + Co. (1)
-22%
-22%
-27%
-37%
-42%
-55%
-57%
416
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Top 10 Underwriters: Initial Public Offerings: After-Market
Performance; Full Credit To All Underwriters
Underwriter (Number Of Offerings as Lead)
Percent Change In Stock Price Post-IPO To Year-End
(10)
15
40
65
90
106
William Blair & Co. (0/1)
75
Banc of America Securities (2/2)
71
Deutsche Bank Securities (1/1)
Pacific Growth Equities (1/3)
44
BMO Nesbitt Burns (0/1)
43
34
Lazard Capital Markets (0/5)
31
Morgan Stanley & Co. (2/2)
19
Merrill Lynch & Co. (2/2)
15
CIBC World Markets (1/3)
SG Cowen & Co. (2/2)
115
(6)
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
417
Other Underwriters: Initial Public Offerings: After-Market
Performance; Full Credit To All Underwriters
Underwriter
(Number Of IPOs As
Lead/Number Of IPOs
As Lead Or Co-Manager)
Percentage Change In Stock
Price Post-IPO To Year-End
A.G. Edwards (0/2)
Lerrink Swann & Co. (0/2)
JP Morgan Securities (4/4)
Piper Jaffray & Co. (0/2)
Thomas Weisel Partners (0/2)
UBS Investment Bank (2/2)
Credit Suisse First Boston (1/1)
C.E. Unterberg, Towbin (1/1)
ThinkEquity Partners (1/1)
Merriman Curhan Ford & Co. (0/1)
JMP Securities (0/1)
Lehman Brothers (2/2)
Needham & Co. (0/2)
Jefferies & Co. (1/1)
Baker Watts Stifel (0/1)
GunnAllen Financial (0/1)
Nicolaus & Co. (0/1)
Bear, Stearns & Co. (1/1)
First Dunbar Securities (1/1)
Legg Mason Wood Walker (0/1)
Susquehanna Financial (0/1)
WR Hambrecht + Co. (1/1)
-13%
-13%
-15%
-17%
-17%
-20%
-20%
-22%
-22%
-22%
-24%
-27%
-36%
-37%
-37%
-37%
-37%
-42%
-55%
-57%
-57%
-57%
418
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
BIOWORLD
®
S T O C K
PERFORMANCE
2005 Biotechnology Stock Report
Company
Symbol
12/31/04*
3/31/05
6/30/05
9/30/05
12/30/05
Aastrom Biosciences
Abgenix
Acadia Pharma
Accelrys
Access Pharma
Acusphere
Adolor
Advancis Pharma
Aeolus Pharma
AEterna Zentaris
Affymetrix
Albany Molecular
Alexion Pharma
Alkermes
Alliance Pharma
Allos Therapeutics
Alnylam Pharma
Alteon
Amgen
Amylin Pharma
Anadys Pharma
Antigenics
Aphton
Aradigm
Arena Pharma
Ariad Pharma
ArQule
Array BioPharma
Aspreva
AtheroGenics
AutoImmune
Auxilium Pharma
Avanir
Avant
Avax
AVI BioPharma
Avigen
Axonyx
BioCryst Pharma
Biogen Idec
BioMarin Pharma
Biomira
Biopure
BioTime
Boston Life Sciences
Bruker BioSciences
CancerVax
Cardiovascular Bio
Carrington Lab
Celera Genomics
ASTM
ABGX
ACAD
ACCL
AKC
ACUS
ADLR
AVNC
AOLS
AEZS
AFFX
AMRI
ALXN
ALKS
ALLP
ALTH
ALNY
ALT
AMGN
AMLN
ANDS
AGEN
APHT
ARDM
ARNA
ARIA
ARQL
ARRY
ASPV
AGIX
AIMM
AUXL
AVN
AVAN
AVXT
AVII
AVGN
AXYX
BCRX
BIIB
BMRN
BIOM
BPUR
BTIM
BLSI
BRKR
CNVX
CVBT
CARN
CRA
1.42
10.34
6.77
7.80
3.54
6.13
9.92
3.82
1.25
6.26
36.55
1 1.14
25.20
14.09
0.19
2.4
7.47
1.31
64.15
23.36
7.49
10.12
3.1 1
1.73
6.70
7.43
5.79
9.52
1 1.00
23.56
0.88
8.85
3.41
2.01
0.31
2.35
3.26
6.20
5.78
66.61
6.39
2.41
0.59
1.51
2.85
4.03
10.85
10.00
6.13
13.75
2.08
7.00
6.90
5.93
2.49
5.41
9.92
3.70
0.70
5.12
42.81
10.28
21.67
10.38
0.17
2.06
7.35
0.59
58.21
17.49
7.36
6.70
1.27
6.10
5.05
5.60
4.69
7.01
14.55
13.09
1.00
5.98
2.20
1.63
0.36
2.50
2.79
1.23
4.61
34.51
5.15
1.86
1.98
1.13
2.50
3.52
6.59
1 1.00
5.16
10.25
3.12
8.58
8.40
4.95
1.85
4.77
9.25
1.72
0.73
4.61
53.92
14.00
23.04
13.22
0.20
2.18
7.30
0.22
60.46
20.93
9.16
5.41
0.74
5.30
6.82
6.66
6.48
6.30
15.49
15.98
0.87
4.77
2.80
1.17
0.28
2.32
3.08
1.33
5.08
34.45
7.48
1.72
1.32
0.58
2.10
3.99
2.85
7.60
4.50
10.97
2.35
12.68
1 1.37
6.76
0.88
5.44
10.68
1.41
1.12
4.80
46.23
12.18
27.65
16.80
0.1 1
2.44
1 1.30
0.30
79.67
34.79
10.67
5.42
0.63
5.35
9.90
7.43
7.83
7.18
14.26
16.03
0.91
4.98
3.09
1.30
0.31
2.64
2.78
1.15
9.78
39.48
8.73
1.38
1.1 1
0.43
2.1 1
4.38
3.44
8.80
4.21
12.13
2.1 1
21.49
9.85
8.03
0.52
5.34
14.60
1.38
0.95
5.10
47.75
12.15
20.25
19.12
0.09
2.15
13.36
0.18
78.86
39.92
8.80
4.76
0.34
0.73
14.21
5.85
6.12
7.01
15.72
20.01
0.92
5.50
3.44
1.88
0.25
3.45
3.03
0.83
16.75
45.28
10.78
1.40
0.78
0.31
2.23
4.86
1.38
4.55
4.73
10.96
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
% YTD
48.6
107.8
45.5
2.9
-85.3
-12.9
47.2
-63.9
-24.0
-18.5
30.6
9.1
-19.6
35.7
-52.6
-10.4
78.8
-86.3
22.9
70.9
17.5
-53.0
-89.1
-57.8
1 12.1
-21.3
5.7
-26.4
42.9
-15.1
4.5
-37.9
0.9
-6.5
-19.4
46.8
-7.1
-86.6
189.8
-32.0
68.7
-41.9
32.2
-79.5
-21.8
20.6
-87.3
-54.5
-22.8
-20.3
421
2005 Biotechnology Stock Report (Continued)
Company
Symbol
Celgene
CELG
Cell Genesys
CEGE
Cell Therapeutics
CTIC
Cellegy Pharma
CLGY
CEL-SCI
CVM
Cephalon
CEPH
Cepheid
CPHD
Cerus
CERS
Chiron
CHIR
Cholestech
CTEC
Ciphergen
CIPHE
CollaGenex Pharma
CGPI
Columbia Laboratories CBRX
CombiMatrix Group
CBMX
Compugen
CGEN
Connetics
CNCT
Corautus Genetics
VEGF
Corcept Therapeutics CORT
Corgentech
CGTK
Cortex Pharma
COR
CoTherix
CTRX
Critical Therapeutics CRTX
Crucell
CRXL
Cubist Pharma
CBST
CuraGen
CRGN
Curis
CRIS
CV Therapeutics
CVTX
Cyanotech
CYAN
Cygnus
CYGT
Cypress Bioscience
CYPB
Cytogen
CYTO
Cytokinetics
CYTK
CytRx
CYTR
deCODE genetics
DCGN
Deltagen
DGEN
Dendreon
DNDN
DepoMed
DEPO
Digene
DIGE
Discovery Labs
DSCO
Discovery Partners
DPII
Diversa
DVSA
DOR BioPharma
DOR
DOV Pharma
DOVP
Draxis Health
DRAX
DURECT
DRRX
DUSA Pharma
DUSA
Dyax
DYAX
Dynavax
DVAX
Embrex
EMBX
Emisphere
EMIS
Encysive Pharma
ENCY
EntreMed
ENMD
Enzo Biochem
ENZ
422
12/31/04*
3/31/05
6/30/05
9/30/05
12/30/05
% YTD
26.52
8.10
8.14
2.87
0.60
50.88
9.94
2.95
33.33
8.20
4.30
7.34
2.65
3.97
5.15
24.29
5.38
6.25
8.28
2.71
1 1.92
8.00
13.77
1 1.83
7.16
5.22
23.00
1.44
0.12
14.06
1 1.52
10.25
1.40
7.81
0.07
10.78
5.40
26.15
7.93
4.71
8.74
0.64
18.05
4.96
3.28
14.3
7.22
8.00
13.26
4.02
9.93
3.24
19.47
34.05
4.53
3.59
1.62
0.65
46.83
9.67
3.07
35.06
10.08
2.77
4.67
1.91
2.22
4.01
25.29
4.61
4.54
2.32
2.23
6.62
6.79
13.05
10.62
4.16
3.58
20.36
1.22
0.17
9.14
5.79
6.56
0.37
5.70
0.16
5.45
3.94
20.75
5.63
3.20
4.98
0.39
13.68
5.15
3.64
8.73
3.22
4.67
1 1.72
3.67
10.22
2.10
14.42
40.70
5.35
2.71
1.63
0.52
39.8
7.34
4.43
34.89
1 1.27
1.91
7.61
3.15
2.34
3.20
17.64
4.17
5.76
2.60
2.35
10.19
7.02
24.01
13.17
5.14
3.90
22.42
1.18
1.40
13.20
5.23
6.94
0.91
9.39
0.1 1
5.23
4.37
27.68
7.29
2.86
5.21
0.32
18.66
4.97
5.09
9.30
4.71
4.80
1 1.15
4.02
10.81
2.31
17.93
54.32
5.48
2.86
1.43
0.47
46.42
7.39
8.86
43.65
10.08
1.85
9.92
3.76
1.66
3.31
16.91
4.45
5.00
2.36
2.37
13.95
9.42
26.81
21.54
4.95
4.59
26.75
0.96
1.57
5.41
4.04
8.14
0.97
8.39
0.24
6.71
6.48
28.5
6.45
3.22
5.79
0.33
16.98
4.62
6.85
10.6
5.59
6.70
1 1.25
4.50
1 1.78
2.39
15.36
64.80
5.93
2.18
0.52
0.49
64.74
8.78
10.15
44.44
9.92
1.18
12.07
4.65
1.37
4.26
14.45
4.16
3.65
2.45
2.28
10.58
7.18
25.60
21.24
3.08
3.55
24.73
0.65
0.15
5.78
2.74
6.52
1.03
8.26
0.40
5.42
6.00
29.17
6.69
2.65
4.80
0.27
14.68
4.33
5.07
10.77
5.27
4.21
13.86
4.34
7.88
1.94
12.42
144.3
-26.8
-73.2
-81.9
-18.3
27.2
-1 1.7
244.1
33.3
21.0
-72.6
64.4
75.5
-65.5
-17.3
-40.5
-22.7
-41.6
-70.4
-15.9
-1 1.2
-10.3
85.9
79.5
-57.0
-32.0
7.5
-54.9
25.0
-58.9
-76.2
-36.4
-26.4
5.8
-100.0
-49.7
1 1.1
1 1.5
-15.6
-43.7
-45.1
-57.8
-18.7
-12.7
54.6
-24.7
-27.0
-47.4
4.5
8.0
-20.6
-40.1
-36.2
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Stock Report (Continued)
Company
Symbol
12/31/04*
3/31/05
6/30/05
9/30/05
12/30/05
% YTD
Enzon Pharma
EPIX Pharma
Ergo Science
EXACT Sciences
eXegenics
Exelixis
Favrille
Flamel Technologies
Genaera
Gene Logic
Genelabs
Genentech
Generex Biotech
Genitope
Gen-Probe
Genta
GenVec
Genzyme
Geron
Gilead Sciences
GPC Biotech
GTC Biotherapeutics
GTx
Hana Bioscience
Helix Biomesic
Hemispherx
Human Genome Sci
Icagen
ICOS
Idenix Pharma
IDEXX Laboratories
ImClone Systems
Immtech International
ImmuCell
Immucor
Immune Response
Immunicon
ImmunoGen
Immunomedics
Incyte
Indevus Pharma
Inhibitex
Inovio Biomedical
Insite Vision
Insmed
Inspire Pharma
Integra LifeSciences
Interleukin Genetics
InterMune
IntraBiotics Pharma
Introgen Therapeutics
Invitrogen
Isis Pharmaceuticals
ENZN
EPIX
ERGO
EXAS
EXEG
EXEL
FVRL
FLML
GENR
GLGC
GNLBD
DNA
GNBT
GTOP
GPRO
GNTA
GNVC
GENZ
GERN
GILD
GPCB
GTCB
GTXI
HBX
HXBM
HEB
HGSI
ICGN
ICOS
IDIX
IDXX
IMCL
IMM
ICCC
BLUD
IMNR
IMMC
IMGN
IMMU
INCY
IDEV
INHX
INO
ISV
INSM
ISPH
IART
ILI
ITMN
IBPI
INGN
IVGN
ISIS
13.72
17.91
2.44
3.83
0.34
9.50
7.00
19.49
3.42
3.68
6.00
54.44
0.75
17.04
45.21
1.76
1.63
58.07
7.97
34.99
14.21
1.52
13.49
1.90
1.75
12.02
5.90
8.00
28.28
17.15
54.59
46.08
1 1.99
7.16
23.51
1.61
6.98
8.84
3.04
9.99
5.96
8.04
3.94
0.88
2.20
16.77
36.93
3.55
13.26
4.08
8.44
67.13
5.90
10.19
7.00
2.22
3.57
0.45
6.78
5.08
12.94
2.28
3.14
3.00
56.61
0.54
12.50
44.56
1.13
1.73
57.24
6.1 1
35.80
1 1.53
1.05
9.10
1.65
1.55
1.50
9.22
6.36
22.46
19.85
54.16
34.5
12.42
4.26
30.19
0.78
5.89
5.23
2.43
6.83
2.78
6.09
3.42
0.49
0.85
8.16
35.22
3.65
1 1.00
3.60
7.89
69.20
3.87
6.48
8.85
2.39
2.28
0.36
7.43
4.25
18.1 1
1.70
3.31
2.50
80.28
0.63
12.84
36.23
1.18
1.84
60.09
7.74
43.99
1 1.18
1.68
9.94
2.25
1.50
1.87
1 1.58
7.85
21.17
21.68
62.33
30.97
1 1.02
4.52
28.95
0.65
5.08
5.79
1.71
7.15
2.56
7.56
3.1 1
0.65
0.98
8.42
29.20
3.05
13.04
3.50
6.44
83.29
3.91
6.60
7.70
1.29
1.82
0.40
7.65
4.55
18.7
1.92
4.89
3.20
84.21
0.67
6.94
49.45
1.50
2.05
71.64
10.27
48.76
12.64
1.39
9.31
4.25
1.03
1.70
13.59
6.75
27.62
25.10
66.88
31.45
1 1.66
5.01
27.44
0.46
3.93
7.34
2.05
4.70
2.88
10.18
2.72
0.64
1.34
7.60
38.26
3.75
16.55
3.66
5.22
75.23
5.05
7.40
4.04
0.93
2.21
0.41
9.42
4.05
18.88
1.50
3.35
1.85
92.5
0.83
7.95
48.79
1.46
1.65
70.78
8.61
52.57
12.33
1.64
7.56
5.87
0.78
2.17
8.56
6.45
27.63
17.1 1
71.98
34.24
6.94
5.25
23.36
0.08
3.43
5.13
2.92
5.34
5.38
8.40
2.27
0.83
1.92
5.10
35.46
5.35
16.76
3.61
5.27
66.72
5.23
-46.1
-77.4
-61.9
-42.3
20.6
-0.8
-42.1
-3.1
-56.1
-9.0
-69.2
69.9
10.7
-53.3
7.9
-17.0
1.2
21.9
8.0
50.2
-13.2
7.9
-44.0
208.9
-55.4
-81.9
45.1
-19.4
-2.3
-0.2
31.9
-25.7
-42.1
-26.7
-0.6
-95.0
-50.9
-42.0
-3.9
-46.5
-9.7
4.5
-42.4
-5.7
-12.7
-69.6
-4.0
50.7
26.4
-1 1.5
-37.6
-0.6
-1 1.4
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
423
2005 Biotechnology Stock Report (Continued)
Company
Symbol
12/31/04*
3/31/05
6/30/05
9/30/05
12/30/05
% YTD
ISTA Pharmaceuticals
Keryx Biopharmac
Kosan Biosciences
La Jolla Pharma
Large Scale Biology
Lexicon Genetics
LifeCell
Lifecore Biomedical
Ligand Pharma
MacroChem
Manhattan Pharma
MannKind
Martek Biosciences
Matritech
Maxygen
Medarex
MedImmune
Memory Pharma
Metabasis
MGI Pharma
Millennium Pharma
Miravant Medical
Momenta Pharma
Monogram Biosci
Myogen
Myriad Genetics
Nabi Biopharma
Nanogen
Nastech Pharma
Nektar Therapeutics
NeoPharm
NeoRx
Neose Technologies
Neurobiological Tech.
Neurochem
Neurocrine Biosci
Neurogen
New River Pharma
NitroMed
North American Sci
Northfield Labs
Northwest Bioth
Novavax
NPS Pharma
Nuvelo
Onyx Pharma
OraSure Technologies
Orchid Biosciences
Ortec Intl.
Oscient Pharma
OSI Pharma
Osteotech
OXiGENE
ISTA
KERX
KOSN
LJPCD
LSBC
LEXG
LIFC
LCBM
LGND
MACM
MHA
MNKD
MATK
MZT
MAXY
MEDX
MEDI
MEMY
MBRX
MOGN
MLNM
MRVT
MNTA
MGRM
MYOG
MYGN
NABI
NGEN
NSTK
NKTR
NEOL
NERX
NTEC
NTII
NRMX
NBIX
NRGN
NRPH
NTMD
NASI
NFLD
NWBT
NVAX
NPSP
NUVO
ONXX
OSUR
ORCH
ORTN
OSCI
OSIP
OSTE
OXGN
10.12
1 1.57
6.93
8.35
6.30
7.76
10.22
1 1.26
1 1.64
0.85
0.97
15.75
51.20
1.06
12.79
10.78
27.1 1
5.32
7.25
28.01
12.14
1.01
7.06
0.73
8.07
22.51
14.65
7.36
12.10
20.24
12.51
2.09
6.72
4.42
17.53
49.3
9.36
14.96
26.65
5.39
22.55
0.04
3.26
18.28
9.85
32.39
6.72
1 1.50
0.97
3.65
74.85
5.50
5.50
9.88
13.36
4.10
3.50
4.50
5.1 1
8.95
17.81
5.73
16.37
1.55
14.23
58.19
1.02
8.58
7.13
23.81
4.38
3.40
25.27
8.42
0.85
8.47
2.39
7.89
18.39
12.48
3.48
9.88
13.94
7.77
0.99
2.58
3.33
1 1.91
38.06
7.08
25.50
17.31
3.60
1 1.25
0.26
1.41
12.62
6.50
31.35
7.36
1 1.76
0.73
2.34
41.34
3.77
4.08
8.32
13.20
5.28
4.00
4.85
4.94
15.81
10.91
6.95
10.08
1.49
10.05
37.96
0.70
6.86
8.30
26.72
1.85
3.15
21.75
9.27
0.51
19.77
2.48
6.99
15.65
15.23
3.84
14.23
16.83
9.99
0.60
3.15
3.02
10.05
42.06
6.82
29.99
19.45
2.07
14.31
0.18
1.32
1 1.35
7.73
23.82
9.98
10.79
0.35
2.65
41.01
3.68
4.54
6.64
15.76
7.27
3.80
4.15
3.97
21.63
12.09
10.14
2.14
1.30
13.69
35.13
0.63
8.29
9.52
33.65
2.71
5.83
23.24
9.33
0.39
27.25
2.35
23.50
21.86
13.10
3.21
14.15
16.95
12.40
0.92
2.35
3.81
12.67
49.19
6.88
47.94
18.00
2.62
12.90
0.17
1.75
10.1 1
9.60
24.97
9.45
8.50
0.35
2.12
29.24
5.73
5.27
6.36
14.64
4.42
3.70
0.1 1
3.65
19.04
16.22
1 1.15
0.02
1.25
1 1.26
24.64
0.53
7.50
13.87
34.98
2.28
8.00
17.15
9.70
0.19
22.04
1.87
30.09
20.79
3.40
2.61
14.71
16.46
10.79
0.75
1.93
3.59
14.31
62.73
6.56
51.84
13.95
2.15
13.40
0.10
3.85
1 1.84
8.1 1
28.8
8.83
7.65
0.19
2.27
28.04
5.01
3.97
-37.2
26.5
-36.2
-55.7
-98.3
-53.0
86.3
44.0
-4.2
-97.3
28.9
-28.5
-51.9
-50.0
-41.4
28.7
29.0
-57.1
10.3
-38.8
-20.1
-81.2
212.2
156.2
272.9
-7.6
-76.8
-64.5
21.6
-18.7
-13.7
-64.1
-71.3
-18.8
-18.4
27.2
-29.9
246.5
-47.7
-60.1
-40.6
150.0
18.1
-35.2
-17.7
-1 1.1
31.4
-33.5
-80.4
-37.8
-62.5
-8.9
-27.8
424
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Stock Report (Continued)
OXIS Intl.
Pain Therapeutics
Palatin Technologies
Peregrine Pharma
Pharma Product Dev
Pharmacopeia Drug
Pharmacyclics
Pharmion
Pharmos
Pharsight
Praecis Pharma
Progenics Pharma
Protein Design Labs
QLT
Questcor Pharma
Regeneration
Regeneron Pharma
Renovis
Repligen
Rigel Pharma
Salix Pharma
Sangamo Biosciences
Santarus
Savient Pharma
SciClone Pharma
Seattle Genetics
Senomyx
Sepracor
Sequenom
Serono
SIGA Technologies
Simulations Plus
Sirna Therapeutics
Solexa
Sonus Pharma
Spectrum Pharma
StemCells
Stratagene
SuperGen
Tanox
Tapestry Pharma
Targeted Genetics
Telik
Tercica
Theravance
Third Wave Tech
Threshold Pharma
Titan Pharma
Transgenomic
Trimeris
Trinity Biotech
Tripos
Unigene
United Therapeutics
OXIS
PTIE
PTN
PPHM
PPDI
PCOP
PCYC
PHRM
PARS
PHST
PRCS
PGNX
PDLI
QLTI
QSC
RTIX
REGN
RNVS
RGEN
RIGL
SLXP
SGMO
SNTS
SVNTE
SCLN
SGEN
SNMX
SEPR
SQNM
SRA
SIGA
SLP
RNAI
SLXA
SNUS
SPPI
STEM
STGN
SUPG
TNOX
TPPH
TGEN
TELK
TRCA
THRX
TWTI
THLD
TTP
TBIO
TRMS
TRIB
TRPS
UGNE
UTHR
0.55
7.21
2.66
1.17
41.29
5.97
10.47
42.21
1.42
0.95
1.90
17.16
20.66
16.08
0.53
10.48
9.21
14.38
2.88
24.42
7.64
6.00
9.04
2.71
3.70
6.53
8.28
59.37
1.44
16.32
1.66
5.56
3.17
17.59
3.53
6.66
4.23
7.75
7.05
15.2
0.97
1.55
19.14
10.00
17.9
8.60
7.00
3.22
1.15
14.17
2.96
5.33
2.25
45.15
0.35
5.08
2.34
1.47
48.45
5.04
8.03
29.00
0.63
1.70
1.05
16.81
15.99
12.86
0.61
10.31
5.1 1
8.07
1.70
16.04
16.49
4.00
4.86
2.69
2.84
5.14
1 1.91
57.41
1.06
18.15
1.28
4.65
2.95
9.04
2.64
5.97
3.15
8.81
4.86
9.60
0.61
0.61
15.08
7.63
18.25
5.76
5.99
2.22
0.57
1 1.26
2.54
4.15
1.76
45.7
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
0.32
6.75
1.75
0.96
46.86
4.05
7.51
23.20
2.45
1.75
0.52
20.86
20.21
10.42
0.64
6.26
8.36
15.27
2.17
19.92
17.66
3.57
4.10
4.41
4.49
5.36
16.51
60.01
1.16
15.99
1.08
3.94
1.75
6.80
3.51
4.20
4.20
8.69
4.94
1 1.72
0.46
0.81
16.25
8.58
17.00
3.93
8.25
1.83
0.68
9.99
6.50
3.71
1.70
48.20
0.37
6.29
2.30
1.00
57.51
3.57
9.02
21.81
2.14
1.74
0.47
23.71
28.00
7.67
0.54
8.17
9.49
13.53
3.12
23.77
21.25
4.39
6.21
3.77
5.64
5.25
17.03
58.99
0.96
16.45
1.06
3.71
4.40
5.85
4.25
4.96
5.52
9.01
6.30
14.65
0.37
0.68
16.36
1 1.28
21.04
4.95
13.65
1.77
1.00
15.34
7.40
4.20
2.91
69.80
0.26
6.76
3.26
0.93
61.95
3.56
3.55
17.77
2.01
1.36
4.00
25.01
28.44
6.36
1.04
7.15
15.90
15.30
4.00
8.36
17.58
4.03
5.30
3.74
2.32
4.72
12.12
51.6
0.68
19.86
0.95
5.18
3.03
10.07
5.03
4.23
3.45
10.04
5.05
16.37
0.31
0.49
16.99
7.17
22.52
2.98
14.45
1.43
1.06
1 1.49
8.16
2.93
4.41
69.12
-52.7
-6.2
22.6
-20.5
50.0
-40.4
-66.1
-57.9
41.5
43.2
1 10.5
45.7
37.7
-60.4
96.2
-31.8
72.6
6.4
38.9
-65.8
130.1
-32.8
-41.4
38.0
-37.3
-27.7
46.4
-13.1
-52.8
21.7
-42.8
-6.8
-4.4
-42.8
42.5
-36.5
-18.4
29.5
-28.4
7.7
-68.0
-68.4
-1 1.2
-28.3
25.8
-65.3
106.4
-55.6
-7.8
-18.9
175.7
-45.0
96.0
53.1
425
2005 Biotechnology Stock Report (Continued)
Company
Symbol
Valentis
VaxGen
Vernalis
Vertex Pharma
ViaCell
Vical
Vion Pharma
VioQuest Pharma
Viragen
ViroPharma
Xcyte Therapies
Xenogen
XenoPort
XOMA Limited
Zonagen
ZymoGenetics
VLTS
VXGN
VNLS
VRTX
VIAC
VICL
VION
VQPH
VRA
VPHM
XCYT
XGEN
XNPT
XOMA
ZONA
ZGEN
426
12/31/04*
3/31/05
6/30/05
9/30/05
12/30/05
% YTD
2.50
17.00
3.20
10.57
7.00
4.70
4.69
0.80
1.00
3.25
2.76
7.00
10.50
2.59
4.33
23.00
2.66
12.48
2.45
9.36
7.54
4.00
2.85
0.68
0.68
2.34
1.23
5.20
–
1.00
3.05
15.26
2.83
10.85
2.13
16.85
10.65
4.88
2.17
0.70
0.70
6.95
0.72
3.75
10.64
1.68
3.83
17.60
2.38
14.50
2.43
22.35
5.80
4.92
2.17
1.05
0.50
20.8
0.48
3.07
16.50
1.76
5.75
16.50
2.14
8.75
2.05
27.67
5.62
4.20
1.65
0.75
0.45
18.50
0.67
3.15
17.95
1.60
5.1 1
16.99
-14.4
-48.5
-35.9
161.8
-19.7
-10.6
-64.8
-6.3
-55.0
469.2
-75.7
-55.0
71.0
-38.2
18.0
-26.1
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 British Biotechnology Stock Report
Company
Symbol
Acambis
Ark Therapeutics
Antisoma
Cambridge Antibody
Oxford Biomedica
Pharmagene
Phytopharm
Protherics
Provalis
SkyePharma
Vernalis Group
ACM
AKT
ASM
CAT
OXB
PGN
PYM
PTI
PRO
SKP
VER
12/31/04
3/31/05
6/30/05
9/30/05
12/30/05
% YTD
251.5
16.25
85.00
721.00
17.50
31.00
235.00
65.75
8.62
65.00
88.50
237.25
23.00
109.50
661.00
20.00
26.00
122.50
49.25
5.88
54.00
69.50
220.50
18.52
103.00
643.50
33.50
21.50
85.00
58.50
3.38
55.50
62.75
238.00
20.80
104.75
744.00
45.75
23.40
51.35
54.75
5.25
41.00
73.25
208.75
19.05
103.00
698.00
30.25
16.00
53.00
82.75
1.70
50.50
61.00
-17.0
17.2
21.2
-3.2
72.9
-48.4
-77.4
25.9
-80.3
-22.3
-31.1
Public biotechnology companies are listed on the London Stock Exchange. Prices are denoted in pence.
% YTD = Percent change in stock price between 12/31/04 and 12/30/05.
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
427
2005 Canadian Biotechnology Stock Report
Company
Symbol
Adherex Technologies
Angiotech Pharma
AnorMED
Bioniche Life Sciences
Chromos Molecular
ConjuChem
Cangene
Cardiome Pharma
Ecopia Biosciences
Hemosol
IBEX Technologies
ID Biomedical
Inex Pharma
Inflazyme Pharma
Lorus Therapeutics
Medicure
Bioms Medical
Neurochem
Oncolytics Biotech
Resverlogix
Stressgen Biotech
Theratechnologies
YM Biosciences
AHX
ANP
AOM
BNC
CHR
CJC
CNJ
COM
EIA
HML
IBT
IDB
IEX
IZP
LOR
MPH
MS
NRM
ONC
RVX
SSB
TH
YM
12/31/043*
3/31/05
6/30/05
9/30/05
12/30/05
% YTD
0.42
22.22
5.65
1.66
0.62
4.20
1 1.15
9.09
1.05
1.01
0.44
17.91
0.88
0.22
0.71
0.90
3.35
21.23
5.55
4.50
0.42
2.10
3.56
0.30
18.65
4.25
1.35
0.40
3.70
8.50
7.59
0.80
0.66
0.38
18.40
0.40
0.14
0.73
0.73
3.57
14.40
4.85
7.85
0.33
1.86
3.10
0.34
16.87
3.65
1.30
0.18
3.93
7.75
6.60
0.77
1.25
0.30
20.05
0.26
0.14
0.76
0.92
2.80
12.3
4.13
6.31
0.25
1.53
3.03
1.29
16.19
4.14
1.00
0.20
0.78
8.10
10.24
0.49
.90
0.23
34.84
0.12
0.13
0.74
1.16
2.84
14.65
4.48
7.55
0.35
1.24
3.49
0.96
15.34
4.77
0.70
0.16
1.09
10.20
1 1.72
0.55
0.08
0.29
34.99
0.14
0.12
0.31
1.56
2.52
16.59
5.24
6.80
0.56
1.07
3.66
128.6
-31.0
-15.6
-57.8
-74.2
-74.0
-8.5
28.9
-47.6
-92.1
-34.1
95.4
-84.1
-45.5
-56.3
73.3
-24.8
-21.9
-5.6
51.1
33.3
-49.0
2.8
Public biotechnology companies are listed on Canadian stock exchanges. Prices are denoted in Canadian dollars.
YTD = Percent change in stock price between 12/31/04 and 12/30/05.
428
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Price Performance Of Biotechnology Stocks
Ranked By Percent Change In Closing Price From 2005 Year-End
(Or IPO Price For IPOs In 2005)
Company
Symbol
12/31/04* 12/30/05 % YTD
I. STOCKS THAT GAINED VALUE
Deltagen
DGEN
.07
ViroPharma
VPHM
3.25
Myogen
MYOG
8.07
New River Pharma NRPH
14.96
Cerus
CERS
2.95
Momenta Pharma MNTA
7.06
Hana Bioscience
HBX
1.90
BioCryst Pharma
BCRX
5.78
Trinity Biotech
TRIB
2.96
Vertex Pharma
VRTX
10.57
Monogram Biosci MGRM
0.73
Northwest Bioth
NWBT
0.04
Celgene
CELG
26.52
Salix Pharma
SLXP
7.64
Arena Pharma
ARNA
6.70
Praecis Pharma
PRCS
1.90
Abgenix
ABGX
10.34
Threshold Pharma THLD
7.00
Questcor Pharma QSC
0.53
Unigene
UGNE
2.25
LifeCell
LIFC
10.22
Crucell
CRXL
13.77
Cubist Pharma
CBST
1 1.83
Alnylam Phama
ALNY
7.47
Columbia Labs
CBRX
2.65
Regeneron Pharma REGN
9.21
XenoPort
XNPT
10.50
Amylin Pharma
AMLN 23.36
Genentech
DNA
54.44
BioMarin Pharma
BMRN
6.39
CollaGenex Pharma CGPI
7.34
Durect
DRRX
3.28
United Therapeutics UTHR
45.15
Interleukin Genetics ILI
3.55
Gilead Sciences
GILD
34.99
Pharma Prod Dev PPDI
41.29
Aastrom Biosci
ASTM
1.42
Adolor
ADLR
9.92
AVI BioPharma
AVII
2.35
Senomyx
SNMX
8.28
Progenics Pharma PGNX
17.16
.40
18.50
30.09
51.84
10.15
22.04
5.87
16.75
8.16
27.67
1.87
0.10
64.8
17.58
14.21
4.00
21.49
14.45
1.04
4.41
19.04
25.6
21.24
13.36
4.65
15.90
17.95
39.92
92.50
10.78
12.07
5.07
69.12
5.35
52.57
61.95
2.1 1
14.60
3.45
12.12
25.01
471.40
469.23
272.86
246.52
244.07
212.18
208.95
189.79
175.68
161.78
156.16
150.00
144.34
130.10
1 12.09
1 10.53
107.83
106.43
96.23
96.00
86.30
85.91
79.54
78.85
75.47
72.64
70.95
70.89
69.91
68.70
64.44
54.57
53.09
50.70
50.24
50.04
48.59
47.18
46.81
46.38
45.75
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Company
Symbol
Acadia Pharma
ACAD
Human Genome Sci HGSI
Lifecore Biomedical LCBM
Pharsight
PHST
Aspreva
ASPV
Sonus Pharma
SNUS
Pharmos
PARS
Repligen
RGEN
Savient Pharma
SVNTE
Protein Design Labs PDLI
Alkermes
ALKS
Chiron
CHIR
Biopure
BPUR
IDEXX Labs
IDXX
OraSure Techno
OSUR
Affymetrix
AFFX
Stratagene
STGN
MedImmune
MEDI
Manhattan Pharma MHA
Medarex
MEDX
Neurocrine Biosci NBIX
Cephalon
CEPH
Keryx Biopharma KERX
InterMune
ITMN
Theravance
THRX
Cygnus
CYGN
Amgen
AMGN
Palatin Techno
PTN
Genzyme
GENZ
Serono
SRA
Nastech Pharma
NSTK
Cholestech
CTEC
Bruker BioSci
BRKR
eXegenics
EXEG
Novavax
NVAX
Zonagen
ZONA
Anadys Pharma
ANDS
Digene
DIGE
DepoMed
DEPO
Generex Biotech
GNBT
Metabasis Thera
MBRX
Albany Molecular AMRI
Geron
GERN
12/31/04* 12/30/05
6.77
5.90
1 1.26
0.95
1 1.00
3.53
1.42
2.88
2.71
20.66
14.09
33.33
0.59
54.59
6.72
36.55
7.75
27.1 1
0.97
10.78
49.3
50.88
1 1.57
13.26
17.9
0.12
64.15
2.66
58.07
16.32
12.10
8.20
4.03
0.34
3.26
4.33
7.49
26.15
5.40
0.75
7.25
1 1.14
7.97
9.85
8.56
16.22
1.36
15.72
5.03
2.01
4.00
3.74
28.44
19.12
44.44
0.78
71.98
8.83
47.75
10.04
34.98
1.25
13.87
62.73
64.74
14.64
16.76
22.52
0.15
78.86
3.26
70.78
19.86
14.71
9.92
4.86
0.41
3.85
5.1 1
8.80
29.17
6.00
0.83
8.00
12.15
8.61
% YTD
45.49
45.08
44.05
43.16
42.91
42.49
41.55
38.89
38.01
37.66
35.70
33.33
32.20
31.86
31.40
30.64
29.55
29.03
28.87
28.66
27.24
27.24
26.53
26.40
25.81
25.00
22.93
22.56
21.89
21.69
21.57
20.98
20.60
20.59
18.10
18.01
17.49
1 1.55
1 1.1 1
10.67
10.34
9.07
8.03
429
2005 Biotechnology Stock Report (Continued)
12/30/05
% YTD
Company
4.02
45.21
1.52
15.20
23.00
14.38
7.81
5.79
0.88
13.26
8.04
7.80
1.63
3.41
4.34
48.79
1.64
16.37
24.73
15.30
8.26
6.12
0.92
13.86
8.40
8.03
1.65
3.44
7.96
7.92
7.89
7.70
7.52
6.40
5.76
5.70
4.55
4.52
4.48
2.95
1.23
0.88
I. STOCKS THAT LOST VALUE
Large Scale Biology LSBC
6.30
MacroChem
MCMP
0.73
Immune Response IMNR
1.61
Aphton
APHT
3.1 1
CancerVax
CNVX
10.85
Axonyx I
AXYX
6.20
Alteon
ALT
1.31
Access Pharma
AKC
3.54
Hemispherx
HEB
12.02
Cellegy Pharma
CLGY
2.87
Miravant Medical MRVT
1.01
Ortec Intl
ORTN
0.97
BioTime
BTIM
1.51
EPIX Medical
EPIX
17.91
Nabi Biopharma
NABI
14.65
Cytogen
CYTO
1 1.52
Xcyte Therapies
XCYT
2.76
Cell Therapeutics CTIC
8.14
Ciphergen
CIPHE
4.30
Neose Techno
NTEC
6.72
Corgentech
CGTK
8.28
Inspire Pharma
ISPH
16.77
Genelabs Techno GNLBD
6.00
Targeted Genetics TGEN
1.55
Tapestry Pharma
TPPH
0.97
Pharmacyclics
PCYC
10.47
Rigel Pharma
RIGL
24.42
CombiMatrix Group CBMX
3.97
Third Wave Techno TWTI
8.60
430
0.1 1
0.02
0.08
0.34
1.38
0.83
0.18
0.52
2.17
0.52
0.19
0.19
0.31
4.04
3.40
2.74
0.67
2.18
1.18
1.93
2.45
5.10
1.85
0.49
0.31
3.55
8.36
1.37
2.98
-98.25
-97.26
-95.03
-89.07
-87.28
-86.61
-86.26
-85.31
-81.95
-81.88
-81.19
-80.41
-79.47
-77.44
-76.79
-76.22
-75.72
-73.22
-72.56
-71.28
-70.41
-69.59
-69.17
-68.39
-68.04
-66.09
-65.77
-65.49
-65.35
Vion Pharma
Nanogen
NeoRx
Advancis Pharma
OSI Pharma
Ergo Science
QLT
North American Sci
Cypress Bioscience
Pharmion
DOR BioPharma
Aradigm
Memory Pharma
CuraGen
Genaera
La Jolla Pharma
Titan Pharma
Helix Biomedix
Viragen
Xenogen
Cyanotech
Cardiovascular Bio
Genitope
Antigenics
Lexicon Genetics
Sequenom
Oxis Intl
Alliance Pharma
Martek Biosciences
Immunicon
Matritech
Dendreon
VaxGen
NitroMed
Dynavax Techno
Incyte
Enzon Pharma
Diversa
Tripos
GTx
Discovery Partners
SIGA Technologies
Solexa
Inovio Biomedical
EXACT Sciences
Favrille
Company
Emisphere Techno
Gen-Probe
GTC Biothera
Tanox
CV Therapeutics
Renovis
deCODE genetics
ArQule
AutoImmune
Embrex
Inhibitex
Accelrys
GenVec
Avanir
Symbol
EMIS
GPRO
GTCB
TNOX
CVTX
RNVS
DCGN
ARQL
AIMM
EMBX
INHX
ACCL
GNVC
AVN
12/31/04*
Symbol
VION
NGEN
NERX
AVNC
OSIP
ERGO
QLTI
NASI
CYPB
PHRM
DOR
ARDM
MEMY
CRGN
GENR
LJPCD
TTP
HXBM
VRA
XGEN
CYAN
CVBT
GTOP
AGEN
LEXG
SQNM
OXIS
ALLP
MATK
IMMC
MZT
DNDN
VXGN
NTMD
DVAX
INCY
ENZN
DVSA
TRPS
GTXI
DPII
SIGA
SLXA
INO
EXAS
FVRL
12/31/04*
4.69
7.36
2.09
3.82
74.85
2.44
16.08
5.39
14.06
42.21
0.64
1.73
5.32
7.16
3.42
8.35
3.22
1.75
1.00
7.00
1.44
10.00
17.04
10.12
7.76
1.44
0.55
0.19
51.2
6.98
1.06
10.78
17.00
26.65
8.00
9.99
13.72
8.74
5.33
13.49
4.71
1.66
17.59
3.94
3.83
7.00
12/30/05
1.65
2.61
0.75
1.38
28.04
0.93
6.36
2.15
5.78
17.77
0.27
0.73
2.28
3.08
1.50
3.70
1.43
0.78
0.45
3.15
0.65
4.55
7.95
4.76
3.65
0.68
0.26
0.09
24.64
3.43
0.53
5.42
8.75
13.95
4.21
5.34
7.40
4.80
2.93
7.56
2.65
0.95
10.07
2.27
2.21
4.05
% YTD
-64.82
-64.54
-64.1 1
-63.87
-62.54
-61.89
-60.45
-60.1 1
-58.89
-57.90
-57.81
-57.80
-57.14
-56.98
-56.14
-55.69
-55.59
-55.43
-55.00
-55.00
-54.86
-54.50
-53.35
-52.96
-52.96
-52.78
-52.73
-52.63
-51.88
-50.86
-50.00
-49.72
-48.53
-47.65
-47.38
-46.55
-46.06
-45.08
-45.03
-43.96
-43.74
-42.77
-42.75
-42.39
-42.30
-42.14
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
2005 Biotechnology Stock Report (Continued)
Company
Symbol
Immtech Intl
IMM
ImmunoGen
IMGN
Biomira
BIOM
Corcept Thera
CORT
Santarus
SNTS
Maxygen
MAXY
Northfield Labs
NFLD
Connetics
CNCT
Pharmacopeia Drug PCOP
EntreMed
ENMD
MGi Pharma
MOGN
XOMA Limited
XOMA
AuxiliumPharma
AUXL
Oscient Pharma
OSCI
Introgen Therapeu INGN
SciClone Pharma
SCLN
ISTA Pharma
ISTA
Spectrum Pharma SPPI
Cytokinetics
CYTK
Kosan Biosciences KOSN
Enzo Biochem
ENZ
Vernalis
VNLS
NPS Pharma
NPSP
Orchid Biosciences ORCH
Sangamo Biosci
SGMO
Biogen Idec
BIIB
Curis
CRIS
Regeneration Tech RTIX
Neurogen
NRGN
MannKind
MNKD
SuperGen
SUPG
Tercica
TRCA
OXiGENE
OXGN
Seattle Genetics
SGEN
Dyax Corp.
DYAX
Cell Genesys
CEGE
ImmuCell
ICCC
CytRx
CYTR
Array BioPharma
ARRY
ZymoGenetics
ZGEN
ImClone Systems IMCL
DUSA Pharma
DUSA
Aeolus Pharma
AOLS
Carrington Labs
CARN
Corautus Genetics VEGF
Boston Life Sci
BLSI
12/31/04*
1 1.99
8.84
2.41
6.25
9.04
12.79
22.55
24.29
5.97
3.24
28.01
2.59
8.85
3.65
8.44
3.70
10.12
6.66
10.25
6.93
19.47
3.20
18.28
1 1.50
6.00
66.61
5.22
10.48
9.36
15.75
7.05
10.00
5.50
6.53
7.22
8.10
7.16
1.40
9.52
23.00
46.08
14.30
1.25
6.13
5.38
2.85
12/30/05
6.94
5.13
1.40
3.65
5.30
7.50
13.40
14.45
3.56
1.94
17.15
1.60
5.50
2.27
5.27
2.32
6.36
4.23
6.52
4.42
12.42
2.05
1 1.84
7.65
4.03
45.28
3.55
7.15
6.56
1 1.26
5.05
7.17
3.97
4.72
5.27
5.93
5.25
1.03
7.01
16.99
34.24
10.77
0.95
4.73
4.16
2.23
% YTD
-42.12
-41.97
-41.91
-41.60
-41.37
-41.36
-40.58
-40.51
-40.37
-40.12
-38.77
-38.22
-37.85
-37.81
-37.56
-37.30
-37.15
-36.49
-36.39
-36.22
-36.21
-35.94
-35.23
-33.48
-32.83
-32.02
-31.99
-31.77
-29.91
-28.51
-28.37
-28.30
-27.82
-27.72
-27.0 1
-26.79
-26.68
-26.43
-26.37
-26.13
-25.69
-24.69
-24.00
-22.84
-22.68
-21.75
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Company
Symbol
Ariad Pharma
Encysive Pharma
Peregrine Pharma
Celera Genomics
Millennium Pharma
ViaCell
Alexion Pharma
icagen
Avax Techno
Trimeris
Neurobiological
Nektar Therap
DOV Pharma
AEterna Zentaris
StemCells
Neurochem
CEL-SCI
Nuvelo
Compugen
Genta
Cortex Pharma
Discovery Labs
AtheroGenics
Valentis
NeoPharm
GPC Biotech
Sepracor
Acusphere
Insmed
Draxis Health
Cepheid
IntraBiotics Pharma
ISIS Pharma
CoTherix
Telik
Onyx Pharma
Vical
Allos Therapeutics
Critical Theraptcs
Indevus Pharma
Gene Logic
Osteotech
Transgenomic
Myriad Genetics
Avigen
Simulations Plus
ARIA
ENCY
PPHM
CRA
MLNM
VIAC
ALXN
ICGN
AVXT
TRMS
NTII
NKTR
DOVP
AEZS
STEM
NRMX
CVM
NUVO
CGEN
GNTA
COR
DSCO
AGIX
VLTS
NEOL
GPCB
SEPR
ACUS
INSM
DRAX
CPHD
IBPI
ISIS
CTRX
TELK
ONXX
VICL
ALTH
CRTX
IDEV
GLGC
OSTE
TBIO
MYGN
AVGN
SLP
12/31/04*
7.43
9.93
1.17
13.75
12.14
7.00
25.20
8.00
0.31
14.17
4.42
20.24
18.05
6.26
4.23
17.53
0.60
9.85
5.15
1.76
2.71
7.93
23.56
2.50
12.51
14.21
59.37
6.13
2.20
4.96
9.94
4.08
5.90
1 1.92
19.14
32.39
4.70
2.40
8.00
5.96
3.68
5.50
1.15
22.51
3.26
5.56
12/30/05
5.85
7.88
0.93
10.96
9.70
5.62
20.25
6.45
0.25
1 1.49
3.59
16.46
14.68
5.10
3.45
14.31
0.49
8.1 1
4.26
1.46
2.28
6.69
20.01
2.14
10.79
12.33
51.60
5.34
1.92
4.33
8.78
3.61
5.23
10.58
16.99
28.80
4.20
2.15
7.18
5.38
3.35
5.01
1.06
20.79
3.03
5.18
% YTD
-21.27
-20.64
-20.51
-20.29
-20.10
-19.71
-19.64
-19.38
-19.35
-18.91
-18.78
-18.68
-18.67
-18.53
-18.44
-18.37
-18.33
-17.66
-17.28
-17.05
-15.87
-15.64
-15.07
-14.40
-13.75
-13.23
-13.09
-12.89
-12.73
-12.70
-1 1.67
-1 1.52
-1 1.36
-1 1.24
-1 1.23
-1 1.08
-10.64
-10.42
-10.25
-9.73
-8.97
-8.91
-7.83
-7.64
-7.06
-6.83
431
2005 Biotechnology Stock Report (Continued)
Company
Symbol
AVANT Immuno
AVAN
VioQuest Pharma VQPH
Pain Therapeutics PTIE
Insite Vision
ISV
Sirna Therapeutics RNAI
Ligand Pharma
LGND
Integra LifeSciences IART
Immunomedics
IMMU
Flamel Techno
FLML
ICOS
ICOS
Exelixis
EXEL
Immucor
BLUD
Invitrogen
IVGN
Idenix Pharma
IDIX
432
12/31/04*
2.01
0.80
7.21
0.88
3.17
1 1.64
36.93
3.04
19.49
28.28
9.50
23.51
67.13
17.15
12/30/05
1.88
0.75
6.76
0.83
3.03
1 1.15
35.46
2.92
18.88
27.63
9.42
23.36
66.72
17.1 1
% YTD
-6.47
-6.25
-6.24
-5.68
-4.42
-4.21
-3.98
-3.95
-3.13
-2.30
-0.84
-0.64
-0.61
-0.23
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
Tracking The Overall Performance Of
The 279 Stocks In BioWorld’s Universe
BioWorld Financial Watch has tracked the price performance of biotechnology and biotech-related stocks on a weekly basis since July 1994. Since
Aug. 8, 1994, BioWorld Financial Watch also has published data indicating
the average percent change of all the stocks listed on U.S. exchanges both
on a week-to-week basis and on a year-to-date basis.
For the stocks included in BioWorld Financial Watch’s 2005 stock indicator, see the list on page 421. The graph on page 435 plots the change in that
indicator (the average percent change in the stocks, year to date) on a
monthly basis throughout 2005.
Of the 279 stocks included in the list, the average percent change
between Dec. 31, 2004, and Dec. 30, 2005, was a loss of 2.09 percent (on a
non-market-weighted basis). This average does not include securities traded on the Toronto Stock Exchange or London Stock Exchange.
Of the 282 stocks included in the list, the average percent change
between Dec. 31, 2003, and Dec. 31, 2004, was a gain of 2.5 percent
Of the 261 stocks included in the 2003 list, the average percent change
between Dec. 31, 2002, and Dec. 31, 2003, was a gain of 120.8 percent.
Of the 274 stocks included in the 2002 list, the average percent change
between Dec. 31, 2001, and Dec. 31, 2002, was a loss of 51.05 percent.
Of the 280 stocks included in the list in 2001, the average percent
change between Dec. 31, 2000, and Dec. 31, 2001, was a gain of 3.17 percent.
Of the 279 stocks included in the list in 2000, the average percent
change between Dec. 31, 1999, and Dec. 31, 2000, was a gain of 27.52 percent.
By contrast, the stocks that were included in this list for calendar year
1999 did even better. They gained an average of 97.57 percent. The average
change in 1998 was a loss of 1 1.53 percent. For 1997, it was a loss of 1.87 percent.
Although 1998 and 1997 weren’t very good years for biotech stock per-
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
433
formance, 1996 was markedly better. The 286 stocks that were included in
the list for the calendar year of 1996 gained an average of 17.94 percent.
Also, a full 53 percent of the stocks either gained value in 1996 or ended the
year unchanged.
But 1995 was an outstanding year for biotech stocks. The 286 stocks
that were included in the list for the calendar year of 1995 gained an average of 96.24 percent from the end of 1994 to the end of 1995; also, the vast
majority of the stocks (81 percent) either gained value during 1995 or ended
the year unchanged.
The BioWorld Stock Indicator measures the average percent change year
to date in biotech and biotech-related stocks that are covered weekly in
BioWorld Financial Watch. The Friday closing price of each stock on the list
is compared either to its 2004 closing price (12/31/04) or its IPO price (if the
stock started trading in 2005) and expressed as a percent change. Then the
percent changes for all stocks on the list are added and divided by the total
number of stocks listed. Because these averages are not weighted in any
way and do not take into account the market capitalization for each company on the list, they cannot be considered true indices. Instead, they serve as
indicators of the sector’s performance.
For comparison, we also have charted the performance in 2005 of a
standard index, the Nasdaq Biotech Index. The index is market-value
weighted, with the representation of each stock in the index being proportional to its closing price times the total number of shares outstanding, relative to the total market value of the index. ■
434
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
BioWorld Stock Indicator 2005
Average Percent Change YTD
9
6
3
0
-3
-6
-9
-12
-15
-18
-21
-24
-27
-30
12 1/1 1/2 2/1 2/2 3/1 3/2 4/8 4/2 5/6 5/2 6/3 6/1 7/1 7/1 7/2 8/1 8/2 9/9 9/2 10 10 11 11 12 12 12
/ 31 4/ 8/ 1/ 5/ 1/ 5/ /2 2/ /2 0/ /2 7/ /2 5/ 9/ 2/ 6/ /2 3/ / 7/ / 21 / 4/ / 18 / 2/ / 16 / 30
/20 200 200 200 200 200 200 005 200 005 200 005 200 005 200 200 200 200 005 200 200 /20 200 /20 200 /20 /20
04 5 5 5 5 5 5
5
5
5 5 05 5 05 5 05 05
5
5 5 5 5
Date
Nasdaq Biotech Index 2005
Average Percent Change YTD
860
840
820
800
780
760
740
720
700
680
660
640
620
600
12 1/1 1/2 2/1 2/2 3/1 3/2 4/8 4/2 5/6 5/2 6/3 6/1 7/1 7/1 7/2 8/1 8/2 9/9 9/2 10 10 11 11 12 12 12
/31 4/ 8/ 1/ 5/ 1/ 5/ /0 2/ /0 0/ /0 7/ /0 5/ 9/ 2/ 6/ /0 3/ /7/ /21 /4/ /18 /2/ /16 /30
/04 05 05 05 05 05 05 5 05 5 05 5 05 5 05 05 05 05 5 05 05 /05 05 /05 05 /05 /05
Date
BIOWORLD® BIOTECHNOLOGY STATE OF THE INDUSTRY REPORT 2006
435