Life
Science Deals AboundDecember 5, 2005
By Dr. Louis M. Scarmoutzos
Reprinted from The Business of Science, a periodic newsletter provided by MVS Solutions, Inc.
Notable Life Sciences Venture Capital (VC) & Equity Deals
Nanoplex Technologies, Inc. (Mountain View, CA), a developer of nanoparticle-based products for life sciences research, raised more than $2.5 million in Series B funding from Versant Venture Partners and individual investors. www.nanoplextech.com
CoreValve SA (Paris, France), a developer of a minimally invasive heart valve replacement, raised $24 million in Series B funding from Apax Partners and HealthCap. www.corevalve.com
Panacea Pharmaceuticals, Inc. (Gaithersburg, MD), a company focused on developing therapeutic and diagnostic products for cancer, raised $7 million in Series C round of financing. www.panaceapharma.com
Pepscan Systems BV (Lelystad, The Netherlands), a therapeutic vaccines development and peptide based discovery company, raised 5 million Euros (US$ 6 million) in first-round funding from a Netherlands´ group of investors. www.pepscan.com
Posit Science Corp. (San Francisco, CA), a neurology company, raised about $14.5 million in Series B funding from Aberdare Ventures, Draper Fisher Jurvetson and VSP Capital. www.positscience.com
Primera Biosystems, Inc. (Providence, RI), a developer of novel gene _expression analysis systems and assays, raised $11 million in Series A financing from a group of investors including MPM Capital, Burrill and Company, and the Malaysian Technology Development Corporation (MTDC). www.primerabio.com
Vitae Pharmaceuticals, Inc. (Fort Washington, PA), a small molecule drug developer, raised $15 million in Series C financing from Atlas Venture, New Enterprise Associates, Prospect Venture Partners, Venrock Associates and Wellcome Trust. www.vitaepharma.com
Notable Life Sciences Merger & Acquisition (M&A) Deals
Procyon Biopharma, Inc. (TSX: PBP), a publicly-traded biotech company developing therapeutics for cancer and HIV/AIDS, acquired Bioxalis Medica, Inc. (Montreal, Canada), for equity worth C$2 million ($1.6 million). www.procyonbiopharma.com
Tyco International Ltd. (NYSE: TYC) has agreed to acquire Vivant Medical, Inc. (Mountain View, CA), a developer of surgical devices to treat breast cancer, in a deal valued at $66 million in cash plus up to $35 million in milestone payments. www.tyco.com | www.vivantmedical.com
Vernalis PLC (NASDAQ: VNLS) has agreed to acquire Ionix Pharmaceuticals Ltd., a UK-based analgesic drug discovery company for stock valued at approximately Gbp12.5 million. www.vernalis.com | www.ionixpharma.com
Triax Holdings LLC, (an Allied Capital company) acquired Spear Pharmaceuticals, Inc. (Ft. Myers, FL), a generic dermatological drug manufacturer, for $77 million. www.alliedcapital.com | www.spearpharmaceuticals.com
Millipore Corp. (NYSE: MIL) has agreed to acquire NovAseptic AB, a Sweden-based provider of aseptic processing for manufacturing operations, for approximately Sek720 million ($91 million) www.millipore.com | www.novaseptic.se
Gyrus Group PLC (LSE: GYG) is acquiring American Cytoscope Makers, Inc. (ACMI) from Fox Paine & Co. The deal is valued at about $500 million (88% cash). ACMI is a Southborough, MA-based medical device company focused on urology and gynecology. www.gyrusplc.com | www.acmicorp.com | www.foxpaine.com
Xanodyne Pharmaceuticals, Inc. (Florence, KY) has won the bankruptcy auction for the pharmaceuticals division of aaiPharma Inc. (OTC BB: AAIIQ) at a purchase price of $209.25 million. www.xanodyne.com | www.aaipharma.com
Notable Life Sciences Initial Public Offering (IPO) & Secondary Offering Deals
TopoTarget A/S (Copenhagen, Denmark), a drug company focused on oncology, completed an IPO on the Copenhagen Stock Exchange (symbol: TOPO) raising Dk258.75 million (approx. $41.3 million). www.topotarget.com
CryoCor, Inc. (San Diego, CA), a maker of a catheter system for cardiac arrhythmias, priced 3.7 million common shares at $11 per share for a total IPO take of approximately $40.8 million (NASDAQ: CRYO). www.cryocor.com
Genomic Health, Inc. (Redwood City, CA), a developer of genome-based oncology diagnostics, has priced about 5 million common shares at $12 per share for an IPO take of approximately $60 million. The company trades on the NASDAQ under the ticker symbol GHDX. www.genomichealth.com
NxStage Medical, Inc., (Lawrence, MA), a medical device company focused on renal disease and acute kidney failure, has filed to raise $75 million of common stock on the NASDAQ under ticker symbol NXTM. The company has set its proposed IPO terms at 5.5 million common shares offered between $13 and $15 per share. www.nxstage.com
Adams Respiratory Therapeutics, Inc. (Chester, NJ), a drug company focused on respiratory diseases, priced 7.95 million common shares at $17 per share for a total IPO take of approximately $135.15 million (NASDAQ: ARXT). www.adamslaboratories.com
Advanced Life Sciences Holdings, Inc. (Woodridge, IL), a biopharmaceutical company focused on developing treatments for infectious disease, inflammation and oncology, priced seven million common shares at $5 per share for an IPO take of approximately $35 million. The company trades on the NASDAQ under the ticker symbol ADLS. www.advancedlifesciences.com
Predix Pharmaceuticals Holdings, Inc. (Lexington, MA), a small molecule drug developer targeting G-Protein Coupled Receptors (GPCRs), has filed to raise $70 million via an IPO of common stock. Predix plans to trade on the NASDAQ under ticker symbol PRDX. www.predixpharm.com
Louis
M. Scarmoutzos, Ph.D., or "Dr. Lou" as his colleagues and friends
fondly call him, is President and Founder of MVS Solutions, Inc.- a corporate
and technology development company focused on the biotech, chemistry,
drug, medical technology and related industries. He can be reached at
lscarmoutzos@mvssolutions.com or at (617) 283-2182.
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