Biotech New Deal Calendar

WEEK OF JULY 3

MICRUS ENDOVASCULAR CORP. (Nasdaq: MEND): secondary offering of 3,001,108 shares; greenshoe of 450,166 shares available; sellers are PolyTechnos Medical Devices Ltd., which is liquidating its 6.79% stake with the sale of 965,936 shares, and HBM Bioventures (Cayman) Ltd., 515,438 shares that will reduce its stake in the company to 9.93% from 13.55%. Aureus Capital Partnes Ltd. also is selling 183,088 shares that will cut its stake to 3.86% from 5.15%; also, directors and officers are selling 304,275 shares that will reduce their interest in the company to 6.99% from 9.13%; in addition, other sellers include International Life Science Partners LP, 610,380 shares, and UBS AG, 165,000 shares; San Jose, Calif.-based Micrus develops, manufactures and markets implantable and disposable medical devices used in the treatment of cerebral vascular diseases and will receive no proceeds; joint bookrunners are A.G. Edwards, CIBC World Markets and Needham & Co LLC.

QUATRX PHARMACEUTICALS CO. (Nasdaq: QTRX): initial public offering of 6 million shares; greenshoe of 900,000 shares available; proposed at $11 to $13 per share; proceeds, estimated at $75.4 million at the midpoint of guidance including the full greenshoe, to be used for clinical trials and general corporate purposes; Ann Arbor, Mich.-based biotech focuses on compounds in the endocrine, metabolic and cardiovascular therapeutic areas; joint lead managers are Banc of America Securities (bookrunner) and Cowen & Co., co-managers are Lazard Capital Markets and Pacific Growth Equities, LLC.

IPOs ON THE HORIZON

ACHILLION PHARMACEUTICALS: (Nasdaq: ACHN): initial public offering; proceeds estimated at $75 million; no other estimates given; New Haven, Conn.-based biotech, focused on infectious diseases such as HIV and hepatitis C, to use proceeds to continue development of drug candidates; biggest pre-IPO investors are Atlas Venture Fund V, LP and affiliates with 22.11%, Schroder Ventures International Life Sciences Fund II with 19.30%, Advent International Corp. with 12.68% and Bear Stearns Health Innoventures, LP and affiliates with 12.30%; Cowen & Co. is bookrunner, CIBC World Markets is joint lead; JMP Securities is co-manager.

ALSIUS CORP. (Nasdaq: ICEY); initial public offering; proceeds estimated at $40.25 million; no other estimates given; Irvine, Calif., maker of devices to precisely control patient temperature in hospital critical care settings plans to use proceeds for sales and marketing, manufacturing, research and development and general corporate purposes; joint lead managers are RBC Capital Markets (bookrunner) and Harris Nesbitt; Leerink Swann & Co. is co-manager.

AMICUS THERAPEUTICS INC. (Nasdaq: AMTX): initial public offering; proceeds estimated at $86.25 million; no other estimates given; Cranbury, N.J., biotech develops small molecule, orally active pharmacological chaperones for the treatment of human genetic diseases; its lead product candidate, Amigal, for Fabry disease is in phase 2 clinical studies; proceeds will go toward the clinical development of Amigal and additional preclinical programs; pre-IPO investors include Prospect Venture Partners II, LP, New Enterprise Associates and Frazier Healthcare Ventures, each with 17%, CHL Medical Partners with 15.9% and entities affiliated with Canaan Partners with 15.5%; Morgan Stanley is bookrunner; Goldman, Sachs & Co. is joint lead manager; Pacific Growth Equities, LLC is co-manager.

AMPHASTAR PHARMACEUTICALS INC. (Nasdaq: AMPR): initial public offering of common stock; proceeds estimated at $115 million, but no per-share price range yet; the company issued 675,676 shares in a private placement in February 2005 at $14.80 per share; Rancho Cucamonga, Calif.-based company has 66 generic and branded injectable and inhalation products in the market, such as Primatene Mist; proceeds are earmarked to fund continued development of product candidates, to upgrade, renovate and equip an additional manufacturing and development building and general corporate purposes such as potential acquisitions; underwriters are Lehman Brothers, UBS Investment Bank (joint books) and Citigroup Global Markets Inc.

ARTES MEDICAL INC. (Nasdaq: ARTE): $75 million initial public offering of stock; Cowen & Co., Lazard Capital Markets (joint bookrunners), Stifel Nicolaus (co-manager); San Diego-based medical technology company develops and manufactures injectable aesthetic products for dermatology and plastic surgery markets; proceeds for sales and marketing for ArteFill, growth of manufacturing capabilities and clinical studies.

BIOVEX GROUP INC. (Nasdaq: BVEX): initial public offering of common stock; proceeds, estimated at $45 million, will be primarily used to fund the development of OncoVEX for solid tumors and ImmunoVEX, which is in phase 1 trials; Cambridge, Mass., clinical-stage biotech is focused on cancer and infectious disease; biggest pre-IPO investors are Merlin Biosciences and affiliates with 20.35%, Innoven with 13.32% and Credit Agricole Private Equity with 10.36%; bookrunner is Janney Montgomery Scott LLC; Stifel Nicolaus is co-manager.

CLEVELAND BIOLABS INC. (Nasdaq: CBLI): initial public offering of common stock; gross proceeds estimated at $13.8 million; Cleveland-based firm is focused on developing a drug to protect humans from the effects of exposure to radiation, whether as a result of military or terrorist acts or as a result of a nuclear accident; proceeds will be used to commercialize CBLB502 - a series of Protectans that are modified proteins of microbes and tumors that protect cells from apoptosis - to continue other drug development and for general corporate purposes; Sunrise Securities Corp. is bookrunner.

IMARX THERAPEUTICS INC. (Nasdaq: IMRX): initial public offering of common stock; gross proceeds estimated at $75 million; Tucson, Ariz., biopharmaceutical company focused on products for the treatment of ischemic stroke and vascular disease; largest pre-IPO investors are Evan and Susan Unger Family Trust with a 9.7% equity stake and Edson Moore Healthcare Ventures, Inc. with 7.0%; joint lead managers are CIBC World Markets (bookrunner) and Jefferies & Co.; First Albany Capital is co-manager.

LAB RESEARCH INC. (Toronto Stock Exchange): initial public offering spin-off from LAB International Inc.; LAB Research is a contract research organization subsidiary of Laval, Quebec-based LAB International; joint lead managers are Desjardins Securities Inc. and Orion Securities Inc.; Versant Partners Inc., Westwind Partners Inc., Jennings Capital Inc., Paradigm Capital Inc. and Oppenheimer & Co., Inc. also will be part of the syndicate; LAB International to seek shareholder approval at a special stockholder meeting June 26.

LIGHT SCIENCES ONCOLOGY INC. (Nasdaq: LSON.): initial public offering of common stock; proceeds estimated at $86.25 million; no other estimates given; Snoqualmie, Wash.-based company to use proceeds to fund research and development, capital expenditures, working capital and general corporate purposes; company is developing Light Infusion Therapy to treat solid cancer tumors; pre-IPO, Craig M. Watjen is the largest shareholder with 43.6% of preferred stock, followed by Light Sciences Corp. with 36.7%; Cowen & Co. and Wachovia Securities are joint bookrunners; Jefferies & Co. and Thomas Weisel Partners LLC are co-managers.

MOLECULAR INSIGHT PHARMACEUTICALS INC. (Nasdaq: MIPI): initial public offering; proceeds estimated at $57.5 million; Piper Jaffray and SG Cowen & Co. are joint bookrunners; Oppenheimer & Co. and Roth Capital Partners are in the syndicate; Cambridge, Mass.-based company concentrates on developing molecular imaging pharmaceuticals and targeted radiotherapeutics targeting cardiology, oncology and neurology.

OCULUS INNOVATIVE SCIENCES INC. (Nasdaq: OCLS): an estimated $80.5 million initial public offering; Petaluma, Calif.-based company develops and markets products for the prevention and elimination of infection in chronic and acute wounds; proceeds will be used to expand sales and marketing, to fund clinical trials and research as well as for general corporate purposes; A.G. Edwards and Jefferies & Co. are joint bookrunners and First Albany Capital and C.E. Unterberg, Towbin are co-managers.

OSIRIS THERAPEUTICS INC. (Nasdaq: OSIR): $80 million initial public offering; Deutsche Bank Securities (books), Leerink Swann & Co., Jefferies & Co.; Baltimore-based biotechnology company focused on medical conditions in the inflammatory, orthopedic and cardiovascular areas as well as adult stem cell therapy; proceeds to fund business growth, including clinical trials and preclinical research and development, repayment of a $20.6 million promissory note and general corporate purposes.

PERLEGEN SCIENCES INC. (Nasdaq: PERL): initial public offering of common stock; proceeds estimated at $115 million; no other estimates given; Mountain View, Calif., company, formed in late 2000 as a spinoff from Affymetrix Inc., develops genetically targeted medicines for therapeutic areas that include metabolic, cardiovascular, central nervous system and inflammatory diseases; current pipeline targets type 2 diabetes and dyslipidemia; pre-IPO majority owners are Affymetrix with 25.4%, Pfizer Overseas Pharmaceuticals with 13.3% and Maverick Capital with 8.1%; joint lead managers are Lehman Brothers (bookrunner) and Deutsche Bank Securities; co-managers are Piper Jaffray and Allen & Co. LLC.

PHARMASSET INC. (Nasdaq: VRUS): $75 million initial public offering of common stock; Banc of America Securities LLC and UBS Investment Bank (books), JMP Securities (co-manager); Princeton, N.J., clinical-stage pharmaceutical company working on novel drugs to treat viral infections; proceeds for clinical development programs.

SENORX INC. (Nasdaq: SENO) initial public offering; proceeds estimated at $86.25 million; no other estimates given; Aliso Viejo, Calif.-based company is focused on medical devices for the diagnosis and treatment of breast cancer; its EnCor system, a minimally invasive vacuum-assisted breast biopsy system, received clearance from the FDA and was launched in November 2005; proceeds will be used to repay interest on notes that will be converted into stock as well as for research and development; Banc of America Securities LLC and Citigroup are joint bookrunners; Cowen & Co. and First Albany Capital are co-managers.

SUCAMPO PHARMACEUTICALS INC. (Nasdaq: SCMP): initial public offering of up to $86.25 million of common stock; Banc of America Securities LLC, Deutsche Bank Securities (joint books), Leerink Swann & Co.; Bethesda, Md., pharmaceutical company focused on the discovery, development and commercialization of drugs based on prostones, a class of compounds derived from functional fatty acids that occur naturally in the human body; will use $20 million of proceeds to fund its share of development activities for Amitiza for the treatment of additional gastrointestinal indications, $20 million to fund development activities for SPI-8811 and SPI-017, including a phase 2 clinical trial of SPI-8811 for the prevention and treatment of non-steroidal anti-inflammatory drug-induced ulcers, up to $25 million to fund expansion of sales and marketing infrastructure in the United States, additional clinical trials and sales and marketing efforts by Sucampo Europe and Sucampo Japan, and development activities for other prostone treatments.

TRUBION PHARMACEUTICALS INC. (Nasdaq: TRBN): initial public offering of up to $86.25 million of common stock; Morgan Stanley (books), Banc of America Securities LLC, Pacific Growth Equities, LLC, Lazard Capital Markets; Seattle-based biopharmaceutical company developing a pipeline of product candidates to treat autoimmune disease and cancer; proceeds to create a public market for common stock, to facilitate future access to public equity markets and to obtain additional capital.

WARNER CHILCOTT HOLDINGS CO. LTD. (Nasdaq: WCRX): $1 billion initial public offering of class A stock; Goldman, Sachs & Co. (books), Credit Suisse, JPMorgan, Morgan Stanley (joint leads), Deutsche Bank Securities, Bear, Stearns & Co. Inc., Merrill Lynch & Co., Wachovia Securities, UBS Investment Bank; Hamilton, Bermuda-based specialty pharmaceutical company focused on products in women's health care and dermatology, specifically hormonal contraceptives and hormone therapies; will use proceeds to repay debt and for general corporate purposes.

FOLLOW-ON OFFERINGS

ICON PLC (Nasdaq: ICLR): follow-on offering of 1,096,054 of American Depositary Shares; also a secondary offering of 1.5 million ADS by director Ronan Lamb and Poplar Ltd., which is controlled by chairman John Climax; pre-offering, Lamb held 952,470 shares, or a 6.8% equity stake in Icon, and Poplar held 1,494,892 shares, or a 10.7% stake; Dublin, Ireland-based Icon is a contract research organization, or CRO, focusing on phase 1 through 4 clinical trials management, study design, laboratory services and drug development support; proceed, estimated at $52.8 million to company, will be used for general corporate purposes.

MEDICALCV INC. (OTCBB: MDCV): follow-on offering; estimated proceeds of $34.5 million; Inver Grove Heights, Minn., maker of the Atrilaze laser-powered surgical ablation system to use proceeds for final product development and product enhancements, continuation of clinical studies and the pursuit of additional regulatory approvals; bookrunner is C.E. Unterberg, Towbin; syndicate will include Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC.

UPCOMING BANK MEETINGS

KENDLE INTERNATIONAL INC.: Bank meeting June 22; $225 million senior secured credit facility; UBS; $25 million five-year revolver; $200 million six-year term loan; help fund purchase of Charles River Laboratories International Inc.'s phase 2-4 Clinical Services business; Cincinnati-based clinical research organization.

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