Biotech New Deal Calendar

WEEK OF AUG. 21

VIRAGEN INC. (Amex: VRA): 67 million units, consisting of one share plus one five-year warrant to purchase one share; greenshoe for another 5.36 million units available; units are expected to be listed on the American Stock Exchange under the ticker VRA.U and, when separated the warrants are expected to trade under the ticker VRA.WS; Plantation, Fla.-based Viragene, with operations in the U.S., Scotland and Sweden, is focused on therapeutic proteins for the treatment of cancers and viral diseases; proceeds are earmarked to repay debt, research and development, sales and marketing, administrative expenses and working capital; bookrunner is Dawson James Securities, Inc.

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.

ACOLOGIX INC. (Tokyo): initial public offering of common stock; proceeds estimated at $115 million; V stock to be listed on the Mothers Section of the Tokyo Stock Exchange; underwriters, the number of shares to be offered and the price range have not been determined; Hayward, Calif., biotech is focused on the treatment of osteo-renal diseases, including diseases related to hard tissues such as bone, teeth and cartilage and diseases related to the kidneys and associated organs; proceeds will be used primarily to fund clinical trials, prepare a sales and marketing organization, fund preclinical research and development and general corporate purposes.

ACTIVBIOTICS INC. (Nasdaq ACTV): initial public offering of common stock; proceeds estimated at $46 million; no other estimates given yet; Lexington, Mass., biotech is focused on inflammatory diseases and bacterial infections; its lead product, Rifalazil, is an oral antibacterial in phase 3 clinical trials for pain, cramping or fatigue associated with peripheral arterial disease; two other products in phase 2 trials are M40403 for post-operative ileus and ABI-0043 for skin infections; HSBC Securities (USA) Inc. is bookrunner; Neeham Co. LLC is joint lead manager; BMO Capital Markets Corp. and Susquehanna Financial Group LLLP are co-managers.

AFFYMAX INC. (Nasdaq: AFFY):initial public offering; estimated proceeds of $115 million; Palo Alto, Calif.-based company is focused on peptide-based drugs; lead product candidate is Hematide for chronic kidney disease and cancer, which is in phase 2 trials; proceeds to support research and development for Hematide and other product candidates as well as for general corporate purposes; pre-IPO major investors are Apax Excelsior VI, LP and affiliates with 29.3%, MPM BioVentures II-QP, LP and related entities w4ith 16.37% and Sprout Capital IX, LP and affiliates with 15.26%; Morgan Stanley is bookrunner; Cowen & Co. is joint lead manager; Thomas Weisel Partners LLC and RBC Capital Markets as co-managers.

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.

EMERGENT BIOSOLUTIONS INC. (Nasdaq: EBSI): initial public offering of common stock; proceeds estimated at $86.25 million; no other estimates given; each share of common stock will include one series A junior participating preferred stock purchase right; Gaithersburg, Md., company, which develops immunobiotics, has BioThrax, which according to the company is the only anthrax vaccine approved by the Food and Drug Administration; proceeds to fund clinical trials, preclinical testing, construct a new manufacturing facility in Lansing, Mich., complete manufacturing facilities in Frederick, Md., and general corporate purposes; J.P. Morgan Securities Inc. is bookrunner; Cowen and Co. LLC is joint lead; HSBC Securities (USA) Inc. is co-manager.

HANSEN MEDICAL INC. (Nasdaq: HNSN): initial public offering; proceeds estimated at $86.25 million; Mountain View, Calif., biotech develops and manufactures medical robotics designed to position, manipulate and control catheters and catheter-based technologies; proceeds to be used for sales, marketing and general administrative activities, research and development, capital equipment, working capital and general corporate purposes; Morgan Stanley & Co. and J.P. Morgan Securities Inc. are joint bookrunners; Thomas Weisel Partners LLC and Leerink Swann & Co. are co-managers.

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.

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.

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.

XTENT INC. (Nasdaq: XTNT): initial public offering of common stock; estimated proceeds $103.5 million; no other estimates given; Menlo Park, Calif., medical devices firm is focused on drug-eluting stent systems for the treatment of coronary artery disease; proceeds earmarked for clinical trials, research and development, and expanding commercial infrastructure, including sales and marketing and manufacturing capacity expansion; Piper Jaffray & Co. (bookrunner), Cowen and Co. LLC, Lazard Capital Markets LLC and RBC Capital Markets Corp. are underwriters.

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