Biotech New Deal Calendar

WEEK OF MAY 29

ALPHATEC HOLDINGS INC. (Nasdaq: ATEC): initial public offering; estimated proceeds of $149.5 million; Carlsbad, Calif.-based Alphatec, a medical device company concentrating on products for the surgical treatment of spine disorders, will retain up to $65 million of proceeds; otherwise, proceeds will be used to expand sales and marketing activities, support research and development, fund the clearance or approval and subsequent commercialization of its near-term product candidates, repay borrowings under its revolving credit facility with Bank of the West and to repay a loan from chief executive officer Shunshiro "Roy" Yoshimi; any proceeds from a greenshoe are required to be used to redeem the company's new redeemable preferred stock; bookrunner is First Albany Capital.

LUNA INNOVATIONS INC. (Nasdaq: LUNA): initial public offering; proceeds estimated at $57.5 million; no other estimates given; Roanoke, Va.-based company is involved in research, development and commercialization of innovative technologies in molecular technology solutions and sensing solutions, such as magnetic resonance imaging, or MRIs; proceeds slated for working capital, capital expenditures, other corporate expenses and potential acquisitions; biggest pre-IPO investors are Carilion Health System with 35.5% and Luna founder, chief executive, treasurer and chairman Kent Murphy with 43.9%; bookrunner is ThinkEquity Partners LLC; co-managers are WR Hambrecht & Co. and Merriman Curhan Ford & Co.

NXSTAGE MEDICAL INC. (Nasdaq: NXTM): follow-on offering of 5.5 million shares and secondary offering of 500,000 shares by Sprout Group, Atlas Ventures, Federated Investors, Healthcare Investment Partners and/or principals in those funds; greenshoe for total of 825,000 shares available; Lawrence, Mass.-based medical device company makes systems for the treatment of end-stage renal disease and acute kidney failure; proceeds to fund continuing operations, including the expansion of sales and marketing programs and hiring additional personnel, working capital needs, including investment in its portable hemodialysis System One field equipment; joint bookrunners are Merrill Lynch & Co. and JPMorgan; Thomas Weisel Partners LLC and JMP Securities are co-managers.

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 towards 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.

BIONUMERIK PHARMACEUTICALS INC. (Nasdaq: BNPI): initial public offering of 5 million shares with 750,000 greenshoe; proposed at $14 to $16 per share; San Antonio-based company develops Tavocept as an investigational new drug to prevent or mitigate neuropathy and BNP 1350 as an antitumor chemotherapy drug; proceeds earmarked to complete Tavocept manufacturing and commercialization, advance phase 3 clinical trials for BNP 1350, working capital and other general corporate purposes; underwriters are UBS Investment Bank (books) with co-managers Needham & Co., Leerink Swann & Co., and Punk Ziegel & Co.

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.

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.

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.

REPLIDYNE INC. (Nasdaq: RDYN): initial public offering of common stock; estimated proceeds of $100 million; no other estimates given; Louisville, Colo., company is focused on anti-infective products; proceeds for clinical trials, research and development, future milestone payments to licensors and general corporate purposes; pre-IPO investors are HealthCare Ventures VI, LP and affiliates with 19.24%, TPG Biotechnology Partners, LP and affiliates with 12.46% and Morgenthaler Partners VII, LP with 10.48%; Merrill Lynch & Co. and Morgan Stanley are joint bookrunners; co-managers are Cowen & Co. and Pacific Growth Equities, LLC.

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.

FOLLOW-ON OFFERINGS

ADVANCED RESEARCH TECH INC. (Toronto: ARA): follow-on offering; filed to sell stock in the United States; Saint-Laurent, Quebec-based Advanced Research intends to use proceeds for the sale and distribution of its products and for the development of new products, including biomarkers, with the balance for working capital and general corporate purpose; underwriters are Salman Partners Inc., Canaccord Capital Corp. and Westwind Partners Inc.

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.

DEBT OFFERINGS

MILLIPORE CORP. (NYSE: MIL): approximately $900 million of debt; structure not determined yet; Billerica, Mass.-based bioprocess and bioscience products and services company to use proceeds to partly finance the $1.4 billion cash acquisition of Atlanta-based Serologicals Corp.; UBS Investment Bank has provided the debt commitment.

UPCOMING BANK CLOSINGS

MILLIPORE CORP. (NYSE: MIL): new credit facility; part of approximately $900 million of debt; overall structure not determined yet; Billerica, Mass.-based bioprocess and bioscience products and services company to use proceeds to partly finance the $1.4 billion cash acquisition of Atlanta-based Serologicals Corp.; UBS Loan Finance LLC.

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