CRISIS, WHAT CRISIS? ‘STRUGGLING’ BIOTECHS RAISE $370m-$500m
April 5th 2009 23:31
Thursday April 2, 2009
Daily news on ASX-listed biotechnology companies
* ASX, BIOTECH UP; UNIVERSAL BIO UP 18%, ANTISENSE DOWN 6%
* CRISIS, WHAT CRISIS? ‘STRUGGLING’ BIOTECHS RAISE $370m-$500m
* STUDY ‘VALIDATES’ PRANA ALZHEIMER’S STRATEGY
* STEM CELL SELLS ASSETS TO STEMCELLS FOR UP TO 2,650,000 SHARES
* AVITA PRODUCT SALES UP 72%; MANUFACTURING ON SCHEDULE
* INCITIVE RAISES $784k
* MEDICAL THERAPIES SHARE ISSUE EGM
* PROGEN SHRUGS OFF COUP, MERGER DISTRACTIONS; BACK TO WORK
* ADVANCED OCULAR TAKES 80% OF REVERSE TAKEOVER TARGET
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CAPITAL RAISINGS
Despite claims that biotechnology is about to disappear and there are no funds available for the high risk sector, at least $370 million has been raised in the past 12 months.
Biotech Daily has compiled the list below of known capital raisings published by companies in the sector. It is believed that private biotechnology funds and life sciences companies have raised other significant funds, but that data is not publicly available.
The largest amount raised was the closing of the GBS Venture Partners fund with $122.5 million of which $11.5 million is also included in Peplin’s $46 million October 2008 raising.
Brandon Capital has raised $50 million. Intersuisse and Strategic Life Sciences have been active but have not disclosed the amounts they have raised. Biotech Daily called Starfish Ventures but did not have a comment at the time of publication.
There may be some double accounting in that funds raise the money and then contribute to company raisings, but a total of at least $42.914 million has been raised by listed companies since January this year not including GBS Ventures’ $122.5 million.
The cumulative total raised over the last 12 months not including venture capital raisings is $176.917 million, with at least a further undisclosed $31 million raised by other venture capital firms. A further private raising of up to $100 million is expected “soon”.
California’s Essex Woodlands Health Ventures raised $US900 million ($A1,280 million) for drug, device and service companies in North America, Europe and Asia on March 30, 2009 and the Swiss and UK-based Index Ventures closed a EUR350 million ($A661 million) fund for early stage investment in Europe, the US and Israel on March 3, 2009.
For the record:
CBio $1.5m
Incitive $784k; April 2, 2009
Polartechnics $2.5m; Apr 1, 2009
Biomd $426k; Apr 1, 2009
Mesoblast $10.81m; Mar 30, 2009
GBS Venture Partners $122.5m; Mar 19, 2009
Healthlinx $3m; Mar 25, 2009; $144k; Mar 24, 2009
Prima $12m; Mar 11, 2009
Tissue Therapies $1.2m; Mar 4, 2009
Eastland $4-6m (being raised); Mar 3, 2009
Medical Therapies $450k; Feb 23, 2009
Karmelsonix $1m; Feb 23 2009
Bionomics $4m; Feb 5, 2009
Ellex $1.6m; Jan 16, 2009
Benitec $1m; Jan 2009
Safety Medical $9.5m; Dec 17, 2008
OMI $503k; Nov 7, 2008
Peplin $US30.7m ($A46m); Oct 2008
Fluorotechnics $9m; Oct 2008
Chemgenex $13m; Sep 17, 2008
Spinifex $12m; Sep 2008
Heartware $30m; May 2008
Phosphagenics $9m; May 2008
Genera Biosystems $5m; June 11, 2008
To read all these articles in full, subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
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