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  • FINANCIAL NEWS: Provalis issues earnings warning

    Metabolic and infectious diseases company Provalis (LSE:PRO; PVLS) said that sales for the fourth quarter ending June 30 will be about 20% lower than the expected L11.8 million ($17.2 million). The company reported that…

    Published on 5/23/2002
  • FINANCIAL NEWS: Simon joins Salomon Smith Barney

    Mark Simon left his banker post at Robertson Stephens and joined Salomon as managing director and U.S. head of life science investment banking. Last month, FleetBoston Financial said it was planning to sell boutique …

    Published on 5/23/2002
  • FINANCIAL NEWS: Avera raises $16 million

    Avera (San Diego, Calif.) raised $16 million in a venture round led by Frazier Healthcare Ventures. Other investors included Bay City Capital; InterWest Partners; Windamere Venture Partners; St. Paul Venture Capital; …

    Published on 5/22/2002
  • FINANCIAL NEWS: ESP Pharma raises $28 million

    Specialty pharma company ESP Pharma (Flanders, N.J.) raised $28 million in a venture financing. Investors included Domain Associates; Apax Partners; and New Enterprise Associates. The company also announced that it …

    Published on 5/22/2002
  • FINANCIAL NEWS: Bioenvision raises $17.8 million

    BIOV raised $17.8 million in a private placement of series A convertible preferred stock led by Perseus-Soros Biopharmaceutical Fund. Other investors included OrbiMed Advisors; DWS Investments; Merlin BioMed; and other …

    Published on 5/20/2002
  • FINANCIAL NEWS: MicroChips raises $16 million

    Drug delivery play MicroChips (Cambridge, Mass.) raised $16 million in a Series B round. Investors, led by IDG Ventures, included Polaris Venture; Care Capital; Boston University Community Technology Fund; and …

    Published on 5/20/2002
  • FINANCIAL NEWS: CDP Capital raises $65 million

    CDP Capital - Technology Ventures (formerly CDP Sofinov) raised $65 million in the first formal closing of its U.S. venture fund, which will invest in U.S.-based companies involved in biotech and life sciences, …

    Published on 5/17/2002
  • FINANCIAL NEWS: Inhale edges down on Exubera news

    INHL was off $0.50 to $7.35 on Friday after partner Pfizer (PFE) in an amended 10-Q filing removed Exubera dry powder pulmonary insulin from a list of anticipated regulatory 2002 filings. The product had been included …

    Published on 5/17/2002
  • FINANCIAL NEWS: Ark postpones IPO

    Ark Therapeutics (London, U.K.) postponed its London IPO due to adverse market conditions. "We were well received by institutional investors but by the end of the road show the general sentiment for U.K. listings had …

    Published on 5/16/2002
  • FINANCIAL NEWS: Deltagen raises $25.3 million

    DGEN raised $25.3 million through the sale of 5.5 million shares at $4.57. DGEN is identifying targets to treat cancer, metabolic disorders and inflammatory diseases.

    Published on 5/16/2002
  • FINANCIAL NEWS: GenPath raises $15.5 million

    GenPath Pharmaceuticals raised $15.5 million in a private financing led by MPM Capital. Other investors included Venrock; Prospect Ventures; Greylock and two private investors. GenPath (Boston, Mass.) is using its …

    Published on 5/16/2002
  • FINANCIAL NEWS: Genta falls on Genasense comments

    GNTA fell $1.48 (12%) to $11.01 on 2.4 million shares on Thursday, after U.S. Bancorp Piper Jaffray analyst Peter Ginsberg pushed back his timeline for Phase III data and NDA submission for GNTA's Genasense cancer …

    Published on 5/16/2002
  • FINANCIAL NEWS: MedImmune slips on altered EPS

    MEDI was off $1.80 to $31 on Thursday. On Wednesday after market close, the company reduced its previously reported first quarter EPS figure to $0.28 from $0.29 to reflect an adjusted royalty expense for its Synagis …

    Published on 5/16/2002
  • FINANCIAL NEWS: NPS down on Preos news

    NPSP was off $8.71 (28%) to $22.72 on 9.6 million shares on Thursday after the company said in its 10-Q filing that supply issues for its Preos injectable recombinant human parathyroid hormone may "curtail, modify or …

    Published on 5/16/2002
  • FINANCIAL NEWS: Abgenix slips on ABX-IL8 news

    ABGX was off $0.40 to $14.71 on 7.8 million shares on Wednesday. On Tuesday after market close, the company said it is discontinuing development of its ABX-IL8 human monoclonal antibody against IL-8 for psoriasis, after…

    Published on 5/15/2002
  • FINANCIAL NEWS: EsbaTech raises CHF10.5 million

    Functional genomics company EsbaTech (Zurich, Switzerland) raised CHF10.5 million ($6.6 million) in a second private round led by Lombard Odier & Cie's Immunology Fund. Other investors included Novartis Venture Fund; …

    Published on 5/15/2002
  • FINANCIAL NEWS: MedImmune alters 1Q EPS

    MEDI after market close reduced its previously reported first quarter EPS figure to $0.28 from $0.29 to reflect an adjusted royalty expense for its Synagis palivizumab for respiratory syncytial virus (RSV). The new EPS …

    Published on 5/15/2002
  • FINANCIAL NEWS: PowderJect up on earnings news

    PowderJect (LSE:PJP) was up 32.5p to 491p on Tuesday after the company announced that it had reached its first full year of profitability. PJP reported net income of 1.2 million ($1.8 million) compared to a loss of 18.8…

    Published on 5/14/2002
  • FINANCIAL NEWS: Athersys raises $16.2 million

    Functional genomics company Athersys (Cleveland, Ohio) raised $16.2 million in a private round. Investors included National City Equity Partners; Greenleaf Capital Management; and the Biomedical Sciences Investment Fund…

    Published on 5/13/2002
  • FINANCIAL NEWS: Barrier Therapeutics raises $46 million

    Barrier (Princeton, N.J.) raised $46 million in a spinout financing co-led by TL Ventures and JPMorgan. Other investors included Perseus-Soros; Baker Tisch; and KBC. Barrier was spun out of Johnson & Johnson (JNJ) to …

    Published on 5/10/2002
  • FINANCIAL NEWS: ViroPharma down on Picovir news

    VPHM was off $0.92 (22%) to $3.33 on Friday. On Thursday after market close, the company said it will receive by May 31 a non-approvable letter from the FDA for its Picovir pleconaril to treat viral respiratory …

    Published on 5/10/2002
  • FINANCIAL NEWS: MVM closes L100 million fund

    MVM (London, U.K.) announced the closing of its second fund at L100 million ($146.9 million). MVM International Life Sciences Fund II will specialize in start up and early stage funding rounds for life science companies…

    Published on 5/9/2002
  • FINANCIAL NEWS: NaPro pops on paclitaxel approval

    NPRO was up $2.44 (45%) to $7.92 on 4.4 million shares on Thursday. On Wednesday after market close, NPRO said the FDA approved its generic paclitaxel formulation to treat cancer (see BioCentury Extra, Wednesday May 9).…

    Published on 5/9/2002
  • FINANCIAL NEWS: Onyx raises $20 million

    ONXX raised $20 million in a private placement of 3 million shares at $6.75. Investors, which included Domain Associates; OrbiMed Advisors; Perceptive Life Sciences Fund; and the Federated Kaufmann Fund, also received …

    Published on 5/9/2002
  • FINANCIAL NEWS: Equity markets bounce

    The equity markets posted large gains on Wednesday, on the heels of positive earnings surprises by tech bellwether Cisco and conglomerate General Electric. The BioCentury 100 Index added 6.4% on Wednesday - ending a …

    Published on 5/8/2002

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