pharma biotech m a transactions 2005-2012

HBM Pharma/Biotech M+A Report - List of Transactions Since 2005 Information on "VC/PE-Investment", "Clinical Stage" and "Therapeutic Area" only complete for VC/PE-backed companies

HBM Partners AG / July 2012

Year Target company Country VC/PE Buyer Country Cash / shares Therapeutic Area(s) of Target Company

2005 Hexal Pharma (Eon Labs) G Private Novartis CH 8300 8300 - Cash Generics2005 Abgenix US Public Amgen US 2600 2600 33 Cash2005 Vicuron US Public Pfizer US 1900 1900 - -2005 Transkaryotic Therapies US Public Shire UK 1600 1600 57 -2005 Fournier Pharma F Private Solvay B 1440 1938 - Cash Metabolic, cardiovascular2005 ID Biomedical US Public GSK UK 1400 1400 - Cash Vaccines2005 Eyetech US Public OSI US 935 935 142 -2005 Agis Industries Israel Public Perrigo US 818 818 - Cash & shares Various2005 Viatris G Private PE Meda S 738 738 - Cash Market Respiratory, pain2005 Bone Care US Public Genzyme US 600 600 - -2005 Berna Biotech CH Public Crucell NL 446 446 - Shares Vaccines2005 ESP Pharma US Private VC Protein Design Labs US 379 379 60 Cash & shares Market Cardiovascular, various2005 Zeneus UK Private PE Cephalon US 360 360 80 Cash Market Oncology2005 Corixa US Public GSK UK 301 301 20 - Vaccines2005 FEI Women's Health US Private Duramed/Barr US 282 282 - Cash Women's health2005 Idun Pharmaceuticals US Private VC Pfizer US 280 280 100 Cash 2 Anti-infectives2005 Xcel Pharmaceuticals US Private PE Valeant Canada 280 280 88 Cash Market CNS2005 Syrrx US Private VC Takeda J 275 275 135 Cash 1 Metabolic, various2005 Docpharma B Private Matrix Laboratories India 263 263 - Cash Various2005 Peninsula US Private VC Johnson & Johnson US 245 245 93 Cash 3 Anti-infectives2005 TransForm Pharmaceuticals US Private VC Johnson & Johnson US 230 230 80 Cash 22005 AaiPharma US Public Xanodyne Pharmaceuticals US 209 209 - - Services2005 InKine US Public Salix US 190 190 - Shares GI2005 Arakis UK Private VC Sosei J 186 186 90 Cash & shares 2 Respiratory, inflammation, pain2005 Glycart CH Private VC Roche CH 181 181 20 Cash Pre-clinical2005 Guilford Pharmaceuticals US Public MGI Pharma US 178 212 - Cash & shares2005 Salmedix US Private VC Cephalon US 160 200 82 Cash 2 Oncology2005 Orphan Medical US Public Jazz Pharmaceuticals US 122 140 - -2005 Control Delivery Systems US Private VC pSividia Aus 104 104 34 Shares Market Ophtalmology, drug delivery2005 Neopharma S Private VC Solvay B 93 93 10 Cash Approval pend CNS2005 Igeneon A Private VC Aphton US 81 81 68 Shares 3 Oncology2005 Bioren US Private VC Pfizer US 80 80 - Cash Pre-clinical Various2005 Evotec Neurosciences CH Private VC Evotec G 54 54 28 Shares Pre-clinical CNS2005 Lorantis UK Private VC Celldex US 53 53 80 Shares Pre-clinical Autoimmune2005 Xenova UK Public Celtic Pharma Development UK 47 47 - Cash Oncology, various2005 Cellective Therapeutics US Private VC MedImmune US 40 160 26 Cash Pre-clinical Oncology, autoimmune2005 Aerogen US Public Nektar Therapeutics US 32 32 54 Cash & shares2005 Cita NeuroPharmaceuticals Canada Private Vernalis UK 30 65 - Cash CNS2005 Alteris US Private Celldex US 25 25 - Cash & shares Oncology2005 Ionix Pharmaceuticals UK Private VC Vernalis UK 22 30 42 Shares n.a. Pain, CNS2005 Afmedica US Private VC Angiotech US 22 22 3 Cash n.a. Various2005 Aptamera US Private VC Antisoma UK 21 21 - Shares 1 Oncology2005 ActivX Biosciences US Private VC Kyorin J 21 21 39 Cash Pre-clinical Various2005 Greenwich Therapeutics US Private VioQuest US 20 20 - Shares Oncology2005 Angiosyn US Private VC Pfizer US 15 527 2 Cash Pre-clinical Ophtalmology2005 Cambridge Biotechnology UK Private VC Biovitrum S 14 14 20 Cash Pre-clinical Pain

Public / private

Upfront Deal Value ($m)

Total Deal Value ($m)

VC/PE Invest- ment ($m)

Clinical Stage of Lead Product



Year Target company Country VC/PE Buyer Country Cash / shares Therapeutic Area(s) of Target CompanyPublic / private





2005 Survac DK Private VC Merck KGaA G 13 13 1 Cash Pre-clinical Oncology2005 Sirenade G Private VC KeyNeurotek G 9 9 11 Cash 1 CNS2005 Trinity Labs US Private Jubilant Organosys India 8 8 - Cash Various2005 GemVax S Private Pharmexa DK 5 10 - - Oncology2005 Delex Therapeutics Canada Private VC YM BioSciences Canada 5 20 - Cash 2 Oncology2005 Targeted Molecules US Private Chromos Canada 4 4 - Shares2005 Bioxalis Medica Canada Private Ambrilia Canada 4 4 - Cash Oncology2005 APS Pharma G Private ProStrakan UK 3 3 - Cash2005 Inovio Norway Private Genetronics US 3 10 - Cash & shares Anti-infectives2005 Auvation UK Private EiRx UK 3 3 - Shares Oncology2005 Echelon US Private Aeterna Zentaris Canada 3 6 - Shares Oncology2005 Nurel Therapeutics US Private VC Diamyd Medical S 2 2 - Shares Pre-clinical Pain, metabolic2005 SansRosa US Private VC CollaGenex US 1 4 1 Cash Pre-clinical Dermatology2005 Artesian Therapeutics US Private VC Cardiome Pharma Canada 64 12 Cash n.a. Cardiovascular2005 Allerbio F Private ALK-Abello DK - -2005 Amedis Pharmaceuticals UK Private Paradigm Therapeutics UK - -2005 Celogos F Private HR Pharma SA F - -2005 Eukarion US Private Proteome Systems Aus - - Various2005 G2M Cancer Drugs G Private VC TopoTarget DK 7 Shares Pre-clinical Oncology2005 Hematech US Private Kirin J - -2005 Hormos Medical Fin Private Quatrx US - - Women's health2005 IBFB Pharma G Private VC Curacyte G 10 - 3 Various2005 Metagen US Private Esprit Pharma US - Cash Urology2005 Metaphore US Private VC ActivBiotics US 93 Shares Pre-clinical2005 Microscience UK Private VC Emergent BioSolutions US 80 Shares 2 Anti-infectives2005 Morphochem G Private VC Biovertis A 80 Shares n.a. Anti-infectives2005 Psychenomics US Private Novasite US - - CNS2005 WE Pharmaceuticals US Private airPharma US - -2006 Schering AG G Public Bayer G 21500 21500 - Cash Various2006 Serono CH Public Merck KGaA G 13500 13500 - Cash Various2006 Ivax US Public Teva Israel 7400 7400 - Cash & shares Generics2006 Schwarz Pharma G Public UCB B 5700 5700 - Cash Cardiovascular, GI, CNS2006 Altana Pharma G Public Nycomed DK 5345 5345 - Cash & shares2006 Chiron US Public Novartis CH 5100 5100 - Cash2006 KOS US Public Abbott Laboratories US 3700 3700 - Cash Cardiovascular2006 Myogen US Public Gilead Sciences US 2500 2500 132 - Cardiovascular2006 Pliva Croatia Public Barr Pharmaceuticals US 2500 2500 - Cash Generics2006 ICOS US Public Eli Lilly US 2300 2300 33 Cash Erectile dysfunction2006 Andrx US Public Watson Pharmaceuticals US 1900 1900 - Cash Various2006 Sirna (Ribozyme) US Public Merck & Co US 1100 1100 40 Cash Ophalmology2006 Cambridge Antibody Technology UK Public AstraZeneca UK 1070 1070 - Cash2006 Tanox US Public Genentech US 922 922 55 -2006 AnorMed US Public Genzyme US 580 580 25 Cash Oncology2006 Betapharm G Private PE Dr Reddy India 570 570 150 Cash Market Generics2006 NeuTec Pharma UK Public Novartis CH 566 566 14 Cash2006 Domantis UK Private VC GSK UK 454 454 83 Cash Pre-clinical Various








2006 Corus Pharma US Private VC Gilead Sciences US 420 420 150 Cash 3 Respiratory2006 Cotherix US Public Actelion CH 417 417 67 Cash Cardiovascular2006 GlycoFi US Private VC Merck & Co US 400 400 40 Cash Pre-clinical Various2006 Rinat Neuroscience US Private VC Pfizer US 400 400 80 Cash 2 CNS2006 PowderMed UK Private VC Pfizer US 300 400 45 Cash 2 Vaccines2006 Avidia US Private VC Amgen US 290 380 80 Cash 1 Autoimmune2006 Innovata UK Public Vectura UK 234 234 - Shares Respiratory2006 Fumapharm CH Private Biogen Idec US 230 500 - Cash CNS2006 Kudos UK Private VC AstraZeneca UK 210 210 80 Cash 1 Oncology2006 Conforma US Private VC Biogen Idec US 150 250 60 Cash 1 Oncology2006 Pinewood Ireland Private Wockhardt India 150 150 - Cash Various2006 Valera US Public Indevus US 120 120 35 Shares Oncology, urology2006 Douglas Laboratories Canada Private Atrium Canada 100 100 - Shares Various2006 Novosis G Private Schweizerhall CH 82 98 - Cash & shares Various2006 Abmaxis US Private VC Merck & Co US 80 80 10 Cash Pre-clinical Drug discovery2006 Avidex UK Private VC MediGene G 62 62 72 Shares 1 Autoimmune, RA2006 Cabrellis Pharmaceuticals CorporaUS Private VC Pharmion US 59 59 34 Cash 2 Oncology2006 Jaba Pharmaceutica Portugal Private Recordati Italy 57 57 - Cash Various2006 SBL Vaccine AB S Private VC Crucell NL 50 50 - Cash Market Vaccines2006 Cellpep F Private VC Procyon Canada 39 39 15 Shares Approval pend Oncology2006 Carlsson Research S Private VC NeuroSearch DK 33 122 20 Cash Pre-clinical CNS2006 Eximias US Private VC YM BioSciences Canada 29 29 95 Cash & shares 3 Oncology2006 MarcoMed US Private Protherics US 25 25 - Shares Oncology2006 Sirius US Private DUSA Pharmaecuticals US 22 30 - Cash & shares Dermatology2006 Miikana US Private VC EntreMed US 21 21 8 Shares 1 Oncology2006 RXKinetix US Private VC Endo Pharmaceuticals US 20 115 35 Cash 2 Oncology2006 Montigen US Private SuperGen US 18 40 - Cash & shares Oncology2006 DnAge NL Private VC Pharming NL 18 18 3 Shares Pre-clinical Metabolic, CNS2006 Vela Pharmaceuticals US Private VC Pharmos US 18 18 60 Cash & shares 2 Autoimmune2006 Saegis US Private VC Lundbeck DK 14 15 51 Cash 2 CNS2006 Haptoguard US Private Synvista (former Alteon) US 9 9 - Shares Cardiovascular2006 AirPharma US Private Meldex UK 8 8 - Cash & shares2006 Urdur Iceland Private DeCode Genetics Iceland 6 6 - Shares Oncology2006 Nobex US Private VC Biocon India 5 5 81 Cash 2 Metabolic2006 Alamo Pharmaceuticals US Private Avanir Pharmaceuticals US 4 29 - Cash CNS2006 ProlX US Private Biomira Canada 3 18 - Cash & shares Oncology2006 Segix Pharma Italy Private Mendex (former Bioprogess) UK 2 2 - Cash & shares2006 Cutanogen US Private Cambrex US 2 6 - Cash Wound care2006 TheraPei Pharmaceuticals US Private Forbes Medi-Tech Canada 1 50 - Cash & shares Metabolic2006 MNL Pharma UK Private VC Summit UK 1 1 - Cash Pre-clinical Oncology2006 IviGene US Private Oragenics US - Shares Various2006 Sciencom UK Private Regen Therapeutics UK - Cash CNS2006 4AZA B Private Elbion G - Shares2006 Athelas CH Private VC Merlion Singapore - Shares Pre-clinical Anti-infectives2006 Bittner Pharma Group A Private Omega Pharma B - - Various2006 CareX F Private VC 7TM DK 36 - Pre-clinical Metabolic








2006 Combinature G Private VC Merlion Singapore 17 Cash Pre-clinical Anti-infectives2006 Ellipsis Neurotherapeutics Canada Private VC Transition Therapeutics Canada 5 Shares Pre-clinical CNS2006 Ethimed B Private Ranbaxy India - -2006 Hamlet Pharma S Private VC Natimmune DK - - n.a. Oncology2006 Nura US Private VC Omeros US 10 Shares n.a. CNS2006 Proventiv US Private Cytochroma Canada - - Metabolic2006 Q-RNA US Private Neuro Hitech US - Shares CNS2006 Talisker UK Private VC EUSA Pharma UK - - Market CNS, pain2006 Vivacs G Private Emergent BioSolutions US - - Vaccines2007 Medimmune US Public AstraZeneca UK 15219 15219 12 - Respiratory2007 Organon NL Public Schering-Plough US 14400 14400 - -2007 MGI Pharma US Public Eisai J 3900 3900 - -2007 Pharmion US Public Celgene US 2598 2600 - -2007 New River US Public Shire UK 2498 2500 - -2007 Reliant Pharmaceuticals US Private PE GSK UK 1650 1650 570 Cash Market Cardiovascular2007 Aspreva Canada Public Galenica CH 915 915 - Cash2007 MedPointe Inc US Private PE Meda S 790 790 400 Cash & shares Market Respiratory, pain2007 Madaus Pharma G Private Rottapharm Italy 660 660 - Cash2007 Cerexa US Private VC Forest Laboratories US 493 593 66 Cash 2 Anti-infectives2007 Adnexus US Private VC Bristol-Myers Squibb US 430 530 80 Cash 1 Oncology2007 Ilypsa US Private VC Amgen US 420 420 70 Cash 2 Renal disorders2007 Agensys US Private VC Astellas Pharma J 387 520 110 Cash 1 Oncology2007 NovaCardia US Private VC Merck & Co US 350 350 94 Shares 3 Cardiovascular2007 Recip S Private Meda S 350 350 - Cash & shares Various2007 Bradley Pharmaceuticals, Inc. US Public Nycomed CH 346 346 - - Dermatology2007 Bioenvision US Public Genzyme US 345 345 - Cash2007 Morphotek US Private VC Eisai J 325 325 82 Cash 2 Oncology, inflammation2007 Hypnion US Private VC Eli Lilly US 315 315 87 Cash 2 CNS2007 Alantos Pharmaceuticals US Private VC Amgen US 300 300 60 Cash 2 Metabolic2007 Negma Laboratories F Private Wockhardt India 265 265 - Cash Inflammation, cardiovascular, womens' health2007 Coley US Public Pfizer US 200 200 - Cash2007 Orphan Europe F Private Recordati Italy 191 191 - Cash Orphan diseases2007 Nabi Biologics US Public Biotest G 185 185 - Cash Various2007 Renovis US Public Evotec G 152 152 - Shares Inflammation, pain2007 Arrow Therapeutics UK Private VC AstraZeneca UK 150 150 73 Cash 2 Anti-infectives2007 Biolipox S Private VC Orexo S 134 134 60 Shares Pre-clinical2007 Biorexis US Private VC Pfizer US 130 130 42 Cash Pre-clinical Metabolic2007 JDS Pharmaceuticals US Private VC Noven US 125 125 62 Cash Market CNS2007 Alliant Pharmaceuticals US Private Sciele Pharma US 110 172 - Cash Pediatrics2007 Abrika Pharmaceuticals US Private Actavis Iceland 110 110 - Cash Various2007 Biopartners Holdings CH Private VC Bioton Polen 78 78 100 Shares Approval pend Various2007 Therapeutic Human Polyclonals US Private VC Roche CH 56 56 12 Cash Pre-clinical2007 Praecis US Public GSK UK 55 55 - Cash Oncology2007 Forsight Newco II US Private VC QLT Canada 42 82 - Cash Pre-clinical2007 Syntonix US Private VC Biogen Idec US 40 120 52 Cash Pre-clinical Blood disorders2007 Brookwood US Private Surmodics US 40 62 - Cash Various, drug delivery








2007 ORCA Pharm G Private Barr Pharmaceuticals US 39 46 - Cash Oncology, generics2007 Morton Grove US Private Wockhardt India 38 38 - Cash Dermatology2007 Oxxon UK Private VC Oxford BioMedica UK 31 31 36 Shares 2 Oncology, anti-infectives2007 Derms Development UK Private VC York Pharma UK 30 35 18 Shares Market Dermatology2007 DanioLabs UK Private VC Summit UK 29 29 - Cash & shares n.a. CNS, ophtalmology2007 Neuro 3D F Private VC Evotec G 29 29 84 Shares Pre-clinical CNS2007 GeneMedix UK Public Reliance Life Scicences India 28 28 7 Shares Various2007 Pharmelle US Private Azur Pharma Ireland 28 28 - - Women's health2007 Systems Medicine US Private Cell Therapeutics US 20 35 - Shares Oncology2007 Cardiff ProTides & Biologicals UK Private VC Morvus Technology UK 20 20 - Shares Pre-clinical Oncology2007 Apoxis CH Private VC TopoTarget DK 19 19 31 Shares 2 Oncology2007 Fermavir US Public Inhibitex US 19 19 - Shares Anti-virals2007 Acorus Therapeutics UK Private Maelor UK 16 26 - Cash & shares Various, blood2007 Inpharmatica UK Private VC Galapagos B 15 15 80 Shares Pre-clinical Various2007 Iconix US Private VC Entelos UK 14 39 60 Cash n.a.2007 VitaFlow S Private Navamedic Norway 14 14 - Cash & shares Metabolic, women's health2007 PharmaForm US Private Akela Pharma Canada 12 12 - Shares Various2007 NeuroMedix US Public Transition Therapeutics Canada 11 11 - Shares2007 Antigen Laboratories US Private Planet Technologies US 10 10 - - Allergy2007 Illumigen Biosciences US Private VC Cubist US 9 341 15 Cash Pre-clinical Anti-infectives2007 Pelias A Private VC Intercell A 9 9 - Shares 1 Vaccines2007 SourceCF US Private Eurand NL 7 7 - Cash Respiratory2007 Mytogen US Private Advanced Cell Technology US 5 5 - Shares Cardiovascular2007 Align Holdings US Private Cyclacel UK 4 4 - Cash Oncology2007 Hamilton Pharmaceuticals NL Private Neuren US 4 4 11 Shares CNS2007 Rosanto Pharmaceuticals UK Private York Pharma UK 4 4 - Shares Inflammation2007 TLT Medical CH Private Arpida CH 48 - Cash & shares Anti-infectives2007 Complex Biosystems G Private VC Ascendis Pharma DK 4 - Pre-clinical Metabolic2007 Haptogen UK Private Wyeth US - -2007 Ingenium G Private VC Probiodrug G - Shares Pre-clinical Various2007 Intronn US Private VC VIRxSYS US 12 Shares Pre-clinical2007 Lareq Pharma Spain Private Apotex US - -2007 LymphoSign Canada Private VC Aegera Therapeutics Canada 16 - 1 Oncology2007 OPI SA F Private EUSA Pharma UK - - Oncology2007 Paradigm Therapeutics UK Private VC Takeda J 49 Cash Pre-clinical CNS, various2007 Proreo Pharma CH Private Specialty European Pharma UK - - Cardiovascular2007 SalPep Canada Private Atheromedix Canada - -2007 Surface Therapeutics UK Private Serentis UK - Shares Dermatology2008 Alcon (Option) US Public Novartis CH 11000 11000 - Cash Ophalmology2008 Millennium US Public Takeda J 8200 8200 - Cash Oncology2008 Barr Pharmaceuticals US Public Teva Israel 7460 7460 - Cash & shares Generics2008 Imclone US Public Eli Lilly US 6500 6500 - Cash Oncology2008 APP Pharmaceuticals US Public Fresenius Kabi G 3700 4600 - Cash Various2008 Adams Respiratory US Public Reckitt Benckiser UK 2300 2300 - Cash OTC, cough2008 Alpharma US Public King Pharmaceuticals US 1700 1700 - Cash2008 Sciele US Public Shionogi J 1400 1400 - Cash Cardiovascular, diabetes








2008 Axcan Pharma Inc Canada Public TPG Capital US 1300 1300 - Cash GI2008 Speedel CH Public Novartis CH 1000 1000 180 Cash2008 Sirtris US Public GSK UK 720 720 180 Cash Metabolic, endicronology2008 Acambis (ex Peptide TherapeuticsUK Public Sanofi F 550 550 15 Cash Anti-infecties, vaccines2008 Jerini G Public Shire UK 517 517 83 Cash Orphan diseases2008 Lev Pharmaceuticals US Public ViroPharma US 443 617 - Cash & shares Inflammation, orphan2008 Omrix US Public Johnson & Johnson US 438 438 45 Cash2008 CollaGenex US Public Galderma Pharma CH 420 420 - Cash Dermatology2008 CoGenesys US Private VC Teva Israel 400 400 55 Cash 2 Oncology2008 ProTherics UK Public BTG UK 390 390 - Shares Acute care2008 Tercica US Public Ipsen F 373 373 70 Cash Metabolic2008 Bentley US Public Teva Israel 360 360 - Cash Generics2008 CovX US Private VC Pfizer US 300 500 - - 1 Various2008 Direvo G Private VC Bayer G 300 300 40 Cash Pre-clinical Various2008 Dow Pharmaceutical US Private VC Valeant Canada 285 285 - Cash Market Dermatology2008 Draxis Canada Public Jubilant Organosys India 255 255 - Cash Various2008 Kosan US Public Bristol-Myers Squibb US 235 235 120 Cash Oncology2008 U3 Pharma G Private VC Daiichi Sankyo J 234 234 52 Cash Pre-clinical Oncology2008 Serenex US Private VC Pfizer US 200 200 85 Cash 1 Oncology2008 Encysive US Public Pfizer US 195 195 - Cash Cardiovascular2008 Arius Canada Public Roche CH 190 190 - Cash Oncology, inflammation2008 Iomai US Public Intercell A 189 189 65 Cash & shares Vaccines2008 Piramed UK Private VC Roche CH 160 175 25 Cash 1 Oncology2008 Barrier US Public Stiefel US 148 148 - Cash Dermatology2008 Mirus Bio US Private Roche CH 125 125 - Cash Various2008 Protez US Private VC Novartis CH 100 400 25 Cash 2 Anti-infectives2008 Prestwick US Private VC Biovail Canada 100 100 120 Cash Market CNS2008 Coria Laboratories US Private Valeant Canada 95 95 - Cash Dermatology2008 Interpharm Holdings US Public Amneal US 68 68 - Cash Various2008 SGX US Public Eli Lilly US 64 64 130 Cash Oncology2008 Pharmacopeia US Public Ligand US 59 74 25 Cash & shares2008 Xanthus Canada Private VC Antisoma UK 53 53 80 Shares 3 Oncology2008 Actimis US Private VC Boehringer Ingelheim G 50 515 20 Cash 1 Respiratory2008 Oryx Canada Private Sepracor US 50 70 - Cash Various2008 Memory Pharmaceuticals US Public Roche CH 50 50 - Cash CNS, Alzheimer2008 Protein Sciences US Private VC Emergent BioSolutions US 48 78 10 Cash & shares 3 Vaccines2008 Axicorp G Private Biocon India 43 43 - Cash Various2008 Protiva Biotherapeutics US Private VC Tekmira Pharmaceuticals Canada 40 40 17 Shares Pre-clinical Various2008 Proprius Pharmaceuticals US Private VC Cypress Bioscience US 38 38 15 Cash 2 Autoimmune2008 Adenosine Therapeutics US Private VC Clinical Data US 33 63 18 Cash & shares 2 Various2008 Thiakis UK Private VC Wyeth US 30 150 18 Cash 1 Metabolic, diabetes2008 Elbion G Private VC Biotie Fin 26 26 50 Shares 1 CNS, inflammation2008 Cytogen US Public EUSA Pharma UK 23 23 - Cash Oncology2008 CeNeS UK Public Paion G 20 20 - Shares CNS, pain2008 OncoGenex Canada Private VC Sonus US 12 20 28 Shares 2 Oncology2008 AMBI / MCR Pharmaceuticals US Private Neuro Hitech US 12 12 - Cash & shares Anti-infectives








2008 Hunter-Fleming UK Private VC Newron Italy 12 36 35 Shares Pre-clinical CNS2008 Neosil US Private VC Peplin Aus 7 7 42 Shares 2 Dermatology2008 Virium US Private MacroChem US 7 7 - Shares Oncology2008 Amnestix US Private VC Sygnis G 4 4 1 Cash & shares Pre-clinical CNS2008 Innovive US Public CytRx US 3 18 - Cash & Shares Oncology2008 Lymphatix Oy Fin Private Ark UK 3 3 - Shares Various2008 Axordia UK Private Intercytex UK 3 3 - Shares Ophtalmology2008 Cellgate US Private VC Progen Aus 2 31 85 Shares 1 Oncology2008 Virexx Canada Public Paladin Canada 1 3 - Cash Anti-infectives2008 Somanta US Public Access Pharmaceuticals US 1 1 - Shares2008 Cartela S Private VC Hansa Medical S 1 1 5 - Pre-clinical Autoimmune2008 ABR US Private Stiefel US - - Dermatology2008 Biodevelops A Private Axentis Pharma CH - - Orphan diseases2008 Clinical Designs UK Private VC Mundipharma Bermuda - - n.a. Respiratory2008 Cognitive US Private Mithridion US - Shares CNS2008 Ganymed G Private VC ATS Beteiligungen G - - Pre-clinical Oncology2008 Nucleonics US Private VC Alnylam US 56 Shares Pre-clinical2008 ProEthic Pharmaceuticals US Private Kowa J - - Various2008 Raven Biotechnologies US Private VC Macrogenics US 120 Shares Pre-clinical Oncology2008 V-Clip US Private Viral Genetics US - - Anti-infectives2009 Wyeth US Public Pfizer US 66700 66700 - Cash & shares2009 Genentech US Public Roche CH 46800 46800 - Cash2009 Schering Plough US Public Merck & Co US 42000 42000 - Cash & shares2009 Stiefel Laboratories US Private GSK UK 3300 3600 - Cash Dermatology2009 Zentiva CZ Public Sanofi F 2603 2603 - Cash Generics2009 Sepracor US Public Dainippon Sumitomo J 2600 2600 45 Cash Respiratory2009 Medarex US Public Bristol-Myers Squibb US 2226 2226 - Cash Oncology, melanoma2009 Arrow Generics UK Private Watson Pharmaecuticals US 1750 1750 - Cash & shares Generics2009 CV Therapeutics US Public Gilead Sciences US 1400 1400 50 Cash2009 Ebewe Pharma A Private Novartis CH 1200 1200 - Cash Various2009 Cougar Biotechnology US Public Johnson & Johnson US 1000 1000 - Cash Oncology2009 Ovation US Private PE Lundbeck DK 600 900 150 Cash Market2009 Swedish Orphan S Private Biovitrum S 480 480 - Cash & shares Orphan diseases2009 Indevus (Interneuron) US Public Endo Pharmaceuticals US 370 630 - Cash Urology, endocrinology2009 Noven Pharmaceuticals US Public Hisamitsu J 368 368 - Cash CNS2009 Novexel F Private VC AstraZeneca UK 350 425 120 Cash 2 Anti-infectives2009 Gloucester US Private VC Celgene US 340 640 137 Cash Market Oncology2009 OM Pharma CH Private Galenica CH 330 330 - Cash Respiratory, diabetis, urinary2009 Goldshield Group UK Public Midas Bidco Investor Group UK 289 289 - Cash Generics2009 Proteolix US Private VC Onyx US 276 851 142 Cash 2 Oncology2009 BiPar Sciences US Private VC Sanofi F 200 500 90 Cash 2 Oncology2009 Esbatech CH Private VC Alcon CH 150 589 110 Cash 1 Ophtalmology2009 Life Health UK Private Lundbeck DK 147 147 - Cash Huntington Disease2009 Fovea F Private VC Sanofi F 132 540 65 Cash 2 Ophthalmology2009 Insmed (Biologics) US Public Merck & Co US 130 130 57 Cash Oncology2009 Tillotts Pharma CH Private Zeria J 128 128 - - Inflammation








2009 Corthera US Private VC Novartis CH 120 620 71 Shares 3 Cardiovascular2009 ViroChem Pharma Canada Private VC Vertex US 100 375 70 Cash & shares 2 Anti-virals2009 Calixa US Private VC Cubist US 93 403 15 Cash 2 Anti-infectives2009 Curagen US Public Celldex US 90 90 - Cash Oncology2009 Cornerstone Therapeutics US Public Chiesi Italy 75 75 - Cash Respiratory2009 IDM Pharma F Public Takeda J 75 75 103 Cash Oncology2009 Genelabs Techn. US Public GSK UK 57 57 32 Cash Anti-infectives2009 Sapphire (Rejuvenon) US Private VC Helsinn CH 45 45 95 Cash 2 Oncology, GI2009 BioAssets Development US Private VC Cephalon US 43 43 9 Cash 2 Inflammatory pain (spine)2009 Targanta Therapeutics US Public The Medicines Company US 42 100 100 Cash Antibiotics2009 Minrad US Private Piramal India 40 40 - Cash2009 CellGenesys US Public BioSante US 38 38 27 Shares Oncology2009 Avigen US Public MediciNova US 37 37 11 Shares Gene therapy2009 Nitromed US Public Deerfield Management US 36 36 85 Cash Cardiovascular2009 Addrenex US Private Sciele Pharma US 29 29 - Shares Adrenergic dysregulation2009 Huxley US Private BioMarin US 15 61 - Cash2009 Magen BioSciences US Private VC PPD US 15 15 17 Cash Pre-clinical Dermatology2009 Neurogen US Public Ligand US 11 11 - Shares Various2009 Prolysis UK Private VC Biota Aus 11 11 18 Shares Pre-clinical Antibiotics2009 Avalon Pharmaceuticals US Public Clinical Data US 10 10 88 Shares2009 MacroChem US Public Access Pharmaceuticals US 8 8 - Shares Dermatology2009 ECR Pharmaceuticals US Private Hi-Tech Pharmacal US 5 9 - Cash Various2009 Stem Cell Sciences UK Public StemCells US 5 5 6 Cash & shares2009 Crystax Spain Private VC Oryzon Spain 5 5 5 Shares Pre-clinical Oncology2009 PharmaKodex UK Private VC Orexo S 4 8 14 Shares n.a. Pain2009 Juvantia Fin Private VC Santhera CH 3 3 21 Shares 2 CNS2009 Metabasis US Public Ligand US 2 2 60 Cash Metabolic, liver disease2009 Nventa (Stressgen) US Public Akela Pharma Canada 1 1 - Shares Anti-viral, HPV2009 Xphase Pharmaceuticals Canada Private Pacgen Biopharmaceuticals Canada 0 0 - Shares2009 ACE Biosciences DK Private VC Zymenex DK 37 - Pre-clinical2009 Amalyte Pharmaceuticals US Private Kemin Industries US - -2009 Apoptos US Private VC Receptos US 28 - Pre-clinical Oncology2009 Helvepharm CH Private Sanofi F - - Various generics2009 Hermes Biosciences US Private Merrimack US - - Oncology2009 NeuronIcon DK Private Lundbeck DK - Cash CNS2009 Travanti Pharma US Private VC Teikoku Pharma J - - n.a.2009 Tubilux Italy Private Bausch & Lomb US - Cash2009 Wound Management TechnologieUS Public BioPharma Management US - Shares Pain2010 Alcon US Public Novartis CH 41200 41200 - Cash Ophtalomology2010 Ratiopharm G Private Teva Israel 4950 4950 - Cash Generics2010 OSI Pharma US Public Astellas Pharma J 4000 4000 - Cash2010 Valeant US Public Biovail Canada 3300 3300 - Cash & shares Dermatology2010 Abraxis BioScience Inc. US Public Celgene US 2900 3550 - Cash & shares Oncology2010 Chattem US Public Sanofi F 1900 1900 - Cash Consumer health, OTC2010 Qualitest US Private PE Endo Pharmaceuticals US 1200 1200 - Cash Market OTC, pain, generics2010 ZymoGenetics US Public Bristol-Myers Squibb US 885 885 - Cash HCV








2010 Mepha Pharma CH Private Cephalon US 615 615 - Cash Generics2010 Movetis B Public Shire UK 566 566 - Cash Women's Health2010 Bioniche Pharma Ireland Private Mylan US 550 550 - Cash Generics2010 Facet Biotech Corp. US Public Abbott Laboratories US 450 450 - Cash Immunology, oncology2010 Alaven US Private Meda S 350 350 - Cash Gastroenterology, women's Health2010 Aton Pharma US Private PE Valeant Canada 318 318 - Cash Market2010 Marcadia Biotech US Private VC Roche CH 287 530 18 Cash 1 Diabetes2010 Biocompatibles UK Public BTG UK 282 282 - Cash & shares Oncology2010 AkaRx US Private VC Eisai J 255 255 20 Cash 2 Autoimmune2010 BioForm Medical Inc. US Public Merz Pharma Group G 253 253 80 Cash Dermatology, women's health, cosmetics2010 Ception Therapeutics US Private VC Cephalon US 250 250 80 Cash 2 Asthma, autoimmune2010 Arresto Biosciences US Private VC Gilead Sciences US 225 225 - Cash 1 IPF2010 FoldRx US Private VC Pfizer US 200 655 88 Cash 32010 Amerifit Brands US Private PE Martek Biosciences US 200 200 - Cash Market Consumer health, women's health2010 Alnara Pharmaceuticals US Private VC Eli Lilly US 180 380 55 Cash Approval pend Metabolic2010 Preglem CH Private VC Gedeon Richter Hungary 150 445 80 Cash 3 Womens health2010 Angioblast Systems US Private Mesoblast Ltd. Aus 148 148 - Shares Various, stemm cells2010 Javelin Pharmaceuticals US Public Hospira US 145 145 - Cash Pain2010 Penwest US Public Endo Pharmaceuticals US 144 144 - Cash Pain2010 Nepentes S.A. Poland Public Sanofi F 129 129 - Cash OTC, dermatology, pediatrics, cough/cold2010 CGI Pharmaceuticals US Private VC Gilead Sciences US 120 120 67 Cash Pre-clinical Inflammation, autoimmune2010 Respivert UK Private VC Johnson & Johnson US 104 120 23 Cash Pre-clinical Asthma, COPD, cystic fibrosis2010 Trubion Pharmaceuticals US Public Emergent BioSolutions US 97 136 - Cash & shares Rheumatoid arthritis, lupus2010 Laboratoire de la Mer F Private Omega Pharma B 96 96 - Cash OTC2010 Transave US Private VC Insmed US 92 92 107 Cash & shares 2 Cystic fibrosis2010 SmartCells US Private VC Merck & Co US 80 500 10 Cash Pre-clinical Diabetes2010 TargeGen Inc. US Private VC Sanofi F 75 560 118 Cash 2 Myelofibrosis2010 VaxDesign US Private Sanofi F 55 60 - Cash2010 Cequent Pharmaceuticals US Private VC MDRNA US 46 46 52 Shares Pre-clinical Oncology, inflammation2010 BioXell Italy Public Cosmo Italy 41 41 80 Cash & shares Pain2010 Everett Laboratories US Private Chemo Spain 40 40 - Cash OTC, vitamins, womens health2010 Solstice US Private VC WorldMeds US 37 37 90 Cash Market CNS, cosmetics2010 Symphony Dynamo US Private VC Dynavax Technologies US 28 28 50 Shares n.a. Hepatitis, oncology2010 Heidelberg Pharma G Private VC Wilex Pharma G 27 27 60 Shares Pre-clinical2010 Cambridge Laboratories UK Public Alliance Pharma UK 22 26 - Cash & shares2010 ZyStor US Private VC BioMarin US 22 115 11 Cash Pre-clinical Orphan diseases, genetic diseases2010 Intradigm Corp. US Private VC Silence Therapeutics UK 22 22 39 Shares n.a. Technology platform (RNA/siRNA)2010 Sloning G Private VC MorphoSys G 21 21 20 Cash Market Various2010 GTC Biotherapeutics US Public LFB Biotechnologies S.A.S. F 18 18 - Shares2010 LEAD Therapeutics US Private VC BioMarin US 18 97 29 Cash Pre-clinical2010 Middlebrook Pharmaceuticals US Public Victory Pharma US 17 17 55 Cash Antibiotic2010 NeutraHealth UK Private Elder Pharma India 15 15 - Cash Nutritional health2010 Humalys SAS F Private Vivalis SA F 13 33 - Shares Technology platform2010 Vital Science Corp. Canada Private Valeant Canada 10 10 - Cash OTC, Dermatology2010 DeveloGen AG G Private VC Evotec G 10 18 83 Shares Pre-clinical Endocrine, metabolic2010 Symphony Icon US Private VC Lexicon US 10 90 45 Shares 2 IBS








2010 TOPIGEN Pharmaceuticals Canada Private VC Pharmaxis Ltd. Aus 8 12 60 Shares 22010 Sanomune Canada Private DiaMedica Canada 8 8 - Shares Alzheimer2010 Minster Pharmaceuticals UK Public Proximagen Neuroscience UK 6 6 - Cash CNS2010 Macoven US Private Pernix Therapeutics US 2 2 - Cash & shares Generics2010 DOV Pharmaceutical US Public Euthymics Bioscience US 2 2 - Cash2010 Covella Pharmaceuticals US Private Santarus US 2 2 - Cash & shares2010 Teomed AG CH Private Allergy Therapeutics UK 1 1 - Cash Allergy2010 Ariston Pharmaceuticals US Private Manhattan Pharmaceuticals US 1 4 - Shares CNS2010 ProBioGen G Private VC Minapharm Egypt 38 13 Cash n.a.2010 Aqua Pharmaceuticals US Private RoundTable Healthcare PartnerUS - - Dermatology2010 BioMonde GmbH G Private ZooBiotic Ltd. UK - Cash Wound care2010 Bionor Immuno AS Norway Private Nutri Pharma ASA Norway - Shares HIV, vaccines2010 BioSynthema US Private Advanced Accelerator Applicati F - - Oncology2010 Catalina Lifesciences US Private Metagenics US - - Weight-loss surgery patients, nutritional health2010 Cellvir SAS F Private VC Pharma Omnium International F 2 - 1 HIV2010 DMI BioSciences Inc. US Private Ampio Pharmaceuticals US - - Male sexual dysfunction2010 Karalex Pharma US Private Orchid Pharma (Orchid ChemicaIndia - - Generics2010 MacuCLEAR US Private VC Healthcare of Today US 0 - 1 Ophtalmology, AMD2010 MIKA Pharma G Private VC Giuliani S.p.A. Italy 6 - Market Drug delivery, pain, arthritis2010 Nitec Pharma CH Private VC Horizon Therapeutics US 62 Shares Market2010 Oriel Therapeutics US Private VC Novartis CH 55 - n.a. Asthma, COPD2010 SARM Italy Private BIAL Portugal - - Allergy, immunotherapy2010 Three Rivers US Private Kadmon US - -2010 Vitaflo UK Private Nestle CH - - Genetic diseases, nutritional health2011 Genzyme US Public Sanofi F 20100 23900 - Cash Orphan diseases, kidney, orthopaedics, cancer, transplant, autoimmune2011 Nycomed CH Private PE Takeda J 13680 13680 - Cash Market OTC, gastro, pain2011 Cephalon US Public Teva Israel 6800 6800 - Cash Pain, cancer, various2011 King Pharmaceuticals US Public Pfizer US 3600 3600 - Cash Pain2011 Talecris Biotherapeutics US Public Grifols Spain 3400 3400 - Cash & shares Immunology, pulmunology, neurology, hemostasis2011 Crucell NL Public Johnson & Johnson US 2300 2300 - Cash2011 Q-Med S Public Galderma Pharma CH 1200 1200 - Cash Dermatology2011 Martek US Public DSM NL 1087 1087 - Cash Nutritional health2011 Clinical Data US Public Forest Laboratories US 929 1114 - Cash2011 Plexxikon US Private VC Daiichi Sankyo J 805 935 67 Cash 3 Metastatic melanoma2011 Advanced BioHealing US Private VC Shire UK 750 750 47 Cash Market Diabetic, foot ulcer2011 Eurand NL Public Axcan Canada 587 587 - Cash Gastroenterology, Cystic Fibrosis, hypertension2011 Specifar Greece Private Watson Pharmaceuticals US 562 562 - Cash Generics2011 Paddock Laboratories US Private Perrigo US 540 540 - Cash Various OTC2011 Pharmaswiss CH Private PE Valeant Canada 478 518 - Cash Market Various, RX, branded generics2011 Prostrakan UK Public Kyowa Hakko Kirin J 475 475 - Cash Pain, nausea, oncology2011 Graceway Pharmaceuticals US Private PE Medicis US 455 455 - Cash Market Dermatology2011 Inspire US Public Merck & Co US 430 430 - Cash Ophtalmology2011 Biovex US Private VC Amgen US 425 1000 166 Cash 3 Oncology2011 Anchem Pharmaceuticals US Private Par Pharmaceuticals US 410 410 - Cash Generics2011 Calistoga US Private VC Gilead Sciences US 375 600 120 Cash 2 Oncology2011 AB Sanitas Lithuania Public Valeant Canada 372 372 - Cash OTC








2011 Amira Pharma US Private VC Bristol-Myers Squibb US 325 500 40 Cash 1 Idiopathic fibrosis2011 Oceana Therapeutics US Private Salix US 300 300 73 Cash Urology, incontinence2011 Antula S Private Meda S 281 281 - Cash OTC2011 Cypress Bioscience US Public Ramius/Royalty Pharma US 255 255 - Cash2011 Anadys US Public Roche CH 230 230 - Cash Anti-virals, hepatitis C2011 Gemin X US Private VC Cephalon US 225 525 266 Cash 2 Oncology2011 Adolor US Public Cubist US 190 415 - Cash Antibiotics2011 Intellikine US Private VC Takeda J 190 310 41 Cash 1 Oncology2011 Caraco US Public Sun Pharma India 188 188 - Cash OTC, generics2011 Prism US Private VC Baxter US 170 338 63 Cash Market2011 Novagali F Public Santen Pharmaceuticals J 135 135 - Cash2011 Synosia CH Private VC Biotie Fin 122 122 85 Shares 2 Parkinson, movement disorders2011 Victory Pharma US Private VC Shionogi J 118 127 45 Shares Market Pain2011 Astex UK Private VC SuperGen US 117 117 119 Cash & shares 22011 Taligen US Private VC Alexion US 111 478 76 Cash Pre-clinical AMD, inflammatory2011 BioPhausia S Public Medivir S 90 90 - Cash & shares Gastrointestinal,critical care, generics, CNS2011 Afexa Canada Public Valeant Canada 87 87 - Cash Immunstimulants2011 Cellerix Spain Private VC TiGenix B 86 86 96 Shares 2 Adult stem cell2011 IS Pharma UK Public Sinclair Pharma UK 81 81 - Shares Dermatology2011 CPEX Pharmaceuticals US Public FCB I Holdings (Footstar) US 77 77 - Cash Drug delivery2011 Vicept Therapeutics US Private VC Allergan US 75 275 16 Cash 2 Dermatology2011 Icagen US Public Pfizer US 56 56 - Cash Pain, epilepsy2011 Abunda US Private VC Evolva CH 40 40 - Shares n.a. Nutritional health2011 DuoCort Pharma S Private VC ViroPharma US 34 175 5 Cash Market Oprhan, adrenal insufficency2011 CyDex US Private VC Ligand US 31 31 45 Cash Market CNS2011 Mpex US Private VC Axcan Canada 30 250 100 Cash 3 Cystic fibrosis, antibiotics2011 Uman Pharma Canada Private CFR Pharmaceuticals Chile 27 27 - Cash Oncology, generics2011 Cellartis S Private VC Cellectis S 21 21 20 Shares Market2011 Labopharm Canada Public Paladin Canada 20 20 - Cash2011 ZARS Pharma US Private VC Nuvo Research Canada 12 35 44 Cash & shares Market Dermatology, pain2011 Kinaxo G Private VC Evotec G 8 12 - Cash & shares Pre-clinical2011 Amorcyte US Private VC NeoStem US 4 6 7 Shares 12011 Bio-Vita S Private Midsona S 3 6 - Cash Nutritional health2011 Aegera Therapeutics Canada Private VC Pharmascience Canada 58 - 22011 Artisan Pharma US Private VC Ashai Kasei J 70 - 2 Sepsis2011 Biocontrol UK Private VC Targeted Genetics US 1 - 2 Antibiotics2011 Biorealitès F Private Servier F - - Oncology2011 Cytokine US Private Ferring CH - - Obstetrics, womens health2011 Epixis F Private VBI Vaccines US - - Anti-virals, hepatitis C2011 Excaliard US Private VC Pfizer US 25 - 2 Dermatology, scarring2011 Immunologix US Private Intextron US - -2011 Lectus Therapeutics UK Private VC UCB B 23 - n.a. Pain2011 Minoguard Israel Private XTL Biopharmaceuticals Israel - - Schizophrenia2011 Symbiotec G Private Lipoxen UK - - Orphan diseases2011 Syntarga NL Private VC Synthon NL - - Market2011 SynthRx US Private Adventrx US - Shares Sickle cell disease








2011 Wellspring Pharmaecuticals US Private Ancor Capital / Investor Group US - - OTC, various2012 Pharmasset US Public Gilead Sciences US 11200 11200 - Cash Anti-virals, HCV2012 Actavis CH Private PE Watson Pharmaceuticals US 5600 5920 - Cash Market Generics2012 Amylin US Public Bristol-Myers Squibb UK 5300 5300 - Cash Diabetes2012 Human Genome Science US Public Glaxo Smith Kline UK 3600 3600 - Cash Heart Disease2012 Medicis Pharmaceutical US Public Valeant Canada 2600 2600 - Cash Dermatology2012 Inhibitex US Public Bristol-Myers Squibb US 2500 2500 - Cash Anti-virals, HCV2012 Fougera US Private PE Novartis CH 1525 1525 - Cash Market Dermatology, generics2012 Ardea Biosciences US Public AstraZeneca US 1260 1260 - Cash Gout, arthritis2012 Micromet G Public Amgen US 1160 1160 - Cash Oncology2012 URL Pharma US Private PE Takeda J 800 800 - Cash Market Gout, arthritis2012 Mercury Pharma UK Private PE Cinven UK 732 732 285 Cash Market Various2012 EUSA Pharma UK Private PE Jazz Pharmaceuticals US 650 700 225 Cash Market Oncology, critical care, orphan2012 Enobia Canada Private VC Alexion US 610 1080 140 Cash 2 Orphan diseases, genetic2012 Amdipharm Ireland Private Cinven UK 590 590 - Cash2012 Azur Pharma Ireland Private PE Jazz Pharmaceuticals US 580 580 168 Shares Market CNS, pain, womens health2012 Ista Pharmaecuticals US Public Bausch & Lomb US 500 500 - Cash Ophthalmology2012 deCode Genetics Iceland Private VC Amgen US 415 415 286 Cash Pre-clinical Genetic Diseases2012 Avila Therapeutics US Private VC Celgene US 350 545 60 Cash 1 Oncology2012 SkinMedica US Private VC Allergan US 350 375 172 Cash Market Skin appearance, dermatology2012 Proximagen UK Public Upsher-Smith US 347 553 - Cash Metabolic, RA, Parkinson2012 Kai Pharmaceuticals US Private VC Amgen US 325 325 65 Cash 2 Chronic kidney disease2012 Orapharma US Private PE Valeant Canada 312 426 - Cash Market Dental anethesia2012 NextWave Pharmaceuticals US Private VC Pfizer US 255 680 123 - Market ADH Disorder2012 Dusa Pharmaceuticals US Public Sun Pharmaceuticals India 230 230 - Cash Actinic Kerastoses2012 Allos Therapeutics US Public Spectrum Pharmaceuticals US 206 206 - Cash Oncology2012 Boston Biomedical US Private VC Dainippon Sumitomo J 200 2630 5 Cash 2 Oncology2012 JHP Pharmaceuticals US Private PE Warburg Pincus US 195 195 - Cash Market Injectables for various indications2012 Airborne US Private PE Schiff Nutrition US 150 150 - Cash Market Immunstimulants, health nutrition2012 EKR Therapeutics US Private VC Cornerstone Therapeutics US 125 150 - Cash Market Cardiovascular2012 Elevation Pharmaceuticals US Private VC Dainippon Sumitomo J 100 400 77 Cash 2 COPD, Respiratory diseases2012 FerroKin US Private VC Shire Ireland 100 325 30 Cash 2 Haematology, orphan2012 CorImmun G Private VC Johnson & Johnson US 100 200 15 Cash Pre-clinical Cardiovascular, heart failure2012 CNS Therapeutics US Private VC Mallinckrodt US 100 100 16 Cash Market Pain and CNS Therapeutics2012 Cellzome G Private VC GSK UK 98 98 80 Cash n.a. Pharma research products2012 Stromedix US Private VC Biogen Idec US 75 562 35 Cash 1 IPF, fibrosis, orphan2012 LigoCyte Pharmaceuticals US Private VC Takeda Japan 60 - Cash 2 Norovirus Vaccine2012 Cobrek Pharmaceuticals US Private VC Perrigo Company US 45 45 - Cash Market Dermatologic, Foams2012 Bilthoven Biologicals NL Private Serum Institute of India India 41 41 - Cash Vaccines2012 Farma Projekt Poland Private Recordati I 21 21 - Cash Cardiovascular, urology, nutrition2012 Alterna US Private Moberg Derma DK 20 20 - Cash & shares Anti-fungal2012 NeuroNova S Private VC Newron Italy 19 19 30 Shares 2 CNS2012 Aldagen US Private VC Cytomedix US 16 31 62 Shares 1 Cardiovascular2012 Eclat Pharmaceuticals US Private VC Flamel Technologies F 12 12 - Note Market Pain2012 Eclipse Therapeutics US Private VC Bionomics Aus 10 10 3 Cash Pre-clinical Cancer, Stemcell Therapy2012 Pervasis Therapeutics US Private VC Shire UK 9 200 47 Cash 2 Regeneration, vascular








2012 AGI Therapeutics Ireland Public Vidara Ireland 8 8 - Cash Critical care2012 Inverseon Inc. US Private CBIO Aus 7 7 - Shares Asthma, Bronchitis, Lupus2012 Neuronex US Private Acorda Therapeutics US 7 133 - Cash Epilepsy nasal spray2012 Nordsveen Norway Private Midsona S 5 11 - Cash Nutritional health2012 Pier Pharmaceuticals US Private VC Cortex Pharmaceuticals US 3 3 1 Shares 1 Sleep disorders2012 Oncogenerix US Private Dara Biosciences US 2 3 - Shares Oncology2012 Tacere Therapeutics US Private Benitec Biopharma Aus 2 2 - Shares Hepatitis C2012 Envoy Therapeutics US Private VC Takeda J 140 13 Cash Pre-clinical CNS, Parkinsons, Schizophrenia2012 Aenova G Private PE BC Partners UK - Cash Market Various2012 Alacer US Private Pfizer US - Cash Vitamin C, nutritional health2012 Alvos Therapeutics US Private Arrowhead Research US - - Oncology, RNA therapeutics2012 Anabasis Italy Private Dompe Italy - Cash Ophthalmology2012 Araclon Biotech Spain Private VC Grifols US - Cash Pre-clinical Alzheimer, CNS2012 Cardiokine US Private VC Cornerstone Therapeutics US 87 - Approval pend Metabolic2012 Cutanea Life Sciences US Private VC Maruho J 3 Cash 3 Dermatology2012 DiaKine Therapeutics US Private VC Islet Sciences US - Shares Pre-clinical Metabolic, diabetes2012 Eaton Scientific Systems US Private Pristine Solutions US - - Womens health, hot flashes2012 Eyetech US Private Valeant Canada - Cash Ophthalmology2012 Farmadiet Group Spain Private OPKO Health US - Cash Rheumatology, women's health, various2012 Kullgren Pharma S Private BBI Holdings UK - - OTC, womens health2012 Othera US Private VC Colby Pharmaceutical US 20 - 2 Opthalmology2012 Pedinol US Private Valeant Canada - Cash Podiatry, OTC2012 Pharma-Vinci DK Private Orcla Brands S - - Health nutrition2012 Scomedica-Finesco F Private Apricus Bio US - Shares Various, distribution2012 Spirig Pharma CH Private Galderma Pharma (Nestle) CH - Cash Dermatology2012 Swiss Herbal Remedies Canada Private Valeant Canada - Cash OTC2012 Triax Pharmaceuticals US Private PreCision Dermatology US - - Dermatology, acne

pharma biotech m a transactions 2005-2012

Documents

public private

cash shares

shares cash

vc vc vc

shares cash

cash

uk uk

ch uk