Biotech New Deal Calendar

IPOs

JUNE 13 WEEK

CRYOCOR INC. (Symbol: CRYO): Dutch auction IPO for 3 million shares; greenshoe for 450,000 shares; proposed price range revised to $11 to $13 per share, bumped up from original plan of $10 to $14 per share; San Diego-based maker of catheters plans to use $11 million of proceeds to continue product development and complete ongoing clinical trials, $5 million to build sales and marketing capabilities, working capital and other general corporate purposes; company said investors William Blair Capital Partners, Healthcare Equity Partners LP, MPM Capital LP and OrbiMed Associates LLC are interested in buying $12 million worth of shares in the IPO; underwriters are WR Hambrecht & Co. (books), First Albany Capital Inc. and Roth Capital Partners.

EV3 INC. (Symbol: EVVV): 11.765 million shares; proposed at $16 to $18 per share; Plymouth, Minn.-based company focused on catheter-based, or endovascular, technologies for the minimally invasive treatment of vascular diseases and disorders; $75 million of proceeds will be used to repay $30.3 million of demand notes plus $44.7 million of accrued and unpaid interest held by Warburg Pincus Equity Partners LP and The Vertical Group LP, which collectively owned 90% of ev3 shares prior to the IPO, and the remainder for general corporate purposes; underwriters are Piper Jaffray, Banc of America Securities (joint books), Bear Stearns & Co. Inc. and Thomas Weisel Partners.

GENTIUM SPA: (Symbol: GNT): 2.7 million shares; greenshoe of 405,00 shares; proposed at $9 to $11 per share; Italy-based biopharmaceutical company focused on the research, discovery and development of drugs to treat and prevent a variety of vascular diseases and conditions related to cancer; proceeds to be used to repay series A senior convertible plus accrued interest estimated at $343 million, research and development, clinical trials, repayment of Sirton loans, capital improvements, to hire personnel, repay short-term bank debt, working capital and general corporate purposes; underwriters Maxim Group LLC and I-Bankers Securities Inc.

HEMOSENSE INC. (Symbol: HEMO): 3.5 million shares; proposed at $8 to$10 per share, down from original plans for Dutch auction IPO at $9 to $13; San Jose, Calif.-based firm makes handheld blood coagulation monitoring systems; $12 million of proceeds earmarked for sales and marketing initiatives to support the ongoing commercialization of products, $4 million for research and development activities and $1.5 million for repayment of promissory notes held by affiliates, working capital and general corporate purposes; underwriter WR Hambrecht & Co.

MICRUS ENDOVASCULAR CORP. (Symbol: MEND): 3.25 million shares; greenshoe of 487,500 shares; proposed at $12 to $14 per share; Sunnyvale, Calif.-based company makes medical devices used in the treatment of cerebral vascular diseases; company plans to use proceeds for general corporate purposes, including costs associated with entry into the Japanese market, expansion of its sales force, research and development, facilities expansion and other working capital and capital expenditures; underwriters are A.G. Edwards (books) and Needham & Co.

IPOs ON THE HORIZON

ACCENTIA BIOPHARMACEUTICALS INC. (Symbol: ABPI): 6.25 million shares, including 1 million by Pharmaceutical Product Development Inc.; greenshoe for 937,500 shares; proposed at $11 to $13 per share; Tampa-based company plans to use $6.1 million to repay in full an outstanding loan from McKesson Corp., $5.2 million to complete Phase III clinical trials for SinuNase, $22.9 million to complete a Phase III clinical trial for Biovaxid, $4.3 million to complete the design and prototype for our automated production and purification system for the manufacture of Biovaxid, $6.7 million to fund milestone payments due to partners with respect to products in the pipeline, and general corporate purposes, including working capital and capital expenditures; lead underwriter is Jefferies & Co. Inc.; co-managers are Robert W. Baird & Co., Ferris Baker Watts Inc. and Stifel Nicolaus & Co. Inc.

ATRICURE INC. (Symbol: ATRC): founded in November 2000, West Chester, Ohio-based company, which makes devices used in cardiothoracic surgery, plans to use $6 million to $6.5 million of proceeds to fund the acquisition of Enable, which manufactures the handpieces of some AtriCure devices, with other remaining proceeds for working capital and to repay outstanding bank credit facilities; underwriters are UBS Investment Bank, Piper Jaffray (joint books), Thomas Weisel Partners and A.G. Edwards.

CELLDEX THERAPEUTICS (Symbol: CDEX): 4 million shares; greenshoe of 600,000 shares; proposed at $8 to $10 per share; spin-off from Medarex Inc., which on completion of the IPO will own approximately 70% of outstanding Celldex shares; company develops therapeutic vaccines, monoclonal antibodies and other products for the treatment of cancer, infectious diseases and immune system disorders; to use proceeds to continue the clinical development of products, advance preclinical products into clinical development, expand research programs, pay potential technology license and other fees to Medarex and others, in-license technology, pay a portion of the acquisition costs for Alteris and other potential acquisitions, fund working capital and general corporate purposes; underwriters are Janney Montgomery Scott and ThinkEquity Partners.

ELECTRO-OPTICAL SCIENCES INC. (Symbol: MELA): estimated proceeds $33 million; Irvington, N.Y., based medical device company focuses on instruments used in the early diagnosis of melanoma plans to use proceeds to fund research and development, including clinical studies, build a sales and marketing force and for general corporate purposes, including working capital, facilities expansion and potential acquisitions; underwriters are Ladenburg Thalmann & Co. Inc. and Stanford Group Co.

RELIANT PHARMACEUTICALS INC. (Symbol: RRX): estimated proceeds $300 million; Liberty Corner, N.J.-based company develops and markets branded cardiovascular drugs; plans to use proceeds to acquire rights to additional pharmaceutical products, increase promotional activities for existing product portfolio, fund clinical development projects and general corporate purposes; lead underwriter is Goldman Sachs & Co.; co-managers are Banc of America Securities, Deutsche Bank Securities, JPMorgan, William Blair & Co. and Lazard Capital Markets.

CONVERTIBLES

INVITROGEN CORP. (Symbol: IVGN): $300 million of 20-year senior convertible notes; $50 million greenshoe; price talk is for a yield of 2.75% to 3.25%, with an initial conversion premium of 27.5% to 32.5%; non-callable for six years, with puts in years six, 10, and 15; bookrunners UBS Investment Bank and Banc of America; proceeds to repay $124 million borrowed under a revolving line of credit with Bank of America NA and other outstanding debt; scheduled to price after market close June 14.

DEBT ON THE HORIZON

MEDICIS PHARMACEUTICAL CORP. (Symbol: MRX): $650 million seven-year senior secured credit facility; Deutsche Bank; help fund acquisition of Inamed Corp.; Scottsdale, Ariz., specialty pharmaceutical company.

MYLAN LABORATORIES INC. (Symbol: MYL): $775 million of new bank debt, to be used with $500 million of cash on hand, to fund $1.25 billion stock buyback; $775 million five-year senior secured term loan; also $200 million five-year revolver for general corporate purposes; commitment from Merrill Lynch; Canonsburg, Pa.-based generic and branded drugmaker is buying back 25% of outstanding stock.

FRESENIUS MEDICAL CARE AG: $5 billion senior credit facility; Bank of America and Deutsche Bank; $1 billion revolver; $1.51 billion five-year term A; $2.5 billion seven-year term B; finance acquisition of Renal Care Group Inc. for about $3.5 billion, plus the assumption of about $500 million of Renal debt, and refinance Fresenius credit facility; Bad Homburg, Germany, dialysis products and services provider.

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