Biotech New Deal Calendar

AUG. 1 WEEK

ANADYS PHARMACEUTICALS INC. (Symbol: ANDS): secondary offering of 4 million shares; greenshoe of 600,000 shares; proceeds estimated at $51.35 million, including the greenshoe and assuming an offering price of $11.99 per share; joint bookrunners are Credit Suisse First Boston and SG Cowen; co-managers are Piper Jaffray and Needham & Co; San Diego-based Anadys plans to use proceeds for clinical and preclinical development of product candidates, for discovery research for new product candidates and for general corporate purposes, including working capital.

ARIAD PHARMACEUTICALS INC. (Symbol: ARIA): secondary offering of 6 million shares; greenshoe of 900,000 shares; proceeds estimated at $48.1 million, including greenshoe and assuming an offering price of $7.48 per share; sole bookrunner is Lehman Brothers; co-managers are Lazard Capital Markets and SG Cowen & Co.; Cambridge, Mass.-based Ariad plans to use proceeds for operations - research and development, clinical trials, product manufacturing, intellectual property protection and enforcement - working capital and general corporate purposes such as repayment or refinancing of debt, capital expenditures and possible acquisitions.

ELI LILLY & CO. (Symbol: LLY): Rule 144A; $1.5 billion of floating-rate notes; rated AA by S&P; price talk of a yield of Libor minus 300 basis points in year one, Libor minus 100 bps in year two and Libor plus 100 bps in year three; joint bookrunners are Merrill Lynch, Goldman Sachs and Deutsche Bank Securities ; proceeds will be used for general corporate purpose, including litigation liabilities and to help fund the repatriation of $8 billion in overseas earnings per the American Jobs Creation Act of 2004; slated to price Thursday.

NASTECH PHARMACEUTICAL CO. INC. (Symbol: NSTK): secondary offering of 1.5 million shares; greenshoe of 225,000 shares; Needham & Co. is bookrunner; co-managers are SunTrust Robinson Humphrey and Delafield Hambrecht Inc.; Bothell, Wash.-based Nastech is involved in the discovery of proprietary molecular biology-based drug delivery technologies for multiple areas, including inflammatory conditions, obesity and osteoporosis; proceeds slated for general corporate purposes, including the funding of clinical research and development programs, the clinical development of pipeline, capital expenditures and working capital needs.

ZYMOGENETICS INC. (Symbol: ZGEN): secondary offering of 6.5 million shares; greenshoe of 975,000 shares; Seattle-based biotech has earmarked proceeds for clinical and preclinical development of existing product candidates, discovery and development of additional product opportunities, capital expenditures and working capital, and other general corporate purposes; Merrill Lynch & Co. is bookrunner; co-managers are Pacific Growth Equities LLC, Bear Stearns & Co. Inc. and Piper Jaffray & Co.

AUG. 8 WEEK

BIODELIVERY SCIENCES INTERNATIONAL INC. (Symbol: BDSI): secondary offering of 7 million shares; 15% greenshoe available; Morrisville, N.C., company to use proceeds to fund the continued development of its two leading drug candidates and general corporate purposes, including working capital; lead manager is Ferris, Baker Watts Inc.; co-managers are Maxim Group LLC and GunnAllen Financial Inc.

UPCOMING BANK CLOSINGS

FRESENIUS MEDICAL CARE AG: Pro rata bank meeting was June 23, term B likely launching in the fall; $5 billion senior credit facility; Bank of America and Deutsche Bank, with Bank of America left lead; $1 billion revolver at Libor plus 137.5 bps; $2 billion five-year term A at Libor plus 137.5 bps; $2 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.

IPOs ON THE HORIZON

ACCENTIA BIOPHARMACEUTICALS INC. (Symbol: ABPI): initial public offering of 6.25 million shares, including 1 million by Pharmaceutical Product Development Inc.; greenshoe for 937,500 shares; proposed at $8 to $10 per share, reduced from $11 to $13 per share; Tampa, Fla.-based company plans to use proceeds to repay in full an outstanding loan from McKesson Corp., complete phase III clinical trials for SinuNase, complete a phase III clinical trial for Biovaxid, complete the design and prototype for an automated production and purification system for the manufacture of Biovaxid, to fund milestone payments due to partners with respect to products in the pipeline, and general corporate purposes, including working capital and capital expenditures; via Jefferies & Co. Inc. (books); co-managers are Robert W. Baird & Co., Ferris Baker Watts Inc. and Stifel Nicolaus & Co. Inc.

ADVANCED LIFE SCIENCES INC. (Symbol: ADLS): initial public offering; 5 million shares, revised from 4.5 million shares; proposed at $8 to $9 per share, revised from $11 to $13 per share; Woodbridge, Ill.-based Advanced Life Sciences is focused on novel drugs in the areas of infectious disease, inflammation and oncology; proceeds, together with existing cash, earmarked to continue clinical development of cethromycin and make related milestone and license payments to Abbott Laboratories, repay debt and general corporate purposes, including the continued development of other product candidates and working capital; underwriters are C.E. Unterberg Towbin, ThinkEquity Partners LLC and Merriman Curhan Ford & Co.

ALGORX PHARMACEUTICALS INC. (Symbol: AGRX): initial public offering of 6.8 million shares; greenshoe of 1.02 million shares; price range of $7 to $8 per share; Secaucus, N.J.-based emerging biopharma company is focused on pain medications, with three product candidates in various stages of clinical programs; proceeds, together with our cash on hand, to be used for continuing development of product candidates, clinical trial programs and new drug applications, to fund operations, provide working capital and other general corporate purposes, which may include in-licensing or acquiring additional product candidates; underwriters are Credit Suisse First Boston, Citigroup, Piper Jaffray and Lazard.

AMPHASTAR PHARMACEUTICALS INC. (Symbol: 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 of 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 Deutsche Bank Securities.

ATRICURE INC. (Symbol: ATRC): initial public offering of 4 million shares; greenshoe of 500,000 shares - 150,000 shares by the company and 600,000 by existing shareholders; proposed at $12 to $14 per share; founded in November 2000, West Chester, Ohio-based company, which makes devices used in cardiothoracic surgery, plans to use $6.0 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.

AVALON PHARMACEUTICALS INC. (Symbol: AVRX): initial public offering of 4.5 million common shares; greenshoe of 675,000 shares; proposed at $10 to $12 per share; Germantown, Md.-based clinical stage biopharmaceutical company is focused on the discovery and development of small molecule therapeutics for the treatment of cancer; proceeds to be used to fund clinical trials, development and selection of additional drug candidates, licensing, acquisitions, working capital, capital expenditures and general corporate purposes; underwriters are Legg Mason Wood Walker, Jefferies & Co. and First Albany Capital.

BIONUMERIK PHARMACEUTICALS INC. (Symbol: 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 anti-tumor chemotherapy drug; proceeds earmarked to complete Tavocept manufacturing and commercialization, advance phase III 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.

CELLDEX THERAPEUTICS (Symbol: CDEX): initial public offering of 4 million shares; greenshoe of 600,000 shares; proposed at $8 to $10 per share; spinoff from Medarex Inc., which on completion of the IPO will own about 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.

CHINA MEDICAL TECHNOLOGIES INC. (Symbol: CMED): initial public offering of 5 million American Depositary Shares, 750,000 ADS greenshoe; proposed at $14 to $16 per ADS; to raise $92 million at mid-point, if greenshoe is exercised; Beijing-based developer of ultrasound equipment to treat cancers and tumors will use proceeds for equipment, sales and marketing, research and development and licensing payments; UBS Investment Bank.

COLEY PHARMACEUTICAL GROUP INC. (Symbol: COLY): initial public offering of 6 million shares; proposed at $14 to $16 per share; Pfizer Inc. has agreed to purchase up to $10 million of shares in a private placement concurrently at the offering price; Wellesley, Mass.-based company develops drugs for cancers, infectious diseases and respiratory disorders; proceeds will be used to fund growth and general corporate purposes, including clinical trials and drug development activities, expansion of our infectious disease program, prosecution and maintenance of patents, working capital and capital expenditures; underwriters are Merrill Lynch & Co., JPMorgan, Lazard Capital Markets and Leerink Swann & Co.

COMBINATORX INC. (Symbol: CRXX): initial public offering of 6 million shares; greenshoe of 900,000 shares; proposed at $10 to $12 per share; Boston-based company is focused on developing new medicines built from synergistic combinations of approved drug with clinical trials under way for seven product candidates targeting multiple immuno-inflammatory diseases and cancer; proceeds will be used to fund clinical trials, development of additional product candidates, working capital, capital expenditures and general corporate purposes such as possible acquisitions; underwriters are S.G. Cowen & Co., Pacific Growth Equities LLC, SunTrust Robinson Humphrey and A.G. Edwards & Sons Co.

ELECTRO-OPTICAL SCIENCES INC. (Symbol: MELA): initial public offering of common stock; estimated proceeds $33 million; price range $10 to $12; 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.

GENOMIC HEALTH INC. (Symbol: GHDX): initial public offering of common stock; estimated proceeds of $75 million; Redwood City, Calif.-based company developing genomic-based clinical diagnostic tests for cancer; JPMorgan, Lehman Brothers (joint bookrunners), Piper Jaffray, Thomas Weisel Partners, JMP Securities.

INTARCIA THERAPEUTICS INC. (Symbol: ITCA): initial public offering of common shares; no estimates yet available; Emeryville, Calif.-based company focused on therapeutic products for the treatment of cancer and infectious diseases such as breast cancer and hepatitis C; proceeds earmarked to fund product development activities and general corporate purposes such as acquisitions; underwriters are Credit Suisse First Boston (bookrunner), Pacific Growth Equities and Lazard Capital Markets.

NXSTAGE MEDICAL INC. (Symbol: NXTM): initial public offering of common stock; estimated proceeds of $75 million; Lawrence, Mass.-based company develops and makes dialysis systems; proceeds for working capital, to expand manufacturing and for general corporate purposes; pre-IPO, Sprout Group holds 6.98 million shares or 36.5% and Atlas Ventures holds 3.29 million shares or 17.3%; underwriters are Merrill Lynch, Thomas Weisel Partners, William Blair & Co. and JMP Securities.

PREDIX PHARMACEUTICALS HOLDINGS INC. (Symbol: PRDX): initial public offering; estimated proceeds of $70 million; timing and number of shares not yet determined; bookrunner is UBS Investment Bank; joint lead manager is Deutsche Bank Securities; co-managers are CIBC World Markets and ThinkEquity Partners LLC; Lexington, Mass.-based company, focused on highly selective small-molecule drugs that target G-Protein Coupled Receptors and ion channels, plans to use proceeds to fund continued clinical trials and general corporate purposes.

PRESTWICK PHARMACEUTICALS INC. (Symbol: PWCK): initial public offering of common stock; Washington, D.C.-based specialty pharmaceutical company develops small molecule drugs hat target chronic diseases of the central nervous system; proceeds slated to fund clinical trials, working capital and general corporate purposes, including capital expenditures; underwriters are UBS Investment Bank, Deutsche Bank Securities and CIBC World Markets.

RELIANT PHARMACEUTICALS INC. (Symbol: RRX): initial public offering of common stock; 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.

SKINMEDICA INC. (Symbol: SKMD): initial public offering of common shares; no estimates given yet; Carlsbad, Calif.-based dermatological company plans to use proceeds for working capital, for licensing products, to increase its sales force and for general corporate purposes; underwriters are S.G. Cowen & Co. (bookrunner), Piper Jaffray, Thomas Weisel Partners and C.E. Unterberg Towbin.

SUNESIS PHARMACEUTICALS INC. (Symbol: SNSS): initial public offering of common shares; no estimates available yet; South San Francisco-based company develops small molecule therapeutics for oncology, inflammatory diseases and other conditions; proceeds will be used to fund clinical trials, repay debt, working capital, capital expenditures and general corporate purposes; underwriters are Lehman Brothers, S.G. Cowen & Co. (joint bookrunners) and Needham & Co.

VALERA PHARMACEUTICALS INC. (Symbol: VLRX): initial public offering of common shares; no estimates given; Cranbury, N.J.-based company focused on the treatment of urological and endocrine conditions; proceeds will be used to fund expansion of sales and marketing force, research and development activities, to expand manufacturing facilities and general corporate purposes; underwriters are UBS Investment Bank (bookrunner), Banc of America Securities (joint lead), First Albany Capital and Fortis Securities.

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.

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