Week 11/22/2004 through 11/28/2004

Prepared by: Dante Fichera, CPA

What’s Hot this reporting period are venture backed companies based in Massachusetts operating in the Biotechnology industry and that have raised their Later round of financing.

On Wall Street CapitalHunter.com identified the following IPO’s:

1. First Marblehead had its initial public offering this week for $191.6 million and trades under the ticker FMD.
2. UAP Holding had its initial public offering this week for $439 million and trades under the ticker UAPH.

CapitalHunter.com was able to verify that $175 million of venture capital was invested in 15 U.S.-based companies during this week’s reporting period. The average deal size was approximately $11.67 million. The amount of venture capital invested this period decreased by 33% from last week’s $262 million.

Geographically,4 Massachusetts companies raised $96.8 million in venture financings. The largest private venture financing in Massachusetts this period was into Synta Pharmaceuticals who raised $80 million. Synta Pharmaceuticals is a Lexington an emerging pharmaceutical company focused on discovering, developing, and commercializing products for extending and enhancing the lives of patients with severe medical conditions. Two lead products are in multiple Phase 2 clinical studies for inflammatory diseases and cancer.

The biotechnology sector raised 48% of the venture capital this period. Two biotechnology companies raised $84 million in venture financing. The largest private venture financing in the biotechnology sector this period was into Synta Pharmaceuticals.

Companies raising their later round of financing led this week’s venture capital activity. Later stage financings represented 50% of the total venture capital deployed this period. The largest later round financing was into Synta Pharmaceuticals.

The three largest venture deals this period are as follows:

The following twleve and other unnamed investors funded the above mentioned top three venture capital investments for $128 Million:

A total of 36 worldwide equity financings of private and public companies occurred during this reporting period. Each of the 36 equity financings are profiled in a weekly report which include venture financings, private placements, secondary offerings, PIPE’s, and IPO’s.

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