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COMPLETED MERGERS AND ACQUISITIONS - December 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Agritope Inc. (AGTO)

Exelixis Inc. (EXEL)

9/10

12/8

$31

Agritope stockholders will receive about 1.7M shares of Exelixis stock

Bartels Inc. (unit of Intracel Corp.)

Trinity Biotech plc (Ireland; TRIB)

12/18

12/18

$9.3

Trinity acquired the assets of Bartels for $9.3M, including $3.2M in Trinity stock

Biomatrix Inc. (NYSE:BXM)

Genzyme Tissue Repair and Genzyme Surgical Products

3/00

12/19

$611

Merger will create Genzyme Biosurgery, a new division of Genzyme Corp. with its own new stock; combined market value as of 3/3 totaled $1.3 billion; Biomatrix shareholders will hold approximately 47% of the new company; Genzyme and BioMatrix shareholders approved the merger agreement in December

Cambridge NeuroScience Inc. (UK: OTC BB:CNSI)

CeNeS Pharmaceuticals (UK; LSE:CEN)

5/23

12/21

ND

CeNeS and Cambridge NeuroScience merged with CeNeS issuing 42.6M shares

CliniChem Development Inc.

BioChem Pharma Inc. (Canada; BCHE; TSE:BCH)

10/26

12/18

$32.9

BioChem paid C$18.43 (US$12.129) per share for each CliniChem class A share for a total of US$32.9M

Coulter Pharmaceutical Inc. (CLTR)

Corixa Corp. (CRXA)

10/16

12/22

$570

Corixa acquired Coulter for about $570M with an exchange ratio of 1.003 shares of Corixa for each share of Coulter

Fielding Pharmaceutical Co.

Novavax Inc. (AMEX:NOX)

10/00

12/21

$31.5

Novavax completed its acquisition of Fielding, which will operate as a wholly owned subsidiary

GelTex Pharmaceuticals Inc.

Genzyme Corp. (GENZ)

9/00

12/15

$1B

Genzyme acquired GelTex issuing shareholders $22.59 in cash and 0.3818 of a share of Genzyme General, or $48.50 in cash, for each GelTex share

Immune Complex Corp.

Evax Technologies AG (Germany)

12/18

12/18

ND

Evax acquired Immune Complex and will change its name to Apovia AG; ICC will become Apovia Inc.

Kinetix Pharmaceuticals Inc.

Amgen Inc. (AMGN)

10/00

12/15

$170

Amgen acquired Kinetix for $170M

Medicomp Inc. and Telemedical Procedures LLC

United Therapeutics Corp. (UTHR)

12/28

12/28

$11.6

United Therapeutics paid $8M in cash and about 260,000 shares valued at about $3.6M

Megan Health Inc.

Avant Immunotherapeutics Inc. (AVAN)

11/00

12/00

$18

Avant issued 1.9M shares to Megan's shareholders; upon completion, Avant will have 57M shares outstanding

Mitoscan Corp.

Harvard Bioscience Inc. (HBIO)

12/28

12/28

$0.3

Harvard Bioscience acquired Mitoscan for up-front payments of $300,000, additional contingent payments and royalty payments based on sales

Moldyn Inc.

Structural Bioinformatics Inc.

12/00

12/00

ND

Structural Bioinformatics acquired Moldyn for an undisclosed amount

Mycota Biosciences Inc. (Canada)

Elitra Pharmaceuticals Inc.

10/00

12/00

$19.34

Elitra completed its acquisition issuing 5.95M shares; Mycota will continue as a wholly owned subsidiary of Elitra

COMPLETED MERGERS AND ACQUISITIONS - November 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Aquila Biopharmaceuticals Inc. (AQLA)

Antigenics Inc. (AGEN)

8/00

11/00

$40

Antigenics will issue about 2.5M shares of stock, and Aquila will operate as a wholly owned subsidiary of Antigenics

BioAlliance Inc. and Collaborative Smithfield Corp.

Dow Chemical Co. (NYSE:DOW)

10/00

11/00

ND

Dow acquired The Collaborative Group's Biotechnology Services Division, including all assets of the two companies

Biomune Systems Inc. (BIME)

Donlar Corp.

8/00

11/00

$5.8

Donlar owns approximately 96% voting control of Biomune; the resulting company will be re-named Donlar Corp.

Cistron Biotechnology Inc. (OTC BB:CIST)

Celltech Group plc (UK; LSE:CCH; NYSE:CLL)

3/00

11/00

$18

Cistron shareholders will receive about 0.0202 of a Celltech American depositary share in exchange for each outstanding Cistron share; Cistron will no longer be traded publicly

Crescendo Pharmaceuticals (CNDO)

ALZA Corp. (NYSE:AZA)

10/00

11/00

$100

ALZA exercised its option to acquire all outstanding Class A Crescendo common stock in cash

CytoGenesis Inc.

BresaGen Ltd. (Australia; AMEX:BGN)

8/00

11/00

ND

BresaGen issued about 7M shares and 2M options

DNX Transgenic Sciences Inc.

Xenogen Corp.

9/00

11/00

ND

Xenogen issued 3.5M shares of stock in exchange for all outstanding shares of DNX

Dura Pharmaceuticals Inc.(DURA)

Elan Corp. plc (Ireland; NYSE:ELN)

9/00

11/00

$1.8B

Elan acquired each share of Dura for 0.6715 of an Elan ADS

Immgenics Inc. (Canada)

Abgenix Inc. (ABGX)

9/00

11/00

C$110 (US$77)

Abgenix exchanged US$77M of its stock for all of ImmGenics shares and options

Intracardia Inc.

Cardiogene AG (Germany)

11/00

11/00

ND

Cardiogene will change its name to Cardion AG and the corporate headquarters will be in Erkrath, Germany; new company will focus on heart disease and cell transplantation

IntraImmune Therapies Inc.

Abgenix Inc. (ABGX)

11/00

11/00

$9

Abgenix acquired IntraImmune for $9M in cash

Oxford Asymmetry International plc (UK; LSE:OAI)

Evotec BioSystems AG (Germany; Neuer Markt:EVT)

7/00

11/00

$475

OAI shareholders received 0.1287 Evotec shares for each OAI share held; the offer values OAI at 722 pence per share, a premium of approximately 46%; OAI shareholders will own about 31% of the merged company

Synthetic Genetics

Epoch Biosciences Inc. (EBIO)

11/00

11/00

$3.1

Epoch acquired Synthetic Genetics from the Immune Complex Corp. for $3.1M in cash

COMPLETED MERGERS AND ACQUISITIONS - October 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Anesta Corp. (NSTA)

Cephalon Inc. (CEPH)

7/00

10/00

$444

Cephalon issued 6.7M shares to acquire Anesta; Anesta is a wholly owned subsidiary of Cephalon

BioQuest Inc. (Pink Sheets:BQST)

Biokeys Inc.

ND

10/00

ND

BioQuest and Biokeys merged to become publicly traded Biokeys Pharmaceuticals Inc. (Pink Sheets:BKYS) in a tax-free merger of equals

GSLI Life Sciences Inc. (GSLI)

Packard BioScience Co. (PBSC)

8/00

10/00

$120

Packard acquired GSLI Life Sciences, a division of GSI Lumonics Inc., including its bioinformatics software products, for $40M and approximately 4.6M shares of its common stock; the GSLI Life Sciences group will become a part of Packard BioChip Technologies LLC

HepaVec AG (Germany)

DeveloGen AG (Germany)

5/00

10/00

ND

The two companies merged to create a company focused on disease therapeutics based on developmental biology

Medeva Vaccines

PowderJect Pharmaceuticals plc (London, LS:PJP)

8/00

10/00

$79

PowderJect acquired the Medeva vaccines business from Celltech Group plc for $30M in cash and $32M as a balance payment on sales of the Fluvirin flu vaccine; the business will be merged into PowderJect's wholly owned subsidiary, PowderJect Vaccines

Neomorphic Inc.

Affymetrix Inc. (AFFX)

10/00

10/00

$70

Affymetrix will integrate Neomorphic's genomic data with its expressed sequence tag information, issuing approximately 1.4M shares in exchange for all of Neomorphic's outstanding shares and options; in lieu of an increase in the aggregate number of Affymetrix shares issued, it has the option of paying cash in an aggregate amount not to exceed $20M

Quorum Sciences Inc.

Aurora Biosciences Corp. (ABSC)

ND

10/00

$3.8

Aurora acquired Quorum Sciences for 81,287 shares of Aurora common stock

Talaria Therapeutics Inc.

Esperion Therapeutics Inc. (ESPR)

10/00

10/00

$7.2

All outstanding shares of Talaria were exchanged for 813,000 shares of Esperion common stock; Esperion will make milestone payments to Talaria stockholders in addition to royalties on net sales of large unilamellar vesicles

TerraGen Discovery Inc.

Cubist Pharmaceuticals Inc. (CBST)

8/00

10/00

$29

Cubist issued approximately $29M worth of stock (about 0.608M shares) to acquire TerraGen

COMPLETED MERGERS AND ACQUISITIONS - September 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Genovo Inc.

Targeted Genetics Corp. (TGEN)

8/00

9/00

$83.29

Targeted Genetics exchanged $83.29M worth of stock, or 6.63M shares, for all outstanding shares of Genovo

Hybridon (DNA manufacturing unit) (OTC:HYBN)

Avecia Inc.

9/00

9/00

$15

Avecia acquired the DNA manufacturing business of Hybridon, which will remain an independent company focused on oncology and immunotherapeutics

Life Technologies Inc. (LTEK) and Dexter Corp. (NYSE:DEX)

Invitrogen Corp. (IVGN)

7/00

9/00

$1.9B

Invitrogen acquired Life Technologies and Dexter for $1.9B in cash and stock; Dexter owned about 75% of Life Technologies; Invitrogen paid about $62.50 per share for Dexter, or $1.5B, and $60 per share for the Life shares not owned by Dexter, or $400M; the maximum cash portion for Dexter is $410M, and for Life, $105M

PathoGenesis Corp. (PGNS)

Chiron Corp. (CHIR)

8/00

9/00

$700

Chiron acquired PathoGenesis for $700M in cash ($38.50 per share)

Principia Pharmaceutical Corp.

Human Genome Sciences Inc. (HGSI)

9/00

9/00

$120

HGS exchanged $120M worth of stock for all outstanding shares and options of Principia

Signal Pharmaceuticals Inc.

Celgene Corp. (CELG)

6/00

9/00

$277

Celgene issued 3.7M shares to acquire Signal (rate of 0.1257 Celgene shares per Signal share)

STC Technologies Inc.

Epitope Inc. (EPTO)

5/00

9/00

$260

Companies merged to form OraSure Technologies Inc. (OSUR) to be headquartered in Bethlehem, Pa., with a focus on the oral fluid and point-of-care medical diagnostics industry; STC shareholders will receive approximately 19.3M shares of OraSure stock

Viral Antigens Inc.

Meridian Diagnostics Inc. (KITS)

9/00

9/00

$9

Purchase price includes $9M in cash and earnout opportunities over the next 6 years

COMPLETED MERGERS AND ACQUISITIONS - August 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Atossa Healthcare Inc.

Nastech Pharmaceutical Co. Inc. (NSTK)

8/00

8/00

ND

Nastech acquired Atossa; terms ND

BC Research Inc. (Canada)

Immune Network Ltd. (Canada; VSE:IMM)

8/00

8/00

ND

Immune Network acquired approximately two-thirds of BC Research

Borealis Biosciences Inc. (Canada)

Chalon Biotech Inc. (Canada)

8/00

8/00

ND

Companies merged to form Integrative Proteomics Inc. and expect to close soon on an $8M financing

Schein Pharmaceutical Inc. (NYSE:SHP)

Watson Pharmaceuticals Inc. (NYSE:WPI)

5/00

8/00

$508

Watson acquired Schein in a two-step transaction that included a cash tender and a taxable stock merger; the cash tender offer was at $19.50 per share of Schein; each Schein share was converted into $23 worth of Watson common stock; at least 24.5M shares of Schein had to be tendered under the agreement

Spiros Development Corp. II Inc. (SDCO)

Dura Pharmaceuticals Inc. (DURA)

2/00

8/00

$106

Dura paid $13.25 in cash for each share of SCDCII stock, plus one five-year warrant with a calculated value of $3.22 to purchase 0.19 shares of Dura common stock exercisable at $17.94 per share

Xtrana Inc.

Biopool International Inc. (OTC BB:BIPL)

5/00

8/00

$9.7

Biopool issued an aggregate of 9.4M shares of common stock in exchange for all Xtrana common and preferred stock; former shareholders of Xtrana own 50% of the company

COMPLETED MERGERS AND ACQUISITIONS - July 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Algos Pharmaceuticals Corp. (ALGO)

Endo Pharmaceuticals Holdings Inc.

11/99

7/00

$260

Algos stockholders received one share of Endo stock for each share of Algos held, plus warrants to be exercised for an undisclosed price per share into Endo common stock upon FDA approval of Morphidex, if approved by 12/31/02

Bio/Can Group (Canada)

Genomics One Corp. (Canada; MSE:GNX)

7/00

7/00

$3.1

Genomics One acquired Bio/Can for $3.1M, consisting of $1M in cash, 0.14M shares of capital stock and 0.12M warrants exercisable over 24 months at $7.85 per share

Cambridge Discovery Chemistry (unit of Oxford Molecular Group; UK; LSE:OMG)

Millennium Pharmaceuticals Inc. (MLNM)

7/00

7/00

$53

Millennium acquired Cambridge Discovery for $53M cash and financed the purchase through a simultaneous offering of its securities

Gamera Bioscience Corp.

Tecan (Switzerland; SWX:TCN)

7/00

7/00

$10

Tecan will pay $10M, including transaction costs, to acquire the assets and intellectual property of Gamera; Tecan also hired key personnel

Infogen Medizinisch Genetik GmbH (Germany)

ValiGen NV (the Netherlands and U.S.)

7/00

7/00

ND

ValiGen acquired all the outstanding common stock of Infogen through a share exchange

NEN Life Sciences

PerkinElmer Inc. (NYSE:PKI)

6/00

7/00

$400

PerkinElmer acquired NEN from an investor group led by Genstar Capital LLC for approximately $400M; transaction will be accounted for as a purchase

North Coast Clinical Laboratory Inc.

Clingenix Inc.

7/00

7/00

ND

Clingenix acquired North Coast under undisclosed terms; North Coast will join Research Services Inc. as a wholly owned subsidiary of Clingenix

Ontogeny Inc. and Reprogenesis Inc.

Creative BioMolecules Inc.

2/00

7/00

$434

Companies merged to form Curis Inc., with 43 percent of shares owned by former Creative BioMolecules shareholders, 38 by Ontogeny shareholders and 19 percent by Reprogenesis shareholders

Solco Basel AG (Switzerland)

ICN Pharmaceuticals Inc. (NYSE:ICN)

7/00

7/00

ND

ND

COMPLETED MERGERS AND ACQUISITIONS - June 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

ADL (Germany)

Matritech Inc. (NMPS)

6/00

6/00

$0.34M

Matritech acquired ADL for 37,153 shares of common stock, with an additional, performance-contingent payment of up to 13,700 shares to be made in 1Q:01

Celtrix Pharmaceuticals Inc. (CTRX)

Insmed Pharmaceuticals Inc. (INSM)

12/99

6/00

$73

Insmed acquired Celtrix, exchanging 1 share in a newly formed holding company for every 3.5 shares of Celtrix; former Insmed shareholders own about 59% of the merged company, while Celtrix shareholders hold about 41%

Cytovia Inc.

Maxim Pharmaceuticals (MAXM)

6/00

6/00

$77.2

Maxim acquired Cytovia for approximately 1.5M shares of common stock

Emerald BioStructures Inc.

MediChem Research Inc.

6/00

6/00

ND

MediChem, currently in registration for an IPO, issued 84,511 shares to acquire Emerald

Ethrog Biotechnologies Ltd. (Israel)

Invitrogen Corp. (IVGN)

6/00

6/00

$15.2

Invitrogen will issue 0.2M shares of common stock to acquire Ethrog

Genion Forschungs-
gesellschaft mbH (Germany)

Evotec BioSystems AG (Germany; Neuer Markt:EVT)

6/00

6/00

DM5 (US$2.4)

Evotec purchased Genion in a stock transaction

Nanodesign Inc.

SignalGene Inc. (Canada; TSE:SGI)

5/00

6/00

C$15 (US$10.2)

SignalGene acquired Nanodesign for 5.4M common shares and 1.4M warrants, plus C$2M (US$1.35M) in cash

North American Vaccine Inc. (AMEX:NVX)

Baxter International Inc. (NYSE:BAX)

11/99

6/00

$380

NAV shareholders received $6.73 per share ($6.70 in Baxter common stock and $0.03 in cash); transaction accounted for as a purchase

Operon Technologies Inc.

Qiagen NV (The Netherlands; Neuer Markt:QIA)

6/00

6/00

$110

Qiagen purchased Operon with 0.6M shares of common stock and assumed options on Operon stock

Paracel Inc.

Celera Genomics (NYSE:CRA)

3/00

6/00

$218

Celera acquired Paracel for 2.26M shares of common stock (worth $244.6M on 6/9/00)

Quay Pharmaceuticals Pty Ltd. (Australia)

Cellegy Pharmaceuticals Inc. (CLGY)

4/00

6/00

ND

Cellegy acquired Quay for stock and cash

COMPLETED MERGERS AND ACQUISITIONS - May 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Allegro Inc.

GenStar Therapeutics

5/00

5/00

ND

GenStar acquired technologies from Allegro for the treatment and prevention of AIDS and lentiviral gene therapy

The 50% stake of Althin BioPharm owned by Axcan Pharma Inc. (Canada; AXCA)

Baxter International Inc. (NYSE:BAX)

5/00

5/00

C$7.5 (US$5)

Baxter acquired Axcan's 50% interest in Althin by paying C$7.5M (US$5M) in cash at closing

Apoptogen Inc. (Canada)

Exogen Neurosciences Inc. (Canada)

4/00

5/00

ND

The companies merged to form Aegra Therapeutics Inc., with operations centralized in Montreal

Axys Advanced Technologies Inc. (unit of Axys Pharmaceuticals Inc.; AXPH)

Discovery Partners International (DPII)

4/00

5/00

$60

Axys Pharmaceuticals Inc. spun out its combinatorial chemistry subsidiary, allowing it to merge with Discovery

The Liposome Co. Inc. (LIPO)

Elan Corp. plc (Ireland; NYSE:ELN)

3/00

5/00

$575

Elan acquired all of Liposome's outstanding stock for 0.3850 of an Elan ADS and one contingent value right for each share; includes cash payment of $98M, wiht 54M contingent on approvals of Myocet and $44M contingent on the product reaching certain milestones

Novalon Pharmaceutical Corp.

Karo Bio (Sweden; SSE:KARO)

3/00

5/00

$107

Karo issued 2.2M shares and option rights for about 0.09M (in total, about 20% of teh company) to Novalon shareholders; Novalon will operate as a wholly owned subsidiary of Karo with no staffing or directional changes anticipated

Segix Italia (Italy)

Elan Corp. plc (Ireland; NYSE:ELN)

5/00

5/00

ND

Elan acquired Segix, a marketing, sales and manufacturing company with product sales of $25M in 1999

COMPLETED MERGERS AND ACQUISITIONS - April 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Mimetrix (UK; drug discovery unit of Peptide Therapeutics plc; LSE:PTH)

Medivir AB (Sweden)

4/00

4/00

ND

Medivir acquired Mimetrix for an undisclosed amount; completion of the transaction was contingent upon Medivir's raising 22M (US$35.2M)

Novopharm Ltd. (Canada)

Teva Pharmaceutical Industries Ltd. (Israel; TEVA)

12/99

4/00

$266

Dan Family Holdings, the sole shareholder of Novopharm, received equity securities representing approximately 6.2% of Teva's outstanding shares

t. Breeders Inc.

Viacord Inc.

4/00

4/00

ND

The companies merged to form ViaCell Inc., which raised $11M from three venture capital firms upon closing of the agreement; the company will maintain two facilities

COMPLETED MERGERS AND ACQUISITIONS - March 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

GeneScape Inc.

SignalGene (Canada; TSE:SGI)

2/00

3/00

$15.2

SignalGene acquired GeneScape for 6.6M shares, for a total of C$22.1M (US$152M)

LifePlan

HIV-VAC Inc. (OTC BB:HIVC)

3/00

3/00

$0.15

HIV-VAC Inc. became a fully reporting company via acquisition of LifePlan for 0.1M shares of stock

MarDx Diagnostics Inc.

Trinity Biotech plc (Ireland; TRIBY)

3/00

3/00

$4

Trinity acquired MarDx for $4M and will locate its marketing and sales staff for North and South America in MarDx's Carlsbad, Calif., facility

Millennium Predictive Medicine Inc.

Millennium Pharmaceuticals Inc. (MLNM)

3/00

3/00

ND

MPMx shareholders will receive one share of new Millennium common stock in exchange for five MPMx shares, subject to adjustment for the company's recent 2-for-1 stock split

Mitotix Inc.

GPC AG (Germany; Neuer Markt:GPC)

3/00

3/00

ND

GPC acquired Mitotix in an all-stock transaction to create GPC Biotech AG, which will be headquartered in Munich and operate U.S. facilities in Cambridge, Mass., and Princeton, N.J.

Small Molecule Therapeutics Inc.

Morphochem AG (Germany)

3/00

3/00

ND

Morphochem and SMT will become a fully integrated company with SMT a wholly owned U.S. subsidiary called Morphochem Inc.

Strata Biosciences

GeneTrace Systems Inc.

3/00

3/00

ND

GeneTrace closed a Series B financing in conjunction with the acquisition and consolidated operations at GeneTrace's facilities in Alameda, Calif.

Synergy Pharmaceuticals Inc.

United Therapeutics Corp. (UTHR)

3/00

3/00

ND

As part of licensing agreement for antiviral compounds, United acquired a 15% stake in Synergy with an option to acquire the remainder

Tyrogene Biotechnologies Inc.

Kinetek Pharmaceuticals Inc.

3/00

3/00

ND

Kinetek acquired Tyrogene and its assets and expertise for the development of protein tyrosine phosphates

COMPLETED MERGERS AND ACQUISITIONS - February 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

Advanced Cell Technology Inc.

ACT Group Inc.

2/00

2/00

ND

ACT acquired a majorty of Avian Farm's interest in Advanced Cell, as well as stakes in two agbiotech companies (CIMA Biotechnology Inc. and Cyagra LLC)

American Advanced Organics Inc.

Albany Molecular Research Inc. (AMRI)

2/00

2/00

$2.3

Albany acquired AAO for $2.3M in cash and stock and will pay up to $0.8M in addition based on AAO's financial performance in 2000 and 2001

Cancer Diagnostic Inc.

Lexon Inc.

2/00

2/00

$0.2M

Lexon acquired Cancer Diagnostic for $0.2M in cash and notes, made in lieu of Lexon's original plan to merge by issuing 0.5M shares to Cancer Diagnostic's owners

Cobra Therapeutics Ltd. (UK)

ML Laboratories plc (UK)

2/00

2/00

8 (US$12.7)

Cobra shareholder ML Laboratories acquired the company in an all-share deal valuing Cobra at 8M (US$12.7M); in addition, ML will pay up to 12M (US19.2M) in milestones; Cobra's facilities will be retained

DNA Sciences

Genetic Vectors Inc.

10/99

2/00

$2.5

Genetic Vectors acquired DNA Sciences for 0.45M common shares (2/1)

Genetic MicroSystems Inc.

Affymetrix Inc. (AFFX)

9/99

2/00

$100

Affymetrix acquired Genetic MicroSystems by issuing approximately 1M shares of common stock for all outstanding GMS shares

Kimeragen Inc.

ValiGene SA (France)

2/00

2/00

ND

Under merger-of-equals transaction, companies created ValiGen, with scientific operations in both Paris and Newtown, Pa., and an agricultural division in San Diego

Opticon Inc.

Immune Response Inc. (IMNR)

1/00

2/00

$3

Immune Response acquired Opticon and is now operating through its wholly owned subsidiary, Opticon Medical Inc.

Pharmazyme (division of Immune Complex Corp.; IMNX)

PPD Discovery (unit of PPD Inc.; PPDI)

2/00

2/00

ND

PPD acquired the assets of Pharmazyme, which develops, makes and markets drug metabolism reagent products and services

Research Genetics Inc.

Invitrogen Corp. (IVGN)

6/99

2/00

$220.8

Invitrogen acquired Research Genetics for 3.2M Invitrogen sharese

Synopsys Scientific Systems Ltd.

Pharmacopeia Inc. (PCOP)

2/00

2/00

$25

Pharmacopeia acquired all of Synopsys' outstanding stock in a transaction valued at approximately $25M, consisting primarily of cash

Vysis Sarl (France)

Applied Genetic Services Ltd.

2/00

2/00

$1.2

Vysis sold its wholly owned French subsidiary, Vysis Sarl, for $1.2M; in conjunction with the sale, AGS was appointed Vysis' exclusive French distributor for several product lines

COMPLETED MERGERS AND ACQUISITIONS - January 2000

Company Acquired

Acquired By Or Merged With

Date Announced

Date Completed

Value (M)

Terms/Details

BioNexus Genomics Inc.

Ashni Nutraceuticals Inc.

1/00

1/00

ND

Terms ND

Cambridge Drug Discovery Ltd. (UK)

Cambridge Genetics Ltd. (UK)

1/00

1/00

8.25E (US$13.2)

The merger was accomplished through a stock-for-stock exchange; CGL also paid Oxford Molecular Group plc (LSE:OMG) 1.65M (US$2.64M) for its 20% stake

Discovery Technologies Ltd.

Discovery Partners International (DPII)

6/99

1/00

ND

Discovery Technologies became a wholly owned subsidiary of Discovery Partners, retaining its headquarters in Switzerland

Heaven's Door Corp.

Procept Inc.

11/99

1/00

$67.2

Procept issued 10.92M shares of common stock to Heaven's Door shareholders in exchange for 65% ownership of the new firm, HeavenlyDoor.com (HVDC);

Medeva plc (UK)

Celltech Chiroscience (UK; NYSE:CLL)

11/99

1/00

563 (US$912)

Celltech acquired Medeva, offering 34 new shares for every 100 Medeva shares; Celltech shareholders now hold 56% of the combined company, which is called Celltech Group plc, with Medeva investors owning 44%

Shanghai Genecore Biotechnologies Co. Ltd. (China)

Celera Genomics (NYSE:CRA)

1/00

1/00

ND

Celera acquired 47.5% of the equity in Shanghai, a stake formerly held by Axys Pharmaceuticals Inc. (AXPH); Celera's sister company PE Biosystems (NYSE: PEB) also owns 47.5% interest, giving parent firm PE Corp. a 95% stake


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