Mintz Levin Counsel to Two Major Biotech Companies in Financing Transactions Totaling $31 Million
1/21/2004
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC announced it has served as counsel to two major biotechnology companies, OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN) and V.I. Technologies, Inc. (NASDAQ: VITX), in recent financing transactions.
Waltham, MA-based OXiGENE raised $24.2 million in an offering of stock pursuant to the company's outstanding shelf registration statement. Lehman Brothers served as lead placement agent for the offering, along with Rodman & Renshaw, Inc. and Roth Capital Partners, LLC serving as co-placement agents. The transaction also included Lazard as a financial advisor.
Watertown, MA-based V.I. Technologies raised $6.6 million in a private placement of stock with a group of institutional investors. S.G. Cowen Securities Corporation served as the exclusive placement agent for this transaction, which is subject to receipt of shareholder approval prior to closing.
"With recent biotech IPOs under-performing, many investors are looking to put money into biotech companies that are already public and trading at attractive prices," said Bill Whelan, an attorney in Mintz Levin's Boston office. These recent deals are solid examples of that trend."
Jonathan Kravetz and Megan Gates, attorneys in Mintz Levin's Boston office, represented OXiGENE in its transaction, and Bill Whelan and Megan Gates represented V.I. Technologies in its offering.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC is a multidisciplinary law firm with over 450 attorneys and senior professionals in Boston, Washington D.C., Reston, VA, New York, New Haven, CT, Los Angeles and London.
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