SC 13D/A 1 sc13da2-axcan.txt AXCAN PHARM INC -- AMENDMENT NO. 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 2)* AXCAN PHARMA INC. ----------------- (Name of Issuer) COMMON SHARES, NO PAR VALUE --------------------------- (Title of Class of Securities) 054923107 (CUSIP Number) Keith Tarleton Perseus-Soros BioPharmaceutical Fund, L.P. 888 Seventh Avenue, 29th Floor New York, NY 10016 Tel. No. (212) 651-6400 ------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) SEPTEMBER 5, 2003 ----------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [_]. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Continued on following pages Page 1 of 21 pages Exhibit Index on Page 17 CUSIP No. 054923107 SCHEDULE 13D Page 2 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). PERSEUS-SOROS BIOPHARMACEUTICAL FUND, L.P. -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 1,000,000 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 0 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 1,000,000 With --------------------------------------------------- 10 Shared Dispositive Power 0 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): PN -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 3 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). PERSEUS-SOROS PARTNERS, LLC -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 1,000,000 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 0 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 1,000,000 With --------------------------------------------------- 10 Shared Dispositive Power 0 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 4 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). PERSEUS BIOTECH FUND PARTNERS, LLC -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 5 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). SFM PARTICIPATION, L.P. -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): PN -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 6 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). SFM AH LLC -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): PN -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 7 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). PERSEUS EC, L.L.C. -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 8 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). PERSEUSPUR, LLC -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): OO -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 9 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). FRANK H. PEARL (in the capacity described herein) -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): IA -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 10 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). GEORGE SOROS (in the capacity described herein) -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): IA -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 11 of 21 -------------------------------------------------------------------------------- 1 Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only). SOROS FUND MANAGEMENT LLC -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (See Instructions) a. [_] b. [X] -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Source of Funds (See Instructions) Not Applicable -------------------------------------------------------------------------------- 5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware -------------------------------------------------------------------------------- 7 Sole Voting Power Number of 0 Shares --------------------------------------------------- Beneficially 8 Shared Voting Power Owned By 1,000,000 Each --------------------------------------------------- Reporting 9 Sole Dispositive Power Person 0 With --------------------------------------------------- 10 Shared Dispositive Power 1,000,000 -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,000,000 -------------------------------------------------------------------------------- 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11): 2.2% -------------------------------------------------------------------------------- 14 Type of Reporting Person (See Instructions): OO; IA -------------------------------------------------------------------------------- CUSIP No. 054923107 SCHEDULE 13D Page 12 of 21 This Amendment No. 2 to Schedule 13D relates to the Common Shares, no par value (the "Common Shares"), of Axcan Pharma Inc., a Canadian corporation (the "Issuer"). This Amendment No. 2 supplementally amends the initial statement on Schedule 13D, dated July 17, 2000 (the "Initial Statement"), as amended by Amendment No. 1, dated January 8, 2003 (as amended, the "Schedule 13D") filed on behalf of each of the following persons (collectively, the "Reporting Persons"): (i) Perseus-Soros BioPharmaceutical Fund, L.P., a Delaware limited partnership (the "Purchaser"); (ii) Perseus-Soros Partners, LLC, a Delaware limited liability company ("PSP GP"); (iii) Perseus BioTech Fund Partners, LLC, a Delaware limited liability company ("PBFP Partners"); (iv) SFM Participation, L.P., a Delaware limited partnership ("SFM Participation"); (v) SFM AH LLC, a Delaware limited liability company ("SFM AH LLC"); (vi) Perseus EC, L.L.C., a Delaware limited liability company ("Perseus EC"); (vii) Perseuspur, LLC, a Delaware limited liability company ("Perseuspur"); (viii) Mr. Frank H. Pearl ("Mr. Pearl"); (ix) Mr. George Soros ("Mr. Soros"); and (x) Soros Fund Management LLC, a Delaware limited liability company ("SFM LLC"). Capitalized terms used but not defined herein have the meanings ascribed to them in the Initial Statement. The Schedule 13D is amended as follows: As of September 5, 2003, the Reporting Persons ceased to be the beneficial owners of more than 5% of the Issuer's outstanding Common Shares. Accordingly, this is the Reporting Persons' final amendment to the Schedule 13D and is an exit filing. Item 3. Source and Amount of Funds or Other Consideration Item 3 is supplementally amended as follows: As of September 5, 2003, the Reporting Persons ceased to be the beneficial owners of more than 5% of the Issuer's outstanding Common Shares. Accordingly, this is the Reporting Persons' final amendment to the Schedule 13D and is an exit filing. See Item 5 for further information. Item 4. Purpose of Transaction Item 4 is supplementally amended as follows: As of September 5, 2003, the Reporting Persons ceased to be the beneficial owners of more than 5% of the Issuer's outstanding Common Shares. Accordingly, this is the Reporting Persons' final amendment to the Schedule 13D and is an exit filing. See Item 5 for further information. Item 5. Interest in Securities of the Issuer Items 5(a)-(c) are amended and restated in their entirety as follows: (a) Each of the Reporting Persons may be deemed the beneficial owner of the 1,000,000 Common Shares held for the account of the Purchaser (approximately 2.2% of the total number of Common Shares outstanding). As of September 5, 2003, the Reporting Persons ceased to be the beneficial owners of more than 5% of the Issuer's outstanding Common Shares. Accordingly, this is the Reporting Persons' final amendment to the Schedule 13D and is an exit filing. (b) (i) Each of the Purchaser and PSP GP may be deemed to have the sole power to direct the voting and disposition of the 1,000,000 Common Shares held for the account of the Purchaser. (ii) Each of PBFP Partners, SFM Participation, SFM AH LLC, Perseus EC, Perseuspur, Mr. Pearl, Mr. Soros and SFM LLC may be deemed to have shared power to direct the voting and disposition of the 1,000,000 Common Shares held for the account of the Purchaser. CUSIP No. 054923107 SCHEDULE 13D Page 13 of 21 (c) During the sixty days prior to the date hereof, the following transactions have been effected on Nasdaq with respect to the Common Shares by any of the Reporting Persons: DATE NO. OF SHARES SOLD PRICE PER SHARE ---- ------------------ --------------- 12/18/03 46,000 $14.82 12/19/03 15,500 $15.00 12/22/03 14,300 $15.09 12/23/03 8,500 $15.00 12/24/03 40,700 $15.05 01/06/04 100,000 $16.56 01/07/04 45,300 $16.70 01/08/04 65,000 $17.06 01/09/04 62,200 $17.33 01/12/04 27,500 $17.24 01/21/04 10,600 $18.03 01/22/04 51,400 $18.24 01/23/04 18,000 $18.36 01/26/04 20,000 $18.18 02/02/04 59,441 $18.90 02/03/04 31,559 $19.06 02/04/04 200 $19.02 02/05/04 20,000 $19.02 02/06/04 138,800 $19.89 02/11/04 18,000 $20.06 02/12/04 12,800 $20.04 02/13/04 19,200 $20.08 Except as set forth in this paragraph (c), to the best of the knowledge of each of the Reporting Persons, none of the persons named in response to paragraph (a) has effected any transactions in the Common Shares during the sixty days prior to the date hereof. Item 7. Material to be Filed as Exhibits The Exhibit Index is incorporated herein by reference. CUSIP No. 054923107 SCHEDULE 13D Page 14 of 21 SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Date: February 17, 2004 PERSEUS-SOROS BIOPHARMACEUTICAL FUND, L.P. By: Perseus-Soros Partners, LLC General Partner By: SFM Participation, L.P. Managing Member By: SFM AH LLC General Partner By: Soros Fund Management LLC Managing Member By: /s/ Jodye M. Anzalotta ------------------------------------ Name: Jodye M. Anzalotta Title: Assistant General Counsel PERSEUS-SOROS PARTNERS, LLC By: SFM Participation, L.P. Managing Member By: SFM AH LLC General Partner By: Soros Fund Management LLC Managing Member By: /s/ Jodye M. Anzalotta ------------------------------------ Name: Jodye M. Anzalotta Title: Assistant General Counsel CUSIP No. 054923107 SCHEDULE 13D Page 15 of 21 PERSEUS BIOTECH FUND PARTNERS, LLC By: Perseuspur EC, L.L.C. Managing Member By: Perseuspur, LLC Member By: /s/ Rodd Macklin ------------------------------- Name: Rodd Macklin Title: Secretary and Treasurer SFM PARTICIPATION, L.P. By: SFM AH LLC General Partner By: Soros Fund Management LLC Managing Member By: /s/ Jodye M. Anzalotta ------------------------------------ Name: Jodye M. Anzalotta Title: Assistant General Counsel SFM AH LLC By: Soros Fund Management LLC Managing Member By: /s/ Jodye M. Anzalotta ------------------------------------ Name: Jodye M. Anzalotta Title: Assistant General Counsel PERSEUS EC, L.L.C. By: Perseuspur, LLC Member By: /s/ Rodd Macklin ------------------------------- Name: Rodd Macklin Title: Secretary and Treasurer PERSEUSPUR, LLC By: /s/ Rodd Macklin ------------------------------- Name: Rodd Macklin Title: Secretary and Treasurer CUSIP No. 054923107 SCHEDULE 13D Page 16 of 21 MR. FRANK H. PEARL By: /s/ Rodd Macklin ------------------------------- Name: Rodd Macklin Title: Attorney-in-Fact (1) MR. GEORGE SOROS By: /s/ Jodye M. Anzalotta ------------------------------------ Name: Jodye M. Anzalotta Title: Attorney-in-Fact (2) SOROS FUND MANAGEMENT LLC By: /s/ Jodye M. Anzalotta ------------------------------------ Name: Jodye M. Anzalotta Title: Assistant General Counsel (1) A Power of Attorney, dated April 9, 2003, appointing Rodd Macklin to act on behalf of Frank Pearl has been filed with the Securities and Exchange Commission. (2) A Power of Attorney, dated October 30, 2002, appoints each of Armanda T. Belly, Jodye Anzalotta, John F. Brown, Maryann Canfield, Richard D. Holahan, Jr. and Robert Soros to act on behalf of George Soros has been filed with the Securities and Exchange Commission. CUSIP No. 054923107 SCHEDULE 13D Page 17 of 21 EXHIBIT INDEX 1. Joint Filing Agreement, dated as of February 17, 2004, by and among Perseus-Soros Biopharmaceutical Fund, LP, Perseus-Soros Partners, LLC, Perseus Biotech Fund Partners, LLC, Perseus EC, L.L.C., Perseuspur, LLC, Mr. Frank H. Pearl, SFM Participation, LP, SFM AH LLC, Mr. George Soros and Soros Fund Management LLC. 2. Power of Attorney, dated as of April 9, 2003, granted by Frank H. Pearl in favor of Rodd Macklin.