Innovation Pharmaceuticals Inc (IPIX)

[biodoc]

DJ, I spoke with Sol Barer many times back in 1993/94. There was very little interest in the company and it was easy to reach him. Yes, Leo reminds me of Sol in many ways though I have only spoken with Leo once.

IMO, Cellceutix is moving faster and with a stronger pipeline than Celgene in late 1993-1995.

FWIW, your history of Celgene is a bit off. Celgene licensed thalidomide technology (including certain analogues) from Rockefeller in 1992. You may recall that the early work with thalidomide was focused on treating AIDS related cachexia. I think Celgene also had Orphan Drug designation for using thalidomide to treat leprosy. Thalidomide was first used for treatment of multiple myeloma in 1997/98. Revlimid was developed by Celgene and not Entremed, as far as I know. Entremed had other relevant IP relating to thalidomide and this IP was licensed in 1998.

Sol Barer had a very broad vision about the scope of TNF-alpha inhibition and he was very clear that thalidomide was the tip of the iceberg. I was impatient with the pace of trials and moved to what I thought were greener pastures. Wish I could have that one back... Fortunately, a couple of my friends stuck with it (mostly through inattention) and made millions.

I believe Leo and Dr. Menon are men of great vision and Cellceutix's ascent will be faster than Celgene's. My Cellceutix shares are tightly held.