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PL1,
Here is some other information about a new Biotech startup---Allozyne and MS....
Hope you find this informative....
TSURGE
In 2nd round, biotech startup Allozyne nets $30M
By Ángel González
Seattle Times business reporter
Biotech startup Allozyne raised $30 million from investors in its second round of financing, enough for the company to fund its way through an early-stage clinical trial — and look for its own digs.
The firm is the third biotech spawn to emerge from Accelerator Corp., a Seattle incubator specializing in life-sciences ventures. The two other graduates, VLST and Spaltudaq, raised $55 million and $29 million, respectively.
The financing round was led by MPM Capital, a global life-sciences investment-management firm. Existing investors OVP Venture Partners, Amgen Ventures, ARCH Venture Partners and Alexandria Real Estate Equities, which invested about $6.4 million in a previous round, also participated.
Allozyne's financing puts an end to a relatively dry spell in venture-capital investments in local biotech. A study released last week by Ernst&Young/VentureOne said that the sector saw only about $900,000 in venture money during the third quarter, down from $59 million the previous quarter.
Prospects for further investment in the sector look good, as pharmaceutical firms with diminishing product pipelines have been eager to get into partnerships with biotechs or to buy into them at earlier stages than before.
That provides a lucrative incentive to early investors, said Accelerator Chief Executive Carl Weissman. "In general, biotech venture capital is upticking," he said.
Preparing for growth
Allozyne hopes to tap into a $4 billion market for interferon beta to fight multiple sclerosis by creating an improved version of the protein that would be administered less frequently.
Its new treasure chest will take the company through preclinical development and early clinical testing of its multiple-sclerosis therapy candidate, said Chief Executive Meenu Chhabra.
Early-stage trials, also known as Phase I, could conclude by 2010. At that time, the company could be ripe for a profitable partnership with Big Pharma, she said.
Funds will also go toward improving the company's technology and developing a second product candidate, a diabetes therapy.
In the meantime, the company — now at Accelerator's Eastlake headquarters — also will find a home of its own.
"In a few months we'll have our own stand-alone facility," Chhabra said, adding that Allozyine would probably double its 10-person payroll by the end of next year.
Chhabra, a former Geneva-based executive at Novartis Consumer Health, recently joined Allozyne to guide the company through its initial spurt of growth. She served as chief business officer of BioXell, a Milan-based biotech firm.
The company relies on technology developed at the California Institute of Technology, and was first led by Kenneth Grabstein, a former director of immunology at Immunex and a co-founder of Corixa. Grabstein continues as Allozyne's chief scientific officer.
Allozyne was founded by three Cal Tech researchers, David Tirrell, William Goddard and Deepshikha Datta, who are involved in the board and the scientific advisory panel.
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
Copyright © 2007 The Seattle Times Company
PL1,
Have been working alot this week. catching up after late nights on call. Great Board you have. I am finding it a great site to find new information that effects my medical world....by reading your board, I get to follow two passions of mine....stocks and medicine......
Here is some info I found about minocycline and MS....I thought it was very interesting.....
thanks and Great Work!!!
TSURGE
Common antibiotic tested as treatment for multiple sclerosis
Pamela Fayerman, CanWest News Service
Published: 19 hours ago
An old-fashioned, inexpensive antibiotic commonly used to clear up pimply faces and bacterial infections is about to be put to the test against multiple sclerosis.
Researchers hope the $4-million study, involving more than 200 people in 13 Canadian cities, will prove minocycline pills can, indeed, help stop the progression of the disease.
Tony Traboulsee, a neurologist at the University of British Columbia MS clinic, said the trial stems from animal research done by a former UBC scientist, V. Wee Yong, showing minocycline - in the tetracycline family of antibiotics - can inhibit the activities of an enzyme and cells that initiate MS attacks and that it has anti-inflammatory action that may shield myelin, the protective sheaf around the nerve fibres of the brain and spinal cord.
Yong is now at the University of Calgary, the centre leading the two-year minocycline trial that will begin in January. Yong carried out a previous small trial that showed minocycline significantly decreased brain lesions in MS patients.
Yong and fellow researchers carried out another nine-month trial in which minocycline was combined with an injectable drug called Copaxone. That study, whose patients had more advanced cases of MS, suggested that minocycline is most beneficial at the outset of disease symptoms, when it can actually halt progression.
Participants in this next study, sponsored by the MS Society of Canada, must be referred within 90 days of their first MS symptoms. Anyone who waits longer than that will be excluded.
"The benefits of minocycline are straightforward," said Luanne Metz, principal investigator in the trial and director of the Foothills Hospital MS Clinic in Calgary. "It's relatively cheap ($800 a year compared to other drug treatments that can cost up to $40,000 a year), has few side effects and can be taken in pill format. The aim of our research is to see if this common drug can reduce the occurrence of further disease activity in people who have experienced an initial attack of MS symptoms and who are at high risk of progressing to definite MS."
Metz said that two-thirds of people who get an initial attack of MS symptoms will be diagnosed with MS within six months but if minocycline is used at the outset of symptoms, "we believe we can reduce this number."
Traboulsee, who is on the clinical steering committee for the trial, said while long-term antibiotic use may lead to the development of antibiotic resistance, it is not considered a major concern in the MS trial because the drug is not being used to treat infection.
© The Gazette (Montreal) 2007
WAG post: November 3rd, 2007 at 3:56 a.m.
PL1,
thank you for your kind comments....I will certainly try....life's been crazy lately....thanks for all you do on this board.
tsurge
Geoff,
You may very well be right. Though when I provided the information, they verify the information by comparing it to State Licensing boards and other databases/information you provide. "Trust, but verify"....is a good motto.....I actually had my wife (a nurse) attempt to log on with her license information and Sermo would not accept it...
Truthfully, any forum board that is hooked to wall street (outside funding) and now may be linked to a Pharma (in that the Pharma may get to review the posts), I agree with you, in my opinion, that these issues may put the whole process into question or at least spin bias on the process.....
this is why I think many MDs that are on the site may, in my opinion, back away....we will see....
TSURGE
Biowatch,
I usually lurk, when I have time, but I had to comment. I agree totally with you on this one. Sermo (and I am a member) is anonymous as a forum, but you cannot post or become a member without having your medical license and credentials substantiated. Though I too think PFE is kinda crazy about associating itself with Sermo in some way, It would be difficult for PFE to post unless there are MDs that belong to PFE that would have their credentials and medical license substantiated. There are MDs in Pharma companies, mainly Research scientists, and not reps. Most Research scientists do not havethe time to try to "bias" MDs by logging on and writing on forum sites.
I think PFE is pushing the envelope mainly because now that it is known that they are connected to Sermo in some way, many MDs (myself included) will be more wary about posting on the site and may cancel their subscriptions. I have posted many times on Sermo and did not get paid....you can win awards of 50 to 100 dollars if there are threads that are informative and elicit many posts and rated high. Only a few of these are awarded a month.....
I do agree that info gained from this site may influence hedge funds and other companies to recognize early trends from MDs that could influence stock trends.....
I just wanted to add my two cents.....
now I will go back to lurking when I can get the chance....
TSURGE
This would be a great addition to cancer therapy if it pans out!
this is very interesting. I am glad this happened. we were one of the trial sites for the Merck drug ertepenam years ago, and this new drug would make at least 4 in the carbepenam class for treatment of gram neg infections. though as a class, the carbepenams can have similar resistance patterns, ertepenam and now perhaps doripenam may have less resistance compared to imepenam and the other one I am blanking on.....
Bugs are smarter than us, so the more drugs out there, the better chance to reduce resistance....
tsurge
PL1
this curved harmonic scissor/scapel is definitely a plus. we use the regular non-curved now, so this is definitely a PLUS when surgeons need the fine delicate dissection for smaller "tight space" surgery (i.e. parotid, thyroid, etc.)
one of my colleagues actually tested it for ethicon....
thought you would want to know....
tsurge
you are welcome....I will contribute what I can, whenever I can, depending on my schedule....I look forward to it....thanks for starting this board!
PL1,
great information...
impressive....
M,
How are you doing?
I am not as familiar with LinkedIn, but I believe that is a business / social networking site, is it not? Did a similar association with companies and website make it stronger?
the "problem" with Pfizer and Sermo "associating" is the potential introduction of bias that the FDA and Govt is strongly overseeing and regulating.....
Many doctors just would rather not be associated with that potential bias association, so some may walk away from Sermo...we will see....
Tsurge
also, information about Biogen...
Biogen Idec Considers Takeover, Shares Surge
by SA Editor Susan Lerner
Biogen Idec late Friday hung the "for sale" sign, authorizing management to evaluate a possible buyout of the company, including a sale to investor Carl Icahn, one of several parties from whom it said it had received an expression of interest. Despite reiterating that it believed its current strategy was "working and generating strong operating and financial performance," it said it also will determine whether potential interest from major pharmaceutical companies "might result in superior value in the current environment." Shares of the biotech giant surged 18% AH to $81.60 on the news, capping a 3.4% climb in the regular trading session, bringing the company's market cap to about $23.5B. People familiar with the matter say Icahn, who owns about 1% of Biogen, has been negotiating with Biogen for weeks and has offered at least $23B. Icahn told the Wall Street Journal, however, he believed the company would "do better with a synergistic buyer" such as a major drug maker. One analyst said a multiple similar to that received in the MedImmune/AstraZeneca deal earlier this year would mean a takeout price of about $200/sh. for Biogen but didn't believe it would get that much. The Company retained Goldman Sachs and Merrill Lynch as financial advisers to assist in the process.
Sources: Press release, Wall Street Journal, Reuters
Commentary: Is Biogen Idec Icahn's Next Activist Target? • Is Biotech on the Verge of a Breakout?[b/]
Interesting news:
Pfizer Joins Up With Medical Social-Networking Site
by SA Editor Judith Levy
Pfizer has inked an agreement with Sermo Inc., a social-networking website for licensed physicians, that will allow Pfizer-affiliated doctors to talk online with the 31,000 members of the site. Financial terms were not disclosed. Serno, which does not charge a sign-up fee, adds 2,000 doctors a week. The arrangement will give Pfizer information on how doctors prescribe drugs and an opportunity to present data without having to visit doctors in person. Pfizer will have to be careful, because drug companies are monitored to be sure they are not offering financial incentives or pushing their drugs for unapproved uses. Doctors, too, are hesitant to appear unduly close to any individual company. "Often it's looked badly upon by other physicians when you are perceived to have a close relationship with a drug company," says Sermo member Richard Thrasher. Pfizer physicians will be able to ask questions of other doctors on the site and respond to posts. "It takes a lot of courage for Pfizer to do this, because the response isn't going to be universally positive," said Sermo CEO Dr. Daniel Palestrant. Dr Michael Berelowitz, Pfizer's global medical executive, said: "The way the Internet and other web-based media have transformed life is unprecedented. But it offers such advantages that we'd like to be part of that evolution." Pfizer laid off 20% of its U.S. sales force in 2006 and over 20% of its European sales force in January.
I am a member of SERMO and it is a good information website for MDs....it is remarkable that Pfizer is showing interest in this....
tsurge
Sources: Wall Street Journal, Financial Times
PL1,
you are most welcome. That fantastic story shows that it is not necessarily what we do, but who we "meet" in this journey called life, that make the difference...and I believe that is what life is all about....helping those in this journey who need it...
it may be someone that you know, or someone that you have never met....
With that, here is a link about a biotech releasing info on a phase 2 drug....one for Multiple Sclerosis:
http://www.biologicdrugreport.com/News/news-101407.htm
Take Care,
Tsurge
Hey PL1,
Have followed you regularly and look at all of your sites in what spare time I have from my day job, after the family goes to sleep
...this site is spectacular!!! I actually thought about starting a site like this, but am glad someone with more experience (especially moderating) and forethought started it....
I might have missed it, but if not, would love for you to consider adding to the iBox a few other sites:
www.FDA.gov
www.CDC.gov
they have great info and links to direct letters of intent and approvals and more importantly, rejections or recalls....I look at them regularly, especially after the DNDN craziness.....
Let me know what you think....
thanks,
tsurge
What do you all think about the latest drop and rebound with the FDA letter?
This stock will skyrocket if the drug is eventually approved, but will have to look at the FDA.Gov website and check some of the details....
there are alot of people with Migraines!!!
Just wanted to know if anyone had other ideas?
Lifecell has new product just FDA approved. will be on market by late summer and will allow them to expand to foreign market in hernia repair. It goes away from cadaver tissue which is difficult to ship overseas; it is porcine and handles the same. Porcine is able to be shipped overseas.
Others may have a better response, but basically "Don't believe everything the "leaders" or herd tell you"....Do your own DD.....
I believe in reference to cults forcing a whole group to "drink the koolaide" and follow them to disaster (Suicide)!!!
hope this helps...
Lowtrade,
thanks for the info...I am not getting the Daily chart back to July...the spikes were more noticeable with the daily info as opposed to the weekly views I needed to expand the Stockcharts scans.......thanks for the effort to show us the way! I cannot tell you enough how much we appreciate it....Thanks
Lowtrade,
What do you think about GLIF: I have been following this....the CMF is up and volume appears positive though not as much as I would like and DMI/ADX is not yet right for entry....it is on watch list for me....I am still learning and follow your excellent advice of stock patterns.... as always, thanks for posting the charts..they are excellent learning points...
Best to you and all,
tsurge
Thanks...great advice, as always....I have some reading to do....
Lowtrade,
thanks!!! You are awesome with the charting...It is too bad some companies like this are so heavily manipulated! I thought there was some manipulation, but I did not pick up on such heavy manipulation...
I agree with you that news may be coming, though, I may make a small play after a PR....
Thanks, again!
Hey Lowtrade,
Great board...I/we have learned alot! though still alot to learn. My wife and I have been following ADVR-
May I ask you what you think about the potential for this one...they have an interesting wound product in Phase 2 trials....
the RSI is still below 70 and the CMF is up without much change in pps...
thanks,
TSURGE
Yes, My FedEx person just delivered all my "hundreds of millions of shares" certificate!!! yikes...now what to do with them.....let me think.....anyone with any ideas?Etrade sent a statement that they no longer accept them...
when are we allowed to trade them and how is that done (if Etrade does not accept them)???
you are welcome...Jimmym4 told me about your board and now am hooked....will be glad to add any information from my "side of the street" at any time...public or private messages...
thanks for all of your help and information....
TSURGE
Northfield proposed a new trial of 720 ambulance patients - 360 to get up to 6 units of PolyHeme and 360 to get saline in the ambulance and then red blood cells at the hospital. It meant that since they were using ambulance trauma patients, Northfield would not be able to get consent from the patients since most would be unconscious. Incredibly, the FDA agreed to let Northfield carry out this non-consent trial....
mcmike,
appreciate your comments...have been following your informative posts. This type of "consent" is a real consent...its "community consent" and though a consent is not done before the trial drug is started, one is obtained as quickly as possible from family. There is also a process that must be done at every institution's community or city to inform a community that this trial is being done with "community consent" and if there is a community issue, then the institution's own reveiw board will not allow the trial to be done in that community...
I am not involved in the Northfield trial, but we were indirectly associated with the Baxter one a decade ago.... what you say about blood and polyheme is absolutely accurate, IMO...
blood is necessary, but it also is associated with increasing infections after transfusions due to the immunosuppression of blood (many articles show this in research)......Many hospitals have centers now called "Bloodless Medicine and Surgery" to reduce the mortality and morbidity associated with "too much" blood transfusions.....This is why if blood-substitutes like PolyHeme pan out, they will be well received in the medical community(IMO).
thought I would add my 2 cents to this thread.....now back to my other job.....
TSURGE
All of you have done, and continue to do, a marvelous job....otherwise, this board would turn into "Other" MBs that are all just plain hell....keep on keeping on, please!
though I forgot to consider M&Ms...
that is an interesting statistic!
even for flippers, that seems hard to do!
SNOW, thanks for the post...
it just seems that alot of the longs MAY have seen stuff like this before...., though, I realize this is a really bizarre combination of events......if it is a scam, PV is not acting like a scammer, and if it is not, then he is either being manipulated or is just plain DUMB....or DUMBER....
If stock Price is not totally worthless, then what is the belief about tomorrow, will it go down in AM, I believe it will, and stay down (I dont think so tomorrow)....
but I agree, SNOW, many different opinions....therefore, stock price not totally worthless......
but if PV is not truthful, he is hosed!!!
Question to the board...
on Black Thursday, why did the price drop stop at .01 and stabilize at .03? was it due to the questionable Reuters article, or to Stock Hogs Roll Call, or to the belief that the shorts covered at .03???
call me naive (and I realize it may drop tomorrow (or not) but if it is a scam, I would have expected it to drop below .01 on Thursday if not Friday??? is it all emotion driving this, or controlled by other manipulators....that is the question that everyone wants to know...PV is the only one to know....
so, if people think it was a scam, why did it not drop below .01 on thursday?
I still believe in the company of SLJB...regardless of ME...
still hold most of the shares from December...again call me naive...
someone was buying at that level (.01) and up to .03. no? otherwise it would have dropped lower...
still waiting for the AFs......if they exist or not.....if they don't, PV is so going to j(hell)....
it will drop in A.M., it always does with morning selling...but the question, is whether it will stabilize at .02-.03??? only PV knows for sure.....
What do others think????
MODS...perhaps it is time for some new surveys. Not trying to make light of the severe situation, but it seemed that Petar seemed to respond to them...maye his next PR will come when we give him a suggestion...(LOL)
i.e. 1. who thinks AFs exist.
2. what do people think will happen ( stock price tanks, stock price holds steady, stock price goes up?)
3. is this a scam or is petar been duped?
I am sure there are others that may have some idea for surveys.......
sorry, just trying to see if Petar would respond to the surveys...
O.T. its football time...GO PANTHERS!!!
Sorry, I should have put small town in quotations...I did not mean Windsor is small town, just their newspapers "bias" may be(IMO).
Papers have to sell papers to meet their advertisement targets....
You never know about small town papers. what was there to re-verify? they may have told the "facts" but in a way to "slant or spin" in the way they wanted to push the story? just think how much publicity this small town paper has gotten since that first story! that alone will drive editors to do alot of things! this is not the Washington Post we are talking about!
P-mon, good and interesting information...newspapers/media can be pretty cut-throat and biased...
still waiting for AF's.....the newpaper doesn't control that....or does it?
I think many of us bought more shares at that point...that PR made the company more legit to be in the ME!
LOL! wonder what the "price-per-stare" has been for us on the SLJB MB?
Hey allinone, sulja-shananigans aren't worth coronary spasms (though I think all of us had some yesterday)...take care of yourself...and this shows all of us need to just relax...and meditate this stock to go up!
TSURGE present...sold a little yesterday (at a loss) before calming down...bought some more late yesterday... still have all my original shares from last Dec. now just watching.....waiting.....GLTYA