Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
According to the USPTO Website, it would appear as if DNAPrint is about to receive notice of allowance for it's second patent, "Methods for the Identification of Genetic Features for Complex Genetics Classifiers". Check out pages 2 & 3 of the Examiner Interview Summary Record dated 3/20/2006:
On page 2:
"It is not necessary for applicant to provide a separate record of the substance of the interview, since the interview directly resulted in the allowance of the application. The Examiner will provide a written summary of the substance of the interview in the Notice of Allowability."
On page 3:
"The applicants were informed that all pending claims were allowable. The applicants stated their intention to file a supplemental amendment adding claims drawn to a method in which N>M, and a computer in which N>M, so that the methods, programs, and computers drawn to the two embodiments, N<M and N>M are present in the claims."
http://portal.uspto.gov/external/portal/!ut/p/_s.7_0_A/7_0_CH/.cmd/ad/.ar/sa.getBib/.c/6_0_69/.ce/7_....
As some would say, "JMHO from the facts!" LOL
Later,
W2P
Tommorrow...LOL
7's...The next one will be an annual (4th quarter ended 12/31/05). That means it isn't due until March 31st.
Later,
W2P
cosmic...Those two additional appear to be other disease indications for treatment with the same ALA drug currently in development. In all three cases, the drug candidate is BF-200 ALA.
As far as Kondyloma (also known as HPV6), look here:
http://www.emedicine.com/EMERG/topic107.htm
Vin III would refer to vulvar intraepithelial neoplasia. Here's a bit of info:
http://obgyn.uihc.uiowa.edu/patinfo/Vulvar/vin.htm
Later,
W2P
A little more on the Biofrontera IPO. Rough translation:
http://translate.google.com/translate?hl=en&sl=de&u=http://www.vwd.de/vwd/news.htm%3Fid%3D24...
FRANKFURT (Dow Jones) -- the Biofrontera AG, Leverkusen, wants to go in the first half-year 2006 into Frankfurt to the stock exchange. The Biotechunternehmen aims at a quotation at the regulated market, said enterprise spokeswoman Anke to mills on Monday. Which banks will be taken part in the stock exchange course and how large the block of shares will be, did not say to mills however.
Already in November 2005 Biofrontera on the German own capital funds forum had explained to want to go to the stock exchange. In August Biofrontera conversion loans of 20 millions EUR at the Frankfurt stock exchange had platziert.
1997 created enterprises has four medicines in praeklinischen and clinical phases and is specialized in dermatologische research. The first means against horn disturbances of the skin, atkinische Keratosen so mentioned, is to come 2008 on the market. After representation of the chairman of the board Hermann Luebbert the means has a turnover potential of more than 180 millions EUR. For a further medicine against Nesselsucht the permission is aimed at 2009 and a Umsatzpotenzial is seen from 200 millions to 400 millions EUR.
With the incomes from the stock exchange course Biofrontera wants its marketing to develop and into further projects in early clinical phases to invest.
Of Gangolf Schrimpf, Dow Jones Newswires,
unternehmen.de@dowjones.com, +49 (0)69 - 29725 108,
DJG/DJN/ssu/rio
02.01.2006, 02.01.
Looks like a couple of cosmetic changes at Biofrontera in January 2006:
http://www.biofrontera.com/IR/news.html
January 2006
The holding company Biofrontera AG today announced that it has renamed its two wholly-owned subsidiaries. The former Biofrontera Pharmaceuticals GmbH has been called Biofrontera Bioscience GmbH and will house all of Biofrontera’s research and development activities.
The former Biofrontera Discovery GmbH will be named Biofrontera Pharma GmbH. All assets of Biofrontera Discovery were sold last year (Biofrontera's press release April 2005) and the company has since been responsible for the marketing and sales of Biofrontera’s products.
The new names reflect the focus of Biofrontera’s subsidiaries and meet the needs of the companies for the future.
Apologies if this has already been posted:
http://64.233.167.104/search?q=cache:_m6CbMyHBmkJ:sciencebusiness.net/latest_news/item1.php+biofront...
Biofrontera plans Frankfurt IPO, cites strengthening market
04 Jan 2006 at 13:04
By Thomas Lau and Mary Lisbeth D’Amico
Biofrontera AG, a German biopharmaceutical company, said it plans an initial public offering and a listing in Frankfurt during the first half of 2006, to take advantage of what it called strengthening market conditions in the New Year.
“Our goal is to have our IPO on the Frankfurt stock exchange,” said Anke zur Mühlen, a spokesman for Biofrontera, which has drugs in clinical trial. “We think now it’s good time to do an IPO as things are looking to recover in the first half. The company intends to build up a really big dermatology portofolio and to establish the distribution and marketing units so we need the money.”
The IPO plan of Biofrontera is the latest of a trickle of improving news from the long-battered European biotech sector, prompting some analysts to forecast better times ahead. At the end of 2005, three French biopharmaceutical companies announced IPOs after a six-year drought of new biotech listings in Paris. And such big pharmaceutical companies as Swiss Novartis have been actively seeking collaborations with smaller companies such as Astex Therapeutics. Astex, a British biotech company, said in December 2005 it has signed a research and development deal worth up to $520 million with Novartis.
“If these large companies are ready to shell money out for these deals, that helps build confidence in the sector overall and help unlisted companies obtain funds,” said William Powlett Smith, head of the UK biotech group at Ernst & Young.
Biofrontera intends to use the funds raised in the IPO to expand and broaden its pipeline of potential pharmaceutical candidates, Mühlen said.
The company, founded in 1997, focuses on dermatology and inflammation. It currently has three substances undergoing clinical tests. It hopes its first product, with potential peak annual sales of 180 million euros, will come to market in Europe in 2008.
“Biofrontera intends to market its own products in Germany and we intend to have partnership in other countries,” said Mühlen.
www.biofrontera.com/IR/ir.html
Gcbr...Very nice Arch...thanks. eom
66fan...The site lists DNAPrint as a "customer", not a Partner. Selected customers are listed on that page.
Jurilab was mentioned in the Khandaker Report as a competitor along with GE Labs and a few others. I suspect that what we got from Jurilab related to their samples of Finnish "founder" populations.
Later,
W2P
Jurilab is an interesting company with some interesting alliances:
http://www.snl.com/irweblinkx/file.aspx?IID=4097115&FID=1875198
http://www.jurilab.com/default.asp?toc=1&inc=intro.inc
And they have some interesting clients:
http://www.jurilab.com/default.asp?toc=57
I would guess that we got some of our "founder population" samples or data from these guys:
http://www.jurilab.com/default.asp?toc=5
Later,
W2P
Speaking of old news, DNAG is supposedly working on a kit form of DNAWitness to be introduced first quarter 2006:
http://www.dnaprint.com/welcome/press/press_recent/2005/february_23/
We know that they previously acquired TraceGenetics as a headquarters for their forensic operations. But, even if police run DNA analysis in their own labs using DNAPrint kits, it will still require an internet based business solution to securely transmit the relevant data to DNAPrint servers where it can be converted to a result. From the PR:
"...Proprietary on-line software systems provided by DNAPrint(™) are expected to enable investigators to interpret their results and relate them to the likely anthropometric (physical) features of a would-be suspect by referencing DNA samples to DNAPrint's proprietary ancestry databases..."
I wonder how they are going to do that? Perhaps Rebecca Young?
Rebecca Young
Director of Business Development
Ms. Young began her career in the banking industry. She started one of the industy’s first affinity bankcard division launching VISA and MasterCard co-branded programs with Amoco Oil, John Hancock Insurance and AT&T resulting in a half of a million accounts in 24 months.
In 1992, Ms Young took her marketing/ sales skills to technology clients. As VP of Call Center Management for Zacson Corporation, she established outsourced operations centers for IBM, ROLM, Pacific Bell, and Sun Microsystems. In 1994, Ms. Young became VP of Marketing for Premenos Corporation, an eCommerce company and market leader in transaction management software for the mid-range market supporting several industries but with a special focus in Retail. In addition to multiple marketing communications responsibilities, she formalized Premenos’ product marketing function and supervised the launch of the first Internet security middleware software. She supported the IPO roadshow which resulted in raising $70+ M. After Harbinger corporation purchased Premenos, she was promoted to VP of Industry Solutions / Vertical Markets for Harbinger Corporation, an eCommerce company serving 44,000 customers worldwide. Her team launched two successful Internet portals for the automotive and grocery industries.
After years of supporting Global 1000 companies and their need to do transactions with their supply chains more efficiently, Ms.Young left Harbinger and, with her partner Arun Shrestha, built iApex, a global ASP gateway for business transaction management. Rebecca was the Chief Operations Officer. In 2001, the technology was sold to another company and Rebecca began providing marketing strategy and business development plans to NTS.
And where is Rebecca Young located?
Just a thought...
BTW, do you suppose that an obviously "sharp", accomplished woman such as this would throw in with a loser at this point in her career? I can't imagine she would...
Later,
W2P
Arch...Doubtful, but we don't have to work directly with Amgen to develop the classifier. We're working with samples, or will be, with Beth Isreal/Harvard. EPO is EPO, at least the older version is and there are plenty of patient samples available to develop a classifer.
But speaking of the recent problems J&J and AMGEN are having and the need to add a warning label to their EPO products, it makes this old post somewhat prophetic wouldn't you say?
http://investorshub.com/boards/read_msg.asp?message_id=6002794
Perhaps the FDA has been reading the iHub Board! LOL
Later,
W2P
GOINGUP11...Here's the link to the entire profile:
http://www.dnaprint.pharmcogen.e-symposium.com/
Later,
W2P
GOINGUP11...Like this from the E-Symposium company profile:
FDA rules regarding pharmacogenomics testing are still evolving and everyone in the industry is seeking additional guidance from the FDA on this issue. Until OVANOME™ is FDA approved or deemed to not require FDA approval, we plan on generating revenues by developing and testing OVANOME and similar tests for other drugs through physician guided Investigative New Drug studies. Recently, we announced that we have begun a formal evaluation of patient’s and patient samples in conjunction with the Moffitt Cancer Center and associated Groups of specialists.
Later,
W2P
gunnabe...Thanks, here's the link:
http://www.pharmcogen.e-symposium.com/tek-centre.php
Click on the company name to take you to their profile.
Later,
W2P
Easyman51...Gabriel and Gomez have alluded to such clinical use in more than one of their recent communiques, which has gone right over the head of our resident, self-acclaimed, "expert" on FDA regulation.
Of course, I've held the opinion all along that DNAP's Management Team with their PhD's, MBA's, and multiple years of Pharmaceutical Industry experience probably know more about the process than hopeless...LOL
Later,
W2P
GOINGUP11...Agreed...I see only a few possibilities:
1) Cash to be used to fund ongoing operations...not likely, though because they already have debentures in place for those funds.
2) Cash to in-license one or more additional drugs...possible. Perhaps the Cancer drug referred to in the analyst report whose licensing was contingent on additional financing.
3) Cash to complete an acquisition...possible. Gabriel mentioned potential acquisitions in the forensics and consumer products areas.
4) Cash for who knows what...lol
Whatever it is, IMO, we'll see a PR first thing Monday morning letting us know.
Later,
W2P
News Out:
http://biz.yahoo.com/e/051125/dnag.ob8-k.html
Later,
W2P
Here is his full CV:
http://www.ocrn.on.ca/pdf/StillerCV.pdf
Later,
W2P
Anybody check out the Board of Directors at Ellipsis? This guy is an interesting Director:
http://www.oit.on.ca/Pages/Stiller.html
Later,
W2P
frog...Artfully crafted you silver tongued devil, you...lol
Later,
W2P
gunnabe...No, Gomez is supposed to be presenting at the next NYSSA Medical Service Industry Analysts Conference in December. Gabriel made a presentation to that group back in September:
http://www.dnaprint.com/welcome/press/press_recent/2005/0920/DNAG-NYSSA.pdf
The latest PR is in reference to a different organization altogether, the Wall Street Analyst Forum Institutional Investor Conference:
http://www.dnaprint.com/welcome/press/press_recent/2005/1118/DNAG-FORUM.pdf
It's nice to see her getting right out there front and center though.
Later,
W2P
Interesting...
Our People at Kenna
Barbara Handelin, Ph.D., President, CEO & Co-Founder, is an internationally recognized business executive and scientist with 13 years of executive management experience in R&D and product commercialization in the biotech, bio-pharmaceutical, and genomics industries. Dr. Handelin’s previous business experience includes company start-up and financing (Genovo, a gene therapy company), executive consulting, and building a worldwide business division (DNA Diagnostics Lab at Integrated Genetics, now Genzyme Genetics).
L. Tandy Herren, Ph.D., Chief Technology Officer & Co-Founder, is an expert in interface technologies and artificial intelligence with over ten years of applied biological modeling experience in the research (Southwest Research Institute) and the biotechnology (Interleukin Genetics) industries. Dr. Herren is co-author of the issued U.S. patent that supports Kenna’s interface technology.
Wonder if we're going to be receiving input from their current advisors:
Key Advisors and Directors
David E. Housman, Ph.D. - Co-Founder & Advisor. Dr. Housman is the Ludwig Professor of Biology at the Massachusetts Institute of Technology and a National Academy of Sciences and the Institute of Medicine fellow. He serves on Medical and Scientific Advisory boards of five foundations, including the Merck Genome Institute, the Cure Huntington's Disease Institute and the National Neurofibromatosis Foundation. Dr. Housman was the scientific co-founder of one of the earliest biotechnology companies, Integrated Genetics, (1981) followed by Variagenics, a privately held pharmacogenomics company.
Richard Sherman, Esq.: Mr. Sherman is a Managing Officer of QED Technologies, Inc., a strategic consulting firm for life science-based companies, a Principal of CIP Capital Management, Inc., and as Counsel to the law firm of Goodsill, Anderson, Quinn & Stifel, in Honolulu, Hawaii. Prior to forming QED, Mr. Sherman was Deputy General Counsel at SmithKline Beecham Corporation (now GlaxoSmithKline). Mr. Sherman has served as Director of IBAH, Inc., Sparta Pharmaceuticals, Inc., and Cytomed, Inc. Currently, he is a Board member of Pennsylvania Biotechnology Association, member of the Board of Trustees of the Crossroads School, and Director of Biophage, Inc., of Montreal, Canada, Aquasearch, Inc. of Kona, Hawaii, and Hawaii Biotechnology Group, Inc. of Honolulu, Hawaii.
Romeo Bachand, M.D., Ph.D.- Director: Dr. Bachand is currently Senior Vice President and Chief Scientific Officer at Auxilium, A2, Inc., Prior to joining Auxilium, Dr. Bachand was at Abbott International over a 14 year period including most recent post as Vice President, Global Clinical Development, Vice President, Scientific & Medical Affairs and Quality Assurance and Venture Head for the Macrolides division. Dr. Bachand serves on the Scientific Advisory Committee of Genomics Collaborative, Inc. (Cambridge, Mass), the New York Medical College Graduate School of Health Sciences & Sir Patrick Dun’s Institute (Dublin, Ireland) Advisory Board (New York, NY) and the Pharmaceutical Foundation Advisory Council at University of Texas, Austin as well as on the Board of Trustees of the American Heart Association.
James McCormick, M.D.- Director: Dr. McCormick is Director of Laboratory Medicine, Swedish Covenant Hospital and Chairman of the Board, LifeCenter on the Green, Inc. (affiliate Swedish Covenant). Dr. McCormick holds 42 patents for laboratory medicine products, which he has licensed and directly helped to commercialize over the last 45 years. Dr. McCormick’s deep experience in the executive management of high quality health care is reflected by his status in several prestigious national organizations. He recently finished serving on the board of the National Museum of Health and Medicine, is a Distinguished Fellow of the American College of Physician Executives and a Fellow of the American College of Healthcare Executives.
Acquired more patents and PhD's...now management needs to fund the pharmaceutical division in a way that supports, rather than sacrifices the share price.
Later,
W2P
Grateful...Excellent...this was one of the "Final Rejections" that was subsequently amended and appears as though at least some of the claims have been allowed:
http://portal.uspto.gov/external/portal/!ut/p/_s.7_0_A/7_0_CH/.cmd/ad/.ar/sa.getBib/.c/6_0_69/.ce/7_...
Thanks,
W2P
What can I say, other than "...Now is the winter of my discontent..." lol
FYI...Here is the seven page articles of incorporation for DNAPrint Pharmaceuticals, Inc. Got this off of Sunbiz.org:
http://www.sunbiz.org/COR/2005/1010/H0237481.Tif
Basic info:
Date Filed: 10/6/2005
Florida Corporation
50,000,000 Common Shares Authorized at $0.001 par value
10,000,000 Preferred Shares Authorized at $.001 par value
Three Directors: Gabriel, Frudakis, Gomez
Registered Agent: Thomas McNamara, Tampa, FL
Later,
W2P
frog...I know you're not referring to me when you say "touting" it.
I was checking SEC filings looking for an 8K after the Pharma Division PR. Frankly, I would have expected to see a filing by now with additional explanation. Was going to look at the Pharma PR again and saw that posted under press releases so I posted it.
I tend to agree with your assessment. Looks weak. If Wall Street Group has any real pull they call and schedule meetings. They don't send out a broadcast fax or email invite.
Besides, isn't your CFO ordinarily charged with lining up financing?
Later,
W2P
News: From DNAPrint Website
http://www.dnaprint.com/welcome/press/press_recent/2005/1017/MTG-NOTICE.pdf
Later,
W2P
frog...Thanks. eom
BTW, the other patent application that was "Final Rejected" was amended by the company and the response was recently forwarded to the Examiner for consideration:
http://portal.uspto.gov/external/portal/!ut/p/_s.7_0_A/7_0_CH/.cmd/ad/.ar/sa.getBib/.c/6_0_69/.ce/7_....
Later,
W2P
frog...Patent opinion please...
What is the meaning of "Mail Advisory Action" in Patent Office "speak". This relates to one of DNAPrint's "Final Rejections". The company filed an "Amendment After Final Rejection", and the current status was updated today as "Mail Advisory Action":
http://portal.uspto.gov/external/portal/!ut/p/_s.7_0_A/7_0_CH/.cmd/ad/.ar/sa.getBib/.c/6_0_69/.ce/7_....
I would appreciate your comments.
Thanks,
W2P
MattG...I understand the frustration with the share price, but the drop is hardly commensurate with the level of dilution. I don't have the exact figures on the level of dilution since the R/S, but the stock price itself has dropped 80% and I know that the level of dilution is multiples less than that.
So what's wrong? IMO, it's a matter of investor confidence being at an all time low. The company needs to sell shares to gain capital, but there are few willing to purchase given the history of the share price. Pretty simple really, but it has lead to a decline in share price that far outstrips the actual level of dilution that has occurred.
And I have my own reservations about DNAPrint management, but the Biofrontera deal is not one of them. In fact, I doubt many of the posters either here or on RB understand what DNAPrint pulled off in that deal.
DNAPrint has funded itself from the beginning by selling shares of the company on the open market. The company has had no appreciable assets against which to garner either conventional loan financing or to float a bond. In the absence of revenues (typical for startup companies) and physical assets, they have had little choice but to fund the company the way they have.
So now consider what management just did. They purchased 18% of Biofrontera for $1.84 million. They now hold a total of 455,324 common shares of Biofrontera. Biofrontera, in turn, just floated high yield convertible bonds valued at approximately $25,000,000 (20,000,000 euro) in exchange for 8% interest on the bonds and a fixed conversion priviledge that will equate to 33% of the company shares if exercised.
For those that don't know, those convertible bonds are not the same as the convertible debenture financing DNAPrint is using. Those Biofrontera bonds are basically a loan with a five year duration that can be converted to a fixed number of company shares if such a transaction makes economic sense for the bondholder. In order for it to make economic sense to convert, the post IPO Biofrontera shares will have to be trading above $20/share.
If Biofrontera doesn't IPO, the only option the lenders have is Biofrontera's commitment to pay back the bonds at the end of the five years. That's a pretty big risk that was just taken by bondholders, and the institutional investors that bought those bonds don't generally risk that kind of money unless they're fairly certain they'll see it returned.
But what does it mean for us? It means we bought 18% of Biofrontera for $1.84 million and the Institutional Investors bought 33% for $25 million. Our shares cost us about $4.00 each. Their shares cost them about $20.00 each. But regardless of what either of us paid, our shares are equal shares, so if/when Biofrontera IPO's (and if you saw mingwan0's post on NapHeadsII you know that is their intention), our shares will represent an approximate $9,000,000 asset on our books.
If DNAPrint had a book value in the range of $9,000,000 to $10,000,000, the current share price would look even MORE rediculous than it already does. For example, Orchid trades at about 4 times P/B, Gennaisance trades in the same range, Sequenom trades around 1.25. With $9,000,000 in assets, a P/B of 1.0 would have us trading around $.11/share, which isn't much but is worlds better than where we are now.
Secondly, as DNAPrint gains assets their credit quality will improve which will help open up other avenues for financing.
Trust me, I look forward to the end of dilution as much as you do. But IMO, the recent share price decline is out of line with the level of dilution we've experienced, and as people come to realize that management is adding real value to the company, it'll begin to look more attactive to potential investors.
Of course, this is JMHO. Please do your own due diligence and make your own investment decisions.
Everyone have a great Labor Day holiday and may blessings go out to those that may be struggling to cope with the aftermath of the hurricane.
Later,
W2P
Grateful...Thanks! eom
W2P
Gcbr...I've learned not to take ANYTHING for granted from this company. I do my poking around on the internet and occasionally run across something I haven't seen before.
But until I hear it from them, or see it in their filings, the increased revenues we're hearing about is nothing but speculation. JMHO
Later,
W2P
Doh...Here's an interesting page from their "current" website:
http://www.dnacenter.com/resources/forensics.html
Looks as if they get around a bit as well:
http://www.dnacenter.com/locations.html
Looks like an interesting company to be involved with, IF we ARE involved, WERE involved, or are GOING to be involved...lol
Curious that their name and their test is mentioned, but I don't see anything in the services or fees that would indicate they are running the test.
Who knows at this point...DNAP is a strange little company.
Later,
W2P
Looks like they JUST recently received their ASCLD Accreditation:
http://www.dnacenter.com/media/ddc-news-ascld.html
Later,
W2P
Actually, I wonder IF they're offering DNAWitness testing yet...LOL
Seems as if the only way to access that page is via Google. Can't tell whether it's an old page or a new page.
Later,
W2P
This company looks fairly accomplished. Wonder when they started marketing DNAWitness:
http://www.dnacenter.com/forensics-faq2.html
Here's a couple of excerpts from their website:
Expert Testing. Legendary Service.
DNA Diagnostics Center (DDC) is the world's largest and most experienced private DNA paternity testing laboratory. DDC performs 3 out of 4 private paternity tests in the U.S. and is the testing provider for over 600 affiliated partners in 168 countries. Clients recognize DDC for what we value most:
• Trust. More doctors and lawyers recommend DDC over all other labs combined.
• Reliability. DDC's unique Dual Process™, coupled with the most extensive testing capabilities in the industry, ensures correct results.
• Quality. DDC is the only lab to achieve 7 perfect ratings in quality inspections by accreditation bodies.
This one is interesting:
A team of forensics experts
With a rich experience in DNA testing, DDC forensic scientists are highly qualified experts in their field. The forensics team is led by Dr. Julie Heinig, who worked with the Cuyahoga County Coroner’s office on the Sam Sheppard (The Fugitive) case. DDC’s laboratory director, Dr. Michael Baird, is the first DNA expert to testify in a court case that used DNA as evidence (the Castro case) and has appeared on NBC as a TV consultant on the OJ Simpson case. The rest of the forensics team has undergone rigorous training in specimen handling, chain of custody, and DNA analysis.
Later,
W2P
This is interesting. Dr. Sturm's and Dr. Frudakis' article on eye colour. The complete article from Trends in Genetics in August 2004:
http://www.biosci.ohio-state.edu/~pfuerst/courses/eeobmg640/reading1eyecolor.pdf
Later,
W2P
Seems like there are new sites popping up offering AncestryByDNA all the time now. These guys are in Sante Fe, NM:
http://dnaconsultants.com/Detailed/12.html
These guys are in the UK, and are also associated with Sorenson Genetics:
http://www.dna-bioscience.co.uk/service_ethnicity.shtml
Later,
W2P