Biotech Values

[DewDiligence]

Re: REGN’s VEGF-Trap:

>> [VEGF-trap] might show slightly better results than Lucentis and Macugen if delivered locally, will probably discover some-side effects during their phase I/II due to systemic administration and will have to switch to a local way of administration and be compared to the final results of Lucentis and Macugen, because they are quite late…<<

isolution: You have been right on target with every forecast you have made in this arena, so I no reason to doubt your assessment of the prospects for VEGF-Trap. All I can say is that, if you are correct, it would seem that Aventis grossly overpaid for the rights to this product. I wonder what they could be seeing in VEGF-Trap that we are not seeing…