Biotech Values

[kaivamei]

Is Imasogie there (in part) to revive Locilex?

The following is a very intriguing post by Chumpplayer on the GENR Yahoo board:


Re: Imasogie's options
by: chumpplayer2003
Long-Term Sentiment: Strong Buy 01/10/04 01:50 pm
Msg: 37471 of 37488

Genaera's nearest-to-market (w/n 3 years) product portfolio: (1) squalamine wet AMD, (2) Locilex -resurrected?

Coincidence - Osagie, GSK Ventures, "...responsible for external value maximization of various GSK R&D assets that will not be further progressed."

Genaera's 2002 10K, reported March 2003:

We have terminated our manufacturing agreements required to further develop this product candidate. The GlaxoSmithKline agreement also gives GlaxoSmithKline rights to terminate the arrangement, and, under certain conditions, the right to negotiate for rights to another Genaera product development candidate. GlaxoSmithKline remains our exclusive sales, marketing and distribution partner for the North American territory for LOCILEX ™ Cream.

Locilex was Genaera's first product candidate before they discontinued its pursuit in July 1999. They've always maintained they would want to revisit when resources available.

A deal generating monies could revive this program. They have a new board member who specializes in this.

Here's a link to one site who liked Locilex (older site I know):
http://www.diabetes-mellitus.org/locilex.htm

Interesting stuff to ponder about, knowing Armstrong and Osagie had a previous working relationship.

If this pans out I would have to revise my PPS target price.