Biotech Values

[DewDiligence]

Re: Allergan:

isolution: Allergan’s collaboration with ENMD to develop for Panzem for AMD is all but dead. In more than three hours of discussion at AGN’s R&D Day last week, the Panzem project was mentioned for all of 5 seconds. (That’s not an exaggeration.)

In contrast, the VEGF TKI from Bardeen (now known as AGN-6) is white hot and it received considerable attention during the talk by Larry Wheeler (AGN’s VP of Biologics).

>> Anyway Dew, One again it is local drug delivery story (Alcon, Genentech, Novartis, Eyetech, B&L, Allergan, Genvec, Neurotech, Oxford Biomedica, Oxigene)…<<

As I mentioned previously, Allergan has an oral project in AMD using Tazarotene, a drug already approved in topical form for acne. Pending completion of an IND, oral Tazarotene will enter phase-2 trials in AMD during the second half of 2004. I do not understand why you have chosen to ignore the Tazarotene program in trying to argue that only drugs with localized administration have merit in treating AMD. Regards, Dew