Biotech Values

[bladerunner1717]

Dew,

Did you see this? Got it off the GENR board. (I don't have a date on this.) Does this say anything to you about what PFE thinks of EYET?


>>Pfizer Inc. is close to an agreement to buy Angiosyn Inc., a La Jolla, Calif., biotech start-up working on a drug to ward off blindness, in a deal potentially valued at $527 million, according to people familiar with the situation.<<

>>The move would be Pfizer's second biotechnology acquisition in about a year and would increase the giant New York pharmaceutical company's lead in drugs for eye diseases.

With pipelines dry and megamergers difficult to pull off, some of the biggest drug makers are looking at entrepreneurial biotech concerns like Angiosyn to add new products and cutting-edge scientific know-how.

At the same time, venture capitalists who back such companies and entrepreneurs who run them have become more amenable to early buyouts as an alternative to the uncertain and often expensive path to an initial public offering of stock.

The deal for Angiosyn is particularly chancy for Pfizer, which has never been a big player in biotech, because the tiny company's drug hasn't even been tested in humans. Its experimental drug to treat macular degeneration, the leading cause of blindness in people older than 50, has been tested only in mice. But Pfizer's hunger for new drugs to replace aging blockbusters is driving a new approach.<<


Bladerunner