Replies to post #59525 on $heff's $tation of $tocks & $olid DD

[beach_trades]

CYTK Cytokinetics Announces Its Participation in the Launch of MyoKardia Through a Research Collaboration Directed to Hypertrophic Cardiomyopathies

http://finance.yahoo.com/news/cytokinetics-announces-participation-launch-myokardia-113501536.html

[beach_trades]

CYTK: Third Rock biotech startups find work-share partner in Cytokinetics

San Francisco Business Times by Ron Leuty, Reporter
Date: Wednesday, September 26, 2012, 12:09pm PDT

Cytokinetics President and CEO Robert Blum: Collaborations with Third Rock startups keeps scientists working.

There's a line of thought in the cash-sucking biotech world that once a small company gets a drug into the clinic -- especially if investors want to accelerate their return -- that it winds down research operations.

Robert Blum doesn't buy it.

Instead, the president and CEO of Cytokinetics Inc. (NASDAQ: CYTK) has discovered a way to help pay for his research staff while awaiting the results of a handful of clinical trials: Rent out their expertise.

Cytokinetics, the longtime South San Francisco biotech, is doing just that with two Third Rock Ventures-funded startups, recently launched MyoKardia Inc. and Global Blood Therapeutics, which the VC firm formed earlier this year.

MyoKardia was formed independently, but Blum contends that the company's early work is essentially a spinout of some Cytokinetics heart muscle work that it couldn't afford to take forward.

"In all practical purposes, it's an offshoot or spinout of a program we thought promising, but we couldn't put the resources behind it," Blum said.

Either way, the one-year agreement with MyoKardia means multiple Cytokinetics scientists will work for MyoKardia on specific projects. The collaboration, Third Rock acknowledges, will significantly accelerate the startup's drug discovery program aimed at the genetic cause of heart-thickening hypertrophic cardiomyopathy.

Cytokinetics won't reveal the financial terms of the deal, but both it and Third Rock say the collaboration has resulted in Cytokinetics getting a small equity position in MyoKardia. Cytokinetics also will receive milestone payments and royalties on products that use the know-how that Cytokinetics licensed to MyoKardia, Blum said.

Third Rock was a logical party with which to work, Blum said. Charles Homcy, a partner in Third Rock's San Francisco office, worked with Blum at COR Therapeutics and serves on a Cytokinetics scientific advisory board

http://www.bizjournals.com/sanfrancisco/blog/biotech/2012/09/cytokinetics-third-rock-myokardia.html?ana=yfcpc

[$heff]

CYTK..$.85 Holding steady here in the mid-80's. Been in since $.70. Showing patience with it as its up 20% since first entry. Looking for another $.90 break in the near-term.