Replies to post #153858 on Biotech Values

[DewDiligence]

Correction to #msg-82321447: The private investors who took DCGN out of bankruptcy and sold it to AMGN made about a 6-fold return on their investment in three years (not 30-fold, as I previously stated). Although the private investors paid only $14M to acquire DCGN out of bankruptcy, they spent about $50M on development costs during the period they owned the company.

[DewDiligence]

This opinion piece endorses AMGN’s unexpected buyout of DeCode Genetics:

http://www.xconomy.com/boston/2012/12/10/the-road-to-predictable-innovation-genomics-in-drug-rd/

I find it a little hard to believe that there is $400M+ of commercial value in a firm that went bankrupt a few years ago, but I could well be wrong.