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Biotech / Medical : Biotech News

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To: scaram(o)uche who wrote (584)	2/17/2001 1:02:51 AM
From: margie	of 7143

It may have been Lee Rosen. It was said around the time that the NY Times article by Gina Kolata (sp?) "hyped Entremed and misquoted James Watson; incorrectly claiming that Watson said Entremed's angiogenesis drug would be the cure for cancer. And enmd went from 12 the previous night to 85 or something the next morning, and then 'deflated.' Was Rosen ever involved with Sugen or another biotech that was acquired a few years ago? The comments were made by either the CEO of the company or the Director of Research. They were working on an anti-angigenesis drug. Rosen was quoted in either Time or Newsweek or he may have just said it in a TV interview. He wasn't knocking cancer research or biotech companies as he was very involved in promising cancer research at the time. I don't think his comments were meant as a warning to others; they seemed to describe his personal beliefs and style of investing. He himself found biotech stocks too volatile and risky to invest in. He would probably say the same about the entire market now.

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