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Biotech / Medical : Paracelsian Inc (PRLN)
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To: John H. Farro who wrote (3077)8/14/1997 11:36:00 AM
From: Hank   of 4342
 
Robin, My guess is that they doing very little research now. Research supplies are very expensive and they would likely be limited to using the supplies they have on hand or doing absolutely critical experiments only(ie- let's say an interested suitor wants some additional experiments done before deciding whether or not an alliance with PRLN is worthwhile). I believe Rhodes is dedicating 100% of his efforts to selling the company based on what they've already done. The only thing he has going for him is a little more time based on a reduced burn rate (if you can believe him) and the fact that bigger drug companies are becoming more aggressive than ever in pursuing alliances with biotechs that can either provide them with new drug leads or technology that will increase the speed of the screening process. My employer, for example, is going to establish as many as 10 new relationships of this type by the end of the year (don't know with whom though). However, you have to count on Rhodes et al. to carry it off and we all know how likely that is. As for the Chinese, I have no idea on how the relationship with them may be affected. From working with many Chinese over the years, my guess would be that it's difficult to obtain their trust. I'm also very bothered by the statements that AndroVir is not safe for the general public. I asked Babish in an e-mail about the specificity of AndroVir for HIV kinase because most tyrosine kinases are notoriously cross reactive with human kinases, hence making them toxic. He said he couldn't comment because of the law suit. This statement leads me to believe that AndroVir is not as squeaky clean as we all thought and will make it a harder sell to any big drug firm. I figure I'll bite the bullet on this one until Sept. or so. If nothing materializes by then, it's bail out time before the stock goes to $0. Now, it's off to Syracuse for my 20th high school reunion. See you next week.

Hank
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