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Biotech / Medical : Texas Biotech (TXB)
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To: Steve Valliere who wrote (356)10/26/1997 7:39:00 AM
From: James Baker   of 834
 
Steve, Here is the TXB portion of Fortune aritcle from their website:

Our last stock may take some patience. Texas Biotechnology is just starting to get attention among professional investors after a recent road show. An NDA has been filed for an anticoagulant to replace the drug heparin, which can create serious complications for a small percentage of patients. SmithKline Beecham signed a $32 million deal to distribute this drug, pending approval.

As in the case of Neurex, however, it's Texas Biotech's second compound that's really exciting. Although still in Phase II trials, this drug for congestive heart failure addresses a billion-dollar market. Lehman's Butler says the stock can easily double. While his firm is one of the company's underwriters, it was Butler himself who helped get Lehman involved after he came across a Ph.D. thesis by a cardiologist at Sweden's Karolinska Institute. The thesis compared Texas Biotech's compound with several others from major drug companies and concluded that it was at least as effective, if not more so. "It was independent information that I just found," says Butler. He figures the compound will attract a major drug company as a partner, and an actual product might be on the market by 2001.
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