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Gold/Mining/Energy : Inflazyme Pharmaceuticals (T.IZP)
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To: David Wolfson who wrote (64)10/10/1996 4:24:00 PM
From: Josh C. Pleasure, M.D.   of 1501
 
I spoke with Mr. King of Inflazyme today. Basically, there are 3 announcements we can expect this month and one for November:

1. Finalization of agreement with Supergen for cancer drug.
2. New partner (a large foreign company) to distribute the TB antigen test
3. Investment in Inflazyme by a biotechnology fund.
4. (November) Submission to FDA of NDA for Apanol (Phase I trials to begin in January).

Mr. King stated that they have received offers from major drug companies to buy a piece of Apanol. He stated that they plan to wait until successful completion of Phase I trials - unless the right offer comes along.

Mr. King explained that Abbott labs had a question about the patent position of the TB antigen test and that this was part of the reason that Abbott did not take the option to distribute it. This question has been resolved. Apparently, Medimmune and Albert Einstein College of Medicine in New York are now to be entitled to a total of 3% of sales of the the TB test and this will resolve the patent issue. The new partner will likely be announced before the end of October.

There will be a substantial investment by a biotechnology fund in Inflazyme. This will include issuance of new stock. Dr. Salari (owns 21%) will not be selling any of his stock in this transaction.

Mr. King stated outright that there will be several bullish announcements in the near future and that nothing negative has transpired.
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