Brad,
Without further comment on CE9.1 (it should be IDPH shareholders concern, not my), I do have few worlds regards Idec-Isis correlation. Actually both company are very close-by , San Diego.
First, let me stated that I do know about Idec more than you think, and fare more than you know about Isis and antisense. Second, I will very appreciate anybody negative/speculative/opponent view on Isis, far more than I appreciate positive view. But, this is not common on SI threads.
Clinical expertise/support?
IDEC clinical history (before GNE and SK) speak for itself . Today GNE/Idec and SK are in control of the clinical development for Idec products.
Isis control its clinical for CMV, cancer (not Novartis), and HIV, while for 2302 (RA, Chohn's, psoriasis, ulcerative colitis and kidney transplant rejection) are jointly controlled by Isis and BI.
Partnership?
Idec has GNE and SmithKline (company from Japan I do not take seriously).
GNE: total 57 M, will have manufacturing and marketing right, pay ~20 % royalty, share expense and early manufacturing.
SK : total 65 M, has manufacturing and marketing right, pay ~20% royalty, cover late-clinical expense
Isis has Novartis and BI.
Novartis: total 100M, has marketing right, pay for drugs and 20% royalty, cover all expense
BI: total 100M + 40M (line of credit), has marketing right, 50:50 profit split, share clinical expense, but with line of credit and covering R&D expense, up to 2000 almost all expense are covered by BI.
Technology?
Idec has expertise is monoclonal antibody. This technology was criticized during 89-94, but in last two-three years it emerge as very promising. Idec is not alone and compete with many biotech and big pharma.
Isis has expertise in antisense-genetic level drug designee. This technology is today still under fire ( for someone who do not understand and are skeptical) as one which will have limited application. Isis do not have competition from big pharma (Novartis as only company which has antisense program from early 80's accept small Isis as leader) and biotech (Gild, Hybn,... are lagging-on).
Products for RA?
Idec will complete trials at the 98-end with marketing in 99/00.
Isis will complete trials at the 99-end with marketing in 00/01.
One year difference is not "approaching the finish line" to "very early stage"!
Today, Idec is lower risk than Isis. What are the potentials, future will tell.
If I will follow world in my investment, I will chose MRK, Roche, Pfizer, Novartis...
If am I to "speculate" and risk, I chose biotech.
I do very sympathies with Idec shareholders, as Idec and several in my holding got badly depressed. In an any way I am not opposing investment in Idec. Only I think there are better than Idec, as many think there are better than Isis. We chose what we like. We defend what we like.
Good luck.
mz |
