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Biotech / Medical : AutoImmune-AIMM

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To: Thomas Stewart who wrote (99)	4/28/1997 11:20:00 PM
From: Dr. John M. de Castro	of 298

Although you're right regarding the entry of T cells accross the blood brain barrier, it is quite difficult for them to cross, and thus CNS targets are simply harder for the peripheral immune system to affect. I'm not making the case that AIMM should have expected failure. I'm only suggesting that RA is a much more likely target for oral tolerance. In addition there are two significnt Phase IIs already and a promising juvenile RA Phase I. The results are consistent. Hence, I see this as more promising. That said, I still see AIMM as a crapshoot. The failure of the MYLORAL trial suggests that oral tolerance may not be an effective treatment method for autoimmune disease. It makes it much less likely that the RA Phase IIs will work. However, if they don't I see AIMM at $2. On the other hand if they work AIMM goes to the $12 - $20 range. IMO there is much greater upside potential than downside. Of course you might prefer sky diving for your kicks :-) John de C

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