Millennium Pharmaceuticals, Inc. (MLNM) Message Board

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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)

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To: biowa who wrote (3)	6/10/1997 4:59:00 PM
From: Pseudo Biologist	of 3044

More junk ... As a (tiny) shareholder I received a q-1 report yesterday. It summarizes progress for the first 3 months of 97. Here is a summary of the summary: Cash as of 3/31 => $68 mill; ignoring the ChemGenics-related write-offs their net burn was a bit over $3.5 mill. ChemGenics merger: step into microbial and fungal genomics; also gain access to high-throughput drug screening capabilities. Licensing of SequenceExplorer(TM) bioinformatics technology by AHP's Wyeth-Ayerst Papers in "Cell" (with Roche on obesity), and in "Diabetes" on protein that regulates whether excess calories will be stored as fat or burned off as heat. This is the UCPH gene product on which they also received a notice of allowance from PTO. Two more patents issued via ChemGenics -- dealing with pathogenesis. Another issued patent was announced after this update; it describes a component that seems to keep melanoma in check. (maybe they can sign a deal with Coppertone on this one -- just kidding) Max

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