Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 51.11

-2.1%

3:59 PM EST

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To: Biomaven who wrote (4446)	8/10/2001 5:40:29 PM
From: rkrw	Read Replies (1) of 52153

I'm not particularly concerned about the Bayer deals. For reference, the MLNM deal was for 225 validated targets, Bayer has the right to look them over and pick 25-30 for internal small molecule development. MLNM has the rights to the roughly 200 Bayer hands back, plus nonsmall molecule rights to all (mab, diagnostics etc) the targets. With $1.5B in cash, reams of JV's and codevelopment deals, I don't think the Bayer deal is a critical component to their valuation any longer. CRGN would feel it more but still no severe blow imo. They've set themselves up pretty well. Proteins develop internally. MaB's with Abgenix. Small molecules with Bayer. If the Bayer deal is halted, crgn will move on.

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