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Biotech / Medical : PPL Therapeutics
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To: Jongmans who started this subject10/17/2001 3:50:03 AM
From: Jongmans  Read Replies (1) of 53
 
PPL Ther/Biological Agents/Anthrax

traders seek war dividend

Neil Hume
Guardian

Wednesday October 17, 2001

City traders are not a sentimental bunch and as such many have been spending the past few days trying to figure out how to make some money from the threat of bioterrorism and in particular anthrax.

First they started buying Acambis, off 1p at 199p, the Cambridge biotech group that has been asked by the US government to produce 40m doses of its vaccine for smallpox by the end of the next year.

Then they tried Biotrace International, up 1p to 81p, which makes equipment to trace nerve gas. Now they have started chasing PPL Therapeutics, the firm best know for cloning Dolly the Sheep.

After an inspection of the prospectus for its critical £32m rights issue, sharp eyed traders discovered that PPL has been working on treatments for anthrax and other biological warfare agents such as Ebola with a shadowy arm of the US department of defence.

Back in March, PPL was awarded a grant worth up to $3.1m by the defence advanced research projects agency to support research involving the potential to produce "large quantities of human polyclonal antibodies" against a range of biological weapons such as anthrax.

That link was enough to get PPL's shares very excited - they climbed 6.5p to 54.5p even though the research is at a very early stage and will take some years to complete.

"We believe it can be done, but this is one of our long-term projects," a spokeswoman for the company said.

guardian.co.uk

martin
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