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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio
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To: tuck who wrote (690)6/18/2002 10:49:51 AM
From: tuck  Read Replies (1) of 1005
 
Pachydermal vortex around CIPH this morning, some 500k shares and counting. To make serious money from its multiple biomarker work, it must get better specificity than we have so far seen. But that is within the realm of possibility. The company has licenses to biomarkers discovered by Hopkins, East Virginia Medical School, & Aaron Diamond, and options to license from others (hopefully at industry norm royalty rates, low to middle single digits). So that is possible, but will take more work, and perhaps some luck. CIPH has been down because once the Lancet hype died off and people realized the time frame for this was still years, it came back to the issues of sales and litigation.

It looks to me as though both companies (CIPH and Lumicyte) might be treading in each other's fields. And an earlier statement about CIPH royalty obligations being limited to $2 million is off. That is per sublicense from the Baylor technology sublicensed to CIPH by MAS. Without seeing the Baylor Technology Agreement, one can only guess at the number of sublicenses. If one per patent, at least 5. This document is exhibit A to the MAS/CIPH license agreement cited on the CIPH thread a while back (part of the S-1). But it was not in the EDGAR archives. Apparently, one would have to pay the SEC duplication fee to get that or go the reading room in NYC (which was at 7 World Trade Center and thus is likely gone?) or in Chicago. I'm hoping a query to the company will produce it for free. I'll report back.

Cheers, Tuck
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