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To: Cal Gary who wrote (12095)	2/16/2003 4:21:37 PM
From: padco	Read Replies (2) of 14101

While we wallow through this twitching period, here's an article that may be of interest. Its the last of a four part series that deals with the alliances between biotechs and Big Pharmas For our purposes, it provides a statistical background for the question whether DMX should have partnered with a major Pharma during the development of Pennsaid. The situation with WF10 is different because up until recently DMX has only owned 20% of Oxo Chemie. (Like we were Oxo's Big Pharma!!) It may also shed light on expectations for future alliances either for drug developments or marketing agreements. signalsmag.com As I try to educate myself more about the biotech business, I'm struck by how unique Dimethaid is not to have partnered itself with a major Pharma. I do not consider the standstill agreement with JnJ to be a partnership. Does anyone know of a junior drug development company with products as far advanced in the FDA process as DMX, which has no partnership with a large Pharma? Another question for the thread; How many believe that an alliance with a large Pharma, which may have bankrolled the Pennsaid development, would have been preferrable to the Acqua financing?

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