Kosan BioSciences -- KOSN Message Board

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Biotech / Medical : Kosan BioSciences -- KOSN

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To: rkrw who wrote (693)	6/19/2006 12:01:41 PM
From: Mike McFarland	Read Replies (1) of 933

No comments about a new fellow from Roche? Dr. Clemens will serve as chairman of the Board's Strategic Advisory Committee and will serve as a member of the Compensation and Corporate Governance and Nominating Committees. Dr. Clemens has had a long and distinguished career as a pharmaceutical executive. Dr. Clemens worked for 33 years in the industry in various development, sales and marketing positions culminating as Executive Vice President, Business Director of Hoffmann-La Roche Inc. responsible for directing their very successful Global Oncology business --------------------------- You asked, 'Should Infinity have a higher marketcap?' At one time... "Infinity expects to have built a substantial and valuable pipeline of drug molecules and series of value-accretive partnerships to justify an IPO in 2006 at a pre-money value of $600M • To get there, we need to spend $250-300M• We don’t want to have raised more than $100-125M in pure equity before then because the dilution will be unacceptable• So, we will need cumulative, non-equity “revenues” from inception to “success” $125-200M" ipi.com page 17 So much for a 600M IPO. Coming out around 200M seems about right with peer company Kosan at 140M at $4/share. I wouldn't be surprised to see the marketcap of INFI drift down for a year after this reverse IPO, since they seem to be a little behind Kosan--although IPI's drug is water soluble and may be a better drug.

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