rNAPc2 is one of those molecules that has been kicked around from biotech to biotech over the years. It started at Corvas in the 90's. Dendreon munched Corvas because it was selling below cash, so DNDN took the cash and stopped development of Corvas programs (if there were really any ongoing; I don't remember, but I seem to remember Corvas splutted in part because of IT'S failure with rNAPc2). Eventually they put rNAPc2 on the block, and for some reason NUVO bought it (Got it really cheap, though). I don't know if any serious biofreak has looked at it recently. Miljenko might remember something of value. I'm not sure what NUVO thought they saw that could resurrect it. In any case, their should be plenty of literature out there on it, much free because of how old the program really is.
Bottom line, my seat of the pants feel is that rNAPc2 is worth a lot less than the $2 CIBC gives it. For sure do your DD here.
I am always leery of biotechs that think they can do better than other biotechs/pharmas with a drug that has already failed/been discarded (except maybe some programs that get spit out post-merger due to anti-trust rules). This includes approved ones that have failed in the marketplace, as well as ones that never made it there. Both suck up money when their revival is attempted, regardless of how cheap the latest company got it.
Edit: In July '01, the FDA wanted more trials after PII, and Corvas couldn't afford it. Antibodies had developed in some patients. Not sure if that was the only red flag.
Cheers, Tuck |
