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Biotech / Medical : QLT PhotoTherapeutics (QLTI)
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To: Doug Meetmer who wrote (45)8/26/1996 8:36:00 PM
From: John Metcalf   of 1321
 
Pharmacyclics announced on 8-26-96 the capability of Dy-tex for site-specific cleavage of RNA (story is on PRNewswire, or pcyc.com). Dy-tex is a texaphyrin oligonecleotide conjugate, proprietary to PCYC, which mimics ribozymes. This program has implications for antisense-based product delivery.

So, PCYC has a ribozyme program, an athermatous plaque program, a radiation sensitizer, photodynamic therapy products, and an MRI imaging agent covered by an NDA. This seems like a lot of technology value for a $100 million company.

However, they have only $13 million in cash and will need further funding to advance all the research programs. Surely this wealth of science will be attractive to a corporate partner.
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