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Biotech / Medical : GelTex Pharmaceuticals (GELX)
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To: James Silverman who wrote (41)10/28/1997 3:09:00 PM
From: NY0001  Read Replies (2) of 127
 
I would be the wrong person to answer such specific questions as there
is a high probability I could mislead. I suggest that you go to
Forbes Medi-Tech's website (www.forbesmedi-tech.com) or Rasio's website
(www.rasiogroup.com). You should get specific replies to your detailed
questions there.

I believe that Rasio has detailed data that has been published in the
New England Journal of Medicine and Forbes has completed a human feeding
trial with McGill University but cannot make the results public until
negotiations with a major international food manufacturer are complete.
Forbes just announced that, upon review of the clinical trial results,
the food manufacturer has just completed a Letter of Intent with Forbes
to complete a license agreement. The trial results should be available
for review after announcement of a completed license agreement.

The best data I have seen on nutraceuticals in general is from Schroders
research in London (analysts are Andy Smith 011-44-658-2196 and Kieran
Mahon 011-44-658-2431). They put out a comprehensive report (> 100 pages)
on the developing nutraceuticals market, of which Rasio and Forbes
are attacking the cholestorol-lowering segment. Some summary excerpts from
their report are:

"the most exciting market development in the food industry over the next
decade will be the expansion of the value-added food ingredient and nutraceutical
sectors"

"Value-added food has never seen such an era of growth and yet consumers
remain unappeased. To satisfy further demand, food producers face a new challenge:
to bridge the gap between food and pharmaceuticals. They must not only provide
food that tastes better, has better value and is more convenient, but
also offer health benefits. Food that is, in short, no less than a form
of preventative medicine."

"governments are already concerned about the escalating costs of healthcare and will strive
ato contain health costs by emphasising dietary factors in the prevention
of disease"

"Branded food manufacturers keen to avoid the competitive pressures
and structural decline factors in the sector will seek to incorporate more health-inducing
ingredients into their products."

"A number of the major global food manufacturers and pharmaceutical
companies will become increasingly interested in the potential of
functional foods"

London appears to be the hot-bed of investment interest in this
area to-date but I believe it will only be a matter of time before
the US investment community picks up on it, especially now that J&J
has entered the fray.

This whole area might be something Geltex wants to investigate in
addition to just the traditional pharmaceutical route.
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