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Biotech / Medical : BJCT-BIOJECT-needle less injection product
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To: geewiz who wrote (75)11/12/1997 11:50:00 AM
From: Keith R.  Read Replies (1) of 534
 
A friend of mine attended the recent H & Q meeting. The following are some general points which he gleaned from those meetings w/ H& Q and other investors:

1. The glucose monitoring system is largely already developed and will begin human trials in Ireland, early in 1Q98. This will be a very short trial in duration and the firm believes will be a lay-up for success, as tests on dogs went quite well. (Apparently dogs snd humans have very similar interstitial fluids just below the skin). This should produce a positive announcement very early in 1998.

Interestingly, Cynus (CYGN) is developing a somewhat similar monitoring system to the BJCT/ELAN joint venture, but is experiencing some problems developing an algorithm to account for the variability of perspiration (the CYGN system is a "wristwatch" which attempts to monitor glucose levels through osmosis, directly under the wristwatch). One of the founders of cygn has left and is now on the bjct board. CYGN's mkt cap is about $400mm, BJCT's is about $37mm.

2. As expected, the company confirmed that the investment made by Elan in Bjct for the development of "pre-fill" technology is paying dividends in the form of the large pharmaceutical companies getting off the dime in their negotiations with Bjct. The Company hinted that within the next six months, at least two more alliances, in one form or another, will be consummated.

Good luck

Keith
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