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Biotech / Medical : Matritech (NASDAQ - NMPS)
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To: William J. Leiby who wrote (528)12/23/1997 7:25:00 PM
From: Bill Canfield  Read Replies (2) of 849
 
I work for Bayer's Diagnostics Division, in the group that has been evaluating Matritech's progess on the cervical cancer marker. I've been reading the posts here for the past week or so, and I just want to comment on a few things. I don't feel comfortable telling everything I know in a public forum ... please contact me at canfieldw@hotmail.com.

Here's what I feel comfortable saying based on my knowledge of the diagnostics business in general:

1. Matritech's filing of a 510(k) rather than a PMA for the colon cancer marker has no bearing on the quality of their marker. It is simply the fastest way to get FDA clearance for the test.

2. Bayer has been negotiating with IMII for some time regarding a number of diagnostic tests. Cervical testing with NMP technology and IMII hardware sounds quit feasible, but I heard about it first here. Don't count on it.

3. Bayer is now in a postion where we have to pay out some big bucks to take the next step with Matritech in our joint venture. All of Matritech's technical information from the preliminary clinical trials has been presented to the company's senior management. No decisions have been made.

This is what I know. Even with a favorable decision from Bayer about the cervical test, we are still quite long way from a profitable commercialization of the product.

However, I strongly believe in their core technology and think this stock is a big winner in the long run.
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