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Biotech / Medical : ACMI - Accumed Inc.
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To: Cisco who wrote (1217)1/20/1998 1:39:00 PM
From: Frank Buck  Read Replies (2) of 1894
 
Cisco,

I know you sadly regret missing the conference call because of
an out of town meeting-engagement. Here are a few highlights:

* NewCo venture (name will change-to OncoMedics?) will allow for joint marketing and distribution of products with the AcCell/Savant and TracCell 3000 being some of the initial key products.

* The cytometric evaluation of lung sputum by the Savant will address a $3B market. The newly developed lung cancer detection device (using cytometric evaluation) will be able to detect 90% of screened lung cancer at a Stage 0 or Stage 1 phase. Presently only 10% is detected at Stage 3 phase.

* The Savant cytometric diagnostic evaluation equipment will compliment and interphase with the existing AcCell/TracCell devices, and not "cannibalize" future sales of those devices as a result.

* NewCo venture will reduce AccuMed operating expenses!

*Sakura's contribution; $2.5M cash, new product development, distribution channels, and cytopathology related inputs??.

* The NewCo venture is timely and it will allow for a quicker product development and marketing of the above mentioned products and jointly developed ones.

* NewCo being taken public within twelve months! Because NewCo is not a developmental stage company, the effects of a rapid burn-rate of its initial cash position should not be a factor.

* There is a "possibility" of a greater than 50% ownership in NewCo by AccuMed.

* AccuMed should realize a positive impact on both the "Balance Sheet and Income Statement" as a result of the NewCo venture. (We had already made that assessment)

** AccuMed '98 R&D cost-reductions between $3M & $4M !! as a result of equity carving allocation to NewCo.

* Peter Gombrich "disheartened" at current ACMI shareprice.

* When Peter was asked about '97 Q-4 EPS estimates coming close to estimates...a "cum-see...cum-sa" response was given.

I think the warden will like this! What is your take?

Frank
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