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Biotech / Medical : Biotech Holdings

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To: jacq who wrote (98)	2/1/1998 4:15:00 PM
From: Mike Heimbuch	Read Replies (1) of 224

Jacq As I understand it after speaking at length to someone quite familiar with the diagnostic/analysis capabilities existent in drug research - there is some truth to the sister/clone reproduction potential. The larger truth is that the company was totally unfamiliar with the process of becoming aligned with a major pharmaceutical company and how drug development takes place. The role of someone like Dr. Gauci is not only helping with the drug development - but bringing the company up to speed on relationships and the procedures involved to protect company interests - also to find the right major pharmas to do business with - it has been a learning process for BI. Suffice it to say that none of us are probably in a position to know what modern technology can do - or how major pharmas approach the secretive business of drug development. The company says they are basically just getting cash flow positive. I cannot vouch for that - but I think we can assume that it is not from DIAB in any stretch of the imagination. I think we should assume that big companies have a sample of the product - but BI has already submitted patent applications - hopefully they will pan out. You are correct as far as I know - in saying what you did re: signing intent to proceed - which is exactly the professional approach I have been told is going on in regards to China. The company - with their inexperience - has not been in a hurry to sign exclusive agreements - without knowing who and what to trust - and just how big DIAB might turn out to be. As I understand it - DIAB in its present form - is not suitable for N. American - European distribution - and I think that means the cloaking compound it is embedded in. Their revenues at this point are coming from the manufacture of topical substances - gels, lotions, etc. I have spoken to the outfit in the US responsible for introducing BI to analysts and other houses - all of whom may get interested in the company - but it is a bit premature. What is needed most of all - is what is going on this winter. China J/V partnership efforts and the phase III underway south of Texas somewhere - maybe Caribbean. Jacq - this approach they have taken - is unorthodox to say the least - and I have been told a few times (not by the company) - that it has had both good and bad effects. I cannot vouch for this - as I myself am still running on deductive reasoning to put faith in the company. But - none of what they are doing makes much sense unless they have something significant. After all - there is certainly no stock hype associated with them - no one is getting wealthy at the company - and why above all - would they be doing this if they didn't have something? Mike

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