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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: scaram(o)uche who wrote (5134)	6/18/1998 12:25:00 AM
From: squetch	Read Replies (1) of 9719

[Steve Gorlin] >>However, the guy seemed like a straight shooter.<< Rick, I saw the interview, what made you feel this way? He invests in some interesting companies some of which were Blair IPOs. I think I'll look for unbiased biotech advice elsewhere. sec.gov sec.gov Here is a description in Fortune on the founding of ENMD. I thought frenzied was good for sellers? >>Naturally they planned to go public as soon as possible. In preparation for that task, Gorlin secured capital and helped to set up a board of directors. He did not, however, seek venture capital, which is ordinarily necessary to convince the public that a biotech company is for real. Seeing that the IPO market was so frenzied (indeed, the entire biotech market was a little juiced--biotech stocks rose 120% in 1991 alone), Gorlin did not want to share the gains with too many people. Instead, he borrowed money from his friend Morty Davis, chairman of D.H. Blair Investment Banking, who backed many of the flightier biotech concepts during the boom. Together they put in $3 million and looked forward to a quick IPO. That's when the entire sector started to tank. So much for Plan A.<< by Erick Schonfeld bigmouth.pathfinder.com IMO, the Atlanta Constitution in '96 makes ENMD sound like a Gorlin club and says of Gorlin >>a successful EntreMed could rejuvenate Gorlin, a boom-and-bust investor who was stymied in recent years by a failed fiber-optic cable venture and other slow-moving investments.<< cgi.amcity.com squetch

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