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Biotech / Medical : UK AND EUROPEAN BIOTECHS.

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To: trevor john wilkinson who wrote (2)	12/12/1996 5:00:00 AM
From: James Reynolds	of 64

Trevor, I am surprised that you do not follow Chiroscience. The company is an acknowledged world leader in chiral technology and currently has a very exciting R&D pipeline; 7 programmes developing single isomer versions of existing generic drugs and 4 programmes in new chemical entities researching inhibitors of enzyme families (including MMP inhibitors for arthritis and cancer). The company has five drugs in clinical trials; two in Phase III, one in Phase II and two in Phase I. A further three are about to enter Phase I clinical trials. Levobupivacaine, a long acting local anaesthetic, has already shown impressive results in early Phase III trials and the company expects to apply for marketing authorisation for this drug in late 1997. Analysts predict it could have sales in excess of œ150 million within 5 years. The acquisition of Darwin helps to broaden and strengthen the company's technology base and creates a unique international drug discovery company with a broad range of capabilities from gene-based research through to clinical development. All in all, a very impressive company even by U.S standards. Regards, James

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