SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Ligand (LGND) Breakout!
LGND 199.20+0.1%Nov 21 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: bob zagorin who wrote (25648)9/22/1998 2:25:00 PM
From: jayhawk969  Read Replies (1) of 32384
 
Bob,

The devil is in the details. From the Seragen filing many disclosures were made.

Seragen was rapidly running out of money. Drastic measures were necessary to stay afloat. Boston University was by far the largest shareholder. BU bought the manufacturing facilities from Seragen and took over the operational staff(in excess of 100 employees) in the 2nd half of '97(recall). The purchase price was $5MM and BU received certain stock collateralization.

Since BU was a primary shareholder, I personally do not consider the acquisition of Marathon an arms length transaction. It will most likely cost Ligand 8MM-- 5MM acquistion price and 3MM upon approval of Ontak with an acquisition date no later than January of 99. What I currently want to know are the revenue streams for Marathon and the operational costs associated with the acquisition.

IMO, I believe the holdup on Ontak to be manufacturing related. This is not a chemical reaction, it is a biochemical reaction to grow and splice the toxin. Obviously Ajinimoto an original licensor has a great deal of know how in this area. At one point the filing infers that the drug has been previously made in the laboratory. If I can find the filing on line I will post the reference.

J.D.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News