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Biotech / Medical : XNVAY or XEN

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To: Tom who wrote ()	1/27/1997 12:38:00 AM
From: Dave K	of 28

Tom, not sure if you are trading this or following the fundamentals. Here's my take: I recently bought the ADR. They look like a nice diversification into small molecule bios that are screening for drugs from natural sources such as microorganisms (fungi and bacteria), and from plants and plant extracts. Their initial library consists of 10,000 compounds, with Parke-Davis (division of Warner-Lambert) as the first partner on screen collaboration. They have two novel anti-cancer drugs in clinical trials. These are aimed at reversing the resistance to anti-cancer drugs that develops during treatment, the main cause of failure. Also working on a new class of thrombosis drug (clot clearing without the bleeding side-effects). This drug was derived from their "drugs from bugs" technology. I think it's safe to assume other drugs leads should follow from their huge library. They just opened a new subsidiary (MetaXen) in CA in Sept 96 to assist Xenova Preclinical with drug leads. Dr Louis Nisbet,the CEO, sounds like scientist with a head for business. Apparently they have been able to retain significant marketing rights in their alliances. I'm still learning, so other opinions are welcome. Dave.

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