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Biotech / Medical : Celgene-CELG

CELG 108.24

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Nov 22 4:00 PM EST

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To: Miljenko Zuanic who wrote (264)	2/11/1999 2:29:00 PM
From: John Bloxom	Read Replies (1) of 804

Miljenko: My information on the decision not to license endo came from Gubish (Edward as I recall) at ENMD itself. Also from an investment banker who worked on the IPO and has followed the company since. I am comfortable with it. Endo is a much simpler molecule than angio in that (and I am relying completely on third hand info here) it has only a fraction of the refolding points of angio and therefore should be easier to produce recombinantly. It also would seem to be more potent than angio. Why would ENMD, fresh with pocketfuls of BMY's money from the angio deal, and with NCI footing most or all of the bill on the endo development, have licensed it out so close onto discovery? A license to BMY at that point (even now) just doesn't make sense. BTW, see the NCI endo news today? To all: Sorry about spouting off here on ENMD. Forgot where I was. John

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