Bridge Technology Group Announces Investment Opinion on Advanced Tissue Sciences
Bridge Technology Group LLC Initiates Coverage of Advanced Tissue Sciences With a BUY Recommendation
NEW YORK--(BUSINESS WIRE)--April 7, 1999-- Please Visit Bridge's Web Site At www.BridgeNYC.com for Detailed Report
Bridge Technology Group LLC announced today that it has initiated coverage of Advanced Tissue Sciences (Nasdaq:ATIS - news) with a BUY recommendation. The full text of this report can be accessed at Bridge's web site, at www.BridgeNYC.com.
Excerpts from the report follow:
Advanced Tissue Sciences, Inc. is a leading tissue engineering company developing living human tissue products for therapeutic applications such as tissue repair and transplants. ATIS has one FDA-approved product (TransCyte(TM)), one product in Phase III clinical trials (Dermagraft®), and a product pipeline that includes tissue engineered cartilage for orthopedic applications, engineered cardiovascular tissues such as blood vessels and heart valves, and products with applications in cosmetic and reconstructive surgery. ATIS has teamed with Smith & Nephew plc, a world leader in wound care, for the commercialization of TransCyte, Dermagraft, and ATIS' cartilage products.
We believe ATIS is significantly undervalued given its product pipeline, its technology platform, and its relationship with Smith & Nephew. We are initiating coverage on ATIS with a BUY rating, and recommend purchase of ATIS for investors tolerant of the risks associated with micro-cap and small-cap equity investments.
Human-Based Technology - Integrated Strategy Addressing Large Markets
- ATIS is using a fully human-based approach to growing human cells into functioning human tissues and organs for transplantation. Large target markets include burns, chronic wounds, orthopedic applications such as cartilage, ligaments and bone, and cardiovascular tissues such as heart valves and vascular grafts.
- ATIS has a strong intellectual property porfolio, with 49 issued patents worldwide and licenses to 18 MIT patents.
Products and Pipeline - One FDA-Approved Product, Another in Phase III Clinical Trials
- TransCyte has been FDA-approved for the treatment of second and third-degree burns. TransCyte consists of a sheet of bioengineered dermal tissue with an ultra-thin synthetic covering.
- Dermagraft, a living, human dermal replacement product designed to treat chronic skin ulcers (eg. diabetic foot ulcers, venous ulcers, etc.), is currently on the market in Canada, the U.K. and several European countries, and is in pivotal Phase III trials in the US.
- Pipeline Products: Includes cartilage and ligaments for orthopedic applications, heart valves and vascular grafts for cardiovascular applications, and injectable collagen for cosmetic and scar revision, urinary incontinence, surgical applications, device coatings, and cosmeceuticals.
Strong Corporate Partner - Smith & Nephew plc
- ATIS and Smith & Nephew plc entered into a joint venture to globally market Dermagraft, TransCyte, and the future cartilage products. Smith & Nephew is a global healthcare company with over $1.7 billion in annual sales and a strong record of developing, manufacturing and distributing a diverse array of tissue repair products focused primarily on bone, joints, skin and other soft tissue.
Coming Milestones - BUY Recommendation
- We foresee a meaningful flow of new events for ATIS based upon the generation of revenues internationally, the presentation of clinical data at leading scientific conferences, potential partnerships in its cardiovascular and other program areas, and the launching of TransCyte and Dermagraft in additional foreign markets.
- ATIS, currently near its 52-week low, is trading at an excessively large discount to its peer tissue-engineering group as well as other biotechnology companies with promising products in late Phase III clinical trials. We recommend purchase of ATIS common stock.
Bridge Technology Group LLC is a registered investment advisor focused on identifying emerging growth companies in the healthcare and information technology sectors that offer compelling investment opportunities over the long term. By providing comprehensive financial services, including corporate finance, M&A advisory, strategic partnering and communications consulting, the company positions itself to provide a fully integrated package of value-added services to emerging growth companies.
The information in this press release has been obtained from sources that Bridge Technology Group LLC believes to be reliable, but the Company does not guarantee its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation by Bridge Technology Group LLC for the purchase or sale of any securities. Bridge Technology Group LLC may solicit investment banking, consulting or other business from, any company mentioned in this release. Bridge Technology Group LLC or persons associated with Bridge Technology Group LLC may at anytime be long or short any of the securities referred to herein and may make purchases or sales thereof while the Company's reports are in circulation or posted on the Bridge Technology Group LLC web site at www.BridgeNYC.com. This material, or any portion thereof, may not be reproduced without prior permission from Bridge Technology Group LLC. Bridge Technology Group LLC is not responsible for the contents of this document that is intended for electronic transmission and could be thus subjected to tampering or alteration. Copyright (c) 1999 by Bridge Technology Group LLC. All rights reserved.
---------------------------------------------------
|
