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Biotech / Medical : ATIS is on the move! -- Ignore unavailable to you. Want to Upgrade?

To: Barry Shore who wrote (1856)	6/28/1999 11:09:00 PM
From: Marshall Teitelbaum	Read Replies (1) \| Respond to of 2205

Barry, I don't really see IART as a threat. They are considered solid because they have their artificial skin product(out for a few years, with primary initial purpose for burns, but gradually increasing use in other areas), have a product likely coming out over the next 12-18 months(a dura mater replacement), and have an alliance with JNJ. They have also made a few acquisitions over the last year that have increased their likelihood of gradual revenue production, aside from just their artificial skin. They are a pretty solid company that will likely do fine. However, I don't see them as having the pipeline that ATIS does, nor is the cartilage a current area of major IART competition. ATIS also has a product likely close to market, as long as the study is positive for DG(within 12 months). They have the cosmetic applications and other uses for Transcyte, as well as the cardiovascular applications. The cosmetic component may become more of an area of competition with JNJ involved for IART, but if ATIS comes through, I still see their pipeline as making them the long-term potential monster in tissue engineering. Of course, IART has the biggest name alliance(JNJ) and more near-term revenues, so this makes them more palatable and likely safer in the shorter haul. However, ATIS becomes much more palatable itself if DG pans out in the ongoing study. As far as burn purposes, TC likely has more need for use in less severe burns, but this market is going to be relatively minor for both companies in the long haul. I do agree that in the long haul that ORG will probably be left behind by companies such as ATIS, IART, and possibly even ORTC and LIFC. However, speculation is just that until results come through, and ORG's technology is good(similar skin to ORTC)...but pipelines become the major long-term consideration along with alliances, etc.(ATIS, ORG, and IART all have gotten big partners, with IART's the current strongest in the area, but the best deal for the partner company is yet to be seen between ATIS and IART). Hope all is well, Marshall