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Biotech / Medical : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: Fred Levine who wrote (1067)	11/2/1999 5:15:00 PM
From: caly	Respond to of 2515

The release in on their website. imclone.com

To: Fred Levine who wrote (1067)	11/2/1999 5:53:00 PM
From: Pseudo Biologist	Read Replies (3) \| Respond to of 2515

It sounds as if, like me, you did not read every word of the S-3 for the secondary. Here is a relevant piece: AMERICAN HOME PRODUCTS In December 1987, we entered into a vaccine development and licensing agreement with American Cyanamid Company ("Cyanamid") that provided Cyanamid an exclusive worldwide license to manufacture and sell vaccines developed during the research period of the agreement. In connection with the agreement, Cyanamid purchased 410,001 shares of our common stock. During the three-year researchperiod of the agreement, which period expired in December 1990, we were engaged in the development of two vaccine candidates, the first of which was for N.gonorrhea based on recombinant proteins, and the second of which was for Herpes Simplex Virus based on recombinant glycoproteins B and D. In September 1993, Cyanamid's Lederle-Praxis Biologicals division and ImClone entered into a research collaboration agreement, which by its terms supersedes the earlier agreement as to N. gonorrhea vaccine candidates, but notas to Herpes Simplex Virus vaccine candidates. The successor to Cyanamid,American Home, has the responsibility under this agreement to pay research support to us, as well as milestone fees and royalties on sales of any N.gonorrhea vaccine that might arise from the collaboration. In January 1998, this agreement was extended to continue annual research funding payable to us in theamount of $300,000 through September 1999 and to extend through such date the period by which American Home is required to have filed an IND application toinitiate clinical trials with a vaccine candidate. If such filing does not occur by October 1999, American Home is required to pay additional fees to us, failing which the product shall revert to us.