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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: William Partmann who wrote (755)	12/9/1999 1:09:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 10345

With the issuance of these shares, Elan and its affiliates will own approximately 5.7% of Ligand's common stock (16.6% on a fully diluted basis). I'm slow tonight. Could someone please explain why ELN would own more LGND diluted (16.6%) than non-diluted (5.7%). Thanks in advance, Gary Korn

To: William Partmann who wrote (755)	12/9/1999 8:49:00 AM
From: William Partmann	Read Replies (1) \| Respond to of 10345

Ribozyme Pharmaceuticals to team up with Elan unit BOULDER, Colo., Dec 9 (Reuters) - Ribozyme Pharmaceuticals Inc. (NasdaqNM:RZYM - news) said on Thursday it had agreed to form a joint venture with an affiliate of Elan Corp. Plc (quote from Yahoo! UK & Ireland: ELA.L) (NYSE:ELN - news) to bring to market an anti-cancer agent and a system to inject it into the body. Under the agreement, the two companies will develop Ribozyme's ribozyme Herzyme against Human Epidermal Growth Factor Receptor Type 2 for treatment of breast and other cancers. Also, as part of the agreement, the joint venture will license the Medipad drug delivery system, a disposable subcutaneous drug delivery system from Elan, for development with Herzyme. Ribozyme said it may fund its share of development costs of the joint venture through the sale of preferred stock to Elan. Elan also said it would buy some Ribozyme common shares.