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Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (7823)	3/29/2000 9:49:00 AM
From: Jim Oravetz	Read Replies (1) \| Respond to of 8116

Random edits from the S-3 Registration filing: The market for genomic and proteomic technologies was estimated at $672 million for 1998 and is expected to grow to $1.9 billion by 2003. We believe that most currently available technologies suffer from the following limitations: .poor quality results due to the lack of integration; .low productivity due to the lack of automation; .limited flexibility, preventing researchers from tailoring experiments; and .high technology access fees. We believe our proteomics drug discovery platform has the following advantages compared to other technologies: .simplicity; .higher-throughput data generation; .direct protein-interaction measurement; .fewer false positive results; .rapid formatting of high-throughput screening assays; and .identification of specific ligands, which provides a starting point for rational drug design. OUR STRATEGIES Proteomics We intend to be a premier provider of proteomic systems and services that enable our customers to analyze genomic and proteomic data, understand biochemical pathways and identify the mechanisms of disease. The key elements of our proteomics strategy are: .becoming the leading company to market a comprehensive database of information relating to the human proteome; .developing an expansive and proprietary database of signaling pathways within the human proteome; .establishing a position as the leading company in providing protein-protein interaction data to the pharmaceutical and biotechnology industries; .developing a strong intellectual property position with respect to novel protein targets; and .developing target arrays to be used for lead optimization. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Common stock offered by Cytogen.....6,000,000 shares Common stock to be outstanding after this offering.. 78,649,096 shares (1) +++++++++ We expect to significantly increase the funding of AxCell Biosciences Corporation for the proteomics program in 2000. The operating requirements for AxCell will be funded by our existing cash balance. The capital requirement for AxCell may be funded by a $1.4 million line-of-credit agreement entered into in February 2000 between Finova Capital Corporation and us. From time to time, until November 2000, we will draw on the Finova facility to finance the acquisition of computers and equipment. Each loan will have a fixed term of 42 months at an interest rate equal to 8.65% plus the index rate and will be collateralized by the newly purchased equipment. We believe our approach to detecting protein pathways has the following distinct advantages compared to the yeast two-hybrid system: simplicity, higher throughput data generation, direct protein interaction measurement, fewer false positives, rapid formatting of high-throughput screening assays and identification of specific ligands, which provide a starting point for rational drug design. We believe that target identification may be facilitated by the use of the IFP Database. We anticipate the IFP Database will allow identification of disease-related alterations in protein pathways by comparing protein pathways in cells and tissues associated with a disease model with pathways in normal tissue. We believe that this technology will enable researchers to identify more efficiently potential targets. We are developing high-throughput screens for drug development in cases where targets are proprietary to us. Customers may license these targets and receive the components necessary for a high-throughput screen. Finally, we believe that we can accelerate lead compound optimization through the supply of related protein-component family members, or protein arrays. We believe that these protein arrays contain the proteins with which a researcher can test a lead compound for cross-protein interaction. Such cross-protein interactions may represent the side effects which the lead compound might invoke. We believe that modifications of the structure of the lead compound followed by further testing with the target array will lead to more efficient lead compound optimization. ******************************* We plan to chart the entire human proteome of intracellular protein signaling pathways. Our existing robotics systems are designed to permit generation of approximately 200,000 data points per month. We expect to reach this level of data generation by mid-year 2000. We believe we can map the signaling pathways in the entire human proteome in a four-year time period based upon our existing robotics systems. We also believe that with additional resources, we could accelerate computation of this project to a two-to-four-year time period. We intend to sell multi-year subscriptions to pharmaceutical and biotechnology companies, pricing the product according to the depth and breadth of information it contains. )))))))))))))))))))))))))))))))) Of the several approaches used commercially to analyze the proteome, the main direct competitor with our technology is the yeast two-hybrid system. Two companies, Myriad Genetics, Inc. and CuraGen Corporation, use this method to perform large-scale cataloguing of protein-protein interactions. CONTRACTS/Agreements etc: Elan Corp. plc We entered into a license agreement granting Elan worldwide rights to a group of peptides and associated technology for orally administered drugs that are transported across the gastrointestinal epithelium, as well as rights to other orally delivered drugs derived from the research program. Elan is responsible for the further development and commercialization of this technology. We are entitled to royalties from sales of any product developed and commercialized based on this technology.