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Biotech / Medical : Small Cap Foreign Biotech -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (72)	7/7/2000 3:32:11 PM
From: RWReeves	Read Replies (2) \| Respond to of 363

Canadian Discoveries Medical Fund portfolio: www.cmdf.com as of 3/2000 these are 1/3 public 2/3 private they say. I can barely find the public ones <g>! An interesting list of Canadian biotech, may be worth watching. Don't know if us Yanks can invest. Whole fund is only 350 MM. See if you spot any you know. Disclosure: I don't own any CMDF nor have any connection to them. Strictly FYI. Send no money. The usual. I do note some of my favorites are not on here, however. RWR Candaian Medical Discoveries Fund Inc. portfolio: AnorMED Apoptogen Biostart Cytochroma Diabetogen Drug Royalty Elipsis Biotherapeutics Exogen GeminX Biotechnologies GenSci Regeneration Sciences Genzyme Molecular (GZMO) GlycoDesign Hemosol (HMLSF) HRG-Health Resources Group Life Imaging Systems MedTech Partners MethylGene Microbix Biosystems Microbix Biotech Morphometrix Technologies Neurocrine Biosciences (NBIX) Neuromotion Neuroscience Development Nexia APS Allelix (NPSP) Phagetech Phytogen Life Sciences Queens’ Scientific Stressgen Biotechnologies Synapse Technologies Systems Xcellence T2C2 Terragen Discovery Tm Bioscience Ultravision UMDI Variagenics Vaxis Therapeutics Xillix Technologies

To: nigel bates who wrote (72)	11/6/2000 4:53:01 PM
From: nigel bates	Read Replies (1) \| Respond to of 363

Noted this a little after the event... Still holding a small speculative position. 27th September 2000 Proteome Sciences plc is pleased to announce the appointment of Dr. Gerard McGarrity as Chief Executive Officer (CEO) of its US subsidiary, Intronn LLC. Gerard McGarrity has a distinguished career in gene therapy. He was the Senior Vice-President and Director of Development at Genetic Therapy Inc., (GTI) until December 1998 (now a Novartis company) and, most recently was the Chief Scientific Officer at Cambridge Genetics Limited. Having started as a Research Associate at Coriell Institute for Medical Research, Camden, New Jersey, USA, he rose through the Institute to become President and CEO from 1986 - 1991. He is an editorial Board member of Human Gene Therapy and has sat on a number of prestigious committees and associations related to gene therapy, most notably serving two terms on the Recombinant DNA Advisory Committee of the U.S. NIH, including one term as Chair of the Committee. He has acted in a consultancy capacity to many major biotechnology and gene therapy companies. As outlined in the Chairman's Statement in the latest Annual Report and Accounts, a separate structure has been prepared for Intronn LLC to simplify the ownership, whereby Intronn LLC will be incorporated and the differing profit participations will be exchanged for equity in the new company. Under these arrangements, Proteome Sciences will be allotted 60 per cent of the equity and Intronn Holdings 40 per cent. These percentages are ahead of dilution from the issuance of options to the CEO, senior scientists and issuances of stock by way of fund raising. A mezzanine funding was completed in July which raised $500,000, the initial part of a $3-$5m funding which is currently in process. A high profile Scientific Advisory Board and a Management Board, including some eminent Non-Executive Directors, are being assembled. Heads of Agreement have been signed for a collaborative programme using SMaRTTM (spliceosome mediated targeted trans-splicing) and other collaborative research and partnering opportunities are being actively addressed. The intellectual property and results from the research in gene tagging and oligonucleotides, both of which have outstanding prospects, will be spun out separately from SMaRTTM into new entities for exploitation with external partners/specialist biotechnology investors. This process will enable Proteome Sciences to maximise the value of its interest in Intronn and prepare for a possible IPO in the USA or Europe. Dr. McGarrity, having established himself at Intronn, will finalise the business plan and corporate strategy to complete the fund raising and to recruit the key individuals to build the management team. A strategic review of Intronn's key research projects outside of SMaRTTM should accelerate the spin out and commercialisation of the oligonucleotide and gene tagging programmes. This will establish external valuation of the technologies and permit incorporation and flotation of those entities in due course. Commenting on the appointment, Christopher Pearce, CEO of Proteome Sciences said "I was pleased by the quality of candidates for this key position and I am delighted that Intronn has been able to secure such a high profile figure as Gary McGarrity from the world of gene therapy. His record speaks for itself and we look forward to his completing the mezzanine funding for Intronn ahead of preparing the business for IPO next year. He will have our full support to develop Intronn into a major corporation with the SMaRTTM technology platform over the next two years. The prospects for Intronn, our US subsidiary, look outstanding and we intend to maximise the value of the commanding position we have established with SMaRTTM". Over the course of this year, the Board of Proteome Sciences has addressed a wide range of strategic opportunities including acquisitions, possible mergers and corporate alliances. The Directors have not found a deal offering better prospects than those currently available at Proteome Sciences and which would more rapidly enhance shareholder value. The discussions which have been held with certain parties over the period have not resulted with a suitable transaction and such discussions have been concluded. The Board, nevertheless, will continue to look for suitable opportunities. The prospects for the two platform technologies look most encouraging and it would not be prudent at this stage to unnecessarily dilute Proteome Sciences' strong position in proteomics and Intronn's SMaRTTM platform in the U.S....