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Biotech / Medical : Biotransplant(BTRN) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (587)	7/11/2000 5:37:47 AM
From: sim1	Read Replies (1) \| Respond to of 1475

>>Don't know anything about Evolution Capital<< Neither do I (no surprise!) but found this and the following dated stories. Can't remember if these were posted earlier. Patent puts BioTransplant in hog heaven Mar 22, 2000 11:20 AM ET By Lori Valigra, dbusiness.com BOSTON, March 22 (dbusiness.com) -- BioTransplant Inc. and The Massachusetts General Hospital said they have received a patent for a method of modifying swine cells, organs and tissues so they can be transplanted into humans with less chance of rejection. The news boosted the stock price of BioTransplant (Nasdaq: BTRN) by almost 30 percent or $2.63 per share to $11.63 just after the opening this morning on brisk trading. The 52-week range is $1.94 to $23 per share, a high reached on March 3. U.S. patent 6030833 covers "transgenic swine and swine cells having human HLA (human leukocyte antigen) genes." A transgenic swine is bred with a human gene and the antigen in it to help lessen rejection by a donor. Mass General is a partner of BioTransplant. The human body's immune system acts naturally against any foreign body, so lessening the immune response through immunosuppressive drugs or better-matched organs or tissues is an important part of a transplant of any kind. The drugs have serious side effects, so companies like BioTransplant have been looking for ways to dampen the immune response more safely. Because BioTransplant uses pig organs and tissues, it also could help alleviate the severe shortage of available human organs for transplant. The new patent targets natural killer cells, which play a pivotal role in the immune response against transplanted tissue. "In conjunction with the $2.5 million milestone payment we received from our partner, Novartis AG, today's patent gives us a stronger strategic position in this area," said Elliot Lebowitz, chief executive officer of BioTransplant. The milestone payment was made last year. The company reported a net loss of $8.67 million or $1.01 per share on revenue of $9.5 million for the year ended Dec. 31, 1999. It also raised $9.7 million in a private placement of 1.2 million shares of common stock on Feb. 14, 2000, and in December 1999 it raised $7.7 million in a private placement of 1.7 million shares of common stock. Evolution Capital [a subsidiary of the Carson Group] was the placement agent for both transactions. Correspondent Lori Valigra covers Boston biotech, health and medical issues for dbusiness.com. E-mail her with story ideas and comments. Copyright © 2000 dbusiness.com. dbusiness.com is a trademark of dbusiness.com, inc. All Rights Reserved. digitalflorida.com digitalflorida.com digitalflorida.com