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

To: smh who wrote (2431)	1/1/2001 5:00:43 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 52153

Cool. What a great tool and gift. Thanks! Rough guess, but a pretty good one IMO.... post-Biacore, KDUS owns approx. 20% of Axiom, and the value of that 20% is about $3 million.

To: smh who wrote (2431)	1/3/2001 12:27:57 PM
From: keokalani'nui	Respond to of 52153

smh. Thanks, that is a neat list. One cross-holding that may in the future prove interesting is Techne's 49% interest in ChemoCentryx, not now public, which is devoted to chemokines and their receptors (the little I know of CC was learned in the recent chemokine 'chat event'). It looks like tech's interest was acquired for a mere $5 million, so there will be a big balance sheet effect when and if it is ever marked to market. Maybe one to add to the list? (Tech is certainly going under the valuation microscope today.) Wilder

To: smh who wrote (2431)	1/3/2001 2:34:30 PM
From: Biomaven	Respond to of 52153

smh, Thanks - a neat list. You might want to add TRPS which has a substantial holding in ARNA, now much reduced in value though because of the latter's decline. Peter

To: smh who wrote (2431)	1/3/2001 3:24:12 PM
From: Mike McFarland	Respond to of 52153

Axys has followed a complicated strategy that fits into that category. I've resisted creating the "cheap whore" thread, as I still own shares. Discovery partners has a marketcap of around 200M, Axys owns a chunk. Also, recently Axys sold PPGx to DNA Sciences 'for an undisclosed amount of of preferred stock'. AXPH may or may not be one to add to your list--let's see if you can get a second nomination--I may be the only masochist that is left holding shares, heh. ---- fwiw, I added some Genset today, averaging down here around $13. And I've bought back my TGEN below $7. All this does is bring me back up to half stock/half cash as my stocks have done poorly of late.

To: smh who wrote (2431)	1/3/2001 4:38:45 PM
From: rkrw	Respond to of 52153

SMH, AVM/CYTO AVM owns 1.5M shares of CYTO. AVM has a market cap of $15.7M 1.5M CYTO shares are worth $5.2M RKRW

To: smh who wrote (2431)	1/6/2001 1:10:09 PM
From: smh	Read Replies (3) \| Respond to of 52153

Wilder, Peter, Mike, rkrw, Thanks for the great suggestions. I have updated the table as follows(based on 12/31/00). Will hold off updating the portfolio until tomorrow in case there are any other additions. <Tech/Chemo> Tech investment in Chemo made within last 6 months and is less than 1% of TECH MC. Therefore, doesn't appear to be a potential source of significant undervaluation. If anyone still thinks it should be added I will be happy to do so. <AXPH/DPII> In addition to the 31% of DPII, it appears that AXPH has 23% of Akkadix Corp. The value of PPGx, now tranformed into an undisclosed amount of DNA Sciences preferred, remains an unknown. <AVM/CYTO> I believe AVM is down to 1.2M shares in CYTO Primary / Sub MC/MC % owned $ owned NBSC / DGI 28 / xx 82% xxx BTRN / SCS 102 / xx 30% xxx CEGE / ABGX 778 / 4828 10.5% 507 CNCT / ITMN 135 / 1066 4.2% 45 STEM / Modex 52 / 180 9.0% 16.4 MCDE / Iconix 47 / xxx 32% xxx RZYM / Atugen AG 220 / xxx 32% xxx TXB / Revotar Bio. AG 352 / xxx 55% xxx KDUS / Axiom 9.5 / 15 20% 3.0 TRPS / ARNA 77 / 352 9.4% 33 AVM / CYTO 17.8/ 178 1.58% 2.8 AXPH / DPII 209 / 289 31% 90 SMH