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

To: tuck who wrote (398)	1/21/2001 2:45:18 AM
From: tuck	Read Replies (3) \| Respond to of 1784

A few of my own observations having read XGEN's S-1 . . . Business model seems sound. The various light-emitting animals, tumor and fungal cell lines, bacteria, etc., represent a recurring revenue stream. High-margin according to management. Commercial deals with Pfizer and Novartis, plus evaluation deals with J&J and DuPont. Various other smaller ones, including Cell Genesys, where co-CEO David Carter is a director. He's also a director at Immunogen, but no deal with them at the moment. Mice, at the moment, are not subject to the Animal Welfare Act, though that may change. Currently, XGEN is subject to few regulatory burdens. Potential beyond biotech into the chemical industry for toxicity and safety studies. Did I mention DuPont? MDS a strategic partner and large shareholder due to recent acquisition of DNX, a former MDS company. MDS gets to use XGEN's technology royalty free at its CRO. MDS is a Trickle holding. CFO is new and young, but seems to have a good resume for his age. Can't say I recognize anyone on the SAB, but that doesn't mean much. No litigation! INCY, LEXG, etc. mentioned as competition, but they don't have anything like this. As to how XGEN stacks up against these, I defer to td, PB, Doc Voodoo, Rick, Miljenko, and others with more experience, however. Claims applications in proteomics. Hoping it comes out by Wednesday, as I'm leaving for about a week on an overdue vacation. Not sure if I'll be checking in; briefly if at all. I might designate a volunteer as a purchasing agent if need be. Maybe Tom Pope would be up for that? Y'all make sure Mr. Market behaves while I'm gone. One thing I'll be doing is hitting the lab automation conference in Palm Springs. Any biofreaks planning on attending? I welcome, no, I beg and plead, offer beer, for commentary here. Thanks everyone! Cheers, Tuck