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

To: Michael Young who wrote (3007)	2/27/2001 9:37:05 AM
From: Biomaven	Respond to of 52153

Here's a MLNM release which may help fuel this latest mini biotech resurgence: Tuesday February 27, 7:59 am Eastern Time Press Release SOURCE: Millennium Pharmaceuticals, Inc. Millennium Issued Broad Patent for ACE2 Gene Which Holds Potential For Targeted Disease Management - Synergy of Genomics and Biology Continue to Validate Industry's Leading Technology Platform - CAMBRIDGE, Mass., Feb. 27 /PRNewswire/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM - news) today announced that it has received a key United States patent related to the ACE2 gene. The award, issued as U.S. Patent No. 6,194,556, is a broad composition of matter patent which covers all use of the ACE2 gene for the development of therapeutic and predictive medicine products. The ACE2 gene is significant because it is the first identified human homologue of ACE, a known target for the treatment of hypertension and congestive heart failure, and therefore is a potential new target for these cardiovascular diseases. (Photo: newscom.com Millennium scientists discovered ACE2 as part of an ongoing search for novel genes related to heart failure. It was identified from thousands of gene sequences obtained from biopsies of human heart tissues. Millennium uses a unique genomics-based approach to drug discovery, employing the Company's leading-edge technology platform. This gene-to-patent platform employs DNA arrays, computational biology, and cell-based and genetic disease models, as well as an integrated chemical lead discovery and validation platform. Scientists use this platform to discover genes in novel molecular pathways that lead to diseases such as congestive heart failure, and then to validate the potential of these genes as innovative therapeutic targets for breakthrough medical products. ``The identification of the ACE2 gene, in addition to hundreds of other genes and related targets, is exemplary of the strength of Millennium's genomics-based approach to drug discovery and development,'' said Robert Tepper, M.D., chief scientific officer at Millennium. ``This disease-focused strategy, supported by Millennium's cutting-edge technology platform, will facilitate the development of potential breakthrough treatment options for those suffering from debilitating and often fatal disease.'' The ACE2 patent serves as another milestone in the Company's aggressive strategy to develop a comprehensive U.S. and foreign patent portfolio. By conducting gene discovery in the context of human disease, Millennium assembles the critical biological data necessary for the strongest and broadest patent rights possible. ``The issuance of the ACE2 patent demonstrates that the Millennium patent strategy is sound under the new, more stringent gene patent guidelines of the U.S. Patent Office,'' said Scott Brown, associate general counsel and chief patent counsel of Millennium. ``In addition, the broad scope of this patent presents very significant impediments for competitors seeking to exploit ACE2 for the discovery of medically relevant products.'' Background on Cardiovascular Disease and Congestive Heart Failure According to the American Heart Association, almost 60 million Americans suffer from one or more types of cardiovascular diseases (CVD). In 1997, CVD caused 953,110 deaths (41.2 percent of all deaths); about one sixth of all people killed by CVD are under age 65. There are three major risk factors for CVD, including cigarette smoking, high blood cholesterol and hypertension, all of which are modifiable with treatment. Congestive heart failure is a condition in which the heart cannot pump enough blood to meet the needs of the body's other organs. Approximately 4,600,000 Americans suffer from congestive heart failure (CHF), with 550,000 new cases occurring each year. Seventy-five percent of patients have hypertension prior to the development of CHF. The five-year mortality rate for CHF is about 50 percent. Patent doesn't seem to be available at the USPTO site yet. Sounds like a very broad patent in a potentially very significant area. (Current ACE inhibitors are a multi-billion dollar sector). Peter

To: Michael Young who wrote (3007)	2/27/2001 9:54:48 AM
From: Biomaven	Read Replies (2) \| Respond to of 52153

Michael, <<SCIO>> Natrecor estimates of $300-$500 million in peak sales That would of course send SCIO way, way up. It would likely produce profits in the $100m to $200m range (about $2.50 to $5.00 per share) given their favorable marketing deal (a 90%-10% split). However, by going with QTRN as the marketing partner rather than a big pharma, they have likely reduced their peak sales quite a bit. Further, it is tough to change long-established ER practice, and so early sales could be slow. Peter