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

To: Scott H. Davis who wrote (521)	4/8/2001 11:11:17 PM
From: Miljenko Zuanic	Respond to of 3559

From BC (Thanks R), so it is Serono CEO who was Anchor. Not bad taste, imo. Miljenko Anchors away Regeneron (REGN) inched up $0.125 to $22.313 on the week after disclosing that the anchor investor in the company’s$162.5 million follow-on was Feldon Invest, a Panamanian stock company controlled by Ernesto Bertarelli, CEO of Serono (SWX:SEO; SRA). The fund purchased 4 million shares of the 6.5 million share offering, giving it a 9.8% stake in REGN. Scuttlebutt is that Bertarelli is putting some of his fortune to work to support development of protein therapeutics, which is SEO’s strong suit. Bertarelli gained some liquidity last year when the family raised $1 billion through the sale of SEO shares that were sold concurrent with the company’s July 2000 American Depositary Share offering. Bertarelli still owns 58.7% of SEO, a stake that is valued at $10.5 billion using the company’s market cap of $18.1 billion on Friday. REGN is developing protein-based and small molecule drugs for obesity, muscle atrophy and other disorders. SEO focuses on reproductive health, multiple sclerosis and growth and metabolism disorders, but it was careful to distance itself from Bertarelli’s investment. SEO spokesperson Susan Ince told Ebb & Flow that the transaction was a “personal investment,” and therefore should not imply that SEO is keen on getting access to REGN’s technologies or pipeline compounds. REGN declined to comment.