BLUE HP holding MCLS reports a deal. This is more or less what I was looking for:
>>CHICAGO, Aug. 1 /PRNewswire/ -- MediChem Life Sciences (Nasdaq: MCLS - news), a Chicago-based drug discovery technology and services company, today announced that it has renewed its collaboration with Bristol-Myers Squibb Company (NYSE: BMY - news), a pharmaceutical and related health care products company.
MediChem's medicinal chemistry scientists will use its BLOCKbuilder(TM) program to provide Bristol-Myers Squibb's parallel synthesis teams in Wallingford, Conn., and Princeton, N.J., with unique building blocks, monomers and scaffolds. Financial terms of the collaboration were not disclosed.
MediChem developed its BLOCKbuilder(TM) program for the efficient synthesis of multi-gram quantities of unique building blocks, monomers and scaffolds. MediChem designs and synthesizes building blocks for its clients' parallel synthesis groups to speed up their drug discovery efforts.
``Our BLOCKbuilder(TM) program helps our clients break through bottlenecks,'' said Michael T. Flavin, Ph.D., president and CEO of MediChem. ``With gram-quantities of the right synthetic building blocks in hand, our clients' parallel synthesis programs move more quickly.''
``The MediChem collaboration has accelerated our efforts to expand and further diversify our compound deck,'' said Edward Petrillo, Ph.D., vice president, lead discovery and early discovery chemistry at Bristol-Myers Squibb. ``We have had great results during the first year of the collaboration and we look forward to continuing the relationship.''
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Edit: GNVC reports and updtaes clinical status (rather vaguely):
>>GAITHERSBURG, Md., Aug. 1 /PRNewswire/ -- GenVec, Inc. (Nasdaq: GNVC - news) today announced financial results for its second quarter ended June 30, 2001. For the second quarter ended June 30, 2001, GenVec reported a net loss of $3,757,000 or ($0.21) per share compared to net income of $220,000 or $0.11 per share in the comparable quarter of 2000. For the six months ended June 30, 2001, the Company reported a net loss of $7,033,000 or ($0.39) per share compared to a net loss of $2,116,000 or ($1.19) per share for the comparable six-month period in 2000. Revenues for the second quarter were $2,038,000, compared to $5,190,000 for the same period last year. For the six-month period ended June 30, 2001, the Company reported revenues of $4,075,000, compared to $8,537,000 for the comparable six-month period in 2000. Operating expenses for the second quarter of 2001 increased to $6,202,000 from $5,059,000 in the same period of 2000.
Revenues in the current period were lower than in 2000 as a result of payments received from Pfizer, including a $2 million milestone payment related to the development and successful technology transfer of the manufacturing process for BioBypass® angiogen to Pfizer's manufacturing plant in Dublin, Ireland. This process is being used to produce BioBypass® angiogen clinical materials for possible future Phase III trials. Pfizer is currently conducting Phase II trials with BioBypass® angiogen in two major indications, peripheral vascular disease and coronary artery disease.
Dr. Paul H. Fischer, GenVec's President and Chief Executive Officer commented, ``GenVec is focused on moving its portfolio of innovative product candidates rapidly through development. TNFerade(TM), our lead oncology candidate, is being evaluated in two Phase Ib clinical trials for use in combination with radiation therapy for the treatment of refractory tumors. In our PEDF program for the prevention of blindness, we have now demonstrated substantial activity in preclinical models of macular degeneration and diabetic retinopathy.'' Dr. Fischer added, ``It is important to recognize that GenVec's internal product development efforts are being done in parallel with Pfizer's extensive clinical progress with BioBypass® angiogen. This allows us to speed the development of our broad portfolio of product candidates.''
Jeffrey W. Church, GenVec's Chief Financial Officer commented on the quarter, ``GenVec ended the 2001 second quarter with $38 million in cash and investments. As BioBypass® angiogen advances in the clinic, we have the potential to receive an additional $42 million in clinical milestone payments and a $5 million equity purchase from Pfizer.''
GenVec, Inc. will hold a conference call to provide an update on the Company's progress and to discuss second quarter financial results. The call will be hosted on Wednesday, August 1, 2001 from 9:00 a.m. to 10:00 a.m. Eastern and will include a question and answer session for conference call participants.
To access the live conference call, please dial 877-356-9149 from within the U.S. and Canada, or 706-679-3947 for international callers. Please note, the conference call leader is Dr. Paul H. Fischer. A web cast of the conference call will also be broadcast live on GenVec's web site. If you wish to access the web cast, please visit this site at least five minutes prior to the start of the call and follow instructions at: genvec.com.<<
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Cheers, Tuck |
