Hi Tatrader, I think you sold out on the dip. Suggest you think about getting back in. Company is doing everything right on a non-hype basis, which is unusual for a bio. this is from Yahoo but hopefully is accurate.
GENETIC ENGINEERING NEWS REPORTS BIOTECH TARGETING DISEASES IN THE DEVELOPING WORLD BUSINESS EDITORS/HEALTH/MEDICAL WRITERS BIOWIRE2K LARCHMONT, N.Y.--(BUSINESS WIRE)--JAN. 28, 2003--BIOTECHNOLOGY
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09:06 ET LARCHMONT, N.Y.--(BUSINESS WIRE)--Jan. 28, 2003--Biotechnology
companies are trying to forge research partnerships to develop drugs
for diseases that afflict the developing world, reports Genetic
Engineering News (GEN).
The goal is to tackle malaria, tuberculosis, typhoid,
leishmaniasis, sleeping sickness, cholera, dengue fever, river
blindness, HIV, and other diseases, according to the January 15 issue
of GEN (www.genengnews.com).
"A number of the diseases that are devastating the poorer
countries around the globe are of plague proportions," says John
Sterling, editor-in-chief of GEN. "Biotechnology offers hope that the
medical needs of the people suffering in these countries can be
addressed."
Under the sponsorship of the Biotechnology Industry Organization
and the Bill & Melinda Gates Foundation, biotech firms recently met
with members of government agencies, foundations, and nongovernmental
organizations in Washington, DC.
"Many biotechs currently have proven technology and compounds
ready for late-stage development, but lack funding to bring them
through the pipeline and to those that need them. The message of the
meeting was that funding from foundations, the government, and
not-for-profit groups is available," continues Sterling.
For example, Advanced Life Sciences has a partnership with the
National Cancer Institute, Harvard University, and the Sarawak
government in Malaysia that has resulted in the discovery of a number
of plant-based products with antiviral and antibacterial activity that
are now entering the clinic. Companies such as Corixa (Nasdaq:CRXA.Q),
Avant Immunotherapeutics (Nasdaq:AVAN.Q), and Maxygen (Nasdaq:Maxy) are
applying their technology platforms to one or more drugs for diseases
like TB and malaria, in addition to more traditional targets of
cancer, inflammation, and autoimmune disease. AlphaVax is developing
viral vector vaccines for HIV, malaria, Marburg virus, other
pathogens, and cancer.
Maxygen has out-licensed its gp100 HIV vaccine to the
International AIDS Vaccine Initiative (IAVI) for testing in Africa and
Asia. For dengue, Maxygen is developing Maxy-1500m, for which it has
retained all rights. The company recently announced that it seeks a
partner for GMP manufacturing and trials. Corixa will begin human
trials this year of vaccines against leishmaniasis and TB.
Immtech International (Nasdaq:IMMT.U) is focusing on African
trypanosomiasis (sleeping sickness), malaria, fungal infections,
leishmaniasis, and Pneumocystis carinii pneumonia. For needle-free
immunization, Iomai () is developing skin-patch technology for HIV,
anthrax, H. pylori, and cancer.
"Killer diseases in the developing world are not only a major
humanitarian concern but they have economic and political implications
as well," notes Sterling. "In many instances, as is the case with AIDS
in Africa, those with the disease represent the economic backbone of
some societies. If we do not make a greater effort to help these
people, economic and political instability will follow in the wake of
the deaths of millions of people."
Genetic Engineering News is published 21 times a year by Mary Ann
Liebert, Inc. For a copy of the magazine, please call 914-834-3100,
ext. 623, or email: ebicovny@liebertpub.com
--30--AK/at*
CONTACT: Genetic Engineering News
John Sterling, 914/834-3880 |
