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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (3519)	6/17/2003 2:07:34 AM
From: scaram(o)uche	Respond to of 4974

>> Icos terms << Who would have thought, given 2001-2002, that investors would be throwing money at biotech in June 2003? PDL bought Eos. Was the timing perfect? Or will this hot cash -- now going to the "almost profitable" and "hopefully almost profitable" biotechs -- not rotate on to cash-strapped, private companies? This is just too weird. In October, the investing public had come to the conclusion that there would never be another new medicine. But.... goooooooood...... leverage, and irrational extremes in market value, biotech is the most interesting of rides.

To: Icebrg who wrote (3519)	7/17/2003 7:26:37 AM
From: Icebrg	Read Replies (1) \| Respond to of 4974

Medarex Announces Proposed Convertible Senior Note Offering Thursday July 17, 7:12 am ET [The best thing would of course be to use all the proceeds to retire debt maturing in 2006] PRINCETON, N.J., July 17 /PRNewswire-FirstCall/ Medarex, Inc. (Nasdaq: MEDX - News) announced today that it intends to offer $100 million of Convertible Senior Notes expected to be due in 2010 in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended. These Notes will be convertible into Medarex Common Stock at a price to be determined. The net proceeds from the offering will be used for general corporate purposes. We may also use a portion of the net proceeds to repay a portion of our outstanding indebtedness and to acquire products or companies that further our strategic goals, although we currently have not entered into any agreement relating to any such transactions