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

To: sjemmeri who wrote (3945)	6/4/2004 11:48:24 AM
From: scaram(o)uche	Respond to of 4974

Thanks again, Steve. Very good for the sector. Very bad for long-suffering VCs, but, hey, you buy when others are selling. At one point in this thread, I was talking about business cards having been pressed into the palms of CEOs at H&Q, about the rush to put bioprofits to work at just the wrong time. Hilarious, companies that were nowhere near a window were SPLITTING their shares. Private companies! Net worth, on paper, exploded. Those who stayed in the public markets? There were routes through the carnage, if you were quick on your feet. And they have participated in the sector's amazing come back, most bioinvestors made more than whole. Those who took their bubble profits and rode off into the island's sunset? They've wandered back for a party or two, courtesy of biotech. But VCs who invested into the bubble only to weather that liquidity crunch? They're probably glad to get back 30 cents on the buck, if they're diversified.

To: sjemmeri who wrote (3945)	7/16/2004 12:53:19 PM
From: sjemmeri	Read Replies (3) \| Respond to of 4974

Weak IPO pricing for 'tools' co.: 10:58 ET Xenogen IPO prices below range (XGEN) 7.00: Xenogen prices its IPO at $7, below the expected $8 range which had been reduced from $9-$11. The co sells a system of instruments and equipment, software and reagents that improves the productivity and efficiency of the drug discovery process. Its biophotonic IVIS Imaging Systems, living animal models and research services collectively expedite in vivo data collection and analysis, a critical bottleneck in drug discovery. The co genetically engineer cells to emit light and thereby display a chosen tumor, disease, pathogen, organ or biochemical reaction.... A similar IPO priced this week, Phase Forward (PWRD), which sells software for clinical trials. That stock is 23% above its offering price. While biotech/pharma IPOs have been weak this year, perhaps investors draw a distinction with those companies that support the biotech discovery process. XGEN is not profitable and posted sales of $20 mln last year, up 25% yoy. However, Q1 sales were up 86% at $7 mln.... This is a 4.2 mln share deal, led by Thomas Weisel and begins trading today.