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Biotech / Medical : DPII: Discovery Partners Int'l -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (47)	2/21/2006 10:20:23 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 111

Year end bottom line: Cash, cash equivalents and short-term investments at December 31, 2005 were $83.5 million. 2006 burn: "the Company projects to utilize between $12 million and $14 million of cash and to end 2006 with a net cash balance in excess of $70 million" Notes--I am listening in, ooof, this sounds awfully depressing--I don't want to get dragged down by these guys while I'm on graveyards, ha! Happily, the script is embedded in the SEC filing. Here are a few snippets: To enhance our ability to identify novel compounds in high- throughput screening, we acquired the assets of Biofrontera AG in the field of natural products, which secured for us a large library of purified natural products highly complementary to our synthetic compound screening libraries. We believe this combined synthetic and natural product compound library to be unique and highly competitive with screening libraries at pharma companies, and to be a major asset for DPI. In this past year, we also inaugurated our compound management facility sponsored under our contract with the National Institutes of Health as part of the new NIH chemo genomic “Roadmap” initiative. DPI’s core storage facility will select, manage and curate a compound collection of up to one million compounds, and has already begun to provide samples to the nine national screening centers that have been selected to participate. During the year, we continued to work with companies worldwide in all aspects of drug discovery research. We sustained collaborations with Allergan, Actelion, Renovis, Japan Tobacco, and TargeGen, and initiated new relationships with partners including Ono Pharmaceuticals, Tanabe, Achaogen, Mitsubishi Pharma and Chroma Therapeutics. We also received milestone payments from discovery relationships including Allergan and Seikagaku Corporation. Q&A starts at 22:45 in the audio file, just one question which came from "Maple Hill Capital Management." The answer was satifactory for me and begins at 22:55, so there is only 30 seconds you need to listen to... Clearly, DPII would like to combine what they are now with "acknowledged, well-vetted clinical development assets" So, I think we see this merge with something in the next couple years--obviously if they go slow and careful they ought to find something out there. I certainly am happy with my position--the waiting game continues, which I am getting good at.