SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?


To: Hippieslayer who wrote (10633)11/1/1997 5:19:00 PM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
Stephen, When LGND went public in 1992 (as LGNDA) Bill Gates took a 9.3% position in LGNDA with the purchase of 600,000 shares for a cost of $7.5 million. 1 share of LGNDA coverted into 1.33 shares of LGND. I think that at the time of the conversion (Spring 1995) Gates (his investment company) sold all or most of his stake in LGND.
Here's one of the related reports:
2/18/93 *Ligand Pharma Investor Is L.P. Of Microsoft's
Gates
(MORE) DOW JONES NEWS 02-18-93
5:06 PM
2/18/93 *Investor Holds 9.3% Cl A Stake In Ligand Pharma
>LGNDA
(MORE) DOW JONES NEWS 02-18-93
4:56 PM
2/18/93 Gates - Ligand Pharma -2-: Holds 600,000 Cl A Shrs
>LGNDA
WASHINGTON -DJ- William H. Gates L.P., a Bothell, Wash.
partnership controlled by the Microsoft Corp. (MSFT) CEO,
holds about a 9.3% stake in Ligand Pharmaceuticals Inc.
(LGNDA) Class A common shares.
In a filing with the Securities and Exchange Commission,
the Gates L.P. and Dominion Income Management Corp., which
does investment management services for the partnership,
said the Gates partnership holds 600,000 Class A shares of
Ligand Pharmaceuticals which were acquired for about $7.5
million. No other details about the acquiring transaction
were included in the filing.
The filing said the purchase was made for investment
reasons.
(END) DOW JONES NEWS 02-18-93
5:21 PM



To: Hippieslayer who wrote (10633)11/2/1997 8:51:00 AM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
Stephen, The Financial Times is coming out with a series on new treatments by Biotechs. The first article came out on Thursday. It also mentions Bill Gates and Biotechs:

The genetic revolution: Gene is out of the
bottle

THURSDAY OCTOBER 30 1997

Clive Cookson and Daniel Green on the progress and implications of the
genetic revolution

Ten years ago, Bill Gates read a book called Molecular Biology of the Gene
by James Watson, co-discoverer of the structure of DNA. Microsoft's
chairman quickly made sure that a slice of his enormous personal wealth was
invested in biotechnology companies. It has taken the rest of the world rather
longer to work out that genetic research is about to make a profound
difference to our lives. Now, after false alarms and false dawns, the revolution
is gathering pace.

Silicon chips that scan your genes, and devices that change them in your body,
are no longer science fiction. They are in research and development in
university and corporate laboratories in Europe and the US. In the US, 180
clinical trials involving changing patients' genes are under way.

"Genetics research will have the most significant effect on our health since the
microbiology revolutions at the end of the 19th century," says John Bell,
Nuffield Professor of Medicine at Oxford University.

And not only on people's health. Genetic advances will bring challenges to the
conduct of life, from employment practices to insurance and lifestyle. Some
companies, for example, may demand genetic tests before offering people
jobs or insurance cover. Others could offer genetic treatments that promise to,
for example, make children taller.

Genetic knowledge will affect the way people see themselves, although quite
how is not clear. We may take a more fatalistic attitude to life, blaming
everything on our genes. Or we may, on the contrary, become aware of the
limits to "genetic predetermination" and see how much freedom of action we
have.

This explosion of genetic research is being fuelled by thousands of scientists
spending billions of dollars of public and private money in hundreds of
laboratories around the world. Their endeavour, known as the Human
Genome Project, is by far the biggest research effort in the history of biology.

Its aim is to work out the structure and sequence of the genome: the DNA that
provides the blueprint for a human being. The loosely co-ordinated
international project was launched in 1990 with a target date for completion of
2005. Unlike most big science projects, it is running more or less on schedule
- partly because the private sector's involvement has been much greater than
originally expected. By 2005 any scientist will be able to read the complete
sequence of 3bn chemical "letters" in the human genome, including an
estimated 80,000 genes, the basic units of heredity.

Doctors and patients will not have to wait that long, however, before genetics
makes a difference. Already several thousand genes are known precisely and
partial information is available on many thousands more. Once the sequence of
a gene is known, a scientist can usually work out what it does, because the
genetic code translates DNA into a protein - the type of molecule that does all
the work in the body, from building muscles to carrying messages between
brain cells.

Knowing how individual genes work, however, is just the start of genomics
and perhaps the sole part of the enterprise that is beyond controversy.
Relatively few people suffer from diseases arising from a single faulty gene,
such as cystic fibrosis (CF) and Huntington's chorea.

To bring genomic discoveries into the medical mainstream and tackle the vast
majority of diseases, scientists will have to find out how large numbers of
genes work together with environmental factors to cause the most common
intractable diseases of modern society: cancer, heart disease, auto-immune
diseases such as arthritis, diabetes and Crohn's, mental illness and
degenerative brain diseases such as Alzheimer's.

The genetic component in these complex chronic diseases varies but it seems
often to be between one-third and two-thirds of the cause. The other part
comes from a variety of other factors including diet, infection - and sheer bad
luck.

The practical application of this kind of knowledge falls into three categories:
diagnosis, treatment and prevention.

Diagnosis
Some diagnostic tests are available now, and hint at what is likely to be
developed over the next few years.

In the UK, for example, the only ones on sale identify carriers of the CF gene;
they are supplied by two private companies, University Diagnostics of London
and Leeds Antenatal Screening Service, at a cost of about œ100 each. The
tests are intended mainly for couples planning to have children. If both parents
are positive, each child has a 25 per cent chance of being born with the
disease; they can follow up with an ante-natal test.

Tests of this sort identify "recessive disorders", in which the disease develops
only when a mutation in a single gene is inherited from both parents. They are
the least controversial type, because a carrier of one defective gene will not
become ill. Even here, however, there may be an adverse psychological effect
- and potential implications for insurance and employment, both for the
individual being tested and their family.

Genetic tests that predict the future health of an individual are more
problematic. These include tests for relatively rare diseases, with a single
mutation as a cause; examples range from Huntington's, a devastating brain
disorder, to inherited high cholesterol levels.

But the most important type of predictive test looks for mutations - or
collections of mutations - that predispose people to develop common diseases
such as cancer, Alzheimer's or heart disease. Early examples of these are
already available, for example, to test women for susceptibility to breast
cancer.

It may seem perverse to take a genetic test when there is no guarantee of
contracting the disease nor an effective treatment. But for people with a
known family history of inherited disease, the knowledge itself may be useful,
says Theresa Marteau, director of the psychology and genetics group at
London's United Medical and Dental Schools. A negative result obviously
brings relief, but a study of people with a 50 per cent risk of getting
Huntington's disease showed that even a positive test could lower stress levels
by reducing uncertainty.

The benefits of testing are clearer when there is something you can do about a
positive result. If a young woman has genetic susceptibility to breast cancer,
she can undergo more frequent screening to detect signs of cancer at an early
stage when it is likely to be cured - or she may take the more extreme step of
having preventive surgery to remove her breasts before cancer appears.

On the other hand, it would be pointless - though technically feasible - to take
a test today for genetic susceptibility to Alzheimer's disease. In the first place,
the inheritance patterns and causation for this form of dementia are not clear
enough for people to know from their family history that they are at high risk.
And, more importantly, there is no known preventive action to reduce the
chance of the disease developing.

The big pharmaceutical and diagnostics companies are so far avoiding the
controversial field of testing for diseases yet to be contracted. They are
concentrating research on genetic tests to discover what type of disease the
patient has, once symptoms have appeared, so that the most appropriate drug
may be prescribed. This field, known as pharmacogenomics, should improve
the treatment of many diseases, from cancers to diabetes.

Already, "gene-chips" are on sale. These are made of silicon, like computer
chips, but as well as the electrical circuits they have fragments of DNA on
them to detect mutations in a gene. A computer provides a read-out when a
mutation is detected. Affymetrix, a Californian company, is already supplying
or working on chips to test for mutations in the BRCA1 and BRCA2 cancer
genes, another cancer gene called p53, and in HIV, the virus that causes Aids.

Treatment
Dozens of biotechnology companies are developing ways of changing genes -
gene therapy - with 180 clinical trials already authorised by the US Food and
Drug Administration. The problem they face is how to get the gene, in the
shape of a specific piece of DNA identified through the Human Genome
Project, into the body's cells in such a way that it produces a protein. Trials so
far have not been very successful, but confidence is high.

"I am convinced that the obstacles facing gene therapy are only technical and
will be overcome," says Ed Scolnick, head of research and development at
Merck, the largest US drugs company.

Prevention
Current trials are designed to change the genes in only a few cells, such as the
lung cells in a CF sufferer. More dramatic is the possibility that sperm and egg
cell genes could be changed, which would affect every cell in the body of
anyone descended from those cells.

Such "germ-line" therapy could prevent diseases but also open the way for
abuses such as parents "designing" their children. So far, scientists, ethical
bodies and governments have lined up to condemn the idea, although critics of
gene therapy argue that new genes targeted at ordinary cells could accidentally
find their way into germ cells.

The consequences of genomics are already upon us. They present
opportunities for unprecedented medical advances. And that will be only the
start.

It is likely that changes over the next decade as a consequence of genetic
knowledge will affect our lives as directly as has the information technology
revolution in the past 10 years.

This is the first in a series on genetics. Later articles will look at the
science involved, the commercial aspects and the ethical and policy
issues raised.



To: Hippieslayer who wrote (10633)11/2/1997 9:13:00 AM
From: Henry Niman  Respond to of 32384
 
Stephen, The Financial Times is online (free registration required):
ft.com
It has carried extensive articles in the past that prominantly mention LGND. One of the articles (published Oct 1, 1996), "Drugs with a message" by Victoria Griffith, describes signal transduction therapy (the sub-heading indicates it "...is hailed as the next big drugs breakthrough....".
As you know, LGND is the leader in signal transduction at both the polypeptide and non-polypeptide hormone level. I don't have an electronic file of the article, and its a fairly long article, but this is how it begins:

"The scientific community is abuzz with talk about a new industry that many predict will reival biotechnology and traditional pharmaceuticals in medical significance: signal transduction therapy. 'This is big - much bigger than gene therapy.' says Richard van den Broek, a senior biotechnology analys at Hambrecht & Quist. 'This is the future of drug discovery.'

The high level of excitement, researchers say, can be measured by increasingly frequent articles on the subject in scientific publications. Already, a number of companies have been formed around signal transduction, most of them within the past few years. Ligand, probably the oldest group in the industry, was established in 1987, followed by Ariad, Tularik, Signel, Sugen, Cadus, Applied Immune Science, Terrapin and others.

Although none has yet launched any products on the market, analysts predict the industry will bear fruit within the next few years. 'I would say we'll see the first drugs in this area by the end of the century,' says David Molowa, a biotechnology researcher at Bear Stearns.

The articlke goes on to describe signal transduction, and mentions that in one sense its not really new because commercial non-polypeptide hormones have been on the market for many years. However, it also mentions that in the past new drugs were discovered through serendipity and now a much more targeted approach can be used. Thus there is no "proof of concept" required. The use of hormone analogs as drugs is well established and the article closes with a ven den Broek quote "This is a powerful new technology." because it combines the traditional approaches of the big pharmas with the rational discovery methods of biotechnology.



To: Hippieslayer who wrote (10633)11/2/1997 9:40:00 AM
From: Henry Niman  Respond to of 32384
 
More recently (Aug 14, 1997) FT came out with another large article by the same author called "Hormonal make-over" with a subtitle "...on the emergence of an important new class of drug."
It begins:

"Hormones are often blamed for everything from bad behavior among adolescents to bad marriages. Yet the public image of these substances, which are released in the body to regulate different funstions, may soon receive a makeover.

Researchers believe hormones might soon emergr as an important new drug class for treating a wide range of illnesses, from obesity to cancer. The first example of this new generation of drugs are poised to be launched over the next few years.

Ligand, a small pharmaceutical group, is pinning its hopes for a new way to control diabetes on a synthetic hormone called Targretin, which has just entered clinical trials. The company is also working on hormonal treatment for various cancers and heart disease.

Eli Lilly, the pharmaceutical group, hopes to have a drug for osteoporosis, the bone disease, on the market soon. The drug, Raloxifene, is based on Lilly's synthetic version of the hormone, oestrogen, and is in Phase III clinical trails, the last step before submission for approval to the US Food and Drug Administration. The company is also studying oestrogen's impact on Alzheimer's disease.

Most scientists believe hormones represent an enormous and relatively untapped source of pharmaceuticals.

'There are probably dozens, if not hundreds of hormones out there that have not even been discovered yet,' says David Mangelsdorf, a researcher at the Howard Hughes Medical Center in Texas.

The article goes on to describe hormones in general as well as a search for more specificity (as with SERMs).

Another large section related to Ligand is:

"Hormones seem to have the largest impact on age-related diseases - heart disease, cancer, diabetes, obesity, Alzheimer's, and osteoporosis are all illnesses that disproportionately affect the elderly. The significance of this relationship is still unclear, but scientists are putting together some theories.

'People seem to be born with a pre-set ability to produce a certain number of hormones,' says Ron Evans, chairman of the California based Salk Institute and a leading hormone expert. 'As we are, we make fewer hormones.' Fewer hormones in turn means lower numbers of certain enzymes, whose absence makes it easy for disease to take hold.

Ligand, for instance, believes that retinoidal hormones are responsible for the production of insulin. As the number of retinoids in the body decreases, diabetes occurs. By replacing retinoidal hormones in the bidy, Ligand theorizes, Targretin can constitute a prevention device.

While it is tempting to see hormones as a potential pharmaceitical fountain of youth, scientists caution that very little is known about their precise impact on the body. 'While aging is probably hormone related, it's unlikely that people will be able to pop a pill that cures all of the ill effects of getting older,' says Mangelsdorf. 'But we mat be able to selctively target age related diseases.'

The belief that there are large numbers of undiscovered hormones, as well as the wide variety of responses each hormone elicits, has created hope that hormones can be used for intervention in many ailments.

Synthetic hormone drugs would be patentable, available in oral form, and likely to be taken for a lifetime."