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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (14054)	2/2/1998 8:53:00 AM
From: CYBERKEN	Read Replies (2) \| Respond to of 32384

Perhaps Ligand's earlier-stage pipeline projects development could be accellerated by new potential alliances. Hopefully the new deals could more easily be made for greater up-front cash payments and better royalty splits-rather than equity sales (even at a premium). Could we see a deal or 2 in the 2nd half that would make the Lilly alliance look like a givaway? At the very least, Ligand should have much more leverage regarding up-front cash. Ligand at this point has shown superiority in 2 aspects of the business: Creating new products to add to it's pipeline, and conducting clinicals rapidly and with little error. Those 2 capabilities could be selling at much greater premiums soon. The prospect of this could affect the stock price before 2H, given the usual caveat that the street has to figure this out. The signposts seem to be getting bigger each day.

To: Henry Niman who wrote (14054)	2/2/1998 9:19:00 AM
From: Henry Niman	Respond to of 32384

When David Faber mentioned genes on chips I thought he said AFFX, but now I think that he was talking about Affymax, which is a wholly owned subsidiary of GLX (but AFFX also works on genes on chips): Affymax Receives Patent for Encoded Combinatorial Library Technology PALO ALTO, Calif., Jan. 13 /PRNewswire/ -- Affymax N.V. announced today that the United States Patent and Trademark Office has granted the company United States Patent No. 5,708,153 containing broad claims that cover Affymax's ESL (Encoded Synthetic Library) technology. ESL technology, based on inventions by William J. Dower, Ronald W. Barrett, and Mark A. Gallop, enables the identification of individual organic compounds from combinatorial libraries containing hundreds to hundreds of thousands of such compounds. Using ESL, a scientist can synthesize a large library of compounds in combinatorial mixtures, attaching tags at each reaction step. When an active compound is found, the tags allow the scientist to readily identify the specific active structure. The Affymax patent, entitled "Methods of Synthesizing Diverse Collections of Tagged Compounds," complements Affymax's other issued patents in this area and further signifies Affymax's leadership position in the field of combinatorial chemistry. "This patent represents a cornerstone for Affymax's technologies, and we are pleased with its broadness and scope," stated Gordon Ringold, Ph.D., CEO and scientific director of Affymax Research Institute. "The claims granted under this patent give Affymax and its parent company, Glaxo Wellcome, a dominant proprietary position in the area of tagged chemical libraries." Affymax N.V., a wholly owned subsidiary of Glaxo Wellcome (NYSE: GLX), is a leader in the emerging field of combinatorial chemistry, providing Glaxo Wellcome with state of the art technology for its efforts in drug discovery. SOURCE Affymax Research Institute -0- 01/13/98 /CONTACT: Lauren L. Stevens of Affymax Research Institute, 650-812-8700/ /Web site: affymax.com (AFMXF GLX) CO: Affymax N.V.; Affymax Research Institute; Glaxo Wellcome ST: California IN: MTC SU: