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

To: James Silverman who wrote (10)	2/2/1998 5:36:00 PM
From: scaram(o)uche	Read Replies (2) \| Respond to of 4974

Jim: Lampert seems to show up where the science is sound and the business plan has potential leverage. I suspect that he has somebody with decent InCyte advising him. Even with his recent lumps (ARRS ---> AXPH and NRGN among them), he's largely in companies where there was an early interest in platforms. I bailed (pure luck) from NRGN when their HTS partner, SAIC, left the business. Nonetheless, as for AXPH, I keep an eye on it. I know damn well that it's wise to watch where he's putting his money, and I suspect that it's even wiser to see when he's taken a hit and to evaluate the long-term health of the "hitter". I didn't even know that he was a hedge fund manager until I saw the Barron's article. I suspect that he'll garner an increasing percentage of investor's funds as we move into a realization that market caps don't approximate, for many companies, their potential to participate in the future world of pharma. RGEN is an interesting little company that we should all watch and study going forward. It's been a dead money investment for me and I have doubts about the wisdom behind the angiogenesis target (hope they're not well-founded!), so I don't recommend them as a buy. However, it's an example of a company where Aries/Paramount landed first and that Lampert subsequently took a stake in. I was nervous, at first, investing in a Aries company, but, when I looked at the business plan, I considered it unlikely that Rosenwald et al. could gain control. It was great, later, to see my investment followed by Lampert. Thanks for the link. With documentation, any "win-win" innovative financing deals, where Joe Public only gets a "win-lose" choice near-term, are welcome in this thread. An aside.... I've talked with RGEN management, and they say that Aries has been very supportive. An analyst that I respect also says that they are good to their companies. The intent of this thread is to give Joe Public a fair view toward profit, not to judge whether any given blindside was ethical. Let's play with smart money. Very interesting day out there in biotech land! Rick