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

To: Flagrante Delictu who wrote (15875)	2/25/1998 2:42:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Bernie, I think that the term "compounds" is more important the term "partnership". Based on the timing, I assumed that last night's announcement was the one you had referenced. However, this seems more to do with the GLYC technology rather than compounds. There were several specific compounds that were being developed by Sankyo. The compounds still need to be developed. My read of the press release suggests that CYTL is merely non-exclusively licensing patents. Although the patents relate to GLYC compounds (and the structurally related CYTL compounds), the agreement does not involve the GLYC compounds themselves. Moreover, since the patents were licensed on a non-exclusive basis, they could also accompany the GLYC compounds which would be developed by a third party. For most of the compounds, additional trials would be required. I don't think that CYTL has the resources to develop the GLYC compounds in addition to there own, such as Cylaxin. Thus, I think that LGND is still looking for a partner to develop the GLYC compounds, but I'm not sure about the timing.