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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer -- Ignore unavailable to you. Want to Upgrade?

To: Russian Bear who wrote (862)	3/27/1998 1:56:00 PM
From: David Cathcart	Read Replies (1) \| Respond to of 1826

Bear, Your questions were primarily aimed at Richard so I will just throw in a couple of cents worth. My comments are essentially Blitzer's comments from the December presentation and the conference call last month. If this is repetitious from my previous posts...sorry. <<1. Do you suppose MGI will licence only European rights, or all non-US (and, presumably, non-Canadian) rights, to 114?>> In December Blitzer said negotiations were underway with several companies for a "European" partner during the presentation. There was no mention at that time of any other area being negotiated. During the conference call last month, he mentioned "international" partner. One could interpret this to mean that areas in addition to Europe are now being discussed. Japan of course is already under contract with Dianippon. <<2. Full Phase II and III cost-bearing by the partner?>> During the presentation in December, someone asked the CFO, Bill Brown, if all phase II costs could be covered by the combination of the NCI and the international partners (at that time assuming Europe and Japan). Bill Brown hesitated and looked at Blitzer. Blitzer paused and looked at everyone in the room and said "yes." He then went on to say that they would retain full U.S. rights until the end of phase II, at which time they will have a much better idea of the potential of MGI 114. So, I think we only need to concern ourselves with funding phase II. The future funding requirements beyond that time will be largely dependent on the results in phase II. I don't know enough about the pharma industry to comment on questions three and four. I can only say that we will be in the hands of Blitzer's knowledge and negotiating skills to work the best deal possible. He has had extensive experience and success in that area. David