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

To: David Cathcart who wrote (866)	3/27/1998 6:43:00 PM
From: seminole	Respond to of 1826

David and Bear I have been having server/computer problems when I try to reply. The value for the Euro deal will be strongly dependent upon the results from Phase I. They are not just trying to get an Euro parnter. They are trying to get both an Euro partner and a partner to pay for Phase II clinical trials. The partner is going to want to see clinical data. The strengh of the clinical data may set the price of the deal. I have no useful knowledge of their clinical data so I can't truly set a price. But I would want $5M up front for the Phase II clinical trials. When I dream of what the Euro deal may be worth I come up with $30-60M. richard

To: David Cathcart who wrote (866)	3/27/1998 7:02:00 PM
From: seminole	Respond to of 1826

David I believe these references for the AACR meeting are significant. The addition of leukemia cell lines will provide flexablity in selection of studies for Phase II. The combination results are more important. These result will help protect our backside if things go poorly during Phase II. I EXPECT THE BEST RESULTs (ITS DA BOMB) but the synergy data gives the company alternatives if problems develope (this may be Blitzer being prudent). Oh boy, I never though I would be reporting on a less risky alternative. I got my lucky HMAF t-shirt on richard