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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (4172)	4/28/1998 10:30:00 AM
From: Bhag Karamchandani	Read Replies (2) \| Respond to of 6136

OFF TOPIC: Any one know of a single source or site identifying companies with drugs in Phase III trials and /or devices awaiting FDA approval. Thanks in advance.

To: Henry Niman who wrote (4172)	4/29/1998 10:35:00 AM
From: Peter Singleton	Respond to of 6136

Since Henry hasn't posted this here yet, I thought I'd do so for the benefit of those who don't follow the LGND thread (where it was posted this morning). The following an open letter from Dr. Millar to the Financial Times. What's of interest here is his comment that he gives Marimastat a 40% chance of being successful in cancer. Marimastat is of course the MMPI furthest along in the clinic. AGPH has some interesting data (in vitro?) comparing AG3340 with Marimastat, that posit that Marimastat may have a much narrower therapeutic index than 3340, with lower efficacy and greater side effects. If my memory serves me correct, this is based on the extent to which each product inihibits the target MMPs, while avoiding inhibiting other MMPs. BRITISH BIOTECH: Millar discloses motives Dr Andrew Millar, the sacked director of clinical research at British Biotech, yesterday faxed an "open letter" to the Financial Times. It attempts to explain his motives in making a series of damaging disclosures about the company. We reproduce an edited version: "I was never intent on being destructive as is evidenced by my initial, confidential approach to shareholders. There still is a very clear, simple and constructive way ahead for the company. Marimastat (the lead drug of British Biotech) is a very interesting drug which must be researched, but it could take a few years or more before we know whether it works on cancer or not. This is totally at odds with the business plan. This must be changed to safeguard the future of the compound, and therefore the company, its employees and its shareholders. I presently estimate the chance that marimastat is a useful medicine in cancer at about 40 per cent. This is a personal view, but, to my mind, for a drug at this stage, it is a very good prospect. There are other diseases in which it may work and these too look good prospects. Properly managed British Biotech remains a good bet. I am surprised, given what I thought 18 months ago, to say that I fear early data on the anti-pancreatitis drug Zacutex misled us. The current data need to be carefully reviewed and, if incompatible with success, this very expensive project should be shut down and the money spent on something with decent prospects. The employees at British Biotech have had a terrible time over the last few weeks and I apologise for that. If the plans of the company are changed their long-term futures will be much surer and the shareholders' prospects better. There are parts of the company which are clearly extravagant and constructive ways of dealing with them must be found. I originally intended to continue as a full-time employee at British Biotech when I started this process with the shareholders. I would still like to be involved in rebuilding the company and taking it forward, although the exact way in which that can be achieved needs to be defined. I would like to take this opportunity to address some broader issues. I see a need for: regulations that ban the disclosure of detailed clinical results in press releases on unlicensed compounds; compulsory meetings between regulators and drugs companies, at end of phase II drug trials and before the start of phase III trials; an experienced and qualified medical director on the board of all public companies undertaking clinical research. Finally, if you will allow me a little self-indulgence, I would like to say that truth can appear to be painful, but it is a powerful weapon and honesty is an impenetrable armour." British Biotech said yesterday that it was preparing a detailed report for shareholders answering concerns raised by Dr Millar.