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Biotech / Medical : VXCL VAXCEL INC -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (1)	5/7/1998 10:12:00 AM
From: xclently	Respond to of 22

Further details on the Cancer Vaccine. In March 1998, Vaxcel, executed a definitive license agreement with UCL for acquiring worldwide, exclusive rights to genetically engineered and mutated (beta)-Human Chorionic Gonadotropin ((beta)hCG) proteins for use in the treatment and/or prevention of cancer. Vaxcel believes these genetically engineered and mutated (beta)hCG proteins should be excellent immunogens for the development of a therapeutic vaccine for a wide variety of cancers. Except for pregnant women, healthy individuals do not normally produce (beta)hCG. However, significant quantities of (beta)hCG are produced by many different types of cancers including pancreatic, colorectal, breast, lung, prostate, and others. The highest concentrations of (beta)hCG are secreted by cancers which have metastasized. Research has indicated that cancer cells may use (beta)hCG as one of the mechanisms to resist being attacked and killed by the human immune system. By combining these genetically engineered and mutated (beta)hCG proteins from UCL with the Company's Optivax adjuvant, Vaxcel believes that both the antigen and adjuvant components of this cancer vaccine should be superior to a first generation (beta)hCG vaccine being developed with some encouraging results by a third party. The genetically engineered and mutated (beta)hCG proteins should be more immunogenic than the first generation vaccine and the inclusion of the Optivax adjuvant in the vaccine formulation should help augment anti-tumor cellular immune responses.

To: Joe Copia who wrote (1)	5/7/1998 12:08:00 PM
From: xclently	Read Replies (1) \| Respond to of 22

Would CYTR consider selling VXCL ? Review of CytRx's SEC filings show that recent events seem to indicate that they are concentrating their efforts and their cash on FLOCOR, their flagship drug. They have been successful at selling off assets determined to be non-core. This could be beneficial because it could put somebody behind the research and licensing who could concentrate full efforts and realize the potential of these products. With their 87% interest and former Zynaxis holders with over 10%, it would seem that they would have a vested interest and an obligation (to ex-Zynaxis holders) to maximize return... (preceding IMO--what follows is from CYRT's 8-k, filed 5-1-98) Recent transactions:On February 16, 1998, the Company consummated a sale of substantially all of the assets of Proceutics other than real estate to Oread Laboratories, Inc. ("Oread") for approximately $2.1 million. Sale of VetLife On April 17, 1998, the Company and VetLife, entered into an Acquisition Agreement with VL LLC pursuant to which VL LLC acquired substantially all of VetLife's Assets for a total purchase price consisting of: (i) a cash payment of $3,500,000, subject to certain working capital adjustments, (ii) an unsecured, subordinated promissory note in the principal amount of $4,000,000 bearing interest at a annual rate of 12%, and (iii) certain contingent payments based on future sales of specified products of VL LLC and its affiliates that, if made in full, could total up to $5,500,000. The sale of the Assets closed on the same day. The Company will retain the $5.3 million in investing that were pledged to secure a letter of credit (See Note 2). The Company expects a gain related to this transaction which will be recognized in 1998.