To: Marty who wrote (420 ) 5/26/1998 9:01:00 AM From: NeuroInvestment Read Replies (4) | Respond to
In assembling the material for the NI article on NEOT, I spoke with Al Glasky at length,on more than one occasion. His statements to me (made in mid March-late April) were very consistent with the 'clarifications' issued by the Company. At no time did he ever infer anything more than a manufacturing agreement for 082, and he was also far more conservative in his comments re: treatment effects than were ascribed in the reports from Italy. The financing is also clearly an equity based line of credit, and the notion that the identity of the provider is significant holds no credence for me. I think that Al Glasky's inherent personality style is one of enthusiasm and he will have to monitor that as the FDA becomes more salient in the 082 approval process. However, the now expanding hypothesis that this is some kind of scam is unfounded. There are other players involved (McMaster University, the NIH sponsored AD Study Group), which lends more weight to the preliminary support for 082. Heads of R&D for competing biotech companies have also indicated to me their belief that there is some substance to 082, even though the mechanism of action remains ambiguous. It is early on, and ultimately it will be the Phase II data that will be the key for NEOT.
