To: Coho who wrote (952 ) 5/31/1998 4:57:00 PM From: Sean Janzen Respond to of 1501
Don, It is my belief that IZP is grossly undervalued and could significantly surpass C$4.00 within the next year. Take a look at Signal and Tularik for greater insight into IZP potential value. Signal will go public at US$11-13 with 9.5 million share outstanding. That's a market capitalization of US$104,000 - 123,5000 million. It is my opinion, based on information in the table below, that Signal is a few year behind IZP in its drug discovery programs. SIGNAL'S DRUG DISCOVERY PROGRAMS Signal's drug discovery programs are directed toward autoimmunity and inflammation, bone metabolism, neurological disease, cardiovascular disease, cancer and viral infections, and are summarized in the following table: COMMERCIAL........CURRENT PROGRAM/TARGET.INDICATIONS(1).STATUS(2).RIGHTS(3) - ---------------------- ------------------------------- ------------------ -------------------- <S> <C> <C> <C> AUTOIMMUNITY AND INFLAMMATION AP-1 / NF-kB......................Lead Optimization...Tanabe JNK1 and 2...Rheumatoid Arthritis.Lead Optimization...Signal IKK1 and 2...Osteoarthritis.......Screening....Signal, Ares-Serono p38-2........Allergy..............Screening...........Signal NIK..........Asthma.........Assay Development.Signal,Ares-Serono MEK6.........Inflammatory...Bowel Disease..Assay Development Signal MKK3.........Psoriasis......Assay Development.........Signal JNKK1 and 2..Transplant Rejection.Assay Development...Signal IkB Ligases.................Target Discovery...Signal, Ares-Serono BONE METABOLISM IL-6........Osteoporosis..........Lead Optimization...Signal c-Fos.......Paget's Disease.......Assay Development...Signal Bone Mitogenesis...Bone Repair....Target Discovery....Signal NEUROLOGY PNS..Peripheral Neuropathies.Lead Optimization..ignal, Nippon Kayaku JNK1 and 2..Neurodegeneration....Screening............Signal JNK3........Neurodegeneration....Assay Development....Signal CNS Cell Lines..Neurodegeneration, Stroke, Head Assay Development ................Trauma...........Target Discovery.......Signal PNS Cell Lines..Assay Development/Pain, Incontinence ...............................Target Discovery......Roche Bioscience CNS Genomic Neurodegeneration,Targets............... Psychiatric Diseases............Target Discovery.......Organon CARDIOVASCULAR JNK1 and 2...Ischemia.........Lead Optimization.......Signal IKK1 and 2...Atherosclerosis..Screening.........Signal,Ares-Serono p38-2.......Ischemia..........Screening...............Signal NIK.........Atherosclerosis...Assay Development.Signal,Ares-Serono JNK3........Ischemia..........Assay Development.......Signal MEK6........Ischemia..........Assay Development.......Signal IkB Ligases..Atherosclerosis..Target Discovery...Signal,Ares-Serono Vascular Genomic..............Targets............... Atherosclerosis, Ischemia.......Target Discovery.......Organon CANCER JNK1 and 2.................Lead Optimization.........Signal IL-6.....Lung Cancer.......Lead Optimization.........Signal IKK1 and 2..Breast Cancer..Screening...........Signal, Ares-Serono NIK......Ovarian Cancer....Assay Development...Signal, Ares-Serono JNKK1 and 2..Myeloma.......Assay Development...Signal c-Fos........Leukemia......Assay Development...Signal IkB Ligases................Target Discovery....Signal, Ares-Serono VIROLOGY Various..Hepatitis C Virus.Assay Development...Signal, DuPont Merck Various..Human Immunodeficiency Virus .............................Assay Development...Signal, DuPont Merck ICP4....Herpes Simplex Virus (Types 1, 2) .................................Screening.......Signal IE86...Cytomegalovirus.........Screening.......Signal E2.....Human Papillomavirus....Screening.......Signal - ------------------------------ (1) All diseases referenced by brackets are potential clinical indications for each target listed in the respective therapeutic program. (2) LEAD OPTIMIZATION indicates that Signal and/or its pharmaceutical partners are applying combinatorial and computational chemistry, as well as structure-based drug design, to enhance the potency, selectivity, bioavailability, safety and other pharmaceutical properties of active compounds. SCREENING indicates that Signal is testing libraries of organic small molecules and natural products in biochemical and/or cell-based assays to identify compounds which either inhibit or induce activation of a drug target. ASSAY DEVELOPMENT indicates that Signal is creating biochemical and/or cell-based in vitro assays which incorporate a specific drug target and are used to identify compounds which regulate the drug target. TARGET DISCOVERY indicates that Signal is identifying new disease-related genes and their protein products, cloning and characterizing novel enzymes and other proteins which regulate activation of disease-related genes and is validating the utility of these regulatory proteins as drug targets. (3) See "--Research and Development Partners."