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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Steve Harmon who wrote (1381)	8/28/1998 5:48:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 2742

If I gave you Connaught, covering all indications and expression modes, for $0 up-front, $0 development costs, and 15% royalties, would you be ga-ga over the deal? Again, when I talked with Naismith, I was left with the impression that he didn't know about the Levy work. That work is now two years old and very stale. To be handing out kudos here is pure garbage. These guys didn't get the job done. If they can rally and save a bit of our collective asses, great. BTW.... I gave up on trying to arrange a deal a few weeks ago, and I wrote the company, Jenner BioTherapeutics, that I had talked to about CIST (without disclosing the company name). I gave them Brucie's name and phone number. This would not be a partner... it's the only sane concept that should be put on the table.... Jenner would be merged into CIST. CIST would be the surviving company, managed by Jenner personnel. Galton could go twiddle thumbs somewhere else. You find a company with antigens but no money. You merge it with a company that has money and an adjuvant, but no antigen. On the side, you look to collaborate with someone that can "stealth" and target toxic molecules. Is that concept so damned difficult to grasp? Everyone, including insiders holding options, comes out smiling. The shareholders end up with a company that has a market cap of $40 million. Was this possible 1/97? Yes. Is this concept viable now? Probably not. The thought that Galton could manage a research company and adjuvant-related studies is, IMO, hilarious. Either an IL-1beta sequence works as a genetic adjuvant, or the company has to wait for another indication to come along. Wound healing and IL-1? Yeah, that's a fresh concept. IMO, Galton almost killed this company through a lack of aggressive action and through relative ignorance of his opportunities. In the correct hands (I've been posting leads for ages in this thread), the adjuvant studies could have brought in BIG funding. Give accolades all you want. It's pure bull. These guys didn't get the job done in a timely fashion, and, as a result, the potential value of the patents has been cut to a fraction of what it could have been. 21 months for this.