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Biotech / Medical : T/FIF Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: mike head who wrote (94)	9/8/1998 7:47:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 1073

Mike: The question is relevant to BTRN/MEDI and anti-CD2 for psoriasis, so it belongs in this thread. I asked one friend who thought that the project was headed to a slow death, and another who said that GNE is anxiously awaiting data. So, take the mean and you've got "I haven't a clue". Furthermore, I've been frustrated trying to find out what Repligen's royalty stream might be. I have been told that the royalty level was made public, but I can't find it anywhere, and GNE has this [damn] policy of not commenting. Would XOMA derive any sales-related revenue from the project? Here are excerpts from the last 10-K..... In April 1996, XOMA and Genentech entered into an agreement whereby XOMA agreed to co-develop Genentech's humanized monoclonal antibody product, originally called anti-CD11a. Under the terms of the agreement Genentech purchased 1.5 million shares of XOMA common stock at $5.90/share and is funding development through Phase II by making a series of convertible subordinated loans. XOMA is manufacturing the product, now called hu1124, for clinical trial use and managing clinical trials through Phase II. In April and December 1996 respectively, Genentech loaned $5.0 million and $8.5 million to fund 1996 and 1997 development costs. In December 1997, Genentech loaned an additional $10.0 million to fund 1998 development costs. [and] XOMA is also developing the hu1124 humanized monoclonal antibody product under a collaboration agreement with Genentech. The product is in Phase II clinical testing for psoriasis. Other indications are under review. Genentech is providing funding for development and clinical trials through a series of long-term convertible loans.