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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Cheryl Galt who wrote (25682)	9/23/1998 7:56:00 AM
From: jayhawk969	Read Replies (1) \| Respond to of 32384

Cheryl, For your notebook: (this should go well with your cup of coffee this morning) PP. 108 Seragen Proxy/Prospectus 7/14/98 Manufacturing The manufacturing of Seragen's Fusion Proteins originates at the genetic level. First, genes that direct production of the toxic and translocation domains of the diptheria toxin molecule are fused with genes that direct production of the desired receptor targeting domain to create a new,recombinant gene. The recombinant gene is then placed in a strain of bacteria(E. Coli) which is grown by fermentation using standard biotechnology techniques. During fermentation, the recombinant gene is expressed in the bacteria resulting in the production of Fusion Proteins. the fusion protein is then extracted from the bacteria and purified. Since Fusion Proteins are produced in recombinant bacteria using well established technology, Seragen believes that its Fusion Proteins can be produced in commercial quantities. To date Seragen has produced all of its Fusion Proteins in the laboratory and has produced its IL-2 Fusion Proteins and EGF Fusion Protein in manufacturing facilities previously owned by it and now owned and operated by Marathon. Manufacturing facilities utilized by Seragen's products are operated in accordance with cGMP. .........In order for this manufacturing facility to produce material that can be marketed, it must be inspected and licensed by the FDA. Seragen reguarly contracts with a variety of firms for certain quality control testing and fill-finish services, some of which services are essential to Seragen. As of July 1 1998, Lilly is Seragen's fill/finish contractor. Generally these agreements may be terminated at any time by any of the parties. 27,273,857 outstanding common shares as of March 31, 1998. 354,926 Series D preferred outstanding as of March 31, 1998. 23,800,000 Series B preferred outstanding as of March 31, 1998. ($23,800,000 liquidation preference) J.D.