Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: George Dysert who wrote (1562)	11/3/1998 4:56:00 PM
From: Dr. John M. de Castro	Respond to of 2742

This agreement looks to be pretty much what was agreed to in the letter of intent. I may be missing something, but, there doesn't appear to be any surprises here. It still looks like an awfully good deal for PMC. They get a 3 year test drive for very little cost. Bluestone has got to be very happy. given the stipulation: "7% of the equity and research payments ($133,000 in aggregate fees) to BlueStone should the Company execute definitive agreements with PMC as BlueStone assisted Cistron by introducing the parties. Cistron also would be obligated to pay BlueStone 7% of any license fees or milestone payments PMC may make to Cistron should PMC enter into definitive agreements and exercise its option under such." (Source CIST 10K)" They should receive 7% of $1 million equity and 7% of $.9 million research payments equal to the $133,000 mentioned above and 7% of everything else that come out of this agreement. Amazing deal! John de C

To: George Dysert who wrote (1562)	11/3/1998 4:57:00 PM
From: Rudy Saucillo	Read Replies (4) \| Respond to of 2742

Wow, George. You were really fast on the trigger! :-) Good deal in line with the Letter of Intent. No surprises. Although it's not stated explicitly, PMC bought CIST shares at 75 cents/share. Also, it's clear that PMC will study IL-1b as an adjuvant in a number of different vaccines, not just flu. They will also conduct their own research using IL-1b separately from CIST's inhouse research. It will be interesting to see what else Naismith can pull from his pocket! Rudy