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Biotech / Medical : Pharmos (PARS) -- Ignore unavailable to you. Want to Upgrade?

To: Dr. John M. de Castro who wrote (239)	11/23/1998 8:10:00 PM
From: NeuroInvestment	Read Replies (1) \| Respond to of 1386

Interesting point. It does add W-L to the list of possible partners. However, the notion of being terminated 'early' raises a couple of questions. That Phase III for SNX-111 was started in late 1996, and in 2Q:1997 they told me that they had (supposedly) 67 centers enrolling patients for what was to be an 800 pt study. The study was halted for a few months due to questionable risk/benefit, back in July 1997. That they only had 200 pts who had completed a likely 3 month followup at this point, more than 2 years after starting , means they were enrolling very few patients. I suspect that W-L has been letting SNX-111 for TBI dangle slowly in the wind for a while allowing it to die, perhaps meeting some contractural agreement with Neurex/Elan. When I spoke to Paul Goddard (Elan Pharmaceuticals head) two weeks ago, he made reference to the TBI project being entirely in W-L's hands, and sounded quite unenthused about its prospects. I do not think thatW-L suddenly interrupted a trial that was enrolling per original plan just because they became enamored of HU211. However, it does mean they have an already on-line consortium of head injury sites, ready to go in a Phase III for TBI....making them an attractive partner for Pharmos if the terms are right. NeuroInvestment (www.neuroinv.com)