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Biotech / Medical : Shaman Pharmaceuticals has been moving on big, relative, -- Ignore unavailable to you. Want to Upgrade?

To: Don Hess who wrote (329)	12/13/1998 12:24:00 AM
From: Daniel Shaffer	Read Replies (1) \| Respond to of 838

"Dietary Supplements": It's About Time!! Well, Shaman has finally seen the light. I argued on this thread over a year ago (and to Lisa Conte on the telephone) that Shaman needed to be more entrepreneurial and look around in its data base to see what it could quickly bring to market to generate cash that didn't require FDA approval. Now maybe SHMN, whose stock I bought at $9.75 per share in 1994, may actually survive to benefit the traditional healers of this world. Thanks, Lisa! Better late than too late! You should put me on your Board. Shaman Announces Creation of New Dietary Supplement Subsidiary -- Shaman Botanicals, Inc. SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Dec. 10, 1998-- Shaman Pharmaceuticals, Inc. (Nasdaq:SHMN) announced today the creation of a new, wholly-owned subsidiary to identify, develop and market botanicals as dietary supplements. The subsidiary will be called Shaman Botanicals, Inc. Lisa Conte, president and chief executive officer said, "The idea for Shaman Botanicals is to fully leverage the investment we've made in identifying and investigating a huge library of botanicals by optimizing their development for either the pharmaceutical or dietary supplement market based on each individual plant's attributes and targeted use. "It is also an opportunity for Shaman to respond to and participate in the changing healthcare environment in which complementary medicine and dietary supplements now play an ever expanding role. The sale of these botanical dietary supplements provides a readily available revenue source that can be used to fund projects throughout Shaman, and provides diversification to contribute to the financial stability of Shaman." Members of Shaman's Scientific Strategy Team (SST), including ethnobotanists Dr. James Duke, author of the now classic Green Pharmacy, and Dr. Mark Plotkin, founder of the not-for-profit Ethnobiology and Conservation Team who was named one of TIME magazine's "Heroes of the Planet" commented, "Pursuing dietary supplements backed by quality scientific research is a logical extension of Shaman's original concept -- to pursue the best of traditional botanical knowledge, apply the rigor of modern science, and make it available to Western cultures." Loren Israelsen, President of LDI Group, a dietary supplement industry consulting firm, and one of the drafters of the Dietary Supplement Health and Education Act of 1994 (DSHEA) agrees, "At a time when both the American consumer and healthcare professional are rediscovering the value of botanicals, Shaman Botanicals is positioned to apply a level of scientific expertise to the US market which has traditionally been found only in European phytomedicine companies." Conte also commented, "We see the formation of Shaman Botanicals as a complement to our on-going pharmaceutical business. We remain on track to report our Phase III results of Provir for the treatment of diarrhea in people with AIDS by the end of the year, and with success we intend to pursue an NDA filing in early 1999. We have already received 'fast-track' designation from the FDA for this indication based upon this great unmet medical need."