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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (87)	1/26/1999 12:53:00 AM
From: Larry Liebman	Read Replies (1) \| Respond to of 3158

One of a number of "quiet" companies advancing molecules through the clinic. Based on lack of substantial volume, I would include ALXN, LKST, VICL, and SUGN- along with the aforementioned SNAP. All are rather thinly traded. If I were AMGN and wanted an oncology franchise I would size up SUGN.

To: scaram(o)uche who wrote (87)	1/26/1999 9:39:00 AM
From: Biomaven	Respond to of 3158

Rick, SNAP has 3 molecules being developed by Lilly for depression. All hit different (but undisclosed) serotonin subtypes. One is in Phase I, the other two in "late preclinical." Comments from SEPR about their "Prozac II" deal with Lilly imply that their Prozac isomer combines well with other more specific serotonin reuptake inhibitors that Lilly is working on. Ultimately, I wouldn't be surprised to see an individualized cocktail of narrow SSRI's for each patient. I could easily see Lilly grabbing them if Lilly figures out SNAP has something good in their serotonin properties. (Lilly probably has a much better shot at figuring this out than SNAP itself). Here's their release on the Merck program: "Since December 1, 1993, Synaptic Pharmaceutical Corporation(the "Company") has been collaborating with Merck & Co., Inc. "Merck"), on a drug discovery program to develop alpha 1a adrenergic antagonists for the treatment of benign prostatic hyperplasia "BPH"). The collaboration was due to expire on November 30, 1998. However, the Company has agreed to provide Merck with a minimal level of continued scientific support for an additional three-month period. A compound identified as part of the collaboration is currently being studied by Merck in humans for its effectiveness in treating BPH. Other compounds selected by Merck in connection with the collaboration are undergoing early or late preclinical testing." I own a little SNAP, but am somewhat concerned that their burn rate will increase now that all their partners have "taken their molecules and run." They still have plenty of cash, though. MRK certainly has a mighty thin pipeline now. They're so big that gobbling smaller biotechs isn't going to make any noticeable difference to them. They'd have to grab Amgen or Biogen, neither of which is exactly cheap right now, to make a difference. Or they might go for one of the smaller pharmas, like Forest Labs, which has a great new antidepressant just on the market. Peter