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Gold/Mining/Energy : Gensci Regeneration Sciences Inc. (GNS) -- Ignore unavailable to you. Want to Upgrade?

To: Edward W. Richmond who wrote (157)	4/11/1999 6:49:00 PM
From: Jose Kranz	Read Replies (1) \| Respond to of 225

Hello All, Enclosed below is the article from the Globe and Mail. I think Gensci will be turning a profit in six months (hopefully the third quarter). So therefore, the year 2000 will be our first profitable year. I think that is basically the time frame that Dr. Trotman is talking about and confirms IR projections. 6 months plus 12 months = 18 months!!!!! We are doing beyond expectations with 2.5 m in March. Let's create some positive energy for a revival in small cap biotech firms. THINK - GENSI.COM :-) Keep the faith...... Jose' =================================================================== Riskcapitalinvestment Risk capital investment boosts bone biotech firm GenSci Regeneration Sciences' injection Friday, April 9, 1999 Dawn Walton Toronto -- in In 1992, Vancouver-area family medicine practitioner James Trotman and a colleague poured $50,000 into a small firm developing a product aimed at helping human bones regenerate. The Seattle-based biotechnology venture was working on a demineralized human bone powder that could mean the end to painful hip surgery for some patients. This surgery is commonly required to harvest the bone needed to perform procedures such as spinal fusions or knee reconstructions. "Traditionally, you would have hardware where you would use pins and screws . . . However, the thought of being able to use something that is biological that would grow bones is extremely appealing." Dr. Trotman and his colleague also promised to raise another $1-million within a year. "It was visionary at the time, [the investment] was extremely high risk and I probably had brown hair," says Dr. Trotman, his coiffure now a distinguished grey. Dr. Trotman is now chairman and chief executive officer of publicly traded GenSci Regeneration Sciences Inc. of Mississauga, a biotech company that has found support among venture capitalists. Last year, GenSci received a $6.5-million investment from CI Covington Fund, MDS Capital Corp. and Royal Bank Capital Corp. This injection is included in a roundup of disclosed risk capital deals of $2-million or more compiled by Macdonald & Associates Ltd. of Toronto. Dr. Trotman, who works out of GenSci's U.S. division in Irvine, Calif., has relied on outside investment to help transform the venture from a pure research and development firm into a integrated commercial biotechnology company. He hopes the $13-million in net investments GenSci captured last year will help the company take a bigger bite out of the global orthopedic and dental market for bone and tissue regeneration products, which was valued at $6.4-billion (U.S.) in 1997. The U.S. grafting market alone is valued at $600-million, he says. In 1998, GenSci reported $16.3-million (Canadian) in sales, and last month alone, Dr. Trotman says, its revenue was $2.5-million. Its bone grafting product has been used on about 20,000 patients and in more than 950 North American hospitals. GenSci's pharmaceutical division is developing products to treat and diagnose osteoporosis, which causes bone mass and strength to deteriorate. GenSci has yet to turn a profit, but Dr. Trotman predicts that will change in about a year and a half.