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Biotech / Medical : STEM -- StemCells, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (235)	4/17/1999 3:58:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 805

Relationship between Millennium Pharm. (MLNM) and CTII (and glowing mention of MLNM in 4/12/99 issue of Barron's). I just received the CTII 1998 annual report and proxy statement. In the proxy statement, I learned that Mark J. Levin (now a director of CTII, and also -- apparently one of the founders of CTII) is currently the Chairman and CEO of MLNM. MLNM is very highly regarded by some (in theory) clever people (see following) : *********************** From 4/12/99 issue of Barron's (interview with Frank Jennings ... Jennings took over the $480 million Oppenheimer Global Growth & Income fund in October 1995, and has steered it to the best five-year record in its Lipper Analytical category, which is global flexible). Q: Onward. A: Millennium Pharmaceuticals is the largest, most important and most powerful company in genetics. It uses genomics and high through-put screening to discover and develop drugs. They already own several patents on genes, and they have multiyear partnerships with a long list of important clients, including Monsanto. Research funding dedicated to Millennium exceeds $1 billion. Last year, Germany's Bayer bought a 14% equity stake in the company and agreed to invest up to $465 million overall. The bottleneck in creating new drugs is having a target for that drug. In other words, you must know which proteins are involved in specific diseases. Millennium has fully integrated the drug-discovery process from genetics to marketing a new product. They are putting together a production line of drug discovery and development. It's a lot like Henry Ford's assembly line for making autos. Q: The stock is around $35. Is the company profitable? A: Not in the normal sense of the word. In any given period, any net income is the difference between research grants received and monies spent. Q: Moving right along ... ************************** So, my point is -- I am happy to find out that in addition to Genentech hoping CTII is around for a while, it sounds like MLNM might also hope that CTII "makes it." Jon.