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interesting biotech play i discovered in last sat's (may 2) washington post that i suspect will ipo later this year. currently privately held, genvec began ops in 1993 and conducts research on the development of safe, manufacturable gene transfer systems. "lead product candidate, BIOBYPASS angiogen, is designed to induce angiogenesis, or new blood vessel formation, in tissues with inadequate blood flow. BIOBYPASS angiogen is being developed for the treatment of coronary artery disease and peripheral vascular disease. Additionally, the Company is developing product candidates and vector technology in the areas of vascular damage, oncology and neurology." "GenVec is focused on development and commercialization of gene transfer pharmaceuticals utilizing advanced, proprietary gene transfer systems and medically relevant genes. GenVec's therapeutic programs are in the areas of cardiovascular disease, neurological disease, pulmonary disease and cancer." some cursory digging indicates that menlo park, ca-based sierra ventures is one of the vc firms "which focuses its investments on early stage healthcare, information technology-related companies and service businesses. Sierra Ventures manages six venture capital partnerships, which together have more than $400 million of committed capital." their homepage is: vipconsult.com another appears to be arch venture partners (avp), "which invests primarily in companies it co-founds with leading scientists and entrepreneurs, concentrating on bringing to market technological innovations developed from academic and corporate research. The firm manages funds totaling $150 million of investment capital and since 1989 has invested in the founding venture capital round of over 34 companies." archventure.com i hope to post more as i due my homework, particularly financials. anyone out there interested or have insight into this firm or field, please feel free to contribute. Rockville Biotech Company to Go Public By Justin Gillis and Beth Berselli Washington Post Staff Writers Saturday, May 2, 1998 "GenVec Inc., a Rockville [MD] biotechnology company working on ways to grow new blood vessels in hearts and other tissues starved for blood, announced plans to sell stock to the public for the first time. GenVec, the latest among area technology companies to go public, said it would offer at least 2.5 million common shares at an estimated price of $11 to $13 a share. It gave no date for the offering, which will be managed by BancAmerica Robertson Stephens, J.P. Morgan & Co. and Salomon Smith Barney." . . . GenVec is by no means the only company in the field. Numerous competitors have developed and patented other blood vessel growth factors, and it remains to be seen which ones will work best." washingtonpost.com GenVec, Inc. Files Registration Statement for Initial Public Offering Copies of the preliminary prospectus relating to the offering, when available, may be obtained from BancAmerica Robertson Stephens, 555 California Street, Suite 2600, San Francisco, CA 94104, 415-781-9700; J.P. Morgan & Co., 60 Wall Street, New York, NY 10260, 212-483-2323; or Salomon Smith Barney, Inc.; Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 5th Floor, Brooklyn, NY 11220, 718-921-8460. CONTACT: Paul Fischer, President and Chief Executive Officer of GenVec, 301-816-0396; or Rhonda Chiger or Elissa Grabowski, 212-688-6840, both of Dewe Rogerson, for GenVec prnewswire.com | ||||||||||||
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