International Biotechnol... Share Discussion Threads

[rambutan2] 03/2/2004 15:56

thats the bit i like. its about time one of their ipos came good.

[maxwellsdemon] 03/2/2004 15:47

rambutan,

Edited . I see you noted the debut price

Present price:

[rambutan2] 03/2/2004 15:24

you chopped off the best bit maxwell...

... As Eyetech is now a publicly quoted company, going forward IBT's holding
will be valued based on the mid-market quoted share price. In accordance with IBT's valuation policies, a discount of 25% will be applied to the mid-market quoted price to reflect liquidity constraints on IBT's holding.

(this bit) Based on the initial IPO price of $21 per share, this would equate to a valuation of £6.2m on the preferred stock converted to common. IBT's
Eyetech warrants are in the process of being converted to common stock this
week. Eyetech shares were quoted at $31.42 per share as at close of business last night.

[maxwellsdemon] 03/2/2004 14:46

RNS Number:9543U
Intl. Biotechnology Trust PLC
03 February 2004

FOR IMMEDIATE RELEASE 3 February 2004



To : The London Stock Exchange



International Biotechnology Trust Plc ('IBT') is pleased to announce that

Eyetech Pharmaceuticals Inc.('Eyetech') (ticker - EYET), had an Initial

Public Offering (IPO) on NASDAQ at a price of $21 per share on Friday 30

January 2004. At 31 August 2003, IBT's holding in the company was valued at

the Directors' valuation of #3.2m.

[ben gunn] 24/1/2004 23:04

Update on 10th October.
Only hold FLS (and FER) now. BPRG has too weak a balancesheet.
This month IBT and TBS start to look interesting again....interesting but not exciting.

[mart] 18/12/2003 13:47

Must admit I sold out of these over a month ago. Seems well oversold now. Looking to get back in in the new year once I have some funds from other stuff.

[rambutan2] 13/11/2003 18:46

agm is tomorrow, 3pm gresham st.

latest on eyetech and ipos in general


cancervax (cnvx) floated and quiet start but now starting to pick up a little

[ben gunn] 10/10/2003 19:27

The Amersham effect is not over. I plan to buy IBT,TBS,FLS and BPRG as a core BIO holding. The one that impresses least will be dumped but I doubt that it is IBT.
See some of you chaps at the AGM

[rambutan2] 24/9/2003 19:43

good news from this holding. every little helps...

Adolor (ADLR : NASDAQ : US $19.20)
Net Change: 4.33, % Change: 29.12%, Volume: 9,754,200
"Statistically Significant" Stock of the Day: Adolor jumped higher after
announcing its experimental drug for post-operative constipation met the
main goal of a late-stage clinical trial. The company said patients taking
the drug, Entereg, had a statistically significant improvement in the time
to recovery of their gastrointestinal function after surgery than those
taking a placebo. The drug is being developed in partnership with
GlaxoSmithKline (GSK), which is also examining the potential of developing
a version of the drug for treating less severe constipation associated
with taking painkillers. The current trial is the second of three
late-stage, or Phase III clinical trials needed to win approval for the
drug. Adolor said it expects to complete the third trial and file for
marketing approval in the first half of 2004.

[mart] 23/9/2003 12:49

I'm pretty happy with the progress of this I T. Been debating whether to ISA it for a really long hold.

[rambutan2] 22/9/2003 23:23

results were out today and make a fairly good read...

Summary

• Strong recovery in the biotech market since the lows of July 2002
• Three unquoted IBT portfolio companies, together representing 16% of net
assets (at 31 August 2003), have filed to go public on the NASDAQ, market
conditions permitting
• Net asset value per share rose by 14.5% to 112.8p
• NASDAQ Biotech Index rose 48.1% (sterling adjusted), Merrill Lynch Small
Cap Biotech Index rose by 26.5% (sterling adjusted) and the Bloomberg UK
Biotech Index fell by 5.0%
• The return on IBT's quoted portfolio was 46.4% calculated on a monthly
time-weighted return basis assuming mid-month cash flows, and 29.9% on an
unweighted basis (ignoring the timing of transactions)
• Write-downs of two unquoted companies resulted in a fall in net assets for
the year of £1.4 million or 2.9% of net assets at 31 August 2002
• New investments in seven quoted companies; sales of five quoted companies
• No new unquoted investments; follow-on investments in CancerVax and
Affibody
• Total net assets at 31 August 2003: £53.9million (31 August 2002: £47.9
million)

[rambutan2] 10/9/2003 16:32

The Board of International Biotechnology Trust plc announces that the unaudited
net asset value per share as at Tuesday 9th September 2003 was 117.33 pence.

[rambutan2] 10/9/2003 13:00

follow up on the above...

FDA Panel Recommends Raptiva
By TSC Staff
09/09/2003 06:24 PM EDT

As expected, a Food and Drug Administration panel voted to approve Xoma (XOMA:Nasdaq - commentary - research) and Genentech's (DNA:NYSE - commentary - research) psoriasis drug Raptiva.

The panel voted unanimously in favor of approval. The application will go to the full FDA, which usually follows a panel's recommendation.

If approved as expected, Raptiva will compete with Biogen's (BGEN:Nasdaq - commentary - research) Amevive and Amgen's(AMGN:Nasdaq - commentary - research) Enbrel, which has an application pending.

These drugs are aimed at a yearly market of more than $1 billion among the 1.5 million Americans with moderate to severe psoriasis.

Genentech ended the day higher by $1.03, or 1.2%, to $84.55. Trading was halted in Xoma pending the panel.

[rambutan2] 09/9/2003 14:43

reason for yesterdays rise...
Drug stocks rose after Barron's said the industry had lagged both the S&P
500 and the NASDAQ this year, and that some shares trade at half the
price-to-earnings ratio of technology companies such as Oracle (ORCL).
Merck (MRK), Pfizer (PFE), and Johnson & Johnson (JNJ) all advanced.

also, this a holding...
Xoma (XOMA : NASDAQ : US$9.48)
Net Change: 1.08, % Change: 12.86%, Volume: 4,646,000
Psoriasis drug causing investors to flake out. Trading in biotech firm
Xoma was active ahead of a crucial regulatory review. Xoma and its larger
biotech partner Genentech (DNA) have developed an experimental therapy for
the skin disease psoriasis. A FDA advisory panel is scheduled today to vot
e whether to recommend the drug, called Raptiva, for approval as an
injected treatment for moderate-to-severe psoriasis. Fulcrum Global
Partners recently downgraded the Xoma to a NEUTRAL from BUY, citing
valuation. The firm believes the stock price fully reflects the ultimate
approval of Raptiva.

[rambutan2] 09/9/2003 13:19

news from axxima which one of ours...

[mart] 09/9/2003 10:43

md
Thanks for that. Acceleration or peaking?

[maxwellsdemon] 09/9/2003 08:52

The NASDAQ Bio Index was up 4% yesterday.

[mart] 09/9/2003 08:39

Really strongly out of the box this morning. Something specific? Can't see an RNS.

[rambutan2] 05/9/2003 14:21

obscure investment trusts tend to have a mind of their own. but no worry, at some stage well get the benefit of the discount being pulled in. and perhaps before not too long. i think that the eyetech phase III trials are due to finish before the end of the year. heres a reminder...

Eyetech Completes Patient Enrollment For Two Pivotal Phase III Clinical Trials For Macular Degeneration - Early Completion of Patient Enrollment Triggers $54.2 Million in Funding
Eyetech Pharmaceuticals Wednesday, August 7, 2002  Wednesday, August 07, 2002

New York, NY. August 7, 2002 - Eyetech Pharmaceuticals, Inc., a private biotechnology company focused on the treatment of eye diseases, today announced the early completion of enrollment in two pivotal Phase III trials of Macugen™ (pegaptanib sodium) for the treatment of exudative (wet) age-related macular degeneration (AMD), the leading cause of blindness among Americans over the age of 55. Eyetech enrolled 1,196 patients in the Company's pivotal clinical trials for treating wet AMD, which constitute the largest clinical trial program for wet AMD enrolled to date. By reaching this milestone, the Company received $54.2 million from its Series C investors, representing the second installment of a total in excess of $108 million raised in July 2001.

The clinical trials are being conducted at 117 investigational sites throughout the world to measure vision stabilization and/or improvement associated with Macugen™ (pegaptanib sodium), an aptamer which binds to and neutralizes Vascular Endothelial Growth Factor (VEGF), as a stand-alone treatment, as well as in combination with photodynamic therapy (PDT) for patients eligible for PDT. Eyetech's clinical sites are located in the United States, Canada, South America, Europe, Israel and Australia. The United States Food and Drug Administration (FDA) has granted Macugen™ (pegaptanib sodium) "fast-track" designation for the treatment of exudative (wet) AMD and diabetic macular edema (DME) because of the potential of Macugen™ (pegaptanib sodium) to meet an unmet medical need. Eyetech is also conducting Phase II clinical trials with Macugen™ (pegaptanib sodium) for the treatment of DME.

"We are pleased at having reached this critical enrollment milestone, well ahead of our previously announced target date," said Eyetech's Co-Founder and Chief Executive Officer, David Guyer, M.D. "We are gratified by the high level of enthusiasm and interest among physicians and patients participating in our clinical trials, which is reflected in the rapid enrollment rate. We look forward to completing clinical development of Macugen™ (pegaptanib sodium) and bringing this important product to market to help fight blindness."

"The swiftness with which these trials were enrolled demonstrates a substantial commitment to developing ground-breaking treatments for AMD patients who currently have limited options for treating this disease," said Morton F. Goldberg, M.D., Professor and Chairman of the Department of Ophthalmology at the Johns Hopkins University School of Medicine, Director of the Wilmer Opthalmological Institute, and a member of Eyetech's Scientific Advisory Board.

ABOUT Macugen™ (pegaptanib sodium)

Macugen™ (pegaptanib sodium), formerly known as EYE001, is Eyetech Pharmaceuticals' lead product candidate. The Company acquired the worldwide rights for this anti-VEGF aptamer from Gilead Sciences in March 2000. Currently being investigated as a treatment for exudative (wet) age-related macular degeneration (AMD) and diabetic macular edema (DME), the two leading causes of blindness in the adult population, Macugen™ (pegaptanib sodium) has shown in early clinical trials the ability to inhibit blood vessel growth and stabilize and/or reverse blood vessel leakage and improve vision by 3 lines or more in 26% of patients.

ABOUT WET AMD

The leading cause of irreversible vision loss among Americans over the age of 55, AMD occurs in two different forms: dry AMD and wet AMD. The wet form accounts for 200,000 new cases of bleeding per year with a prevalence of 1.2 million cases in the U.S. alone.

Wet AMD is characterized by the proliferation of abnormal blood vessels into the area beneath the retina. This process, known as angiogenesis or neovascularization, results in fragile blood vessels that leak fluid and blood into the macula, causing damage to the area and resulting in a rapid loss of central vision, which is critical for tasks such as reading, driving, watching television and recognizing faces.

ABOUT DME

The US Centers for Disease Control and Prevention (CDC) estimate that 11 million Americans have diagnosed diabetes, while an additional 6 million have diabetes that has not been diagnosed. DME, which affects approximately 135,000 Americans each year, is the largest cause of blindness-related lost income in working-age adults and is the leading cause of blindness in adults under the age of 55. Decreased vision is the main symptom and results from fluid and lipid leaking from retinal blood vessels. Laser photocoagulation is the only currently recognized therapy, but is not effective in improving visual acuity in most patients with this disorder.

ABOUT EYETECH

Eyetech Pharmaceuticals, Inc., is a privately-held, New York City-based biopharmaceutical company dedicated to development and commercialization of novel drugs to reduce and prevent vision loss caused by eye diseases. Eyetech is also focused on developing new technologies to deliver drugs safely to the back of the eye. The Company has brought together experienced pharmaceutical industry executives and a world-class team of thought-leaders in ophthalmology from leading medical centers and medical schools, such as Harvard Medical School, Stanford, the University of Chicago, Johns Hopkins and Columbia, to build a pre-eminent ophthalmics company.

[21up] 05/9/2003 13:57

I wonder y the share price hasn't gone up in line with the nav?

[rambutan2] 03/9/2003 13:39

discount way toooooooooo big. imho a great buy. also, this (we hold microment)...