============================: THU.FEB,990225 :============================
JackLuchese ( ex - J&J Roror ) : Biopharm . CytRx Corp : w/i 2 yr of mkting
 product . ( w Mark Reynolds ) in faze 3 pivitol trial .
 High value Human theraputics . FLOCOR sickle cell disease .
  100M$ % yr  US mkt potential | .9 margin .
 Long Strong Patents .  ( < 2015 )
 15M$ Cash  |  vs value .
 Chmn : Max Link PhD : Corange Sandos Ciba-Geigy
 FLOCOR(tm) Poloxamer 188   surficant .
  for acute vascular occlusive episodes : IV administration  .
  Improves bloodflow .  like waxing car . anywhere blood is not flowing .
  African , Mediteranian .
 48 hr apply on crisis  : need for pain reduction down 4.3x
 Pain intensity  -.4
 Primary endpoint : reduce Crisis Duration  - days of hospitalization .
 Reached mid point of Faez3 study . > 112 patients in 45 cities
 Contract to produce w Abbott which is also handling  FDA etc  paper work .
 Blood cells must be deformable . Sickle cells deformed , rigid , sticky .
  Cause : spleen obstruction in 2yr old babys .
  Progressive decrease in renal & Pulmonary fn .
  Joint pain .  - leg ulcers .  | 25 yr less life span .
 Obstruction of flow by sickled red blood cells .  Severe Pain
 Progressive end organ dysfunction .  crises
 Obvious wider applicability , but get Orphan Drug Status :Tax perks , but
  main advanatage : regulatory fast trak .
  $100-300M Hi margin ww mkt .
 Only need ~ 15 Acnt Reps
  got  $400k grant from FDA for Faez 3 .
 No current alternative treatment .
   15000   75000  severe & other episode % yr .
 Patients see Hematologist specialists .  -  1 or 2 reps in 5 bouroughs
 Genetics from central & western Africa to central & So America mainly .
  ( single gene provides Malaria  prevention . )
 Insurance & State & Fed pay .
 Have established safety - efficacy .
 Acute lung embolism trial starting in 60 days .

Other Teks : 6 other programs from Research to Faez 2 .

 1.90 book  | 1.25 - 2. $  price range .

|17:20| ?s : antibiotics  Newborn testing increased life span .
 | Abe : outpatient ?  Can be done . normally Hospital based Hemotologists
 | Montefiore Dr ? she hi on her experience .
 | undervalued because more $ moving into hi Caps .
 | Not blood thinner like cumidin .
 | Early res in stroke where blood not flowing .
 | substitute for angioplasty ? no that large vessel obstruction problem .
 | Faez 3 done by EoY .
 | 3pl line of patent defense :  Orphan , Children , use patents .
 | Diabetic vascular problems ? excellent comment .  IV chronic
 | surfactant - ~ interfere w hemiglobin resparation .
 | Done bunch of devestiture for 20M$ .
 | < .5B$ % yr , not worth Major`s time .
 | Clare : deals in work ? always talking . no comments .
 | Jerry : 1 trick pony ? looking @ acqing complementary prods .
|17:38|
 Cause of crisis ? multiple factors , change in hemiglobin content , moisture
 IV injection of several cc`s of "soap" solution .  veins don`t mind .

 Valuation ?