Coconut oil has become a victim of biotechnology advances in the United States, with researchers succeeding in increasing the lauric acid of rapeseed or canola oil from zero to 60 percent.
This, Dr. Calixto M. Protacio says in an advance copy of an article to be published soon, was made possible through the use of recombinant di-ribonucleic acid (DNA) technology.
"Biotechnology has turned out to be double edged sword, with success in another crop turning out to be detrimental to the market of coconut oil," Protacio said.
The success may have spelled a temporary setback to coconut oil producers and the Philippine Coconut Authority under Administrator Oscar Garin, but it does not reduce the importance of coconut oil as a major product of the country.
"Why should we care about this development? Because the only previous significant source of lauric acid was coconut oil. This means that coconut oil may be substituted by the cheaper and more available canola oil," Protacio added.
"Fortunately, lauric acid content is not the only consideration. Coconut oil also contains many medium chain fatty acids that cannot be found in other vegetable oils, thus, it still maintains its competitive advantage," he said.
To beat the competition at their own game, at least two laboratories at the University of the Philippines at Los Banos "are busy in re-engineering the coconut so that it will also increase its lauric acid content."
"They have isolated and cloned the genes responsible for lauric acid accumulation," he said.
This initial accomplishment is a profitable step for local companies that can mass produce coconut oil with higher lauric acid content than canola oil.
"Unfortunately, there remains a formidable stumbling block; coconut lacks a reliable, reproducible regeneration system. While it is possible to transfer improved genes to coconut cells, the transformed cells still cannot be reproducibly regenerated into whole plants at this time," Protacio said.
He said research is ongoing to develop this regeneration system. "Some coconut palms have actually been regenerated through tissue culture but the method remains to be perfected," Protacio said. - GMANews.TV
31 Oct 2008
Scientists develop cancer fighting tomato
A purple tomato genetically engineered to contain nutrients more commonly seen in dark berries helped prevent cancer in mice, British researchers said on Sunday.The finding, published in the journal Nature Biotechnology, bolsters the idea that plants can be genetically modified to make people healthier.
Cancer-prone mice fed the modified fruit lived significantly longer than animals fed a standard diet with and without regular tomatoes, Cathie Martin and colleagues at the government-funded John Innes Center in Britain reported.
"The effect was much bigger than we had expected," said Martin, a plant biologist.
The study focused on anthocyanins, a type of antioxidant found in berries such as blackberries and blackcurrants that have been shown to lower risk of cancer, heart disease and some neurological diseases.
While an easy health boost, many people do not eat enough of these fruits, the researchers said.
Using genes that help color the snapdragon flower, the researchers discovered they could get the tomatoes to make anthocyanins -- turning the tomato purple in the process.
Mice genetically engineered to develop cancer lived an average of 182 days when they were fed the purple tomatoes, compared to 142 days for animals on the standard diet.
"It is enormously encouraging to believe that by changing diet, or specific components in the diet, you can improve health in animals and possibly humans," Martin said in a telephone interview.
The researchers cautioned that trials in humans are a long way off and the next step is to investigate how the antioxidants actually affect the tumors to promote better health.
But the findings do bolster research suggesting that people can significantly improve their health by making simple changes to the daily diet, other researchers said.
"It's exciting to see new techniques that could potentially make healthy foods even better for us," said Dr. Lara Bennett, science information officer at Cancer Research UK.
"But it's too early to say whether anthocyanins obtained through diet could help to reduce the risk of cancer."
Source : Reuters, UK
Rs100cr Biotech Pharma IT park planned
The Hyderabad-based Bharat Biotech International Limited has been asked by the Orissa government to develop a Rs 100 crore Biotech Pharma IT park at Andharua near Bhubaneswar.
The park will be developed over 64.86 acres in public-private-partnership (PPP) mode. The project is expected to promote biotechnology, pharmaceuticals and information technology industries in the state, official sources said. Bharat Biotech has significant experience in the development and successful commercialization of technology parks in India. It has also successfully developed an integrated food biotech park in Bangalore.
The government has allotted 54.96 acres for the project which will be handed over in two phases. The land will be given in the form of a long term lease basis and the company will be required to make commitment on time bound development of infrastructure and facilities in the park.
A Special Purpose Vehicle (SPV) will be formed by the company to implement the project which will execute the lease cum development agreement of the company with Orissa Industrial Infrastructure Development Corporation (IDCO). “The project is expected to be completed in about 8 years and the state government and IDCO will provide all external infrastructure such as road connectivity, water supply, power supply with 33 KVA sub-station”, a senior official of the state science and technology department said.
A Biotechnology Incubation Centre (BIC) will also be developed over 10 acres of land within the park. This facility will be used by researchers, entrepreneurs and students. The department of biotechnology, Government of India, has assured funding for the equipment or instrumentation of this 'Centre of Excellence' within the park.
Source : Business-Standard
The park will be developed over 64.86 acres in public-private-partnership (PPP) mode. The project is expected to promote biotechnology, pharmaceuticals and information technology industries in the state, official sources said. Bharat Biotech has significant experience in the development and successful commercialization of technology parks in India. It has also successfully developed an integrated food biotech park in Bangalore.
The government has allotted 54.96 acres for the project which will be handed over in two phases. The land will be given in the form of a long term lease basis and the company will be required to make commitment on time bound development of infrastructure and facilities in the park.
A Special Purpose Vehicle (SPV) will be formed by the company to implement the project which will execute the lease cum development agreement of the company with Orissa Industrial Infrastructure Development Corporation (IDCO). “The project is expected to be completed in about 8 years and the state government and IDCO will provide all external infrastructure such as road connectivity, water supply, power supply with 33 KVA sub-station”, a senior official of the state science and technology department said.
A Biotechnology Incubation Centre (BIC) will also be developed over 10 acres of land within the park. This facility will be used by researchers, entrepreneurs and students. The department of biotechnology, Government of India, has assured funding for the equipment or instrumentation of this 'Centre of Excellence' within the park.
Source : Business-Standard
27 Oct 2008
Hawaii County Bans Biotech Coffee
The professional anti-biotech alarmists over at the Center for Food Safety are crowing in a press release (not yet available online) that the Hawaii County Council has banned growing biotech coffee and taro. According to the press release:
The new ordinance, which makes it unlawful to grow genetically engineered (GE) coffee or taro anywhere on the Island of Hawaii, was strongly supported by coffee and taro farmers, and passed by a 9-0 vote of the Council on October 9th.
"Coffee growers testified that the planting of genetically engineered coffee would contaminate and damage markets for their premium Kona coffee, costing them their livelihoods. Many cited past episodes where biotech rice and corn have contaminated conventional varieties, resulting in marketplace rejection, dramatically lower prices, and large losses to farmers.
Coffee farmers argued that they would lose their "specialty coffee" status and/or organic certification if biotech coffee were ever planted on Hawaii Island. The Kona coffee industry brings more than $25 million into the state each year."
Beside fears of "contamination," some residents apparently brought up possible health concerns:
"There were compelling testimonies from mothers of children who have complex allergies. Allergic reactions are one potential health threat of biotech crops, and taro is known world-wide as one the most hypo-allergenic foods on earth."
Never mind that there is no scientific evidence whatsoever that any of the current varieties of biotech crops cause allergic reactions in people.
The coffee and taro growers should look at what happened to their neighbors who grow biotech papayas. In the 1990s, papaya growing in Hawaii was nearly extinct due to the ringspot virus. Fortunately, researchers developed a biotech variety that resists the virus, thus reviving the industry.
Other researchers have now developed a biotech variety of coffee that is resistant to insects such as the coffee leaf miner. Perhaps those nice Kona coffee growers will change their minds about biotech should the leaf miner ever make it to Hawaii.
http://www.truthabouttrade.org/content/view/12614/54/
The new ordinance, which makes it unlawful to grow genetically engineered (GE) coffee or taro anywhere on the Island of Hawaii, was strongly supported by coffee and taro farmers, and passed by a 9-0 vote of the Council on October 9th.
"Coffee growers testified that the planting of genetically engineered coffee would contaminate and damage markets for their premium Kona coffee, costing them their livelihoods. Many cited past episodes where biotech rice and corn have contaminated conventional varieties, resulting in marketplace rejection, dramatically lower prices, and large losses to farmers.
Coffee farmers argued that they would lose their "specialty coffee" status and/or organic certification if biotech coffee were ever planted on Hawaii Island. The Kona coffee industry brings more than $25 million into the state each year."
Beside fears of "contamination," some residents apparently brought up possible health concerns:
"There were compelling testimonies from mothers of children who have complex allergies. Allergic reactions are one potential health threat of biotech crops, and taro is known world-wide as one the most hypo-allergenic foods on earth."
Never mind that there is no scientific evidence whatsoever that any of the current varieties of biotech crops cause allergic reactions in people.
The coffee and taro growers should look at what happened to their neighbors who grow biotech papayas. In the 1990s, papaya growing in Hawaii was nearly extinct due to the ringspot virus. Fortunately, researchers developed a biotech variety that resists the virus, thus reviving the industry.
Other researchers have now developed a biotech variety of coffee that is resistant to insects such as the coffee leaf miner. Perhaps those nice Kona coffee growers will change their minds about biotech should the leaf miner ever make it to Hawaii.
http://www.truthabouttrade.org/content/view/12614/54/
Less water, more biotech
To satisfy the world's growing demand for food, scientists are trying to pull off a genetic trick that nature itself has had trouble accomplishing in millions of years of evolution. They want to create varieties of corn, wheat and other crops that can thrive with little water.
As the world's population expands and global warming alters weather patterns, water shortages are expected to hold back efforts to grow more food. People drink only a quart or two of water every day, but the food they eat in a typical day, including plants and meat, requires 2,000 to 3,000 quarts to produce.
For companies that manage to get "more crop per drop," the payoff could be huge, and scientists at many of the biggest agricultural companies are busy tweaking plant genes in search of the winning formula.
Monsanto, the biggest crop biotechnology company, says its first drought-tolerant corn will reach farmers in four years and will provide a 10 percent increase in yields in states like Nebraska and Kansas that tend to get less rainfall than eastern parts of the Corn Belt.
At a recent farm show here called Husker Harvest Days, a few thousand farmers were guided past a small plot on which Monsanto had grown its drought-tolerant corn next to a similar variety without the "drought gene." A transparent tent had shielded the plants from any rain through the hot Nebraska summer.
The results were, to be sure, less than miraculous. Both the drought-tolerant and the comparison plants were turning brown and shriveling, and they were about 3 feet shorter than the lush green irrigated corn growing nearby. But the drought-tolerant plants, which also contained a second gene to protect their roots from a pest, were a little greener and a few inches taller than the comparison plants, and their cobs were missing fewer kernels.
Monsanto said the improvement was significant. And the Nebraska and Kansas farmers who toured Monsanto's plot, many of them facing water-use restrictions and soaring pumping costs for irrigation, said any improvement would be welcome.
"We pump water like there's no end, and that's not going to last forever," said Tom Schuele, a farmer in Cedar Rapids, Neb. Monsanto's competitors, including DuPont's Pioneer Hi-Bred unit and Syngenta, say they also plan to introduce water-efficient corn in a few years. And companies are working on plants that can stand up to heat, cold, salty soils and other tough environments.
A small California company called Arcadia Biosciences is trying to develop crops that need only half as much nitrogen fertilizer as a conventional plant. Fertilizer is crucial to modern food production, but the large quantities used today damage the environment. And because fertilizer is made from natural gas, its costs have soared along with other energy costs.
Public sector scientists are also on the hunt. Researchers at the University of California and the International Rice Research Institute in the Philippines are developing rice that can survive flooding, which causes major crop losses for poor farmers in the lowlands of India and other countries. While rice is typically grown in standing water, the plants will die if submerged for more than a few days.
Many of these advanced crops are being developed using genetic engineering. The technology, already used to make crops that can resist weeds and insects, has spurred worldwide controversy. But in an era in which people are marching in the streets of many countries to demand more food at lower prices, low-water crops might win over areas that now shun biotech crops, such as most of Africa.
"Drought tolerance to me is the most critical entry point," said Calestous Juma, a professor of international development at Harvard who has advised African governments on biotechnology. "This is kind of reopening the window for genetic modification."
Critics accuse the biotechnology industry and its backers of exploiting the recent global food crisis to push a technology that has been oversold and that could have unanticipated health and environmental effects.
Indeed, many past predictions of how biotechnology would create novel crops have not come to fruition. And some experts say Monsanto and its peers have not published enough information to prove they can make drought-tolerant crops.
"I want to see more, I guess, from the Monsanto work before I'd be convinced they've got it," said John S. Boyer, an emeritus professor at the University of Delaware.
Safety questions must also be answered. Changing the water needs of a plant requires a more fundamental alteration of its metabolism than adding a gene to make the plant resistant to insects. "The potential for unintended side effects is greater, so the testing has to be greater," said David A. Lightfoot, a professor of genetics and genomics at Southern Illinois University.
How much could be gained by use of these new crops is not yet clear. A report in 2007 by the International Water Management Institute, which is part of an international network of agricultural research centers, concluded that genetic improvements would have only a "moderate" impact over the next 15 to 20 years in making crops more efficient in using water.
"Greater, easier and less contentious gains," it said, could come from better managing water supplies, rather than trying to develop crops that can flourish with less water.
But many experts say the situation is grave enough that all approaches must be tried simultaneously.
Poor growing conditions can reduce crop yields by 70 percent or more below their potential. American farmers, for instance, average about 150 bushels of corn an acre. But David K. Hula of Charles City, Va., won a competition last year by harvesting nearly 386 bushels an acre, a measure of what modern crop varieties can achieve under optimal conditions.
No single approach is likely to suffice for all types of dry conditions. "Probably no one has found the magic gene yet," said Jian-Kang Zhu, a professor of plant biology at the University of California, Riverside. "Probably there is no magic gene."
http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/810270311/1011/BUSINESS
As the world's population expands and global warming alters weather patterns, water shortages are expected to hold back efforts to grow more food. People drink only a quart or two of water every day, but the food they eat in a typical day, including plants and meat, requires 2,000 to 3,000 quarts to produce.
For companies that manage to get "more crop per drop," the payoff could be huge, and scientists at many of the biggest agricultural companies are busy tweaking plant genes in search of the winning formula.
Monsanto, the biggest crop biotechnology company, says its first drought-tolerant corn will reach farmers in four years and will provide a 10 percent increase in yields in states like Nebraska and Kansas that tend to get less rainfall than eastern parts of the Corn Belt.
At a recent farm show here called Husker Harvest Days, a few thousand farmers were guided past a small plot on which Monsanto had grown its drought-tolerant corn next to a similar variety without the "drought gene." A transparent tent had shielded the plants from any rain through the hot Nebraska summer.
The results were, to be sure, less than miraculous. Both the drought-tolerant and the comparison plants were turning brown and shriveling, and they were about 3 feet shorter than the lush green irrigated corn growing nearby. But the drought-tolerant plants, which also contained a second gene to protect their roots from a pest, were a little greener and a few inches taller than the comparison plants, and their cobs were missing fewer kernels.
Monsanto said the improvement was significant. And the Nebraska and Kansas farmers who toured Monsanto's plot, many of them facing water-use restrictions and soaring pumping costs for irrigation, said any improvement would be welcome.
"We pump water like there's no end, and that's not going to last forever," said Tom Schuele, a farmer in Cedar Rapids, Neb. Monsanto's competitors, including DuPont's Pioneer Hi-Bred unit and Syngenta, say they also plan to introduce water-efficient corn in a few years. And companies are working on plants that can stand up to heat, cold, salty soils and other tough environments.
A small California company called Arcadia Biosciences is trying to develop crops that need only half as much nitrogen fertilizer as a conventional plant. Fertilizer is crucial to modern food production, but the large quantities used today damage the environment. And because fertilizer is made from natural gas, its costs have soared along with other energy costs.
Public sector scientists are also on the hunt. Researchers at the University of California and the International Rice Research Institute in the Philippines are developing rice that can survive flooding, which causes major crop losses for poor farmers in the lowlands of India and other countries. While rice is typically grown in standing water, the plants will die if submerged for more than a few days.
Many of these advanced crops are being developed using genetic engineering. The technology, already used to make crops that can resist weeds and insects, has spurred worldwide controversy. But in an era in which people are marching in the streets of many countries to demand more food at lower prices, low-water crops might win over areas that now shun biotech crops, such as most of Africa.
"Drought tolerance to me is the most critical entry point," said Calestous Juma, a professor of international development at Harvard who has advised African governments on biotechnology. "This is kind of reopening the window for genetic modification."
Critics accuse the biotechnology industry and its backers of exploiting the recent global food crisis to push a technology that has been oversold and that could have unanticipated health and environmental effects.
Indeed, many past predictions of how biotechnology would create novel crops have not come to fruition. And some experts say Monsanto and its peers have not published enough information to prove they can make drought-tolerant crops.
"I want to see more, I guess, from the Monsanto work before I'd be convinced they've got it," said John S. Boyer, an emeritus professor at the University of Delaware.
Safety questions must also be answered. Changing the water needs of a plant requires a more fundamental alteration of its metabolism than adding a gene to make the plant resistant to insects. "The potential for unintended side effects is greater, so the testing has to be greater," said David A. Lightfoot, a professor of genetics and genomics at Southern Illinois University.
How much could be gained by use of these new crops is not yet clear. A report in 2007 by the International Water Management Institute, which is part of an international network of agricultural research centers, concluded that genetic improvements would have only a "moderate" impact over the next 15 to 20 years in making crops more efficient in using water.
"Greater, easier and less contentious gains," it said, could come from better managing water supplies, rather than trying to develop crops that can flourish with less water.
But many experts say the situation is grave enough that all approaches must be tried simultaneously.
Poor growing conditions can reduce crop yields by 70 percent or more below their potential. American farmers, for instance, average about 150 bushels of corn an acre. But David K. Hula of Charles City, Va., won a competition last year by harvesting nearly 386 bushels an acre, a measure of what modern crop varieties can achieve under optimal conditions.
No single approach is likely to suffice for all types of dry conditions. "Probably no one has found the magic gene yet," said Jian-Kang Zhu, a professor of plant biology at the University of California, Riverside. "Probably there is no magic gene."
http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/810270311/1011/BUSINESS
Less water, more biotech
To satisfy the world's growing demand for food, scientists are trying to pull off a genetic trick that nature itself has had trouble accomplishing in millions of years of evolution. They want to create varieties of corn, wheat and other crops that can thrive with little water.
As the world's population expands and global warming alters weather patterns, water shortages are expected to hold back efforts to grow more food. People drink only a quart or two of water every day, but the food they eat in a typical day, including plants and meat, requires 2,000 to 3,000 quarts to produce.
For companies that manage to get "more crop per drop," the payoff could be huge, and scientists at many of the biggest agricultural companies are busy tweaking plant genes in search of the winning formula.
Monsanto, the biggest crop biotechnology company, says its first drought-tolerant corn will reach farmers in four years and will provide a 10 percent increase in yields in states like Nebraska and Kansas that tend to get less rainfall than eastern parts of the Corn Belt.
At a recent farm show here called Husker Harvest Days, a few thousand farmers were guided past a small plot on which Monsanto had grown its drought-tolerant corn next to a similar variety without the "drought gene." A transparent tent had shielded the plants from any rain through the hot Nebraska summer.
The results were, to be sure, less than miraculous. Both the drought-tolerant and the comparison plants were turning brown and shriveling, and they were about 3 feet shorter than the lush green irrigated corn growing nearby. But the drought-tolerant plants, which also contained a second gene to protect their roots from a pest, were a little greener and a few inches taller than the comparison plants, and their cobs were missing fewer kernels.
Monsanto said the improvement was significant. And the Nebraska and Kansas farmers who toured Monsanto's plot, many of them facing water-use restrictions and soaring pumping costs for irrigation, said any improvement would be welcome.
"We pump water like there's no end, and that's not going to last forever," said Tom Schuele, a farmer in Cedar Rapids, Neb. Monsanto's competitors, including DuPont's Pioneer Hi-Bred unit and Syngenta, say they also plan to introduce water-efficient corn in a few years. And companies are working on plants that can stand up to heat, cold, salty soils and other tough environments.
A small California company called Arcadia Biosciences is trying to develop crops that need only half as much nitrogen fertilizer as a conventional plant. Fertilizer is crucial to modern food production, but the large quantities used today damage the environment. And because fertilizer is made from natural gas, its costs have soared along with other energy costs.
Public sector scientists are also on the hunt. Researchers at the University of California and the International Rice Research Institute in the Philippines are developing rice that can survive flooding, which causes major crop losses for poor farmers in the lowlands of India and other countries. While rice is typically grown in standing water, the plants will die if submerged for more than a few days.
Many of these advanced crops are being developed using genetic engineering. The technology, already used to make crops that can resist weeds and insects, has spurred worldwide controversy. But in an era in which people are marching in the streets of many countries to demand more food at lower prices, low-water crops might win over areas that now shun biotech crops, such as most of Africa.
"Drought tolerance to me is the most critical entry point," said Calestous Juma, a professor of international development at Harvard who has advised African governments on biotechnology. "This is kind of reopening the window for genetic modification."
Critics accuse the biotechnology industry and its backers of exploiting the recent global food crisis to push a technology that has been oversold and that could have unanticipated health and environmental effects.
Indeed, many past predictions of how biotechnology would create novel crops have not come to fruition. And some experts say Monsanto and its peers have not published enough information to prove they can make drought-tolerant crops.
"I want to see more, I guess, from the Monsanto work before I'd be convinced they've got it," said John S. Boyer, an emeritus professor at the University of Delaware.
Safety questions must also be answered. Changing the water needs of a plant requires a more fundamental alteration of its metabolism than adding a gene to make the plant resistant to insects. "The potential for unintended side effects is greater, so the testing has to be greater," said David A. Lightfoot, a professor of genetics and genomics at Southern Illinois University.
How much could be gained by use of these new crops is not yet clear. A report in 2007 by the International Water Management Institute, which is part of an international network of agricultural research centers, concluded that genetic improvements would have only a "moderate" impact over the next 15 to 20 years in making crops more efficient in using water.
"Greater, easier and less contentious gains," it said, could come from better managing water supplies, rather than trying to develop crops that can flourish with less water.
But many experts say the situation is grave enough that all approaches must be tried simultaneously.
Poor growing conditions can reduce crop yields by 70 percent or more below their potential. American farmers, for instance, average about 150 bushels of corn an acre. But David K. Hula of Charles City, Va., won a competition last year by harvesting nearly 386 bushels an acre, a measure of what modern crop varieties can achieve under optimal conditions.
No single approach is likely to suffice for all types of dry conditions. "Probably no one has found the magic gene yet," said Jian-Kang Zhu, a professor of plant biology at the University of California, Riverside. "Probably there is no magic gene."
http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/810270311/1011/BUSINESS
As the world's population expands and global warming alters weather patterns, water shortages are expected to hold back efforts to grow more food. People drink only a quart or two of water every day, but the food they eat in a typical day, including plants and meat, requires 2,000 to 3,000 quarts to produce.
For companies that manage to get "more crop per drop," the payoff could be huge, and scientists at many of the biggest agricultural companies are busy tweaking plant genes in search of the winning formula.
Monsanto, the biggest crop biotechnology company, says its first drought-tolerant corn will reach farmers in four years and will provide a 10 percent increase in yields in states like Nebraska and Kansas that tend to get less rainfall than eastern parts of the Corn Belt.
At a recent farm show here called Husker Harvest Days, a few thousand farmers were guided past a small plot on which Monsanto had grown its drought-tolerant corn next to a similar variety without the "drought gene." A transparent tent had shielded the plants from any rain through the hot Nebraska summer.
The results were, to be sure, less than miraculous. Both the drought-tolerant and the comparison plants were turning brown and shriveling, and they were about 3 feet shorter than the lush green irrigated corn growing nearby. But the drought-tolerant plants, which also contained a second gene to protect their roots from a pest, were a little greener and a few inches taller than the comparison plants, and their cobs were missing fewer kernels.
Monsanto said the improvement was significant. And the Nebraska and Kansas farmers who toured Monsanto's plot, many of them facing water-use restrictions and soaring pumping costs for irrigation, said any improvement would be welcome.
"We pump water like there's no end, and that's not going to last forever," said Tom Schuele, a farmer in Cedar Rapids, Neb. Monsanto's competitors, including DuPont's Pioneer Hi-Bred unit and Syngenta, say they also plan to introduce water-efficient corn in a few years. And companies are working on plants that can stand up to heat, cold, salty soils and other tough environments.
A small California company called Arcadia Biosciences is trying to develop crops that need only half as much nitrogen fertilizer as a conventional plant. Fertilizer is crucial to modern food production, but the large quantities used today damage the environment. And because fertilizer is made from natural gas, its costs have soared along with other energy costs.
Public sector scientists are also on the hunt. Researchers at the University of California and the International Rice Research Institute in the Philippines are developing rice that can survive flooding, which causes major crop losses for poor farmers in the lowlands of India and other countries. While rice is typically grown in standing water, the plants will die if submerged for more than a few days.
Many of these advanced crops are being developed using genetic engineering. The technology, already used to make crops that can resist weeds and insects, has spurred worldwide controversy. But in an era in which people are marching in the streets of many countries to demand more food at lower prices, low-water crops might win over areas that now shun biotech crops, such as most of Africa.
"Drought tolerance to me is the most critical entry point," said Calestous Juma, a professor of international development at Harvard who has advised African governments on biotechnology. "This is kind of reopening the window for genetic modification."
Critics accuse the biotechnology industry and its backers of exploiting the recent global food crisis to push a technology that has been oversold and that could have unanticipated health and environmental effects.
Indeed, many past predictions of how biotechnology would create novel crops have not come to fruition. And some experts say Monsanto and its peers have not published enough information to prove they can make drought-tolerant crops.
"I want to see more, I guess, from the Monsanto work before I'd be convinced they've got it," said John S. Boyer, an emeritus professor at the University of Delaware.
Safety questions must also be answered. Changing the water needs of a plant requires a more fundamental alteration of its metabolism than adding a gene to make the plant resistant to insects. "The potential for unintended side effects is greater, so the testing has to be greater," said David A. Lightfoot, a professor of genetics and genomics at Southern Illinois University.
How much could be gained by use of these new crops is not yet clear. A report in 2007 by the International Water Management Institute, which is part of an international network of agricultural research centers, concluded that genetic improvements would have only a "moderate" impact over the next 15 to 20 years in making crops more efficient in using water.
"Greater, easier and less contentious gains," it said, could come from better managing water supplies, rather than trying to develop crops that can flourish with less water.
But many experts say the situation is grave enough that all approaches must be tried simultaneously.
Poor growing conditions can reduce crop yields by 70 percent or more below their potential. American farmers, for instance, average about 150 bushels of corn an acre. But David K. Hula of Charles City, Va., won a competition last year by harvesting nearly 386 bushels an acre, a measure of what modern crop varieties can achieve under optimal conditions.
No single approach is likely to suffice for all types of dry conditions. "Probably no one has found the magic gene yet," said Jian-Kang Zhu, a professor of plant biology at the University of California, Riverside. "Probably there is no magic gene."
http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/810270311/1011/BUSINESS
Less water, more biotech
To satisfy the world's growing demand for food, scientists are trying to pull off a genetic trick that nature itself has had trouble accomplishing in millions of years of evolution. They want to create varieties of corn, wheat and other crops that can thrive with little water.
As the world's population expands and global warming alters weather patterns, water shortages are expected to hold back efforts to grow more food. People drink only a quart or two of water every day, but the food they eat in a typical day, including plants and meat, requires 2,000 to 3,000 quarts to produce.
For companies that manage to get "more crop per drop," the payoff could be huge, and scientists at many of the biggest agricultural companies are busy tweaking plant genes in search of the winning formula.
Monsanto, the biggest crop biotechnology company, says its first drought-tolerant corn will reach farmers in four years and will provide a 10 percent increase in yields in states like Nebraska and Kansas that tend to get less rainfall than eastern parts of the Corn Belt.
At a recent farm show here called Husker Harvest Days, a few thousand farmers were guided past a small plot on which Monsanto had grown its drought-tolerant corn next to a similar variety without the "drought gene." A transparent tent had shielded the plants from any rain through the hot Nebraska summer.
The results were, to be sure, less than miraculous. Both the drought-tolerant and the comparison plants were turning brown and shriveling, and they were about 3 feet shorter than the lush green irrigated corn growing nearby. But the drought-tolerant plants, which also contained a second gene to protect their roots from a pest, were a little greener and a few inches taller than the comparison plants, and their cobs were missing fewer kernels.
Monsanto said the improvement was significant. And the Nebraska and Kansas farmers who toured Monsanto's plot, many of them facing water-use restrictions and soaring pumping costs for irrigation, said any improvement would be welcome.
"We pump water like there's no end, and that's not going to last forever," said Tom Schuele, a farmer in Cedar Rapids, Neb. Monsanto's competitors, including DuPont's Pioneer Hi-Bred unit and Syngenta, say they also plan to introduce water-efficient corn in a few years. And companies are working on plants that can stand up to heat, cold, salty soils and other tough environments.
A small California company called Arcadia Biosciences is trying to develop crops that need only half as much nitrogen fertilizer as a conventional plant. Fertilizer is crucial to modern food production, but the large quantities used today damage the environment. And because fertilizer is made from natural gas, its costs have soared along with other energy costs.
Public sector scientists are also on the hunt. Researchers at the University of California and the International Rice Research Institute in the Philippines are developing rice that can survive flooding, which causes major crop losses for poor farmers in the lowlands of India and other countries. While rice is typically grown in standing water, the plants will die if submerged for more than a few days.
Many of these advanced crops are being developed using genetic engineering. The technology, already used to make crops that can resist weeds and insects, has spurred worldwide controversy. But in an era in which people are marching in the streets of many countries to demand more food at lower prices, low-water crops might win over areas that now shun biotech crops, such as most of Africa.
"Drought tolerance to me is the most critical entry point," said Calestous Juma, a professor of international development at Harvard who has advised African governments on biotechnology. "This is kind of reopening the window for genetic modification."
Critics accuse the biotechnology industry and its backers of exploiting the recent global food crisis to push a technology that has been oversold and that could have unanticipated health and environmental effects.
Indeed, many past predictions of how biotechnology would create novel crops have not come to fruition. And some experts say Monsanto and its peers have not published enough information to prove they can make drought-tolerant crops.
"I want to see more, I guess, from the Monsanto work before I'd be convinced they've got it," said John S. Boyer, an emeritus professor at the University of Delaware.
Safety questions must also be answered. Changing the water needs of a plant requires a more fundamental alteration of its metabolism than adding a gene to make the plant resistant to insects. "The potential for unintended side effects is greater, so the testing has to be greater," said David A. Lightfoot, a professor of genetics and genomics at Southern Illinois University.
How much could be gained by use of these new crops is not yet clear. A report in 2007 by the International Water Management Institute, which is part of an international network of agricultural research centers, concluded that genetic improvements would have only a "moderate" impact over the next 15 to 20 years in making crops more efficient in using water.
"Greater, easier and less contentious gains," it said, could come from better managing water supplies, rather than trying to develop crops that can flourish with less water.
But many experts say the situation is grave enough that all approaches must be tried simultaneously.
Poor growing conditions can reduce crop yields by 70 percent or more below their potential. American farmers, for instance, average about 150 bushels of corn an acre. But David K. Hula of Charles City, Va., won a competition last year by harvesting nearly 386 bushels an acre, a measure of what modern crop varieties can achieve under optimal conditions.
No single approach is likely to suffice for all types of dry conditions. "Probably no one has found the magic gene yet," said Jian-Kang Zhu, a professor of plant biology at the University of California, Riverside. "Probably there is no magic gene."
http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/810270311/1011/BUSINESS
As the world's population expands and global warming alters weather patterns, water shortages are expected to hold back efforts to grow more food. People drink only a quart or two of water every day, but the food they eat in a typical day, including plants and meat, requires 2,000 to 3,000 quarts to produce.
For companies that manage to get "more crop per drop," the payoff could be huge, and scientists at many of the biggest agricultural companies are busy tweaking plant genes in search of the winning formula.
Monsanto, the biggest crop biotechnology company, says its first drought-tolerant corn will reach farmers in four years and will provide a 10 percent increase in yields in states like Nebraska and Kansas that tend to get less rainfall than eastern parts of the Corn Belt.
At a recent farm show here called Husker Harvest Days, a few thousand farmers were guided past a small plot on which Monsanto had grown its drought-tolerant corn next to a similar variety without the "drought gene." A transparent tent had shielded the plants from any rain through the hot Nebraska summer.
The results were, to be sure, less than miraculous. Both the drought-tolerant and the comparison plants were turning brown and shriveling, and they were about 3 feet shorter than the lush green irrigated corn growing nearby. But the drought-tolerant plants, which also contained a second gene to protect their roots from a pest, were a little greener and a few inches taller than the comparison plants, and their cobs were missing fewer kernels.
Monsanto said the improvement was significant. And the Nebraska and Kansas farmers who toured Monsanto's plot, many of them facing water-use restrictions and soaring pumping costs for irrigation, said any improvement would be welcome.
"We pump water like there's no end, and that's not going to last forever," said Tom Schuele, a farmer in Cedar Rapids, Neb. Monsanto's competitors, including DuPont's Pioneer Hi-Bred unit and Syngenta, say they also plan to introduce water-efficient corn in a few years. And companies are working on plants that can stand up to heat, cold, salty soils and other tough environments.
A small California company called Arcadia Biosciences is trying to develop crops that need only half as much nitrogen fertilizer as a conventional plant. Fertilizer is crucial to modern food production, but the large quantities used today damage the environment. And because fertilizer is made from natural gas, its costs have soared along with other energy costs.
Public sector scientists are also on the hunt. Researchers at the University of California and the International Rice Research Institute in the Philippines are developing rice that can survive flooding, which causes major crop losses for poor farmers in the lowlands of India and other countries. While rice is typically grown in standing water, the plants will die if submerged for more than a few days.
Many of these advanced crops are being developed using genetic engineering. The technology, already used to make crops that can resist weeds and insects, has spurred worldwide controversy. But in an era in which people are marching in the streets of many countries to demand more food at lower prices, low-water crops might win over areas that now shun biotech crops, such as most of Africa.
"Drought tolerance to me is the most critical entry point," said Calestous Juma, a professor of international development at Harvard who has advised African governments on biotechnology. "This is kind of reopening the window for genetic modification."
Critics accuse the biotechnology industry and its backers of exploiting the recent global food crisis to push a technology that has been oversold and that could have unanticipated health and environmental effects.
Indeed, many past predictions of how biotechnology would create novel crops have not come to fruition. And some experts say Monsanto and its peers have not published enough information to prove they can make drought-tolerant crops.
"I want to see more, I guess, from the Monsanto work before I'd be convinced they've got it," said John S. Boyer, an emeritus professor at the University of Delaware.
Safety questions must also be answered. Changing the water needs of a plant requires a more fundamental alteration of its metabolism than adding a gene to make the plant resistant to insects. "The potential for unintended side effects is greater, so the testing has to be greater," said David A. Lightfoot, a professor of genetics and genomics at Southern Illinois University.
How much could be gained by use of these new crops is not yet clear. A report in 2007 by the International Water Management Institute, which is part of an international network of agricultural research centers, concluded that genetic improvements would have only a "moderate" impact over the next 15 to 20 years in making crops more efficient in using water.
"Greater, easier and less contentious gains," it said, could come from better managing water supplies, rather than trying to develop crops that can flourish with less water.
But many experts say the situation is grave enough that all approaches must be tried simultaneously.
Poor growing conditions can reduce crop yields by 70 percent or more below their potential. American farmers, for instance, average about 150 bushels of corn an acre. But David K. Hula of Charles City, Va., won a competition last year by harvesting nearly 386 bushels an acre, a measure of what modern crop varieties can achieve under optimal conditions.
No single approach is likely to suffice for all types of dry conditions. "Probably no one has found the magic gene yet," said Jian-Kang Zhu, a professor of plant biology at the University of California, Riverside. "Probably there is no magic gene."
http://www.rutlandherald.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/810270311/1011/BUSINESS
Biotech cash crunch threatens new medicines: UK expert
The global credit crunch, which has already pushed some small biotechnology companies to the wall, could seriously delay the discovery of new life-saving medicines, a British expert warned on Monday.
David Wield, director of the Economic and Social Research Council's Edinburgh-based Innogen Center, said the cash crisis now looming for many firms had wider implications for society.
"Drug discovery depends on long-term finance with high risk of failure -- and lots of it," he said in remarks prepared for a conference in London.
"What will happen to investment in biotech research if finance cannot even be found for relatively everyday expenses, which are increasingly becoming more of a struggle?"
Many biotech companies are desperate to find new funds as investors shun the notoriously risky sector, leading to severe financial problems on both sides of the Atlantic.
In addition to the impact on the basic research performed at biotech companies, development of drugs by large pharmaceutical firms has also been hit by the credit crunch, with several having laid off staff or closed research units, Wield said.
Sourse : Reuters
David Wield, director of the Economic and Social Research Council's Edinburgh-based Innogen Center, said the cash crisis now looming for many firms had wider implications for society.
"Drug discovery depends on long-term finance with high risk of failure -- and lots of it," he said in remarks prepared for a conference in London.
"What will happen to investment in biotech research if finance cannot even be found for relatively everyday expenses, which are increasingly becoming more of a struggle?"
Many biotech companies are desperate to find new funds as investors shun the notoriously risky sector, leading to severe financial problems on both sides of the Atlantic.
In addition to the impact on the basic research performed at biotech companies, development of drugs by large pharmaceutical firms has also been hit by the credit crunch, with several having laid off staff or closed research units, Wield said.
Sourse : Reuters
Bristol preps for biotech buying spree
Bristol-Myers Squibb yesterday said it plans to buy "a long list" of biotech drugs and companies.
The company's future buying spree was announced after the New York City-based drugmaker hit what amounts to a jackpot these days: third-quarter net income tripled on strong sales of Plavix and a $2 billion gain from the sale earlier this year of its ConvaTec unit.
Earnings -- powered by strong sales of its heart, HIV/AIDS and psychiatric drugs and revenue from the sale earlier this year of ConvaTec, its wound care business -- beat Wall Street expectations by 4-cents, according to Bloomberg.
The company outbid this month for ImClone Systems said it was flush with $7.2 billion in cash for possible acquisitions over the next two years, before its top-selling product, the blood-thinner Plavix, loses patent protection.
"It is a buyers' market, but most of our competitors are also looking at some of these same companies," Bristol-Myers CEO James Cornelius said in a conference call with analysts.
"We have a long list of companies that we would like to acquire over the next couple of years, and I'm confident we will do it."
Net income for the quarter rose to $2.58 billion, or $1.29 a share, from $858 million, or 43 cents, a year earlier.
Deutsche Bank analyst Barbara Ryan and J.P. Morgan analyst Chris Schott wrote in client notes they expect Bristol-Myers to post double-digit earnings-per-share growth next year. And they said there's a bonus: the company is relatively free of new generic competition, a factor that has cut deeply into the earnings of other major drugmakers.
Bristol-Myers third quarter results included the of loss $224 million on investments in mortgage-backed securities, which brings to $250 million the drug marker lost on the type of investments roiling the global financial system.
Revenue in the third quarter rose 14 percent, to $5.25 billion on strong sales of Plavix and the schizophrenia drug Abilify.
The drugmaker raised its 2008 forecast to a range of $1.61 to $1.66 a share, from $1.36 to $1.46, based on plans to sell its 13 percent stake in ImClone, valued at $900 million.
Last month, Bristol-Myers' bid was turned down by ImClone, which co-markets the cancer drug Erbitux with Bristol-Myers in the United States and Canada.
The bidding was won by Eli-Lilly, which plans to complete the purchase of the biotech early next year.
The company's future buying spree was announced after the New York City-based drugmaker hit what amounts to a jackpot these days: third-quarter net income tripled on strong sales of Plavix and a $2 billion gain from the sale earlier this year of its ConvaTec unit.
Earnings -- powered by strong sales of its heart, HIV/AIDS and psychiatric drugs and revenue from the sale earlier this year of ConvaTec, its wound care business -- beat Wall Street expectations by 4-cents, according to Bloomberg.
The company outbid this month for ImClone Systems said it was flush with $7.2 billion in cash for possible acquisitions over the next two years, before its top-selling product, the blood-thinner Plavix, loses patent protection.
"It is a buyers' market, but most of our competitors are also looking at some of these same companies," Bristol-Myers CEO James Cornelius said in a conference call with analysts.
"We have a long list of companies that we would like to acquire over the next couple of years, and I'm confident we will do it."
Net income for the quarter rose to $2.58 billion, or $1.29 a share, from $858 million, or 43 cents, a year earlier.
Deutsche Bank analyst Barbara Ryan and J.P. Morgan analyst Chris Schott wrote in client notes they expect Bristol-Myers to post double-digit earnings-per-share growth next year. And they said there's a bonus: the company is relatively free of new generic competition, a factor that has cut deeply into the earnings of other major drugmakers.
Bristol-Myers third quarter results included the of loss $224 million on investments in mortgage-backed securities, which brings to $250 million the drug marker lost on the type of investments roiling the global financial system.
Revenue in the third quarter rose 14 percent, to $5.25 billion on strong sales of Plavix and the schizophrenia drug Abilify.
The drugmaker raised its 2008 forecast to a range of $1.61 to $1.66 a share, from $1.36 to $1.46, based on plans to sell its 13 percent stake in ImClone, valued at $900 million.
Last month, Bristol-Myers' bid was turned down by ImClone, which co-markets the cancer drug Erbitux with Bristol-Myers in the United States and Canada.
The bidding was won by Eli-Lilly, which plans to complete the purchase of the biotech early next year.
Biotech - attractive valuations, more acquisitions
During the third quarter 2008, BB BIOTECH's portfolio companies continued to hold up in a turbulent environment. BB BIOTECH's share price closed the quarter at CHF 83.50, flat compared to the second quarter 2008. In Germany it closed at EUR 53.20, up 3% compared to the previous quarter. The Net Asset Value of BB BIOTECH increased by 5% during the quarter. As a result, the difference between the share price and the Net Asset Value of BB BIOTECH increased to 16%, despite the fact that BB BIOTECH continued its share buyback program aggressively, purchasing 782 400 shares worth CHF 68 mn. We will continue our measures to decrease the difference between share price and Net Asset Value.
During the quarter, numerous acquisitions of biotech companies took place. Most importantly, in July, Roche announced its intention to acquire the 44% of Genentech shares that it does not own for USD 47.3 bn. Following the announcement, Genentech's share price appreciated significantly. We took advantage of the price appreciation and reduced our holding in Genentech significantly. Although the offer was subsequently rejected by the independent directors of Genentech, for being too low, we expect the transaction to be consummated.
The number of acquisitions of European biotech companies is increasing as well, indicating the progress that European biotech companies are making. Our Germany-based holding Jerini was acquired by Shire at a premium of 199% to the preceding three months average share price. Previously, Jerini had received an approval from the European Regulatory Agency EMEA for its product Firazyr for treatment of hereditary angioedema.
Our UK-based holding Acambis was acquired by Sanofi at a premium of 65% to the preceding two months average share price. Acambis is developing innovative vaccines for the prevention of serious infectious diseases.
On the negative side, our holding Elan presented ambiguous results from a Phase II trial of its antibody Bapineuzumab for treatment of Alzheimer's disease. Although the results of that particular trial disappointed the high expectations which had been built up in front of the data, we are confident that medical breakthroughs for treatment of Alzheimer's disease will be
achieved in the coming years.
Biogen Idec and Elan announced two more cases of progressive multifocal leukoencephalophathy (PML) associated with treatment of multiple sclerosis with its drug Tysabri. Although both patients are recovering, the share prices of both companies declined significantly following the news. We continue to believe in the superior clinical profile of Tysabri and we continue to expect that Tysabri will become a substantial commercial success. Following the news, we increased our holding in Biogen Idec substantially.
As a result of the turmoil in the financial markets, biotech companies are now trading at very low valuations, despite strong growth and strong fundamentals. The business models of the vast majority of our companies are hardly affected by the current squeeze on the credit markets because they are well financed and generate substantial cash-flows. In addition, biotech assets become increasingly attractive for pharmaceutical companies, as most of the pharmaceutical companies are under increasing pressure to acquire or in-licence new products. Although we aren't able to forecast how long the current financial crisis will last, we are very confident that biotech will be among the winners in the coming years.
This is the composition of BB BIOTECH's Portfolio as at September 30, 2008 (in % of securities):
CORE HOLDINGS Actelion 28.8% Celgene 17.5% Gilead 17.3% Vertex Pharmaceuticals 10.5% Genentech 10.5% Biogen Idec 5.4%
SMALL PARTICIPATIONS Zymogenetics 1.7% Roche Holding GS 1.5% Elan 1.0% Affymetrix 1.0% The Medicines Company 0.9% NicOx 0.7% Rigel Pharmaceuticals 0.5% Basilea Pharmaceutica 0.5% Optimer Pharmaceuticals 0.5% Incyte 0.5% Arena Pharmaceuticals 0.3% BioXell 0.3% Epigenomics 0.2% Keryx Biopharmaceuticals <0.1%
Genentech call option (long) 0.1% Celgene call option (short) <(0.1%) SWAP agreement on treasury shares 0.4%
Total securities CHF 1 775.8 mn
Liquid funds (net) CHF (33.3) mn Other assets CHF 19.8 mn Other payables CHF (112.9) mn
Total shareholder's equity CHF 1 649.3 mn Treasury shares (in % of company) 18.2%
The Quarterly Report is available on www.bbbiotech.com.
For further information please contact: Bellevue Asset Management AG, Seestrasse 16, CH-8700 Kusnacht, Switzerland Nafida Bendali or Maria-Grazia Alderuccio, Tel. +41 44 267 67 00
BB Biotech AG Vordergasse 3 Schaffhausen Switzerland
WKN: 888509; ISIN: CH0001441580 ; Index: Prime All Share, MIDCAP, TECH All Share, TecDAX, HDAX; Listed: Geregelter Markt in Frankfurter Wertpapierborse;
SOURCE: BB Biotech AG
For full details for BBBOF click here.
During the quarter, numerous acquisitions of biotech companies took place. Most importantly, in July, Roche announced its intention to acquire the 44% of Genentech shares that it does not own for USD 47.3 bn. Following the announcement, Genentech's share price appreciated significantly. We took advantage of the price appreciation and reduced our holding in Genentech significantly. Although the offer was subsequently rejected by the independent directors of Genentech, for being too low, we expect the transaction to be consummated.
The number of acquisitions of European biotech companies is increasing as well, indicating the progress that European biotech companies are making. Our Germany-based holding Jerini was acquired by Shire at a premium of 199% to the preceding three months average share price. Previously, Jerini had received an approval from the European Regulatory Agency EMEA for its product Firazyr for treatment of hereditary angioedema.
Our UK-based holding Acambis was acquired by Sanofi at a premium of 65% to the preceding two months average share price. Acambis is developing innovative vaccines for the prevention of serious infectious diseases.
On the negative side, our holding Elan presented ambiguous results from a Phase II trial of its antibody Bapineuzumab for treatment of Alzheimer's disease. Although the results of that particular trial disappointed the high expectations which had been built up in front of the data, we are confident that medical breakthroughs for treatment of Alzheimer's disease will be
achieved in the coming years.
Biogen Idec and Elan announced two more cases of progressive multifocal leukoencephalophathy (PML) associated with treatment of multiple sclerosis with its drug Tysabri. Although both patients are recovering, the share prices of both companies declined significantly following the news. We continue to believe in the superior clinical profile of Tysabri and we continue to expect that Tysabri will become a substantial commercial success. Following the news, we increased our holding in Biogen Idec substantially.
As a result of the turmoil in the financial markets, biotech companies are now trading at very low valuations, despite strong growth and strong fundamentals. The business models of the vast majority of our companies are hardly affected by the current squeeze on the credit markets because they are well financed and generate substantial cash-flows. In addition, biotech assets become increasingly attractive for pharmaceutical companies, as most of the pharmaceutical companies are under increasing pressure to acquire or in-licence new products. Although we aren't able to forecast how long the current financial crisis will last, we are very confident that biotech will be among the winners in the coming years.
This is the composition of BB BIOTECH's Portfolio as at September 30, 2008 (in % of securities):
CORE HOLDINGS Actelion 28.8% Celgene 17.5% Gilead 17.3% Vertex Pharmaceuticals 10.5% Genentech 10.5% Biogen Idec 5.4%
SMALL PARTICIPATIONS Zymogenetics 1.7% Roche Holding GS 1.5% Elan 1.0% Affymetrix 1.0% The Medicines Company 0.9% NicOx 0.7% Rigel Pharmaceuticals 0.5% Basilea Pharmaceutica 0.5% Optimer Pharmaceuticals 0.5% Incyte 0.5% Arena Pharmaceuticals 0.3% BioXell 0.3% Epigenomics 0.2% Keryx Biopharmaceuticals <0.1%
Genentech call option (long) 0.1% Celgene call option (short) <(0.1%) SWAP agreement on treasury shares 0.4%
Total securities CHF 1 775.8 mn
Liquid funds (net) CHF (33.3) mn Other assets CHF 19.8 mn Other payables CHF (112.9) mn
Total shareholder's equity CHF 1 649.3 mn Treasury shares (in % of company) 18.2%
The Quarterly Report is available on www.bbbiotech.com.
For further information please contact: Bellevue Asset Management AG, Seestrasse 16, CH-8700 Kusnacht, Switzerland Nafida Bendali or Maria-Grazia Alderuccio, Tel. +41 44 267 67 00
BB Biotech AG Vordergasse 3 Schaffhausen Switzerland
WKN: 888509; ISIN: CH0001441580 ; Index: Prime All Share, MIDCAP, TECH All Share, TecDAX, HDAX; Listed: Geregelter Markt in Frankfurter Wertpapierborse;
SOURCE: BB Biotech AG
For full details for BBBOF click here.
BioPartnering Europe (BPE) Continues to Stand Out as Europe's Premier Biotech Partnering Conference
Technology Vision Group LLC (TVG) is delighted to announce that as BPE enters its 16th year it continues to stand out as Europe's premier biotech partnering conference. Over 1086 delegates from the international biotech and pharma industry participated in BPE, which took place on October 12-14th at the QEII Conference Centre in London.
This year there were well over 5,555 meetings scheduled via the biopartnering.com software, with numerous other meetings arranged ad hoc, at what proved to be a lively and engaging event. The meetings were facilitated by biopartnering.com, TVG's powerful internet platform, developed to enhance conference participation before, during and after BPE, allowing attendees to make the most of their time at the conference and capitalise on all the opportunities afforded by BPE.
Dr. Alistair Irvine, Director of Business Developmentat Kuros Biosurgery AG, Switzerland, who attended the conference said:
"BioPartnering Europe was a great platform from which tofurther develop Kuros'partneringactivities. We were able to arrange a multitude of meetings with a great range of companies from all over the world. I would recommend attending the conference to those companies who want to broadentheir organisation's partnering and networking opportunities."
As in previous years the Leadership Sessions were a significant attraction for delegates and discussed some of the most pressing challenges for the life science industry today. The Session entitled, "Partner, Sell, or Go It Alone - Deal Strategies for Building a Successful Biotech Company in a Tough World," saw animated discussions between deal gurus and finance experts as they analysed the current state of the markets and deal making and the strategies that have led to success. In another Leadership Session, "Deal or No Deal" a highly experienced panel reviewed and discussed market expectations for deal terms in the life sciences sector and market reaction to recent deals done.
One of the panellists, Crispin Simon CEO of Biocompatibles International plc commented:
"It was a great opportunity to be able to speak at the conference and share Biocompatibles' deal experiences. We really enjoyed the BioPartnering conference and made some really worthwhile progress in discussions with potential partners for our RNAi-delivering polymer systems."
Delegates enjoyed three days of unique networking opportunities, designed to help life science companies meet with potential new partners and investors, including an evening reception at London's Science Museum.
BioForecaster
The BioForecaster -- Fall 2008 is consistently one of the highlights of the London conference. This year, the panel of experts included Stuart Henderson of Deloitte, Dr. Sam Fazeli of Piper Jaffray, John Hodgson of Critical I, Antoine Papiernik of Sofinnova Partners and Dr. Andrew Richards.
The session looked at significant trends in the biotech industry against a background of ever increasing financial challenges. The panellists covered topics such as company strategy, the future of venture capital funding, investment trends, and drew comparisons between the early stage companies and public companies. In general, the panellists were in agreement that the next year will be difficult for the biotech industry, however in spite of this, the future of sector was positive and that by BPE 2009 the worst of the credit crunch would be behind us.
Finally, Sponsors workshops were very successful and provided interactive and practical insights on a number of issues, including licensing and collaboration agreement disputes and strategies for licensing your biotech products to pharma.
The sister Conference of BPE, the 7th Annual BioPartnering North America will take place on February 8 - 10, 2009 in Vancouver, British Columbia, Canada. The 17th Annual BioPartnering Europe will be held on October 11-13, 2009, in London, UK.
For all details about BioPartnering Europe and BioPartnering North America please go to http://www.techvision.com.
About Technology Vision Group
Technology Vision Group LLC (TVG) is one of the leading business development organizations serving the international life sciences industry. Since 1992, TVG has been developing innovative methods to help life science and associated technology companies attract partners and investors, acquire new products and technologies, and achieve a variety of other strategic business development goals.
Confirmed Presenting Companies:
4- Antibody AG, Ablynx, ACE BioSciences A/S, Aerie Pharmaceuticals, Inc, Affitech AS/ Affitech USA, Inc., Agile Therapeutics, AlgoNomics NV, Allergy Therapeutics plc, Alligator Bioscience AB, Allozyne, Ambit Biosciences, AM-Pharma B.V., Apthera, Inc., Aquinox Pharmaceuticals Inc., Arana Therapeutics Limited, Archimedes Pharma Ltd, Ardea Biosciences, Asphelia Pharmaceuticals, Avecia Limited, Balter Inc. (& PhotoSense AS), BaroFold, Inc, Baxter Asia Pacific, Bio Nano Centre, Biocompatibles International plc, Biocontrol Ltd, BioFocus DPI Limited, Biolex Therapeutics, Inc., BioSeek, Inc., BiPar Sciences, Inc, BN ImmunoTherapeutics, BTG, Calabar AB, Celleron Therapeutics, Cellzome Inc., Cequent Pharmaceuticals, Ceregene Inc., Cerenis Therapeutics, Circassia, Clinical Data, CNSBio Pty Ltd, CoLucid Pharmaceuticals, Inc., CoMentis, Inc., Concert Pharmaceuticals, Inc., Critical Pharmaceuticals Ltd, Cumbre Pharmaceuticals Inc., Curis, Inc., Cyclacel Limited, Cytokinetics, Inc., DBV-Technologies, Debiopharm SA, deCODE chemistry & biostructures, Delcath Systems, Inc., Delphi Genetics, Direvo Biotech AG, e2v biosensors, EcoBiotics Ltd, Egalet a/s, Emergent BioSolutions, Endoceutics, EntreMed, Inc., EquinOx Pharmaceuticals Corporation, Essentialis, Inc., Eurand S.p.A., Evotec, Flamel Technologies SA, f-star Biotechnology, Ganymed Pharmaceuticals AG, Genera Biosystems Limited, Glytech, Haemostatix Ltd, Halozyme Therapeutics, Health Protection Agency, Heptares Therapeutics Ltd, Hyposafe A/S, ImmunoVaccine Technologies Inc. (IVT), Indevus Pharmaceuticals, Inc., Innate Pharma, InNexus Biotechnology Inc., Intas Biopharmaceuticals Ltd, Interleukin Genetics, Inc., Intermune, Inc., Ipsat Therapies Oy, Isconova, Jazz Pharmaceuticals, Inc., KAI Pharmaceuticals Inc., Lamellar Biomedical Limited, Lectus Therapeutics Ltd, Lentigen Corporation, LifeCycle Pharma, Inc., MBC Pharma, Inc, Medelis, Inc., MedPharm Ltd, Micromet, Inc., Moberg Derma AB, Modern Biosciences, Molecular Profiles Ltd, MolMed SpA, MorphoSys AG, Napo Pharmaceuticals, Inc., Nektar Therapeutics, NeoGenix Oncology, Inc., Neurobiological Technologies Inc., Neurocrine Biosciences, Inc., Neurotech Pharmaceuticals, NextPharma, Norgine, Novacta Therapeutics, Novosom AG, Novozymes A/S, NsGene A/S, Numerate, Inc., Office of Biomedical Advanced Research and Development Authority (BARDA), Olink Bioscience, Oncolytics Biotech Inc., OptiNose, Panacos Pharmaceuticals, Inc., PharmaNova, PlexPress, PolyMedix Inc., Polytherics, Presidio Pharmaceuticals, Inc., Probiodrug AG, ProCell Therapeutics, Inc./Chonnam National University, Pronota nv, Propanc Pty Ltd, Prosonix Ltd, Protalix Biotherapeutics, Q Chip Ltd, Receptor BioLogix, Revotar Biopharmaceuticals AG, Sciclone Pharmaceuticals, Selvita, SemBioSys Genetics Inc., Sequoia Sciences, Inc., Serodus AS, Serometrix LLC, Shire Pharmaceuticals, Inc., Sidec AB, Silence Therapeutics AG /plc, Simcere Pharmaceutical Incorporation, Spectrum Pharmaceuticals, Inc., Summit plc, SuperGen, Inc., Suven Life Sciences Limited, Symphogen A/S, Synageva BioPharma, Synosia Therapeutics Inc, Syntaxin Ltd, Tetraphase Pharmaceuticals,The University of Nottingham, Therosteon, Theryte Ltd, TopoTarget A/S, Transcept Pharmaceuticals, Transdel Pharmaceuticals, Inc., Tranzyme Pharma, TriStar Technology Group, LLC., Trophos, UCB Group, Vakzine Projekt Management GmbH, ValiBIO SA, Verva Pharmaceuticals Ltd., Vivostat A/S, VLST, Vyteris, Inc., Xenome Ltd., XOMA LTD, YM BioSciences Inc.
Sponsors
AstraZeneca, Deloitte, Takeda Pharmaceuticals, Taylor Wessing, Cooley, Ferghana Partners, Goodwin Procter, Abbott, Amgen, Bristol-Myers Squibb, Glaxo-Smith Kline, International Business Wales, Johnson & Johnson, Merck, Novartis, Pfizer, Procter & Gamble Pharmaceuticals, Roche, UKTI, Farris, Vaughan, Wills and Murphy, ImmuPharma, and Genzyme
Conference Supporters
BioCentury, BioPharm International, BioSquare, Biotech 360, BioWorld Today, Business Wire, Citigate Dewe Rogerson, European Biotechnology News, Nature Publishing Group, The Scientist
GBP Supporters
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SOURCE: Technology Vision Group LLC Attendees:
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or
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Significant Growth of Biotech Investor Participation Expected for Seventh Annual BIO Investor Forum
The Biotechnology Industry Organization (BIO) today announces a substantial increase in anticipated investor participation in the Seventh Annual BIO Investor Forum, taking place Oct. 29-31 in San Francisco, Calif. at the Palace Hotel. More than 240 venture capital and public market investors are expected to attend -- representing a 40 percent increase in participation compared to 2007.
The Seventh Annual BIO Investor Forum will feature more than 140 presentations by private and publicly traded companies, 28 distinguished clinicians and investigators, nine Therapeutic Workshops(TM) and six Business Roundtables, which have been reviewed by an Advisory Committee of industry leaders. Experts hand-selected to speak at this conference will focus on current biotechnology pipeline innovation, and the latest in clinical strategy, capital access and creative funding techniques. BIO launched independent investor meetings more than a decade ago to ensure access to qualified investors for entrepreneurial biotech companies -- even in times of economic duress. One of BIO's priorities is to stimulate and support investment in biotech innovation.
A list of the companies of registered investors can be found at http://investorforum.bio.org/bif/2008/Investors.html.
"The fact that investor attendance for BIF is up over last year's strong level shows that despite these difficult market conditions, investors continue to be interested in both innovative companies pursuing cutting edge scientific advances and high quality programming," said Jim Greenwood, BIO President and CEO. "As investor and corporate interest in the conference continues to grow, we anticipate three days of engaging discussions from leading biotech experts representing innovative private and public companies, investors and the entire financial community."
"I have found the BIO Investor Forum to be one of my favorite conferences for seeing new investment ideas, meeting individually with management teams and attending insightful panel discussions that speak to investors who closely follow this industry," said Ashley Dombkowski, PhD, Managing Director of MPM Capital. "Companies selected to present and featured experts represent some of the most innovative technologies, clinical development programs and industry infrastructure issues today, which is a refreshing reminder of what draws investors and partners to this conference."
This year's meeting will continue to explore current and competitive therapeutic development trends and investment opportunities in life sciences through therapeutic, business and plenary panels.
Development-stage companies presenting at the BIO Investor Forum were chosen through a competitive screening process taking into consideration company size, financing history, near-term clinical catalysts, innovation in a particular therapeutic field and level of unmet medical need.
The conference will also feature BIO's web-based partnering system to arrange one-on-one meetings between registered companies, investors, and industry business development, licensing and therapeutic franchise heads.
To register for the BIO Investor Forum, visit http://investorforum.bio.org. Registration is complimentary for qualified investors and credentialed members of the media.
Private and public biopharmaceutical companies interested in speaking at the conference in the limited number of presentation slots available can contact BIO Customer Service at biopartnering@bio.org or 866.356.5155 (US), 1.202.962.6666 (International).
The BIO Investor Forum is a national investor conference featuring leading private and emerging public companies. The meeting attracts healthcare venture and private equity investors, buy-side investors and research analysts. In addition, the BIO Investor Forum draws business development executives from leading global pharmaceutical and mature biotechnology companies.
About BIO
BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
Upcoming BIO Events
Intellectual Property Council Committee Fall Conference and Meeting
October 20-22, 2008
Orlando, Fla.
BIO HR Conference 2008
October 26-28, 2008
San Diego, Calif.
BIO-LES Advanced Business Development Course
October 27-29, 2008
San Francisco, Calif.
Seventh Annual BIO Investor Forum
October 29-31, 2008
San Francisco, Calif.
Advanced Business Development Course
November 14-16, 2008
Mannheim/Heidelberg, Germany
BIO-Europe 2008
November 17-19, 2008
Mannheim/Heidelberg, Germany
2009
BIO International Convention
May 18-21, 2009
Atlanta, Ga.
SOURCE: Biotechnology Industry Organization (BIO) Biotechnology Industry Organization (BIO) Press Contact: Erin Reese, 202-962-9235 or Investor Contact: John Craighead, 202-962-6632
www.bio.org
The Seventh Annual BIO Investor Forum will feature more than 140 presentations by private and publicly traded companies, 28 distinguished clinicians and investigators, nine Therapeutic Workshops(TM) and six Business Roundtables, which have been reviewed by an Advisory Committee of industry leaders. Experts hand-selected to speak at this conference will focus on current biotechnology pipeline innovation, and the latest in clinical strategy, capital access and creative funding techniques. BIO launched independent investor meetings more than a decade ago to ensure access to qualified investors for entrepreneurial biotech companies -- even in times of economic duress. One of BIO's priorities is to stimulate and support investment in biotech innovation.
A list of the companies of registered investors can be found at http://investorforum.bio.org/bif/2008/Investors.html.
"The fact that investor attendance for BIF is up over last year's strong level shows that despite these difficult market conditions, investors continue to be interested in both innovative companies pursuing cutting edge scientific advances and high quality programming," said Jim Greenwood, BIO President and CEO. "As investor and corporate interest in the conference continues to grow, we anticipate three days of engaging discussions from leading biotech experts representing innovative private and public companies, investors and the entire financial community."
"I have found the BIO Investor Forum to be one of my favorite conferences for seeing new investment ideas, meeting individually with management teams and attending insightful panel discussions that speak to investors who closely follow this industry," said Ashley Dombkowski, PhD, Managing Director of MPM Capital. "Companies selected to present and featured experts represent some of the most innovative technologies, clinical development programs and industry infrastructure issues today, which is a refreshing reminder of what draws investors and partners to this conference."
This year's meeting will continue to explore current and competitive therapeutic development trends and investment opportunities in life sciences through therapeutic, business and plenary panels.
Development-stage companies presenting at the BIO Investor Forum were chosen through a competitive screening process taking into consideration company size, financing history, near-term clinical catalysts, innovation in a particular therapeutic field and level of unmet medical need.
The conference will also feature BIO's web-based partnering system to arrange one-on-one meetings between registered companies, investors, and industry business development, licensing and therapeutic franchise heads.
To register for the BIO Investor Forum, visit http://investorforum.bio.org. Registration is complimentary for qualified investors and credentialed members of the media.
Private and public biopharmaceutical companies interested in speaking at the conference in the limited number of presentation slots available can contact BIO Customer Service at biopartnering@bio.org or 866.356.5155 (US), 1.202.962.6666 (International).
The BIO Investor Forum is a national investor conference featuring leading private and emerging public companies. The meeting attracts healthcare venture and private equity investors, buy-side investors and research analysts. In addition, the BIO Investor Forum draws business development executives from leading global pharmaceutical and mature biotechnology companies.
About BIO
BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
Upcoming BIO Events
Intellectual Property Council Committee Fall Conference and Meeting
October 20-22, 2008
Orlando, Fla.
BIO HR Conference 2008
October 26-28, 2008
San Diego, Calif.
BIO-LES Advanced Business Development Course
October 27-29, 2008
San Francisco, Calif.
Seventh Annual BIO Investor Forum
October 29-31, 2008
San Francisco, Calif.
Advanced Business Development Course
November 14-16, 2008
Mannheim/Heidelberg, Germany
BIO-Europe 2008
November 17-19, 2008
Mannheim/Heidelberg, Germany
2009
BIO International Convention
May 18-21, 2009
Atlanta, Ga.
SOURCE: Biotechnology Industry Organization (BIO) Biotechnology Industry Organization (BIO) Press Contact: Erin Reese, 202-962-9235 or Investor Contact: John Craighead, 202-962-6632
www.bio.org
21 Oct 2008
EU Keeps 'Zero Tolerance' Policy On Biotech Imports For Now
October 20, 2008
The European Union for now will keep its "zero tolerance" policy on allowing the presence of unapproved varieties of genetically modified plants in imported food and animal feed, a spokeswoman for the European Commission said Monday.
Biotech companies, farmers and feed importers sought a change to the policy because of concerns that imports with trace amounts of unapproved biotech plants would be blocked from the E.U. The concern is particularly acute for soybeans: the E.U. imports about 75% of its supply, and they form a crucial source of protein in the diet of Europe's livestock.
The E.U. is making progress toward approving new plant varieties for import, said commission health spokeswoman Nina Papdoulaki, citing the clearance of a biotech corn and soybean in the last seven months. The commission also sent a biotech soybean - Roundup Ready 2, developed by Monsanto Co. (MON) - to the European Council for approval, putting it on track for final import clearance by next year's harvest in the fall.
"We believe with the authorization of these products, there won't be any need for a (policy change), at least for the time being," Papadoulaki said.
The commission will continue to monitor the situation and may decide that a change to the "zero tolerance" policy is in fact necessary, she added.
The E.U. approves genetically modified plants at a slower rate than the U.S. The difference has already stopped corn exports to the E.U. from the U.S., because the risk of contaminating normal corn shipments with biotech varieties not approved for import in the E.U. is too great.
The European Union for now will keep its "zero tolerance" policy on allowing the presence of unapproved varieties of genetically modified plants in imported food and animal feed, a spokeswoman for the European Commission said Monday.
Biotech companies, farmers and feed importers sought a change to the policy because of concerns that imports with trace amounts of unapproved biotech plants would be blocked from the E.U. The concern is particularly acute for soybeans: the E.U. imports about 75% of its supply, and they form a crucial source of protein in the diet of Europe's livestock.
The E.U. is making progress toward approving new plant varieties for import, said commission health spokeswoman Nina Papdoulaki, citing the clearance of a biotech corn and soybean in the last seven months. The commission also sent a biotech soybean - Roundup Ready 2, developed by Monsanto Co. (MON) - to the European Council for approval, putting it on track for final import clearance by next year's harvest in the fall.
"We believe with the authorization of these products, there won't be any need for a (policy change), at least for the time being," Papadoulaki said.
The commission will continue to monitor the situation and may decide that a change to the "zero tolerance" policy is in fact necessary, she added.
The E.U. approves genetically modified plants at a slower rate than the U.S. The difference has already stopped corn exports to the E.U. from the U.S., because the risk of contaminating normal corn shipments with biotech varieties not approved for import in the E.U. is too great.
TheraGenetics to Present at First Annual Boston Biotech R&D Conference
TheraGenetics Limited, a personalized medicine diagnostics company that is developing and commercializing a portfolio of pharmacogenetic diagnostic tests to guide and improve the treatment of central nervous system (CNS) disorders, announced today that Richard Kivel, Chief Executive Officer of TheraGenetics will present at the 2008 Boston Biotech R&D Conference, at 1:00 p.m. (ET) on October 22, 2008 at Harvard Medical School in Boston, Massachusetts. TheraGenetics' presentation will be moderated by Mike King of Rodman & Renshaw and will provide an overview of the company and its development efforts to bring personalized medicine diagnostics into clinical practice for patients living with diseases of the central nervous system, including schizophrenia, depression, bipolar disorder, Alzheimer's disease and ADHD (attention deficit hyperactivity disorder), through the use of pharmacogenetic tests.
"We are pleased to be presenting at the first ever Boston Biotech R&D conference," said Richard Kivel, Chief Executive Officer of TheraGenetics. "I look forward to sharing information with other leading companies and community leaders, as well as providing an update on the promising advances we are making with our R&D efforts to improve the treatment of patients with complex CNS disorders by predicting response and side-effects to drug treatments."
About The Boston Biotech R&D Conference
The 2008 Boston Biotech R&D Conference willtake place at Harvard Medical School and will highlightthe work of top academics as well asup-and-coming biotech companies in the Boston area. The agenda featureskeynotes fromseveral luminaries in medicine and research, including Jeffrey S. Flier, Dean of Harvard Medical School, Leonard Guarente, Ronald Kahn, Eric S. Lander,Robert Langer, Phillip Sharp, David Sinclair, as well asCEOsof the next generation of leading biotech and pharma companies from the Boston area. The conference is sponsored by Alexandria Real Estate Equities Inc., Pure Communications Inc., and Rodman & Renshaw, LLC. For more information, visit www.bostonbiotechconference.com.
About TheraGenetics
TheraGenetics is a privately held, personalized medicine diagnostics company that is developing and commercializing a portfolio of pharmacogenetic diagnostic tests to guide and improve the treatment of CNS disorders thereby bringing the right medicine to the right patient.
TheraGenetics was created in April 2006 as a spin-out of the Institute of Psychiatry at King's College London. Current investors include Swarraton Partners Ltd., Tudor Capital UK, IP Group PLC and Kinetique Biomedical Seed Fund. For more information please visit
www.theragenetics.com.
SOURCE: TheraGenetics Limited
"We are pleased to be presenting at the first ever Boston Biotech R&D conference," said Richard Kivel, Chief Executive Officer of TheraGenetics. "I look forward to sharing information with other leading companies and community leaders, as well as providing an update on the promising advances we are making with our R&D efforts to improve the treatment of patients with complex CNS disorders by predicting response and side-effects to drug treatments."
About The Boston Biotech R&D Conference
The 2008 Boston Biotech R&D Conference willtake place at Harvard Medical School and will highlightthe work of top academics as well asup-and-coming biotech companies in the Boston area. The agenda featureskeynotes fromseveral luminaries in medicine and research, including Jeffrey S. Flier, Dean of Harvard Medical School, Leonard Guarente, Ronald Kahn, Eric S. Lander,Robert Langer, Phillip Sharp, David Sinclair, as well asCEOsof the next generation of leading biotech and pharma companies from the Boston area. The conference is sponsored by Alexandria Real Estate Equities Inc., Pure Communications Inc., and Rodman & Renshaw, LLC. For more information, visit www.bostonbiotechconference.com.
About TheraGenetics
TheraGenetics is a privately held, personalized medicine diagnostics company that is developing and commercializing a portfolio of pharmacogenetic diagnostic tests to guide and improve the treatment of CNS disorders thereby bringing the right medicine to the right patient.
TheraGenetics was created in April 2006 as a spin-out of the Institute of Psychiatry at King's College London. Current investors include Swarraton Partners Ltd., Tudor Capital UK, IP Group PLC and Kinetique Biomedical Seed Fund. For more information please visit
www.theragenetics.com.
SOURCE: TheraGenetics Limited
China Biotech Week in Review: FDA, Deals & Earnings
In a world dominated by worldwide trade, standards eventually become more uniform. In the late 19th century, as railroads shattered the isolation of the small towns in the American west, uniform time zones replaced the practice of allowing each locality to set its major clock to high noon, a practice that meant time in one town could be three or fifteen minutes different from the next one. A similar standardization is underway in China biopharma.
Last week, in ChinaBio Today, we covered a webinar in which speakers discussed the implications of the new China offices established by the US FDA (see story). Nicholas Buhay, an FDA Deputy Director, promised that the number of inspections would grow until the job gets done. The FDA will try very hard to prevent the use of unauthorized ingredients in drugs and food, the kind of problem that has led to many of the safety problems in China over the past two years. The FDA will also target companies that pose the greatest risk, meaning the manufacturers with procedures that are difficult to control, particularly if the manufacturer is bringing a new product to market.
Raymond A. Bonner, an attorney active in FDA regulatory work at Sidley Austin LLP, looked at the promise of FDA inspections from the point of view of a company seeking a China outsourcing partner. “Go back to basics,” he said. “Think like you would when you do any due diligence. Examine organizational structure and the organization of quality control." Each company should have written procedures for quality control, and written powers to stop manufacturing when a problem arises. Basic sanitation is a prerequisite, as is clear documentation. Bonner urged companies to prepare so they can impress regulators on the first inspection, because credibility, once lost, is hard to regain.
Showing that inspection programs are important,, a China pharmaceutical product last week has once again caused deadly side effects. Three people died after being injected with a TCM product based on the Ciwujia herb (see story). The drug is administered to treat thrombosis and heart disease. The SFDA reacted by pulling two batches of the drug from the shelves. The drug, which is manufactured by Wandashan Pharmaceutical, is one of about ten Ciwusia products manufactured by the company. Reports said that the contaminated batches had an unusual color and contained toxins. However, it is not yet known how the batches became contaminated.
The worldwide economic crisis made itself felt in China biopharma again last week. WuXi PharmaTech (WX) released weaker-than-expected financial Q3 results (unaudited) and, at the same time, lowered guidance for its full year (see story). The company shaved its forecast for 2009 revenue by $20 to $35 million. The new revenue range is expected to be between $260 and $265 million, which still represents a growth rate of 95%. WuXi said the troubled economy was forcing some smaller biotechs to delay or cancel work on biologic manufacturing projects. The company’s newly acquired US-based AppTec division was one of the reasons for WuXi’s increased revenues. However, AppTec is also the division responsible for biologic manufacturing, the major cause given for the shortfall.
On the positive side of things, WuXi PharmaTech announced that is has expanded its collaboration with Johnson & Johnson (JNJ) (see story). WuXi will provide Janssen Pharmaceutica, a division of J&J Pharmaceutical Research & Development, with integrated research services in the area of discovery chemistry, discovery biology, chemical and analytical development services, formulation, and preclinical and bio-analytical services. Previously, WuXi was supplying only discovery chemistry services to J&J.
China Aoxing Pharmaceutical Company (CAXG.OB) also released a financial report last week. In its 2008 fiscal year, ended June 30, 2008, the company’s revenues climbed 264% to $7 million, helped by a $2.7 million contribution from a new acquisition (see story). Revenue growth from its own products was 123%. Gross profit totaled $2.3 million, representing a rise of 259%. However, net income was still a loss of $3.6 million on a non-GAAP basis. China Aoxing, which operates in China’s highly regulated world of narcotic pain drug development, has been active in the last year on the deal front. It also has a number of drug candidates in development that, if approved, will give the company’s financial fortunes a boost.
China Biologic Products (CBPO.OB) announced another acquisition, saying it will purchase a 35% stake in Xi'an Huitian Blood Products Co. (see story). Both companies manufacture plasma-based pharmaceuticals. China Biologic will pay 44 million RMB ($6.4 million) to buy Huitian. Two weeks ago, China Biologic announced a $28.5 million deal to acquire a 50% controlling interest in Qianfeng Biological Products of Guizhou Province, also a plasma-based pharma. With the two new affiliates, China Biologic says it expects 2009 revenues will double this year’s expected revenues of $49 million.
Pioneer Surgical Technology, a Michigan company that manufactures a portfolio of spinal medical devices, has signed up Bonovo Orthopedics, Inc. to distribute its products in China (see story). Bonova, which is based in Arizona, is a China manufacturer and distributor of orthopedic products. Bonovo plans to introduce Pioneer’s spine products in November at the Chinese Orthopedic Association meeting in SuZhou, China. Pioneer began marketing its first product, surgical wire, in 1992. It has gone on to develop a wide range of orthopedic and spinal devices, which it sells in Europe. Its products are being evaluated for use in the US. Financial details of the agreement were not disclosed.
On the CRO front, Charles River Laboratories (CRL) formally opened its 60,000 square foot preclinical facility in Shanghai (see story). The international CRO and Shanghai BioExplorer formed a JV called Charles River Preclinical Services Greater China, which owns and runs the facility, with Charles River being the majority partner. Dr. Kewin Jin, who is a co-founder of Shanghai BioExplorer, will serve as General Manager of Charles River Shanghai. Charles River positioned the new venture as a way to provide China-based preclinical CRO services to Charles River clients. However, in earlier comments, management has said the new venture would also seek business from domestic China biopharmas.
China Sky One Medical (CSKI.OB) also announced a landmark event at a new facility. The company said production started at the Peng Lai Jin Chuang Company (see story). China Sky One finalized the acquisition of Jin Chuang last month, paying $7.1 million in cash and stock to gain control of the company. Jin Chuang represents an unusual situation because it boasted a portfolio of twenty approved drugs and was building a manufacturing plant, but the company had not yet begun to market its drugs at the time of the acquisition. China Sky One expects Jin Chuang to contribute $3-$5 million in revenues during fiscal 2008, and to add between $1 million and $1.5 million in net income.
http://seekingalpha.com/article/100549-china-biotech-week-in-review-fda-deals-earnings
FibroGen delivers 250 jobs
South San Francisco biotech moves to Mission Bay
A quiet company with a potential blockbuster drug is setting a new standard for Mission Bay.
FibroGen Inc. is moving 250 employees from South San Francisco to San Francisco’s life sciences enclave, showcasing in its new six-story digs how biotech companies can — literally — build up in land-constrained cities.
At 239,000 square feet, plus an adjacent 211,000-square-foot structure on which FibroGen has an option, the Shorenstein Properties development is the largest project for a single biotech company in Mission Bay. FibroGen is taking more space and moving more people to Mission Bay, for example, than Pfizer Inc. will when it settles there in early 2010.
“San Francisco stepped up to the plate and made the very first and largest experience in Mission Bay smooth from the get-go,” said Tom McDonnell, vice president of leasing for Shorenstein. “Everybody’s going to be able to draft on that success.”
A quiet company with a potential blockbuster drug is setting a new standard for Mission Bay.
FibroGen Inc. is moving 250 employees from South San Francisco to San Francisco’s life sciences enclave, showcasing in its new six-story digs how biotech companies can — literally — build up in land-constrained cities.
At 239,000 square feet, plus an adjacent 211,000-square-foot structure on which FibroGen has an option, the Shorenstein Properties development is the largest project for a single biotech company in Mission Bay. FibroGen is taking more space and moving more people to Mission Bay, for example, than Pfizer Inc. will when it settles there in early 2010.
“San Francisco stepped up to the plate and made the very first and largest experience in Mission Bay smooth from the get-go,” said Tom McDonnell, vice president of leasing for Shorenstein. “Everybody’s going to be able to draft on that success.”
Female pioneers pave way in biotech research
When you think of a high tech bio research company, Hawaii may not be the first place that comes to mind, but Honolulu is home to one of the most advanced biotech companies in the country. And the scientists who work there are unique in their own right.
Tissue Genesis Incorporated stands at the forefront of advanced biotechnology and research. Its scientists work on tissue engineering and cell therapy.
"Well, we take fat cells and we put them in the TGI 1000 machine," said Elyse Ryan, a scientist at the company. "And from that, through digestion and manipulation, we're able to have these stem cells that can be used to treat patients with diabetes that may lose limbs."
And these stem cells also help patients with heart problems and other health issues. This lab helps patients all over the world.
And here's another unique aspect of Tissue Genesis. Unlike most labs which are male dominated, this place is run by women.
"I'm lucky because I have parents who................
Full Story
Tissue Genesis Incorporated stands at the forefront of advanced biotechnology and research. Its scientists work on tissue engineering and cell therapy.
"Well, we take fat cells and we put them in the TGI 1000 machine," said Elyse Ryan, a scientist at the company. "And from that, through digestion and manipulation, we're able to have these stem cells that can be used to treat patients with diabetes that may lose limbs."
And these stem cells also help patients with heart problems and other health issues. This lab helps patients all over the world.
And here's another unique aspect of Tissue Genesis. Unlike most labs which are male dominated, this place is run by women.
"I'm lucky because I have parents who................
Full Story
16 Oct 2008
Curis to Present at First Annual Boston Biotech R&D Conference
CRIS, a drug development company focused on developing the next generation of proprietary targeted medicines for cancer treatment, today announced that the Company will be presenting at the 2008 Boston Biotech R&D Conference, at 9:00 a.m. EDT on October 22, 2008, at Harvard Medical School in Cambridge, Mass.
Daniel R. Passeri, Curis' President and Chief Executive Officer, will provide an overview of the status of GDC-0449, an orally-administered small molecule inhibitor of the Hedgehog pathway that is currently in Phase II clinical testing under collaboration with Genentech. Mr. Passeri also will discuss CUDC-101, CUDC-305 and Curis' other targeted cancer programs, in addition to other corporate activities.
About Curis, Inc.
Curis is a drug development company that is committed to leveraging its innovative signaling pathway drug technologies to seek to create new targeted small molecule drug candidates for cancer. In expanding its drug development efforts in the field of cancer through its targeted cancer drug development platform, Curis is building upon its previous experiences in targeting signaling pathways for the development of next generation targeted cancer therapies. For more information, visit Curis' website at www.curis.com.
About the Boston Biotech R&D Conference
The 2008 Boston Biotech R&D Conference willtake place at Harvard Medical School and will highlight the work of top academics as well as up-and-coming biotech companies in the Boston area. The agenda features keynotes from several luminaries in medicine and research, including Jeffrey S. Flier, Dean of Harvard Medical School,Leonard Guarente, Ronald Kahn, Eric S. Lander, Robert Langer, Phillip Sharp, David Sinclair, as well asCEOs of the next generation of leading biotech and pharma companies from the Boston area. The conference is sponsored by Alexandria Real Estate Equities Inc., Pure Communications Inc., and Rodman & Renshaw, LLC. For more information, visit www.bostonbiotechconference.com.
SOURCE: Curis, Inc.
Daniel R. Passeri, Curis' President and Chief Executive Officer, will provide an overview of the status of GDC-0449, an orally-administered small molecule inhibitor of the Hedgehog pathway that is currently in Phase II clinical testing under collaboration with Genentech. Mr. Passeri also will discuss CUDC-101, CUDC-305 and Curis' other targeted cancer programs, in addition to other corporate activities.
About Curis, Inc.
Curis is a drug development company that is committed to leveraging its innovative signaling pathway drug technologies to seek to create new targeted small molecule drug candidates for cancer. In expanding its drug development efforts in the field of cancer through its targeted cancer drug development platform, Curis is building upon its previous experiences in targeting signaling pathways for the development of next generation targeted cancer therapies. For more information, visit Curis' website at www.curis.com.
About the Boston Biotech R&D Conference
The 2008 Boston Biotech R&D Conference willtake place at Harvard Medical School and will highlight the work of top academics as well as up-and-coming biotech companies in the Boston area. The agenda features keynotes from several luminaries in medicine and research, including Jeffrey S. Flier, Dean of Harvard Medical School,Leonard Guarente, Ronald Kahn, Eric S. Lander, Robert Langer, Phillip Sharp, David Sinclair, as well asCEOs of the next generation of leading biotech and pharma companies from the Boston area. The conference is sponsored by Alexandria Real Estate Equities Inc., Pure Communications Inc., and Rodman & Renshaw, LLC. For more information, visit www.bostonbiotechconference.com.
SOURCE: Curis, Inc.
Healthcare and Biotech Stocks Only Positives in Predominantly Negative Market
The recently completed third quarter will mark the fifth consecutive quarter of negative earnings growth for the S&P 500 index, says U.S. Sector strategist Brian Belski, with consensus expectations for year-over-year quarterly growth now at –7.4%.
But even that projection is overly optimistic, he says, as that represents a 1,550 basis point improvement over the second quarter - “an unlikely improvement given the challenging economic environment.”
In a research note, Mr. Belski says earnings outlooks have turned “dramatically negative” in recent weeks, with one in five companies exhibiting downward revisions. Financial and discretionary stocks once again exhibited the most dramatic negative revisions as the quarter unfolded, but the energy and materials sector also exhibited sharp pullbacks in earnings growth assumptions.Mr. Belski says that consensus expectations for the second half of 2008 (+9.4% for the S&P 500) are also “fundamentally flawed.” For example, he says, while aggressive moves by the Fed have begun to help alleviate..........
Full Story
But even that projection is overly optimistic, he says, as that represents a 1,550 basis point improvement over the second quarter - “an unlikely improvement given the challenging economic environment.”
In a research note, Mr. Belski says earnings outlooks have turned “dramatically negative” in recent weeks, with one in five companies exhibiting downward revisions. Financial and discretionary stocks once again exhibited the most dramatic negative revisions as the quarter unfolded, but the energy and materials sector also exhibited sharp pullbacks in earnings growth assumptions.Mr. Belski says that consensus expectations for the second half of 2008 (+9.4% for the S&P 500) are also “fundamentally flawed.” For example, he says, while aggressive moves by the Fed have begun to help alleviate..........
Full Story
15 Oct 2008
Biotech expects a bright future for fluorescence
FLUOROTECHNICS is a Sydney company that develops and manufactures fluorescent compounds and fluorescence-based kits for the global biotechnology sector.
Company: Fluorotechnics Limited Proposed ASX code: FLS Proposed listing date: October 21 Shares on offer: 10 million Issue price: $1
Many companies conduct close analysis of proteins and living cells as part of research and development in the commercialisation of their products. Fluorotechnics caters to the research and development sector through the manufacture of protein stains and electrophoresis gels for the separation of proteins.
Fluorotechnics aims to become a leader in this $2billion market via its innovative and proprietary fluorescent dyes and protein stains.
Joshua Terlich of wise-owl.com notes that unlike the majority of the biotech sector, Fluorotechnics has already passed the development phase for its key products and is making sales to the life sciences market.
"The company has clear revenue targets for the medium term, which include $18 million by 2010 and a net profit after tax of $14.4 million by 2011," Terlich says.
"Of particular importance is that the company does not require US Food and Drug Administration approval or have to put its products though any testing in the US or European markets, which would otherwise delay the commercialisation process." Terlich says the segmented nature of the industry, apart from the big multinationals such as GE Healthcare, Invitrogen, Qiagen and BioRad, makes it likely complementary acquisitions can be made.
However, regardless of the prospective acquisition activity, the company is already selling products and generating revenue.
"Fluorotechnics has more than 20 products up its sleeve, scheduled for gradual release through to 2011."
Fluorotechnics is raising funds to assist in the expansion of production capacity for its electrophoresis gels. It is estimated these gels will sell into a $US200 million ($281.8 million) a year market and according to management will offer advantages over competing products.
Ten million shares are on offer at $1 each, which.................
Full Story
Company: Fluorotechnics Limited Proposed ASX code: FLS Proposed listing date: October 21 Shares on offer: 10 million Issue price: $1
Many companies conduct close analysis of proteins and living cells as part of research and development in the commercialisation of their products. Fluorotechnics caters to the research and development sector through the manufacture of protein stains and electrophoresis gels for the separation of proteins.
Fluorotechnics aims to become a leader in this $2billion market via its innovative and proprietary fluorescent dyes and protein stains.
Joshua Terlich of wise-owl.com notes that unlike the majority of the biotech sector, Fluorotechnics has already passed the development phase for its key products and is making sales to the life sciences market.
"The company has clear revenue targets for the medium term, which include $18 million by 2010 and a net profit after tax of $14.4 million by 2011," Terlich says.
"Of particular importance is that the company does not require US Food and Drug Administration approval or have to put its products though any testing in the US or European markets, which would otherwise delay the commercialisation process." Terlich says the segmented nature of the industry, apart from the big multinationals such as GE Healthcare, Invitrogen, Qiagen and BioRad, makes it likely complementary acquisitions can be made.
However, regardless of the prospective acquisition activity, the company is already selling products and generating revenue.
"Fluorotechnics has more than 20 products up its sleeve, scheduled for gradual release through to 2011."
Fluorotechnics is raising funds to assist in the expansion of production capacity for its electrophoresis gels. It is estimated these gels will sell into a $US200 million ($281.8 million) a year market and according to management will offer advantages over competing products.
Ten million shares are on offer at $1 each, which.................
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BIO-Europe 2008 New Program Highlights
Only a month remains before BIO-Europe 2008, the world's largest stand-alone partnering conference, takes place in Mannheim/Heidelberg, Germany, November 17-19. In response to the continuous growth and popularity of this well established biotechnology partnering event, EBD Group is announcing additional conference program highlights to offer even greater insight into a variety of important industry topics.
Maximizing Your Deal - The Business Case for Translational Medicine in Oncology:
Led by John Freshley, Compendia Bioscience, and featuring Dr. Ganesh Iyer, MDS Pharma; Aron Knickerbocker, Genentech; and Dr. Linda Pullan, Pullan Consulting; this session will explore the current and future state of translational medicine in oncology and dealmaking.
Biotech-CMO Partnerships - Ways to Create Value:
Klaus Binder, Binder Associates and Marcel Lubben, DSM Biologics; will confront the challenges in finding the right technologies and partners to develop and manufacture biopharmaceuticals. In addition, the panel will shed light on how biotech/pharma companies can identify partners and technologies to optimize resources and accelerate timelines.
Critical Issues to Consider when Entering the U.S. Market and Partnering with U.S. Companies:
Moderator Ray Briscuso, AdvaMed 2009 and panelists Dr. Steve Bryant, Genmab; Joe Dillon, The Mattson Jack Group; Christopher Yochim, AstraZeneca; and Jorn Mueller, NovoNordisk. This workshop will examine how to get timely U.S. Food and Drug Administration approval, position products for the best reimbursement and negotiate with governments, among other critical issues.
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Maximizing Your Deal - The Business Case for Translational Medicine in Oncology:
Led by John Freshley, Compendia Bioscience, and featuring Dr. Ganesh Iyer, MDS Pharma; Aron Knickerbocker, Genentech; and Dr. Linda Pullan, Pullan Consulting; this session will explore the current and future state of translational medicine in oncology and dealmaking.
Biotech-CMO Partnerships - Ways to Create Value:
Klaus Binder, Binder Associates and Marcel Lubben, DSM Biologics; will confront the challenges in finding the right technologies and partners to develop and manufacture biopharmaceuticals. In addition, the panel will shed light on how biotech/pharma companies can identify partners and technologies to optimize resources and accelerate timelines.
Critical Issues to Consider when Entering the U.S. Market and Partnering with U.S. Companies:
Moderator Ray Briscuso, AdvaMed 2009 and panelists Dr. Steve Bryant, Genmab; Joe Dillon, The Mattson Jack Group; Christopher Yochim, AstraZeneca; and Jorn Mueller, NovoNordisk. This workshop will examine how to get timely U.S. Food and Drug Administration approval, position products for the best reimbursement and negotiate with governments, among other critical issues.
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Pharma and Biotech Will Follow the Rest of the Economic Downward Trend – a Defensive Play no Longer
October 14, 2008
Common wisdom has held for the last decade that no matter what the stock market does, pharmaceuticals and by extension biotech stocks always have solid, though not spectacular growth prospects. This leads me to the premise that pharma and biotech has been seen as a defensive play for a long time.
People may disagree with me on the notion that biotech stocks are a defensive play on the basis that the biotech industry, with the exception of Amgen, has not been generating a profit in the three decades since the cloning of human insulin, but that hasn’t carried over to biotech stocks, who have turned out to be a healthy investment (DJ Biotech Index is still up 36% on five years).
Coming back to the original argument of pharma and biotech being a defensive play, why would people have thought that in the first place? As the baby boomer generation approaches their collective retirement age—nominally beginning 2011—pharma and biotech will have their hands full catering to the needs of the affluent and worried retirees.
That simply does not hold true anymore today though, as a combined $2 trillion—or about 20% overall—of all retirement savings have been wiped out by the market collapse and subsequent credit freeze. The DJ Biotech index is down 15% on the one month period Sept. 8–Oct. 8, while the DJ Pharmaceuticals index is down about 13% for that same period.
Credit ratings have not taken a large hit so far, as virtually all players are saturated with cash. That cash will now, however, not be used to fuel the M&A machines that have been making headlines in the pharma world................
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Common wisdom has held for the last decade that no matter what the stock market does, pharmaceuticals and by extension biotech stocks always have solid, though not spectacular growth prospects. This leads me to the premise that pharma and biotech has been seen as a defensive play for a long time.
People may disagree with me on the notion that biotech stocks are a defensive play on the basis that the biotech industry, with the exception of Amgen, has not been generating a profit in the three decades since the cloning of human insulin, but that hasn’t carried over to biotech stocks, who have turned out to be a healthy investment (DJ Biotech Index is still up 36% on five years).
Coming back to the original argument of pharma and biotech being a defensive play, why would people have thought that in the first place? As the baby boomer generation approaches their collective retirement age—nominally beginning 2011—pharma and biotech will have their hands full catering to the needs of the affluent and worried retirees.
That simply does not hold true anymore today though, as a combined $2 trillion—or about 20% overall—of all retirement savings have been wiped out by the market collapse and subsequent credit freeze. The DJ Biotech index is down 15% on the one month period Sept. 8–Oct. 8, while the DJ Pharmaceuticals index is down about 13% for that same period.
Credit ratings have not taken a large hit so far, as virtually all players are saturated with cash. That cash will now, however, not be used to fuel the M&A machines that have been making headlines in the pharma world................
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14 Oct 2008
Hubbard biotech firm's work revolutionary
October 11, 2008
HUBBARD — It’s an unusual place for the future to be.
To one side is a restored steam engine that pulled mining trains in the first half of the 1900s. On the other side is a 70-year-old diner and a restored version of one of Hubbard’s first general stores.
In the middle of this Main Street nostalgia is something different: a biotechnology company that promises to change laboratory testing in the future.
NanoLogix quietly has been conducting experiments, amassing patents and meeting with scientists from the government and major corporations. All of the work revolves around something that company chief executive Bret Barnhizer calls revolutionary.
“It’s stunning someone didn’t come up with this decades ago,” he said.
NanoLogix’s products promise to create a new type of scientific testing. If Barnhizer’s vision comes true, petri dishes — the staple of lab tests for more than 100 years — would hardly be needed.
For the complete story, see Sunday's Vindicator or Vindy.com.
HUBBARD — It’s an unusual place for the future to be.
To one side is a restored steam engine that pulled mining trains in the first half of the 1900s. On the other side is a 70-year-old diner and a restored version of one of Hubbard’s first general stores.
In the middle of this Main Street nostalgia is something different: a biotechnology company that promises to change laboratory testing in the future.
NanoLogix quietly has been conducting experiments, amassing patents and meeting with scientists from the government and major corporations. All of the work revolves around something that company chief executive Bret Barnhizer calls revolutionary.
“It’s stunning someone didn’t come up with this decades ago,” he said.
NanoLogix’s products promise to create a new type of scientific testing. If Barnhizer’s vision comes true, petri dishes — the staple of lab tests for more than 100 years — would hardly be needed.
For the complete story, see Sunday's Vindicator or Vindy.com.
MDV New Rm1.5 Billion Fund For ICT & Biotech
Malaysia Debt Ventures Bhd (MDV), a wholly-owned unit of Minister of Finance Inc, today launched its RM1.5 billion Second Fund, of which RM1 billion will be for information and communication technology (ICT) and the rest for biotechnology.
Managing director/chief executive officer, Md Zubir Ansori Yahaya, said the second fund would be sourced domestically and raised via a RM1.5 billion Islamic Medium-Term Notes programme.
"This is a 15-year programme and we are dividing it into two issuances. The first is for RM500 million, which we have already got the money last month," he told reporters after the launch of the fund here today.
The launch was witnessed by Deputy Finance Minister, Datuk Kong Cho Ha, who represented Second Finance Minister, Tan Sri Nor Mohamed Yakcop. Also present was CIMB Group's chief executive officer, Datuk Seri Nazir Razak.
CIMB Investment Bank Bhd is the lead arranger and syariah adviser. Bank Islam Malaysia Bhd and RHB Investment Bank Bhd are the joint lead-managers.Md Zubir said the average cost of fund was 4.9 percent.
He, however, declined to disclose if the same cost would be applicable for the remaining fund.He said MDV expected the first tranche to be used up by September 2009.
"MDV has not seen much reduction in our list despite the global slowdown. I think with the credit crunch, more and more customers are expected to come to MDV for loans as we offer flexibility in the loans applications and payments," he said.
Md Zubir said the issuance of the rest of the RM1 billion would depend on the demand and market conditions.
"The latest fund will be an alternative to the existing conventional financing -- syariah-compliant financing programme. "The fund will be used to create new and suitable Islamic products and services to add variety and choice for our customers. It is expected to enhance MDV's revenue channels and flow," he said.On the default rate, he said, there were companies which faced difficulties to repay their loans.
"As a whole our portfolio is very healthy. The non-performing loan is at 10 percent," he said.He hoped that a total of RM900 million worth of loans would be approved, of which RM700 million would be disbursed by end-March 2009 to between 40 and 50 companies.
"About 14 companies are those involved in biotechnology," he said.Md Zubir said part of the money would be from the newly-launched fund.
"To-date, MDV has disbursed RM300 million worth of loans," he said.MDV was initially entrusted to manage the revolving RM1.6 billion fund sourced from the Japanese government through the Japan Bank for International Cooperation for ICT projects.
Source : BERNAMA, October 14, 2008
Chemcel Bio-Tech Shares at a discount of 45%
Chemcel Bio-Tech Ltd shares Monday listed at Rs 8.85 on BSE, a discount of 44.69 per cent to the issue price of Rs 16 per share.
Chemcel Biotech, currently engaged in manufacturing of agrochemicals and planning to expand into bio-diesel business, entered the capital market with an initial public offering of 1,54,00,000 equity shares of Rs 10 each at a premium of Rs 6 per share.
The net issue to the public was 1,28,00,000 shares and constituted 49.39 per cent of the post issue paid-up capital. As a part of its expansion plans, Chemcel proposes to set up a bio-diesel manufacturing plant at a cost of Rs 10.95 crore at Kondapalli near Vijaywada, Andhra Pradesh, with a capacity of 20 tpd of three shifts. It will also meet additional working capital needs on account of increased operations for the agrochemical & bio fertilizer division at Rs 9.45 crore.
13 Oct, 2008, ECONOMICTIMES.COM
13 Oct 2008
South Africa Aids research gets massive cash boost
Aids vaccine research in South Africa has received a multimillion-dollar boost. Elevation Biotech, a Johannesburg biotechnology firm, has been awarded a one-year grant - part of a $30-million (R276-million) allocation by the International Aids Vaccine Initiative for research into an Aids vaccine.Most previous research has been focused on one of the 11 clades or subtypes of HIV and those found in the northern hemisphere, but in Southern Africa, India and China, clade C, or sub-type C, is predominant. The latest research project will be to find a vaccine that will be effective for all HIV sub-types.Elevation Biotech has already attracted considerable interest in Australia and the United States for its research into a third-stage antiretroviral drug (the current drugs being used in South Africa are referred to as stage two by scientists) and is doing some of the most pioneering HIV research in the world.
Grant Napier, the managing director of the company and a world-renowned Aids scientist, said he was delighted by the grant, though he would not disclose how much it was: "It is substantial funding that allows us to investigate a highly novel HIV vaccine concept with our locally developed technology over a one-year period. Without this funding that would not be possible."Napier praised the backing Aids researchers and scientists had continued to receive from Derek Hanekom, the deputy minister...............Full Story
Grant Napier, the managing director of the company and a world-renowned Aids scientist, said he was delighted by the grant, though he would not disclose how much it was: "It is substantial funding that allows us to investigate a highly novel HIV vaccine concept with our locally developed technology over a one-year period. Without this funding that would not be possible."Napier praised the backing Aids researchers and scientists had continued to receive from Derek Hanekom, the deputy minister...............Full Story
8 Oct 2008
Best Biotech Investors' Dream Stocks
Investors are always hunting for the next big stock -- the dream stock whose price increases severalfold when the market finally discovers it. It's easy to look back and see what the 10 best stocks of the past decade were. But I'm more interested in how to find tomorrow's greatest companies.
One investing tool offers a variety of resources to help with finding tomorrow's leaders: Motley Fool CAPS. We've enlisted CAPS to screen for top biotech stocks and get the story behind them. CAPS' nifty screener will help us find stocks with:
A market cap of at least $100 million.
A three-year revenue growth rate of at least 15%.
A price-to-earnings ratio of less than 25.
Then we'll tap the collective intelligence of our 115,000-plus CAPS members to see whether these companies present real opportunities -- or whether the numbers fail to tell the true story.
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One investing tool offers a variety of resources to help with finding tomorrow's leaders: Motley Fool CAPS. We've enlisted CAPS to screen for top biotech stocks and get the story behind them. CAPS' nifty screener will help us find stocks with:
A market cap of at least $100 million.
A three-year revenue growth rate of at least 15%.
A price-to-earnings ratio of less than 25.
Then we'll tap the collective intelligence of our 115,000-plus CAPS members to see whether these companies present real opportunities -- or whether the numbers fail to tell the true story.
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Invest more in biotech, Malaysia PM urges strong sectors
Biotechnology will be the main driver of development at all of Malaysia's economic corridors, Prime Minister Datuk Seri Abdullah Ahmad Badawi said.
"I would like to see biotechnology drive all the economic corridors. These are areas where the population is multiracial and it will improve their quality of life," he said in his keynote address at the BioMalaysia 2008 conference and exhibition in Kuala Lumpur yesterday.
He urged businesses in strong sectors like palm oil to step up investment in biotechnology, and said those in other sectors, too, must apply biotechnology in their operations.
Abdullah stressed that the aim and spirit of the national biotechnology policy, launched three years ago, must be kept alive even if its implementation or approach was altered. The biotechnology policy concentrates on three major sectors -- agriculture, industrial, and medical and pharmaceutical.
"These three will find their own places in all five of the corridors," Minister of Science, Technology and Innovation Datuk Dr Maximus Ongkili said at a press conference later. He said there would also be a push for marine biotechnology in Sabah, while in Sarawak, aspects of biofuel would come into play.
He said the current financial crisis in the United States provided an opportunity for foreign investors to enhance or move their investments to Malaysia. "Because of the global scenario, Malaysia can be a suitable alternative for them to park their money," he said. With an expected economic growth of 5.5 per cent this year, Malaysia can still absorb the shock of external factors, he said. A
t a separate event, International Trade and Industry Minister Tan Sri Muhyiddin Yassin said the five investment corridors had attracted RM56.4 billion in investments as at July 31. Of these, 60 per cent or RM33.9 billion were foreign direct investments (FDI). The FDI into the growth corridors in the first seven months of the year is more than the RM33.4 billion worth of total foreign investments approved in the manufacturing sector for the whole of last year.......
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Source : NSTONLINE
"I would like to see biotechnology drive all the economic corridors. These are areas where the population is multiracial and it will improve their quality of life," he said in his keynote address at the BioMalaysia 2008 conference and exhibition in Kuala Lumpur yesterday.
He urged businesses in strong sectors like palm oil to step up investment in biotechnology, and said those in other sectors, too, must apply biotechnology in their operations.
Abdullah stressed that the aim and spirit of the national biotechnology policy, launched three years ago, must be kept alive even if its implementation or approach was altered. The biotechnology policy concentrates on three major sectors -- agriculture, industrial, and medical and pharmaceutical.
"These three will find their own places in all five of the corridors," Minister of Science, Technology and Innovation Datuk Dr Maximus Ongkili said at a press conference later. He said there would also be a push for marine biotechnology in Sabah, while in Sarawak, aspects of biofuel would come into play.
He said the current financial crisis in the United States provided an opportunity for foreign investors to enhance or move their investments to Malaysia. "Because of the global scenario, Malaysia can be a suitable alternative for them to park their money," he said. With an expected economic growth of 5.5 per cent this year, Malaysia can still absorb the shock of external factors, he said. A
t a separate event, International Trade and Industry Minister Tan Sri Muhyiddin Yassin said the five investment corridors had attracted RM56.4 billion in investments as at July 31. Of these, 60 per cent or RM33.9 billion were foreign direct investments (FDI). The FDI into the growth corridors in the first seven months of the year is more than the RM33.4 billion worth of total foreign investments approved in the manufacturing sector for the whole of last year.......
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Source : NSTONLINE
Kibow Biotech to present at EuroBio 2008, Paris.
Kibow Biotech, Inc. is pleased to announce that it has been selected to present at the EuroBio 2008 meeting to be held in Paris, October 7-9, 2008. Kibow Biotech, with headquarters in Newtown Square, Pennsylvania, is the only US-based company invited to this prestigious conference among fifteen selected international Bio-Pharma firms.
EuroBio 2008 is considered the Life Sciences Event of the European Union Presidency. Dr. Natarajan Ranganathan, VP (R&D) and interim CEO stated, "Kibow Biotech is very excited about this opportunity to present its Enteric Dialysisâ„¢ technology and its worldwide clinical applications towards chronic kidney failure in patients. It is our intention to seek European based partners to make Kibow products available to a wider audience. Through collaboration, Kibow Biotech will establish a world-wide presence."
For more information, visit http://www.kibow.com
About Kibow Biotech Kibow Biotech Inc. is an eleven-year-old, developing-stage biotechnology company having its operations in Newtown Square, PA, USA. The company's mission is dedicated to finding a simple, convenient and cost-effective worldwide solution for patients suffering kidney failure. The company's first generation product called Kibow Biotics(R), an orally consumable, enteric coated Gel Cap product formulation is composed of food grade microbes ("Probiotics") which metabolize the uremic toxins diffusing into the bowel as a consequence of increased levels of these toxins in the blood. It is targeted to help augment or maintain kidney function both for Chronic Kidney Disease (CKD) patients (pre-dialysis) and End Stage Renal Disease (ESRD) patients.
For additional information, contact: Dr. Natarajan Ranganathan CEO and VP Research and Development Kibow Biotech, Inc. 4629 West Chester Pike Newtown Square, PA 19073 USA Tel: (610) 353 5130 Fax: (610) 353 5110 Email address: rangan@kibowbiotech.com Web site: http://www.kibow.com
EuroBio 2008 is considered the Life Sciences Event of the European Union Presidency. Dr. Natarajan Ranganathan, VP (R&D) and interim CEO stated, "Kibow Biotech is very excited about this opportunity to present its Enteric Dialysisâ„¢ technology and its worldwide clinical applications towards chronic kidney failure in patients. It is our intention to seek European based partners to make Kibow products available to a wider audience. Through collaboration, Kibow Biotech will establish a world-wide presence."
For more information, visit http://www.kibow.com
About Kibow Biotech Kibow Biotech Inc. is an eleven-year-old, developing-stage biotechnology company having its operations in Newtown Square, PA, USA. The company's mission is dedicated to finding a simple, convenient and cost-effective worldwide solution for patients suffering kidney failure. The company's first generation product called Kibow Biotics(R), an orally consumable, enteric coated Gel Cap product formulation is composed of food grade microbes ("Probiotics") which metabolize the uremic toxins diffusing into the bowel as a consequence of increased levels of these toxins in the blood. It is targeted to help augment or maintain kidney function both for Chronic Kidney Disease (CKD) patients (pre-dialysis) and End Stage Renal Disease (ESRD) patients.
For additional information, contact: Dr. Natarajan Ranganathan CEO and VP Research and Development Kibow Biotech, Inc. 4629 West Chester Pike Newtown Square, PA 19073 USA Tel: (610) 353 5130 Fax: (610) 353 5110 Email address: rangan@kibowbiotech.com Web site: http://www.kibow.com
Leadership … From Big Pharma to Biotech
It has long been understood that organizational complexity and risk stand out as the primary differences between large pharmaceutical companies versus biotechnology and smaller, more specialized pharma companies. Because of these differences, leadership within these two types of organizations requires varying skill sets.
To discover exactly what it takes to lead a successful biotechnology or specialty pharmaceutical company, Partners with the retained executive search firm Heritage Partners International (HPI), recently spoke with eight leaders of life sciences companies who have held senior leadership positions at both big pharma companies (large and specialty) and biotechnology companies.
Their findings prompted an insightful and revealing article that will appear in the October issue of “Med Ad News”, and will also be available online at www.medadnews.com.
“We really enjoyed the interaction with these inspiring individuals”, noted Heritage Partners’ Kevin Butler, “and we learned a lot about the consistent experiences that they share and that have led to their success. Not surprisingly, the skills that predict success are very consistent”.
The executives that Mr. Butler and HPI Partner Tig Conger, spoke with are currently leading three different types of biotechnology or specialty pharmaceutical companies: early stage; venture capital backed; as well as publicly traded companies. Their discussions with......
FULL STORY
To discover exactly what it takes to lead a successful biotechnology or specialty pharmaceutical company, Partners with the retained executive search firm Heritage Partners International (HPI), recently spoke with eight leaders of life sciences companies who have held senior leadership positions at both big pharma companies (large and specialty) and biotechnology companies.
Their findings prompted an insightful and revealing article that will appear in the October issue of “Med Ad News”, and will also be available online at www.medadnews.com.
“We really enjoyed the interaction with these inspiring individuals”, noted Heritage Partners’ Kevin Butler, “and we learned a lot about the consistent experiences that they share and that have led to their success. Not surprisingly, the skills that predict success are very consistent”.
The executives that Mr. Butler and HPI Partner Tig Conger, spoke with are currently leading three different types of biotechnology or specialty pharmaceutical companies: early stage; venture capital backed; as well as publicly traded companies. Their discussions with......
FULL STORY
Biotech To Drive Economic Corridors | Malaysia
Prime Minister Datuk Seri Abdullah Ahmad Badawi said biotechnology is expected to drive the economic corridors in further developing various sectors like agriculture and energy.
"Biotechnology will be used in the economic corridors to develop the agricultural sector, benefit the environment, influence energy resources and the future development of scientists," he said at the opening of BioMalaysia 2008, here today.
"I would like to see biotechnology drive all the economic corridors. These are areas where the population is multiracial and it will improve their quality of life," he added.Abdullah said biotechnology had tremendous influence in the direction of the country's future while posing a challenge to industry players to innovate products and technologies.
"It will also influence future courses introduced in universities and become a huge trend," he added.Abdullah said he hoped biotechnology would result in Malaysians having a more healthy, vibrant and active lifestyle.Abdullah said Malaysia must continue to work towards building biotechnology not only as an economic sector but as a sustainable ecosystem, where scientific disoveries from local or foreign research institutions are developed for the use and betterment of the people, through a vibrant and accomodative business environment.
"The promise of biotechnology is undeniable. For Malaysia, this means a long term commitment towards exploring biotechnology's potential and also making the most of its benefits," he said.He noted that the aim and spirit of the national biotechnology policy, launched three years ago must continue, even if its implementation or approach is altered.
He added that with the commitment and collective efforts of the government and the private sector, biotechnology is set to become a significant contributor to the socio-economic well being of all Malaysians.
Meanwhile, the Minister of Science, Technology and Innovation, Datuk Dr Maximus Ongkili at a press conference after the launch said Malaysia was well positioned to attract foreign investments in biotechnology despite the global economic slowdown.
He said with the country expected to post a growth of 5.5 percent this year, Malaysia could still absorb the shock of external factors.He added that the global uncertainty was an opportunity for Malaysia as foreign investors could move their investments here."Malaysia can be an alternative place for them to park their money," he said.
Source Brenama.com
French biotechs set to lure drugmakers - survey
Tue Oct 7, 2008
French biotechnology companies' progress developing potential medicines should lead to several alliances or mergers with drugmakers in coming months, a report by the country's industry body showed on Tuesday.
The global financial crisis has put the brakes on initial public offerings but alliances with pharmaceutical companies should still give biotechs access to cash, it said.
"While awaiting the next opening of the stock market window, it is to be hoped that the financial deficits registered within the large pharmaceutical groups ... will push them towards our biotech companies," France Biotech said in its annual survey of the French sector.
"Such a development could lead to a number of strategic alliances or mergers over the coming months," it said.
The French biotech industry is approaching maturity in developing possible medicines, the survey showed, with 73 products entering the research phase and 98 experimental drugs being tested on humans in clinical development phases.
That compares with 57 drugs the pharmaceutical industry has in development as it grapples with patent expiries and a dire need for new treatments, the survey showed.
Marketing approval is pending for 10 biotech products with four available to patients.
In the first half of the year, the French biotechnology sector chiefly raised cash from venture capitalists which invested 98 million euros ($133.2 million), France Biotech said.
While opportunities for biotech IPOs -- 15 in 2007 .................
France Biotechnology Industry 2007 / 2008 dented by financial crisis
France Biotech, the association of French life science companies ( www.france-biotech.org), is to present the results of its annual survey of the biotechnology industry, "The France Biotech Annual Biotechnology Industry Report 2007 / 2008, at the EuroBiO 2008 Congress in Paris.
The report is in two parts: one part presents the key figures and major trends on the international scene while the other, comprising a survey conducted by France Biotech among French companies in the biotech sector - and provides a detailed examination of funding (venture capital, IPOs, SPOs, alliances, etc.), stakes, tendencies and initiatives and fields of applications, with various tables describing the situation in France and internationally).
"Although the promise that marked the biotech sector in 2007 was dented by the maelstrom on the international financial markets, the series of reforms, certain of which were inspired or supported by France Biotech, resulted in improvement of the environment for innovative biotechnology companies and SMEs, particularly through attribution of the Young Innovative Company Status (YIC), which has become a reference label for entrepreneurs, .............
FULL STORY
The report is in two parts: one part presents the key figures and major trends on the international scene while the other, comprising a survey conducted by France Biotech among French companies in the biotech sector - and provides a detailed examination of funding (venture capital, IPOs, SPOs, alliances, etc.), stakes, tendencies and initiatives and fields of applications, with various tables describing the situation in France and internationally).
"Although the promise that marked the biotech sector in 2007 was dented by the maelstrom on the international financial markets, the series of reforms, certain of which were inspired or supported by France Biotech, resulted in improvement of the environment for innovative biotechnology companies and SMEs, particularly through attribution of the Young Innovative Company Status (YIC), which has become a reference label for entrepreneurs, .............
FULL STORY
6 Oct 2008
Malaysia's Biotech Industry Expected To Grow 22 Percent Annually
Malaysia's biotech industry which is currently valued at RM1.3 billion is expected to grow 22 percent annually, driven largely by the development of oil palm, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Monday.
Abdullah said Malaysia should exploit its strength in the palm oil industry by focusing on new and economically viable biotech methods to produce renewable fuel."Innovative bio-refineries is a strategic area which will be looked at," he said at the third meeting of the Biotech International Advisory Panel here today.In the area of agriculture biotechnology, the government would continue to encourage the applications of biotechnology including genomic sequencing to improve crop yields, he said.
Malaysia will also deepen its strength in clinical trials in the area of health biotechnology.
Abdullah said one area to consider branching into will be genetic profiling of the population to increase the focus on preventive rather than therapeutic medicine."Focusing on these areas means refocusing government resources where necessary. It means improving coordination across all relevant agencies towards achieving faster progress in these areas," he said.At the bi-annual biotech meeting, Abdullah said many commended Malaysia on the efforts taken to improve the country's intellectual property IP protection environment, as seen in the establishment of IP court and IP enforcement.
"Malaysia is seen as one of the leading Asian countries in this regard," he said.Nevertheless, the development of a biotech driven economy is a long-term effort requiring long-term commitment.
He said Malaysia has made a very good early progress and the country should build on this momentum to chart a stronger future direction.Meanwhile, when asked on the commercial availability of biofuel in the country, Abdullah said: "We must develop the necessary infrastructure.
"He also said it will be more profitable to convert palm oil to biofuel when its price is lower. Otherwise, it wont be viable.
"The convertibility of oil for fuel can help all palm oil producers to maintain a certain level of income. They can switch. When the price is down, they can use biofuel. Then biofuel will have the added value and the price can be higher," he said.
Abdullah also spoke on the benefits of researching coconut trees which he said had similar properties.He said the research into coconut trees has been given a lot of attention and the government has spent money to rehabilitate coconut plantation.
"There is value in the development of the coconut industry. In the future, we can have a viable and profitable coconut industry because it will be as good as the oil palm industry," he added.
Source : Bernama.com October 06, 2008
Abdullah said Malaysia should exploit its strength in the palm oil industry by focusing on new and economically viable biotech methods to produce renewable fuel."Innovative bio-refineries is a strategic area which will be looked at," he said at the third meeting of the Biotech International Advisory Panel here today.In the area of agriculture biotechnology, the government would continue to encourage the applications of biotechnology including genomic sequencing to improve crop yields, he said.
Malaysia will also deepen its strength in clinical trials in the area of health biotechnology.
Abdullah said one area to consider branching into will be genetic profiling of the population to increase the focus on preventive rather than therapeutic medicine."Focusing on these areas means refocusing government resources where necessary. It means improving coordination across all relevant agencies towards achieving faster progress in these areas," he said.At the bi-annual biotech meeting, Abdullah said many commended Malaysia on the efforts taken to improve the country's intellectual property IP protection environment, as seen in the establishment of IP court and IP enforcement.
"Malaysia is seen as one of the leading Asian countries in this regard," he said.Nevertheless, the development of a biotech driven economy is a long-term effort requiring long-term commitment.
He said Malaysia has made a very good early progress and the country should build on this momentum to chart a stronger future direction.Meanwhile, when asked on the commercial availability of biofuel in the country, Abdullah said: "We must develop the necessary infrastructure.
"He also said it will be more profitable to convert palm oil to biofuel when its price is lower. Otherwise, it wont be viable.
"The convertibility of oil for fuel can help all palm oil producers to maintain a certain level of income. They can switch. When the price is down, they can use biofuel. Then biofuel will have the added value and the price can be higher," he said.
Abdullah also spoke on the benefits of researching coconut trees which he said had similar properties.He said the research into coconut trees has been given a lot of attention and the government has spent money to rehabilitate coconut plantation.
"There is value in the development of the coconut industry. In the future, we can have a viable and profitable coconut industry because it will be as good as the oil palm industry," he added.
Source : Bernama.com October 06, 2008
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