Inside Biotech
Supplement to:
sddt.com/biotech07
Local life science industry
breeds ‘serial entrepreneurs’
New companies, ideas,
capital investments boon
to regional economy
By SYDNIE MOORE
Special to the Daily Transcript
Forty years ago, no one could
have guessed that San Diego would
one day be a Mecca for a robust
biotechnology industry. But with a
troika of internationally renowned
academic centers — The Salk
Institute, University of California,
San Diego and Scripps Research
Institute — San Diego was poised
for a biotech explosion.
According to Joe Panetta, presi-
dent of BIOCOM, the Southern
California life science association,
San Diego now boasts more than
500 biotech and medical technolo-
gy companies — constituting the
pharmaceutical, diagnostic and
medical device industries — with a
work force of 37,000 and an annu-
al economic impact of $8.5 billion.
In fact, San Diego is among the top
three regions in the country for
biotech, closing in on the San
Francisco Bay Area and Boston.
A biotech legacy
Along with the city’s academic
powerhouses, also paving the way
for San Diego’s burgeoning biotech
cluster was Hybritech, a medical
diagnostic company founded by in
1978 by UCSD researchers Ivor
Royston and Howard Birndorf.
“Hybritech was the first real
biotech firm in San Diego,” says
Howard E. “Ted” Greene, who
served as its CE0 from 1979 until
1986, when it was acquired by Eli
Lilly and Co. (NYSE: ELI).
Hybritech indisputably helped
fuel San Diego’s blockbuster life
sciences industry.
“More than 100 San Diego com-
panies have been related to
Hybritech in some way,” says
Panetta, and many of today’s CEOs
were originally at Hybritech.”
In fact, the Hybritech alumni list
includes an impressive list of heavy
hitters who have gone on to launch
a series of successful ventures,
including Ligand (Nasdaq:
LGND), Idec Pharmaceuticals,
Dura, Gensia, Neurocrine
Biosciences (Nasdaq: NBIX),
Immune Response, Viagene, Gen-
Probe (Nasdaq: GPRO), Nanogen
Latest discoveries at Salk Institute fuel new scientific questions
Source: Salk Institute
Situated high above the bluffs in
Torrey Pines and overlooking the
Pacific Ocean, the Salk Institute
was founded in 1960 as a place
where some of the world’s brightest
minds would come together for the
common goal of scientific discovery.
Its 59 faculty members, including
three resident Nobel Laureates,
have kept founder Dr. Jonas Salk’s
vision alive by contributing seminal
breakthroughs in basic biological
The Salk Institute, overlooking the ocean in La Jolla, supports 59 faculty members and a scientific staff of
more than 850 conducting biological research.
(Nasdaq: NGEN), Genoptix,
Epimmune, Biosite (Nasdaq:
BSTE), Somaxon (Nasdaq: SOMX)
and many others.
Laying the groundwork
In this spirit, Hybritech also set
the stage for an enduring phenom-
enon: “serial entrepreneurship,”
another catalyst for San Diego’s
white-hot biotech industry.
According to Panetta, a serial
entrepreneur launches a new busi-
ness after having already started
and exited a previous venture, in
contrast with someone who starts a
single company and operates it as a
lifelong career.
A self-described “serial entrepre-
neur,” Greene has participated in
the founding or management of 11
medical technology companies.
Following his tenure at Hybritech,
he co-founded Amylin
Pharmaceuticals (Nasdaq: AMLN)
— a diabetes drug developer now
valued at $6 billion and the largest
independent biotech in San Diego
— and ran Biovest Partners, a ven-
ture capital fund that provided seed
funding for a half dozen local San
Diego biotech and medical device
companies, including Biosite,
Amylin, Pyxis, Vical (Nasdaq:
VICL) and Cytel.
Like Greene, Cam Garner, also
once a key player at Hybritech, is a
prototypical serial entrepreneur.
After leaving Hybritech, he was
CEO of Dura Pharmaceuticals for
10 years, which in 2001 was sold to
Elan Corp. (NYSE: ELN) in a stock
deal valued at $1.8 billion.
Since Dura, Garner has gone on
to launch or invest in a succession
of local specialty pharmaceutical
firms, including Xcel
Pharmaceuticals, SkinMedica,
Somaxon Pharmaceuticals
(Nasdaq: SOMX) and Cadence
Pharmaceuticals (Nasdaq: CADX).
In 2002, Garner and several part-
ners launched Verus
Pharmaceuticals, a pediatric-ori-
ented company with an initial focus
on the treatment of asthma, aller-
gies and related diseases and con-
ditions. The company announced
an unprecedented $98 million in
financing in 2005.
Newer generation continues
the tradition
A more recent example of a suc-
research in three general areas of
science: Molecular Biology and
Genetics; Neurosciences; and Plant
Biology. Their discoveries have con-
tinued to provide clues toward bet-
ter understanding the molecular
origins behind some of today’s most
devastating diseases including can-
cer, AIDS/HIV, Alzheimer’s and
other neurodegenerative diseases.
Some of the most recent discov-
eries have provided insight into the
underpinnings of Alzheimer’s dis-
cessful serial entrepreneurship is
Randall E. Woods, a former Eli
Lilly executive who in September
sold NovaCardia Inc., a firm
focused on cardiovascular disease,
to pharmaceutical giant Merck
(NYSE: MRK) for a total purchase
price of $366.4 million.
“Not bad for a little company
with 11 employees,” said Panetta.
In the true entrepreneurial spirit,
Woods has “now moved on,”
Panetta said, and just received $20
million in financing to launch spin-
off Sequel Pharmaceuticals.
“Both NovaCardia’s senior man-
agement team and investors joined
Sequel, a testament to everyone’s
confidence in Randy and his leader-
ship,” said Brian Farmer, vice presi-
dent of corporate development and
operations for Sequel, and a former
business development executive
with NovaCardia.
“With a proven track record of
licensing and developing drug can-
didates for cardiovascular disease,
we are pleased to support the
Sequel management team,” said
Eckard Weber, a partner at Domain
Associates, which helped finance
Sequel.
Also recently joining the ranks of
San Diego’s biotech legends is
Steven J. Mento, a microbiologist
who in 2005 sold his company Idun
— specializing in the treatment of
liver damage — to New York-based
industry leader Pfizer (NYSE: PFE)
for $300 million in cash. Mento
went on to found Conatus
Pharmaceuticals — a specialty
pharmaceutical company engaged
in the development of human ther-
apeutics to treat liver disease.
Driven by ideas
What drives dynamos like
Garner, Greene, Woods and Mento
to persevere?
In addition to some hefty finan-
cial incentives, they are certainly
motivated by science — and for-
ward-thinking ideas.
Typically, said Greene, those who
start new biotech ventures are
more interested in the product
than in operating a company. “I like
to figure out the product and don’t
want to worry about sales, manu-
facturing or facilities,” he said.
“Guys like me don’t like living in
See Entrepreneurs on 8
ease, a condition that riddles the
brain with debilitating beta amyloid
plaques and neurofibrillary tangles.
A study by Andrew Dillin, an asso-
ciate professor in the Molecular and
Cell Biology Laboratory, showed
how aging impedes the brain’s abil-
ity to clear away toxic protein
aggregates.
Dillin and his team employed the
help of tiny Methuselah worms
that, despite their advanced age,
still have a youthful spring in their
Photo courtesy of Salk Institute
Roundtable discussion
Eric Loumeau (left) of law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC, and Chris Burnley of
Phenomix Corp. were among the participants in a recent biotech roundtable hosted by The Daily
Transcript.
Private investors give vote of
confidence to stem cell bonds
By ROMAN JIMENEZ
Special to the Daily Transcript
When California voters over-
whelmingly passed Proposition 71
in 2004, a $3 billion bond initiative
to fund the state’s emerging embry-
onic stem cell research program,
some wondered how enthusiastic
individual investors would be to
buy those bonds.
The answer came on Oct. 3 when
State Treasurer Bill Lockyer
announced the first round of bond
sales, some $250 million, had con-
cluded. According to Lockyer, indi-
vidual investors accounted for 41.1
percent of the total, or $102.8 mil-
lion.
According to the Treasurer’s
office, individual investors were
only expected to account for around
13 percent of the bond commit-
ment.
“The investment by individuals
far exceeded our expectations and
shows how strongly Californians
believe in the promise of stem cell
research to cure diseases and
relieve suffering,” Lockyer said in a
crawl. These creatures proved that
slowing the aging process also
reduced the formation of toxic beta
amyloid aggregates. The finding
opens the door for development of
drugs preventing build-up of toxic
protein aggregates in the brain.
While aging is the greatest risk
factor for Alzheimer’s disease,
another study this year by Paul
Sawchenko, a professor in the
Neuronal Structure and Function
Laboratory, suggests that low levels
of stress, the kind we experience
each day, can also contribute to the
onset of Alzheimer’s disease.
The findings showed how the
brain-damaging effects of negative
emotions lead to a molecular chain
reaction that cause modification of
the tau protein, which collapses
into insoluble fibers inside neurons.
This ultimately leads to cell death.
Currently, drugs in Stage 2 clinical
trials for the treatment of depres-
sion and other mood disorders tar-
get the same receptors involved in
Sawchenko’s study.
“We may have discovered another
application,” Sawchenko said. “Such
drugs could have a prophylactic
effect or delay the progression of
Alzheimer’s disease.”
See Salk Institute on 8
Thursday, October 18, 2007 / Vol. 122, No. 209
Photo: J. Kat Woronowicz
Page 6
statement. manage any disease long term,”
A total of 18 institutional Wood added. “It’s easier on the pub-
investors (such as mutual funds, lic purse, but most importantly, it
banks or insurance companies) holds the promise of easing patient
bought the balance of the $250 mil- suffering.”
lion. Bonds were sold Oct. 3 and 4. Stemagen has established itself
Samuel H. Wood, M.D., CEO of as a leader in the field of stem cell
Stemagen, a privately held embry- research, already creating eight
onic stem cell research company, lines of embryonic stem cells from
was also pleased with the level of embryos that were excess of repro-
individual investor participation, ductive need. The company has also
calling it a “smart and progressive created multiple lines of embryonic
investment.” stem cells from unfertilized
“The public funding of human embryos incapable of reproduction.
embryonic stem cell research These “uniparental embryos” are
makes good fiscal sense. Paying to created by artificially activating an
find a cure or treatment to a disease
today is far less costly than trying to See Stem cell on 8
Growing the
biotech work force
Source: San Diego Workforce Partnership
San Diego is home to the world’s third-largest biotechnology
industry. With the success of this segment has come work force sup-
ply demands that pose a two-fold challenge to the region: How do
we motivate and prepare our youth to fill jobs that require an edu-
cational competitive edge in the fields of math, technology, life sci-
ences and others demanded by the industry? How do we arm teach-
ers with real-world curriculum that brings the classroom in line
with the occupational requirements of an ever-evolving industry?
One solution to creating a biotech work force talent pool has been
underway since the summer of 2005: the Life Sciences Summer
Institute. LSSI connects upper-level high school, university and
community college students, as well as high school teachers, with
leading companies within San Diego’s life sciences community.
“The LSSI programs are working,” said Ashley Wildrick, special
initiatives program manager of the San Diego Workforce
Partnership, “and we have results to prove it. High school students
who lacked direction now see the life sciences as a potential career
path; college students are being placed into internships that lead to
part-time and full-time positions; and research performed in par-
ticipant companies, as a result of the mentorship process, has yield-
ed patents that may influence additional job creation.”
Students gained exposure to career options, hands-on laboratory
experience, work readiness skills and mentoring by a company or
research scientist. But first, they went through Biotech “Boot Camp,”
an introduction to biotechnology laboratory work held at the
Southern California Biotechnology Center at Miramar College, sup-
plemented by materials and supplies from Invitrogen Corp.
(Nasdaq: IVGN). For each student, a paid internship within the life
sciences industry followed.
One such student, Aditi Sharma, completed the program this
summer and carried out an internship at Pfizer (NYSE: PFE). The
company then hired her part-time, while she completes bio-medical
engineering studies at UCSD.
“My internship has given me the chance to apply the knowledge
learned at school and gain a deeper appreciation and hands-on
understanding of cancer biology and its implications for scientific
progress of the future,” Sharma said. “I have developed confidence in
my skills as a scientist and researcher, developed fundamental labo-
ratory skills and the soft skills essential in the working world, and
See Work force on 7
 THURSDAY, OCTOBER 18, 2007 • Inside Biotech • THE DAILY TRANSCRIPT 3

Close-up: Stanley Crooke

Isis uses antisense technology to target more effective drugs

By MICHAEL KLAM
Special to the Daily Transcript
Drug development is risky busi-
ness. In the biotech industry, 999
out of 1,000 drugs targeted for
development will fail, according to
Dr. Stanley Crooke, CEO of Isis
Pharmaceuticals.
The Carlsbad-based company’s
successes, including its develop-
ment of antisense technology and
its progress in infectious disease
diagnosis, represent a boon for the
company and the entire industry.
For the rest of us, these advance-
ments could result in easier, longer
and healthier lives.
Here’s the general idea: Cancer
and many cardiovascular, meta-
bolic and inflammatory diseases
occur due to overproduction or
abnormal production of proteins.
Isis developed antisense technolo-
gy to target specific areas and to
disrupt the body’s process in creat-
ing these undesired proteins.
“Drug discovery and develop-
ment is about making patients
better, effecting cures and altering
the course of chronic diseases,”
said Crooke, who co-founded Isis
(Nasdaq: ISIS) in 1989. “That’s
what I’ve done with my life, and
(antisense technology) is simply a
totally novel approach.”
After 18 years and about $2 bil-
lion spent, Crooke and his col-
leagues have revolutionized the
industry.
“The key difference is that you
create a new class of drugs, design-
ing them to bind to a class of tar-
gets that have never been targeted
by drugs before: messenger RNA,”
said Crooke. “And you use genetic
information to make a precise ZIP
code to specifically attack one, and
only one, messenger RNA.”
This specificity means rapid
diagnosis, faster healing and less
side effects. Essentially, the tech-
nology goes straight to the source
of the problem, tackles it and pre-
vents growth of the disease while
promoting healing.
“Drugs are just tools that we put
in the body to do a particular job,”
said Crooke. “As a general rule, the
more specific a drug is, the better
it is, the safer it is, and the more
effective it is.”
Crooke’s interest in antisense
technology sparked while helping
to establish Bristol-Meyer’s anti-
cancer drug discovery and devel-
opment program. Prior to found-
ing Isis, he also served as president
of research and development for
SmithKline Beckman Corp., where
he coordinated the company’s
R&D activities in instruments,
diagnostics, animal health and
clinical labs.
With the backing of a number of
venture capitalists, Crooke created
Isis to pursue the dream of “creat-
ing a new platform for drug dis-
covery that will enhance produc-
tivity and make better drugs,” he
said.
The platform has since support-
ed 17 drugs in development and
one drug on the market to treat a
wide range of diseases. Isis, on a
per-capita basis, is the most prolif-
ic innovator of any company in
drug-development history, accord-
ing to Crooke. The Isis team has
issued 1,600 patents and has 3,500
patent applications in process.
“Every year, when patent
roundups are considered, we rank
along with the IBMs, the Xeroxes
and the like,” Crooke said. “What
that reflects is the level of innova-
tion in the company and our com-
mitment to tackling big ideas and
staying the course.”
Through its wholly owned sub-
sidiary Ibis Biosciences Inc., Isis
created a second technology called
the Ibis T5000 that the company
believes will radically change
infectious disease diagnosis, mak-
ing it more efficient.
“It’s estimated that if the T5000
had been up and running at time of
SARS,” Crooke said, “it would have
taken us two patients and two days
to learn that it was a viral disease,
that it was different than anything
that had been seen, and that the
last time something like it was seen
was in China two years earlier.”
The biosensor system enables
rapid identification of bacterial,
viral, fungal and other infectious
organisms, as well as analysis of
human DNA. Isis plans to eventu-
ally spin off the technology, and
Ibis Biosciences is a candidate for
merger or acquisition, Crooke said.
The company also announced in
September that it had been award-
ed $4.2 million in government
contracts to Ibis for biodefense
applications.
“We are pleased with the ongo-
ing government support and the
opportunity to continue to
advance our technology and appli-
cations in the biodefense arena,”
said Michael Treble, president of
Ibis and vice president of Isis, in a
press release. “These contracts
support the Ibis business model to
commercialize the Ibis T5000 in
multiple business sectors, includ-
ing government biodefense and
infectious disease surveillance,
health care-associated infection
control, infectious disease
research and, in the future, in vitro
diagnostics.”
Isis’ products and technology
have made it one of the most
sought-out biotech companies in
its field. In July, Isis announced it
would receive $26.5 million from
Cambridge, Mass.-based Alnylam
Pharmaceuticals under a patent
licensing agreement. The compa-
ny most recently received $5 mil-
lion to begin phase 1 of a study Photo: J. Kat Woronowicz
with Johnson & Johnson (NYSE: “Drug discovery and development is about making patients better, effecting cures and altering the course of
JNJ) on ISIS 325568, a diabetes chronic diseases,” said Stanley Crooke, CEO of Isis Pharmaceuticals.
drug candidate.
“We’re being sought out actively “This brings the greatest value to
because we have products that are our shareholders and the greatest
unique and technology that is pro- value to the widest range of
foundly revolutionary,” Crooke patients,” Crooke said.
said. “And the evidence for that is The company has received posi-
the deals that we’ve done this year.” tive results from its phase 2 clini-
Isis acquired Symphony Genesis cal trial of its cholesterol-lowering
for $120 million in late September drug candidate ISIS 301012,
and received part of a $1.2 million recently given the generic name of
National Institutes of Health mipomersen sodium. Drugs that
(NIH) grant to use the Ibis T5000 lower cholesterol — such as
in influenza surveillance research. Pfizer ’s (NYSE: PFE) Lipitor,
“There are companies that have which reaped $13 billion in sales
aligned with us that we’ve provid- in 2006 — tend to be the most
ed selective access to our patents, profitable for pharmaceutical
but our goal has been — and we’ve companies. If successful, mipom-
succeeded in this — to be in con- ersen sodium could lead Isis into
trol of the platforms,” Crooke said. profitability. The company report-
“We’ve created quite a number of ed a loss of $68.1 million in 2006.
partnerships with larger compa- Still, Isis’ stock performance in
nies.” recent years seems to reflect
Isis has also granted technology investors’ confidence in its drug
to smaller companies to focus on pipeline and recognition of what
specific elements, therapeutic the company has accomplished.
areas or technology that would be
complementary to Isis projects. See Crooke on 8

Success in dynamic VC
biotech environment
By LAURA SHAWVER
and CHRIS BURNLEY
Phenomix Corp.
Venture-capital funding is nec-
essary to drive biotechnology.
Without this support, the devel-
opment of protein-based thera-
pies from recombinant DNA tech-
nology and repurposing mono-
clonal antibodies from basic
research may never have been
applied to the wide range of
human diseases. In the hopes of
high rewards, venture capital is
willing to fund novel, high-risk
ideas, which are also at high risk
of failure.
San Diego biotechnology com-
panies have been in a mix of good
and bad news. According to Ernst
and Young, San Diego finished
2006 in second place for biotech
venture-capital funding, ahead of
the Boston-Cambridge area and
behind the four sub-regions of the
San Francisco Bay Area.
Biotechnology also secured the
lead over other sectors in venture
capital raised in the first quarter
of this year, but this amount was a
40 percent drop compared to last
year. So how does a company
attract venture capitalists and
continue to build its business
when times are tough?
Be adaptable,
maximize strengths
While it may take 10 to 12 years
to bring a drug to market, the
venture capital funding environ-
ment in biotechnology is very
dynamic. New discoveries, tech-
nologies and business models are
constantly creating an evolution
of ideas and excitement. A com-
pany must maintain a vision for
building value, but flexibility and
adaptability are key elements for
success.
Phenomix Corp., a San Diego
biotechnology company, provides
a good example. The company
was founded in 2002 based on
forward genetics, a technique that
was the basis of three Nobel Prize
Awards. At that time, venture
capital was highly attracted to
using genetic technologies to
understand human diseases. The
forward genetics platform could
be partnered with other drug dis-
covery companies, and in turn
this could fund Phenomix’ own
drug discovery and development
programs.
Shortly after Phenomix was
founded, private-equity funds
shifted their focus from platform
technologies to drug develop-
ment. In-licensing became a pop-
ular strategy for biotechnology
companies to enter into drug
development. This business model
became known as NRDO (no
research, development only).
While new companies could start
up as NRDOs, Phenomix was
established based on a specific
technology and had to find anoth-
er way to adapt to survive in this
funding environment.
Instead of rebuilding the com-
pany, Phenomix figured out how
to apply its technology and exper-
tise to leap into drug develop-
ment. The company took an
important aspect of the technolo-
gy — the early use of animal mod-
els to assess how a drug works or
might work — and crossed it with
a medicinal chemistry approach
to quickly discover better drugs
for human diseases.
Today, Phenomix has two lead
programs for treatment of dia-
betes and hepatitis C virus infec-
tion, which combined affect more
than 25 million people in the
United States. Phenomix has
secured one of the highest levels
of venture-capital support in San
Diego and thrived in the dynamic
funding environment by analyz-
ing the company’s strengths and
adapting accordingly. The compa-
ny has focused on high-value
therapeutic targets with large
commercial opportunities and
then worked rapidly to secure
intellectual property and invent
improved compounds.
Build relationships,
communicate regularly
There are many different ways
to obtain venture-funding.
Knowing the investing principles
for each venture capital firm is an
obvious step, but understanding
See VC biotech on 8
4 THURSDAY, OCTOBER 18, 2007 • Inside Biotech • THE DAILY TRANSCRIPT

Publicly Traded Biomed & Biotech Firms

Headquartered in San Diego
Ranked By Market Cap On Oct. 9, 2007

Company Name
Address
Market Cap On Ticker
Phone, Fax Fields Of Research Major Products Executive(s) and Title(s) Year Established
Oct. 9, 2007 Symbol
E-mail
URL

Amylin Pharmaceuticals Inc.

9360 Towne Centre Drive
Developing innovative medicines to Smylin, Exentide, Exenatide LAR, Daniel M. Bradbury, President/CEO; Alain D. Baron, Sr. VP,
San Diego, CA 92121
1 (858) 552-2200, (858) 552-2212
$6,337,923,000 AMLN improve the lives of people with meta- AC2592 (GLP-1), AC3056, AC Research; Mark G. Foletta, CFO/Sr. VP, Finance; Mark J. Gergen, 1987
bolic diseases 162352 (PYY[2-26]) Sr. VP, Corporate Development
ir@amylin.com
www.amylin.com

Invitrogen Corp. Research tools in kit form, catalog,

Gene cloning and expression, elec-
1600 Faraday Ave. custom products and services for
tropharesis, protein purification, char-
Carlsbad, CA 92008 biotechnology and biopharmaceutical Gregory T. Lucier, Chairman/CEO; David F. Hoffmeister, Sr.
2 (760) 603-7200, (760) 603-6500
$3,909,779,000 IVGN acterization and production, enzyme
researchers and companies worldwide VP/CFO; Karen S. Gibson, Sr. VP/CIO
1987
chemistry, molecular labation and
investor@invitrogen.com for life science discovery, develop-
detection
www.invitrogen.com ment and production

Gen-Probe Inc.
10210 Genetic Center Drive
Rapid, accurate nucleic acid tests to
San Diego, CA 92121 Nucleic acid diagnostics for human dis-
3 (858) 410-8000, (858) 410-8625
$3,716,121,000 GPRO
ease
diagnose human diseases and screen Henry L. Nordhoff, Chairman/President/CEO 1983
donated blood
ir@gen-probe.com
www.gen-probe.com

ResMed Inc.
14040 Danielson St.
Devices to treat sleep-disordered
Poway, CA 92064
4 (858) 746-2400, (858) 622-2043
$3,242,184,000 RMD Sleep-disordered breathing breathing and other respiratory disor- Peter C. Farrell, Founder/CEO; Kieran Gallahue, President 1989
ders
investorrelations@resmed.com
www.resmed.com

Illumina Inc. Jay T. Flatley, President/CEO; Christian Cabou, Sr. VP, General
Integrated array-based systems,
9885 Towne Centre Drive Counsel; Christian Henry, Sr. VP/CFO; Arthur Holden, Sr. VP/Corp.
reagents, software and services for
San Diego, CA 92121 ILMN Large-scale analysis of genetic varia- Market Development; Tristan Orpin, Sr. VP, Commercial
5 (858) 202-4500, (858) 587-4297
$3,128,722,000
tion and function
large scale genetic analysis including
Operations; John Stuelpnagel, DVM, Sr. VP/COO/General
1998
genetyping and gene expression pro-
investor@illumina.com, info@illumina.com Manager, MicroArray Business; John West, Sr. VP, General
filing
www.illumina.com Manager, DNA Sequencing

Isis Pharmaceuticals Inc. RNA-based drug discovery and devel-

1896 Rutherford Road opment to treat metabolic, cardiovas- RNA-based drug discovery and devel-
Stanley T. Crooke, Chairman/CEO; B. Lynne Parshall,
Carlsbad, CA 92008 cular, inflammatory and viral diseases, opment to treat metabolic, cardiovas-
6 (760) 931-9200, (760) 603-4650
$1,356,947,000 ISIS
and cancer; biosensor to identify infec- cular, inflammatory and viral diseases,
Director/Exec. VP/CFO/Secretary; Jeffrey M. Jonas, Exec. VP; 1989
C. Frank Bennett, Sr. VP, Research
info@isisph.com tious organisms; small molecule drugs and cancer
www.isispharm.com that bind to RNA

NuVasive Inc.
4545 Towne Centre Court
San Diego, CA 92121 NUVA Alexis V. Lukianov, Chairman/CEO; Keith Valentine,
7 (800) 455-1476, (858) 909-2000
$1,276,284,000 Medical device company Spine surgery products
President/COO; Kevin C. O’Boyle, Exec. VP/CFO
1995
info@nuvasive.com
www.nuvasive.com

DJO Inc.
1430 Decision St.
Vista, CA 92081 Products and services for the ortho- Leslie H. Cross, President/CEO; Vickie Capps, CFO/Principal
8 (760) 727-1280, (760) 734-3595
$1,173,975,000 DJO Orthopedics
pedic sports medicine market Accounting Officer/Exec. VP/Treasurer; Luke T. Faulstick, COO
1978
ir@djortho.com
www.djortho.com

Halozyme Therapeutics
11588 Sorrento Valley Road, Suite 17 cGMP Halozyme’s first recombinant Jonathan E. Lim, President/CEO/Director; Gregory I. Frost,
9 San Diego, CA 92121 $661,048,100 HALO Therapeutics and biopharmaceuticals human enzyme Cumulase and Hylenex VP/CSO/Director; David A. Ramsay, MBA, VP/CFO; Robert L. 1998
(858) 794-8889 Little, VP/CCO
www.halozyme.com

Arena Pharmaceuticals Inc.

6166 Nancy Ridge Drive
Jack Lief, Chairman/President/CEO; K.A. Ajit-Simh, VP, Quality
San Diego, CA 92121
10 (858) 453-7200, (858) 453-7210
$659,977,400 ARNA G protein-coupled receptors Drug discovery and development Systems; Dominic P. Behan, Director/Sr. VP/CSO; Robert E. 1997
Hoffman, VP, Finance/CFO
invest@arenapharm.com
www.arenapharm.com

Quidel Corp.
10165 McKellar Court Manufactures and markets point-of-
Reproduction, infectious diseases, gen-
San Diego, CA 92121 care rapid diagnostic tests for the Mark Pulido, Chairman; Caren L. Mason, President/CEO; Thomas
11 (858) 552-1100, (858) 453-4338
$656,498,500 QDEL eral health screening, bone health and
detection of medical conditions and Brown, Vice Chairman; Rod Dammeyer, President
1979
autoimmune disorders
ir@quidel.com illnesses
www.quidel.com

Acadia Pharmaceuticals Inc.

3911 Sorrento Valley Blvd.
Drug discovery and development for
San Diego, CA 92121
12 (858) 558-2871, (858) 558-2872
$589,298,000 ACAD Central nervous system disorders the treatment of central nervous sys- Uli Hacksell, CEO; Thomas H. Aasen, VP/CFO/Secretary/Treasurer 1993
tem disorders
info@acadia-pharm.com
www.acadia-pharm.com
Ligand Pharmaceuticals Inc.
10275 Science Center Drive Cancer, pain, dermatology, men’s and John Higgins, President/CEO; Martin Meglasson, VP, Discovery
San Diego, CA 92121 women’s health, osteoporesis, metabol- Avinza, ONTAK, Targretin capsules, Research; Zofia Dziewanowska, VP, Clinical Research; Syed Zazmi,
13 (858) 550-7500, (858) 550-1826
$563,291,600 LGND.PK
ic disorders, cardiovascular and inflam- Targretin gel, Panretin gel VP, Business Development Strategic Planning; John Sharp, VP,
1987
investors@ligand.com matory diseases Finance/CFO
www.ligand.com

Cypress Bioscience Inc.

4350 Executive Drive, Suite 325 Providing products for the treatment of
Jay D. Kranzler, Chairman/CEO; Sabrina Martucci Johnson, Exec.
San Diego, CA 92121 patients with functional somatic syn-
14 (858) 452-2323, (858) 452-1222
$558,159,700 CYPB
dromes and other central nervous sys-
Drugs and drug development VP/CBO/CFO; R. Michael Gendreau, VP, Clinical 1981
Development/CMO; Srinivas G. Rao, CSO
ir-info@cypressbio.com tem disorders
www.cypressbio.com

Neurocrine Biosciences Inc.

12790 El Camino Real Insomnia, anxiety, depression, diabetes,
San Diego, CA 92130 multiple sclerosis, irritable bowel syn- Joseph A. Mollica, Chairman; Gary A. Lyons, President/CEO; Kevin
15 (858) 617-7600, (858) 617-7602
$385,597,000 NBIX
drome, eating disorders, pain and
Biotechnology and drugs
Gorman, COO; Tim Coughlin, CPA, VP/CFO
1992
ir@neurocrine.com autoimmunity
www.neurocrine.com

Senomyx Inc.
4767 Nexus Centre Drive
San Diego, CA 92121 Discovery and development of savory, Kent Snyder, President/CEO; Mark J. Zoller, CSO/Exec. VP,
16 (858) 646-8300, (858) 404-0752
$362,265,300 SNMX Products relevant to taste and olfaction
sweet and salt flavors Discovery and Development; John Poyhonen, CFO/CBO/Sr. VP
1998
info@senomyx.com
www.senomyx.com
Dexcom Inc.
5555 Oberlin Drive
Glucose monitoring in people with dia- Continuous Glucose Monitoring sys-
17 San Diego, CA 92121 $302,429,300 DXCM
betes tems
Terrance H. Gregg, President/CEO; Jess Roper, Interim CFO 1999
(858) 200-0200, (858) 200-0201
www.dexcom.com
Somaxon Pharmacueticals Inc.
3721 Valley Centre Drive, Suite 500
San Diego, CA 92130 Kenneth M. Cohen, President/CEO; Susan E. Dube, Sr. VP,
18 (858) 509-3670, (858) 509-1589
$208,866,200 SOMX Pharmaceuticals Silenor
Corporate Development
2003
info@somaxon.com
www.somaxon.com

Vical Inc.
10390 Pacific Center Court
DNA vaccines for infectious diseases, Vijay B. Samant, President/CEO; Jill Church, VP/CFO/Secretary;
San Diego, CA 92121 Gene-based vaccines and pharmaceuti-
19 (858) 646-1100, (858) 646-1150
$198,318,400 VICL
cals for human therapy
gene-based cancer immunotherapies, Robin Jackman, Sr. VP, Business Operations; Alain Rolland, Sr. VP, 1987
gene-based therapeutic proteins Product Development
info@vical.com
www.vical.com

La Jolla Pharmaceutical Co.

6455 Nancy Ridge Drive
20 San Diego, CA 92121 $161,075,700 LJPC Antibody-mediated diseases Riquent, Toleragen, LJP 1082 Deirdre Gillespie, President/CEO; Niv Caviar, Exec. VP/CBO/CFO 1989
(858) 452-6600, (858) 452-6893
www.ljpc.com

Data Source: Company Web sites, Bloomberg. Ranked by Market Cap on Oct. 9, 2007. This is a partial list; a more complete listing can be found at sourcebook.sddt.com. N/A: Not Applicable, n/a: not available, wnd: would not disclose. It is not the intent of this list to endorse its
participants, nor to imply that a company's size or numerical rank indicates its quality or service. We reserve the right to edit listings or to exclude a listing due to insufficient information. Last updated 10/2007.
 THURSDAY, OCTOBER 18, 2007 • Inside Biotech • THE DAILY TRANSCRIPT 5

Close-up: Kent Snyder

Senomyx savors market niche in science of flavor enhancement

By ELIZABETH MALLOY
The Daily Transcript
The next time you bite into a
Nestlé’s candy or down a cold
Coca Cola, know that the flavor
rush might come courtesy of a
San Diego laboratory.
Senomyx (Nasdaq: SNMX) is a
La Jolla biotech company that
doesn’t create pills or insulin
trackers, but flavors. The compa-
ny has contracts with some of the
biggest names in the food indus-
try. But beyond just creating new
versions of sweet and sour, the
company is also trying to help the
food industry make its products
healthier, by creating compounds
that allow foods to be less sugary
or salty, without losing their taste.
“We’re not really trying to cre-
ate necessarily new flavors. Most
of our programs improve the
nutritional profile of the food and
beverage products,” said Kent
Snyder, president and chief exec-
utive officer of Senomyx. “In some
cases we’re trying to modulate the
taste of products, for example, by
blocking the bitter taste.”
From a business standpoint,
this helps Senomyx carve out a
nitch market. Other than a small
company in New Jersey called
Red Point Bio, there is a not a lot
of competition. Large flavor com-
panies like International Flavors
and Fragrances (NYSE: IFF) in
New York City, or Firmenich and
Givaudan in Switzerland actually
create flavors, as opposed to
working with taste modulators,
which is what Senomyx does.
Taste modulators are compounds
that react with the tongue’s taste
receptors. They’re similar to fla-
vors, but rather than creating a
certain taste, more often taste
modulators make the tongue
think something that would reg-
ularly feel salty, sweet or bitter
feel less so.
Senomyx collaborates with
Coca Cola (NYSE: KO),
Campbell’s, Nestlé, Cadbury
Schweppes (NYSE: CSG), Kraft
(NYSE: KFT), Sole and the
Japanese company Ajinomoto .
The company conducts all
research and development on site
and discovers its own compounds.
It licenses some technology, such
as the science of taste receptors,
and it does have a licensed com-
pound library. Snyder said all the
compounds that go into final
development are discovered by
Senomyx scientists.
“What we’re trying to do is to
find flavor ingredients that inter-
act with the taste receptor itself,”
Snyder explained. He used a pro-
ject they are working on to reduce
the amount of added sugar and
sweetener in food as an example.
“The way to look at it is it makes
the taste receptor act more effi-
ciently, so a lesser amount of
sugar is required to activate that
receptor. So it’s more healthy, but
sends the same sweet taste signal
to the brain as if you had some-
thing that’s fully sweetened.”
To check if their flavor modifiers
are working, Senomyx does taste
testing on site in laboratory.
Tasters are trained, then brought
to a room where they sit in a booth
and have flavors, or flavors cooked
in food, pushed to them through a
little door. A computer sits on a
desk in front of them and they
answer questions about what they
taste. Tasters are served water and
crackers to cleanse their pallets, as
if they’re tasting wine.
“We have panels of consumers
that come in on a regular basis
that are trained in certain tastes so
they can detect those,” Snyder said.
Senomyx was incorporated in
1998 and opened its labs in 2000.
The company went public in
2004. The company’s stock has
hovered around the $13 per share
mark for the past six months,
spiking as high as $15.14 in early
June, and falling as low as $10.21
in early August.
Snyder, a Kansas City native,
came to Senomyx in 2001. Before
that he’d spent about 11 years at Photo: J. Kat Woronowicz
Agouron Pharmaceuticals, which Kent Snyder, president and CEO of Senomyx, says his company is not necessarily trying to create new flavors,
is now part of Pfizer (NYSE: PFE). but rather find ways to make taste receptors act more efficiently.
The original technology for
Senomyx came out of the There is a small business develop- though neither is currently avail- Snyder said his company’s part in
University of California, San ment staff that tries to form new able in the United States. From the process is unique.
Diego. A professor named Charles collaborations for the company discovery until market generally “We’re doing something that’s
Zuker characterized mammalian with food vendors. takes Senomyx about five years. quite different than what they’re
taste receptors, and Senomyx Some of Senomyx’ products are A lot of big food companies doing,” Snyder said. “That’s why
licensed the technology. Senomyx on the market now. Nestlé is sell- Senomyx works with have their they have come to us.”
now has about 120 employees, 75 ing two products with the compa- own internal R&D teams, but elizabeth.malloy@sddt.com
percent of whom are in R&D. ny’s savory flavor ingredient, they work more on the food itself. Source Code: 20071018crf

TechTIPS takes UCSD DNA decoding maps mainstream

innovations to the public future; lower costs may make
gene sequencing more common
Source: TechTIPS
University of California, San
Diego’s Technology Transfer &
Intellectual Property Services
(TechTIPS), established in 1994,
manages UCSD’s intellectual prop-
erty. Through proper stewardship
of university intellectual property
and innovations, TechTIPS facili-
tates the transfer of UCSD innova-
tions for the public benefit;
enhances the research and educa-
tion experience of the UCSD com-
munity; promotes and targets eco-
nomic development by leveraging
UCSD innovations; and provides
incentives to researchers to stimu-
late technological innovations.
TechTIPS matches academic
innovations to business partners
that are most suited to commercial-
ize specific technologies. While
serving and protecting the interests
of the university and its
researchers, TechTIPS actively
markets available technologies
with the goal of finding corporate
partners to share in the risks and
benefits of commercializing early-
stage technologies.
From over $700 million in extra-
mural research funding per year,
UCSD researchers generate over
300 innovations annually. The
School of Medicine, School of
Pharmaceutical Sciences, Medical
Center and Division of Biological
Sciences exhibit UCSD’s strength in
the health sciences sector by con-
tributing significantly to this large
portfolio with more than 60 per-
cent of the innovations being life
sciences/biomedical technologies.
In recent fiscal years, over 70
licenses were granted annually to
commercialize life sciences and
physical sciences technologies. As
part of our technology transfer
mission, TechTIPS prefers to
license technologies to local busi-
nesses to promote regional eco-
nomic development. In some
cases, licenses are granted as the
founding technology of newly
formed companies, creating new
jobs and attracting venture capi-
tal to our region. To date, more
than 100 startup companies have
been formed with licensed inno-
vations from the TechTIPS office.
TechTIPS organizes seminars
and workshops to educate the uni-
versity community on intellectual
property and technology transfer,
and networking events to promote
university and industry interac-
tions. In addition, TechTIPS co-
sponsors entrepreneurial/network-
ing events, such as a startup boot-
camp conference and an innova-
tors’ showcase, that are open to the
business community. Recently, to
promote the licensing of university
technologies, TechTIPS has sup-
ported a $50K Business Plan
Competition organized by universi-
ty students.
For companies in search of new
technologies, TechTIPS has more
than 1,400 innovations available
for licensing. In the
biomedical/biotech area, the tech-
nologies include: therapeutics and
pharmaceuticals, delivery systems,
diagnostics, medical devices and
research reagents and tools. A list-
ing of available technologies can be
found on the TechTIPS Web site at
invent.ucsd.edu.
Source Code: 20071018cri
By KEITH J. WINSTEIN
The Wall Street Journal
This past summer, biologist J.
Craig Venter published his own
complete genetic blueprint on the
Internet, a multiyear effort that
cost more that $60 million.
Now, Dr. Venter is decoding
himself again, this time using
new, less costly technology. He
hopes by December to redo the
gene job for just $300,000.
The price of reading a person’s
genome is plummeting, raising
hope for new medical discoveries
and cures. It cost the Human
Genome Project $3 billion to
extract the first complete genetic
blueprint, which was completed
in 2003. Now four companies are
racing to bring the cost to below
$10,000.
At that price, it may become
more common for patients to
have their genes sequenced for
medical tests. Cancer researchers
hope to use sequencing to learn
what went wrong in the DNA of
cells that became tumors. Drug
In both the government-funded
Human Genome Project and
Venter’s first effort, scientists used
a technique invented in the 1970s
called Sanger sequencing to input
each piece into a computer. Then
the overlapping pieces were put
back together, with software, to
form an entire chromosome, a
painstaking process somewhat
like putting together a jigsaw puz-
zle without a picture on the front
of the box.
The new machines take advan-
tage of those existing genetic
blueprints — in effect, supplying
the missing picture. Instead of
dividing chromosomes up into
700-letter strings, the new
sequencers make the jigsaw
pieces much smaller — some-
times 25 or 30 chemical letters
long — and read many pieces at
once. For example, Helicos’
machine, which isn’t yet on the
market, will be able to scan in at
least 300 million such pieces
simultaneously, compared with
just 96 for the older machines.
$2 million to $3 million, and takes
about a month, to sequence a
human genome with its machine.
Venter says he plans to rese-
quence his own DNA for
$300,000 using a new machine
from Applera called the Solid
System. The aim is to test the
accuracy of the new, faster sys-
tems, and compare them against
the copy of Venter’s DNA pub-
lished this summer using the old
method. After that, his research
institute plans to sequence
between 10 and 30 human
genomes in 2008, with the goal of
finishing 10,000 such sequences
in the next 10 years.
Illumina says it has sold more
than 100 of its sequencers, known
as the Genome Analyzer. The
company also is one of the biggest
sellers of DNA arrays, or “gene
chips,” a hot product that allows
doctors and researchers to test if
patients have certain genes.
Sequencing, which can test for
every single gene at once, threat-
ens to make such chips obsolete, if

The Burnham Life Sciences Group: companies hope to usher in an era The newer machines run faster it can be made more affordable.
of personalized medicine with than the old methods and require “What we’ll see is sort of a gradual
custom-made medicines that fewer chemicals, which account transition in the marketplace as
change cell behavior. for the bulk of gene sequencing sequencing becomes easier and

San Diego’s recognized leader in Whichever company reaches

the $10,000 mark first has a shot
at winning a $10 million prize
costs. The new machines match
the tiny pieces to where they fit
best on the existing genetic blue-
cheaper,” said Adam Lowe, a
spokesman for Illumina.
Another candidate in the race is
offered by the X Prize prints, a process known as “rese- Helicos’s Heliscope, which the

biotech real estate for 25 years Foundation, based in Santa

The Burnham Life Sciences Group is San
Diego County’s oldest and most experienced real
estate team specializing exclusively in meeting the
unique needs of the biotechnology industry.
Beginning with Hybritech’s first facility, the Burnham
Life Sciences Group has continued to be San Diego’s
leading provider of biomedical real estate services,
routinely negotiating more than 65 percent of life sci-
ences-related leases in the region.
According to Brent Jacobs, a senior vice president
with Burnham and founder of the Life Sciences
Group, the team prides itself on being the real estate
broker of choice for life sciences firms of any stage.
“This sector of the commercial real estate industry is
so specialized that it requires a higher level of atten-
tion, involvement and understanding of the industry
itself,” said Jacobs, who is joined on the team by
Greg Bisconti and Brian Cooper. “We are structured
to provide the highest level of service possible to our
clients, and we demonstrate our dedication to their
success through personal involvement in promoting
issues of importance to the industry.”
The Burnham Life Sciences Group’s industry lead-
ership is evident by its board-level involvement in
organizations like BIOCOM and the Burnham
Institute for Medical Research.
“Not only does this help us to better understand the
challenges these life science companies face, but we
are able to better anticipate their needs and affect
positive change on their behalf,” said Bisconti, whose
roots as a financial analyst and experience as a bro-
ker in the tech-driven San Francisco Bay Area allow
him to provide bottom-line technical analyses of each
client’s real estate alternatives. As part of the CON-
NECT Framework workshops, he conducts annual
seminars on common pitfalls in laboratory leases.
Submitted by Burnham Real Estate
Monica, Calif., which is trying to
encourage faster and cheaper
quencing.”
To date, only one new machine
has successfully resequenced a
company calls the first “DNA
microscope.” Unlike the other
machines, Helicos’ skips a step
Tracking trends and translating data into concrete gene sequencing. human genetic blueprint — where pieces of DNA are duplicat-
recommendations for biotech companies is central to “Once people see the value of Roche’s 454 Genome Sequencer ed before being read into a com-
the value Burnham’s team provides to clients. The this information, nobody will FLX, which costs about puter. Helicos says that will make
team tracks inventory and vacancy trends throughout want to go backwards,” says $500,000. This summer, the com- its machine cheaper and easier to
San Diego’s lab market, and is the only group of its Venter, who has put up $500,000 pany assembled the genes of operate. The company estimates
kind to produce an annual market report based on of the prize money. James Watson, the DNA pioneer, its equipment, set for release later
these findings. The contenders — Illumina Inc. by putting together pieces of his this year, will cost $2 million.
“Staying in front of where the market is moving is (Nasdaq: ILMN), of San Diego; DNA about 250 letters each on With it, the price of sequencing a
extremely important,” Cooper said. “By analyzing Applera Corp. ’s (NYSE: ABI) top of the blueprint published by person’s genome will drop to
the trends in on- and off-market opportunities by Applied Biosystems unit in Foster the Human Genome Project. The $100,000, the company says.
submarket and square footage, we can provide real- City, Calif.; Roche Holding AG’s company estimates it costs about Source Code: 20071018crl
time recommendations to our clients that no one else (NYSE: AG) 454 Life Sciences in
can.” Branford, Conn.; and Helicos
Cooper has a hand in all aspects of marketing, BioSciences Corp. (Nasdaq:
analysis and transaction management, in addition to HLCS), of Cambridge, Mass. —
establishing new relationships. haven’t achieved the $10,000
“Our constant and multilevel involvement in the level yet. It currently costs
local biotechnology community gives us an between $300,000 and $3 mil-
unmatched level of knowledge regarding the health lion to sequence a genome. But
and future plans of biopharmaceutical companies in with better chemicals and faster
the region,” he said. “Ultimately, our ability to antic- computers, the companies say, the
ipate market trends translates into maximum negoti- cost will fall to $10,000 within a
ating power for the companies we represent.” few years.
One reason for the advances is
The Burnham Life Sciences Group is a specialized that sequencing machines no
industry group within Burnham Real Estate, a com- longer have to start from scratch.
pany providing comprehensive real estate services to Human DNA is made up of 23
clients throughout the southwestern United States. pieces, or chromosomes, and each
Established in 1891 and headquartered in San chromosome has roughly 100
Diego, the company has four regional offices in million chemical letters arranged
Southern California and one in Las Vegas. Company like beads on a string — A’s, T’s,
services include traditional brokerage along with C’s and G’s. It isn’t possible today
corporate services, asset services, capital markets, to read 100 million letters at a 625 Broadway ste. 1210
advisory services, strategic corporate consulting and time, so to sequence a person’s (619)) 238-1179
project management. Visit the Web site at San Diego, CA. 92101
DNA, researchers traditionally
www.burnhamrealestate.com. chopped up the chromosomes
into overlapping pieces, each
about 700 letters long.
6 THURSDAY, OCTOBER 18, 2007 •
Biotech roundtable
Research, entrepreneurial spirit continue
to attract life-sciences companies to region
By ELIZABETH MALLOY
The Daily Transcript
There was hand wringing in San
Diego’s life science community last
year when three of the most promi-
nent research institutes accepted
incentives from Florida to open
campuses there. But one local
leader says San Diego shouldn’t be
Magda Marquet, co-president and CEO of Althea Technologies, said
the city of San Diego doesn't have to do much to entice biotech compa -
nies to the area because “we all want to come here.”
Paul Laikind, founder and CEO of Metabasis Therapeutics, said biotech
companies see each other more as fellow collaborators than competi -
tors.
New FDA drug research center holds promise, but
critics say industry influence poses worrisome risk
By MATTHEW PERRONE
AP Business Writer
WASHINGTON (AP) — The
Food and Drug Administration is
moving with unprecedented
speed to launch a drug research
center to be paid for by companies
it regulates.
The goal of the Reagan-Udall
Foundation, approved by Congress
and signed into law late last
month, is to streamline and
improve the development of drugs
and medical devices, a goal long
sought by regulators and the
biggest players in the industry,
such as Merck & Co. Inc. (NYSE:
MRK), Pfizer Inc. (NYSE: PFE),
Wyeth (NYSE: WYE),
GlaxoSmithKline plc (NYSE:
GSK) and Johnson & Johnson
(NYSE: JNJ).
Biotech group pools efforts to meet industry needs
By SANDRA SLIVKA
and SUSAN BAXTER
San Diego Biotechnology Education Consortium
Increasingly, college graduates
and scientists are unable or find-
ing it extremely difficult to transi-
tion from academic degree pro-
grams or research institute posi-
tions to local life-sciences compa-
nies due to their lack of under-
standing of the commercial work
environment and unique industry
fundamentals. Conversely, life-
sciences companies in San Diego
continue to recruit more experi-
enced employees from other
regions or other local companies
to fill their open positions, rather
than investing in on-the-job
training of local talent. This is not
a sustainable practice for the
region due to the expense from
financial, human resources and
regional work force development
perspectives.
A consortium of universities,
community colleges and indus-
try associations in the San Diego
region plans to jointly offer a
“Life Science Industry
Immersion Course” to address
these unmet needs, from both
the candidate and employer per-
spectives.
afraid of the Sunshine State.
“We’ve got a 30-year history
here of building a foundation from
the ground up,” said Joe Panetta,
president and chief executive offi-
cer of the local biotech trade orga-
nization BIOCOM, speaking at a
recent Daily Transcript round-
table discussion. “You don’t create
At a time when the FDA’s repu-
tation has been battered by per-
ceptions that it is lax on some safe-
ty issues and too cozy with drug
makers, consumer advocates say
the loosely defined partnership
increases the agency’s vulnerabili-
ty to industry clout despite its
promise of groundbreaking suc-
cess. It’s an ambitious undertaking
that puts regulators and compa-
nies in a relationship unlike that of
any other industry.
Congress required fast-track
creation for the foundation. The
FDA filed a public notice Oct. 3
that it was accepting board nomi-
nations and will name board
members Oct. 27. Drug industry
executives will likely hold four
seats on the center’s 14-member
board. The rest will be academics,
The San Diego Biotechnology
Education Consortium was found-
ed in 2004 to serve the San Diego
biotechnology industry by sup-
porting increased collaboration
and articulation among member
educational programs, assessing
and addressing industry needs,
and facilitating placement of
interns within the industry.
Participating consortium mem-
bers include: BIOCOM, the
regional industry organization
with more than 550 members;
CONNECT, which fosters technol-
ogy and life-sciences business
entrepreneurship in the San Diego
region; the San Diego Workforce
Partnership, which provides
employment-related services to
local businesses and job seekers
through a network of countywide
One Stop Career Centers; the
California State University
Program for Research and
Education in Biotechnology (CSU-
PERB), which provides vision,
leadership and support for
biotechnology education and
research throughout the CSU sys-
tem to promote biotechnology in
California; San Diego State
University; California State
University, San Marcos; University
Inside Biotech • THE DAILY TRANSCRIPT
a biotech industry overnight, and
you certainly don’t create one of
the magnitude and at the level of
success we have here overnight.”
San Diego’s life-sciences com-
munity boasts about 500 compa-
nies of varying size, has created
35,000 to 45,000 new jobs and
has an economic impact of $8 bil-
lion to $9 billion, Panetta said. In
other parts of the country, like
Florida, state and local govern-
ments have made a big push to
bring more biotech jobs to the
area, as it’s a high-paying, clean
industry, with strong future
growth implications.
San Diego’s local government
has not offered much in terms of
incentives for people to come to
San Diego, Panetta said, but in
many ways, it doesn’t have to.
Other members of the life science
community agreed.
“The reason San Diego doesn’t
do anything is that we all want to
come here, so they don’t need to,”
said Althea Technologies co-
President and CEO Magda
Marquet, who herself came to San
Diego years ago from the small
European country of Andorra.
“Other places, they’ll give you land
for free, they’ll give you labs for
free, they’ll give you equipment,
but you still don’t want to go.”
San Diego’s weather and the
business community’s entrepre-
neurial spirit are two big draws for
the area, life science officials said,
but its history of biotech research
is what keeps it thriving. The Salk
Institute, the University of
California and the Scripps
Research Institute were all early
science pioneers, which fostered
an environment of ideas and begat
companies.
Paul Laikind, the founder and
CEO of Metabasis Therapeutics
(Nasdaq: MBRX), said biotech is
different from most industries in
that companies see each other
more as fellow collaborators than
competitors — and that’s especial-
ly true in San Diego. Panetta said
BIOCOM was created to encour-
consumer advocates and physi-
cians, with no voting seats for FDA
commissioners or staff.
The board’s makeup could allow
drugs to be developed more cheap-
ly, improving pharmaceutical
industry profits, but not necessari-
ly result in safer and less expensive
drugs for consumers, critics worry.
“Given FDA’s track record in the
past, I’m not confident in their
ability to create something that is
free of influence from industry,”
said Francesca Grifo, a director at
the Union of Concerned
Scientists. Her group and others
have argued the agency has
become too accommodating to
drug companies the past 25 years,
after they began paying FDA user
fees for the review of drug appli-
cations.
of California, San Diego
Extension; and the Southern
California Biotechnology Center,
San Diego Miramar College,
whose mission is to promote work
force development through the
California Community College
System.
The consortium plans to joint-
ly offer an intensive certificate as
a four-week program for the first
time in summer 2008. The pro-
gram will be characterized by a
competitive admissions process;
a high-quality, industry-driven
curriculum; and involved, indus-
try partnerships and sponsors.
Student participants will be
skilled scientists, with doctorates
or five years post-baccalaureate
experience in a research setting.
Expert faculty, drawn from par-
ticipating organizations and local
industry, will present principles
and practice associated with life
sciences product, process and
regulatory development.
Curriculum modules will feature
high level, expert introductions to
topics that encompass the
breadth of business and financial
principles, as well as exposure to
regulatory, ethics, legal, product
development, GXPs, marketing,
The weather, the business community’s entrepreneurial spirit and the history of biotech research are what
keep the industry thriving in San Diego, said participants in a recent roundtable discussion.
age that sense of community, and
he thinks it’s why the industry has
thrived in San Diego.
“You’ve got the people, the dol-
lars, the science and then throw in
the collaboration, and those are
the elements (for success),”
Panetta said.
Yet the life science industry is at
a disadvantage when it comes to
investors. It takes so long for an
idea to evolve into a treatment that
Wall Street often keeps a distance.
Chris Brunley of the young
company Phenomix Corp. said
most of his investors are in the
Bay Area. Phenomix set up in San
Diego, though, because company
founders liked being close to the
sources generating new technolo-
gy and to the deeply rooted com-
munity here. Now that some big
pharmaceutical companies such
as Pfizer (NYSE: PFE) have set up
branches in San Diego, smaller
companies see licensing or part-
nership opportunities as well.
Brunley said even a company of
Phenomix’s small size doesn’t
need a lot of help from the munic-
ipal government. According to
“Time and again, we’ve seen that
people within FDA behave as if
industry is their primary client,”
Grifo said.
Sen. Edward M. Kennedy, D-
Mass., a co-sponsor of the bill to
create the foundation, says the bill
requires “effective safeguards to
ensure that the foundation is inde-
pendent of both the FDA and its
donors, whether those donors are
from industry or are charitable
organizations.”
Reagan-Udall “will make new
research tools and techniques
available to the entire research
community, shortening the time it
takes to develop new drugs and
reducing costs for patients,”
Kennedy added in an e-mailed
response.
However, the law creating the
“must-know” vocabulary and job
search preparation.
The program will include in
depth, real-world case studies
and team projects. Certificate
holders will have practical
understanding of life-sciences
business and functional business
areas, familiarity with the local
San Diego business environ-
ment, and networking opportu-
nities with industry representa-
tives and experts. The aim is to
transition skilled researchers in
the region into industrial
careers, while also shortening
the orientation time companies
expect as new hires fit into the
team-based, multidisciplinary
corporate culture.
Companies and students inter-
ested in the program should con-
tact Sandy Slivka at (619) 388-
7490 or Susan Baxter at (619)
594-2822.
Slivka is director of the
Southern California
Biotechnology Center at Miramar
College, and Baxter is executive
director of the California State
University Program for Education
and Research in Biotechnology.
Source Code: 20071018crj
Joe Panetta, president and CEO of BIOCOM, said one reason the
biotech industry has succeeded here is the environment of collaboration.
Panetta, the one way San Diego
can help is to understand what the
life science industry does need
from local government. In recent
years, he said, the city of San
Diego has become a good partner.
“Where this city’s been terrific, I
think, is in creating efficiencies in
permitting and on the regulatory
center leaves crucial decisions to
the appointed board — from
where the center will be located to
how funds will be collected from
companies and distributed for
research. And there are many
unanswered ethical questions,
such as who will own patents
obtained from the foundation’s
research and how any potential
profits would be shared or distrib-
uted.
One crucial issue, though,
seems to have been decided,
according to FDA Deputy
Commissioner Janet Woodcock:
“The FDA intends to put forward
a variety of research projects that
we think are important, but as
with any foundation, the donors
will have the primary say over
how the funds are used.”
Company executives say it’s pre-
mature to comment on questions
about Reagan-Udall, but they do
say, as do FDA officials, that they
hope the foundation reverses an
alarming imbalance between how
much companies spend on drug
research and the number of drugs
making it to market. Drug R&D
spending hit $43 billion in 2006, a
150 percent increase the past
decade compared with a 2.5 per-
cent rise in the number of new
FDA drug applications during that
period.
The problem is time and money.
Companies on average spend
almost 15 years and $1 billion to
get a new drug to market, accord-
ing to the Pharmaceutical
Research and Manufacturers of
America. The drug development
process can involve tracking up to
15,000 patients taking a drug for
as long as five years.
At Reagan-Udall, FDA scien-
tists, with private-sector funding,
are hoping to do world-class
research not being done elsewhere
while giving pharmaceutical com-
panies a role in developing more
effective drug approval methods
and standards.
It’s part of the FDA’s Critical
Path Initiative, unveiled in 2004,
which calls for the agency to work
with industry and academia to
speed the “critical path” a drug
All photos by: J. Kat Woronowicz
side, and just simply understand-
ing the biotech business in a way
that’s made it easier for companies
to go in and do business with the
fire marshal or the building
department,” Panetta said. “That
wasn’t the case 15 years ago.”
elizabeth.malloy@sddt.com
Source Code: 20071018crg
travels from discovery to market.
But critics question the potential
trade-offs.
“FDA’s primary role is regulating
drugs and protecting the public
health,” said David Ross, a former
FDA safety reviewer at the
Department of Veterans Affairs.
“If you start blurring that line
between regulation and collabora-
tion, you have real problems.”
For example, Ross, who left the
FDA last year over a drug safety
dispute, is concerned, as are oth-
ers, that the FDA might be per-
suaded to quickly adopt a contro-
versial drug-testing process that
uses biological indicators, such as
blood pressure and cholesterol lev-
els, to determine a drug’s safety.
Drug companies have taken the
unusual step of sharing research
data on these indicators, called
biomarkers, to see if the size and
duration of patient drug trials can
be reduced. Some critics call their
use a high-risk gamble.
“Biomarkers are a bit like dyna-
mite in that they can be extremely
useful but they can cause a lot of
damage,” Ross said.
He cites a biomarker that sug-
gested irregular heart rhythms
were a key predictor of fatal heart
attacks. Using the assumption, doc-
tors prescribed heart-regulating
drugs to millions of patients in the
1980s, but abruptly halted the
practice in 1989 when a long-term
study revealed patients were actu-
ally more than twice as likely to die
of sudden heart failure.
FDA officials counter that HIV
biomarkers have turned out be a
reliable predictor of survival for
patients susceptible to AIDS, a
disease that can fatally damage the
body’s ability to fight off serious ill-
ness.
Rachel Behrman, who heads
FDA’s Office of Critical Path
Programs, says it’s too early to
know whether biomarker research
would be an initial project. She
wants to focus on the opportuni-
ties the center will offer.
“This has to do with being
smarter,” Behrman said. “That’s
what this initiative is about.”
Source Code: 20071018crn

Work force
Continued from Page 1
gained insight into the demands
of employers and the working
environment of the biotech indus-
try, all of which allowed me to
excel in my internship at Pfizer.”
For teachers — who are the keys
to developing the region’s future
work force — the institute provid-
ed direct experience with biotech-
nology, medical device, diagnostic
and related industry areas. They
gained hands-on laboratory cur-
riculum training, company extern-
ship experiences and curriculum
integration, along with opportuni-
ties to share and network.
The two-week paid program,
hosted in Biogen Idec’s (Nasdaq:
BIIB) Community Lab, included
one week of industry introduction
and laboratory curriculum train-
ing based on the Amgen-Bruce
Wallace Biotechnology
Laboratory Program, followed by
a week of industry experiences,
curriculum connections, and
implementation workshops. It is
estimated that each teacher
reaches an average of 189 stu-
dents per year.
To date, the institute’s Student
Internship Program has placed
118 students into hands-on indus-
try internships. The institute’s
Teacher Externship Program has
empowered 54 teachers with the
latest industry-based techniques
and curriculum. In turn, they will
have exposed over 16,000 stu-
dents to state-of-the-art career
training and information by the
end of the 2007-’08 school year.
This innovative approach was
made possible by a President’s
High Growth Job Training grant
from the Department of Labor
and administered through the San
Diego Workforce Partnership.
“This program has been a valu-
able resource to local, state and
national work force development
efforts,” said Joseph Panetta, CEO
of BIOCOM, the Southern
California life-sciences associa-
tion with more than 550 member
companies. “Further funding for
this initiative will provide science
education and training programs
designed to produce a home-
grown work force that will
address the future growth of the
life-sciences industry.”
THURSDAY, OCTOBER 18, 2007 • Inside Biotech • THE DAILY TRANSCRIPT 7
The grant has provided the
program with funding for the past
three summers. However, as with
any grant, sustainability of suc-
cessful programs becomes an
issue. The program costs about
$225,000 per year to run. If just
15 companies invest $15,000 for
the summer 2008 program, it
would mean an additional 25
teachers could be trained and 50
students placed into internships.
“Companies can also invest in
the program by sponsoring indi-
vidual students for $2,000 and
teachers for $5,000,” Wildrick
said. “Each teacher trained will go
on to reach approximately 180
students each year, increasing the
investment exponentially.”
Sharma added: “I have benefit-
ed tremendously from this experi-
ence, and I feel that students have
a lot to gain from programs like
these. Providing programs such as
LSSI is an investment in the
future of our students, as well as
the future of scientific research.”
Other partners who have made
the Institute possible include
BIOCOM, Biogen Idec, Invitrogen
Corp., Southern California
Biotech Center at Miramar and
the Amgen Foundation.
Participating company hosts
included: Accumetrics, Alexion
Antibody Technologies, Anadys
Pharmaceuticals (Nasdaq: ANDS),
Arena Pharmaceuticals (Nasdaq:
ARNA), Assure Controls Inc.,
BioServ Corp., Burnham Institute
for Medical Research, Conatus
Pharmaceuticals, Conservation and
Research for Endangered Species
(CRES), The Dow Chemical Co.,
eStudySite, Genentech (NYSE:
DNA), Genomatica, Genoptix,
Gen-Probe (Nasdaq: GPRO), Isis
Pharmaceuticals (Nasdaq: ISIS),
Karl Strauss Brewing Co., Nanogen
(Nasdaq: NGEN), Pfizer,, Salk
Institute for Biological Studies, San
Diego State University Labs,
Santaurus, SGX Pharmaceuticals
(Nasdaq: SGXP), SCBC Miramar,
SkinMedica, Sunrise Science
Products and The Scripps Research
Institute.
For more information on the
program, contact Ashley Wildrick
at the San Diego Workforce
Partnership, (619) 228-2965.
Source Code: 20071018crd
8 THURSDAY, OCTOBER 18, 2007 •
Entrepreneurs
Continued from Page 1
a rigid system, we like to question
things, so when companies grow
beyond expectations and what we
enjoy, we pass the baton,” Greene
added.
Not surprisingly, it takes a cer-
tain personality type to be a serial
entrepreneur. “The types of people
who start biotech companies are
typically uncomfortable in large,
conservative corporations,” he said.
“They are risk takers. In a large cor-
porate environment, they can’t take
the same risks.”
Panetta agreed. Most serial entre-
preneurs are intrigued by the “excite-
ment and vision of early-stage com-
pany growth, not the day-to-day
operations of a large commercial
VC biotech
Continued from Page 3
the trends and directions in ven-
ture funding before raising money
is essential.
Meet with venture firms prior
to formally raising a new round of
financing. This approach pro-
vides knowledge on the expecta-
tions and preferences of the
investors. The feedback can be
used to design programs, obtain
insight into commercial implica-
tions and determine the competi-
tive landscape.
Use the time in between
rounds of fundraising to build
relationships and meet with ven-
ture capitalists to receive feed-
back. After explaining what the
company does, follow up with
questions, such as: Do you like
the story? If we get to the next
point in our programs, would
you be interested in hearing the
story again? Would you invest in
the company at point B to get to
point C?
A “no” answer to any of the
above questions leads to an
entity. Frequently, they will get to a
certain stage, then move on or sell
the company.”
The end result is ultimately good
for science — and good for San
Diego. “Creating companies more
quickly than companies are going
out of business or merging creates a
good distribution of companies at
every level,” Panetta said.
A boon to the economy
Serial entrepreneurs also help
spawn a temperate climate for ven-
ture capital. “Past successes certainly
attract venture capital,” said Richard
Mejia, director of life sciences for the
pacific southwest region of Ernst &
Young. To a large degree, “venture
capitalists are looking for people
opportunity to listen and learn.
Phenomix asked investors to
expand on how the company did
not fit their investment strategy.
Listening and learning, Phenomix
began utilizing its technology
platform for drug discovery in the
second year, so that drugs were in
the pipeline by the next round of
fundraising in 2004.
The Phenomix approach may
be longer and more time-consum-
ing, but the resultant relationship
that is built will help the company
and its investors survive difficult
periods, such as development
hurdles or direction shifts.
Regular communication with a
company’s investors establishes a
higher level of trust that the com-
pany will handle the issues and
deliver on its promises.
Shawver is chief executive offi-
cer, and Burnley is executive vice
president and chief operating offi-
cer at Phenomix Corp. in San
Diego.
Source Code: 20071018crh
Inside Biotech • THE DAILY TRANSCRIPT
who have been successful and done it
all before; this certainly lends credi-
bility.”
Ultimately, serial entrepreneur-
ships offer a boon to the San Diego
economy. “Right now we are seeing
large amounts of money going to
investments that will yield revenue
— products that are close to being
developed and approved,” Mejia
said.
Last year, according to Ernst &
Young/Dow Jones Venture One,
venture capital investment in
Southern California for the life sci-
ence industry topped $900 million.
Stem cell
Continued from Page 1
egg, a process that can mimic nor-
mal fertilization for a short time.
Because these “parthenogenetic”
embryos are incapable of reproduc-
tion, it is expected that they will be
less controversial than stem cells
derived from reproductively viable
embryos.
Stemagen also has been expand-
ing its work in somatic cell nuclear
transfer (SCNT), commonly called
“therapeutic cloning.” The company
currently anticipates an upcoming
announcement on its achievements
in this discipline thus far.
When Proposition 71 was passed,
the legislation called for the creation
of an oversight body called the
California Institute for Regenerative
Medicine (CIRM) to handle the dis-
bursal of grants and monies.
CIRM Chairman Robert N. Klein
said, “The strong participation of
individual investors in the first sale
of stem cell research bonds is
deeply gratifying. Certainly many of
the investors are patients suffering
from debilitating disease or injury.
They’re making an investment in
their future — not simply their
financial future, but their future
quality of life. We are grateful to all
Despite the never-ending proces-
sion of new businesses, there is a
cohesiveness and synchronicity
within San Diego’s biotech industry
— the players often depend on each
for collective brainpower.
Greene said he enjoys lending his
expertise to the younger genera-
tion, many of whom have worked
for him in the past: “It’s like having
grandchildren, all of the fun, none
of the headaches.”
Moore is a San Diego-based
freelance writer.
Source Code: 20071018cra
of them for their continued sup-
port. We very much appreciate the
efforts of State Treasurer Bill
Lockyer, his deputy, Paul
Rosenstiel, his staff, and all the
underwriters for making this his-
toric bond offering so successful.”
While so far Proposition 71 funds
have been only available for non-
profit organizations, Stemagen’s
Wood said he expects CIRM to
begin issuing for-profit applications
sometime in early 2008.
He calls that a necessary step.
“Sometimes when you apply a
‘business’ approach to research,
you’re able to be more efficient and
make more progress,” he said.
“When CIRM makes Prop. 71 funds
available to for-profit companies
like Stemagen, we will have to con-
tinue to show real progress.”
Fortunately, Wood feels
Stemagen is already uniquely posi-
tioned to stand out among its
friendly competitors because of its
notable work and staff, led by Chief
Scientific Officer Andrew J. French,
acknowledged worldwide as an
expert in SCNT and other mam-
malian cloning technologies.
“With our scientific platform led
by one of the most experienced sci-
Crooke
Continued from Page 3
The stock hovered around $3 a
share two years ago and trades at
about $17 today.
“This makes the ability to
acquire capital from the public
market much easier,” he said. “The
financial market is beginning to
recognize the potential value of the
drugs and the technology that
we’ve created.”
The company, Crooke said, has
achieved success through the
intensity, work efforts and commit-
ment of team members. Isis has
had extraordinarily low turnover,
entists in the world,” Wood said,
“we feel confident in our abilities to
attract funding when the time is
right.”
Now, with the unexpectedly
strong response from individual
investors in stem cell bonds, that
funding was made all the more
available.
The interest rate on the bonds
will be 5.168 percent, which is more
than one percentage point above
the current rate on a three-year U.S.
Salk Institute
Continued from Page 1
Juan Carlos Izpisúa Belmonte, a
professor in the Gene Expression
Laboratory, garnered international
attention most recently when he
and his team published a study
explaining how they regenerated
the wing of a chick embryo — a
species not known for its ability to
regrow limbs.
By manipulating a specific cell-
signaling pathway, Belmonte was
able to deactivate the system in ani-
mals with the ability to regrow
limbs (salamanders, frogs and
zebra fish), while activating it in
chick embryos, which regenerated a
perfectly functioning wing after
removing the original appendage.
The study suggests that the poten-
tial for such regeneration exists
innately in all vertebrates, includ-
ing humans.
While manipulating the same
system in humans is not possible at
this point, Belmonte hopes these
findings may eventually offer
insights into current research
examining the ability of stem cells
to build new human body tissues
and parts.
The Salk Institute’s stem cell pro-
gram has continued to strengthen
with the help of philanthropic con-
tributions and more than $7.4 mil-
lion in grants provided by the
California Institute for Regenerative
Medicine. Construction is already
underway at Salk on a new stem cell
core facility that will serve as a
BIOCOM Investor Conference to
showcase biotech, med tech firms
Source: BIOCOM
Offering investors an easy way
to learn more about the Southern
California life science industry,
BIOCOM will host its second
annual BIOCOM and
Montgomery & Co. Investor
Conference on Nov. 1 and 2 at the
San Diego Marriott Del Mar.
With 58 companies presenting,
the conference gives both public
and private life science compa-
nies a chance to give their 20-
minute investor presentations to
a wide variety of venture, private
equity, institutional and retail
investors.
“Very rarely does a small private
startup like Tracon Pharmaceuticals
get to present alongside estab-
lished biotech leaders like Amylin
Pharmaceuticals ,” said Ian
Wisenberg, BIOCOM’s senior vice
president. “We want this confer-
ence to become the place for
Southern California biotech, med
tech and device companies to be
able to showcase themselves.”
Established as part of
BIOCOM’s broader efforts to
raise the amount of investment in
and awareness of the region’s life
science companies, the investor
conference is in its second year
after hosting more than 300
attendees to presentations from
48 companies at the same loca-
tion in 2006.
“With Montgomery & Co. as
our presenting sponsor this year,
our committee, staff and advisory
board have worked very hard to
secure top-level sponsors and pre-
senters,” Wisenberg said.
Sponsors at the 2007 Investor
Conference include Acumen
BioFin, CIBC World Markets,
UBS Investment Bank,
Alexandria Real Estate Equities,
he added, not because the road has
been easy, but because of the qual-
ity of the dream.
“No one ever claimed that work-
ing at Isis was easy. It’s demand-
ing, but I do think it’s rewarding,
and most people stay because it’s
an environment where intelligence
and innovation are rewarded,” he
said.
“And what we’re trying to do has
great merit.”
Klam is a San Diego-based free-
lance writer.
Source Code: 20071018cre
Treasury note.
The $250 million sale will pro-
vide the nation’s largest-ever state
investment in human embryonic
stem cell research. It also marks the
first time general obligation bonds
have ever been used to directly
finance the development of intellec-
tual capital.
Jimenez is a San Diego-based
freelance writer.
Source Code: 20071018crb
training center for the next genera-
tion of scientists who work in this
very promising field of research.
Further securing Salk’s commit-
ment to this emerging field is the
institute’s participation in the San
Diego Consortium for Regenerative
Medicine. Salk’s contribution to
this historic partnership is its team
of established stem cell experts as
well as scientists whose work in
gene expression and related fields is
central to understanding how stem
cells can be developed for therapeu-
tic purposes.
Looking ahead, the institute is
also interested in the burgeoning
field of live cell imaging and bio-
photonics, which uses single quan-
tum units of light to “see” mole-
cules. Applying such advanced
technology overcomes the resolu-
tion limit of light microscopy and
enables scientists to understand
how single molecules and cells
function in real time and decipher
what goes wrong when they mal-
function.
Knowledge gained from this
advanced technology will help
resolve still-unanswered ques-
tions surrounding many human
conditions. It will also enable Salk
scientists to ask new questions
about biological systems, trans-
form the way they analyze com-
plex systems such as the brain and
revolutionize the way diseases are
treated.
Source Code: 20071018crc
Biomed Realty Trust Inc. and
California Manufacturing
Technology Consulting.
Supporting sponsors include
BioCentury, California Equity
Research, Dow Jones, Porter
Novelli Life Sciences and RR
Donnelley, while affiliate spon-
sors include Bank of America,
Mentus Life Science and PR
Newswire.
The format of the conference
will be an opening reception on
the evening of Oct. 31, and then
two full days with 58 company
presentations, ending early Friday
afternoon.
John McCamant, editor of the
Medical Technology Stock Letter,
San Diego Mayor Jerry Sanders
and George Montgomery of
Montgomery & Co. will be speak-
ers at the conference.
With 20 years of experience
editing an influential biotech
investment newsletter,
McCamant has become one of the
most quoted experts in the life
science industry. He will talk
about Medical Technology Stock
Letter’s investment philosophy,
using companies from Southern
California as examples of what
they look for in life science invest-
ments.
San Diego Mayor Sanders will
discuss righting the city’s financial
ship, while George Montgomery,
managing director of health care
banking, will host a panel on cur-
rent trends in life science financ-
ing and investment.
More information on the
Investor Conference, including
the agenda for the conference, is
available at www.BIOCOM.org.
Accredited investors will be
admitted for free.
Source Code: 20071018crp