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   Biotech / MedicalParadigm Genetics -- PDGM


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To: tuck who wrote (71)5/21/2003 3:45:08 AM
From: nigel bates
   of 101
 
Clearly got wind of the Canadian 'mad cow' thing. <g>

Stock was up over 20% at one stage yesterday. Proteome Sciences (PRM.L), also involved in prion testing, this morning sports an improbable capitalisation of around $260m.

Bio-Rad jumps on 'mad cow' case
Paradigm, VI Tech stand to gain from more testing
By Greg Morcroft, CBS.MarketWatch.com
Last Update: 5:29 PM ET May 20, 2003

NEW YORK (CBS.MW) -- Shares of clinical testing firm Bio-Rad Laboratories jumped 12.5 percent Tuesday on the likelihood the company will benefit from increased testing for "mad cow disease" after a case was confirmed in Canada.

Canadian agricultural officials said an 8-year-old cow in the province of Alberta had turned up with the disease, called bovine spongiform encephalopathy (BSE). While the animal was tested for the malady after being slaughtered on Jan. 31, the results were not known until last week.

"This is important," Deutsche Banc Securities said in a research note, adding, "the case could trigger widespread testing in both Canada and the United States, leading to potential upside for Bio-Rad."

Bio-Rad (BIO: news, chart, profile) shares closed up $6.10 at $54.95, a 52-week high.

Paradigm Genetics (PDGM: news, chart, profile), which is also developing blood-based tests for detecting the disease in humans and animals with Switerland's Prionics AG, saw its shares rise 6.1 percent, or 6 cents to $1.06.

And VI Technologies (VITX: news, chart, profile) shares jumped 27.3 percent, or 24 cents, to $1.20.

According to VI Tech's Web site, the company "is developing a diagnostic test for pathogenic prion proteins." Prion proteins can cause the disease in cows and are also behind the variant Creutzfeldt-Jakob disease in humans, "which is 100 percent fatal and for which no therapy or diagnostic currently exists," the company said.

According to Baird U.S. Equity Research, "Alberta accounts for nearly 60 percent of Canada's beef production and has about 5.5 million head of cattle. According to government reports, over 500,000 live head of cattle were shipped from Alberta to the U.S. in 2002."

After Canada announced the case, U.S. officials temporarily banned imports of meat products from Canada.

Baird said it's not aware of an official BSE test approved by Canada, but it said Bio-Rad's Platelia test was the first U.S.-approved screen for the chronic wasting disease in deer, a condition related to BSE.

Baird said testing for BSE accounts for about 10 to 12 percent of Bio-Rad's revenue and provides operating margins of 20 to 25 percent.

"We view the unfortunate news as incrementally positive for BIO, but we believe significant revenue opportunities will not arise unless long-term, widespread testing becomes official," the report concluded.

The disease is difficult to detect, and testing can only be done on dead animals.

Deutsche Banc estimated that the total market for BSE testing in Canada at $24.4 million and $200 million per year in the United States.

A BSE epidemic afflicted Britain's cattle in the mid-1990s, leading other countries to ban import of British beef. A 2000 outbreak in France raised similar concerns, and the European Union ordered the destruction of older cattle that hadn't been tested for BSE...

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To: nigel bates who wrote (72)5/21/2003 4:53:48 PM
From: tuck
   of 101
 
It was news to me that PDGM was involved with BSE. Sure enough, MarketWatch botched that and corrected today:

>>On May 20 and 21, CBS MarketWatch incorrectly reported the status of work by Paradigm Genetics (PDGM: news, chart, profile) on developing tests for detecting "mad cow" disease. The company was working on such a project in 2000 and 2001 but is not doing so now, according to a company spokesman.<<

Oops. Meanwhile, BIO got a 6 point pop out of it, which is a bit much. Somewhat tempted to short it.

Cheers, Tuck

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To: tuck who wrote (73)5/22/2003 3:21:07 AM
From: nigel bates
   of 101
 
First time I'd heard of it, too: it'll teach me to check MarketWatch reports in future.

I don't hold any PDGM right now, but I wouldn't short them.

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To: tuck who started this subject5/27/2003 9:43:30 AM
From: tuck
   of 101
 
>>RESEARCH TRIANGLE PARK, N.C., May 27 /PRNewswire-FirstCall/ --
Paradigm Genetics, Inc. (Nasdaq: PDGM - News) today announced that genes analyzed and confirmed as "hits" in its Arabidopsis thaliana GeneFunction Factory(TM) platform have moved into Monsanto Company's corn and soybean research-and- development testing pipeline. These genes may affect valuable agronomic traits, such as increased growth rates and stress resistance.

"We have been very pleased with the results from Paradigm's research and the success of our collaboration thus far," said Stephen Padgette, Ph.D., Vice President, Biotechnology, Monsanto Company. "The fact that we've received confirmed hits from Paradigm means the process of moving promising genes into crop testing at Monsanto is substantially expedited."

"This is a tremendous success for Paradigm," said Heinrich Gugger, Ph.D. "Over the years, we have demonstrated our leadership in determining the function of genes in plants. Now that Monsanto is incorporating genes analyzed by Paradigm into its crop trait pipeline, the potential for the commercial value of our research has clearly increased. This exciting step strengthens our current collaboration and open new doors in our relationship with Monsanto."

In its collaboration with Monsanto, Paradigm is running thousands of genes through its Gene Function Factory(TM) platform for the purpose of discovering those that can affect commercially relevant traits. As part of its recently restructured research plan, Paradigm also reanalyzes a select subset of the genes, a step that provides statistically rigorous confirmation of the genes' ability to affect valuable agronomic traits.<<

snip

Cheers, Tuck

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To: tuck who started this subject6/6/2003 2:31:57 PM
From: tuck
   of 101
 
>.Paradigm Genetics, Inc. (Nasdaq: PDGM - News) today announced that it has received notice from The Nasdaq Stock Market, Inc. that the company's common stock is now in compliance with the $1.00 minimum closing bid price requirement, pursuant to Marketplace Rule 4450(a)(5). As Paradigm has remained in compliance with all other listing criteria, the company's stock will continue to be listed on the Nasdaq National Market.

"Today, we have added a critical chapter to Paradigm's turnaround story," said Philip R. Alfano, Vice President, Finance, and Chief Financial Officer. "We have diligently and consistently executed on our corporate strategy, and the marketplace has responded. Now we can more fully focus on building greater value in the company. We appreciate the support from Nasdaq as we overcame the temporary decline in our stock price, which had fallen below the minimum bid price requirement."

In April, Paradigm received notification from Nasdaq granting the company an extension until July 3, 2003 to re-establish compliance with the Nasdaq National Market's minimum bid price requirement. Since then, Paradigm has continued to make progress in its strategy of expanding its agricultural customer base and building its human health business. Highlights include an $8.4 million addition to the company's $23.8 million contract with the National Institute of Environmental Health Sciences; the announced improvement in cash flow for first quarter 2003 as compared to first quarter 2002; the issuance of a U.S. patent for its proprietary TAG-KO(TM) technology; the announcement of the entrance of genes analyzed and confirmed as "hits" by the company into Monsanto Company's corn and soybean research-and-development testing; and significant personnel appointments in its human health business.<<

snip

Cheers, Tuck

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To: tuck who started this subject9/30/2003 11:39:51 AM
From: nigel bates
   of 101
 
Paradigm Genetics and University of North Carolina Enter Collaboration To Identify Biomarkers of Choline Deficiency

RESEARCH TRIANGLE PARK, N.C., Sept. 30 /PRNewswire-FirstCall/ -- Paradigm Genetics, Inc. (Nasdaq: PDGM - News), a biotechnology company, today announced it has entered into a research collaboration with the University of North Carolina at Chapel Hill to identify biomarkers indicative of choline deficiency, a physiological state that has been implicated in the onset of liver damage in humans.

Under the terms of the agreement, UNC-CH will provide to Paradigm serum and urine samples collected as part of its research to determine the required daily amount of choline. Paradigm Genetics researchers will then perform biochemical analyses on the biofluid samples and identify the pathways and mechanisms that may be involved.

"Choline deficiency is known to cause progressive liver damage and has been associated with increased risk of hepatic cancer in experimental models. Current serum markers of liver injury lack the sensitivity and specificity to differentiate among patients with simple or more complex forms of liver disease, and often fail to signal its early onset," said Thomas J. Colatsky, Ph.D., Vice President of Healthcare Research for Paradigm. "This collaboration extends our access to clinical samples from patients with hepatotoxicity, and provides us with an opportunity to continue to build our portfolio of proprietary biomarkers of liver injury."

Choline is an essential nutrient that plays a critical role in normal cellular membrane composition and repair, normal brain function and normal cardiovascular function. The human body does not synthesize enough choline to meet its own demands; however, choline is widely distributed in foods. The Food and Nutrition Board of the National Academy of Sciences has recently recommended increased choline intake for pregnant and nursing women to help ensure normal fetal brain development. Choline intake may also be helpful in some liver diseases, manic conditions, cognitive disorders, tardive dyskinesia and, possibly, some cancers.

About Paradigm Genetics

Paradigm is a biotechnology company that increases R&D productivity by focusing its integrated suite of technologies on the product development cycle, from target discovery to subsequent enhancement of the safety and efficacy profiles of development candidates in agriculture and human health. Paradigm uses a systems biology approach to understand gene function in the context of biological pathways, to develop assays and biomarkers for molecular diagnostic solutions tailored to the needs of our partners. Paradigm's proprietary Gene to Cell to System(TM) approach has four major components: gene expression profiling, biochemical profiling (also known as metabolomics), phenotypic profiling and data integration and coherence. For more information, visit www.paradigmgenetics.com.

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To: tuck who started this subject10/23/2003 11:44:33 AM
From: nigel bates
   of 101
 
Paradigm Genetics Receives U.S. Patent for Fungicide Target; Target Part of Fungal Pathway for Lysine Production

RESEARCH TRIANGLE PARK, N.C., Oct. 23 /PRNewswire-FirstCall/ -- Paradigm Genetics, Inc. (Nasdaq: PDGM - News), a biotechnology company, today announced that the company has been issued U.S. Patent No. 6,632,631, titled "Methods for the Identification of Inhibitors of Homocitrate Synthase as Antibiotics." The patent covers a gene target (homocitrate synthase) in the biosynthetic pathway by which fungi produce lysine, a nutrient necessary for fungi to thrive, as well as methods enabling the discovery of chemicals that inhibit enzymatic steps within the lysine pathway. Chemical compounds discovered by Paradigm's patented method may lead to the development of novel, less toxic fungicides or antifungals, which are highly sought after in the agricultural industry.

"The pathway used by fungi to make lysine is not present in humans and animals, and is very different from the lysine production pathway in plants," said Keith Davis, Ph.D., Vice President of Agricultural Research. "By focusing on fungal-specific pathways, such as lysine production, scientists can identify more selective and safer antifungal compounds. Our patented gene target is a critical first step in this powerful approach, and we expect that large agrochemical companies may be interested in licensing rights related to this patent for the development of effective, less toxic fungicidal products."

Paradigm used its patented TAG-KO® technology (U.S. Patent No. 6,562,624) to identify the target in the lysine pathway. Davis continued, "This discovery validates our TAG-KO® technology as a very compelling tool for the discovery and development of new antibiotic compounds such as new fungicides and human antifungals."

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To: tuck who started this subject11/17/2003 3:30:03 PM
From: nigel bates
   of 101
 
Paradigm Genetics Signs Two-Year Extension With Bayer CropScience
Monday November 17, 8:32 am ET

RESEARCH TRIANGLE PARK, N.C., Nov. 17 /PRNewswire-FirstCall/ -- Paradigm Genetics, Inc. (Nasdaq: PDGM - News), a biotechnology company, today announced that it has signed a two-year extension of its herbicide discovery collaboration with Bayer CropScience, which would take the partnership through September 2006. This extension, the second since the initiation of this program, is structured similarly to the base contract, to include research funds and success fees for assay deliveries.

"We are very pleased that Bayer has elected to extend our collaboration into 2006. This agreement underscores the vital role we play in their herbicide discovery program and is a strong validation of the sustained value of our research capabilities," said Heinrich Gugger, Ph.D., President and CEO for Paradigm Genetics. "This extension will allow us to further exploit for Bayer the large number of validated herbicide targets discovered during this collaboration."

"Our decision to extend this partnership with Paradigm Genetics was based on the high level of success we have had to date with this program," said Dr. Klaus Stenzel, Head of Global Target Research of Bayer CropScience. "We've been impressed with the quantity and quality of targets and assays Paradigm has delivered. Together we are building a strong proprietary position to secure the use of important genomic technologies in herbicide research."

Paradigm's herbicide partnership with Bayer began in October 1998 with the objective of discovering a portfolio of novel herbicide products that will be developed and marketed by Bayer. The term of the original agreement was three years with an initial option to extend the relationship another two. The first extension was signed in September 2001. To date, Paradigm has analyzed thousands of plant genes, identified hundreds of novel herbicide targets and delivered numerous assays for use in Bayer CropScience's high throughput chemical screening facility. Payments to Paradigm include committed research funds, fees for assays delivered and milestone payments. The agreement includes success fees and possible royalty payments to Paradigm for any commercial herbicides that might emerge from the collaboration.

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To: nigel bates who wrote (79)11/20/2003 9:42:31 AM
From: nigel bates
   of 101
 
Paradigm Genetics Signs Fungicide Evaluation Agreement With Bayer CropScience
Thursday November 20, 8:35 am ET
Screening tests may lead to future licensing agreement

RESEARCH TRIANGLE PARK, N.C., Nov. 20 /PRNewswire-FirstCall/ -- Paradigm Genetics, Inc. (Nasdaq: PDGM - News), a biotechnology company, today announced that it has signed a fungicide evaluation agreement with Bayer CropScience whereby Bayer will test a select number of chemical compounds validated in Paradigm's fungicide screening program. The testing will take place at Bayer's research headquarters in Monheim, Germany. Financial terms were not disclosed.

If the screening tests are successful, Bayer has the option to enter into an exclusive licensing agreement with Paradigm to develop the lead chemicals into commercial fungicides. Under this scenario, Paradigm could receive a combination of research payments, exclusivity payments, milestone payments, and/or royalties for the lead compounds.

"While our partnered programs in herbicide discovery and crop traits occupy center stage in our agricultural business, we have had a successful internal fungicide discovery program in which we've analyzed more than 250 targets and validated more than 50. This program has been supported by a carefully crafted patent strategy, as evidenced by our recently issued U.S. patents," said Keith Davis, Ph.D., Vice President, Agricultural Research of Paradigm Genetics. "In recent months, we've found there to be greater interest in licensing our fungicide assets. This agreement with Bayer represents an important first step in commercializing discoveries resulting from our fungicide program."

In 2003, Paradigm received two U.S. patents that may lead to the development of novel, less toxic fungicides or antifungals, which are highly sought after in the agricultural industry.

The first patent covers a fungicide target found in the fungal lysine biosynthetic pathway as well as methods enabling the discovery of chemicals that inhibit enzymatic steps within the lysine pathway. The second covers the company's proprietary Transposon-Arrayed Gene Knock-Out (TAG-KO®) technology, which covers methods for the rapid and systematic mutation of pathogenic fungi, enabling the efficient identification of novel antifungal and fungicide targets as well as novel biosynthetic and degradation pathways.

The worldwide fungicide market is approximately $6 billion annually. Demand for new fungicides with novel modes of action is expected to remain high due to recurring fungal resistance.

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To: tuck who started this subject12/19/2003 3:22:59 PM
From: tuck
   of 101
 
Rather strange PR. Financial terms mentioned only vaguely only in the headline . . .

>>Paradigm Genetics Signs Three-Year, Multi-Million Dollar Crop Trait Collaboration With Pioneer Hi-Bred International, Inc.
Friday December 19, 1:27 pm ET
Company to use its GeneFunction Factory(R) platform to identify plant genes that influence crop traits


RESEARCH TRIANGLE PARK, N.C., Dec. 19 /PRNewswire-FirstCall/ -- Paradigm Genetics, Inc. (Nasdaq: PDGM - News), a biotechnology company, today announced that it has signed a collaboration agreement with Pioneer Hi-Bred International, Inc., a subsidiary of DuPont headquartered in Des Moines, Iowa, to identify plant genes that influence important crop traits for use in Pioneer's crop variety development program.

For this collaboration, Paradigm will use its high throughput GeneFunction Factory® platform to analyze genes in Arabidopsis thaliana, a model organism, and identify those genes that will enable Pioneer to accelerate the product breakthroughs and improvements it brings to its customers worldwide.

"We are delighted to collaborate with Pioneer as we strive to provide high throughput, cutting edge research results to our agricultural partners. Pioneer is a leader in commercializing agricultural biotechnology, and we are proud to utilize our GeneFunction Factory® as part of their genomics-based trait discovery process," said Heinrich Gugger, Ph.D., president and CEO of Paradigm Genetics. "This collaboration demonstrates that our strategy for expanding and extending our agricultural customer base of partners is both sound and effective. It also demonstrates our continuous efforts to improve our multiple technology platforms for obtaining a greater understanding of biological systems are paying off."

"We are pleased to collaborate with Paradigm and use its functional genomics capabilities," said Bill Niebur, vice president of research, product development for Pioneer. "We believe that discoveries made through this collaboration will complement our established trait discovery programs and will allow us to continue to develop new products that bring value to our customers."<<

snip

Cheers, Tuck

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