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Neurocrine
Last Updated: 2/28/2000
Reviewed By: Jorg Mitterdorfer, Ph.D.
Neurocrine Biosciences, Inc. (NBIX)
10555 Science Center Drive
San Diego, CA 92121
Tel: 858/658-7600
Fax: 858/658-7601
www.neurocrine.com
Incorporated: 1991
IPO: (96/04)
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Executive Management:
Gary A. Lyons: President, CEO, and Director
Former occupations: Genentech, VP Business Development and VP Sales
D. Bruce Campbell: VP Development
European Chairman and Board Member of the Drug Information Association,
visiting Professor in Pharmacology at Kings College London
Former occupations: Servier (UK)
Margaret Valeur-Jensen: Vice President, General Counsel, Corporate Secretary
Former occupations: Amgen, Associate Counsel and Director
Paul J. Conlon: VP Drug Discovery
John Saunders: VP Medicinal Chemistry
Former occupations: CombiChem, VP Chemistry
Latest Financial Reports
Neurocrine Biosciences Inc. The name says it all. The company’s line
of research and drug development covers anxiety/depression, schizophrenia,
insomnia, Alzheimer’s disease, stroke, neuroinflammatory diseases,
multiple sclerosis, malignant brain tumor, diabetes type I and, yes, obesity.
Neurocrine is heavy on chemistry, most of their numerous publications and
the majority of the patents (11) the company holds cover CRF antagonists,
some of which are currently in Phase II clinical trials. Further leads are
APLs (Altered Peptide Ligands, in clinical trials for diabetes type I) and
an IL-4 Fusion Toxin, the latter being in phase II for malignant brain tumor.
With these, Neurocrine targets a multi-billion dollar market and each registered
compound will potentially be good news not only for patients and the company
itself but also for its shareholders. In a way this very business - drug
development - is a risky thing. There has been a notable backlash in July
1999 when Neurocrine announced the discontinuation of a clinical trial for
its MS drug MSP771. Stocks immediately went to an all-time low. However,
Neurocrine spreads the risk. Recent strategic alliances with high-throughput
screening company Caliper and genomics company Array BioPharma, as well
as a recruiting of bioinformatics specialists is geared towards a hefty
involvement in neurogenomics, which is the obvious move when focussing on
complex, multi-causal diseases like mental and neurodegenerative disorders.
In addition, this strategy is geared towards building and maintaining a
leading edge in the discovery of novel drug targets. Neurocrine has been
around for a while (1991), went public in 1996 and benefitted from the recent
hype around Biotech stocks. This, as well as a steady flow of milestone
payments from strategic partners like Novartis, Wyeth-Ayerst, and Janssen
should provide the company with the cash necessary to be successful in the
pursuit of their goals in the long run. But, what do I know? |
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