|
|
|
ONLINE FEATURES
Book Reviews
BW Video
Columnists
Interactive Gallery
Newsletters
Past Covers
Philanthropy
Podcasts
Special Reports
BLOGS
The Auto Beat
Byte of the Apple
Europe Insight
Eye on Asia
Getting In
Investing Insights
The New Entrepreneur
NEXT: Innovation Tools & Trends
On Media
Technology at Work
The Tech Beat
Traveler's Check
TECHNOLOGY
Product Reviews
Tech Stats
Hands On
AUTOS
Home Page
Auto Reviews
Car Care & Safety
INNOVATION
& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip FINANCE Investing: Europe Annual Reports Bloomberg BW50 SCOREBOARDS Hot Growth Companies: 2008 Mutual Funds Info Tech 100 B-SCHOOLS Undergrad Programs Rankings & Profiles |  |
JUNE 4, 2007
What Big Investors See In Bioenvision  At the opposite end of the biotech world, tiny Bioenvision (BIVN
) has attracted big investors, including George Soros. A biopharma focused on certain types of cancer, Bioenvision has enticed Soros Fund Management and Perseus-Soros BioPharma Fund to acquire a combined 12% stake. Other buyers include SCO Financial Group, also with 12%; Federated Investor (FII
), 11%; Lehman Brothers (LEH
) Holdings, 3.5%; and Pequot Capital Management, 3.2%. Bioenvision has teamed up with biotech biggie Genzyme (GENZ
) to develop clofarabine, a treatment for leukemia in children. Bioenvision is seeking to expand its use to elderly patients with acute myeloid leukemia in Europe, where it has marketing rights. (Genzyme owns the U.S. rights.) Based on a typical timeline for review by the European Medicines Agency, "we'd expect an approval" by late 2007, says Bret Holley of CIBC World Markets (CM
), who rates the stock, now at 4.51, "outperform." Steven Rouhandeh, CEO of SCO, believes the stock will hit 20 in a year. He says when Europe O.K.'s clofarabine for adults, "Bioenvision will rocket." By then, Genzyme might opt to buy Bioenvision, he says.
Note: Unless otherwise noted, neither the sources cited in Inside Wall Street nor their firms hold positions in the stocks under discussion. Similarly, they have no investment banking or other financial relationships with them.  By Gene G. Marcial Get BusinessWeek directly on your desktop with our RSS feeds.  Add BusinessWeek news to your Web site with our headline feed. Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video. To subscribe online to BusinessWeek magazine, please click here. Learn more, go to the BusinessWeekOnline home page  | | |
 Copyright 2007, Bloomberg L.P.Terms of Use | Privacy Notice |
Printer-Friendly Version