BioStratum Gets $16 Million

Applied Genetics News, April, 1999

Karl Tryggvason, vice president of research and development, and co-founder of BioStratum, Inc. (2605 Meridian Pkwy., Suite 120, Durham, NC 27713; Tel: 919/572-6515, Fax: 919/544-5425, Email: info@biostratum.com) is directing a new $16 million diabetes research project in Scandinavia funded by the Novo Nordisk Foundation (Copenhagen, Denmark).

He is heading a team of researchers from four Scandinavian universities, including the Karolinska Institute in Stockholm, where he is professor of medical chemistry. The research group will study diabetes patients and normal controls to determine the role of small blood vessels in causing damage to the kidneys and eyes. "The goal of our project is to identify how small blood vessels are affected by diabetes and how these changes lead to kidney disease and blindness," says Trygvasson, "A consequence of this research may enable the insertion of specific genes in to a patient's kidney and eyes that prevent the damage from occurring and thus prevent the disease." Tryggvason and other BioStratum investigators have concentrated their research on the basal lamina, a thin membrane present in nearly all tissues. The basal lamina is a principal component of the glomerulus, the blood filtration unit of the kidney, and a major site of damage in diabetes. BioStratum recently completed a $6 million equity financing with two Scandinavian venture capital firms, Health Cap (managed by Odlander, Fredrikson & Co., AB in Stockholm) and BankInvest in Copenhagen. The funding will be used to initiate clinical trials and to expand BioStratum AB, a fully owned subsidiary in Stockholm.

AGN Stock Watch
(As of April 1, 1999)

                          This     Last
Company       Symbol      Month    Month      Change

Amgen          AMGN      76.875    64.250    12.625
Biogen         BGEN       113.5    102.25    11.250
Chiron         CHIR      22.312    21.562     0.750
Centocor       CNTO      36.687    42.750    -6.063
Enzon          ENZN      15.125    13.312     1.813
Genzyme        GENZ       50.75    46.000     4.750
ImClone        IMCL      16.500    10.8125    5.687
Immunex        IMNX      85.125    73.306    11.819
Medarex        MEDX       3.250     3.187     0.063
Mycogen        MYCO      27.937    27.937     0.000
Targeted Gen.  TGEN       1.612     2.125    -0.513
Xoma           XOMA       3.250     3.562    -0.312

Source: BCC, Inc.