Meanwhile, Cytogen, a nine-year-old firm that lost $17.8 million in revenue last year, moved quickly to associate itself with Lo's work, claiming in a press release that they had "worldwide rights to its commercial applications." Penn officials later corrected this contention, saying that Cytogen's contract gave the firm only a six-month option on negotiating the rights. While grateful for Cytogen's "modest" funding, Lo discounts the company's contribution, saying that "it's a drop in the bucket compared to Cytogen's total research." She says she attended the press conference primarily to prevent her finding from being overly promoted by the company. In any case, the publicly held firm's stock price jumped from 2 1/2 points to 7 the day of the news conference.
Announcement of Squibb's Pasteur initiative came just days after the company's chairman and chief executive officer Richard M. Furland went to England to lay the cornerstone for a $32 ...
