TAKING GOOD SCIENCE AND SOUND MANAGEMENT TO THE BANK

TAKING GOOD SCIENCE AND SOUND MANAGEMENT TO THE BANK

Regeneron's windfall of April 2 may have shocked a number of technology watchers and inspired dark predictions from others. But the fact remains that while Regeneron's wildly successful initial public offering may be due in part to Wall Street hype, the company's promising science, growing market potential, experienced management, and strategic alliances render it one of the most promising young biotechs today.

Regeneron's therapeutic strategy is to use neurotrophic factors--specific, naturally occurring human proteins--to prevent degeneration or promote regeneration of neurons. Already scientists at the company have announced the cloning and characterization of three such factors: BDNF, NT-3, and CNTF. Though their therapeutic value is as yet unproven, the market potential for these factors is phenomenal. In a society with an aging population, neural disorders--for which there are...