We are pleased to present the Q3 2005 edition of LabToWallStreet.  With the release of the Q3 publication comes the end of summer.  In retrospect of that which is usually the slow season, one can easily conclude that it was quite the opposite for not only the global and local life sciences industries, but also L2WS!

            The summer months were filled with developments relevant to technology and business development in the pharmaceutical and biotechnology industries.  Undoubtedly the most relevant on a global scale was the announcement on 22 August of the jury’s decision in the first of many patient-based lawsuits against Merck involving Vioxx, the company’s Cox-2 inhibitor.  In the opinion of many industry pundits, the jury’s verdict was disappointing, not only because it seemed to be based on emotion rather than medical evidence and fact-based decision making, but also because the implications are challenging and potentially devastating for Merck, and will be felt across the industry as a whole.

            Summer news emanating from LabToWallStreet’s purview, the Tri-State area and New York specifically, was much more upbeat, anchored by two important and exciting announcements.  First, the New York City Economic Development Corporation announced the selection of Alexandria Real Estate Equities as developer for the long-awaited East River Science Park.  The basis for this decision and its lasting and positive implications for the biotech industry in New York City are elaborated elsewhere in the Q3 release.  Second was the announcement on 21 August that OSI Pharmaceuticals intended to acquire Eyetech Pharmaceuticals.  The announcement came as a surprise to the investment community, and resulted in a significant share price decrease for OSI (based on the perception of overpayment for Macugen given the promise of Genentech’s Lucentis).  Despite the financial implications, we view the merger as a supremely positive event, because it represents the combination of two of New York’s most visible biotech companies, which in reality is a triumvirate of New York life sciences power, given Eyetech’s commercial relationship with Pfizer for Macugen!

            With respect to news on the home front, LabToWallStreet is pleased to announce the conversion of our publication from PDF format to HTML format.  We anticipate that this change will benefit our loyal readers in two ways:  it will greatly enhance ease of use, and will drive increased visibility and usage of our website, thus spreading the word of L2WS even further across the globe.  The conversion was executed by a recent addition to the L2WS team; Blake Wotiz has joined us as Chief Technology Officer.

            Looking forward to the fall, there are a number of exciting events in store.  On 17 November, L2WS will co-host an important reception regarding the development and retention of biotech enterprise in New York City with the Economic Development Corporation and the New York Private Equity Network – information regarding the event will be distributed shortly.  The next M2 is planned for December 6th and we hope to see you there.  In addition, there are a number of exciting projects under development at L2WS that will further enhance our suite of media solutions designed to enhance the connectivity of the New York life sciences industries – we look forward to providing more information on these projects over the coming months!

            As always, we welcome sponsorship and partnership inquiries – please direct any and all such correspondence to Craig (ckasper@labtowallstreet.com) or Matt (mwotiz@labtowallstreet.com).