What to make of the last line of this section from...

What to make of the last line of this section from "Biotech-Healthcare: Snippets and Tips from RBS Morgans
06 Mar 2012 11:33:00

* Anyone trying to understand what it takes to pull off a successful biotech IPO these days should check out a series of 13Ds Verastem's (VSTM) insiders filed last month.

In the days after Verastem went public the insiders noted that they had collectively acquired 43 per cent of Verastem's stock.

And Christoph Westphal's Longwood Fund captured the biggest share - taking home 13.63 per cent of the offering.

Westphal founded Verastem, a preclinical drug developer focused on cancer stem cells, and then quickly went public at a stage when most such developers could only dream about an IPO.

Westphal, though, has some of the best connections in the industry after selling Sirtris to GlaxoSmithKline (GSK) for $720 million and going on to run GSK's venture arm briefly.

He runs Longwood along with Rich Aldrich and Michelle Dipp.

The other insiders, Bessemer, CHP and MPM each nabbed close to 10 per cent of the IPO shares.

Our comment - this is a good comparison for Alchemia.

(Source: FierceBiotech)"


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