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THE BLOOD-CANCER EXPERIMENT

THE WHISTLEBLOWER

THE BREAST-CANCER EXPERIMENT

THE FINANCIER

THE PROSPECTS FOR CHANGE


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THE FINANCIER

Research doctors from the Fred Hutchinson Cancer Research Center started at least 10 major companies, many with help from The Hutch and New York financiers David and Isaac Blech.
 
Company Stock Value 52-week
high
Founded Blech $
connection
Hutch $
connection
Genetic
Systems
GSC $294 million(a) 1980 yes Licenses,
royalties
Immunex IMNX $13.2
billion
$44.9
billion
1981 Experiments
NeoRX NERX $147
million
$1.8
billion
1984 yes Clinical trials
Targeted
Genetics
TGEN $174
million
$1.0
billion
1989 Licensing,
contracts
ICOS ICOS $2.3
billion
$3.1
billion
1989 yes
CellPro CPRO $284 million(b) 1989 Stock,
licenses,
royalties
Cell
Therapeutics
CTIC $485
million
$2.2
billion
1991 yes Stock,
licenses,
royalties
PathoGenesis
(Chiron)
CHIR $700 million(c) 1992 yes
Corixa CRXA $512
million
$2.4
billion
1994
Rosetta Inpharmatics RSTA $278
million
$1.2
billion
1996 Stock,
licenses,
royalties

 
a) Sale price to Bristol-Myers in 1986. Bristol-Myers resold the company in 1991 for $20 million.
(b) 1997 value. Went bankrupt in 1998, after losing patent-infringement lawsuit.
(c) Sale price to Chiron in August 2000. Chiron has market cap of $8.3 billion.

Sources: Seattle Times research, SEC reports, Nasdaq closing values 3/13/01. The Hutchinson Center will not reveal stock holdings or license and royalty deals, so this chart is incomplete.


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