Club Biomed &endash; Meeting Minutes &endash; 21 April 2004

Social phase, monthly contribution collections and discussion.

Virtual portfolios & benchmarks, Club Biomed portfolio, Treasurer's report. John & Jeannie.


A quick report on Cell Therapeutics (CTIC). Jordan. This presentation resulted in a buy recommendation. Despite the fact that the company is not making money and the CEO spends a lot of money (ie. private jet) and his brother is the CFO Jordan recommended the buy as he thought that the company was under-valued, in part due to the poor reputation of management. They appear to have a good product on the market and a very strong pipeline. He argued that this made them underalued. He also said that the upcoming meetings should provide positive news and the stock should jump. The partners voted unanimously to buy 300 shares of CTIC on John's proposal. We also voted to put a sell order in at 15 with the intention of revisiting our position in June.

NOTE: After the meeting John reported via email that we purchased 300 shares of CTIC at 8.58. There is a sell order of the stock at 15. We will revisit stock in June.

Educational Presentation. "Patents: How to get 'em, how to enforce 'em, and how to make money from them." Brian Kelly. Very informative presentation/discussion. We learned about the process of getting a patent as well as defending them. Brian shared his experiences with lawsuits surrounding patents including one that resulted in a 49 million dollar paycheck for the university and 1 million for the investigators involved!

The Binary Event Committee Report. Vineet et al. Vinny suggested two

companies for study &endash; Vinny and John Caligari (a new partner) said they would present one of them next month and they were latter joined by Jordan.

Upcoming agenda items for meeting in May:

Content by Deirdre McGarrigle & John Wagner

Compiled/Submitted by Andrea Hooper