Gaston Means to undercover FBI agent Tolliver in a recent episode of "Boardwalk Empire": "The best predictor of future behavior is past behavior." John Chip Scarlett's past behavior:
Sensus Drug Development Corportion
1992 – 2001 Austin, TX
As Founder and CEO, led the Company through a key partnership with Genentech, the acquisition, development and approval of an endocrine product, SOMAVERT® (pegvisomant), and the sale of the Company to Pharmacia in 2001.
Covance Biotechnology Services, Inc.
1993 – 2001 Research Triangle Park, NC
Founder & Director - Developed the business plan and negotiated a joint venture with Corning, Inc., directed site selection and construction of a state-of-the-art, process development and recombinant protein cGMP manufacturing facility in RTP, and as a Director, provided Board oversight for a 450 employee business with multiple large pharmaceutical company clients prior to its sale to Akzo Nobel’s Diosynth Division in 2001.
2001 – 2008 Brisbane, CA
As Co-Founder and CEO, led the Company through the acquisition, approval and commercialization of two novel endocrine products (INCRELEX® and SOMATULINE® DEPOT), key partnerships with Genentech and Ipsen S.A., and multiple financing rounds including the IPO in 2004 and subsequent follow-on equity offerings. Tercica merged with Ipsen in the 4th quarter of 2008 in a transaction that valued the company at approximately $660 million.
2009 – 2010 South San Francisco, CA
As President and CEO led Proteolix, a biotechnology company developing proteasome inhibitors (including carfilzomib) for oncology and immunology applications, through a management realignment and subsequent merger with Onyx Pharmaceuticals (NASDAQ: ONXX) valued at $856 million.
....well you certainly dug up the CV goods on Chippy. That guy reads like a used pharma salesman in a white polyester lab coat. So it's a buyout again.
Now for the secondary that apparently wasn't exercised recently in that 100mil share turnover game. Wonder if that had anything to do with a potential buyer? INCY must be getting antsy. Maybe the shelf is GERN's poison pill threat to stop any hostile takeovers
The musical chair game last week could have been a major player shifting ownership for many reasons. The shelf stocked with poison pills scenario kinda needs tweaking.... to be continued in the next episode of...As the Stomach Churns with GERN