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Zalicus Inc. Message Board

  • rscruumqb12 rscruumqb12 Oct 2, 2012 3:46 PM Flag

    Just got an email from Justin Rentz at Zaliucs

    Hi Ramsay,

    Yes, we are aware of MPM's recent sales of Zalicus stock, as disclosed in the Schedule 13G amendment filed today. MPM did indeed sell half of its Zalicus shares. MPM's investment in Zalicus dates back to its original investment in Neuromed in 2003. Given the length of time of the investment and the 10-year time horizon of the fund that made it, MPM sought liquidity for one half of its shares. MPM was awaiting the Synavive data, and they were evaluating their Zalicus investment regardless of the clinical trial's outcome. We understand that MPM currently plans to hold their remaining shares remaining after these sales, and a representative of MPM remains on our Board of Directors.

    We remain committed to developing Z160, Z944 and our sodium channel lead candidates. The cHTS business is doing well and in late August the most important dosage strength of Exalgo was approved by the FDA. Prednisporin remains in Sanofi's pipeline and we have cash into 2014.

    Justin

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