Bellwether Report Clarifies Investor Alert for Shareholders of Dendreon Corporation
JOHANNESBURG, SOUTH AFRICA,Apr 18, 2007 (MARKET WIRE via COMTEX) On April16th, 2007, Bellwether Report issued a release that has caused some confusion in regards to the current position on Dendreon Corporation (NASDAQ: DNDN). The release was unclear to readers as whether or not the FDA had already made their decision towards Provenge (sipuleucel-T), an active cellular immunotherapy. In fact, the company expects the FDA to make their decision by May 15th, 2007
I still want to know who WROTE bogus release. Some people sold on this news. This needs to be investigated by the S.E.C. Interesting to note that all these third party publishers that released the false report are located in foreign countries.
1 comment:
Thank you for all the great information. I thought you might be interested in some of what I have found about Dr. Howard Scher and his conflicts of interest as it may relate to his participation in the recent advisory panel for Provenge.
Michael Milken started CaP CURE. Cap CURE funds Howard Scher. See here: http://www3.interscience.wiley.com/cgi-bin/abstract/102526979/ABSTRACT?CRETRY=1&SRETRY=0 Coincidently, Dr. Howard Scher, the Milken Family Foundation, L&S Milken Foundation, each have common investement interests. All three invested in Cell Therapeutics. See here: http://72.14.253.104/search?q=cache:ezxMRAiRQRMJ:www.secinfo.com/dsBqn.51Cy.htm+milken+scher+sec&hl=en&ct=clnk&cd=3&gl=us
Below are CaP CURE Therapy Consortium Members:
Center Participant
Dana-Farber Cancer Institute Philip Kantoff, MD
Memorial Sloan-Kettering Cancer Center Howard Scher, MD
Johns Hopkins University Mario Eisenberger, MD; Mike
Carducci, MD; Bill Nelson, MD, PhD
University of Wisconsin George Wilding, MD
University of Michigan Ken Pienta, MD
M.D. Anderson Cancer Center Chris Logothetis, MD
Cedars-Sinai Health Science Center David Agus, MD
University of California, San Francisco Eric Small, MD
http://www.pubmedcentral.nih.gov/article...
On top of the Michael Milken connection, Proquest Funds invests in the same investments that Howard Scher invests in. One example is Conforma Therapuetics. Dr. Howard Scher was a MAJOR shareholder in Conforma Therapeutics until it was acquired by Biogen. Coincidently, Proquest Funds was a major investor in Conforma Therapeutics. Conforma Therapeutics was acquired by Biogen Idec in 2006 for $150 million, payable at the closing, and up to an additional $100 million upon the achievement of certain development milestones. You can read about it here: http://www.biogenidec.com/site/019_0.htm...
On top of Dr. Howard Scher's stock investment in Conforma Therapeutics, he also received compensation for trial studies of 17-AAG, a proprietary formulation of Conforma Therapeutics for melanoma, breast, prostate, and thyroid cancer. You can see here: http://www.gistsupport.org/treatments/em...
Dr. Howard Sher sits on Proquest funds Scientific Advisor Board. See here: http://www.proquestvc.com/scienceadvisor... It is a $1 BILLION Mutual Fund that focuses on healthcare and oncology. Howard Scher receives money from sitting on this scientific advisory board. He also benefited from Proquest's investment into Conforma Therapeutics. And both Proquest and Howard Scher benefited when Conforma was later bought out by Biogen. On top of that, Howard also received compensation for the trials he conducted for Conforma Therapeutics.
My point being, that Howard Scher reaps LARGE profits from his investing activities. I suspect much more than any salary he draws from the FDA. He has enormous conflicts of interest. I have demonstrated his connection to a $1 billion mutual fund and his connection to Michael Milken. On top of his close professional relationship to these 2 huge financial titans, his brother in law Barry Lafer runs a $200 million offshore hedge fund (Lafer Equities). There seems to be a certain quid pro quo as it relates to Howard Scher and his professional involvement with Cap Care and Proquest Funds. But he is very smart. These are not public companies he is invested in. I have been trying to find out Howard Scher exact ownership in Conforma Therapeutics. However, all I could ascertain is that he was a major shareholder. And Proquest is a venture capital fund. And Cap Care is a private foundation. I suspect that there is a lot of dirt that is just not available in the public domain.
I don't understand how Dr. Howard Scher was granted a waiver for any conflicts of interest. I can't imagine an individual with more financial conflicts of interests sitting on the FDA advisory panel for Provenge.
Best Regards,
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