Revere Releases Biotech Pipeline Risk Report

Report Highlights Lower-Risk Companies with Promising Pipelines and Strong Partners

New York, February 22, 2005 – Revere™ Data, LLC, a fast-growing provider of independent research and market data, today announced a new Biotech Pipeline Risk Report that identifies micro- to mid-cap biotechnology companies with promising but relatively low-risk drug development pipelines.

The Biotech Pipeline Risk Report is designed to generate ideas for trading and investment opportunities in the Biopharmaceuticals sector. The Report is available on Revere’s website.

"Often an early-stage biotech company’s future is largely linked to the success or failure of a single drug candidate," noted Brian Hill, Director of Research for Revere. "Using Revere’s patented classification system and exclusive Revere Relationship data, however, customers can quickly identify companies that have diversified late-stage drug portfolios built around proven technologies."

Specifically, the Biotech Pipeline Risk Report identifies companies that meet all of the following criteria:

1. At least two Phase III or FDA-filed drug candidates

2. One or more drug candidates utilizing a mechanism of action already approved by the FDA in other drugs

3. One or more drug candidates facing two or fewer alternative drugs with the same mechanism of action for the same indication

4. An established strategic partnership with at least one blue-chip biopharmaceutical company

5. Market capitalization between $50 million and $1 billion

"Companies meeting all of these criteria are likely to have lower risk relative to other biotechnology companies with late-stage drug candidates," explained Hill, "but attempting to identify them without Revere would be an extremely daunting task. For example, one of the companies, Axcan Pharma (AXCA), currently has four Phase III or FDA-filed drugs in its pipeline. Three of the four drugs utilize mechanisms of action shared by drugs already approved by the FDA for other indications. Also, three of the four drugs, if approved, would face two or fewer competing products in the same drug class for their prescribed indications. Lastly, Axcan has already established licensing partnerships with industry leaders Abbott Laboratories and Sanofi-Aventis."

"This report showcases our unique strength in mapping the drug pipelines and relationships of virtually all publicly traded Healthcare companies," said Glen Wolyner, Chief Executive Officer of Revere. "Out of the hundreds of biopharmaceutical companies, we can help investors quickly identify a small basket with an attractive ratio of opportunity to risk based on stringent product, relationship, and quantitative requirements."

Revere’s exclusive content on company classification and key business relationships is available both in datafeeds and in Revere’s own applications. Revere’s customers include sellside agency and proprietary traders, buyside traders, hedge fund managers, portfolio managers, equity analysts, and other professionals at leading financial institutions, along with competitive intelligence, business development, and strategy specialists at major corporations.

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