BioTransplant Inc.

After the recent capital drought, there's no shortage of biotechs in distress. But BioTransplant demonstrates how a company in real crisis maximized the chance that something of value would be left at

Target-independent drug screening 61 Moulton Street Cambridge, MA 02138 Phone: (617) 661-4900 Fax: (617) 661-6888 E-mail: kbeen@bionautpharma.com Web site: www.bionautpharma.com Contact: Kees Been,

Biotech dealmaking in the fall of 2002 was a study in crisis management. As cash-starved biotechs scrambled to avoid liquidation, they signed deals that kept them alive but hardly offered much hope fo

As the financing drought continues and their cash supplies dwindle, biotechs are resorting to big layoffs to drastically cut back on spending. ( See Exhibit 1. ) Some of these layoffs look to be part