These days, one can almost be convinced of the reality of a truly efficient market, one that brings together buyers and sellers, matching excess capacity with need. The Internet promises to make this possible, by acting as the ultimate go-between. It is not only the purveyors of products that have realized the potential of the Internet's connectivity. Recently, several sites have gone up to facilitate the buying and selling of certain fungible but less tangible assets of R&D based companies. Yet2.com, Pharmalicensing.com,and PL-X.com all have web sites that seek to match buyers and sellers in technology transfer. PharmaUniverse.com hopes to create an efficient market for other pharmaceuticals assets like short-dated inventory or manufacturing capacity.

{In Vivo} summarizes the technologies of several medical companies founded recently, including Belgium's [AlgoNomics NV], a new entrant in the biocomputing and bioinformatics arena. [CoPharma Inc.]'s mission is to develop drug and biological products through joint ventures with discovery firms. Launched in February 2000 with $2 million from Sanderling, Alta Partners and Graystone, [Cythera Inc.] will develop therapies based on the transplantation of functional human cells grown{ in vitro}, offering an alternative to the use of donated human tissues. [Embolic Protection Inc.] has developed a device, consisting of a guide wire and filter mechanism, to remove embolic debris. Denmark's [NsGene A/S] is a joint venture of NeuroSearch A/S and the University of Lund. [WebEBM] will offer evidence-based clinical guidelines for 400 diseases or conditions on its website.

Myelos Corp. was applying its novel derivatives of neurotrophic factor prosaposin to the difficult problem of nerve damage caused by diabetes and other diseases, when it discovered, through serendipity, the pain-relieving potential of its compound.

In a time when many small biotechs are consolidating, Desmos Inc. appears to be taking a contrarian position as it prepares to divide itself into two separately financed, stand-alone businesses. Desmos shareholders will soon hold shares in a new cell-therapy focused company as well as a tissue-engineering company.