On January 8, The Wall Street Transcript interviewed Collagenex Pharmaceuticals, Inc. (CGPI) CEO Colin W. Stewart. Key excerpts follow:

Mr. Stewart: CollaGenex is a company that has transitioned from being a dental pharmaceutical company into a specialty dermatology company using proprietary technology that we have in-licensed from the State University of New York. Recent milestones include the approval of our first dermatology product, our flagship product Oracea, which is the first FDA-approved systemic treatment for rosacea, and the launch of that product was in July. We are also very focused on continuing to develop our pipeline of products, including incyclinide and a compound called COL-118 for indications that include acne, rosacea and erythema.

Ryan Metcalfe: Voters' waffling on Big Mac is intolerable

A MAJORITY of the Baseball Writers Association of America made a loud statement, but spoke softly about keeping Mark McGwire out of the Hall of Fame with a paltry 23 percent vote for such a prodigious power hitter.

Clearly the cloud of performance-enhancing drugs caused McGwire to receive the low total for a player ranked seventh on the all-time homer list (583) and credited with reviving interest in baseball with his record-breaking 70 homers in 1998. But most writers who chose not to vote for McGwire hid quietly behind their laptops, afraid to stand behind their convictions, while those in the vocal minority boastfully wrote columns about why they voted for McGwire, even if they thought he had cheated by using steroids.

McGwire supporters thumbed their noses at the ethics of their trade, the HOF voting rules and the foundation of what is right in America.

Local venture investing at 5-year high

Led by strong interest in biotechnology and medical devices, venture-capital investing in 2006 reached a five-year high of $507.4 million in the Philadelphia area and $25.5 billion nationally, an industry analysis released yesterday said.

"Philadelphia had a very strong year, with a focus in the later-stage and expansion-stage companies, which was consistent with the national numbers," said Steve Hamilton, head of the technology practice in PricewaterhouseCoopers' Philadelphia office.

MIGENIX Announces Initiation of Rosacea Phase II Clinical Study By Partner, Cutanea Life Sciences

VANCOUVER, BC & SAN DIEGO, CA, Jan. 22 /PRNewswire-FirstCall/ -- MIGENIX Inc. (TSX: MGI; OTC: MGIFF) has been notified by Cutanea Life Sciences, Inc. ("Cutanea"), its development and commercialization partner for CLS001 (topical omiganan), of the initiation of a Phase II clinical study in the treatment of rosacea. This study is being conducted in the United States by Cutanea, and is expected to be completed by the end of 2007.

"The start of this clinical trial represents further progress with our clinical stage pipeline", stated Jim DeMesa, M.D., President and CEO of MIGENIX. "Along with celgosivir for hepatitis C (Phase II) and Omigard(TM) for preventing catheter-related infections (Phase III), his trial will provide us with clinical study results in three programs during 2007".