LERNER RESURFACES: Teena Lerner, who left Lehman Brothers in February as the firm's biotech analyst, has joined Dawson Sandberg Capital Management to buttress the $2 billion fund's technology research team. Dawson Sandberg has historically been very active in tech stocks, according to Lerner. "The firm is interested in high growth sectors where you see a lot of change and volatility," Lerner told Ebb & Flow. "My job is to get us active in health care: the drugs, the HMOs, the med techs and possibly the info services."

HAYCOCK SWITCHES: Meanwhile, Paul Haycock will leave the CEO position at Cantab Pharmaceuticals (CNTBY) to join Apax Partners as director. Apax is a U.K. investment group with £1.5 billion under management. "The job allows me to keep a pretty strong commitment to Cantab," said Haycock, who will become vice-chairman at the company.