Life on the dole from D. Blech

Life on the dole from D. Blech

The irritating thing about old saws is that they usually contain an unwelcome kernel of truth. Thus the warning not to put all of one's eggs in one basket comes a bit late to those early-stage companies that depended on New York financier David Blech as their single source of funds.

Some of these companies are finding out fast that they don't have a future.

One such company is Morphogenesis Inc., a Cranbury, N.J., company focused on cell differentiation and cell fate. The company was founded on the idea that, based on developmental biology, scientists could address diseases such as cancer, autoimmune disorders and type I diabetes.

"A lot of people think cancer is a blocked differentiation pathway," said

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