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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| June 03, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MARKETS

NASD gets $110 mil bid for Amex

GTCR Golder Rauner, a Chicago-based investment firm, will buy the No. 3 stock exchange. The Chicago Board Options Exchange expressed interest, but it came too late. NASD bought the Amex in '98. But NASD has gotten out of running exchanges to focus on securities regulation. It spun off Nasdaq and put Amex on the block in '00.

Venture valuations keep falling

The Q1 median value of venture-backed firms edged down to $10 mil from Q4's $10.2 mil, said VentureOne. The value of firms in early-stage financings, which had been rising, plunged to $4.8 mil from $6 mil in Q4, the worst since '95. But profitable firms had a median value of $22.6 mil, the best since Q4 '01.

MEDICAL

Cholesterol drugs may cut cancer

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