Lots of dot-coms are at death's door. Here's one that's there by design.
HeavenlyDoor.com is a combination funeral portal and biotech company, a one-stop shop for funeral homes, caskets, electronic sympathy cards and other synergistic wares.
"Heavenlydoor.com is the only full-service, publicly traded internet company serving the death care industries," the Web site explains. The site went through a redesign this month.
The loved one needn't be dead to be a prospect. The company wants to move into long-term care, assisted living and financial/estate planning. HeavenlyDoor, formerly biotechnology developer Procept, changed its focus in January from biotech to death when it bought a Web funeral venture.
HeavenlyDoor retains the biotech arm, which developed the compounds PRO 2000 Gel, an HIV prevention drug, and O6-Benzylguanine, used in cancer treatment.
HeavenlyDoor has the right address: It's on Memorial Drive in Cambridge, Mass. Its public relations agency, too, fits the bill: CPR Communications, Teterboro, N.J.
One thing that has been lacking is major revenue. From its founding in 1985 through March 31, HeavenlyDoor/Procept generated an accumulated deficit of $125 million and had no revenue from product sales. In the first quarter, HeavenlyDoor lost $20.8 million; its only revenue, $49,170, was from interest income.
And the stock? It traded last week at a 52-week low of 66 cents.
Copyright July 2000, Crain Communications Inc.