Of course they lost it:

Tsunami Books has joined in a real-life hunt for a missing 4-inch tooth that some experts believe may offer the first DNA evidence that proves the existence of a large predatory creature in Scotland's fabled Loch Ness. Tsunami is the independent publisher that made its debut this summer with N.Y. Times best-selling author Steve Alten's The LOCH, a modern-day thriller about the hunt for the Loch Ness Monster. The tooth in question was discovered by two American college students on Spring Break, pried loose from a mutilated deer carcass along a Loch Ness deepwater shoreline known to local fishermen as a "kill zone." The tooth was later confiscated by a water bailiff, along with some of the students' film. One video tape was salvaged...

Look folks, from everything I've read biologists seem to think a species needs between 200 and 2,000 members to stay viable. Yes, I think it's very possible for one creature, even one very very large creature, to hide out in Loch Ness. It's a big place, after all. But 200? Without a skeleton, corpse, or even clear sequence of film ever being seen?

It's a hoax, people... it always has been.