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AFFINITY BIOTECH TO ESTABLISH PHARMACEUTICS SUBSIDIARY; DRUG DEVELOPMENT SERVICES COMPANY TO BE HEADED BY FORMER SMITHKLINE BEECHAM EXECUTIVE

 BOOTHWYN, Pa., Sept. 22 /PRNewswire/ -- Affinity Biotech, Inc. (NASDAQ: AFBI) today announced that it is creating a wholly owned subsidiary that will provide drug development services to the pharmaceutical and biotechnology industries. The company will offer a broad range of drug development services, including formulation development, analytical services, and product testing. Donald C. Monkhouse, Ph.D., former vice president and director, pharmaceutical sciences, of SmithKline Beecham Corporation, has been named president and CEO of the new pharmaceutics subsidiary.
 "We are very excited about the addition of Dr. Monkhouse to the Affinity team, bringing with him years of experience in drug dose formulation and a robust network within the industry," said Alan Dickason, president and CEO of Affinity. "The pharmaceutics company is a continuation of our overall strategy to offer a broad range of proprietary drug delivery technology and formulation services, including taste-masking of liquid and chewable drugs, to the pharmaceutical industry. Affinity will be in a unique position to expand its growth by offering these capabilities to pharmaceutical and biotechnology companies as they increase outsourcing in response to the economic pressures of the nation's changing healthcare climate."
 "Affinity is currently applying its proprietary drug delivery and taste-masking technologies to generic drugs and to the proprietary drugs of other pharmaceutical and biotechnology companies," said Wayne Weisman, executive vice president of Affinity. "The addition of the new subsidiary not only allows us to bring significant product development expertise to bear on this effort, it offers the potential for immediate revenues by providing development services to other companies."
 At SmithKline Beecham, Dr. Monkhouse was responsible for the development of new chemical entities originating within the company. Prior to joining SmithKline Beecham, Dr. Monkhouse was vice president, pharmaceutical sciences, at Sterling Drug, Inc. from 1985 to 1988, director, pharmaceutical research and development, at Squibb Corporation from 1979 to 1985, and project leader, physical pharmacy, at Pfizer, Inc from 1971 to 1979. Among the products that have been successfully developed under his auspices are Feldene(TM), Capoten(TM), Omnipaque(TM), and Paxil(TM). A native Australian, Dr. Monkhouse, 49, received a Ph.D. in physical pharmacy from the University of Iowa. "Don's vast and successful experience in pharmaceutical product development makes him an ideal person to head Affinity's new subsidiary," Dr. Dickason. "The fact that the new company already has several projects under discussion with prospective clients is testimony to his reputation in the pharmaceutical industry."
 "I am encouraged by the new company's prospects because many of my colleagues at major pharmaceutical companies have expressed the need for outside development services and a willingness to work with our company," said Dr. Monkhouse.
 The new company expects to begin operations in a 21,000-square-foot facility in Fort Washington, Pa. It is anticipated that the subsidiary will grow to 20 employees over the next 12 months and achieve profitability by the second full year of operations.
 Based in Boothwyn, Affinity Biotech focuses on the development of oral drug delivery systems for proteins, peptides and other therapeutic agents, the formulation of taste-masked liquid and chewable drugs, and the development of other pharmaceutical products utilizing Affinity's expertise in surface chemistry.
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 /CONTACT: Wayne B. Weisman, executive vice president of Affinity Biotech, 215-497-0500, or Anthony J. Russo, Ph.D., of Noonan/Russo Communications, 212-696-4455/
 (AFBI)


CO: Affinity Biotech, Inc. ST: Pennsylvania IN: MTC SU:

PS-CK -- NY015 -- 4584 09/22/93 10:16 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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