Alkermes And ALZA Announce Agreement To Develop And Commercialize RMP-7 For Delivery Of Drugs To Brain.CAMBRIDGE, Mass.--(BW HealthWire)--Oct. 6, 1997--Alkermes (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALKS ALKS Alkermes, Inc. (stock symbol) ) and ALZA Corporation (NYSE NYSE See: New York Stock Exchange :AZA) today announced that they have entered into an agreement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the development and commercialization of RMP-7, Alkermes' proprietary agent for facilitating drug delivery to the brain. Under terms of the agreement, ALZA will make a $10 million upfront payment to Alkermes to fund clinical development; in return, ALZA will have the option to acquire exclusive worldwide commercialization rights to RMP-7. If ALZA chooses to exercise its option, ALZA will make additional payments to cover costs associated with advanced clinical development. If RMP-7 is commercialized successfully by ALZA, ALZA will pay Alkermes certain milestone payments. Alkermes would be responsible for the manufacturing of RMP-7, and the two companies would share equally in profits from sales of the product. "RMP-7 has the potenti. "This agreement fits well with our strategy of acquiring rights to novel products under development as well "This collaboration will expand an d accelerate the de velopment of RMP-7 into additional clinical indicatiorug delivery technologies, ALZA is an excellentn barrier. RMP-7's safety, tolerability in combination with other drugs, as well as preliminary efficacy have been tested in a series of clinical trials in more than 600 human subjects. Alkermes has focused the development of RMP-7 on improving the therapeutic utility of the chemotherapeutic agent chemotherapeutic agent An agent used to treat CA, administered in 'regimens'-one or more 'cycles' that combine 3 or more agents over wks; CAs are toxic to any cell with a high rate of proliferation–the CA itself, the GI tract–causing N&V, carboplatin in the treatment of patients with brain tumors. Alkermes has completed four Phase II clinical trmeabilizers). Alkermes has the option to purchase the partnership's technology. Alkermes, Inc. is a leader in the development of products based on sophisticated drug delivery technologies. Alkermes' focus is on two important drug delivery opportunities: (1) controlled, sustained release of injectable drugs lasting several days to several weeks; and (2) the delivery of drugs into the brain past the blood-brain barrier blood-brain barrier n. Abbr. BBB A physiological mechanism that alters the permeability of brain capillaries so that some substances, such as certain drugs, are prevented from entering brain tissue, while other substances are allowed to . In addition to its Cambridge, Massachusetts headquarters, Alkermes operates a manufacturing facility in Ohio and a medical affairs office in Cambridge, England. ALZA Corporation, headquartered in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. , is a leader in the development and commercialization of innovative pharmaceutical products using advanced drug delivery technologies to add medical and economic value to drug therapies. CONTACT: Alkermes, Inc. Richard F. Pops Chief Executive Officer (617) 494-0171 OR Burns McClellan Investor Relations Investor relations The process by which the corporation communicates with its investors. : Lisa Burns (212) 213-0006 OR ALZA Corporation Michael Boennighausen/Investor Relations Anneke Cole/Media Relations 650-494-5222 |
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