Astralis Receives Final $2.5 Million Payment From SkyePharma Pursuant to Stock Purchase Agreement.Health/Medical Writers FAIRFIELD, N.J.--(BUSINESS WIRE)--Feb. 3, 2003 Astralis LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ASTR ASTR American Society for Theatre Research (established in 1956) ASTR Aerospace Systems Test Reactor ASTR Aircraft Shield Test Reactor ASTR Automatic Spectral Target Recognition ASTR Army Specialized Training Reserve ) announced today that it received a $2.5 million payment from SkyePharma PLC (Nasdaq: SKYE; LSE LSE - Language Sensitive Editor : SKP SKP Suomen Kommunistinen Puolue (Communist Party of Finland) SKP Sveriges Kommunistiska Parti (Communist Party of Sweden) SKP Sisemajanduse Koguproduktist (Estonian) ) under the December 2001 Stock Purchase Agreement. The $2.5 million represents the final instalment due from SkyePharma. Astralis has now received a total of $20 million from SkyePharma. Mike Ajnsztajn's Astralis' Chief Executive Officer and Michael Ashton, SkyePharma's Chief Executive Officer, jointly stated that, "SkyePharma's continued support and equity investment confirms our collective commitment to introduce PsoraxineTM, Astralis' first product candidate, which is under development for the treatment of psoriasis." Astralis Ltd. is an emerging biotechnology company focusing on the research and development of novel treatments for immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. disorders and skin diseases. This press release may contain forward-looking statements regarding Astralis Ltd. Actual results may differ materially from those described in the press release as a result of a number of factors, including but not limited to the following: There can be no assurance that PSORAXINETM will be successfully developed or manufactured, or that final results of human clinical trials will result in the regulatory approvals required to market products, or that final regulatory approval will be received in a timely manner, if at all, or that patient and physician acceptance of this product will be achieved. Astralis Ltd undertakes no obligation to revise or update any such forward-looking statement to reflect events or circumstances after the date of this release. |
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