COR Therapeutics, Inc. Announces Receipt of $8 Million Milestone Payment.SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BW HealthWire)--Feb. 19, 1998--COR Therapeutics, Inc. (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 :CORR CORR Used on the consolidated tape to indicate a correction in a reported transaction : CORR.LAST.GY 50 WAS 51. ) announced that the Company has received $8 million from Schering-Plough Corporation. This milestone payment is in connection with acceptance for review of the centralized Marketing Authorization application seeking European marketing approval of INTEGRILIN(TM) (eptifibatide) for the treatment of patients with unstable angina and non-Q-wave myocardial infarction and as an adjunct to percutaneous transluminal coronary angioplasty percutaneous transluminal coronary angioplasty n. Abbr. PTCA A procedure for enlarging a narrowed arterial lumen by peripheral introduction of a balloon-tip catheter followed by dilation of the lumen as the inflated catheter tip is (PTCA PTCA abbr. percutaneous transluminal coronary angioplasty PTCA Percutaneous transluminal coronary angioplasty, see there ). The application was submitted by Schering-Plough, COR's worldwide partner for INTEGRILIN(TM), to the European Union's (EU) European Medicines Evaluation Agency (EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. ), the central regulatory agency for the 15 member states of the EU. EMEA approvals may result in labeling which is valid in all 15 EU member states. The application was based on the results of the IMPACT II and PURSUIT clinical trials. INTEGRILIN(TM) is a parenteral GP IIb-IIIa inhibitor that is currently in development by COR and Schering-Plough and has been shown to block platelet aggregation, a crucial event in the formation of arterial blood clots. COR Therapeutics, Inc. is dedicated to the discovery, development and commercialization of novel pharmaceutical products for the treatment and prevention of severe cardiovascular diseases. COR has complementary research and development programs that seek to address critical needs in severe cardiovascular care, including unstable angina, acute myocardial infarction acute myocardial infarction (  ·kyōōtˑ mī·ō·karˑ·dē· , deep vein thrombosis A blood clot (thrombos) in a vein deep within the muscle, typically in the thigh or calf. It is caused by disease or the lack of activity such as sitting for hours at a computer screen. and restenosis. In addition to the historical information contained herein, this press release contains forward-looking statements that are subject to risks and uncertainties. A full discussion of the Company's operations and financial condition, and specific factors that could cause the Company's actual performance to differ from current expectations, are discussed in the Company's SEC reports, including, but not limited to, the factors discussed in "Risk Factors" in the Company's Registration Statement on Form S-3, as amended, filed with the SEC on September 8, 1997, as well as the Company's Report on Form 10-Q for the quarter ended September 30, 1997, and Report on Form 10-K for the year ended December 31, 1996. CONTACT: COR Therapeutics, Inc. Laura A. Brege or Jacquelyn A. Jeffries, 650/244-6893 or Burns McClellan, Inc. Lisa Burns (Investors) or Jonathan M. Nugent, 212/213-0006 Mike Sinclair (Media), 415/352-6262 |
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