CollaGenex Pharmaceuticals Signs Second European Marketing Partner for Periostat.NEWTOWN, Pa.--(BW HealthWire)--Aug. 3, 1998--CollaGenex Pharmaceuticals 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 : CGPI CGPI Corporate Goods Price Index (Japan) CGPI Capital Goods Price Index (New Zealand) ) announced Monday that it has signed a licensing agreement with Laboratoires Pharmascience ("Pharmascience") pursuant to which Pharmascience will market Periostat(R) in France and certain other related territories following regulatory approval. Pharmascience is the main operating subsidiary of Groupe Expanscience, a French pharmaceutical company. Periostat is CollaGenex's lead drug for the treatment of periodontal disease Periodontal Disease Definition Periodontal diseases are a group of diseases that affect the tissues that support and anchor the teeth. Left untreated, periodontal disease results in the destruction of the gums, alveolar bone (the part of the jaws where . A new drug application for Periostat is currently under review by the U.S. Food and Drug Administration and the Italian regulatory authorities. Under the terms of the license agreement, CollaGenex will receive an upfront licensing fee, milestone payments and royalties on future sales. Pharmascience will receive the exclusive right to market Periostat in France and certain other French-speaking territories. "Pharmascience is an ideal partner for CollaGenex due to its excellent relationship with the dental community in France and its commitment to expanding its presence in this market," said Brian M. Gallagher, president and chief executive officer of CollaGenex. "We now have licensing agreements with Pharmascience in France and Boehringer Mannheim Italia in Italy. Together they represent a significant portion of the European market." "We have been very impressed with the clinical data supporting the use of Periostat in the treatment of periodontal disease," noted Jean-Paul Berthome, chairman of Groupe Expanscience. "We anticipate that Periostat will be an important cornerstone of our strategy to become the leading marketer of pharmaceuticals to the French dental market." CollaGenex Pharmaceuticals is an emerging pharmaceutical company that is developing and commercializing innovative proprietary medical therapies for the treatment of periodontal disease and other pathologies. The company's core technology involves modulating the body's pathological response to certain acute and chronic illnesses. In particular, CollaGenex has developed inhibitors of certain chronic degenerative processes that lead to the destruction of connective tissue during inflammation. These inhibitors have shown the potential to treat a variety of diseases including periodontal disease, osteoarthritis osteoarthritis or osteoarthrosis or degenerative joint disease Most common joint disorder, afflicting over 80% of those who reach age 70. It does not involve excessive inflammation and may have no symptoms, especially at first. , rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. and respiratory and gastrointestinal illnesses. CollaGenex and its collaborators are also researching and developing other potential applications of its technology, including cancer metastasis metastasis /me·tas·ta·sis/ (me-tas´tah-sis) pl. metas´tases 1. transfer of disease from one organ or part of the body to another not directly connected with it, due either to transfer of pathogenic microorganisms or to , wound healing, osteoporosis and diabetic complications. Laboratories Pharmascience is the main operating subsidiary of the Groupe Expanscience, a leading privately-owned French pharmaceutical and cosmetic firm with annual revenue of $117 million. Pharmascience is mostly active in the areas of rheumatology rheumatology /rheu·ma·tol·o·gy/ (-tol´ah-je) the branch of medicine dealing with rheumatic disorders, their causes, pathology, diagnosis, treatment, etc. rheu·ma·tol·o·gy n. , phlebology phle·bol·o·gy n. The branch of medicine that deals with veins and their diseases. phle·bol  o·gist n. , dentistry,
dermatology and dermo- cosmetics, with both prescription and OTC OTCSee: Over-the-counter. OTC See over-the-counter market (OTC). products. To receive additional information on CollaGenex, please visit the Company's web site at www.collagenex.com, which is not a part of this press release. This news release contains certain forward-looking statements within the meaning of section 21E of the Securities and Exchange Act of 1934, as amended. Investors are cautioned that forward- looking statements involve risks and uncertainties which may affect the Company's business and prospects, including without limitation the requirement for regulatory approval of products by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. , the uncertainty in obtaining such approval and uncertainties relating to clinical trials, all as discussed in the Company's periodic filings with the U.S. Securities and Exchange Commission.
CONTACT: CollaGenex
Robert A. Ashley, 215/579-7388
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion