Cypros Pharmaceutical launches North American sales with acquisition of products.CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 17, 1995--Cypros Pharmaceutical Corp. (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 :CYPR) Thursday announced it has launched its North American sales and marketing program with the acquisition of two injectable drug products for distribution in the United States and Canada. The products were acquired in a cash and stock transaction from the Iso-Tex Companies of Friendswood, Texas. The drugs assess kidney function by the measurement of glomerular filtration rate glomerular filtration rate n. Abbr. GFR The volume of water filtered out of the plasma through glomerular capillary walls into Bowman's capsules per unit of time. and are used in patients with renal, cardiovascular and metabolic diseases. Each drug has an approved New Drug Application (NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any ) from the U.S. Food and Drug Administration and is currently utilized as a precise measure of kidney function. The acquired drugs can monitor changes in kidney function with a high degree of accuracy, allowing for earlier disease recognition and intervention. Kidney disease afflicts more than 2 million Americans and costs the United States health care system at least $12 billion annually. Many patients will progress to end-stage renal disease End-stage renal disease (ESRD) Total kidney failure; chronic kidney failure is diagnosed as ESRD when kidney function falls to 5-10% of capacity. Mentioned in: Chronic Kidney Failure end-stage renal disease , requiring dialysis or transplantation, with death a frequent outcome. Paul J. Marangos, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said: "This acquisition gives Cypros entry into the medical marketplace while providing immediate revenues and cash flow to the company. This acquisition will position Cypros for the eventual launch of its two acute-care candidates, CPC-111 and CPC-211, and will complement our preclinical and clinical research programs. While maintaining a low cash consumption rate, Cypros continues its strategy to maximize shareholder value." According to Larry A. Risen, director of business development: "These acquired products are of strategic importance in establishing a hospital-based pharmaceutical business and creating access to the cardiorenal market, which is a key therapeutic area of opportunity for our cytoprotective drug candidates. The company is now recruiting sales support personnel and is pursuing the state and federal licenses required to move commercial operations to the Carlsbad facility." Cypros Pharmaceutical is engaged in the development and marketing of drug products for the hospital market. The company is pursuing a diversified strategy of marketing approved drugs and of developing small molecule therapeutics that protect cells from ischemic Ischemic An inadequate supply of blood to a part of the body, caused by partial or total blockage of an artery. Mentioned in: Antiangiogenic Therapy, Subarachnoid Hemorrhage, Ventricular Fibrillation ischemic injury. The company's CPC-111 is currently in Phase II clinical trials for congestive heart failure congestive heart failure, inability of the heart to expel sufficient blood to keep pace with the metabolic demands of the body. In the healthy individual the heart can tolerate large increases of workload for a considerable length of time. , open heart surgery and adult respiratory distress syndrome Adult Respiratory Distress Syndrome Definition Adult respiratory distress syndrome (ARDS), also called acute respiratory distress syndrome, is a type of lung (pulmonary) failure that may result from any disease that causes large amounts of fluid to and CPC-211 is in Phase II clinical trials for ischemic stroke and closed head injury. CONTACT: Cypros Pharmaceutical Corp., Carlsbad David W. Nassif, 619/929-9500 or Financial Sciences of America Francesca Daniels, 310/278-4413 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion