EURAND IN-LICENSES NOVEL ANALGESICS.

Eurand, a specialty pharmaceutical company, has signed research agreements with the University of Milan (Italy) and the University of Sassari (Italy) to evaluate a new class of analgesic compounds. This new class of compounds is expected to be comparable to opioids in terms of efficacy, but not to possess the major drawbacks of tolerance and dependence which limits the use of opioids, the gold standard in pain relief.

Under the terms of the agreement between Eurand and the Technology Transfer Offices of the Universities of Milan and Sassari, Eurand and the Universities will collaborate to develop and evaluate the efficacy of five novel compounds for the treatment of moderate to severe pain. The Universities, which discovered the compounds, will be responsible for their synthesis, while Eurand will be responsible for the pre-clinical evaluation and development of the products and will use its proprietary drug delivery technologies to optimise the release profiles of the drugs. Eurand has an option for exclusive worldwide development and commercialization rights.

Gearoid Faherty, CEO of Eurand, commented "Eurand is excited about this research project and is looking forward to working with the Universities of Milan and Sassari for the development of this new class of compounds. In-licensing of select molecules forms a core element of our internal product development strategy and this is the third such agreement signed by Eurand since we commenced this program. We are in active discussions with a number of academic research organisations to establish research and development collaborations such as the one with these leading European institutions."

About Eurand

Eurand is a privately held specialty pharmaceutical company that develops enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug delivery technologies. The company specializes in four areas: bioavailability enhancement of poorly soluble drugs, customized release, taste masking/fast-dissolving formulations, and drug targeting. Eurand has had three products approved by the FDA since 2000 and is currently developing a pipeline of products based on its proprietary drug delivery technologies. The company also works with many of the world's leading pharmaceutical and biotechnology companies to develop enhanced forms of their existing products and development compounds.

Eurand is a global company with more than 500 employees and annual revenue of more than $100 million. Eurand is based in Milan, Italy, with research, development and manufacturing facilities throughout the world, including sites in Milan, Italy; Vandalia, Ohio (US) and Paris, France.

For more information, visit http://www.eurand.com.