GP Strategies Announces Agreement With Roberts Pharmaceutical Corporation.NEW YORK--(BUSINESS WIRE)--February 8, 1999-- Long-Term Hydron(TM) Implant To Deliver LHRH LHRH abbr. luteinizing hormone-releasing hormone LHRH Luteinizing hormone-releasing hormone, GnRH, gonadotropin-releasing hormone, LRH, LRF Endocrinology A decapeptide synthesized by hypothalamic neurons which Agonist for Prostate Cancer GP Strategies Corporation (NYSE NYSE See: New York Stock Exchange :GPX GPX - Early system on UNIVAC II. Listed in CACM 2(5):16 (May 1959). ) announced today that its Hydro Med Sciences drug delivery division has entered into exclusive licensing and manufacturing/supply agreements with Roberts Pharmaceutical Corporation (AMEX AMEX See: American Stock Exchange :RPC (Remote Procedure Call) A programming interface that allows one program to use the services of another program in a remote machine. The calling program sends a message and data to the remote program, which is executed, and results are passed back to the calling ). The agreements pertain to a Roberts' LHRH therapeutic and represent Hydro Med's first commercial collaboration for its Hydron Implant - a proprietary subcutaneous hydrogel hy·dro·gel n. A colloidal gel in which the particles are dispersed in water. hydrogel a gel that contains water. hydrogel Wound care A polymer absorptive wound dressing. See Dressing. retrievable device that can deliver a broad spectrum of therapeutic compounds at controlled, constant release rates for up to one year and longer. In exchange for milestone payments and royalties on future sales, Roberts received exclusive rights to develop and market this application of the Hydron Implant for the US, Canada and Europe. Roberts has licensed the Hydron Implant for use in the Phase III development of an LHRH agonist for the hormonal treatment of prostate cancer. The LHRH agonist, a Roberts therapeutic, is a synthetic gonadotropic hormone releasing factor agonist that, due to its long-term inhibition of pituitary pituitary /pi·tu·i·tary/ (pi-too´i-tar?e) 1. hypophysial. 2. pituitary gland; see under gland. anterior pituitary adenohypophysis. release of gonadotropins, can block both ovarian and testicular testicular /tes·tic·u·lar/ (tes-tik´u-lar) pertaining to a testis. tes·tic·u·lar adj. Of or relating to a testicle or testis. testicular pertaining to the testis. function. The LHRH Hydron Implant offers potentially significant advantages over standard drug therapies for prostate cancer. Other therapies involve the use of gonadotropin gonadotropin /go·nado·tro·pin/ (-tro´pin) any hormone that stimulates the gonads, especially follicle-stimulating hormone and luteinizing hormone. hormone releasing agonists with administration regimens ranging from low-dosage daily injections to high-dosage implants or depot injections of 3 to 4-months duration. The LHRH Hydron Implant should have distinct advantages by providing a more potent, reliable administration of smaller amounts of therapeutic agent over a longer time. "We are excited to announce our first corporate partner for the combination of our long-term Hydron Implant with a therapeutic active," commented Robert Feinberg, Hydro Med's President. "We believe that these agreements provide pharmaceutical validation for this broadly applicable platform technology." Scott N. Greenberg, Executive Vice President of GP Strategies stated, "As a result of this significant development for Hydro Med Sciences, one of GP Strategies remaining investments outside of the performance improvement industry has become enhanced." Hydro Med Sciences is a drug delivery company that designs, develops and manufactures a broad range of polymer-based products based upon its Hydron technology for pharmaceutical and veterinary drug delivery applications. GP Strategies is a performance improvement company with more than 2,200 professionals in 75 offices worldwide. The forward-looking statements contained herein reflect GP Strategies' management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of GP Strategies, including, but not limited to those risks and uncertainties detailed in GP Strategies' periodic reports and registration statements filed with the Securities and Exchange Commission. |
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