Genta Jago announces GEOMATRIX deal with Bristol-Myers Squibb's Apothecon.SAN DIEGO--(BUSINESS WIRE)--March 5, 1996--Genta Jago Technologies B.V., a joint venture between Genta 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 :GNTA) and Jagotec AG, Tuesday announced that it has signed a product licensing and development agreement with Apothecon Inc., the multisource subsidiary of Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were . The agreement covers the development and commercialization of a generic extended-release formulation of QD-CR ketoprofen (Oruvail) using GEOMATRIX technology. Genta Jago recently completed a pilot pharmacokenetic study comparing GEOMATRIX ketoprofen with Oruvail. Under the terms of the agreement, Apothecon will fund formulation, development and clinical testing conducted by Genta Jago. "Apothecon is committed to offering its customers a more comprehensive product line," said Lee Burg, vice president and general manager of Apothecon. "This is a significant agreement for Genta Jago which we believe further validates the value of GEOMATRIX technology," said Thomas H. Adams, chairman and chief executive officer of Genta. "We believe that this agreement with Apothecon will help Genta Jago establish the presence of this unique technology in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. marketplace." Genta Jago was formed in December 1992 to develop controlled-release formulations of approximately 30 Food and Drug Administration-approved and marketed products. In May 1995, Genta Jago expanded its joint venture to include an additional 30 products. Of the seven products currently in development, Genta Jago believes that its corporate partners may be able to file abbreviated new drug applications abbreviated new drug application Pharmacology An application made in the US by a pharmaceutical company requesting authority to market a 'new' drug for which both its therapeutic indications and formulation were previously approved by the FDA in another similar for two of these by late 1996 or early 1997. The joint venture is currently in discussions with a number of companies regarding other GEOMATRIX product candidates. The GEOMATRIX technology has been incorporated into several products marketed by other companies in the United States and Europe. Combined sales of these GEOMATRIX formulations reached almost $150 million in 1995. None of these products is licensed to Genta Jago. Except for the historical information contained herein, the matters discussed in the news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including whether the proposed product can be successfully formulated, scaled-up, developed and commercialized, whether regulatory approvals can be obtained, the impact of competitive products and pricing, and other risks detailed from time to time in Genta's Securities and Exchange Commission (SEC) reports, including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1994, and Genta's quarterly reports on Form 10-Q Form 10-Q See 10-Q. . These forward-looking statements represent Genta's and Genta Jago's judgment as of the date of this release. Actual results may differ materially from those projected. Genta and Genta Jago disclaim dis·claim v. dis·claimed, dis·claim·ing, dis·claims v.tr. 1. To deny or renounce any claim to or connection with; disown. 2. To deny the validity of; repudiate. 3. , however, any intent or obligation to update these forward-looking statements. Founded in 1983, Jagotec AG, Hergiswil, Switzerland, is a drug delivery company with several patented technologies, including GEOMATRIX oral controlled-release, aerosol aerosol (âr`əsōl,–sŏl): see colloid. aerosol System of tiny liquid or solid particles evenly distributed in a finely divided state through a gas, usually air. and topical deliveries. Jago Holding AG, Hergiswil, is the operational subsidiary of Jago Holding. Genta is an integrated biopharmaceutical company with a diversified product development pipeline. In the near term the company is developing, through Genta Jago Technologies B.V., oral controlled-release drugs utilizing the patented GEOMATRIX drug delivery technology. Longer term, Genta is developing proprietary Anticode technologies to treat diseases at their genetic source. CONTACT: Genta Inc. Thomas H. Adams, 619/455-2700 or JAGO Pharma AG Andrew Francis Andrew Francis (born May 27, 1985) is a well known voice actor/ actor from Vancouver, British Columbia. He has appeared in many television shows including “Poltergeist”, “Dark Angel”, “Twilight Zone”, “The L Word”, , 41-61-467-5555 |
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