Indevus Announces Conclusion of Discussions With Aventis on Pagoclone.Business Editors and Health/Medical Writers LEXINGTON, Mass.--(BUSINESS WIRE)--Aug. 29, 2002 Indevus 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 : IDEV IDEV International Development ) today announced that Aventis has declined to exercise its contractual option to develop pagoclone, an anti-anxiety agent. As a result, Indevus is now free to pursue a new worldwide development partnership for the commercialization of pagoclone. The company is continuing its contacts with several multinational pharmaceutical companies regarding partnering opportunities for Pagoclone. A total of six clinical trials have been conducted with pagoclone in generalized anxiety disorder Generalized Anxiety Disorder Definition Generalized anxiety disorder is a condition characterized by "free floating" anxiety or apprehension not linked to a specific cause or situation. and panic disorder Panic Disorder Definition A panic attack is a sudden, intense experience of fear coupled with an overwhelming feeling of danger, accompanied by physical symptoms of anxiety, such as a pounding heart, sweating, and rapid breathing. . Data from these trials, combined with extensive clinical pharmacology, manufacturing process and commercial formulation work completed to date, underscore the potential of pagoclone as a novel anti-anxiety agent and represent the basis of future clinical development decisions by Indevus or its prospective partners. Indevus Pharmaceuticals is a biopharmaceutical company engaged in the development and commercialization of a portfolio of products and product candidates, including multiple compounds in late-stage clinical development. The Company's lead products under development include trospium for overactive bladder Overactive Bladder Definition Overactive bladder is the leakage of large amounts of urine at unexpected times, including during sleep. Description , pagoclone for panic/anxiety disorders, PRO 2000 for the prevention of infection by HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and other sexually transmitted pathogens, dersalazine for inflammatory bowel disease inflammatory bowel disease n. Abbr. IBD Any of several incurable and debilitating diseases of the gastrointestinal tract characterized by inflammation and obstruction of parts of the intestine. , and CT-3 for pain and inflammation. Except for the descriptions of historical facts contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties are set forth in the Company's filings under the Securities Act of 1933 and the Securities Exchange Act of 1934 under "Risk Factors" and elsewhere, and include, but are not limited to: uncertainties relating to clinical trials, including the Phase III trial with trospium, regulatory approval and commercialization of our products; the early stage of products under development; need for additional funds and corporate partners, including for the development of pagoclone; history of operating losses and expectation of future losses; product liability and insurance uncertainties; risks relating to the Redux-related litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; dependence on third parties for manufacturing and marketing; competition; risks associated with contractual arrangements; limited patent and proprietary rights; and other risks. |
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