Printer Friendly

LIDAK PHARMACEUTICALS AND BROCADES PHARMA ANNOUNCE LICENSE AGREEMENT

LIDAK PHARMACEUTICALS AND BROCADES PHARMA ANNOUNCE LICENSE AGREEMENT
 LA JOLLA, Calif., Nov. 11 /PRNewswire/ -- LIDAK Pharmaceuticals (NASDAQ: LDAKU, LDAKA) announced today that it has entered into a licensing agreement with Brocades Pharma bv of the Netherlands for clinical development, marketing and distribution in Europe of LIDAKOL(TM), LIDAK's topical therapeutic anti-herpes compound.
 Under terms of the agreement, LIDAK and Brocades Pharma, a Yamanouchi Group Company, will jointly design clinical trials of LIDAKOL to be conducted by Brocades Pharma to confirm clinical efficacy and subsequently generate data to support regulatory approval for market introduction of LIDAKOL in Europe and several other countries.
 LIDAK has been engaged in the development of LIDAKOL for over two years. Much of the preclinical development and Phase 1 human clinical trials of LIDAKOL have been completed. Upon successful completion of certain milestones, the agreement provides for a substantial investment by Brocades Pharma over the next three to four years to cover the entire costs of clinical trials and regulatory approvals, the costs of manufacturing development and scale-up, and the costs of marketing and distribution of the final product. After market introduction, LIDAK will receive royalties on sales of the product in the subject territories.
 In commenting on the agreement, Dr. David Katz, chairman and chief executive officer of LIDAK, stated, "The agreement represents a significant milestone for LIDAK and LIDAKOL. Brocades Pharma possesses the financial and marketing resources to rapidly and effectively introduce LIDAKOL in Europe. We currently anticipate that, if clinical trials and regulatory approvals proceed successfully, LIDAKOL will be introduced to the European market by the end of 1994. LIDAK is currently pursuing licensing agreements for LIDAKOL in other major geographical markets."
 Brocades Pharma, formerly the pharmaceutical division of Gist-Brocades, was acquired by Yamanouchi, one of the larger pharmaceutical companies in Japan, in February 1991.
 LIDAK Pharmaceuticals is developing and commercializing innovative pharmaceutical and other products for the health care field. In addition to developing LIDAKOL as a treatment for herpes and other indications, LIDAK is developing new therapeutic approaches for cancer, AIDS and autoimmune diseases based on technologies acquired from Medical Biology Institute through an exclusive 20-year technology license agreement.
 -0- 11/11/91
 /CONTACT: David H. Katz, M.D., chairman and CEO, 619-450-1538, or Michael H. Lorber, VP and CFO, 619-558-0364, both of LIDAK Pharmaceuticals; or Michael J. Burns, Ph.D., licensing manager of Brocades Pharma (Netherlands), 011-31-71-455-828; or Elizabeth A. Gard of Rifkind Pondel & Parsons, 213-207-9300, for LIDAK Pharmaceuticals/
 (LDAKA) CO: LIDAK Pharmaceuticals; Brocades Pharma bv ST: California IN: MTC SU: LIC CA -- LA008 -- 2885 11/11/91 09:01 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1991
Words:430
Previous Article:ICELANDAIR WILL INCREASE THE NUMBER OF FLIGHTS TO LUXEMBOURG
Next Article:REUTERS LAUNCHES ANALYTICS PRODUCTS
Topics:


Related Articles
NEW ANTI-VIRAL COMPOUND REPORTED BY LIDAK PHARMACEUTICALS
NEW ANTI-VIRAL COMPOUND REPORTED BY LIDAK PHARMACEUTICALS
FOUNTAIN PHARMACEUTICALS SIGNS AGREEMENT WITH BROCADES PHARMA
LIDAK INITIATES PHASE II CLINICAL TRIAL FOR ORAL HERPES
LIDAK SIGNS LICENSING AGREEMENT WITH CTS CHEMICAL INDUSTRIES FOR MANUFACTURE AND MARKETING OF LIDAKOL
LIDAK PHARMACEUTICALS' LEAD DRUG CANDIDATE COMPLETES FIRST PHASE II CLINICAL TRIAL
LIDAK PHARMACEUTICALS AND BRISTOL-MYERS SQUIBB SIGN MULTI-NATIONAL COLLABORATIVE LICENSING AGREEMENT FOR LIDAKOL(TM)
LIDAK Pharmaceuticals Reports Cancellation of Bristol-Myers Squibb North American License
LIDAK Pharmaceuticals Announces Termination of Discussions With HealthMed, Inc.
LIDAK Pharmaceuticals Retains Dilenschneider Group to Direct Expanded Corporate/Investor Communications Program

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters