PDT Inc. and Pharmacia & Upjohn sign co-development agreement for ophthalmology; the companies will co-develop SnET2 in photodynamic therapy for serious eye diseases.SANTA BARBARA, Calif.--(BUSINESS WIRE)--Aug. 28, 1996--PDT 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 :PDTI) and Pharmacia & Upjohn (NYSE NYSE See: New York Stock Exchange :PNU PNU Physics News Update PNU Party of National Unity (Kenya) PNU Pusan National University (Korea) PNU Philippine Normal University (Manila, Philippines) PNU Pharmacia and Upjohn ) Wednesday announced that they have signed an agreement for co-development of SnET2 (tin ethyl ethyl (ĕth`əl), CH3CH2, organic free radical or alkyl group derived from ethane by removing one hydrogen atom. etiopurpurin) for ophthalmology. SnET2 is a light-activated drug under evaluation for use in photodynamic therapy to selectively destroy diseased cells and tissues. Pharmacia & Upjohn will reimburse PDTI for incurred ophthalmology development expenses and will fund future clinical and preclinical studies of SnET2 for treating diseases of the eye. Pharmacia & Upjohn will also make milestone payments and will pay royalties to PDTI upon commercialization of SnET2. ``This agreement reinforces Pharmacia & Upjohn's commitment to rapid development of SnET2 in many disease specialties,'' said Gary S. Kledzik, Ph.D., chairman and chief executive officer of PDTI. ``Pharmacia & Upjohn's worldwide position in ophthalmology is key to future global commercialization of SnET2 for serious eye diseases.'' Pharmacia & Upjohn acquired the exclusive worldwide license to SnET2 in July 1995. PDTI and Pharmacia & Upjohn agreed to initially co-develop SnET2 in the fields of oncology, urology and dermatology. The new agreement will be effective upon the execution of corresponding amendments to existing supply agreements. ``This agreement adds ophthalmology as the fourth medical specialty for SnET2 co-development,'' said Lars Ingelmark, vice president, Pharmacia & Upjohn and president PPC See Pocket PC, PowerPC and pay-per-click. PPC - PowerPC Sweden. ``We are happy to have access to this technology for ophthalmology. Pharmacia & Upjohn has a leading position today in cataract surgery.'' PDTI is testing SnET2 in a Phase I/II clinical trial for treating advanced age-related macular degeneration Age-related macular degeneration (ARMD) Degeneration of the macula (the central part of the retina where the rods and cones are most dense) that leads to loss of central vision in people over 60. (AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. ), a leading cause of blindness. Over 1.2 million Americans suffer from this form of AMD. PDTI is also testing SnET2 in preclinical studies for other vision-threatening eye diseases. PDTI and Pharmacia & Upjohn are conducting Phase II/III clinical trials of SnET2 for certain skin cancers, including treatment of cutaneous cutaneous /cu·ta·ne·ous/ (ku-ta´ne-us) pertaining to the skin. cu·ta·ne·ous adj. Of, relating to, or affecting the skin. Cutaneous Pertaining to the skin. metastatic Metastatic The term used to describe a secondary cancer, or one that has spread from one area of the body to another. Mentioned in: Coagulation Disorders metastatic pertaining to or of the nature of a metastasis. breast cancer and AIDS-related Kaposis sarcoma sarcoma (särkō`mə), highly malignant tumor arising in connective- and muscle-cell tissue. It is the result of oncogenes (the cancer causing genes of some viruses) and proto-oncogenes (cancer causing genes in human cells). . PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT develops pharmaceuticals and devices for photodynamic therapy with a focus on the integration of drugs and light into medical systems for outpatient and office procedures. Photodynamic therapy is a medical procedure which uses light-activated drugs to treat or diagnose diseases, with potential applications in a number of medical specialties, including cancer, urology, dermatology, ophthalmology, cardiology and gynecology. Pharmacia & Upjohn is a research-based, pharmaceutically focused company dedicated to helping people around the world live longer and fuller lives. The company was formed through a merger of Pharmacia AB and The Upjohn Co. and began operating in November 1995. Pharmacia & Upjohn is a provider of human health care products and related products, and operates on a global basis. The company has a corporate management center in London and major research and manufacturing centers in the United States, Sweden and Italy. Statements in this announcement about the potential of photodynamic therapy in ophthalmology may be deemed forward-looking statements under federal securities laws that involve risks and uncertainties. Actual results may differ materially from those in the forward-looking statements depending on a number of factors, including, among other things, the timing and uncertainty of results of both research and regulatory processes, the unproven safety and efficacy of the drug and device products, and other factors and risks detailed in the Registration Statements for PDT on Form S-3 (Reg. St. No. 333-1786), declared effective by the Securities and Exchange Commission on April 30, 1996, and detailed from time to time in the company's reports filed with the Securities and Exchange Commission. CONTACT: PDT Inc., Santa Barbara Laurens Lichty/Jan Wiegand, 805/685-9880 or Pharmacia & Upjohn PPC Sweden Britt Louise Holmstrom, +46 8 695 87 96 Lennart Bruce, +46 8 695 70 02 Goran Pettersson, +46 18 16 32 06 |
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