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PHARMOS RECEIVES NATIONAL INSTITUTES OF HEALTH GRANT

 PHARMOS RECEIVES NATIONAL INSTITUTES OF HEALTH GRANT
 NEW YORK, Oct. 5 /PRNewswire/ -- Pharmos Corp. and Pharmatec Inc.


(NASDAQ: PHTC) today announced it has received a $450,000 Phase II grant from the National Institutes of Health Small Business Research Program. The grant will cover Phase II studies of an injectable form of carbamazepine (CBZ), an anti-epileptic drug.
 Carbamazepine is the leading drug used to treat epilepsy, a brain disorder affecting approximately four million people in the United States. To date, CBZ is only available in tablet or oral suspension form. An injectable formulation would be used for epileptic patients unable to take oral medication, such as pediatric and epileptic trauma patients and those hospitalized for surgical procedures.
 "This NIH grant validates the success of our Phase I studies and demonstrates the potential of CBZ as an injectable treatment for epilepsy," said Stephen Streber, president and co-chairman of Pharmos. "This is another step in the continuing development of our newly merged entity."
 Pharmos was granted the NIH award based on the successful results of its Phase I studies. The results showed that developing an injectable form of CBZ is feasible using a water soluble modified cyclodextrin excipient which forms inclusion complexes with lipophilic drugs.
 Pharmos is developing injectable CBZ using its Molecusol(R) modified cyclodextrins, which can dramatically increase the solubility of CBZ and other drugs. The company was granted orphan drug designation by the FDA in 1990 for this product for emergency treatment of grand mal status epilepticus seizures.
 Pharmos Corporation is a pharmaceutical company engaged in the development of innovative therapeutic products to treat disorders of the eye and central nervous system. The company utilizes a variety of unique and proprietary technologies to provide effective new modes of delivery and enhanced levels of specificity for existing pharmaceutical compounds. Pharmos currently has 10 compounds in various stages of development, from preclinical to advanced clinical trials.
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 /CONTACT: Stephen R. Streber, president and co-chairman of Pharmos Corp., 212-838-0087, or Anthony J. Russo, Ph.D., of Noonan/Russo Communications, 212-979-9180, for Pharmos Corp./
 (PHTC) CO: Pharmos Corp.; Pharmatec Inc. ST: New York IN: MTC SU:


LR-OS -- NY024 -- 6456 10/05/92 09:41 EDT
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Date:Oct 5, 1992
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