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SCIOS NOVA EXERCISES OPTION TO PURCHASE INTERESTS IN NOVA TECHNOLOGY LIMITED PARTNERSHIP

 MOUNTAIN VIEW, Calif., Jan. 7 /PRNewswire/ -- Scios Nova Inc. (NASDAQ: SCIO) today announced that it has exercised its option to purchase all of the limited partners' interests in Nova Technology Limited Partnership (NTLP). According to the terms of the agreement, the company issued approximately 2.2 million shares of Scios Nova common stock to the 3,000 limited partners in exchange for the assets of the partnership. The limited partners also retain certain royalty rights on future sales of products that were under development by NTLP.
 NTLP was formed in 1987 by Nova Pharmaceutical Corporation to provide funding for certain research and development projects. On Sept. 3, 1992, Nova merged with Scios Inc. to form Scios Nova.
 NTLP funded the research and development of three projects: anti- inflammatory agents called bradykinin antagonists, which are in preclinical development; the GLIADEL(R) implant to treat primary brain cancer, for which Phase III clinical studies have been completed; and the SEPTACIN(tm) implant for the treatment of osteomyelitis, a serious bone infection, which is in preclinical development.
 "The development of new therapies for inflammation is a primary focus for Scios Nova. We believe that bradykinin antagonists have significant potential in the treatment of a number of inflammatory conditions, and are undertaking a major effort towards the development of this important group of anti-inflammatory agents," said Richard L. Casey, Scios Nova chairman and chief executive officer. "The company is also considering several options to maximize the potential of the GLIADEL and SEPTACIN implants, products which were developed using Nova's proprietary BIODEL(R) drug delivery system."
 The purchase will be reflected in the company's statement of operations for the fourth quarter of 1992. The assets of NTLP consist principally of research and development in process and, accordingly, the purchase price will be charged to Operations in the fourth quarter. As a result, Scios Nova will report a one-time, non-cash charge of approximately $20.5 million, based on the $9.25 closing price of Scios Nova's common stock on Dec. 31, 1992.
 As of Dec. 31, 1992, Scios Nova had 34,618,112 shares of common stock outstanding, including the shares issued to purchase NTLP.
 Scios Nova is a biopharmaceutical company engaged in the discovery, development, and commercialization of novel human therapeutics. Scios Nova focuses its efforts in four areas: cardiovascular disease, inflammation, metabolic disorders, and tissue repair. The company's drug discovery technology encompasses both biotechnology techniques and small molecule design to develop new biopharmaceutical products. Scios Nova develops and commercializes products on a proprietary basis and in collaboration with established pharmaceutical companies.
 -0- 1/7/93
 /CONTACT: Kira Bacon of Scios Nova, Inc., 415-940-6629; or Robert Gottlieb of Feinstein Partners Inc., 617-577-8110 for Scios Nova/
 (SCIO)


CO: Scios Nova Inc. ST: California IN: MTC SU:

DD -- NE001 -- 2501 01/07/93 08:59 EST
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Publication:PR Newswire
Date:Jan 7, 1993
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