Zonagen Announces Sale of Fertility Technologies Subsidiary to SAGE BioPharma.THE WOODLANDS, Texas--(BW HealthWire)--March 18, 1999--Zonagen Inc. (Nasdaq:ZONA)(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :ZNG ZNG Zbor Nacionalne Garde (Croatian National Guard) ) today announced it has completed the sale of substantially all of the assets of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Fertility Technologies Inc. (FTI FTI Free thyroxine index, see there ) to SAGE BioPharma Inc., a subsidiary of Counsel Corporation (Nasdaq:CXSNF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CXS). FTI markets and distributes a variety of diagnostics, devices, media and instruments required in Assisted Reproductive Technique (ART) procedures. Zonagen's core business is developing and commercializing innovative drug products that address conditions associated with the reproductive system, according to Joseph S. Podolski, president and chief executive officer of Zonagen Inc. "Through FTI we have gained knowledge about the fertility marketplace, however, FTI, which is primarily a service and distribution business, represents a small business opportunity for Zonagen. We believe it is more important to concentrate our efforts and resources on our drug development program, which is already yielding exciting new developments. During the past year alone, we submitted our first New Drug Application (NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any ), we began clinical trials of Vasofem in women, and added key management personnel to our clinical, regulatory and business development departments." Zonagen Inc. is engaged in the development of pharmaceutical products for the reproductive system, including sexual dysfunction, urology, contraception and infertility. A copy of this press release may be obtained via facsimile by dialing 888/329-0920 or via the Internet by accessing www.zonagen.com. Any statements that are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to those relating to the uncertainties related to the Company's early stage of development, clinical trial results and FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval in the U.S. and approval of regulatory authorities in other jurisdictions, substantial dependence on one product, history of operating losses, future capital needs and uncertainty of additional funding, uncertainty of protection for patents and proprietary technology, 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. , governmental regulation, limited sales and marketing experience and dependence on collaborators, manufacturing uncertainties and reliance on third parties, competition and technological change, product liability and availability of insurance, and other risks identified in the Company's Annual Report on Form 10-K for the year ended December 31, 1998, as filed with the Securities and Exchange Commission. |
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