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Adenosine Therapeutics Announces Collaboration and License Agreement with DuPont Pharmaceuticals for New Compounds to Help in Heart Disease Diagnosis.

CHARLOTTESVILLE, Va., April 3 /PRNewswire/ --

Adenosine Therapeutics, LLC, announced today it has signed a licensing agreement for its potent coronary vasodilator compounds, ATL-146e and ATL-193, with DuPont Pharmaceuticals Company. Under the agreement, DuPont Pharmaceuticals has obtained a worldwide license for the development and use of these compounds within the heart imaging field for the diagnosis and prognosis of coronary artery disease, while Adenosine Therapeutics will retain rights in all other fields.

"These new compounds hold the promise of being used in medical imaging procedures for up to two million patients each year without the side effects that occur with drugs that are currently available," said Adenosine Therapeutics Co-Founder and Chief Executive Officer Robert Capon. "This alliance with DuPont Pharmaceuticals will optimize our ability to bring the benefits of our research to these patients and also furthers our goal of commencing clinical trials within the fields of inflammation and organ transplantation, where Adenosine Therapeutics also has substantial expertise."

DuPont Pharmaceuticals will pay Adenosine Therapeutics an undisclosed licensing fee, funding for a three-year research program, milestone payments tied to clinical accomplishments and downstream royalties. DuPont also has agreed to finance the clinical trials and to license all data back to Adenosine Therapeutics for use in clinical trials outside of the licensed field.

"These promising new compounds are exciting additions to our cardiovascular portfolio and underscore DuPont's commitment and leadership to the field of nuclear cardiology," said DuPont Pharmaceuticals' Chairman and Chief Executive Officer Kurt M. Landgraf. "Most importantly, this agreement, like our other recent strategic partnerships, will enhance our ability to develop and market new pharmaceuticals that have the potential to benefit millions of patients."

The compounds ATL-146e and ATL-193 are potent, selective agonists of A2A adenosine receptors that were developed at the University of Virginia and licensed to Adenosine Therapeutics in a broad-based adenosine licensing agreement in April 1999.

"Our licensing agreement with Adenosine Therapeutics is part of a comprehensive licensing program underway at the University of Virginia," said Robert MacWright, executive director of the University of Virginia Patent Foundation. "This promising collaboration between Adenosine Therapeutics and DuPont Pharmaceuticals is an example of achieving both academic and practical goals by performing world-class research and applying this research to bring important medical benefits to patients worldwide. We're very proud to be a part of this endeavor."

The compounds were co-invented by Joel Linden, Ph.D., one of the world's leading researchers in the adenosine receptor field, and Timothy Macdonald, Ph.D., chairman of the chemistry department at the University of Virginia. Pre-clinical research, performed under the direction of David K. Glover, M.E., was conducted in the research laboratory of Dr. George Beller, chief of the cardiovascular division at the University of Virginia Health System. Linden, co-founder and chief scientific officer of Adenosine Therapeutics, notes that "in addition to their use as pharmacologic stress agents, these compounds have therapeutic potential as rapidly-acting anti-inflammatory agents."

"The road to successfully developing a new drug is long and arduous," said Capon. "We have a lot of work ahead of us, but we think this agreement with DuPont Pharmaceuticals is a significant milestone in the development of this important class of adenosine compounds."

Adenosine Therapeutics is a biotechnology company focused on the discovery and development of novel agonists and antagonists of adenosine receptor subtypes. The company's compounds that activate the A2A adenosine receptor may have applications for medical imaging and for the potential treatment of infection, ischemia-reperfusion injury, spinal cord injury and organ transplantation. Adenosine Therapeutics has additional compounds in its product development pipeline that target asthma, stroke, diabetes and cancer.

DuPont Pharmaceuticals, a wholly owned independent subsidiary of DuPont (NYSE: DD), is a worldwide business that focuses on research, development and delivery of pharmaceuticals and medical imaging products and is headquartered in Wilmington, Del. DuPont is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition; health care; apparel; home and construction; electronics; and transportation. Founded in 1802, the company operates in 65 countries and has 94,000 employees.

Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to, changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance and seasonality of sales of agricultural products.

For more information about Adenosine Therapeutics, call Robert Capon at (804) 971-6800.
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Date:Apr 3, 2000
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