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Alliance Pharmaceutical Corp. Announces Dismissal of Arbitration Proceedings With Hoechst Marion Roussel, Inc.

SAN DIEGO, Sept. 15 /PRNewswire/ -- Alliance Pharmaceutical Corp. (Nasdaq: ALLP) announced today that Hoechst Marion Roussel, Inc. and Alliance have dismissed the arbitration proceeding filed in September 1998 following the termination of a license agreement for Alliance's liquid breathing product, LiquiVent(R). At anytime during the next two years, Hoechst Marion Roussel, Inc. has agreed to sell to Alliance raw materials (perflubron) for up to $3 million that Alliance can use for its LiquiVent and Oxygent(TM) products. Alliance has committed to purchase such raw materials for its use under certain circumstances. This constitutes the only payments to be made by either party.

Alliance Pharmaceutical Corp. is a pharmaceutical research and development company with three products in late-stage human (clinical) development, each addressing a different medical need. Alliance's principal products are LiquiVent, an intrapulmonary agent for treatment of acute lung injury and acute respiratory distress syndrome; Oxygent, a perfluorochemical-based intravenous oxygen carrier ("blood substitute"); and Imagent(R), an ultrasound contrast agent being developed with Schering AG, Germany.

Except for historical information, the matters set forth in this release are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth herein, including the uncertainties associated with the conduct of preclinical or clinical studies and the timing or ability to investigate scientific data. Alliance refers you to cautionary information contained in documents the Company files with the Securities and Exchange Commission from time to time, including the last Form 10-K/A and Form 10-Q, and those risk factors set forth in the most recent registration statement on Form S-3 (File No. 333-76343).

For further information contact Gwen Rosenberg, Vice President, Corporate Communications, at (619) 558-4375.
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Publication:PR Newswire
Date:Sep 16, 1999
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