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BELMAC COMPLETES PHASE I CLINICAL TESTING ON TRANSDERMAL PATCH CO-DEVELOPED WITH ALZA CORPORATION

 TAMPA, Fla., Feb. 19 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today that it has completed Phase I clinical investigation in the United States on its transdermal anti-hemorrhoidal patch, ALPHANON(R). The transdermal patch is the product of a co-development effort by Belmac and ALZA Corporation (NYSE: AZA), a recognized leader in drug delivery systems.
 "We believe that the ability to deliver ALPHANON in a more predictable and medically acceptable dosage form via ALZA's patch delivery system accomplished a major technical milestone for Belmac," said Michael M. Harshbarger, president and chief operating officer. "If we are ever to reach significant markets such as treating hemorrhoids with this drug, we first needed to reach this stage of development. However, substantial milestones remain in front of us if we are ever to commercialize ALPHANON. For example, Phase II & III of human clinical trials alone will require substantial sums and several years of testing before we know for sure that the drug is safe and effective.
 Accordingly, Belmac is considering several options which include continuing Phase II and III clinical trials using Belmac's product development funds, co-developing the hemorrhoid medication with another firm who knows this market, or an outright divestiture.
 If Belmac chooses to continue development of the drug using its own funds, Harshbarger believes the cost will be several million dollars. "It is for this reason that we believe other options should be seriously considered," he added.
 ALPHANON has had a long and somewhat checkered path of development, but with the completion of Phase I clinical investigation, Belmac believes that the product has finally achieved a level of serious credibility, according to Harshbarger, who also lauded ALZA Corporation for its excellent efforts in developing an elegant delivery system.
 Belmac Corporation is an international pharmaceutical company based in Tampa, Fla.
 -0- 2/19/93
 /CONTACT: Michael D. Price of Belmac Corporation, 813-286-4401; or Harry Costello of Hill and Knowlton, 813-221-0030, for Belmac Corporation/
 (BLM AZA)


CO: Belmac Corporation; ALZA Corporation ST: Florida IN: MTC SU:

JB-SS-AW -- FL002 -- 8324 02/19/93 10:37 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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