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BRISTOL-MYERS SQUIBB COMPANY ANNOUNCES IN-LICENSING AGREEMENT FOR ORAL ULTRASOUND CONTRAST AGENT

 PRINCETON, N.J., March 8 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE: BMY) today announced that it has acquired the United States rights to manufacture and market a new oral ultrasound contrast agent under the trade name SonoRx (R) (cellulose, simethicone coated). Bristol-Myers Squibb Company acquired the rights to SonoRx through an in-licensing agreement with ImaRx Pharmaceutical Corp. of Tucson, Arizona, which discovered the product.
 SonoRx represents a new class of diagnostic imaging products that may be used by a broad range of medical practitioners who perform abdominal ultrasound procedures. SonoRx may allow physicians to see these internal organs more easily by eliminating the gas artifacts that can prevent clear delineation of structures in the region of interest. Administered orally 10 to 30 minutes prior to an ultrasound examination, SonoRx may aid in diagnosing gastrointestinal, pancreatic and liver disease.
 "We believe that SonoRx will satisfy a currently unmet clinical demand for more reliable depiction of gastrointestinal anatomy when using ultrasound techniques," said Dr. Brian Gallagher, Vice President of Strategic Product Planning - Diagnostics for Bristol-Myers Squibb Company. More than 133 million diagnostic ultrasound procedures were performed throughout the world in 1991, including more than 61 million in the United States.
 According to Dr. Evan Unger, president and chief executive officer of ImaRx Pharmaceutical Corp., "We elected to license SonoRx to Squibb Diagnostics for several reasons, including Bristol-Myers Squibb Company's worldwide presence and leadership position in the pharmaceutical industry and their commitment to exploring the cutting edge of ultrasound technology."
 Bristol-Myers Squibb Company will submit an Investigational New Drug (IND) application for SonoRx in 1993. Clinical trials are expected to be completed in 1994. SonoRx also was evaluated and well tolerated by a small group of human volunteers in studies conducted at the University of Arizona. SonoRx will be manufactured by Westwood Squibb, a Bristol- Myers Squibb Company, at a plant located in Buffalo, New York.
 Bristol-Myers Squibb Company is a research-based, diversified healthcare company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices. It is among the world's leading makers of cardiovascular, anticancer, anti-infective, central nervous system and dermatological drug therapies, diagnostic agents and non-prescription medicines.
 /delval/
 -0- 3/8/93
 /CONTACT: Patrick D. Donohue of Bristol-Myers Squibb Company 609-252-5685, or Kathy Loehrig, or Linda Pollock, both of Anne Klein & Associates, 609-778-0380, for Bristol-Myers Squibb Company/
 (BMY)


CO: Bristol-Myers Squibb Company ST: New Jersey IN: MTC SU: LIC

LD -- PH004 -- 3834 03/08/93 09:03 EST
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Date:Mar 8, 1993
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