FOUNTAIN PHARMACEUTICALS ENTERS LICENSING AGREEMENT WITH SPIRIG A.G.
LARGO, Fla., March 30 /PRNewswire/ -- Fountain Pharmaceuticals, Inc. (NASDAQ: FPHI) announced today it has entered into a licensing and supply agreement with Spirig A.G., the largest dermatological company in Switzerland. The arrangement encompasses both the Swiss and German markets, and Spirig placed an initial order for Fountain products valued at approximately $100,000. The agreement with Spirig should offer multiple advantages for Fountain, according to Fountain's president and CEO, John C. Walsh. "Spirig will not only be a distribution vehicle for our products, but could also become a potential source of new Fountain products for the U.S. market," said Walsh. "In addition, both companies are committed to the mutual development of compounds for eventual sale in Europe and in the U.S." Walsh added that the Spirig arrangement may also lead to production efficiencies in various European markets as the Swiss firm's facilities are being considered as a trans-European supply point. "Fountain's technology is particularly adaptable to our firm's on- going commitment to the improvement of dermatological products," said Dr. G. Birrenback, a Spirig managing partner. "We have been investigating drug delivery improvements for our products for some time and see many opportunities for the employment of Fountain's Lyphazome(R) system." Based in Largo, Fla., Fountain Pharmaceuticals is a publicly traded company that specializes in the application of encapsulated drug delivery systems for the pharmaceutical and cosmetic industries. The company's shares are traded in the NASDAQ small caps grouping. -0- 3/30/93 /CONTACT: John C. Walsh, CEO of Fountain Pharmaceuticals, 813-392-5300; or Helen Knight of Marketech, 813-254-4088, for Fountain Parmaceuticals/ (FPHI)
CO: Fountain Pharmaceuticals, Inc.; Spirig A.G. ST: Florida IN: MTC HOU SU:
JB-CM -- FL005 -- 1070 03/30/93 13:02 EST
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|Date:||Mar 30, 1993|
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