FOUNTAIN PHARMACEUTICALS SIGNS OPTION AGREEMENT
FOUNTAIN PHARMACEUTICALS SIGNS OPTION AGREEMENT LARGO, Fla., April 13 /PRNewswire/ -- Fountain Pharmaceuticals, Inc.
(NASDAQ: FPHI) announced today the signing of an option agreement for Fountain to commence a feasibility study as to the application of the company's Liposome-based Solvent Dilution Microcarriers (SDMCs) to one of the pharmaceutical products of Solvay Duphar, b.v.
If the results of the feasibility study are satisfactory to Duphar, the agreement grants to Duphar the option to acquire exclusive worldwide rights (except for the United States) to utilize Fountain's SDMCs with respect to this particular product. Solvay Duphar will provide financial support for the research necessary to conduct this study. Other specific terms of the transaction were not disclosed. Dr. Michael Fountain, president and chief executive officer of Fountain Pharmaceuticals, said: "We are extremely pleased to be associated with this dynamic organization, as this agreement may accelerate the international deployment of our liposomal drug delivery technology." Solvay Duphar is a member of the Solvay Duphar Pharmaceutical Group, together with Solvay Pharma Deutchland and Solvay Pharmaceuticals, Inc. in the United States. According to a spokesman of Solvay Duphar, b.v., the group has substantial worldwide sales and specializes in the development and marketing of Rx drugs for cardiovascular diseases, affective disorders, gynecology and gastroenterology. Fountain Pharmaceuticals, Inc. is a development stage company specializing in the application of encapsulated drug delivery systems that improve drug compound delivery and enhance effectiveness of existing products. Fountain also develops proprietary products with applications in human health care and consumer goods industries. /delval/ -0- 4/13/92 /CONTACT: Dr. Michael Fountain, president and ceo of Fountain Pharmaceuticals, 813-392-5300/ (FPHI) CO: Fountain Pharmaceuticals; Solvay Duphar, b.v. ST: Florida IN: MTC SU:
JS-KA -- PH024 -- 7832 04/13/92 13:55 EDT
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|Date:||Apr 13, 1992|
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