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HYAL PHARMACEUTICAL PROVIDES DEVELOPMENT UPDATE AT SPROTT HEALTH CARE CONFERENCE

 TORONTO, Jan. 21 /PRNewswire/ - At the Second Annual SPROTT Securities' Health Care Conference, Dr. Asculai, President and C.E.O. of Hyal Pharmaceutical Corporation (NASDAQ-NMS: HYALF; TSE: HPC) stated that the Company is on target with its clinical development program timetable. He informed the gathering that two of the Company's most advanced products are in Phase III clinical trials and the third product is about to enter Phase III trials. Results from these trials should start to become available in the Third Quarter of 1993. These results will form the basis of submissions to various health authorities worldwide for approvals to market.
 Pilot studies on HYAL-CT1101, used in the treatment of basal cell carcinomas (skin cancer) resulted in every patient responding positively to treatment. As HYAL-CT1101 progresses through the currently on-going multi-center Phase III clinical trials, the Company is confident that this product will prove to be a highly effective, non-invasive, non- surgical, non-scarring alternative to current treatments for existing patients as well as for the 700,000 new cases occurring annually in the U.S., Canada and Australia alone.
 Phase III clinical trials on HYAL-AT2101, for the topical treatment of pain, were recently completed at the Kaiser Franz Josef Hospital in Vienna. These results demonstrated that this product provided rapid onset and sustained pain relief in patients suffering from pain associated with rheumatoid and osteo-arthritis. Ongoing Phase III clinical trials for this product are designed to demonstrate that HYAL- AT2101 is far superior to products currently sold in the US$1.2 billion European and Asian markets. This product's superior efficacy may afford it the opportunity to enter the as yet untapped North American market.
 Finally, HYAL-AV2201, for post operative pain relief, is entering the first of a series of Phase III clinical trials in Gothenburg, Sweden this Quarter. In pilot studies, patients given a single intravenous dose experienced sustained post-operative pain relief for up to 24 hours without gastrointestinal side effects. It is estimated that 220,000,000 doses of injectable analgesics were given in 1991, with the majority used for managing post-operative pain.
 Dr. Asculai also reviewed the Company's financial position and pointed out that the Company is debt-free and has sufficient funds to complete development of its three lead products.
 Hyal has established a network of leading researchers in the HA and non-steroidal anti-inflammatory drug (NSAID) areas who through their work with Hyal are contributing to the basic understanding of Hyal's proprietary drug delivery technology.
 Dr. Asculai summed up by saying, The company's plan is to develop novel topical and intravenous formulations utilizing its proprietary hyaluronic acid based drug delivery technology. This rapid, cost effective development strategy will be combined with out-licensing for product commercialization.''
 -0- 1/21/93
 /CONTACT: Samuel S. Asculai, president and CEO, 416-366-4863; David Harper, vice president development, 416-366-4863, both of Hyal Pharmaceutical; or Diane Perry of Financial Relations Board, 212-661-8030, for Hyal/
 (HYALF)


CO: Hyal Pharmaceutical Corporation ST: Ontario IN: MTC SU:

KD -- NY065 -- 7491 01/21/93 14:19 EST
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Date:Jan 21, 1993
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