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LIDAK PHARMACEUTICALS U.S. LICENSING NEGOTIATIONS TERMINATED; COMPANY POISED TO LAUNCH PHASE II CLINICAL TRIALS

 LIDAK PHARMACEUTICALS U.S. LICENSING NEGOTIATIONS TERMINATED;
 COMPANY POISED TO LAUNCH PHASE II CLINICAL TRIALS
 LA JOLLA, Calif., Oct. 23 /PRNewswire/ -- LIDAK Pharmaceuticals (NASDAQ: LDAKA) announced that negotiations for a licensing agreement for further clinical development and marketing of the company's topical anti-viral product, Lidakol, in the U.S., Canada and U.S. territories have been terminated. All rights to the product in these territories remain with the company.
 LIDAK also announced that the U.S. Food and Drug Administration has favorably reviewed the company's protocols for Phase II clinical trials of Lidakol for treating genital and oral herpes and have allowed such clinicals to proceed. Genital herpes studies are scheduled to begin in the U.S. in November. Trials on oral herpes are due to begin in Europe around the same time under a license agreement concluded in late 1991 and are expected to commence in the U.S. sometime thereafter. The company will continue to seek other arrangements for development and marketing of this product in all non-licensed territories.
 LIDAK Pharmaceuticals is developing pharmaceutical products for the health care industry. LIDAK is currently focusing its efforts on the commercialization of Lidakol as a treatment for herpes and other indications. Also, the company's longer-term projects include the development of proprietary technology for potential new therapeutic and diagnostic approaches to diabetes, cancer and AIDS.
 -0- 10/23/92
 /CONTACT: Michael H. Lorber, vice president/CFO of LIDAK Pharmaceuticals, 619-558-0364, or Fern Lazar of Dewe Rogerson, 212-688-6840, for LIDAK Pharmaceuticals/
 (LDAKA) CO: Lidak Pharmaceuticals ST: California IN: MTC SU:


LD-TM -- NY003 -- 4034 10/23/92 09:37 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
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