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MACROCHEM ANNOUNCES UPJOHN COMMENCES PHASE III CLINICAL STUDIES AND AGREEMENT TO RAISE ADDITIONAL CAPITAL

 MACROCHEM ANNOUNCES UPJOHN COMMENCES PHASE III CLINICAL STUDIES
 AND AGREEMENT TO RAISE ADDITIONAL CAPITAL
 BOSTON, Oct. 8 /PRNewswire/ -- MacroChem (NASD Bulletin Board: MCHMC) announced today that The Upjohn Company (NYSE: UPJ) has commenced Phase III clinical studies of Rogaine, its hair growth product, with one of the company's SEPA compounds and will soon be receiving another milestone payment from The Upjohn Company.
 MacroChem also announced that it has agreed in principle to raise between $5,250,000 and $7,350,000 of capital through a private placement of its securities in the near future. The company recently raised approximately $300,000 in the form of a bridge loan. Alvin J. Karloff, the company's president, stated, "We are very excited and pleased with Upjohn's progress. Commencing Phase III clinical studies is another important step in the development of our SEPA technology. The additional capital the company is seeking to raise will increase our working capital position and enhance our marketing, research and developmental efforts."
 MacroChem develops and licenses transdermal drug-delivery compounds and systems. Transdermal drug-delivery assists in the delivery of a drug from the surface of the skin into the bloodstream. The company's primary products are chemical compounds known as soft enhancers of percutaneous absorption (SEPAs). The company is also developing an electrical (iontophoretic) system that is intended to use mild electrical currents to deliver drugs through skin.
 -0- 10/8/92
 /CONTACT: Alvin J. Karloff, president, MacroChem, 617-862-4003/
 (MCHM UPJ) CO: The Upjohn Company; MacroChem ST: Massachusetts, Michigan IN: MTC SU:


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Publication:PR Newswire
Date:Oct 8, 1992
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