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MAGAININ PHARMACEUTICALS AND SANDOZ ANNOUNCE STRATEGIC ALLIANCE IN CANCER

 PLYMOUTH MEETING, Pa., Dec. 28 /PRNewswire/ -- Magainin Pharmaceuticals Inc. (NASDAQ: MAGN) and Sandoz Pharmaceuticals Corporation (SPC) today announced the signing of a product development and co-promotion agreement in the field of cancer. In a joint announcement, the companies said they are seeking to develop novel anti- cancer products derived from magainins.
 Jay Moorin, president and chief executive officer of Magainin stated: "Laboratory studies have demonstrated that magainins identify and kill cancer cells in much the same way they destroy bacteria and other foreign cells. Our scientists believe that magainins recognize the membrane of certain cancer cells as foreign and are capable of selectively attaching to and killing these cells. We believe that our relationship with Sandoz will give us access to Sandoz' expertise in cancer and permit the evaluation and testing of magainins for anti- cancer activity in a time frame that would not be possible by Magainin acting alone."
 Dr. Daniel Hauser, president of the Sandoz Research Institute in East Hanover, N.J., stated that "Sandoz Pharmaceuticals Corporation has made a long-term commitment to cancer research whose goal is the discovery and development of anti-cancer drugs with novel mechanisms of action. This commitment by Sandoz has been demonstrated by the development of a major program in oncology research. In addition, Sandoz has formed a 10-year partnership with the Dana-Faber Cancer Institute at Harvard University for the exploration of unique approaches to cancer treatment that brings basic research to a pharmaceutical development setting. This, in conjunction with the recently announced Scripps Clinic and Research Institute/Sandoz Agreement, serves as a model for the interaction of academia and industry. These substantial investments of human and financial resources are now being supplemented by the Magainin-Sandoz Agreement as a means for further enhancing the ability of SPC to explore novel approaches to cancer drug discovery and development."
 The initial research and evaluation phase of the agreement is intended to continue for 30 months, subject to a 12-month extension by Sandoz. During this period various magainins will be evaluated for anti-cancer activity, and Sandoz will have the exclusive worldwide right to develop magainins and any such new compounds in the field of cancer. magainin anticipates that most of the research and evaluation will be completed by Sandoz at Sandoz's expense. Any new compounds developed during this collaboration would be jointly owned by Magainin and Sandoz.
 If any compounds are selected for development as anti-cancer products under this agreement, Magainin would be entitled to receive certain milestone payments, and Sandoz would fund all clinical development and regulatory approval expenses. In addition, If any selected compounds are developed, approved and marketed, Magainin would be entitled to receive royalties on sales of such products and would have co-promotion rights in the United States and
Canada. Jointly- owned compounds that are not selected for development as anti-cancer products may be developed by Magainin, which would have exclusive rights to such compounds (subject to certain royalty obligations to Sandoz) for the treatment, prevention or diagnosis of disease or infections caused by bacteria, fungi, parasites or certain viruses.
 Sandoz Pharmaceuticals Corporation is engaged on the research, development, manufacture and marketing of both over-the-counter (OTC) pharmaceuticals and prescription products for organ transplantation, mental and emotional disorders, headache and other pain states, hypertension, Parkinson's Disease and cancer.
 Magainin is a biopharmaceutical company engaged in the research and development of anti-infectives and anti-cancer products based upon compounds isolated from the host-defense systems of animals.
 -0- 12/28/92
 /CONTACT: Jay Moorin of Magainin Pharmaceuticals, 215-941-4020, or Fern Lazar of Dewe Rogerson, 212-688-6840, for Magainin Pharmaceuticals/
 (MAGN)


CO: Magainin Pharmaceuticals Inc.; Sandoz Pharmaceuticals Corporation ST: Pennsylvania, New Jersey IN: MTC SU: JVN

KD-SM -- NY023 -- 0083 12/28/92 13:27 EST
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Date:Dec 28, 1992
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