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NEORX CORPORATION AND STERLING WINTHROP INC. SIGN LICENSE AGREEMENT FOR CANCER RADIOIMMUNOTHERAPY TECHNOLOGY

 NEORX CORPORATION AND STERLING WINTHROP INC. SIGN LICENSE
 AGREEMENT FOR CANCER RADIOIMMUNOTHERAPY TECHNOLOGY
 SEATTLE, Sept. 21 /PRNewswire/ -- NeoRx Corporation (NASDAQ: NERX) and Sterling Winthrop Inc. today announced they have signed a definitive agreement, previously announced June 3, 1992, whereby Sterling Winthrop gains a non-exclusive license to use certain of NeoRx's proprietary technology for labeling antibodies and other targeting proteins with therapeutic radiometals for cancer therapy. NeoRx also granted to Sterling Winthrop exclusive rights to certain antibodies for use in radioimmunotherapy (RIT) of cancer rights to these antibodies for other forms of cancer therapy. The agreement also settled all of the outstanding claims between the parties.
 Under the definitive agreement, NeoRx received $1.5 million cash and netted two million shares of NeoRx common stock held by Sterling Winthrop. NeoRx will receive an additional $500,000 upon the transfer of certain information and material to Sterling Winthrop. In addition. Sterling Winthrop will pay a royalty on sales of all Sterling Winthrop products incorporating the licensed NeoRx technology and antibodies.
 NeoRx Corporation develops targeted biopharmaceutical products that detect and treat human illnesses with a primary focus on cancer. The company has three cancer therapy trials in progress, has filed for marketing approval with the FDA for two OncoTrac(R) cancer imaging products and has completed a phase III trail for third imaging product. Targeted biopharmaceuticals to treat cancer and restenosis after angioplasty are in pre-clinical testing.
 -0- 9/22/92
 /CONTACT: Robert M. Littauer, vice president, chief financial officer and treasurer of NeoRx Corporation, 206-286-2519, or Anthony J. Russo or Susan A. Noonan of Noonan/Russo Communications, 212-979-9180, for NeoRx/
 (NERX) CO: NeoRx Corporation; Sterling Winthrop Inc. ST: Washington IN: MTC SU: LIC


TS-AH -- NY019 -- 1519 09/21/92 09:26 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
Words:290
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