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NEORX TO GRANT LICENSE FOR RHENIUM CANCER THERAPY TO STERLING WINTHROP AS PART OF A $10 MILLION AGREEMENT

 NEORX TO GRANT LICENSE FOR RHENIUM CANCER THERAPY
 TO STERLING WINTHROP AS PART OF A $10 MILLION AGREEMENT
 SEATTLE, June 3 /PRNewswire/ -- NeoRx Corporation (NASDAQ: NERX) today announced that it has signed a binding agreement with Sterling Winthrop Inc. and Eastman Kodak Co. (NYSE: EK).
 Under this agreement, within 30 days, the parties expect to execute a definitive agreement which includes a non-exclusive license to NeoRx's proprietary technology for labeling antibodies and other targeting proteins with rhenium-186 and rhenium-188 radionuclides. NeoRx will also grant to Sterling Winthrop exclusive rights to certain antibodies for use in radioimmunotherapy (RIT) of cancer and non-exclusive rights to these antibodies for other forms of cancer therapy. The agreement also settles all of the outstanding claims between the parties.
 "This license is a validation of our results in early stage clinical trials establishing rhenium RIT as a viable approach to treating cancer. Rhenium-labeled antibodies have been shown by NeoRx to produce anti- tumor responses in humans," said Paul G. Abrams, M.D., J.D., NeoRx's president and CEO. "NeoRx is currently collaborating with several other corporate partners to develop rhenium-based cancer therapy products."
 Under the overall agreement, NeoRx will receive $2 million cash and net 2 million shares of NeoRx common stock having a current value of $10 million based on the closing price of NeoRx common stock on June 2, 1992. 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 trial for a third imaging product. Targeted biopharmaceuticals to treat cancer, restenosis after angioplasty and autoimmune diseases are in pre-clinical testing.
 -0- 6/3/92
 /CONTACT: Robert M. Littauer, vice president, chief financial officer and treasurer of NeoRx, 206-286-2519; or Anthony J. Russo or Susan A. Noonan of Noonan/Russo Communications, 212-979-9180, for NeoRx/
 (NERX EK) CO: NeoRx Corporation; Sterling Winthrop Inc.; Eastman Kodak Co. ST: Washington IN: MTC SU: LIC


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Date:Jun 3, 1992
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