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NEOSE ANNOUNCES RESEARCH AND DEVELOPMENT COLLABORATION WITH ABBOTT LABORATORIES

 PHILADELPHIA, Feb. 11 /PRNewswire/ -- Neose Pharmaceuticals Inc. today announced that it has entered into a research and development collaboration with Abbott Laboratories to develop a complex carbohydrate compound. The agreement will partially fund Neose's manufacturing, pre-clinical and clinical development, and Abbott will receive worldwide marketing rights. Neose will retain manufacturing rights and receive a royalty based on commercialization. The parties will share equally in sublicensing fees for compounds developed jointly. On signing of the agreement, Abbott made a $2 million equity investment, purchasing approximately 2.3 percent of the company's stock. Funding will total $15 million through 1996, if milestones are achieved.
 "The resources of this collaboration will expedite the research and development of our lead compounds and accelerate the commercial development of Neose's complex carbohydrate manufacturing technology, both of which will help us attain our goal of becoming a fully integrated pharmaceutical company," said Dennis H. Langer, M.D., J.D., president and chief executive officer of Neose.
 "We are delighted that Abbott shares our vision of the scientific and commercial potential of complex carbohydrates, and recognizes our capabilities in carbohydrate synthesis," said Stephen Roth, Ph.D., senior vice president and chief scientific officer of Neose.
 Founded, in 1990, Neose is a leader in the discovery, synthesis and manufacture of complex carbohydrates for human healthcare applications. Neose's novel, proprietary technology allows it to synthesize naturally occurring complex carbohydrates enzymatically. Neose's lead compounds are targeted toward the treatment and prevention of a wide variety of infectious diseases, including peptic ulcers and other gastrointestinal infections, respiratory infections, ear infections, urinary tract infections, and sexually transmitted diseases. Also under development are compounds to inhibit the inflammatory response to injury that could have applications for reperfusion injury, autoimmune disorders, asthma and arthritis.
 -0- 2/11/93
 /CONTACT: Dennis H. Langer, M.D., J.D., or Stephen Roth, Ph.D.


of Neose Pharmaceuticals Inc., 215-441-5890; or Mark J. Brand of Pondel Parsons & Wilkinson, 310-207-9300, for Neose Pharmaceuticals/

CO: Neose Pharmaceuticals Inc.; Abbott Laboratories ST: Philadelphia IN: MTC SU: JVN

EH-KJ -- LA024 -- 5755 02/11/93 13:36 EST
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Publication:PR Newswire
Date:Feb 11, 1993
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