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NeoPharm, Inc. Announces Third Cooperative Research and Development Agreement With the National Cancer Institute.

BANNOCKBURN, Ill.--(BUSINESS WIRE)--July 6, 1999--

NeoPharm, Inc. (AMEX: NEO) today announced it has entered into a Cooperative Research and Development Agreement ("CRADA") with the National Cancer Institute ("NCI") for SS(dsFv) PE38, a novel ligand targeted cytotoxin, which was licensed to the Company in March 1999. SS(dsFv) PE38 is a novel, anti-cancer compound that may potentially be useful in the treatment of head and neck cancers, mesotheliomas and ovarian cancers.

"We are pleased to enter into our third CRADA with the National Cancer Institute," stated James M. Hussey, R.Ph, MBA President and Chief Executive Officer of NeoPharm. "Collaborating with academic institutions and government agencies is an important element of NeoPharm's business strategy. Our expanding relationship with NCI is clearly a testament to the quality and sophistication of our cancer technology. We anticipate placing SS(dsFv) PE38 into Phase I clinical trials in early 2000."

Dr. Aquilur Rahman, Chief Scientific Officer, said, "This CRADA serves to expand our ligand targeted cytotoxin technology platform. We believe SS(dsFv) PE38 has the potential to become an important addition in the fight against select cancers."

NeoPharm, Inc., based in Bannockburn, Illinois, is a publicly traded biopharmaceutical company dedicated to the discovery and commercialization of new and innovative cancer drugs for therapeutic applications. The Company has a broad portfolio of cancer compounds in various stages of development.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's drug development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company's drug candidates, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug candidates that could slow or prevent product markets, the uncertainty of patent protection for the Company's intellectual property or trade secrets and other risks detailed from time to time in filings the Company makes with the Securities and Exchange Commission including its annual reports on Form 10-K and its quarterly reports on Forms 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 6, 1999
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