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STERLING WINTHROP INC. AND ADVANCED MAGNETICS, INC. ANNOUNCE MRI CONTRAST AGENT LICENSE AND MARKETING AGREEMENT

 NEW YORK and CAMBRIDGE, Mass., Sept. 28 /PRNewswire/ -- Sterling Winthrop Inc. announced today that it has extended its diagnostic imaging franchise to include the visualization of liver cancer.
 The company has entered into an agreement with Advanced Magnetics, Inc. (AMEX: AVM), for a product license and exclusive marketing rights in the United States, Canada, Mexico and Australia of Advanced Magnetics' Feridex(R) magnetic resonance imaging (MRI) contrast agent. Feridex is intended for use in conjunction with MRI to facilitate visualization, detection, localization and evaluation of primary and metastatic cancer of the liver.
 Feridex will be marketed by Sanofi Winthrop, the pharmaceuticals marketing alliance between Sterling Winthrop and French-based Elf Sanofi.
 Within the next six months, Advanced Magnetics expects to file for a new drug application (NDA) for Feridex with the U.S. Food and Drug Administration.
 Under the agreement, Sterling Winthrop will pay license fees based on certain milestone achievements and pay royalties on sales. In addition, Advanced Magnetics will manufacture Feridex and supply it to Sterling Winthrop. Sterling Winthrop has responsibility for filing for marketing approval for Feridex within its licensed territory outside the United States.
 Jerome Goldstein, president and CEO of Advanced Magnetics, said that "The establishment of this marketing relationship with Sterling Winthrop is the culmination of our global strategy for Feridex. Sterling Winthrop is a leader in the U.S. contrast agent market.
 "The Advanced Magnetics' proprietary technology has demonstrated its value in two ways: the results of human clinical trials and the corporate alliances with major U.S. contrast agent marketers. This vote of confidence from our peers confirms our achievements here at Advanced Magnetics."
 According to Jacques Rejeange, president, Sterling Winthrop Pharmaceuticals Group, "This agreement further bolsters our position of leadership in one of our core areas, the diagnostic imaging market. The first liver-specific imaging agent expected to reach the market, Feridex should significantly improve physicians' ability to recognize lesions of the liver and more effectively respond to their patients' needs."
 Advanced Magnetics, Inc. is a medical diagnostic company involved in the development and manufacturing of magnetic resonance imaging contrast agents for diagnosis of cancer and other diseases; drug delivery and cell separation systems; and in vitro clinical laboratory and biomedical research products.
 Sterling Winthrop Inc., headquartered in New York City, is a worldwide developer, manufacturer and marketer of pharmaceuticals and consumer health products.
 -0- 9/28/93
 /CONTACT: Carol Perlman or Diane Iselin of Sterling Winthrop Inc., 212-907-2724 or 212-907-2341, or Jerome Goldstein of Advanced Magnetics, Inc., 617-497-2070/
 (AVM)


CO: Sterling Winthrop Inc.; Advanced Magnetics, Inc. ST: New York, Massachusetts IN: MTC SU: LIC

CK-MP -- NY002 -- 6236 09/28/93 08:59 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
Words:440
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