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TEXAS BIOTECHNOLOGY AND PHARMACEUTICAL DISCOVERY CORPORATION FORM STRATEGIC AGREEMENT

 HOUSTON and ELMSFORD, N.Y., Aug. 11 /PRNewswire/ -- Texas Biotechnology Corporation (TBC) and Pharmaceutical Discovery Corporation (PDC) today announced that the companies have formed a strategic research collaboration to develop delivery formulations of certain TBC compounds. The agreement enables PDC to apply its proprietary Technosphere(TM) system of microencapsulation to the oral and injectable administration of therapeutic compounds developed by TBC.
 "This agreement provides additional validation of PDC's unique Technosphere system in the areas of biotechnology and cardiovascular medicine," said Solomon S. Steiner, Ph.D., chairman and chief executive officer of PDC.
 "This collaboration fits neatly into our strategy to accelerate our progress toward commercialization," said David B. Williams, president and chief executive officer of TBC. "To explore advanced alternatives of delivering our compounds will only increase the pace of moving our projects through the clinic."
 TBC is developing compounds for the treatment of cardiovascular disease. Since its founding in 1989, the company has focused on two primary areas: 1) anti-restenosis therapies, those which prevent the post-operative closure of coronary arteries; 2) drugs for the prevention of vascular inflammation and plague build-up.
 Earlier this year, TBC announced a licensing agreement with Genetech for Agratroban, an antithrombolitic compound which is currently marketed in Japan through Mitsubishi Kasei. TBC expects to begin Phase II clinical studies in North America later this year.
 PDC, which recently added Harvey S. Sadow, Ph.D., retired chairman and chief executive officer of Boehringer-Ingelheim Pharmaceuticals Inc. (USA) to its board of directors, will utilize it Technosphere delivery system to develop oral and injectable formulations of Agratroban and other TBC compounds.
 Pharmaceutical Discovery Corp. (PDC) is a privately held company founded in January 1991 by Dr. Steiner and George S. Goldstein, Ph.D., retired corporate vice president, medical and regulatory affairs of Sterling Drug and chairman of the Pharmaceutical Manufacturer's Association's Medical Section and Orphan Drug Commission. The company is based largely on two largely "enabling" technologies. The first, Technosphere, is a well-defined and characterized drug delivery system which has successfully delivered calcitonin, heparin and insulin orally and has proven effective in stabilizing enzymes, among other applications.
 The second, Photoflours(TM), currently is being sold to a number of pharmaceutical companies and academic and government laboratories. It was developed by R. Tyler McCabe, Ph.D., corporate vice president of research at PDC. These novel research tools quantitatively characterize drug receptor kinetics in real-time, providing an alternative to the use of radioactive materials. It has been validated as a "futuristic" tool in a number of collaborations with major pharmaceutical companies.
 Texas Biotechnology is a privately held company based in Houston, Texas. The company's research is focused on the endothelium, the layer of cells lining blood vessels. The company is developing proprietary molecules to treat various cardiovascular diseases including arterial restenosis and artherosclerosis.
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 /CONTACT: David B. McWilliams, president and CEO of Texas Biotechnology Corporation, 713-796-8822, or Solomon S. Steiner, Ph.D., chairman and CEO of Pharmaceutical Discovery Corporation, 914-345-8600, or Anthony J. Russo, Ph.D. of Noonan/Russo Communications, 212-696-4455/


CO: Texas Biotechnology Corporation; Pharmaceutical Discovery
 Corporation ST: Texas, New York IN: MCT SU: JVN


TM -- NY007 -- 1495 08/11/93 08:04 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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