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ZYNAXIS AND ELI LILLY ENTER INTO A COLLABORATIVE PROGRAM TO DEVELOP DRUG DELIVERY PRODUCTS FOR CARDIOVASCULAR DISEASE

 ZYNAXIS AND ELI LILLY ENTER INTO A COLLABORATIVE PROGRAM TO DEVELOP
 DRUG DELIVERY PRODUCTS FOR CARDIOVASCULAR DISEASE
 MALVERN, Pa., April 22 /PRNewswire/ -- Zynaxis, Inc. today announced that it has established a collaborative development program with Eli Lilly and Company to apply the Zynaxis drug delivery technology to vascular drugs that have the potential to reduce the rate of restenosis after angioplasty. As part of the agreement, Lilly will also make a $3 million equity investment in Zynaxis.
 The development program will be based upon the Zynaxis Zyn-Linker(TM) technology which permits retention and slow release of therapeutic drugs at the angioplasty site. The collaboration will focus on drugs that have antithrombotic, antiplatelet and antiproliferative activity for (1) reducing cellular hyperplasia in the blood vessels of patients with vascular disease and (2) reducing thrombotic complications, when applied to or by a delivery device.
 "This is our first major collaborative agreement, and we are especially pleased to have the opportunity to be in a partnership with one of the world's lading pharmaceutical companies," said Thomas Cekoric, Jr., president and CEO of Zynaxis, Inc.
 "Because the Zynaxis drug delivery technology is unique, we believe that this agreement validates our approach to drug delivery which has proven itself in the research setting, and we believe that it will continue to do so in the clinical setting. Our system is designed to be able to deliver significantly higher concentrations of therapeutic drugs to the site of the angioplasty and keep them there for the time necessary to achieve therapeutic results. This should offer advantages over traditional forms of drug delivery that require high systemic doses to be given over longer periods of time which may cause adverse side effects." Under the agreement, Zynaxis will receive royalties on sales for all products resulting from the collaboration and will have certain rights to receive a milestone payment and to manufacture for Lilly. Lilly will have an exclusive worldwide license to manufacture, use and sell any products developed from this collaboration in the field of vascular disease.
 Zynaxis, Inc. is a biotechnology company located in Malvern, Pa., engaging in the development of new therapeutic delivery systems. Zynaxis has focused its therapeutic research and development efforts primarily in the development of a variety of cell linker molecules for the delivery and retention of therapeutic drugs and radiopharmaceuticals to disease sites.
 -0- 4/22/92
 /CONTACT: Thomas Cekoric, Jr. of Zynaxis, 215-889-2200, or Susan Sherman of Cameron Associates, 212-644-9560, for Zynaxis/ CO: Zynaxis Inc.; Eli Lilly and Company ST: Pennsylvania IN: MTC SU:


SM-TQ -- NY091 -- 1439 04/22/92 16:16 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
Words:432
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