Started By: K.J.Devine
Date: Mar 9 1997 2:58PM EST
Amgen-Regeneron. Takeover possible by second quarter 1997. Amgen will take over "REGN", team up to to test DNF based products.
Amgen-Regeneron Partners as a treatment for ALS, delivered Intrathecally (directly into the spinal fluid), a route of delivery that may yield better results than subcutaneous delivery. Amgen is also testing BDNF in early stage, small European trials on Guillain
Barre syndrome and diabetic neuropathy. Both these conditions involve peripheral neurons, which may allow for successful treatment via subcutaneous delivery. Amgen is conducting an early-stage NT-3 trial in diabetic neuropathy on behalf of Amgen-Regeneron Partners and plans to start a trial in chemotherapy-induced neuropathy during the first half of 1997. The company anticipates announcing preliminary
results of the NT-3 diabetic neuropathy study later in 1997.
Amgen said that ongoing preclinical studies with glial derived neurotrophic factor(GDNF)in Parkinson's disease are continuing to yield encouraging results that support the rationale for ongoing clinical development of the drug in this disease and Phase 1
safety data is expected by year end. Amgen previewed early preclinical research in protection against hearing loss, a significant disability for 25 million people in the United States.
Procter & Gamble invested $10 million in the company and will support $3.75 million of annual research at Regeneron for up to five years.
In addition, annual payments are expected from Procter & Gamble for research support and from Merck & Co. Inc. for contract manufacturing of an intermediate for an approved Merck pediatric vaccine. "
Regeneron's total revenue in the fourth quarter of 1996 increased to $6.5 million from $5.7. million in the same period of 1995. The increase was due to higher investment income and an increase in contract manufacturing revenue from a long-term manufacturing agreement with Merck & Co. Inc.
K.J.Devine |
