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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: RBMac who wrote (1127)6/11/1999 5:06:00 PM
From: RBMac  Read Replies (1) of 1185
 
Nortran Pharmaceuticals Inc - News
Release

Nortran research collaboration ends

Nortran Pharmaceuticals Inc NRT
Shares issued 27,673,299 Jun 10 close $1.42
Fri 11 Jun 99 News Release
Mr. Bob Rieder reports
Nortran Pharmaceuticals Inc.'s collaboration with F. Hoffmann-La Roche has
ended.
Nortran will now resume partnership talks with other interested
pharmaceutical companies. The option had granted Roche the right to test
four of Nortran's more than 200 compounds for treatment of cardiac
arrhythmia.
Bob Rieder, Nortran's president and chief executive officer, commented: "Of
course, we are disappointed that our partnership with Roche will not
progress further. Fortunately, this anti-arrhythmia project is at an
advanced stage and other major pharmaceutical companies have expressed
interest in opening partnering discussions."
Nortran announced in November, 1998, a collaborative agreement with
AstraZeneca in the anti-arrhythmia area, and work under that project is
progressing.
"Nortran has over $4-million in cash resources, which is more than adequate
to move our anti-arrhythmia project forward," said Mr. Rieder. "Clearly,
there is a very large market potential for this type of drug and Nortran
has unique compounds in terms of their actions against arrhythmias."
Arrhythmias are a major cause of sudden cardiac death in millions of heart
attack victims each year.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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