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Biotech / Medical : Elan Corporation, plc (ELN)

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To: William Partmann who wrote (755)	12/9/1999 8:49:00 AM
From: William Partmann	Read Replies (1) of 10345

Ribozyme Pharmaceuticals to team up with Elan unit BOULDER, Colo., Dec 9 (Reuters) - Ribozyme Pharmaceuticals Inc. (NasdaqNM:RZYM - news) said on Thursday it had agreed to form a joint venture with an affiliate of Elan Corp. Plc (quote from Yahoo! UK & Ireland: ELA.L) (NYSE:ELN - news) to bring to market an anti-cancer agent and a system to inject it into the body. Under the agreement, the two companies will develop Ribozyme's ribozyme Herzyme against Human Epidermal Growth Factor Receptor Type 2 for treatment of breast and other cancers. Also, as part of the agreement, the joint venture will license the Medipad drug delivery system, a disposable subcutaneous drug delivery system from Elan, for development with Herzyme. Ribozyme said it may fund its share of development costs of the joint venture through the sale of preferred stock to Elan. Elan also said it would buy some Ribozyme common shares.

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