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2/25/00 - UNIGENE COMPLETES TESTING OF ORAL CALCITONIN SUPPLIES FOR PHASE I/II STUDY - RECEIVES MILESTONE PAYMENT FROM WARNE
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FAIRFIELD, N.J., Feb 25, 2000 /PRNewswire via COMTEX/ -- Unigene Laboratories, Inc. (OTC Bulletin Board: UGNE) today announced that it has completed testing of the clinical supplies of oral calcitonin that will be used by Warner-Lambert in its upcoming Phase I/II human study. Unigene received a $1 million payment from Warner Lambert for achieving this milestone.
"This benchmark represents the final milestone before the initiation of U.S. clinical studies," commented Dr. Warren Levy, President of Unigene. "We believe that the extensive clinical experience that we have accumulated during the course of six successful pilot human studies, the last two of which were performed with Warner-Lambert, coupled with our proprietary technology for the efficient production of large quantities of calcitonin, will provide us with very significant advantages in our efforts to rapidly commercialize the product on a worldwide basis."
Unigene Laboratories, Inc. is a biopharmaceutical company engaged in the research, production and delivery of valuable therapeutic peptide hormones. The Company has patented manufacturing technology for producing amidated peptides cost-effectively and in quantities sufficient to support the worldwide commercialization of peptide therapeutics for oral delivery. In 1996, the Company first demonstrated the delivery of therapeutic levels of calcitonin to the bloodstream of human subjects following oral administration, using its patented oral drug delivery technology.
Except for historical information, the statements made herein are forward looking statements involving risks and uncertainties. These risks and uncertainties, including those related to the timing or successful completion of the Company's product commercialization activities, are detailed in the Company's filings with the Securities and Exchange Commission.
SOURCE Unigene Laboratories, Inc.
(C) 2000 PR Newswire. All rights reserved.
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CONTACT: Warren P. Levy, Ph.D., President, Unigene Laboratories, Inc.,
973-882-0860; or Theresa McNeely, Director, Feinstein Kean Healthcare,
617-577-8110
WEB PAGE: unigene.com
GEOGRAPHY: New Jersey
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