Novartis Message Board - Msg: 13033023

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Biotech / Medical : Novartis

NVS 123.79

+1.0%

Oct 31 9:30 AM EDT

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To: Mark H. Bornfeld who wrote ()	3/3/2000 8:19:00 AM
From: Jack Hartmann	Read Replies (1) of 296

Novartis, Emisphere Tech Extend Pact To Second Compound March 2, 2000 Dow Jones Newswires NEW YORK -- Switzerland's Novartis AG's (Z.NOV) Novartis Pharma AG unit agreed to expand its partnership with Emisphere Technologies Inc. (EMIS) for the oral delivery of a second Novartis compound. Financial terms weren't disclosed, but Emisphere, a Hawthorne, N.Y., biopharmaceutical company, will receive a cash payment from Novartis under the extension. Chemical group Novartis said in a press release Thursday that the companies will collaborate to select a second drug compound from several potential drug candidates. After selecting the compound, Novartis will have nine months to exercise a previously secured option for an exclusive worldwide license to develop and commercialize the compound. The extended arrangement entitles Emisphere to development and regulatory milestone payments, and potential royalties on product sales and equity investments at the company's option. In mid-February, Novartis agreed to license drug delivery technology from Emisphere under a joint venture to develop an osteoporosis treatment. Novartis said recent data suggest Emisphere's oral macromolecule delivery system may serve as a platform for a number of oral protein products. -Leah McGrath; Dow Jones Newswires; 201-938-5400

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