Essential Therapeutics (ETRX) formerly Microcide (MCDE Message Board

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Biotech / Medical : Essential Therapeutics (ETRX) formerly Microcide (MCDE

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To: John O'Neill who started this subject	10/1/2001 12:06:53 PM
From: nigel bates	of 415

Microcide Pharmaceuticals Receives Milestone Payment for Progress Toward Goal Of Developing Orally-Active Cephalosporin MOUNTAIN VIEW, Calif., Oct. 1 /PRNewswire/ -- Microcide Pharmaceuticals, Inc. (Nasdaq: MCDE - news) today announced that it has received a milestone payment for achievement of certain development goals in its research and license agreement with The R.W. Johnson Pharmaceutical Research Institute (PRI) and Ortho-McNeil Pharmaceutical, Inc. (OMP), both Johnson & Johnson subsidiaries. The milestone payment relates to preclinical research by Microcide to develop an orally-active, novel cephalosporin, with activity against resistant bacterial strains common to both hospital and community settings. Under terms of the agreement announced in January 2001, Microcide received an up-front license fee and substantial funding for a year of research to optimize newly-discovered leads. For each orally-active product resulting from the new research, Microcide will receive an additional set of multiple milestone payments and royalties on worldwide sales...

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