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Biotech / Medical : Isotechnika inc. (T.ISA)
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To: teevee who started this subject4/9/2002 9:49:48 AM
From: Montana Wildhack  Read Replies (1) of 23
 
Congrats to everyone holding.

Isotechnika And Roche Sign Largest Drug Development Agreement In Canadian History

Trades on Toronto Stock Exchange Symbol - (ISA - (TSE:ISA) )

EDMONTON, April 9 /CNW/ - Dr. Robert Foster, Chairman and CEO and
Dr. Randall Yatscoff, President and COO of Isotechnika Inc. and William M.
Burns, Head of Roche's Pharmaceutical Division, announced today that they have
signed an agreement for the global co-development of Isotechnika's innovative
transplant drug, ISA(TX)247. This agreement represents the largest Canadian
drug development deal between a large pharma and a biotech company for the
commercialization of a single drug molecule.
ISA(TX)247 is a novel calcineurin inhibitor in early Phase II clinical
development as immunosuppressive therapy in organ transplantation and in the
treatment of auto-immune diseases. Early studies indicate that ISA(TX)247 is
considerably more potent and far less toxic compared to other
immunosuppressants in this class, such as cyclosporin A. This compelling
combination of reduced toxicity and improved potency would give a major
therapeutic benefit over existing calcineurin based treatments.

Under the terms of the agreement:
- Roche will make up-front and milestone payments to Isotechnika.
Assuming all development milestones are achieved, the amount of this
deal will be 215 million US dollars;
- Roche will pay Isotechnika a percentage of gross profits;
- In addition, Roche will contribute 70% of the development cost of this
drug.
- Roche has exclusive world-wide marketing rights to ISA(TX)247.
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