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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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To: Icebrg who wrote (189)	2/28/2004 3:35:53 AM
From: Icebrg	Read Replies (1) of 946

Cephalon to work on R&D with Italian company John George May 7, 2002 [Some background info on the Cephalon - NovusPharma agreement on an oral proteasome inhibitor]. Cephalon Inc. of West Chester formed a research and development collaboration with Novuspharma of Bresso, Italy, to discover and develop new drugs for the treatment of cancer. Under the terms of the initial three-year agreement, Novuspharma will use its expertise in pre-clinical research to optimize the performance of Cephalon's proteasome inhibitors that have exhibited anti-cancer activity. (The proteasome regulates the activity of proteins involved in cell progression, cell survival and tumor growth.) The discovery of any new compounds will be jointly owned by the two companies. Cephalon will have the marketing rights in the Americas and Japan for any new drug the collaboration in the Americas and Japan: Novuspharma will have the rights in Europe. Financial terms of the deal were not disclosed. Cephalon also released its first-quarter results that showed the biotechnology company earned $14.3 million, excluding special items and charges. The company took first-quarter charges of $13.6 million tied to the termination of a sales and marketing joint venture with two of the company's institutional investors. Those charges resulted in an overall loss of $2.9 million. In the first quarter of 2001 Cephalon lost $11.8 million. Product sales, led by the company's narcolepsy drug Provigil, soared to $96 million in the first quarter, as compared to sales of $41 million during the first quarter of last year. bizjournals.com

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