Nastech [NSTK] -Sm & Lrg Molecule Intranasal drug delivery Message Board

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Biotech / Medical : Nastech [NSTK] -Sm & Lrg Molecule Intranasal drug delivery

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From: nigel bates	6/8/2006 8:30:36 AM
	of 80

Nastech Receives $7 Million Milestone Payment from Procter & Gamble for Advancement of Parathyroid Hormone (PTH1-34) Nasal Spray Program Thursday June 8, 7:00 am ET BOTHELL, Wash., June 8 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK - News) announced today the receipt of a $7 million payment for attaining a development milestone under the Company's collaboration with Procter & Gamble Pharmaceuticals, Inc., a division of The Procter & Gamble Company (NYSE: PG - News), for development and commercialization of Parathyroid Hormone (PTH1-34) nasal spray for treatment of osteoporosis. The milestone will be recognized as revenue in the quarter ending June 30, 2006. "We are pleased with the progress that P&G is making on the PTH1-34 nasal spray program," stated Steven C. Quay, M.D., Ph.D., Chairman, President and CEO of Nastech. "This milestone represents further validation of Nastech's capabilities in developing well-tolerated, non-invasive delivery alternatives for products that currently require injections." About PTH1-34 PTH1-34 is a fragment of the naturally occurring human parathyroid hormone that is an important regulator of calcium and phosphorus metabolism. When given by daily injection, PTH1-34 has been shown to increase bone mineral density and significantly reduce both vertebral and non-vertebral fractures in postmenopausal women. Daily injections of PTH1-34 are approved for the treatment of postmenopausal osteoporosis and had $127 million in sales during the first quarter of 2006. In February 2006, Nastech and P&G entered into a development and commercialization collaboration for PTH1-34 as an investigational nasal spray...

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