Press release from MCHN: FYI 6/9/98 from Bloomberg -
Within Next Few Months;
Optimistic It Will Have Licensing Revenue from Erectile Dysfunction
Gel by Year End
LEXINGTON, Mass., June 9 /PRNewswire/ -- MacroChem Corporation (Nasdaq: MCHM) today issued the following statement in response to inquires it received after an
appearance by its President and Chief Executive Officer, Alvin J. Karloff, on CNBC's Squawk Box on Friday, June 5, 1998: "MacroChem expects to begin negotiations
within the next few months with as many as eight multi-national companies on a license for Topiglan. We are optimistic that, as a result of those negotiations, the
company will receive significant revenues before the end of this year, from licensing fees and up- front payments. In addition, we expect to receive milestone payments, as
well as royalties for the life of the agreement. "A major consideration for selecting a licensing partner will be their willingness to commit the resources to satisfy the FDA's
requirements for approval in the shortest possible time. "As I stated during the interview, a study by Boston University School of Medicine researcher and professor Dr.
Irwin Goldstein, reported that 80-90 percent of 114 men tested responded successfully -- with no side effects of any significance - to the treatment of MacroChem's
Topiglan. Topiglan is a topically applied gel for the treatment of erectile dysfunction. "I am extremely gratified that Dr. Goldstein recently referred to our product in a
newspaper story as "a lovely breakthrough." We were pleased to see him say in the article "the clear gel will give the impotence drug Viagra fierce competition once it is
on the market...."
The article quoting Dr. Goldstein was in the June 3, 1998 edition of The Patriot Ledger.
MacroChem develops, licenses and markets products and technology for the transdermal delivery of agents for pharmaceutical and cosmetic applications. The company's
technology involves the use of SEPA, a patented absorption enhancer for transdermal delivery. This technology can effectively increase the passage of therapeutic agents
through the skin, offering significant advantages over other methods of delivery.
To the extent that this press release discusses matters relating to the development of future products, these are forward-looking statements and are subject to various risk
factors that could cause actual results to differ materially from those expressed in any forward-looking statements. The relevant risk factors are set forth in MacroChem's
annual report on Form 10-K as filed with the Security and Exchange Commission and include, without limitation, risks regarding product development, clinical trials,
dependence on third parties for development and licensing arrangements, and risks involving regulatory approval of products. SOURCE MacroChem Corporation |
