SNAP Message Board - Msg: 5803652

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Biotech / Medical : SNAP

SNAP 7.830

+0.4%

Nov 3 3:59 PM EST

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To: scaram(o)uche who wrote ()	9/21/1998 3:15:00 PM
From: NewsTrader	Read Replies (2) of 124

(NewsTraders) -- Synaptic Pharmaceutical Corp. (SNAP) disclosed in a Form 8-K filing that Eli Lilly & Co. (LLY) has decided to terminate a drug discovery program with Synaptic focused on the identification and development of serotonin 2B antagonists for the prophylactic treatment of migraine. As reported, Lilly had previously determined, based upon competing priorities, to discontinue development of the compound, which was undergoing late preclinical testing, and to seek a licensee or development partner for the compound. As a result of the most-recent decision, Lilly will no longer seek a licensee or development partner for the compound. Synaptic had announced on September 3 that the migraine compound which the program centered on would advance into Phase III clinical trials.

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