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Biotech / Medical : Peptech Limited (ASX: PTD)

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To: Angelo Ferraro who wrote ()	12/28/1998 1:55:00 PM
From: Angelo Ferraro	of 5

Peptech gets a boost from Pfizer funding agreement By Robert Guy Pfizer Inc, producer of Viagra, has signed a deal to fund a 12-month clinical trial for Australian biotechnology company Peptech. The announcement came as Forbes magazine selected Pfizer as "Company of the Year" because it focused on research and development of drugs that may lift revenue by as much as $US10 billion ($158 billion) during the next five years. The deal with Peptech will see the US pharmaceutical giant fully fund an initial 12-month program of clinical research as well as the development of methods for the large-scale manufacture of Peptech's third generation long-acting implant for reversible castration of companion animals. This is the third major achievement for Peptech in 1998, coming on the back of June's US Food and Drug Administration approval of Ovuplant, a horse fertility drug, and allowance of a key US patent for the implant in early December. The chief executive of Peptech, Dr Michael Cohen, said the agreement "was great news for Peptech shareholders and vindicated the decision to focus on Peptech's core capability in mammalian reproduction control". Pfizer is the fourth-largest US drug maker. Its sexual impotence pill, Viagra, is expected to reap $US1.4 billion in revenue in 1999. The New York-based company is developing drugs to treat heart disease, schizophrenia, migraine and certain cancers and has about 50 drugs in different stages of human trials -- possibly more than any other drug maker, Forbes said in its report afr.com.au

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