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Biotech / Medical : Aronex Pharma (ARNX)

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To: Sam Lee who wrote (201)	1/11/1999 9:49:00 AM
From: Dexter Enders	Read Replies (1) of 320

Looks like Aronex is meeting it goals. Aronex Pharmaceuticals Receives Milestone Payments for Antifungal Agent NYOTRAN(R) THE WOODLANDS, Texas, Jan. 11 /PRNewswire/ -- Aronex Pharmaceuticals, Inc. (Nasdaq: ARNX - news) announced today that it has received two milestone payments totaling $5.6 million from Abbott Laboratories (NYSE: ABT - news). The payments are a result of the completion of patient enrollment and treatment required under the protocol for the Phase III comparative multi-center trials of NYOTRAN® against amphotericin B in patients with presumed fungal infections in the United States and in Europe. These milestone payments were achieved as part of the November 1998 license agreement with Abbott for the worldwide marketing rights to NYOTRAN. Including the $2.8 million in milestones received in November 1998, Aronex Pharmaceuticals has currently received $8.4 million in milestone payments under this license agreement, and $3.0 million related to a stock purchase agreement. NYOTRAN is Aronex Pharmaceuticals' proprietary injectable formulation of nystatin for the treatment of systemic fungal infections

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