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Biotech / Medical : Guilford (GLFD) - Steadily Rising -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (330)	8/4/1999 4:50:00 PM
From: sim1	Read Replies (1) \| Respond to of 496

Guilford and Amgen Announce Start of Neuroimmunophilin Clinical Trials Business Wire - August 04, 1999 08:46 THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Aug. 4, 1999--Guilford Pharmaceuticals Inc. (Nasdaq:GLFD) and Amgen (Nasdaq:AMGN) Wednesday announced that the companies have initiated the first clinical testing of a class of compounds known as neuroimmunophilins. The initial study is a phase 1 safety, tolerability and pharmacokinetic study in healthy subjects and is being conducted in Europe. The initial disease target is Parkinson's disease. "We have reached an important milestone in the development of the neuroimmunophilins. We will undoubtedly learn a great deal about neuroimmunophilins over the next few months, and, assuming a successful outcome of the phase 1 clinical program, we look forward to the first clinical trials in patients with Parkinson's disease," said Dr. Craig R. Smith, president and chief executive officer of Guilford. In 1997, Amgen licensed from Guilford worldwide rights for the neuroimmunophilins, a novel class of small molecule neurotrophic agents that may represent a new approach in the treatment of neurodegenerative disorders. In preclinical studies, including models of Parkinson's disease, neuroimmunophilins demonstrated potential to promote nerve regeneration and repair. "We are pleased to be able to advance Amgen's second small molecule product candidate into clinical testing," said Gordon Binder, Amgen's chairman and chief executive officer. "This represents our growing commitment to the field of small molecule drug development. More importantly, it is a further effort to advance the needed treatment of patients suffering from Parkinson's disease." Amgen is a global biotechnology company that discovers, develops, manufactures and markets cost-effective human therapeutics based on advances in cellular and molecular biology. Guilford Pharmaceuticals is a biopharmaceutical company engaged in the development of polymer-based therapeutics for cancer, and novel products for the diagnosis and treatment of neurological diseases, including Parkinson's disease, Alzheimer's disease, stroke, severe head trauma, spinal cord injuries, multiple sclerosis and peripheral neuropathies. EDITOR'S NOTE: An electronic version of this news release may be accessed via Amgen's Web site at www.Amgen.com. Visit the Corporate Center and click on Amgen News. Journalists and media representatives may sign up to receive all news releases electronically at time of announcement by filling out a short form in the Amgen News section of the Web site. CONTACT: Amgen, Thousand Oaks David Kaye, 805/447-6692 (media) Cary Rosansky, 805/447-4634 (investors) or Guilford Pharmaceuticals Inc., Baltimore Stacey Jurchison, 410/631-5022