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Biotech / Medical : Nortran Pharmaceutical -NRT.V -- Ignore unavailable to you. Want to Upgrade?

To: the truth who wrote (1181)	10/16/2000 5:22:39 PM
From: the truth	Read Replies (1) \| Respond to of 1185

Nortran signs agreement with AstraZeneca Nortran Pharmaceuticals Inc NRT Shares issued 41,110,868 Oct 13 close $1.70 Mon 16 Oct 2000 News Release Mr. Robert Rieder reports Nortran Pharmaceuticals has executed a licensing agreement with AstraZeneca PLC, a U.K.-based multinational pharmaceutical company. Under the terms of the agreement, Nortran will grant AstraZeneca an exclusive worldwide licence to develop and market a novel antiarrhythmic drug candidate in exchange for up-front, milestone and royalty payments. AstraZeneca will pay for all development and marketing costs. The agreement covers a single Nortran antiarrhythmic drug candidate, allowing Nortran the ability to continue development and commercialization of other antiarrhythmic drugs. Under the terms of the agreement, AstraZeneca will pay Nortran an up-front payment upon execution of the agreement. In addition, AstraZeneca will pay further milestone payments linked to the achievement of specific development and commercialization targets. The agreement also includes a provision for the payment of royalties at a rate that will increase according to the level of product sales achieved. AstraZeneca will assume responsibility for the worldwide development and commercialization of this promising antiarrhythmic agent. The drug candidate licensed is a small molecule that has shown excellent activity against arrhythmia in preclinical studies. It has potential to treat atrial arrhythmia in humans. "This partnership is by far the most significant since Nortran's inception in 1992, and represents a significant milestone for our company," stated Bob Rieder, president and chief executive officer of Nortran. "We believe that the licensed drug has exciting potential for the treatment of atrial arrhythmia. AstraZeneca has a proven track record of successful developments in the cardiovascular area and Nortran looks forward to working with AstraZeneca to ensure success of this project." AstraZeneca is a major international health care business engaged in the research, development, manufacture and marketing of ethical (prescription) pharmaceuticals and the supply of health care services. It is one of the top five pharmaceutical companies in the world with health care sales of over $15-billion and leading positions in sales of gastrointestinal, oncology, anesthesia, including pain management, cardiovascular, central nervous system (CNS) and respiratory products. Dr. Hamish Cameron, vice-president and head of cardiovascular therapy area of AstraZeneca, said: "We are pleased to sign this agreement with Nortran. The drug that we have in-licensed has an important role in our antiarrhythmic program and has exciting potential for the treatment of atrial fibrillation/flutter. This will in turn further strengthen our cardiovascular portfolio." WARNING: The company relies upon litigation protection for "forward-looking" statements.