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Biotech / Medical : Biotech failure, 2002 -- Ignore unavailable to you. Want to Upgrade?

To: RCMac who wrote (110)	9/24/2002 7:17:45 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 130

Press Release Source: Cortech, Inc. Announcement of the Suspension of Clinical Study in Japan Using ONO-6818 for Chronic Obstructive Pulmonary Disease Tuesday September 24, 3:59 pm ET BEDMINSTER, N.J.--(BUSINESS WIRE)--Sept. 24, 2002--CORTECH, INC. (CRTQ - NASDAQ) announced that Ono Pharmaceutical Co., Ltd., the licensee of ONO-6818 developed for oral use in COPD, has voluntarily suspended Japanese clinical study of this compound and deferred the commencement of U .S. studies because of adverse events in certain patients in the study. Ono is continuing to collect clinical data and analyze them, and has not determined at this time its plans regarding the future development of ONO-6818. Cortech has 3,616,380 shares outstanding. This release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause Cortech's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Cortech cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date.