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

To: Paul S. who wrote (557)	5/7/1998 3:25:00 PM
From: doug	Respond to of 1185

Agreement to develop drugs for atrial arrhythmias with F. Hoffman-La Roche Nortran Pharmaceuticals Inc NRT Shares issued 22,392,599 May 6 close $3.02 Thu 7 May 98 News Release Mr. Michael Walker reports Nortran Pharmaceuticals has reached an agreement with F. Hoffmann-La Roche (Roche) of Basel, Switzerland, to test and develop a group of Nortran's antiarrhythmic compounds for the prevention and treatment of atrial arrhythmias. Roche and Nortran will begin conducting a series of studies to further evaluate the safety and efficacy of Nortran's proprietary compounds in preclinical models of atrial arrhythmias. Under the terms of this agreement, Roche has paid Nortran a fee for the exclusive option to a worldwide (except for the ASEAN nations) licence to these compounds. If Roche exercises its option, Nortran will receive a licence fee as well as milestone payments upon reaching certain stages of development and certain sales levels of a new drug. The maximum amount of such payments will be $86.5-million (U.S.). In addition, Roche will pay Nortran a royalty on sales of any product coming from the program. Atrial arrhythmias such as atrial fibrillation are rapid, irregular contractions due to uncoordinated electrical activity in the upper part of the heart. Atrial fibrillation currently affects more than 2.5 million people in the United States with 160,000 new cases being identified each year. Primarily a condition seen in elderly patients, atrial fibrillation is likely to increase significantly as the population ages. Atrial fibrillation is also associated with an increased risk of stroke, embolism, heart failure, and early death. F. Hoffman-La Roche Ltd., headquartered in Basel, Switzerland, is one of the oldest Swiss pharmaceutical companies, and is active in over 100 countries. Employing over 70,000 people and with sales of approximately 18 billion Swiss francs (over $12-billion (U.S.)), Roche is a world leader in research-based healthcare with its principal businesses in pharmaceuticals, diagnostics, vitamins, and fragrances and flavours. Roche discovers, develops and markets prescription drugs in key therapeutic areas such as diseases of the nervous system, virology, infectious diseases, oncology, cardiovascular diseases, inflammatory and autoimmune diseases, dermatology, metabolic disorders and bone disease. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com