EpiCept Establishes Direct Licensing Agreement with Dalhousie University for
EpiCept(TM) NP-1
TARRYTOWN, N.Y., July 19 EpiCept Corporation (Nasdaq and OMX Nordic
Exchange: EPCT) today announced that it has converted a sublicense agreement
previously established with Epitome Pharmaceuticals Limited, related to
EpiCept's product candidate EpiCept(TM) NP-1, into a direct license with
Dalhousie University a comprehensive, research-intensive university located in
Halifax, Nova Scotia, Canada. EpiCept NP-1 is a topical prescription analgesic
cream for the long-term relief from the pain of peripheral neuropathies, which
is currently undergoing clinical trials.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020513/NYM112LOGO )
In August 1999, EpiCept entered into a sublicense agreement with Epitome
Pharmaceuticals which granted EpiCept an exclusive license to certain patents
licensed to Epitome by Dalhousie University. These, and other patents, cover
the combination treatment consisting of amitriptyline and ketamine in EpiCept
NP-1. Under this new arrangement, EpiCept gains more favorable terms, including
a lower maintenance fee obligation and reduced royalty rate on future product
sales.
"We are very pleased to have reached an agreement with Dalhousie," said
Jack Talley, President and CEO of EpiCept. "The terms of this agreement will
provide EpiCept with distinct advantages to the previous agreement throughout
the entire development and evolution of this important pain product candidate."
About EpiCept Corporation
EpiCept is focused on unmet needs in the treatment of pain and cancer.
EpiCept has a staged portfolio of pharmaceutical product candidates with
several pain therapies in late-stage clinical trials, and a lead oncology
compound (for acute myeloid leukemia, or AML) with demonstrated efficacy in a
Phase III trial; a marketing authorization application for this compound is
under review by the European Agency for the Evaluation of Medicinal Products
(EMEA). EpiCept is based in Tarrytown, N.Y., and its research and development
team in San Diego is pursuing a drug discovery program focused on novel
approaches to apoptosis.
Forward-Looking Statements
This news release and any oral statements made with respect to the
information contained in this news release, contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include statements which express plans,
anticipation, intent, contingency, goals, targets, future development and are
otherwise not statements of historical fact. These statements are based on
EpiCept's current expectations and are subject to risks and uncertainties that
could cause actual results or developments to be materially different from
historical results or from any future results expressed or implied by such
forward-looking statements. Factors that may cause actual results or
developments to differ materially include: the risk that Myriad's development
of Azixa will not be successful, the risk that Azixa will not receive
regulatory approval or achieve significant commercial success, the risk that we
will not receive any significant payments under our agreement with Myriad, the
risk that the development of our other apoptosis product candidates will not be
successful, the risk that our ASAP technology will not yield any successful
product candidates, the risk that clinical trials for NP-1 will not be
successful, that NP-1 will not receive regulatory approval or achieve
significant commercial success, the risk that Ceplene will not receive
regulatory approval or marketing authorization in the EU, the risk that our
other product candidates that appeared promising in early research and clinical
trials do not demonstrate safety and/or efficacy in larger-scale or later stage
clinical trials, the risk that EpiCept will not obtain approval to market any
of its product candidates, the risks associated with reliance on additional
outside financing to meet its capital requirements, the risks associated with
dependence upon key personnel, the risks associated with reliance on
collaborative partners and others for further clinical trials, development,
manufacturing and commercialization of our product candidates; the cost, delays
and uncertainties associated with our scientific research, product development,
clinical trials and regulatory approval process; our history of operating
losses since our inception; competition; litigation; risks associated with our
ability to have our common stock readmitted to trading on The Nasdaq Global
Market; risks associated with prior material weaknesses in our internal
controls; and risks associated with our ability to protect our intellectual
property. These factors and other material risks are more fully discussed in
EpiCept's periodic reports, including its reports on Forms 8-K, 10-Q and 10-K
and other filings with the U.S. Securities and Exchange Commission. You are
urged to carefully review and consider the disclosures found in EpiCept's
filings which are available at www.sec.gov or at www.epicept.com. You are
cautioned not to place undue reliance on any forward-looking statements, any of
which could turn out to be wrong due to inaccurate assumptions, unknown risks
or uncertainties or other risk factors.
EPCT-GEN
SOURCE EpiCept Corporation
-0- 07/19/2007
/CONTACT: Robert W. Cook, EpiCept Corporation, +1-914-606-3500,
rcook@epicept.com; Investors: Kim Sutton Golodetz, +1-212-838-3777,
kgolodetz@lhai.com, or Bruce Voss, +1-310-691-7100, bvoss@lhai.com, both of
Lippert/Heilshorn & Associates; Media: Greg Kelley, Feinstein Kean Healthcare,
+1-617-577-8110, gregory.kelley@fkhealth.com /
/First Call Analyst: /
/FCMN Contact: /
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(EPCT)
EpiCept Establishes Direct Licensing Agreement with Dalhousie University for EpiCept(TM) NP-1
| Source: Immune Pharmaceuticals Inc
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