CEDAR KNOLLS, N.J. and WILMINGTON, N.C., April 6, 2009 (GLOBE NEWSWIRE) -- Emisphere Technologies, Inc. (Nasdaq:EMIS), a biopharmaceutical company that focuses on a unique and improved delivery of therapeutic molecules and nutritional supplements using its Eligen(r) Technology, and AAIPharma, Inc. announce a strategic alliance intended to expand the application of Emisphere's Eligen(r) Technology and AAIPharma's drug development services.
AAIPharma Inc. is a global provider of pharmaceutical product development services that enhance the therapeutic performance of its clients' drugs. The company works with many pharmaceutical and biotech companies and currently provides drug product formulation development services to Emisphere.
Emisphere's proprietary Eligen(r) Technology is a unique and improved delivery method for therapeutic molecules and nutritional supplements. The key benefit of Eligen(r) Technology is that it improves the ability of the body to absorb small and large molecules. These molecules with poor bioavailability may be currently delivered by injection. The Eligen(r) Technology can be applied to oral administration or other routes of administration other than oral, such as buccal, rectal, inhalational, intra-vaginal or transdermal.
"This relationship expands Emisphere's access to new therapeutic candidates for its Eligen(r) Technology, which potentially could lead to new products for Emisphere's pipeline and to new alliance agreements as well," said Michael V. Novinski, President and Chief Executive Officer of Emisphere. "We are also pleased that a global provider of pharmaceutical product development services with the stature of AAI has chosen to combine with Emisphere in a synergistic alliance that will benefit both organizations," Mr. Novinski added.
"We are very excited about this strategic alliance with Emisphere as it fits well within our strategy to offer drug delivery options to our pharmaceutical and biotech customers. The combination of the Emisphere Eligen(r) Technology and AAIPharma's best in class drug development services will be of tremendous value to customers seeking proprietary and unique oral drug delivery options," said L. Lee Karras, Senior Vice President of AAIPharma's Pharmaceutical Services business.
About Emisphere Technologies, Inc.
Emisphere is a biopharmaceutical company that focuses on a unique and improved delivery of therapeutic molecules and nutritional supplements using its Eligen(r) Technology. These molecules and compounds could be currently available or in development. Such molecules are usually delivered by injection; in many cases, their benefits are limited due to poor bioavailability, slow on-set of action or variable absorption. The Eligen(r) Technology can be applied to the oral route of administration as well other delivery pathways, such as buccal, rectal, inhalation, intra-vaginal or transdermal. The company's website is: www.emisphere.com.
About AAIPharma, Inc.
AAIPharma Inc. is a global drug development company that provides services to the pharmaceutical, biotechnology, and medical device industries. AAIPharma's service offerings include: analytical services, product development services, oral drug delivery technologies, contract manufacturing (solids and parenterals), clinical packaging and distribution, phase I clinical development services, including bioanalysis and clinical services, phase II-IV. For more information, please visit www.aaipharma.com.
Safe Harbor Statement Regarding Forward-looking Statements
The statements in this release and oral statements made by representatives of Emisphere relating to matters that are not historical facts (including without limitation those regarding the timing or potential outcomes of research collaborations or clinical trials, any market that might develop for any of Emisphere's product candidates and the sufficiency of Emisphere's cash and other capital resources) are forward-looking statements that involve risks and uncertainties, including, but not limited to, the likelihood that future research will prove successful, the likelihood that any product in the research pipeline will receive regulatory approval in the United States or abroad, the ability of Emisphere and/or its partners to develop, manufacture and commercialize products using Emisphere's drug delivery technology, Emisphere's ability to fund such efforts with or without partners, and other risks and uncertainties detailed in Emisphere's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in Emisphere's Annual Report on Form 10-K (file no. 1-10615) filed on March 13, 2008 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, filed on November 6, 2008.