Novartis Signs Collaboration Agreement with Regeneron for Rheumatoid


BASEL, Switzerland, March 28, 2003 (PRIMEZONE) -- Novartis (NYSE:NVS) (Other OTC:NVSEF):

- Partnership with Regeneron for IL-1 Cytokine Trap compound in phase II clinical development.

- Agreement provides Novartis worldwide co-promotion excluding Japan

Novartis Pharma AG has signed an agreement to license IL-1 Trap compound from Regeneron, a Tarrytown NY based, publicly quoted, biopharmaceutical company developing therapies for rheumatoid arthritis, cancer, allergy and asthma. Under the terms of the agreement, Novartis will purchase $48 million of newly issued Regeneron common stock. In addition Novartis will pay Regeneron $27 million upon closing for its development activities. Further payments are contingent on meeting approval and sales milestones.

To view this release in an Adobe (.pdf) file please visit the following link: http://reports.huginonline.com/897295/115332.pdf



            

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