Aug. 20, 2002
Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK) announced today that it was issued U.S. Patent No. 6,436,950, entitled, "Nasal Delivery of Apomorphine." The patent contains thirteen claims and is directed to compositions of apomorphine or a chemically modified equivalent or pharmaceutical salt and to methods of treating sexual dysfunction, including erectile dysfunction. Apomorphine is a potent dopamine agonist that promotes erectile function by stimulating receptors in the hypothalamus. Nastech has licensed the intranasal apomorphine program for sexual dysfunction on a worldwide basis to Pharmacia Corporation.
"This is the first patent issued to Nastech directed to our intranasal apomorphine program and as such it is an important addition to our growing patent estate," stated Steven C. Quay, M.D., Ph.D., Chairman, President, and Chief Executive Officer. "Nastech has filed numerous patent applications concerning our drug delivery technologies which are intended to safely and effectively deliver small and large molecule therapeutics. We intend to continue our focused research and development efforts to further enhance our position as a leader in nasal drug delivery."
Apomorphine acts specifically on the D1/D2 class of dopamine receptors that are responsible for the initiation of the erectile response in the brain. Nastech's nasally administered formulation is the subject of numerous other patent applications in the U.S., European Union countries, Japan, and other major countries.
ED is defined as the inability to achieve and/or maintain an erection adequate for satisfactory sexual function. Approximately 30 million men in the U.S. and 150 million men worldwide suffer from ED (Deutsche Banc Alex. Brown, June 2001). The ED market is expected to have peak sales of over six billion dollars worldwide. The condition is correlated with increasing age, cardiovascular disease, hypertension, diabetes, hyperlipidemia and smoking. In addition, neurogenic risk factors such as radical prostatectomy, spinal cord injury and multiple sclerosis, certain prescription drugs, and psychogenic issues may contribute to ED.
Nastech Pharmaceutical Company Inc., recognized worldwide as a leader in nasal drug delivery technology, is dedicated to improving patient care by using "Formulation Science," a systematic approach to drug development using biophysics, physical chemistry, and pharmacology to improve efficacy and safety, and to provide new therapeutic options. Additional information on Nastech is available at http://www.nastech.com/ .
NASTECH SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 including, without limitation, statements regarding
the following: (a) the Company's success in its various pre-clinical and
clinical development programs; (b) the future capacity of the Company's
Seattle facility; (c) the Company's future plans to market and sell Nascobal;
(d) the Company's discussion with potential pre-clinical and clinical partners;
and (e) the Company's achievement of its 2002 corporate objectives.
These statements are subject to a variety of risks and uncertainties.
There are a number of important factors that could cause actual results
to differ materially from those projected or suggested in any forward-looking
statement made by the Company. These factors include, but are not limited
to: (i) the Company's and/or the Company's partner's ability to successfully
complete product research and development, including pre-clinical and clinical
studies and commercialization; (ii) the Company's and/or the Company's
partner's ability to obtain required governmental approvals, including
product and patent approvals; (iii) the Company's ability to attract and/or
maintain manufacturing, sales, distribution and marketing partners; and
(iv) the Company's and/or the Company's partner's ability to develop and
commercialize products before its competitors. In addition, significant
fluctuations in quarterly results may occur as a result of the timing of
milestone payments and the timing of costs and expenses related to the
Company's research and development program. A detailed discussion
of additional factors that could cause actual results to differ materially
from those projected or suggested in any forward-looking statements is
contained in the Company's filings with the Securities and Exchange Commission,
including those factors discussed under the caption "Risk Factors" in the
Company's most recent Annual Report on Form 10-K. Nastech undertakes
no obligation to update forward- looking statements to reflect events or
circumstances occurring after the date of this press release.
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