FOR IMMEDIATE RELEASE
Laureate Pharma and DrugAbuse Sciences Announce Commercial Manufacturing Services Agreement.
Princeton, NJ – June 24, 2002 – Laureate Pharma L.P. and DrugAbuse Sciences, Inc. announce the initiation of a contract manufacturing agreement related to a sustained release microsphere product. Under the agreement, Laureate Pharma will provide manufacturing services for DrugAbuse Sciences’ Naltrexone Depot product, currently in clinical trials. Terms of the agreement were not disclosed.
“We are very excited about this agreement and look forward to building a long term relationship with DrugAbuse Sciences,” said Ernest R. Tyler, Sr. Director Parenteral Production of Laureate Pharma. Added Robert J. Broeze, Ph.D., President of Laureate Pharma “Laureate Pharma expects to play a significant role in meeting DrugAbuse Sciences’ demand for manufacturing capacity over the next several years.”
Laureate Pharma, based in Princeton, NJ provides contract manufacturing services at its two sites in New Jersey. Sustained release production services are provided at its Totowa facility and biopharmaceutical development and manufacturing services are provided at a cGMP manufacturing facility in Princeton, NJ.
“We believe that Laureate Pharma will be an excellent supplier due to its expertise in microencapsulation and the excellence of its facilities,” said John B. de Brun, Senior Vice President of Operations, DrugAbuse Sciences. Elizabeth M. Greetham, Chairman and CEO of DrugAbuse Sciences concurred and added, “this is a major milestone in the development and commercialization of our leading product candidate, Naltrexone Depot.”
DrugAbuse Sciences, based in Hayward, CA, is the first biotechnology company focused solely on developing therapies for treatment of alcohol and substance abuse, with an innovative portfolio of six product candidates. The Company is developing Naltrexone Depot, a sustained release formulation of naltrexone. Naltrexone, as a once a day product, is indicated for use in the treatment of alcohol dependence and the blockade of exogenously administered opioids. Naltrexone is contraindicated in patients receiving opioid analgesics, currently dependent upon opioids, in acute opioid withdrawal, in anyone who has failed a naloxone challenge test or has an opiate positive urine test, in anyone with a history of sensitivity to naltrexone, or in anyone with acute hepatitis or liver failure. For more information on DrugAbuse Sciences contact Elizabeth M. Greetham, Chairman & CEO at (510) 259-3203, by email at firstname.lastname@example.org.
Laureate Pharma is a privately held contract manufacturing services company with headquarters in Princeton, NJ. The company is a dedicated to supporting the development and commercialization of pharmaceutical products for small to large pharmaceutical and biopharmaceutical companies. For more information on Laureate Pharma, contact the company directly at 609-919-3400, by email at email@example.com or visit www.laureatepharma.com.
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Editorial contact: Horst Tuckow, Techmarketing, Inc., Phone: (973) 770-5670 email: firstname.lastname@example.org