FORT COLLINS, Colo., Jan. 28 /PRNewswire-FirstCall/ -- Atrix Laboratories, Inc. announced today that the company has signed an exclusive licensing agreement with Han All Pharmaceutical Co., Ltd., to develop and commercialize Eligard(R) (leuprolide acetate for injectable suspension) in Korea. Leutenizing hormone releasing hormone (LHRH) agonists, like Eligard, are commonly used for the treatment of hormone-responsive prostate cancer and other indications such as breast cancer and endometriosis around the world.
"Korea is the second largest LHRH market in pan-Asia after Japan and among the top twenty globally," said David R. Bethune, Atrix's chairman and chief executive officer.
Han All Pharmaceutical is a well-established Korean pharmaceutical company focusing on mainly prescription medicines. With the Atrix collaboration, Han All aims to become a top player in the Korean prostate cancer market.
Atrix will receive royalty payments based on sales of the Eligard products upon approval. Han All will be responsible for any pre-clinical and clinical studies required for approval and will be responsible for submission of the necessary documents to obtain marketing authorization. Finally, Atrix will manufacture the Eligard products for Han All at its facility in Fort Collins, Colorado and will earn manufacturing profits on each unit made.
Atrix Laboratories, Inc. is an emerging specialty pharmaceutical company focused on advanced drug delivery. With five unique patented technologies, Atrix is currently developing a diverse portfolio of proprietary products, including oncology, pain management, and dermatology products. The company also partners with large pharmaceutical and biotechnology companies to apply its proprietary technologies to new chemical entities or to extend the patent life of existing products. Additional information is available on the Atrix Laboratories, Inc. website at http://www.atrixlabs.com/ .
This press release contains statements that qualify as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 including statements about Han All's goal to become a top player in the Korean prostate cancer market. The company is subject to certain risk factors that may cause actual results to differ materially from anticipated results. Those risks include, but are not limited to, risks associated with product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development and competition from other products and treatments. For additional information about risk factors, please see the reports filed by the company with the SEC, including the company's Annual Report on Form 10-K for the year ended December 31, 2002 and the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2003. All forward-looking statements in this press release are made as of the date hereof, based on information available to the company as of the date hereof, and the company assumes no obligation to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
Atrix Laboratories, Inc.
CONTACT: Danette R.M. Meyer, Ph.D., Director of Investor Relations ofATRIX LABORATORIES, INC., +1-970-482-5868, Dmeyer@atrixlabs.com