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Dowpharma (DOW) Signs Agreement For Drug Solubilization Feasibility Studies With Bristol-Myers Squibb Company (BMY)

10/19/2005 5:10:59 PM

MIDLAND, Mich., April 21 /PRNewswire/ -- Dowpharma, a business unit of The Dow Chemical Company , will apply advanced particle engineering technologies designed to deliver solubilization benefits to drug compounds from Bristol-Myers Squibb Company under an agreement announced today.

The ability to dissolve faster in the body can make certain drugs more effective. Studies conducted under the agreement will determine if BioAqueous(SM) solubilization services, part of Dowpharma's service portfolio, can favorably impact performance of the candidate compounds. The agreement funds feasibility studies and includes provisions for milestone and royalty payments to Dowpharma based on successful progression of the compounds toward regulatory approval and commercialization. Neither financial details of the agreement nor the identity of the compounds is being disclosed.

Dowpharma is targeting pharmaceutical and biopharmaceutical developers who want to improve performance of poorly soluble drug compounds. "BioAqueous solubilization services are receiving wide interest among pharmaceutical companies," said Nick Hyde, business director, Dowpharma. "Companies know they can turn a challenging drug compound into a real win if solubilization difficulties can be overcome. Now, when off-the-shelf remedies don't work, BioAqueous services offer them more alternatives in the form of advanced, customized solubilization solutions."

"Advanced solubilization technologies can potentially enhance both ongoing drug candidate development and the value of drugs currently on the market," said Ronald L. Smith, Ph.D., Executive Director of Exploratory Biopharmaceutical Research and Stability for Bristol-Myers Squibb's Pharmaceutical Research Institute. "This agreement expands our portfolio of options to apply technology solutions to address drug solubilization challenges."

Technologies developed by Dow show the ability to alter particle size, surface area, or morphology to create nanostructured particles that can improve a drug's ability to dissolve in the body. Based on the specific challenges of a particular drug compound, an initial feasibility study employs Dow's portfolio of advanced particle engineering technologies to develop customized solutions to meet the desired performance objectives of the compound. Beyond a feasibility study, BioAqueous solubilization services include support through all stages of development, optimization, and production of clinical supplies.

BioAqueous services also offer cGMP manufacturing of particles at commercial scale. More information is available at .

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical and related health care products company whose mission is to extend and enhance human life. To learn more about Bristol-Myers Squibb, visit .

About Dowpharma

Dowpharma serves the pharmaceutical and biopharmaceutical industries with innovative technology, products, and services for clients in drug discovery, development, manufacturing, and delivery. Dowpharma combines the resources and capabilities of several offerings to create a single, market-focused organization with broad service and support capabilities for large and emerging pharmaceutical companies.

Dowpharma services include process development, route selection, methods development, custom solubilization, chiral capabilities, and associated analytical services, as well as manufacturing and scale-up from feasibility, through clinical trials, to commercial manufacturing. Dowpharma currently manufactures small molecule Active Pharmaceutical Ingredients (APIs) and intermediates, oligonucleotides, cGMP polymers, peptides and therapeutic proteins from microbial fermentation and plant-based technologies.

Dowpharma draws upon a 20-year history of excellent cGMP regulatory compliance in the organic synthesis of APIs and pharmaceutical intermediates with the ability to provide client support in filing and validation strategies. Dowpharma operates research, process development, and manufacturing facilities in North America and Europe. More information is available at .

About Dow

Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $33 billion, Dow serves customers in more than 180 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its approximately 46,000 employees seek to balance economic, environmental and social responsibilities. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. For further information, visit .

Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors of both Dow and Bristol- Myers Squibb are cautioned that all forward-looking statements involve risks and uncertainties.

For editorial information, please contact Adrianne Proctor, The Dow Chemical Company (ph) 989-636-5636, or Josiah McClellan, Gibbs & Soell (ph) 212-697-2600.

(SM) BioAqueous is a service mark of The Dow Chemical Company.

The Dow Chemical Company

CONTACT: Adrianne Proctor of The Dow Chemical Company, +1-989-636-5636, ; or Josiah McClellan of Gibbs & Soell,

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