CepTor Corporation (CEPO.OB) Executes LOI With Ferring For Late Stage Product; Superoxide Dismutase Targeted For Phase 2B Clinical Trials
9/15/2006 9:57:37 AM
HUNT VALLEY, Md.--(BUSINESS WIRE)--Sept. 15, 2006--CepTor Corporation (OTC BB:CEPO), a biopharmaceutical company focusing on cell-targeted therapeutic products for neuromuscular and neurodegenerative diseases, announced today that it has signed a Letter of Intent (LOI) with Ferring International Center, S.A. in which Ferring plans to divest and CepTor plans to purchase recombinant human copper zinc superoxide dismutase (r-h CuZnSOD or SOD) for prevention of chronic respiratory morbidity in premature newborns. Upon and subject to completion of due diligence culminating in an agreement with the Food and Drug Administration (FDA) on the endpoints for a phase 2B clinical trial, CepTor will pay Ferring an exclusive option payment. CepTor may exercise its option for all worldwide rights to SOD with a grant-back royalty-free license to Ferring for infertility indications. Ferring will retain contract manufacturing rights.
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