HUNT VALLEY, Md.--(BUSINESS WIRE)--Oct. 20, 2005--CepTor Corporation (OTCBB:CEPO), a development-stage biopharmaceutical company focusing on cell targeted therapeutic products for neuromuscular and neurodegenerative diseases, today announced that it will receive a $1.5 million milestone payment from JCR Pharmaceuticals of Japan upon filing an Investigational New Drug (IND) application for Myodur (C-101) in muscular dystrophy. The payment will include $1 million in equity at the then current market price and $500,000 in cash. Upon JCR obtaining approval in the Pacific Rim, CepTor will receive 25% royalties on sales of Myodur in Japan, South Korea, China, Taiwan and Singapore. The upcoming milestone payment is part of an exclusive license agreement for Myodur in muscular dystrophy in the Pacific Rim that CepTor and JCR entered into in September of 2004. CepTor recently announced that it plans on submitting its IND in January, 2006.
