Emisphere Technologies, Inc. Announces Expanded Collaboration Agreement With Novartis Pharma AG and Cancellation of Convertible Promissory Note

CEDAR KNOLLS, N.J., June 4, 2010 (GLOBE NEWSWIRE) -- Emisphere Technologies, Inc. (OTCBB:EMIS) (the “Company”) today announced that it has entered into an expanded relationship with Novartis Pharma AG (“Novartis”) pursuant to which Novartis has cancelled the Company’s Convertible Promissory Note (the “Note”). The Note was originally issued to Novartis on December 1, 2004 in connection with the Research Collaboration and Option License Agreement between the parties of that date and was originally due December 1, 2009. Previously, Novartis had agreed to extend the maturity date to June 4, 2010.