"We are pleased with the progress that P&G is making on the PTH1-34 nasal spray program," stated Steven C. Quay, M.D., Ph.D., Chairman, President and CEO of Nastech. "This milestone represents further validation of Nastech's capabilities in developing well-tolerated, non-invasive delivery alternatives for products that currently require injections."
About PTH1-34
PTH1-34 is a fragment of the naturally occurring human parathyroid hormone that is an important regulator of calcium and phosphorus metabolism. When given by daily injection, PTH1-34 has been shown to increase bone mineral density and significantly reduce both vertebral and non-vertebral fractures in postmenopausal women. Daily injections of PTH1-34 are approved for the treatment of postmenopausal osteoporosis and had $127 million in sales during the first quarter of 2006. In February 2006, Nastech and P&G entered into a development and commercialization collaboration for PTH1-34 as an investigational nasal spray.
About Nastech
Nastech is a pharmaceutical company developing innovative products based on proprietary molecular biology-based drug delivery technologies. Nastech and its collaboration partners are developing products for multiple therapeutic areas including osteoporosis, diabetes, obesity, respiratory diseases and inflammatory conditions. Additional information about Nastech is available at http://www.nastech.com.
Nastech Forward Looking Statements
Statements made in this press release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Nastech to obtain additional funding; (ii) the ability of Nastech to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) Nastech's and/or a partner's ability to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) Nastech's and/or a partner's ability to obtain required governmental approvals; and (v) Nastech's and/or a partner's ability to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Nastech's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Nastech assumes no obligation to update and supplement forward-looking statements because of subsequent events.
CONTACTS:
Nastech Pharmaceutical Company Inc.
Nastech Ed Bell Senior Investor Relations Manager (425) 908-3639 ir@nastech.com
Noonan Russo Matthew Haines (Investors/Media) (212) 845-4235
Source: Nastech Pharmaceutical Company Inc.
