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| |  Broad-Spectrum Antifungal Licensed by Bristol-Myers Squibb PRINCETON, N.J., Dec. 12, 1996 -- Bristol-Myers Squibb (NYSE: BMY) announced today a licensing agreement with Eisai Co., Ltd. of Japan for Eisai's ER-30346, an oral broad-spectrum antifungal triazole for treatment of systemic fungal infections such as candidiasis, aspergillosis and cryptococcal meningitis. ER-30346 is a promising advance in antifungals for the treatment of immunocompromised patients such as those with AIDS, or cancer, and organ transplant patients, who are at risk for developing serious fungal infections. The new agent may also be used in the treatment of non-life threatening fungal infections such as oropharyngeal (oral) candidiasis. Under the terms of the agreement, Bristol-Myers Squibb obtains an exclusive license worldwide for ER-30346, except in Japan where Bristol-Myers Squibb has a semi-exclusive license with Eisai to develop and market ER-30346. Bristol-Myers Squibb will provide up-front and milestone payments to Eisai as well as royalty payments after marketing. Financial terms of the agreement were not disclosed. This is the fifth product development and marketing agreement Bristol-Myers Squibb has announced in the past four months. ER-30346, discovered by Eisai Co., Ltd., has demonstrated excellent activity in preclinical studies against most fungi responsible for severe infections, such as Aspergillus, Cryptococcus and Candida including those resistant to fluconazole. Preliminary data suggest that the agent shows clear advantages over currently used triazoles, demonstrating increased efficacy and a broader spectrum of activity in preclinical studies. The new compound will be administered as an oral formulation and will be developed by Bristol-Myers Squibb through a major worldwide clinical effort. "This new agent is an exciting new development in the fight against severe fungal infections, and represents a promising new addition to the Bristol-Myers Squibb infectious disease pipeline," said Sol Rajfer, M.D., senior vice president, Worldwide Clinical Research and Development, Bristol-Myers Squibb. "This agreement provides a unique opportunity for our company to expand our presence in the antifungal market, and when approved, will provide a strong complement to our existing portfolio which includes amphotericin B and nystatin." The infectious disease franchise represents one of Bristol-Myers Squibb's most established therapeutic areas. Among the company's major products currently marketed are CEFZIL(R) (cefprozil), an oral semi-synthetic, broad-spectrum cephalosporin, now the number one prescribed oral suspension cephalosporin brand in the U.S.; MAXIPIME(R) (cefepime), a broad-spectrum injectable cephalosporin available in over 20 markets including a recent introduction in the U.S.; ZERIT(R) (stavudine, d4T) and VIDEX(R) (didanosine, ddI), nucleoside analogues used in the treatment of human immunodeficiency virus (HIV), the virus that causes AIDS. Eisai Co., Ltd. is a research-based human health care company which discovers, develops and markets products in more than 30 countries. Through its global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide health care systems. The company reported sales of over $2.5 billion in fiscal year 1995 with approximately 14 percent of sales spent for research and development. Bristol-Myers Squibb is a diversified worldwide health and personal care company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices. It is a leading maker of innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatological disorders, and cancer. The company is also a leader in consumer medicines, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products.
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