Catalyst Announces Licensing Alliance for Cardiovascular Therapeutic-U.S. Phase 2 Clinical Study in Intermittent Claudication scheduled for Q2 2003

Catalyst Pharmaceutical Research (Catalyst) announced today that they have entered into an exclusive international licensing representation agreement with Nissan Chemical Industries, Ltd. (Nissan) to find a partner for commercial development of NM-702, a novel phosphodiesterase inhibitor for North America and Europe.

In September of 2002, Nissan announced an agreement with Taisho Pharmaceuticals Co., Ltd. (PRWEB) March 15, 2003 -702 in Japan and the joint support for further studies in the United States (U.S.) to accelerate the global commercialization of this product. Nissan, in collaboration with Taisho, is now seeking an international development and marketing partner for NM-702, who will contribute to and benefit from the rapid global development of NM-702. To facilitate this process, they have selected Catalyst as their exclusive international licensing representative. Catalyst is conducting the Phase 2B clinical study of the compound, designated NM-702, scheduled to start this spring in the U.S.

According to Richard P. Anthony, president and CEO of Catalyst, Having reviewed the pre-clinical and clinical data we are confident in the commercial potential of NM-702 in intermittent claudication and other peripheral vascular diseases, and are honored to be the exclusive international licensing representative, as well as the contract research organization for the international clinical development of this compound."

About NM-702
NM-702 has a unique mechanistic profile for the treatment and chronic management of peripheral arterial disease as well as other indications related to blood flow via the overlapping effects of PDE-III and PDE-V. PDE inhibitors are an important class of pharmaceutical compounds with highly distinct efficacy and safety profiles depending on the specific PDE target. Pharmacologic effects of PDE-III/PDE-V inhibition include, vasodilation, smooth muscle relaxation and platelet aggregation inhibition, due to decreased degradation of cyclic adenosine monophosphate (cAMP) and cyclic guanosine monophosphate (cGMP).

The extensive body of knowledge in place for NM-702 provides a well-defined path for completing pivotal clinical studies and obtaining FDA approval for the lead indication, intermittent claudication. In studies to date, NM-702 has shown an excellent safety profile at clinically active doses. Four Phase 1 studies have been completed, and Phase 2 data from the US and Japan supports the clinical potential of this compound. NM-702 has a global intellectual property package encompassing composition of matter and utility patents.

About Nissan Chemical Industries Ltd.
Since Nissan was founded in 1887, the company has grown to be a leading manufacturer of a wide range of industrial and specialty chemicals, electronic materials, agrochemicals, and pharmaceuticals. Nissans pharmaceutical products include anti-hypertensive, anti-inflammatory, and lipid-lowering drugs. More background information on Nissan is available at the company web site: ((http://www.nissanchem.co.jp/english/pharm/index.html)

About Taisho
Taisho founded in 1912, is the leading over-the-counter (OTC) pharmaceutical company in Japan. Taisho has been producing prescription drugs since 1955. Today, Taisho is using cutting-edge development techniques and working together with research facilities in Japan and around the world in search of effective, innovative new drugs. More information on Taisho can be found at http://www.taisho.co.jp/outline/index-e.htm