OSI collaborates on drug's sustained release

March 15, 2006

Fort Collins, CO?PR Pharmaceuticals (PRP) will work with OSI Pharmaceuticals to develop a sustained-release formulation of pegaptanib sodium injection (Macugen) using its proprietary ProPhase encapsulation technology.

Fort Collins, CO-PR Pharmaceuticals (PRP) will work with OSI Pharmaceuticals to develop a sustained-release formulation of pegaptanib sodium injection (Macugen) using its proprietary ProPhase encapsulation technology.

The deal gives OSI an exclusive license to use the encapsulation technology with the drug in the treatment of eye diseases. PRP will develop the formulations and manufacture the test product for non-clinical and clinical trials.

OSI's eye disease unit, Eyetech Pharmaceuticals, will be responsible for clinical development activities and may manufacture and commercialize any resulting product.

Pegaptanib sodium injection was approved Feb. 2 for sale in the Europe-and previously was marketed in the United States, Canada, and five other countries-for the treatment of neovascular age-related macular degeneration. Pfizer Inc. has exclusive rights to market the drug outside the United States under a royalty-bearing license agreement.