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NeoPharm Announces Expansion of Research Relationship With FDA (Business Wire)NeoPharm, Inc. announced today that it has reached agreement with the FDA to expand the existing Cooperative Research and Development Agreement with the FDA to develop the anti-cancer agent IL13-PE38 for the treatment of tumors that express IL-13 receptors.- Feb 28 12:41 PM ET


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Posted on: 02/28/2001

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Wednesday February 28, 12:41 pm Eastern Time

Press Release

NeoPharm Announces Expansion of Research Relationship With FDA

CRADA Extended Through December 31, 2003

LAKE FOREST, Ill.--(BUSINESS WIRE)--Feb. 28, 2001--NeoPharm, Inc. (Nasdaq National Market: NEOL) announced today that it has reached agreement with the FDA to expand the existing Cooperative Research and Development Agreement (CRADA) with the FDA to develop the anti-cancer agent IL13-PE38 for the treatment of tumors that express IL-13 receptors. The term of the CRADA has been extended by two years and will now run through December 31, 2003. In addition to the extended term, NeoPharm has increased the scope and funding of the CRADA. NeoPharm is currently conducting Phase I clinical trials of IL13-PE38 in both systemic (kidney cancer) and intratumoral (brain tumor) administration.

"We are pleased to announce the continuation of our unique research relationship with FDA", said James Hussey, President and Chief Executive Officer of NeoPharm. "This CRADA has already resulted in two Phase I programs for NeoPharm. We are hopeful that further research will result in more targets for IL13-PE38."

NeoPharm, Inc., based in Lake Forest, IL, is a publicly traded biopharmaceutical company dedicated to the discovery and commercialization of new and innovative cancer drugs for therapeutic applications. The Company has a broad portfolio of cancer compounds in various stages of development.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's drug development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Companies' drug candidates, unexpected adverse side effects or inadequate therapeutic efficacy of the Companies' drug candidates that could slow or prevent products coming to market, the uncertainty of patent protection for the Company's intellectual property or trade secrets and other risks detailed from time to time in filings the Company makes with Securities and Exchange Commission including their annual reports of Form 10-K and their quarterly reports on Forms 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.


Contact:
     NeoPharm, Inc., Lake Forest
     Larry Kenyon, 847/295-8678
        or
     MontRidge, LLC for Investors
     Janet Dally, 203/894-8038

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