IVAX Acquires Drug In Advanced Clinical Development

ivax-corporation has entered into an exclusive agreement with Eli Lilly and Company to develop and market the AMPA receptor antagonist, talampanel, worldwide.

Phase II clinical trials with talampanel in patients with severe epilepsy not responsive to other drugs have shown positive results and phase III trials in epilepsy will be done to confirm and expand these results.

Dr. Phillip Frost, Chairman and CEO of IVAX commented, “IVAX is very pleased to have talampanel, a compound that has already shown indications of efficacy in phase II clinical trials in patients with uncontrolled seizures. The worldwide market for drugs to treat seizures was $3 billion in 2000. Talampanel is a molecule designed to target the AMPA receptor because of its clear relationship to progressive neurological diseases such as epilepsy, Parkinson’s Disease, and multiple sclerosis.”

Talampanel was initially discovered at the Institute for Drug Research in Budapest, Hungary, now a wholly owned subsidiary of IVAX Corporation.

Dr. Nicholas Bodor, managing director of the Institute for Drug Research and IVAX’ Senior Vice President of Drug Discovery, commented, “The Institute for Drug Research takes great pride in talampanel, which was discovered by our scientists who are at the forefront of research in the design of small molecules to target receptors on the surface of cells.”

IVAX Corporation, headquartered in Miami, Florida, is a holding company with subsidiaries engaged in the research, development, manufacturing, and marketing of branded and generic pharmaceuticals and veterinary and diagnostic products in the U.S. and international markets.

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