Inyx Announces Expanded Relationship with NovaDel Pharma
NEW YORK, March 9 /PRNewswire-FirstCall/ -- Inyx, Inc. (OTC Bulletin Board:
IYXI), a specialty pharmaceutical company with a focus on niche drug delivery
technologies and products, announced today that it has signed a letter of
intent with NovaDel Pharma Inc. (AMEX:NVD), whereby Inyx, upon achievement of
key milestones, will serve as NovaDel's partner of choice to manufacture, for
worldwide markets, three additional products from NovaDel's product pipeline.
On November 23, 2004, Inyx announced it was awarded an exclusive five-year
contract to produce NovaDel's nitroglycerin lingual spray for the treatment of
acute angina, the first of NovaDel's Tier One priority products to reach the
stage of New Drug Application (NDA) review by the U.S. Food and Drug
Administration.
Jack Kachkar, M.D., Chairman and CEO of Inyx, said, "We are pleased with our
expanding, long-term relationship with NovaDel. We look forward to NovaDel
being one of our important new clients for whom we will be producing out of the
Manati, Puerto Rico production complex that Inyx is acquiring from
sanofi-aventis Group (NYSE:SNY)." Gary A. Shangold, M.D., NovaDel's President and CEO, said, "We are impressed
not only with Inyx's manufacturing expertise but also with the production site
in Manati, Puerto Rico." On December 17, 2004, Inyx announced it signed a definitive agreement with
Aventis Pharmaceuticals, Inc., a member of the sanofi-aventis Group, to acquire
certain assets and business of Aventis Pharmaceuticals Puerto Rico Inc. The
acquisition of the Manati complex, which consists of five buildings totaling
about 140,000 square feet and extends over 9.5 acres, is scheduled to close on
March 31, 2004.
About Inyx Inyx, Inc. is a specialty pharmaceutical company with aerosol drug delivery
technologies and products for the treatment of respiratory, allergy,
dermatological, topical and cardiovascular conditions. Inyx focuses its
expertise on both prescription and over-the-counter pharmaceutical products,
and provides specialty pharmaceutical development and production consulting
services to the international healthcare market. In addition, Inyx is
developing its own proprietary products to be marketed by selected clients and
strategic partners, which include some of the largest pharmaceutical companies. The company's operations are conducted through its wholly owned subsidiary,
INyX Pharma Limited, with R&D and production facilities located near
Manchester, England, which serves global markets including: North America,
Europe, Latin & South America and the Middle East. Another wholly owned
subsidiary, Inyx Canada, Inc. based in Toronto, provides business development
and support services. Inyx, Inc.'s corporate offices are in New York City.
For more information: http://www.inyxinc.com/.
About NovaDel NovaDel Pharma Inc. is a specialty pharmaceutical company engaged in the
development of novel drug delivery systems for prescription and over-the-
counter drugs. The company's proprietary lingual spray technology delivery
system offers the patient the potential for (i) fast onset of action; (ii)
improved drug safety by reducing the required drug dosage and reducing side
effects; (iii) improved patient convenience and compliance; and (iv) enhanced
dosage reliability. The company plans to develop such products independently
and through collaborative arrangements with major pharmaceutical and biotech
companies. For more information: http://www.novadel.com/.
Safe Harbor Statements about Inyx's future expectations, including future
revenues and earnings, and all other statements in this press release other
than historical facts, are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such forward-looking
statements be subject to the safe harbors created thereby. Since these
statements involve risks and uncertainties and are subject to change at any
time, the Company's actual results could differ materially from expected
results.
For more information, please contact:
Jay M. Green, Executive VP
Inyx, Inc. 212-838-1111 Barry C. Cohen, VP Business & New Product Development
NovaDel Pharma Inc. 908-782-3431, ext. 2160
DATASOURCE: Inyx, Inc.
CONTACT: Jay M. Green, Executive VP of Inyx, Inc., +1-212-838-1111, ; or Barry C. Cohen, VP Business & New Product Development of NovaDel Pharma Inc., +1-908-782-3431, ext. 2160 Web site: http://www.inyxinc.com/
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