43AI Rolls-r 24

RNS No 6059d
ELAN CORPORATION PLC
12th August 1997


           TARGON CORPORATION, A SUBSIDIARY OF CYTOGEN CORPORATION,           
             LICENSES MORPHELAN ONCE DAILY MORPHINE PRODUCT FROM              
                       ELAN PHARMACEUTICAL TECHNOLOGIES                       

PRINCETON, NJ, August 11, 1997 - CYTOGEN Corporation (NASDAQ: CYTO) and Elan
Corporation, plc (NYSE: ELN) announced today that its subsidiary Targon
Corporation licensed from Elan Pharmaceutical Technologies, a division of Elan
the exclusive, worldwide rights for Elans oral once-daily, controlled-release
formulation of morphine sulfate, known as Morphelan.  Elan is CYTOGENs
strategic partner in the Targon venture, in which the companies collaborate to
bring new products to the oncology marketplace.  Targon will be responsible
for the further clinical development of the Morphelan drug, which has already
been studied in normal volunteers.  Following successful completion of
clinical trials, Targon will prepare the New Drug Application submission to
the Food and Drug Administration.

Commenting on the Morphelan license, Thomas J. McKearn, CYTOGENs Chief
Executive Officer, President and Chairman said: "The unique pharmacokimetic
profile of the Morphelan product has the potential to offer patients more
consistent morphine blood levels and provide them with around-the-clock pain
relief from a single oral dose.  This unique profile was achieved by
utilization of Elans proprietary drug delivery program.  Targon will study the
Morphelan drug as an analgesic therapy for moderate to severe pain.  Based on
currently available human data, the decreased variability in blood levels
associated with this product may allow continuous relief with a decrease in
side effects".

Michael Sember, Chief Executive Officer of Targon said:  "The Morphelan
product represents a significant milestone for Targon, strengthening its
overall portfolio of products.  Morphelan is expected to fulfil a significant
unmet need in the oncology marketplace presenting an exciting business
opportunity for Targon.  The drug will enter the rapidly growing
non-injectable narcotic analgesic market which in 1996 was estimated at $700
million in the United States.  By year end Targon expects to have Morphelan
and three other oncology products in clinical trials and will be seeking
collaboration partners to participate in the development and commercialization
activities of the company".

Terms of the transaction are available in CYTOGENs second quarter 1997 Form
10-Q.

Dr McKearn commented: "Targon will rely on CYTOGENs expertise in developing
products for the relief of chronic pain.  Recently, CYTOGEN completed the
successful development and Food and Drug Administration licensure of our
Quadramet product for bone pain due to skeletal metastases that can be
visualised on bone scans.  This type of chronic bone pain can be severe. 
CYTOGENs recent success with this pain therapeutic should benefit the
development of Targons Morphelan product".

Targon is the creation of a strategic partnership between CYTOGEN and Elan for
the development and commercialization of oncology products.  The venture will
draw upon CYTOGENs strength in the clinical development and regulatory
approval process for oncology products and Elans expertise in drug delivery
technologies.  These two attributes together will enable Targon to offer
superior drug development while simultaneously reducing the time needed for
product commercialization.  Targon is currently a majority owned subsidiary of
CYTOGEN.  Elan has conversion rights to make the entity an equally held joint
venture.

Except for historical information contained herein, the matters discussed in
this press release contain forward looking statements that involve risks and
uncertainties regarding future events and/or the future financial performance
of the Company.  Such statements are merely predictions and actual events and
results may differ materially.  For a more complete discussion of these risks
and uncertainties we refer you to documents that the Company files from time
to time with the Securities and Exchange Commission, such as 10K and 10Q
filings.


For further information contact:

Mary Bingham
Director, Investor Relations
Elan Corporation plc
Ph: 212-755-3218

Lynne Baron
Vice President
Finance and Communications
CYTOGEN Corporation
Ph: 609 987 8221



END

Rolls-r 24 (LSE:43AI)
Historical Stock Chart
From Sep 2024 to Oct 2024

Rolls-r 24 (LSE:43AI)
Historical Stock Chart
From Oct 2023 to Oct 2024