EXHIBIT 99.3
CONTACTS:
INVESTMENT COMMUNITY: MEDIA:
Carol Gruetter John Lockhart
NeoTherapeutics, Inc. Halsted Communications, Inc.
Tel: (949) 788-6700 Tel: (800) 600-7111 x.224
e-mail: cgruetter@neotherapeutics.com (213) 957-3111 x.224
e-mail: jlockhart@halsted.com
Margaret Wyrwas and Christine Seketa
Hill and Knowlton, Inc.
Tel:(212) 885-0544 or (212) 885-0350
e-mail: mwyrwas@hillandknowlton.com
cseketa@hillandknowlton.com
FOR IMMEDIATE RELEASE
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NEOTHERAPEUTICS DEMONSTRATES NOVEL ACTIONS FOR AIT-082 ON CENTRAL NERVOUS SYSTEM
PRESENTED AT SOCIETY FOR NEUROSCIENCE MEETING IN LOS ANGELES
Los Angeles, November 12, 1998 -- NeoTherapeutics, Inc. (Nasdaq: NEOT;
NEOTW) announced new and important findings on AIT-082 (NEOTROFIN-TM-,
leteprinim potassium) that may shed light on the novel mechanism of action of
this compound. The research, presented at the 28th Annual Meeting of the
Society for Neuroscience in Los Angeles, describes experiments undertaken to
understand the novel mechanism of action of AIT-082. AIT-082 is currently in
clinical development for Alzheimer's disease.
Researchers presented a total of seven reports on AIT-082 at the meeting.
Among these reports, "Effect of AIT-082 on Brain NGF mRNA Levels and
Transport of AIT-082 Across the Blood-Brain Barrier" describes the rapid
entry of AIT-082 into the brain after injection into animals. While the drug
remains in the brain for only a few minutes, the length of time is sufficient
for AIT-082 to trigger the nerve cells to produce natural neurotrophic
factor. This short time in the brain prevents accumulation, which helps
explain the absence of toxic side effects. When AIT-082 reaches the neurons
in the brain, it acts by rapidly turning on the gene for nerve growth factor,
the effect of which is seen by two hours. These data confirm and extend
NeoTherapeutics' claims as to the rapid and unique nature of AIT-082's
actions in the central nervous system.
In another report, "The Effects of AIT-082 on Memory in Young and Aged Mice"
confirms that AIT-082 has different actions on the central nervous system
than other drugs in development for Alzheimer's disease. Many other
experimental memory-enhancing drugs act in concert with corticosteroid
hormones to improve memory. These experiments demonstrate that AIT-082's
memory-enhancing activities are independent of these hormones. The results
of time-dependent portions of this activity point to three actions of
AIT-082. Within 30 minutes after administering AIT-082, there are minor
improvements in motor coordination and sensitivity to pain that may be
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dependent on corticosteroid hormones. Two distinct memory effects, a
short-term effect and a long lasting effect, may be due to the presence of
increased levels of neurotrophic growth factors that are not affected by
these corticosteroid hormones.
The results from these two presentations emphasize AIT-082's uniqueness and
potential for use in a variety of neurodegenerative diseases. AIT-082 is
currently in clinical development for Alzheimer's disease. NeoTherapeutics
is exploring the possibility of this compound's use in other
neurodegenerative diseases.
Dr. Michelle Glasky, Vice President for Scientific Affairs of
NeoTherapeutics, said: "These new results provide additional evidence of the
unique action of AIT-082 to produce its memory enhancing activity by
potentially causing nerve regeneration or new nerve connections called
synapses. This action could explain the difference between AIT-082 and the
other therapeutic approaches which merely increase neurotransmitters. If
nerve connections are destroyed during degeneration, increasing levels of
neurotransmitter at dead connections will have little benefit. We are
hopeful that this beneficial action seen in animal studies can be extended to
the human trials currently in progress and planned for the future."
NeoTherapeutics' research program is focused on designing and developing
small molecules capable of promoting nerve regeneration and repair for a
range of neurological diseases and conditions such as Alzheimer's and
Parkinson's diseases, stroke and spinal cord injury. Additional compounds in
NeoTherapeutics' product pipeline address other health issues such as
migraine and depression. For additional Company information, visit the
NeoTherapeutics web site at www.neotherapeutics.com.
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This press release contains forward-looking statements regarding future
events and the future performance of NeoTherapeutics that involve risks and
uncertainties that could cause actual results to differ materially. These
risks include, but are not limited to, the early stage of product
development, the need for additional funding, the initiation and completion
of clinical trials and dependence on third parties for clinical testing,
manufacturing and marketing. These risks are described in further detail in
the Company's reports filed with the Securities and Exchange Commission.
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