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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
March 19, 2001
Date of Report (Date of earliest event reported)
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NEOTHERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 000-28782 93-0979187
(State or other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification Number)
157 TECHNOLOGY DRIVE
IRVINE, CALIFORNIA 92618
(Address of principal executive offices) (Zip Code)
(949) 788-6700
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 9. REGULATION FD DISCLOSURE
On March 19, 2001, NeoTherapeutics, Inc. issued a news release, the text
of which is set forth below, announcing that its subsidiary NeoGene
Technologies, Inc., has entered into a Drug Pfinder Agreement with Pfizer Inc.
Under the terms of the agreement, Pfizer will make use of NeoGene's technology
to screen potential drug candidates. In return, NeoGene is entitled to receive
an initial payment and milestone payments which could total $12,000,000 if
Pfizer receives final market approval from the Food and Drug Administration for
a drug candidate identified using NeoGene's technology under the agreement.
NeoTherapeutics, Inc. is furnishing the information contained in this Current
Report on Form 8-K pursuant to the Securities and Exchange Commission's
Regulation FD.
NEOTHERAPEUTICS' NEOGENE SIGNS LICENSE AGREEMENT WITH PFIZER
PFIZER WILL USE AN ORPHAN RECEPTOR IDENTIFIED BY NEOGENE TECHNOLOGIES,
A SUBSIDIARY OF NEOTHERAPEUTICS
IRVINE, Calif., March 19, 2001 -- NeoTherapeutics, Inc. (NASDAQ: NEOT;
NEOTW) announced today that its functional genomics subsidiary, NeoGene
Technologies, has entered into a Drug Pfinder Agreement with Pfizer Inc (NYSE:
PFE). Under the terms of the agreement, NeoGene will receive an initial payment
and milestone payments on potential products.
"NeoGene Technologies has been created to promote the pharmaceutical
value of our research findings", stated Olivier Civelli, Ph.D., Principal
Investigator for NeoGene Technologies. "This is our first success in that
direction and it is achieved with one of the largest pharmaceutical companies in
the world. To be accepted as Pfizer's partner represents a true boost to our
vision of using the natural ligands of orphan receptors as novel pharmaceutical
targets."
"This is an important step for NeoGene Technologies", stated Alvin J.
Glasky, Ph.D., President of NeoGene Technologies. "This transaction with Pfizer,
demonstrates the significant value of the work that Dr. Civelli and his team are
doing at NeoGene, and we plan to further demonstrate this value through
additional license agreements. NeoGene's scientific team leads the world in the
identification of orphan receptors, which represent very valuable tools for
developing new drug candidates."
NeoGene's expertise relates to the largest family of receptors in the
human body called the G-protein-coupled receptors (GPCRs). The GPCRs direct many
of the physiological functions that are of pharmaceutical interest. Since about
half of the drugs that are marketed at present act on GPCR's, the Company
expects that many drugs in the future will act on unknown GPCR's or "orphan"
receptors. NeoGene has placed itself at the forefront of future pharmaceutical
research in its efforts to identify the function of the approximately 140
remaining orphan receptors.
NEOTHERAPEUTICS is a biopharmaceutical company focused on the development of
drugs for unmet medical needs. The Company's most advanced drug, Neotrofin(TM),
is currently being developed for Alzheimer's disease and other neurodegenerative
diseases, such as Parkinson's disease and spinal cord injury. NEOGENE
TECHNOLOGIES, INC., a subsidiary of NeoTherapeutics, is engaged in functional
genomics research. A second subsidiary, NEOONCORX, INC., is engaged in the
development of anti-cancer drugs. For additional Company information, visit
NeoTherapeutics' web site at www.neotherapeutics.com.
This press release may contain 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
are described in further detail in the Company's reports filed with the
Securities and Exchange Commission.
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BULLETIN!! BULLETIN!!
NeoTherapeutics will hold a telephone conference call on Tuesday, March 20, 2001
starting at 11:00 A.M. (EST). Alvin J. Glasky, Ph.D., Chairman and Chief
Executive Officer; Rajesh Shrotriya, M.D, President; and, Sam Gulko, Senior Vice
President Finance and Chief Financial Officer, will discuss issues and answer
questions relating to this news release, fourth quarter earnings and milestones
for 2001. Those wishing to participate should call 888-552-7850 at approximately
10:50 A.M. (EST) . A REPLAY OF THIS CONFERENCE CALL WILL be available on the
Company's website at www.neotherapeutics.com.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NEOTHERAPEUTICS, INC.
Date: March 19, 2001 By: /s/ Samuel Gulko
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Name: Samuel Gulko
Title: Chief Financial Officer
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