Depomed, INC. Announces a Rresearch Agreement with the R.W. Johnson Ppharmaceutical Research Institute
FOSTER CITY, CA - March 4, 1998 - DepoMed, Inc. (Nasdaq: DPMD) announced that it has entered into a research collaboration with the R. W. Johnson Pharmaceutical Research Institute (PRI), a Johnson & Johnson unit, to study the feasibility of an orally administered, controlled release pharmaceutical product using DepoMed's Gastric Retention System. Under the terms of the agreement, neither the current PRI product to be incorporated into DepoMed's system, its pharmaceutical indications, nor the financial details of the agreement were disclosed.
DepoMed, Inc., a development stage company, is engaged in the development of new and proprietary oral drug delivery technologies. The Company has developed two types of proprietary oral drug delivery systems, the Gastric Retention System, designed to be retained in the stomach for an extended period of time while it delivers the incorporated drug or drugs, and the Reduced Irritation System, designed to reduce gastrointestinal irritation, a side effect of many orally administered drugs.
The statements in this press release that are not historical facts are forward-looking statements that involve risk and uncertainties, including risks associated with the development of products, technological changes, FDA and other regulatory approvals, dependence on and need for collaborative partners, competition, uncertainty relating to patent and proprietary rights and other risks identified in the Company's registration statement on Form SB-2 (File No. 333-25445) and quarterly report on Form 10-Q, filed with the Securities and Exchange Commission. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue relevance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated events.
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