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Nostrum Pharmaceuticals Obtains Worldwide Licensing Rights From IMTECH for Clinical Development of the Small Molecule Caerulomycin and Its Proprietary Derivatives for Their Novel Indication of Immunosuppression
Date:2/23/2009

EDISON, N.J., Feb. 23 /PRNewswire/ -- Nostrum Pharmaceuticals, LLC ("Nostrum"), a privately-held company based in Edison, New Jersey, announced today that it has obtained a worldwide license to develop and commercialize Caerulomycin A, and its proprietary derivatives and analogues ("Caerulomycin") for their novel indication of immunosuppression. The license was obtained from Institute of Microbial Technology ("IMTECH"), Chandigarh, India, one of India's preeminent research institutes, governed by the national government's Council of Scientific and Industrial Research ("CSIR").

Nostrum's President and founder, Dr. Nirmal Mulye, Ph.D., expressed his appreciation for the continued efforts by IMTECH and Nostrum's Symmetrix subsidiaries to pursue development of novel biopharmaceutical therapeutic protein drugs, including Caerulomycin and a clot busting protein known as Clot Specific Streptokinase obtained earlier pursuant to license from IMTECH. Dr. Mulye stated that, "our collaborative work with IMTECH in the clinical development of these therapeutic proteins has been ongoing since 2006 and offers a substantial commercial potential for these products in the market worldwide."

Dr. Yatindra Prashar, Ph.D., President and CEO of Nostrum's subsidiary Symmetrix Pharmaceuticals, LLC, based in Edison, NJ, and parent of Singapore-based Symmetrix Biotech Pvt. Ltd. (collectively "Symmetrix"), was principally responsible for reaching the new license agreement with IMTECH. Dr. Prashar emphasized that, "This novel bioactivity of Caerulomycin has shown remarkable promise in immunosuppression of both T-cells and B-cells in both in-vitro experiments and in rodent animal model studies. In addition, preliminary studies carried out by IMTECH also show a lack of toxicity in the rodent experiments. Based on these observations made by IMTECH's scientists, Caerulomycin has a potential to develop into a blockbuster drug to be used to prevent
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SOURCE Nostrum Pharmaceuticals, LLC
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