Nastech Reacquires Teriparatide (Parathyroid Hormone; PTH1-34) Nasal Spray from Procte...( Company Will Advance Product into P...),Health

Company Will Advance Product into Phase 2 Bone Mineral Density Study in

1Q08

BOTHELL, Wash., Nov. 7 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical Company Inc. (Nasdaq: NSTK) announced today that it has reacquired the rights to teriparatide (Parathyroid Hormone; PTH1-34) nasal spray for the treatment of osteoporosis from its collaboration partner, Procter & Gamble Pharmaceuticals, Inc. The reacquisition follows notification on Nov. 6, 2007, of Procter & Gamble's decision to terminate the development and commercialization agreement for PTH1-34 Nasal Spray.

Nastech will immediately advance PTH1-34 Nasal Spray into a Phase 2 clinical study to evaluate the change in bone mineral density, which the FDA has previously indicated will be the primary endpoint for approval.

"Nastech's technology enabled the delivery of a novel, patient-friendly teriparatide nasal spray formulation that produced statistically significant changes in biomarkers of both bone growth as well as resorption," stated Steven C. Quay, M.D., Ph.D., Chairman, President and CEO of Nastech. "Academic experts in both nasal delivery and osteoporosis who were given the opportunity to review the data under confidentiality all came to the same conclusion: A Phase 2 efficacy study with bone mineral density as the endpoint is the appropriate next step in clinical development. Although we are disappointed with P&G's decision, we remain confident that, as the only approved anabolic drug for osteoporosis, PTH is a very important therapeutic. Therefore, we plan to conduct a Phase 2 clinical study in patients with osteoporosis to examine the effect of PTH1-34 Nasal Spray on bone mineral density with patient enrollm
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