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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 Exchange Act of 1934
DATE OF REPORT - APRIL 15, 1998
(Date of earliest event reported)
ALKERMES, INC.
(Exact name of Registrant as specified in its charter)
PENNSYLVANIA 0-19267 23-2472830
(State of incorporation) (Commission file number) (IRS employer
identification
number)
64 SIDNEY STREET, CAMBRIDGE, MASSACHUSETTS 02139
(Address of principal executive offices, zip code)
AREA CODE (617) 494-0171
(Telephone number)
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ITEM 5. OTHER INFORMATION.
On April 15, 1998, the Company issued a press release, a copy of which is
attached as Exhibit 99 to this Current Report on Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99 Press Release, dated April 15, 1998
2
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SIGNATURES
Pursuant to requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Dated: April 15, 1998 Alkermes, Inc.
By: /s/ Michael J. Landine
---------------------------------
Michael J. Landine
Senior Vice President and Chief
Financial Officer
3
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ALKERMES, INC.
CURRENT REPORT ON FORM 8-K
EXHIBIT INDEX
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Exhibit No. Exhibit
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99 Press Release, dated April 15, 1998
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Alkermes News Release
For Immediate Release
ALKERMES AND ALZA ANNOUNCE AGREEMENT FOR TWO ORAL DRUG DELIVERY TECHNOLOGIES
CAMBRIDGE, MA and PALO ALTO, CA, April 15, 1998 -- Alkermes, Inc. (Nasdaq: ALKS)
and ALZA Corporation (NYSE:AZA) today announced that they have agreed to enter
into an exclusive license agreement for two of ALZA's oral drug delivery
technologies: RingCap(TM) and Dose Sipping Technology.
Under this arrangement, Alkermes will gain worldwide rights to the two
technologies and will be responsible for the continued research and development
of products incorporating them. ALZA will receive upfront payments from Alkermes
and a portion of Alkermes' revenues from the development and commercialization
of products incorporating the technologies. ALZA will also have the option to
acquire exclusive worldwide commercialization rights to certain potential
products in therapeutic areas where ALZA has a marketing interest.
"These two technologies provide Alkermes with an excellent entry into the oral
drug delivery business," said Richard F. Pops, chief executive officer of
Alkermes. "Our goal is to continue the high quality work initiated by ALZA and
demonstrate the value of the technologies in the marketplace."
"This agreement expands the partnership between ALZA and Alkermes, and allows
ALZA to leverage the value of our drug delivery technologies while maintaining
access to future pharmaceutical products that may fit with our current
commercial strategy," said Dr. Ernest Mario, ALZA's chairman and chief executive
officer. "ALZA scientists continue to create more drug delivery innovations than
we can possibly commercialize. I believe that this co-operative effort with
Alkermes, an emerging drug delivery company in which we hold a significant
equity interest, will result in an acceleration of the development of these ALZA
technologies."
ALZA's RingCap(TM) systems incorporate several insoluble polymeric rings around
a matrix tablet, controlling the erosion of the tablet and modulating the
release of drug in the gastrointestinal tract. Unlike currently available matrix
tablets, which release decreasing amounts of drug over time, RingCap(TM) systems
are designed to deliver the total dose evenly over an extended period.
ALZA's Dose Sipping Technology provides a convenient, simple way to administer
medication to patients who have difficulty swallowing conventional tablets or
capsules and has the ability to deliver large doses of compounds. Fluids are
drawn through a straw-like tube by the patient and simultaneously mixed with the
drug compound allowing precise, individual dosing of granulated compounds,
including "sprinkle" formulations for children.
In October 1997, Alkermes and ALZA announced an agreement to develop and
commercialize Cereport(R) (RMP-7) for facilitating drug delivery to the brain.
Previously, in February 1997, ALZA acquired two million shares of Alkermes'
common stock.
ALZA Corporation, headquartered in Palo Alto, CA, is an emerging pharmaceutical
company with leading drug delivery technologies. The company applies its
delivery technologies to develop pharmaceutical products with enhanced
therapeutic value for its own portfolio and for many of the world's leading
pharmaceutical companies. ALZA's sales and marketing efforts are currently
focused in urology and oncology.
Alkermes, Inc. is a leader in the development of products based on sophisticated
drug delivery technologies. Alkermes' focus is on two important drug delivery
opportunities: controlled, sustained release of injectable drugs lasting several
days to several weeks; and the delivery of drugs into the brain past the
blood-brain barrier. In addition to its Cambridge, Mass. headquarters, Alkermes
operates a manufacturing facility in Ohio and a medical affairs office in
Cambridge, England.
To the extent any statements made in this release deal with information
that is not historical, these statements are intended to be
forward-looking. Under the Safe Harbor provision of the Private
Securities Litigation Reform Act of 1995, the statements therefore are
subject to the occurrence of many events outside of Alkermes' and ALZA's
control and are subject to various risk factors that could cause
Alkermes' and ALZA's results to differ materially from those expressed
in the forward-looking statement. These risk factors are described in
Alkermes' and ALZA's reports on Form 10-K and 10-Q as filed with the SEC
and include, without limitation, the inherent risk of technical product
development failure, the risk of clinical outcomes, regulatory risks,
and risks related to proprietary rights, market acceptance and
competition.
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Contact: Investor Relations: ALZA Corp.
Richard F. Pops Burn McClellan Karen Bergman/Investor Relations
Alkermes, Inc. Lisa Burns/Investor Relations Anneke Cole/Media Relations
(617) 494-0171 Justin Jackson/Media Relations (650) 494-5222
(212) 213-0006
