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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
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Date of report (Date of earliest event reported) October 10, 2000
ALTEON INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-19529 13-3304550
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(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
170 Williams Drive, Ramsey, New Jersey 07446
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (201) 934-5000
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(Former Name or Former Address, If Changed Since Last Report)
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Item 5. Other Events
On October 10, 2000 Alteon Inc. issued the following press
release:
ALTEON PARTNERS WITH UNIVERSITY OF PITTSBURGH SPINOUT TO DEVELOP
NEW CARDIOVASCULAR THERAPY
--Novel Tissue Perfusion Technology Pioneered at McGowan Center
for Artificial Organ Development --
Ramsey, New Jersey, October 10, 2000 - Alteon Inc. (AMEX: ALT) announced today
that it has entered into an agreement with HemoMax, LLC, for the development of
a novel tissue perfusion technology for enhanced blood circulation. The
technology, also called HemoMax, was developed at the McGowan Center for
Artificial Organ Development at the University of Pittsburgh, and has recently
been licensed to HemoMax, LLC, so that formal preclinical development programs
can be initiated.
The HemoMax technology is focused on the restoration or enhancement of impaired
microcirculation and tissue oxygenation, an area where existing therapies have
had only limited results. Impaired microcirculation and low tissue perfusion
have been known to occur as a result of a variety of conditions, including
hemorrhage, severe trauma, ischemic heart disease, diabetes, acute myocardial
infarction, acute transient cerebral ischemic attack, sickle cell disease and
atherosclerosis.
Under the agreement, HemoMax, LLC will fund the preclinical development of
compounds arising from the technology, and Alteon will directly manage these
development programs. HemoMax has granted Alteon an exclusive right of first
refusal to acquire the HemoMax technology. In addition, Alteon will receive 15%
ownership of HemoMax, LLC.
"We are pleased to be involved in the preclinical development of this exciting
new technology, because it directly complements Alteon's cardiovascular
activities with ALT-711," said Kenneth I. Moch, President and CEO of Alteon.
"The data which has been generated thus far indicates that the HemoMax
technology may have broad clinical potential in the treatment of cardiovascular
diseases."
HemoMax, LLC has been funded by Three Rivers Medical Technologies, LLC, a seed
fund recently formed by Pittsburgh area investors to invest in early stage life
science technologies developed in Western Pennsylvania. The HemoMax technology
was developed at the McGowan Center for Artificial Organ Development at the
University
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of Pittsburgh.
About the McGowan Center
The University of Pittsburgh McGowan Center for Artificial Organ Development is
one of the world's most advanced academic programs investigating the use of
bioengineered organ devices for treating human illness and disease. HemoMax is
one of the novel technologies created at the McGowan Center. There is a
portfolio of engineered organ projects currently being researched at the McGowan
Center.
"The McGowan Center is at the intersection of the campus and the company," said
Dr. Griffith, McGowan Center Director, the Henry T. Bahnson Professor of Surgery
and Chief of Cardiothoracic Surgery at the University of Pittsburgh School of
Medicine. The Center officially began operation in 1992, bringing together a
number of the University of Pittsburgh's pioneering artificial organ activities.
McGowan Center investigators work closely with the leading device developers to
provide expertise in organ transplantation and bioengineering. As a result, more
heart-assist devices and artificial organs have been transplanted in Pittsburgh
than any other transplant center in the United States.
About Alteon
Alteon is a leader in the discovery and development of pharmaceuticals for the
treatment of cardiovascular and renal diseases and other disorders of diabetes
and aging, based on slowing or reversing a fundamental pathological process
caused by protein-glucose complexes called Advanced Glycosylation End-Products
(A.G.E.s).
A.G.E.s ultimately form crosslinks with adjacent proteins, leading to a loss of
flexibility and function in body tissues, organs and cells. This A.G.E. pathway
represents one of several pathological processes believed to be responsible for
aging, including regulation of telomere length, DNA turnover, and build-up of
senescent products, among others. A.G.E.s have been shown to be causative
factors in many of the complications of diabetes and age-related diseases,
including cardiovascular disease, kidney disease, nerve damage and retinopathy.
Alteon's unique approach is to inhibit or break A.G.E.s and their chemical
crosslinks.
Alteon's lead A.G.E. crosslink breaker, ALT-711, is in Phase IIa clinical
testing to evaluate its effect on cardiovascular compliance, with results from
this trial anticipated near year-end. Additional indications being evaluated
include non-obstructive uropathy, peritoneal dialysis and scleroderma. The
company is seeking a corporate partner to help fund the continued development
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of its A.G.E.-formation inhibitor, Pimagedine, based on the results of a Phase
II/III trial in Type 1 diabetic patients with progressive kidney disease. Alteon
is also pursuing the development of a novel series of glucose lowering agent
(GLA) compounds.
# # #
Any statements contained in this press release that relate to future plans,
events or performance are forward-looking statements that involve risks and
uncertainties including, but not limited to, those relating to technology and
product development, regulatory approval processes, intellectual property rights
and litigation, competitive products, ability to obtain financing, and other
risks identified in Alteon's filings with the Securities and Exchange
Commission. Actual results, events or performances may differ materially. Alteon
undertakes no obligation to publicly release the result of any revision to these
forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.
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*******
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.
Alteon Inc.
By: /s/ Kenneth I. Moch
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Kenneth I. Moch
Chief Executive Officer
Dated: October 18, 2000
