SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 (Date of earliest event reported) SEPTEMBER 23, 1996
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SPARTA PHARMACEUTICALS, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
DELAWARE 0-23076 56-1755527
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
111 ROCK RD. HORSHAM, PA 19044
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES (ZIP CODE)
Registrant's telephone number, including area code (215) 442-1700
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not applicable.
ITEM 5. OTHER EVENTS
Press Release, dated as of September 23, 1996, announcing that the
United States Patent and Trademark Office has granted United States
Patent #5,550,139 submitted by Dr. William C. Groutas of Wichita
State University.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not applicable.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Sparta Pharmaceuticals, Inc.
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Not applicable.
(b) Pro Forma Financial Information
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Not applicable
(c) Exhibits
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99.10 -- Press Release, dated as of September 23, 1996,
announcing that the United States Patent and Trademark
Office has granted United States Patent #5,550,139
submitted by Dr. William C. Groutas of Wichita State
University.
<PAGE>
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
SPARTA PHARMACEUTICALS, INC.
September 25, 1996 By: /s/ Jerry B. Hook
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Date Jerry B. Hook, Ph.D. President,
Chief Executive Officer & Director
(principal executive officer)
<PAGE>
EXHIBIT INDEX
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Exhibit
Number Description Page
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99.10 --Press Release, dated as of September 23, 1996, 5
announcing the United States Patent and Trademark
Office has granted United States Patent #5,550,139
submitted by Dr. William C. Groutas of Wichita State
University.
CONTACTS: JERRY B. HOOK, PH.D. TRACY M. COFFEY
PRESIDENT & CEO EXECUTIVE ASSISTANT
SPARTA PHARMACEUTICALS, INC. SPARTA PHARMACEUTICALS, INC.
(215) 442-1700, EXT. 205 (215) 442-1700, EXT. 222
FOR IMMEDIATE RELEASE
SPARTA PHARMACEUTICALS, INC. AND WICHITA STATE UNIVERSITY ANNOUNCE PATENT
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APPROVAL FOR TWO NOVEL CLASSES OF SERINE PROTEASE INHIBITORS
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HORSHAM, PA, SEPTEMBER 23, 1996 -- SPARTA PHARMACEUTICALS, INC. (NASDAQ: SPTA,
SPTAU, SPTAW AND SPTAZ) today announced that the United States Patent and
Trademark Office has granted United States Patent #5,550,139 submitted by Dr.
William C. Groutas of Wichita State University.
Through a Sparta funded grant, Dr. Groutas has created two novel
classes of serine protease inhibitors. According to Dr. Jerry B. Hook,
President and Chief Executive Officer of Sparta, "These classes of serine
protease inhibitors are compounds with tremendous potential to treat many
debilitating and life threatening diseases, for which little or no effective
treatments are currently available, such as: asthma, emphysema, cystic fibrosis,
bronchitis, colitis, psoriasis, sepsis and other inflammatory states." Sparta
has been granted an exclusive, worldwide license to develop and commercialize
these compounds for human therapeutic use.
"I am extremely encouraged by the preliminary laboratory results, and
am looking forward to Sparta's efforts to bring these compounds into preclinical
disease studies and clinical development," said Dr. Groutas. "There have been
very promising preliminary results in vitro, such as the potency and specificity
of the various compounds. The molecules are readily modified to tailor
specificity for a defined target enzyme. With this in mind, we expect low
toxicity and therefore fewer side effects."
This press release contains certain forward-looking statements within
the meaning of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are made based on management's current
expectations and beliefs, and actual results may vary from those currently
anticipated based upon a number of factors, including uncertainties inherent in
the drug development process, including clinical trials. The Company undertakes
no obligation to release publicly any revisions which may be made to reflect
events or circumstances after the date hereof.
Sparta Pharmaceuticals, Inc. is a development stage pharmaceutical
company engaged in the business of acquiring the rights to, and developing for
commercialization, technologies and drugs for the treatment of a number of life
threatening diseases, including cancer, cardiovascular disorders and acute
inflammatory diseases.
