SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------------
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): May 23, 1999
SYNAPTIC PHARMACEUTICAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-27324 22-285-9704
(Commission File Number) (I.R.S. Employer Identification No.)
215 College Road
Paramus, New Jersey 07652-1431
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (201) 261-1331
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Item 5. Other Events.
Pursuant to the Option and License Agreement dated as of March 2, 1998,
between Synaptic Pharmaceutical Corporation (the "Company") and Glaxo Group
Limited ("Glaxo"), the Company granted Glaxo (i) a nonexclusive license under
the Company's alpha 1 adrenergic receptor patents to develop and sell alpha-1a
selective compounds for therapeutic applications other than the treatment of
benign prostatic hyperplasia ("BPH") and (ii) until May 22, 1999, a nonexclusive
license under its alpha 1 adrenergic receptor patents and its patents covering
the use of certain alpha- 1a antagonists for the treatment of BPH (the "BPH use
patents") to develop but not to commercialize alpha-1a selective compounds for
the treatment of BPH. In addition, the Company granted Glaxo an option (the
"Option") to obtain a nonexclusive license under its alpha 1 adrenergic receptor
patents and its BPH use patents to develop and commercialize alpha-1a selective
compounds for the treatment of BPH. On May 23, 1999, the Option, which was not
exercised by Glaxo, expired. As a consequence, Glaxo does not have any rights
under the Company's alpha 1 adrenergic receptor patents or its BPH use patents
to develop or commercialize alpha-1a selective compounds for the treatment of
BPH.
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SIGNATURES
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.
Date: May 24, 1999
SYNAPTIC PHARMACEUTICAL CORPORATION
(Registrant)
By:/s/ Kathleen P. Mullinix
--------------------------------
Name: Kathleen P. Mullinix
Title: Chairman, President and
Chief Executive Officer
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