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News Release

FOR IMMEDIATE RELEASE
December 12, 1996

Eisai Licenses Antifungal Triazole to Bristol-Myers Squibb

Eisai Co., Ltd. (headquarters: Tokyo, president: Haruo Naito) concluded a license agreement with Bristol-Myers Squibb Company (headquarters: New Jersey, president and CEO: Charles A. Heimbold, Jr.) for Eisai's ER-30346, a broad-spectrum antifungal triazole.


Under the terms of agreement, Bristol-Myers Squibb obtains an exclusive license for the world to develop and market ER-30346, except for Japan where Bristol-Myers Squibb has a semi-exclusive license with Eisai. Bristol-Myers Squibb will provide up-front and milestone payments to Eisai as well as royalty payments after marketing.


ER-30346 is a broad-spectrum antifungal triazole discovered and synthesized by Eisai for treatment of systemic fungal infections such as candidiasis, aspergillosis and cryptococcal meningitis. Preliminary data suggest that ER-30346 shows clear advantages over currently used triazoles including fluconazole. ER-30346 shows a promising advance in antifungals for the treatment of immunocompromised patients such as those with AIDS, or cancer, and organ transplant patients, who are at risk for developing serious fungal infections.


Bristol-Myers Squibb is a diversified worldwide health and personal care company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices. It is a leading maker of innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatological disorders, and cancer. The company is also a leader in consumer medicines, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products.


Eisai Co., Ltd. is a research-based human health care company which discovers, develops and markets products in more than 30 countries. Through its global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide health care systems. The company reported sales of over $2.5 billion in fiscal year 1995 with approximately 14 percent of sales spent for research and development.