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Companies Enter Multi-year Agreement to Research and Develop Nitric Oxide Based Medicines 
BEDFORD, MA January 7, 2003 NitroMed, Inc. today announced that they have formed a multi-year research collaboration with a subsidiary of Merck & Co., Inc. (NYSE:MRK) to develop nitric oxide (NO) based medicines. "This collaboration allows us to leverage the strength of our proprietary and broad technology platform, NitRx™ with Merck's proven research and development programs," said Michael D. Loberg, Ph.D., Chief Executive Officer of NitroMed. "We are very excited about the research and commercial prospects that can be developed with our combined expertise. Merck has been a pioneer and a leader in drug discovery and research and we appreciate that this collaboration recognizes the value of our research programs." Although specific details of the agreement were not disclosed, the collaboration is based on NitroMed's strong research program that has made significant progress in the proprietary synthesis of NO-based medicines. NitroMed will benefit from Merck's investment in its research program. The agreement secures multi-year funding for scientists and equipment. Merck has agreed to pay an up-front fee, certain research-based milestones, and royalty payments. Merck will provide the commercialization expertise in the partnership. Dr. Loberg commented, "Collaborative partnerships are a key element of our business strategy. We have a strong research program that is making significant progress in the proprietary synthesis of NO-derived medicines. Our alliance with Merck underscores our commitment to maximize and optimize the discovery and commercialization process necessary to bring safe and effective NO-derived medicines to people."About NitroMed, Inc. NitroMed, Inc. is a private biopharmaceutical company pioneering the development and commercialization of nitric oxide (NO)-enhanced medicines. The Company has developed a broad technology platform, NitRx™, for delivering therapeutically active NO, a well-known mediator of biological functions. Using this platform, the Company has developed a diverse pipeline of novel NO-based molecules, as well as existing medicines enhanced with NO-donors. NitroMed's clinical areas of focus for its NO-enhanced medicines are based on the treatment and/or prevention of cardiovascular disease and inflammatory diseases. The Company's most advanced stage product is BiDil®, a drug designed to improve survival in African Americans with heart failure. BiDil is a combination drug containing isosorbide dinitrate and hydralazine hydrochloride. A pivotal confirmatory trial, in 600 African American men and women called A-HeFT™ is on-going and results are expected in early 2004. It has been estimated that 5 million Americans have heart failure. About 725,000 of those are African Americans. Research has demonstrated that African American patients are twice as likely as white patients to suffer from heart failure. In addition, death rates from heart failure are more than twice as high in African American patients than in white patients. This disparity in outcomes is attributed to many factors, including a pathophysiology found primarily in African American patients that may involve nitric oxide (NO) insufficiency arising from either reduced NO production, enhanced NO inactivation or both. BiDil may work by restoring depleted NO levels and by protecting the NO that is formed naturally in the vascular endothelial cells of these patients. For additional information about NitroMed, please consult www.nitromed.com. |
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Copyright ©2007 Rho Capital Partners, Inc.