PDT Inc. and Pharmacia sign supply agreements

Business Wire, Sept 13, 1995

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Sept. 13, 1995--PDT Inc. (NASDAQ:PDTI) and Pharmacia S.p.A., Italian subsidiary of Pharmacia AB (NASDAQ:PHARY), Wednesday signed two supply contracts that support the recent license agreement under which Pharmacia acquired the rights to PDT's leading drug, tin ethyl etiopurpurin (SnET2).

The first agreement specifies the terms under which PDT will supply SnET2 to Pharmacia for the ongoing clinical development and through to the commercial marketplace. Under the second agreement, PDT will manufacture and supply medical light devices to Pharmacia for use with SnET2.

Gary S. Kledzik, Ph.D., chairman and chief executive officer, stated, ``These agreements are an important part of the strategic planning process between PDT and Pharmacia for the continued development and eventual commercialization of SnET2.''

Pharmacia ranks among the world's largest pharmaceutical companies and has leading positions in many therapeutic areas, including oncology. In July 1995, Pharmacia acquired an exclusive license to develop and market SnET2 in exchange for development funding, milestone payments and royalties to PDT.

PDT, which completed its initial public offering in April 1995, develops pharmaceuticals and devices for the medical technology known as photodynamic therapy. Photodynamic therapy uses light- activated drugs to treat or diagnose diseases in a variety of categories, including cancer, cardiology, urology, dermatology, ophthalmology and gynecology.

CONTACT: PDT Inc., Santa Barbara

Laurens Lichty or Jan Wiegand, 805/685-9880

or

Paine & Associates, Costa Mesa, Calif.

Paul Wood or Heidi Boenisch, 714/755-0400