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NovaDel CEO Interviews on Wall Street Reporter
First FDA Approval Filing to Occur Within Next Two Months; Five Tier One Drugs
Entering Proof of Concept Studies
FLEMINGTON, N.J., April 19 /PRNewswire-FirstCall/ -- Gary A. Shangold, MD,
president and chief executive officer of NovaDel Pharma Inc. (OTC Bulletin
Board: NVDL) told http://www.wallstreetreporter.com/ viewers that the company
will be filing for US FDA approval of its first drug within the next two
months, and that feasibility studies of five more drug candidates are
progressing on schedule with data from pilot clinical pharmacokinetic studies
coming in over the course of the next several months.
In an interview aired last Friday, the former Johnson & Johnson executive said
the company's first product candidate for approval, lingual spray
nitroglycerin, will validate the company's lingual spray technology and help
advance commercial discussions with partners for its other lead products.
NovaDel's patented lingual spray technology provides a convenient, non-invasive
way to make drugs better and safer.
The technology produces more rapid onset of action and has the potential to
significantly reduce first pass liver toxicity.
Patients self-administer the products just as they would a breath freshener.
The company's technology is seen as especially important for innovator
companies whose drugs are coming off patent and the possibility exists to
create a new formulation to reduce competitive erosion of a hard earned
franchise.
Dr. Shangold said NovaDel's lingual spray technology could create new benefits,
while protecting an innovator's existing market. He cited the attraction of
faster acting versions of the popular sleep aid Ambien(R) (Sanofi) and the
leading migraine drug Imitrex(R) (Glaxo), a triptan, as examples.
Lingual spray versions of those two products would have clearly distinguishable
advantages over the current products, which are facing relatively near term
patent expirations.
"NovaDel intends to excel in product life cycle management for the benefit of
our customers -- whether they be the franchise protectors or the franchise
builders," said Dr. Shangold. "Either way, our lingual spray offers a
distinctive set of product enhancements that will translate into premium
benefits for patients."
Dr. Shangold said the company's cash position will enable it to complete
current programs well into 2005.
To hear the full interview visit http://www.wallstreetreporter.com/.
About NovaDel Pharma Inc.
NovaDel Pharma Inc. is a specialty pharmaceutical company engaged in the
development of novel drug delivery systems for prescription and over-the-
counter drugs. The Company's proprietary lingual spray technology delivery
system offers the patient (i) fast onset of action; (ii) improved drug safety
by reducing the required drug dosage and reducing side effects; (iii) improved
patient convenience and compliance; and (iv) enhanced dosage reliability. The
Company plans to develop such products independently and through collaborative
arrangements with major pharmaceutical and biotech companies.
Except for historical information contained herein, this document contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements involve known and unknown risks
and uncertainties that may cause the Company's actual results or outcomes to be
materially different from those anticipated and discussed herein including, but
not limited to, the ability to develop products (independently and through
collaborative arrangements), and the ability to commercialize and obtain
approval for products under development. Further, the Company operates in
industries where securities may be volatile and may be influenced by regulatory
and other factors beyond the Company's control. Important factors that the
Company believes might cause such differences are discussed in the risk factors
detailed in the Company's most recent Annual Report and Registration
Statements, filed with the Securities and Exchange Commission. In assessing
forward-looking statements contained herein, if any, the reader is urged to
carefully read all cautionary statements contained in such filings.
Contact:
Barry C. Cohen
VP Business & New Product Development
908 782-3431 x 2160
NovaDel Pharma Inc.
Thomas Redington
203 222-7399
212 926-1733
DATASOURCE: NovaDel Pharma Inc.
CONTACT: Barry C. Cohen, VP Business & New Product Development, NovaDel
Pharma Inc., +1-908-782-3431, ext. 2160; Thomas Redington, +1-203-222-7399,
+1-212-926-1733, , for NovaDel Pharma Inc.
Web site: http://www.wallstreetreporter.com/