NovaDel CEO Interviews on Wall Street Reporter
20 April 2004 - 12:50AM
PR Newswire (US)
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/
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