Article: NEWBIOTICS/ELAN TO DEVELOP COLON CANCER TREATMENT.

NewBiotics Inc. and Elan Corp., plc (NYSE: ELN), have formed a joint venture to develop and commercialize NewBiotics' lead compound, NB1011, to treat cancer in the United States, Canada and Europe. The initial focus of NB1011 will be on treating patients with colorectal cancer who have not responded well to standard chemotherapy.

As part of the agreement, Elan has made an equity investment in NewBiotics and gained the opportunity to negotiate commercialization rights to NB1011 for cancer treatment in the United States, Canada and Europe. In addition, the joint venture will receive certain rights to utilize Elan's NanoCrystal(TM) technology.

"We are ...

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