ARIAD Announces Collaboration With Medinol

ARIAD Pharmaceuticals has entered into nonexclusive agreements with Medinol to develop and commercialize stents and other medical devices to deliver ARIAD's mTOR inhibitor, AP23573, to prevent reblockage of injured vessels following stent-assisted angioplasty.

ARIAD will be responsible for supplying AP23573 to Medinol, and Medinol will be responsible for the development and commercialization of the medical devices delivering AP23573. ARIAD has retained the right to enter into two additional nonexclusive agreements to develop and commercialize AP23573 in drug-delivery devices for vascular disease. Additional terms were not disclosed.

Under a 2002 agreement, Medinol and W.L. Gore are collaborating to develop innovative stenting solutions that incorporate key features of their respective technologies -- metal stents, polymer formulations and advanced delivery systems. Medinol may now utilize ARIAD's drug, AP23573, with these combined technologies. Medinol's stents are also marketed and distributed worldwide by Gore.