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Executive Summary

Agreement to develop and market neurological agent NPS 1776 signed with NPS Pharmaceuticals. NPS 1776 is an alifatic amide with structural similarities to valproic acid (Abbott's Depakote) that may be used to treat bipolar mood disorder and epilepsy. "NPS 1776 has pharmacologically significant structural distinctions that will provide a better safety profile in comparison to valproic acid such as lack of birth defect potential and liver damage," NPS' March 20 SEC filing states. NPS has completed two Phase I safety and tolerability trials on NPS-1776, the company said

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