Peptide, Allergan deal

PTD (Dee Why, Australia) and Allergan will develop PTD's glucosyl murimyl dipeptide (GMDP) to treat psoriasis. Allergan will purchase $2 million of PTD stock. PTD has 95 million shares outstanding prior to the investment.

GMDP has completed two Phase II psoriasis trials and the deal calls for PTD to conduct a third Phase II study in 1995-96 after which Allergan will be responsible for development. ...