Repros Therapeutics Looks to License Proellex

THE WOODLANDS, Texas -- September 29, 2009 -- Repros Therapeutics (NasdaqGM:RPRX) announced on Tuesday that the company plans to try to license Proellex to another company.

In August 2009, Repros voluntarily suspended dosing of all patients in its clinical trials due to the observation of increased liver enzymes in a number of patients treated with Proellex and the FDA placed a clinical hold on the drug for safety reasons.

In a meeting with the FDA on September 23, the FDA outlined steps to further develop the drug and expressed doubt that Proellex would be safe at any dosage.

In a statement, Repros advised that the scope and magnitude of a continued study would require significant investment beyond the company's current abilities and that licensing Proellex would represent the greatest shareholder benefit going forward.

Dr. Stephen Howell, member of the Repros Board of Directors and acting Medical Director for Oncology, resigned from his position on the Board as well as his consultancy.