Research with Japanese Pharmaceutical Giant Results in New Biotech Company

Edmonton, AB August 13, 1999-- A 14-year collaborative biotechnology research agreement between an Edmonton-based researcher and a Japanese pharmaceutical giant has resulted in the creation of a new biotechnology firm, NAEJA Pharmaceutical Inc.

The company was spun out under the stewardship of Dr. Ronald G. Micetich based on a joint venture with Japan's Taiho Pharmaceutical Co., Ltd. to test treatments of infectious diseases and anticancer agents. The joint venture saw the creation of SynPhar Laboratories and marked the first time a Japanese pharmaceutical company established a research firm in Canada.

"This is a time of mixed emotions for me," says Dr. Micetich. "Our relationship with Taiho Pharmaceutical has been highly productive. But both parties realized that increased independence would be necessary for us to carry out our research more effectively. So the creation of NAEJA is more of a birth than a separation for me."

Taiho Pharmaceutical and SynPhar have agreed to roll over all of the intellectual property and research equipment to NAEJA. The new company will continue to operate in Edmonton and keep the research staff intact.

"It was very important for us to have continuity with our research and with our people," explains Dr. Micetich. "Over the years, we have formed a world-class team of researchers and an impressive number of research milestones. It will still be business as usual for us as we continue to secure strategic alliances with other pharmaceutical firms around the world. Only the sign above the door will change."

NAEJA researchers continue to focus on the development of new antibiotic and antifungal compounds at the investigational new drug and early clinical stages. The company boasts a large advanced portfolio of lead antiinfective drug candidates and numerous leads as protease inhibitors for various diseases.

For more information, contact:

Christopher Micetich
Vice President and Chief Operating Officer
Phone (780) 462-4044