Brane Discovery Srl Commences Phase I Trial of BND-11624 for Neuropathic and Osteoarthritic Pain

Gerenzano (Italy), November 27th, 2007 - Brane Discovery, a newly formed specialty pharmaceutical company focused on the development of novel CNS therapies, today announced that it is conducting a Phase I clinical trial for its lead compound BND-11624, a novel pyrrolidinone derivative aimed at the treatment of neuropathic pain associated with a number of indications including antiviral therapy and osteoarthritis.

The study is a double-blind, placebo-controlled, single ascending dose trial which commenced in early November in Switzerland with the approval of the Swiss National Ethics Committee (SwissMedic). At study completion, 24 healthy volunteers will have been treated, to evaluate safety, tolerability and pharmacokinetics of three different dosages of BND-11624. Administration of the first dose has been completed in all volunteers with excellent tolerability.

"This is the first of a series of candidate drugs that Brane Discovery plans to take in to clinical development. We plan to make Brane into a fully fledged CNS company status within a few years, taking advantage of our promising projects in multiple sclerosis, Parkinson’s and Alzheimer’s Diseases." said Carlo Farina, CEO of Brane.

“The excellent safety and tolerability profile of BND-11624, together with its remarkable spectrum of anti-pain activity in animal models, makes it a likely major addition to the treatment of several neuropathic pain syndromes, particularly in the elderly" added Ruggero G. Fariello, MD, Chief Scientific and Medical Officer of Brane.

Brane Discovery plans to perform a second Phase I repeated-dose trial in Q1 2008, and to start the first Phase II study in HIV patients by Q3 2008. A second indication Phase II study (osteoarthritis-induced pain) should follow after successful clinical PoC in HIV patients, by mid 2009.

About Brane Discovery Srl

Brane Discovery Srl is a private specialty pharmaceutical company focused on the development of novel CNS therapies. The Company is based in Milan, Italy and has a portfolio of preclinical products addressing Parkinson’s Disease, Neuropathic Pain and other CNS Disorders. Brane was originally created through the spin out of proprietary R&D programmes from the CRO NiKem Research in April 2007. More information on Brane Discovery can be found at: www.branediscovery.com

Further Enquiries:

Pamela Mariani

Brane Discovery Srl

t: +39 02 96474560

e: pamela.mariani@branediscovery.com Dr Douglas Pretsell

Northbank Communications, now College Hill Life Sciences

t: +49 (0)89 57 00 1806

e: douglas.pretsell@collegehill.com