PolyTherics and Alligator Bioscience Announce Strategic Collaboration

London, UK, and Lund, Sweden, 16 June 2008. PolyTherics Ltd (“PolyTherics”), a biopharmaceutical company specialised in the targeted application of polymers to biopharmaceuticals, and Alligator Bioscience AB (“Alligator”), a biotechnology company applying proprietary technology to the improvement of proteins, today announced the establishment of a new alliance.

Under the terms of the collaboration agreement, PolyTherics and Alligator will explore the biological effects of the polymer-based technologies developed by PolyTherics on proteins optimized and provided by Alligator. The parties intend to use the intellectual property generated by their collaboration to explore the development and commercialization potential of next generation protein-based products. No further details were disclosed.

Dr Keith Powell, Chief Executive Officer of PolyTherics, said: “A key element of PolyTherics’ business strategy is to exploit our proprietary technologies in expanding the product potential of proteins. We have developed and continue to develop technologies to improve every type of protein therapeutic; from antibody fragments to enzymes, both natural and improved. We are excited by the prospects for this collaboration with Alligator and our shared vision of exploring next generation biopharmaceuticals.”

Dr Gun-Britt Fransson, Chief Executive Officer of Alligator, commented: “The collaboration with PolyTherics supports Alligator’s strategy to further expand its pipeline with optimised drug candidates into new areas of indications. We are excited to see the outcome of combining the two companies technologies.”