Vista Partners Updates Coverage on Pro-Pharmaceuticals, Inc.; Maintains Target Price of $2.10

SAN FRANCISCO, Dec. 23, 2010 /PRNewswire/ -- Vista Partners announced today that it has updated coverage on Pro-Pharmaceuticals, Inc. (OTC Bulletin Board: PRWP) ("the Company") and maintains its twelve month target price to $2.10. Ross Silver, Principal Analyst at Vista Partners, stated, "DAVANAT®, the Company's lead product candidate, could potentially enhance the efficacy of already approved oncology drugs, such as Avastin®, while also reducing the side effect profile of these drugs. By doing so, patients potentially will live longer and live better and the cost of treatment could be reduced significantly." Mr. Silver goes on to state, "The Company has stated that development of its GR series of compounds, novel carbohydrate compounds intended to treat liver fibrosis, will commence in January 2011. The Company recently entered into a research agreement with the premier liver disease expert in the U.S., Dr. Scott Freidman, at Mt. Sinai Hospital in New York. Liver disease is considerable and according to the American Liver Foundation, more than 25 million Americans are or have been afflicted with liver and biliary diseases."

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About Vista Partners:

Vista Partners LLC was founded in 2005 and has offices in California and one in Oregon. We are a Registered Investment Advisor in the States of California and Oregon. Our professional staff has backgrounds in finance, corporate communications and investment banking. Vista Partners has built a name for itself in the small cap space due to its selection of profitable investment ideas.

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SOURCE Vista Partners