Establishment of Distinct Business Unit, Aptuit Consulting, Inc. Coincides with Acquisition of Pharma Consulting Inc.

Published: May 23, 2006

GREENWICH, CT, May 23, 2006 – Aptuit, Inc. announced today that it has formally launched Aptuit Consulting Inc., establishing a distinct business unit coinciding with the acquisition of Harvard, MA-based Pharma Consulting Inc. The new company will offer counsel and services from experienced industry professionals with proven track records in all aspects of drug development, helping clients move efficiently and successfully from IND-enabling chemistry and biology to proof-of-concept clinical studies.

The Aptuit Consulting business line will have offices in major life science centers around the globe and will serve both large and small biotech and pharmaceutical companies. Former Pharma Consulting Inc. CEO, William D. Kerns, D.V.M., will join Robert G. Burford, Ph.D., F.A.C.A., and Leslie Patmore, Ph.D., as Managing Directors of Aptuit Consulting. Under the terms of the agreement, Pharma Consulting Inc. will merge with Aptuit’s existing team to form a group with more extensive expertise and geographic coverage.

“Many of our customers at Aptuit are smaller biotechnology companies with promising molecules, but may lack the internal resources and expertise to effectively execute development of their product candidates,” noted Michael A. Griffith, CEO of Aptuit. “Our consultants are industry veterans who have guided successful drug candidates down the development path many times. They bring insight, experience, and project management skills that can make a major difference in how efficiently drug candidates move from one development milestone to the next.”

Dr. Kerns followed by saying, “It was Aptuit’s management team and novel approach to consulting that solidified my strategic decision to merge with the company. Aptuit has a tremendous breadth and depth of development expertise - yet they remain focused intently on minimizing the particular inefficiencies and complexities that hamper a drug candidate as it moves from milestone to milestone. Through my tenure as a pharmaceutical industry executive and consultant and working with several top-tier pharmaceutical companies and small biotechs, I have seen the pitfalls of the current process and look forward to bringing about innovation in the sector through this new merger. Our team will manage projects by accessing best-in-class resources to meet the service and strategic needs of our customers.”

In addition to Aptuit Consulting and Aptuit Informatics, Aptuit has a series of core operating business units, which include Active Pharmaceutical Ingredient Development (API), Preclinical Technologies, Analytics, Pharmaceutics, and Clinical Packaging and Logistics. Aptuit Informatics will spearhead development of the Company’s innovative end-to-end IT platform, allowing customers and the Aptuit organization the ability to track projects anywhere in the world, in real time. In addition, customers can opt to retain Aptuit consultants to manage projects in-house or at other drug development service providers.

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