Avineuro Reports Positive Phase 2a Clinical Proof of Concept Trial Results on AVN-211, Potent Small Molecule for Treatment of Schizophrenia

San Diego, CA – February 21st, 20011 - Avineuro Pharmaceuticals, Inc. reported today positive top-line results from a Phase 2a clinical proof of concept trial to assess AVN-211 as an augmentation therapy to improve cognition in schizophrenia patients. In a double blind trial in 50 patients stabilized on an atypical antipsychotic therapy, AVN-211 met the protocol criteria for positive results on the primary efficacy outcome measures. AVN-211, administered orally in the dose of 4 mg QD, was well tolerated and no adverse events were observed.

About AVN-211:

AVN-211 is a novel highly selective 5-HT6 receptor antagonist discovered and optimized on the company’s drug discovery 5-HT6 platform.

About Cognition impairment in Schizophrenia:

Cognition impairment in patients with schizophrenia is recognized by many psychiatrists as the very core of the dysfunction in this disease making it extremely difficult for patients to work, study and maintain a social lifestyle.

About Avineuro Pharmaceuticals, Inc.:

Avineuro discovers and develops novel small molecules for unmet medical needs in neurology and psychiatry. Avineuro emphasizes a rational approach to drug discovery that combines modern medicinal chemistry with streamlined pre-clinical and clinical development studies, thus allowing a fast transition to proof-of-concept product candidates.

Contact: Alena Ivashchenko, MBA Director of Business Development Avineuro Pharmaceuticals, Inc. 6605 Nancy Ridge Drive San Diego, CA 92121 Phone: 858-357-6627 ei@avineuro.com www.avineuro.com