LOS ANGELES--(BUSINESS WIRE)--Dec. 5, 2005--Molecular Pharmacology (USA) Limited (OTCBB: MLPH) announced today that it has entered into a Share Sale and Purchase Agreement with PharmaNet Group Limited of Australia, a drug development company listed on the Australian Stock Exchange (ASX: PNO), for the acquisition of its wholly own pharmaceutical division, Molecular Pharmacology Limited (MPL). The acquisition of MPL Australia will provide MPL USA with an immediate and solid international foundation and will allow it to grow its business into all major geographical markets. The assets and resources of the Australian company and its existing teams and development programs will augment MPL USA’s plan to develop safe and effective pain and inflammation management products.