SEATTLE, WA--(MARKET WIRE)--Aug 24, 2007 -- MitoPharm Corporation, Inc. (Other OTC:MTPM.PK - News), a biotechnology company, announced today that its Board of Directors has declared a split of the company’s common stock on a two-for-one basis to be paid in the form of a special dividend of two shares of common stock for each share of common stock outstanding.