Laureate Pharma and FeRx Announce Manufacturing Service Agreement

PRINCETON, NJ – October 14, 2003 – Laureate Pharma L.P. and FeRx, Inc. announce a manufacturing and services agreement for FeRx Incorporated’s MTC-DOX product. Under the contract, Laureate Pharma will provide formulation and filling services to support FeRx’s clinical development programs. Terms of the agreement were not disclosed.

“We are delighted to be working with FeRx. There is an excellent fit between FeRx’s technology and Laureate’s capabilities in microparticle manufacturing,” said Ernest R. Tyler, Sr. Director Parenteral Production at Laureate Pharma. Robert J. Broeze, Ph.D., President of Laureate Pharma, adds, “Laureate Pharma expects to play a significant role in meeting FeRx’s demand for manufacturing capacity. Agreements such as this are an important component of our longer term plan.”

“We have been impressed with the Laureate team’s experience and capabilities.” said FeRx President and CEO Jacqueline Johnson, Ph. D., “They will be an important partner in our efforts to bring MTC-DOX to the cancer marketplace.” Scott R. Rudge, Ph.D., Vice President of Operations added, “We plan to work with Laureate as an integrated quality oriented team, sharing information in a proactive way to decrease technology transfer time and maintain a high manufacturing success rate.”

About Laureate Pharma

Laureate Pharma is a privately held contract manufacturing services company with headquarters in Princeton, NJ. The company is dedicated to supporting the development and commercialization of pharmaceutical products for pharmaceutical and biopharmaceutical companies. Laureate Pharma’s biopharmaceutical division, located in Princeton, NJ, provides a wide range of product development services from process design and development to full-scale cGMP production, purification and aseptic filling, as well as corresponding analytical services and regulatory support. The division is focused on two active segments of the biopharmaceutical industry: monoclonal antibodies and recombinant protein products. Mammalian cells are grown in stirred-tank or hollow-fiber bioreactors for production of biopharmaceutical proteins, which are purified by state-of-the-art semi-automated chromatography systems. Laureate Pharma’s extended release technologies division, located in Totowa, NJ, supplies sustained release development, formulation and filling services through commercial scale at its cGMP manufacturing facility. For more information on Laureate Pharma, contact the company directly at 1.608.916.3570, by email at support@laureatepharma.com or visit www.laureatepharma.com.

About FeRx

FeRx Incorporated is a privately held drug delivery company pursuing the development and commercialization of its proprietary MagneTargTM system. MagneTarg offers a unique and simple method for localized delivery of a variety of pharmaceutical agents. FeRx believes the proprietary MagneTarg drug delivery system can efficiently deliver an increased concentration of drug to the desired site in the body while reducing the total amount of drug administered and limiting the toxic side effects commonly found in association with chemotherapy and other nonspecific systemic therapies. The MagneTarg System has applications across a range of therapeutic areas and provides a broad technology platform for targeted delivery of small molecules, radionuclides, biologics and genetic vectors. For additional company background, please visit the FeRx web site at www.FeRx.com.

Contacts:

Laureate Pharma L.P.
John Morris
Vice President, Controller & Strategic Planning
1.608.916.3570

FeRx Incorporated
Richard W. Keatinge, Ph.D.
Vice President, Corporate Development
(858) 677-7788