LAUREATE PHARMA L.P. AND SOUTHERN RESEARCH INSTITUTE ANNOUNCE DRUG DELIVERY AND COMMERCIAL MANUFACTURING STRATEGIC COLLABORATION AGREEMENT

PRINCETON, N.J. and BIRMINGHAM, Ala., Sept. 10, 2002 /PRNewswire/ — Laureate Pharma L.P. and Southern Research Institute announced today the initiation of a strategic collaboration agreement related to developing and manufacturing drug-delivery products using Southern Research’s proprietary microencapsulation process technologies. Under the agreement, Laureate Pharma and Southern Research will collaborate to provide pharmaceutical clients with full microencapsulation services that range from development through commercial scale manufacturing. Terms of the agreement were not disclosed.

“We are very excited about this agreement and look forward to working closely with Southern Research Institute to expand our client offerings,” said Ernest R. Tyler, Sr. Director Parenteral Production of Laureate Pharma. Added Robert J. Broeze, Ph.D., President of Laureate Pharma, “This collaboration allows Laureate Pharma and Southern Research Institute to play a significant role in offering complete contract research and manufacturing services to the pharmaceutical industry. The agreement is an important step in Laureate Pharma’s longer term vision.”

“Laureate Pharma’s manufacturing facility is now configured to produce, on a commercial scale, injectable, depot formulations based on Southern Research’s patented microencapsulation technology. This gives us an outstanding opportunity to offer our clients expertise in microencapsulation scale-up at a commercial level as well as offering excellent manufacturing capabilities,” said Thomas R. Tice, Ph.D., Director Pharmaceutical Formulations, Southern Research Institute.

About Southern Research Institute

Southern Research Institute is an independent, not-for-profit center for scientific research affiliated with the University of Alabama at Birmingham. During its 60 years of existence, Southern Research scientists and engineers have been in the front rank of research in many areas, including drug design and drug development. Institute scientists are pioneers in the development of depot formulations: injectable microspheres and implantable rods. Drug- delivery programs range from feasibility studies, pre-formulation studies, pre-clinical development, scale up and clinical trial material production. Clinical trial materials can be made for Phase 1, 2, and 3 trials in Southern Research’s Class 100 and Class 10,000 cGMP manufacturing suites located in a 12,000 sq. ft. cGMP manufacturing facility. For more information contact the organization at (205) 581-2383 or visit www.southernresearch.com.

About Laureate Pharma

Laureate Pharma L.P. 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 small to large pharmaceutical and biopharmaceutical companies. Laureate Pharma’s extended release technologies division, located in Totowa, NJ, supplies sustained release microsphere formulations of drug and biopharmaceutical products. The cGMP manufacturing facility carries products through formulation, validation, cGMP production and filling services for clinical trials or commercial use. 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. 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.