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Laureate and Bradmer Announce Development and Manufacturing Agreement

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Laureate Pharma, Inc. has announced that it has entered into a biopharmaceutical development and manufacturing agreement with Bradmer Pharmaceuticals Inc. for process development and cGMP manufacture of the monoclonal antibody precursor of Neuradiab, Bradmer's anticipated multi-center clinical candidate for treatment of brain cancer.

The project is well underway and Laureate expects to supply Bradmer with product by the end of 2006.

"We are excited to apply our experience and expertise in monoclonal antibody development and production to Bradmer's important new clinical candidate for patients that suffer from brain cancer," said Robert J. Broeze, Ph.D., President and Chief Executive Officer of Laureate Pharma.

"Our relationship with the management of Bradmer and its potential new cancer therapy Neuradiab meets our strategic objective of working with innovative partners and products."

"Neuradiab has been evaluated in multiple Phase I and Phase II trials conducted by Duke University for the treatment of glioblastoma multiforme," said Mark C. Rogers, M.D., Chief Executive Officer of Bradmer.

"Over 160 patients have safely received Neuradiab treatment and the results have clearly demonstrated the important clinical benefit of this product."

"Our partnership with Laureate Pharma is a crucial step in our manufacturing strategy and our plans to initiate a multi-center clinical trial over the next year."