Announcements

ULM Agreement Extended Until December, 2010

18th December, 2008

Beta Pharmaceutical Limited focuses on research and development of effective treatments for breast cancers.  Despite advances in treatment over the past decade, significant unmet needs remain in breast cancer.  The large patient potential makes breast cancer a relatively attractive indication for drug developers.

On 25th May, 2007, an Agreement was entered into with the University of Louisiana at Monroe (ULM) to conduct scientific research to develop novel cancer chemopreventive agents using natural phytonutrients, called tocotrienols as treatments for breast cancers.  The resulting applied research program with ULM commenced in December 2007 and is known as the Breast Cancer and Health Project.

On the 18th December, 2008, in view of the positive and encouraging research results arising from the conduct of the Breast Cancer and Health Project, the Company and its partner, concluded commercial arrangements with ULM to extend the term of the research under the Agreement for an additional 18 months.  The extension extends the research project’s funding period through December 2010, and will bring the total amount funded to be funded to US$ 1,017,000 calculated from the inception of the project.

The Breast Cancer and Health Project is a collaborative effort between 4 laboratories in ULM’s College of Pharmacy, whose work is expected to move towards clinical trials in humans.

The Company believes that the fact that the ULM Agreement has been extended signifies acceptance of the value which the parties believe is arising from the research work on the Breast Cancer and Health Project and their willingness to continue to work together on a long-term extended basis.

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