Lybradyn, Inc. Graduates from Chicago Technology Park;
PharmaIn, LTD., Secures Laboratory Space

FOR IMMEDIATE RELEASE - February 09, 2005

Chicago - The Illinois Medical District Commission today announced that Lybradyn, Inc. has graduated from the Chicago Technology Park (CTP) Research Center and that PharmaIn, Ltd. has moved into the facility.

Lybradyn, a biotechnology company that specializes in integrated genetic engineering and fermentation products and services, was founded in late 2000 and moved into the CTP Research Center in 2003. The company applies innovative technology for cost-effective biocatalyst development for use in bioprocesses for the fine chemical industry. Lybradyn offers contract molecular biology services for cloning, manipulating genes and optimizing expression of target proteins. The company develops custom genetic systems for clients with applications ranging from new protein discovery to commercial enzyme production. The company has grown to six people and is now operating in its new facility in Oak Brook, Ill.

"We view the Chicago Technology Park as a critical resource for start-up biotechnology entrepreneurs. The facility's location within the Illinois Medical District fosters close relationships with the University of Illinois, vendors, suppliers, partners and other growing biotechnology start-up companies. The interactions enabled by the CTP relieve the growing pains common with launching a venture," said Wendy Aikens, president of Lybradyn.

"Lybradyn is a great case study of a successful early-stage company incubation," said Samuel Pruett, executive director of the Illinois Medical District Commission and president of the Chicago Technology Park. "As the life sciences industry continues to mature in the Midwest, we are intensifying our efforts to facilitate an increased number of graduations from the CTP Research Center into the community."

PharmaIn, which is developing innovative drug delivery solutions for the biotechnology pharmaceutical industries, was founded in 2000. The company has licensed its patented Protected Graft Copolymer (PGC) technology from Massachusetts General Hospital and Harvard Medical School. PGC is a novel family of nano-scale, long-circulating drug carriers with optimal molecular size of approximately 10nm for systemic and site-specific delivery of a variety of pharmaceuticals and other bioactive substances. The company is developing a broad pipeline of human therapeutics and sells imaging products for animal research also based upon PGC technology. PharmaIn is working to develop partnerships with biotechnology and pharmaceutical companies who seek to use the technology to either extend patent life of existing products and/or help solve challenging drug delivery issues with known and new drug compounds.

"As we transition from full outsourcing to having laboratory capabilities and focus on core expertise in-house, it's critical to have access to as many resources as possible," said Elijah Bolotin, president of PharmaIn. "In addition to premier laboratory space, The Chicago Technology Park offers us access to valuable University of Illinois resources and a community in which life sciences entrepreneurs can learn from one another. For us, locating at the CTP was an important business decision."

"PharmaIn's technology can hold significant benefits to biotechnology and pharmaceutical companies working in a variety of treatment areas," said Pruett. "The company has already achieved some important milestones, and has the potential to become a solid contributor to the Midwest life sciences community."

Additional information about Lybradyn can be found at www.lybradyn.com or by calling 630-575-8313. Additional information about PharmaIn can be found at www.pharmain.com or by calling 312-421-9450.

About the Chicago Technology Park
The Chicago Technology Park is a 56-acre research park that fosters the commercialization of innovative technologies through state-of-the-art facilities and critical support services. The CTP is administered by the Illinois Medical District in partnership with the University Of Illinois and Rush University Medical Center. The CTP's Research Center was one of the first biotechnology incubators in the U.S. and is still one of the largest. The CTP is currently home to 30 early- and mid-stage technology-driven companies. For more information visit www.techpark.com

About the Illinois Medical District
The IMD is a public body charged with governing coordinated growth and enhancement of the specially designated 560 acre "district" on the near west side of Chicago. The District was created in 1941 by the Illinois General Assembly and is among the largest of its kind in the world. In addition to urban planning functions, the IMD directly operates the Chicago Technology Park and is redeveloping a 100-acre District Development area. For more information, visit www.imdc.org.

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