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AKRIMAX Pharmaceuticals Announces New President

Industry Leader Alan L. Rubino Joins New Company

February 25, 2008 – Cranford, NJ

Akrimax Pharmaceuticals, LLC has announced the appointment of experienced pharmaceutical industry executive Alan L. Rubino as its new President.

Rubino has spent 30 years at every level of the pharmaceutical industry, and most recently was the President and Chief Operating Officer of Pharmos Corporation where he led the transformation of the company through the acquisition of Vela Pharmaceuticals and subsequent restructuring of Pharmos to focus on its leading development compound currently in Phase 2b clinical trials for the treatment of irritable bowel syndrome.

“We are thrilled that Alan has agreed to join Akrimax,” said Joseph Krivulka, Chairman of Akrimax. “His experience in building long-term value and strategic alliances with industry partners is exactly what we want. And his extensive industry knowledge will bring new opportunities for Akrimax and our customers.”

Rubino’s appointment adds to a deep and successful senior management team that formed Akrimax late last year, and purchased the 950,000-sq.-foot manufacturing facility in Rouses Point, New York and select pharmaceutical products from Wyeth. Krivulka founded the company with co-chairman Leonard Mazur.

Rubino is accomplished in a multitude of therapeutic areas with comprehensive knowledge and product marketing experience in cardiovascular, CNS, oncology, gastroenterology, infectious diseases, dermatology and biotechnology.

Prior to joining Pharmos, Rubino spent 24 years at Hoffmann-La Roche, one of the world’s top ten pharmaceutical companies and a global leader in the diagnostics sector. At Roche, he was a corporate officer and member of the U.S. executive committee, holding a variety of key positions with broad management responsibilities in operations, marketing, business development, human resources and corporate strategy.

“Joining the Akrimax team is a great opportunity as they have a proven track record of building highly successful companies,” Rubino said. “Akrimax is a fast-growing and ambitious new company and I look forward to being part of its development and growth as we become a major specialty pharma player that also possesses significant capabilities to be among the best strategic manufacturing partners in the industry.”