These past several weeks have been extremely busy for us at ReceptoPharm. We are working on several different, but equally exciting initiatives that I wanted to share with you.

About two weeks ago, we announced the addition of Dr. Dorothy Bray to our Scientific Advisory Board. Dorothy was formerly a Director at GlaxoSmithKline in charge of HIV clinical development. She has a level of knowledge and experience that will help us jumpstart our clinical trials. We are all very excited about her joining our team.

In addition, we are preparing to begin our Phase IIb human clinical trial for AMN. Last week, we received our approval from the London Ethics Committee to begin our trial in the UK. With this approval, we expect to commence enrollment by November.

As many of you are now aware, we have a patient that has been using our treatment for AMN. He has been taking RPI-78M in cooperation with the compassionate release laws of the United Kingdom. While using RPI-78M, he has maintained an improved quality of life with no signs of progression of the disease. About two months ago, we received an update from him. He reported that while being on the drug, he feels healthier, more energetic and that during his last visit to his physician, he was so healthy that they did not need to take blood tests. He also mentioned that he continues to enjoy skydiving. We hope to see similar results with our Phase IIb trial, although we do not expect all of our AMN patients to be avid skydivers!

I will keep you posted as we progress.

Paul

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