Lund, Sweden, and London, UK 16 June 2008. Alligator Bioscience AB (“Alligator”), a biotechnology company applying proprietary technology to the improvement of proteins and PolyTherics Ltd (“PolyTherics”), a biopharmaceutical company specialised in the targeted application of polymers to biopharmaceuticals, today announced the establishment of a new alliance.

Under the terms of the collaboration agreement, PolyTherics and Alligator will explorethe biological effects of the polymer-based technologies developed by PolyTherics on proteins optimized and provided by Alligator. The parties intend to use the intellectual property generated by their collaboration to explore the development and commercialization potential of next generation protein-based products. No further details were disclosed.

Dr Gun-Britt Fransson, Chief Executive Officer of Alligator, commented: “The collaboration with PolyTherics supports Alligator’s strategy to further expand its pipeline with optimised drug candidates into new areas of indications. We are excited to see the outcome of combining the two companies’ technologies.”

Dr Keith Powell, Chief Executive Officer of PolyTherics, said: “A key element of PolyTherics’ business strategy is to exploit our proprietary technologies in expanding the product potential of proteins. We have developed and continue to develop technologies to improve every type of protein therapeutic; from antibody fragments to enzymes, both natural and improved. We are excited by the prospects for this collaboration with Alligator and our shared vision of exploring next generation biopharmaceuticals.”

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Editors Notes
PolyTherics press enquiries to:
Margaret Henry,
PR Consultant.
Tel: +44 (0) 1865 811199
E-mail: m.henry@oxin.co.uk

Alligator press enquiries to:
Gun-Britt Fransson, CEO
Tel: +46 46 286 4284
guf@alligatorbioscience.com

About Alligator Bioscience AB
Alligator Bioscience uses its unique and proprietary FIND® (Fragment INduced Diversity) technology to discover and develop drug candidates for the treatment of inflammation and cancer. Since 2001, Alligator Bioscience has created an internal pipeline of therapeutic drug candidates for major clinical indications. These candidates are at varying stages of development. The company has also successfully collaborated with several companies in the pharmaceutical and biotech industry, improving their proteins and helping them to build more competitive pipelines. Collaboration partners include Astra Zeneca, Bayer Healthcare, Wyeth and ImmuRx. Alligator Bioscience operates from the Ideon Science Park in Lund, and has 24 employees. The company has more than 190 shareholders.
For further information please visit www.alligatorbioscience.com.

About PolyTherics Ltd
Founded in 2002, PolyTherics is a spin-out company from Imperial College London and the London School of Pharmacy that is dedicated to using biomedical polymers to optimise pharmaceuticals for the diagnosis, treatment and cure of disease. PolyTherics has developed and patented an innovative approach to PEGylation, known as TheraPEG™, to prolong the half-life of proteins for development as biopharmaceutical products. PEGylation is the process by which the polymer Polyethylene Glycol is attached to molecules to modify their pharmacokinetic properties. PEGylation increases the residence time of substances administered into the bloodstream, thereby potentially reducing the frequency of treatment, decreasing side effects and improving patient compliance. For example, PEGylated interferon used to treat Hepatitis C may be administered once per week, in contrast to three times per week required for the non PEGylated form.

PolyTherics has been supported financially through an initial seed investment, followed in June 2007 by £2.3 million from Imperial Innovations Group plc, Longbow Capital LLP and The Capital Fund in June 2007 and through deal-generated revenues.
For further information, please visit www.polytherics.co.uk