History of Juvaris BioTherapeutics, Inc.

Juvaris scientific programs benefit from a committed team of experienced scientists. The scientific founders and advisors of Juvaris have worked together in the past to produce new and innovative technologies and are reuniting to advance this exciting discovery. The group has advanced products through pre-clinical and clinical development towards regulatory approval. Juvaris has the advantage of its proprietary technology and the inventor's singular skill and experience in its use. The scientific founders include Steven Dow, DVM, Ph.D. and Jeff Fairman, Ph.D.

Dr. Dow's current position is as Associate Professor in the Departments of Clinical Sciences and Pathology in the College of Veterinary Medicine at Colorado State University. Dr. Fairman, the company's first employee, is an industry consultant and experienced scientist in the use of cationic lipid-DNA complexes in gene therapy.

Juvaris represents a unique opportunity in early stage companies in that the majority of research and product development work that is necessary to commence initial clinical evaluation of the product has been completed. Through the prior work of the founders and scientific team of Juvaris in the area of gene therapy, this technology has been tested in large and small animal models, evaluated in veterinary clinical trials, and toxicity profiles have been determined. Process development resulting in the production of clinical grade material has been achieved and documented to be reproducible. Below is a figure of the positioning of Juvaris BioTherapeutics on a development stage value paradigm.

It is important to note that although the scientific and management team of Juvaris BioTherapeutics has considerable experience in the field of gene therapy that the plasmid DNA mentioned as a part of the lipid/DNA complex does not encode a gene.

On February 1, 2003, Mr. Martin D. Cleary joined Juvaris as President and CEO. He is widely recognized in the biotechnology and pharmaceutical industry. Since 1986, Mr. Cleary has raised over $300 million in equity and partnership funds.

On April 15,2003, Juvaris BioTherapeutics, Inc. announced the appointment of John F. Warner, Ph.D. as Chief Scientific Officer and Vice President of Research and Development. Dr. Warner is an experienced executive and scientist with over 19 years experience in the biotechnology industry with specific experience in the development of therapeutic vaccines.

The Juvaris management team and its advisors have a proven track record in corporate venture financing, building shareholder value, and execution of strategies that realized substantial returns on investment for shareholders.