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Lux Biosciences Establishes European-Based Operations -- Frankfurt Location Serves as Central Hub for Late Stage Clinical Trials -- JERSEY CITY, N.J., Sept. 18, 2006-- Lux Biosciences, Inc., a privately held biotechnology company specialized in the field of ophthalmic diseases, today announced that it has established Lux Biosciences GmbH in Frankfurt, Germany as a wholly owned subsidiary with the mission to create the infrastructure for the company’s European activities. By developing a product pipeline in the US and Europe simultaneously, Lux intends to create significant synergies in drug and market development. In addition, this effort builds on Lux’s recent milestones, including the following: -- In May 2006, Lux secured from its partner Isotechnika, Inc, an exclusive, worldwide license for LX211, its next generation calcineurin inhibitor, for ophthalmic treatments. LX211 is currently entering pivotal stage clinical development in uveitis. -- In September 2006, Lux announced an exclusive, worldwide license with Rutgers University for access to its polyarylate patent estate for ophthalmic use. “Our European activities are an integral part of Lux’s overarching strategy to develop a product pipeline with the broadest practical scope, which for us includes North America and Europe,” said Ulrich Grau, Ph.D., president and chief executive officer of Lux Biosciences. “We strategically identified Frankfurt as a central location that provides easy access to the expertise of leading clinical centers in Germany, France, UK, Belgium and other European countries with whom we collaborate.” About Lux' Operations in Europe Lux Biosciences GmbH will be located in Frankfurt, Germany. Manfred Zoltobrocki, Ph.D. will serve as Managing Director of the operations, leveraging 34 years of experience in the pharmaceutical and biotechnology industries where he has held various positions in R&D and general management including service as CEO of EPIDAUROS Biotechnologie AG; VP of Development at Aventis Pharma; and various R&D management positions at Aventis’ predecessor companies. About Lux Biosciences Lux Biosciences is a privately held biotechnology company dedicated to the identification, optimization, development and commercialization of products for the treatment of ophthalmic diseases. The company's business strategy is characterized by: -- A focus on compounds already marketed or with clinical proof of concept in non-ophthalmic indications that Lux will develop as unique, targeted therapies for corresponding ophthalmic diseases, with potentially greater efficacy and safety than existing treatments -- A clinical-stage portfolio of projects including a next-generation calcineurin inhibitor that has potential in several ophthalmic diseases and, as such, represents a pipeline of product opportunities. The initial one of these is planned to enter pivotal clinical testing by early 2007, and -- if successful -- Lux expects it will reach the market in 2009 -- A proprietary product enabling bio-erodable polymer technology that allows targeted delivery of Lux molecules to the eye This strategy is being implemented by an experienced, execution-oriented management team that combines a history of achievement in drug development and commercialization with deep insight and scientific expertise in immunology and ophthalmology. More information on Lux Biosciences can be found at www.luxbio.com. CONTACTS: Lux
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