Bio3 Research and Daxley Group Enter into License Agreement for Biocysan™ in End-Stage Renal Disease

Milan, Italy and Montevideo, Uruguay March 31, 2006 — Bio3 Research s.r.l. and Daxley Group S.A. today announced that they have entered into an agreement granting Daxley Group a license to develop, produce and market Bio3 Research’s cysteine-based product Biocysan™ in Latin America for oral use in dialyzed patients.

Bio3 Research owns patent applications covering the composition and oral use of cysteine alone and in combination with other molecules for end-stage renal disease (ESRD). Biocysan™ is expected to reduce the risk of anemia in ESRD patients by increasing the shortened half-life of erythrocytes. ESRD patients frequently become severely anemic when oxidative stress during hemodialysis causes diminished levels of glutathione, an antioxidant, in their blood.

Daxley Group will soon start clinical studies in Mexico to confirm that Biocysan™ improves the most important parameters involved in severe anemia in hemodialyzed patients.

Francesco Paolo Pilato, President and CEO of Bio3 Research, said, “We are delighted to have entered into this agreement with Daxley Group. We believe this is a great opportunity for our company to confirm the key role of oral cysteine in preventing severe anemia in hemodialysis patients.”

“Daxley Group is excited about its collaboration with Bio3 Research,” said Arnaldo A. Massone, Daxley Group’s Chairman and CEO. “This agreement will enable us to develop and market a product that is supported by strong IP and has great potential to help large numbers of dialyzed patients.”

About Daxley Group S.A.
Daxley Group S.A. is a privately owned drug development and marketing company, founded in 2003. Based in Montevideo, Daxley Group has affiliates throughout Latin America. The group’s activity focuses mainly on highly specialized products in the areas of infertility, gynecology, neurology, cardiology, nephrology andnutrition.

About Bio3 Research s.r.l.
Bio3 Research s.r.l., an Italian company founded in 2001, has headquarters in Milan and an office at the Bioindustry Park of Canavese (Turin). Bio3 Research works with research institutions, individual scientists and early-stage companies to identify, protect and exploit commercially promising intellectual property in the life sciences. Such assistance may include pre-clinical development and negotiation of strategic industrial partnerships. Bio3 Research’s activity focuses mainly on the field of HMBG1-related cardiovascular disorders and use of HMGB1 and its fragments in connective tissue regeneration. Other fields of interest include skin and renal diseases. Additional information on Bio3 Research can be obtained from www.bio3research.com or by e-mail: info@bio3research.com