Probiodrug AG Announces Changes to Supervisory Board and Appointment of Hendrik Liebers to Chief Financial Officer

Dr. Christoph Schröder, Dr. Erich Platzer and Dr. Dinnies von der Osten join Supervisory Board

Halle (Saale) and Munich, Germany //
Probiodrug AG, a developer of small molecule inhibitors against inflammatory and neurodegenerative diseases, today announced the appointment of Hendrik Liebers to Chief Financial Officer, effective June 1, 2007. In the context of the recent acquisition of Ingenium Pharmaceuticals AG and a Series A financing round for the combined entity, Dr. Christoph Schröder, Venture Partner at TVM Capital, Dr. Erich Platzer, Investment Advisor at HBM BioVentures AG, and Dr. Dinnies von der Osten, Managing Partner of Acceres Beteiligungsmanagement GmbH & Co. KG, have been appointed to Probiodrug´s Supervisory Board, effective July 5, 2007. Prof. Georg Frank, former Chairman, will continue to serve as a member of Probiodrug´s Supervisory Board, while Dr. Jörg Neermann and Dr. Mirco Gründel have resigned from the Board. Dr. Christoph Schröder will become the new Chairman of the Supervisory Board, with Dr. von der Osten acting as Vice Chairman.

Probiodrug is developing a completely new approach to treat Alzheimer’s disease and other neurodegenerative and inflammatory diseases, focusing on the enzyme glutaminyl cyclase (“QC”). The latest financing will allow Probiodrug to advance the preclinical and clinical development of its small molecule drugs.

“We are delighted about Hendrik Liebers joining Probiodrug as Chief Financial Officer, and the appointment of Dr. Christoph Schröder, Dr. Erich Platzer and Dr. Dinnies von der Osten strengthening our Supervisory Board,” comments Dr. Konrad Glund, CEO of Probiodrug. “Following the acquisition of Ingenium Pharmaceuticals AG, we have now put together a strong executive and non-executive team with significant experience in the life science industry to ensure optimum progress with Probiodrug´s pipeline and corporate development.”

Prior to joining Probiodrug as Chief Financial Officer, Hendrik Liebers was Head of the Life Sciences Team at IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH from 2004 to 2007. He has worked in the financial area for many years. After graduating from the Universities of Leipzig and Tübingen with a Diploma in Biology, focusing particularly on biochemistry, developmental biology and plant genetics, he earned a Diploma in Commerce from the Universities of Leipzig and Hagen. Subsequently, Mr. Liebers joined CFH GmbH in 1998 as Investment Director, where he worked until 2004.

Dr Christoph Schröder joined TVM Capital in 2002, and is a Venture Partner for life sciences. He is a seasoned life sciences executive with experience at BASF Pharma and numerous private investments in European and U.S. biotech companies. He has successfully managed numerous M&A and licensing transactions on behalf of clients in the life sciences and biotech industries. Following BASF Pharma’s acquisition by Abbott Laboratories in 2001, Dr. Schröder became a partner with JSB Partners, L.P., a specialized transatlantic investment banking and advisory firm in the life sciences industry. In this capacity, he successfully executed several private placements, M&A and licensing transactions on behalf of biotech clients, including Probiodrug/OSI, Cardion/Roche and Tibotec-Virco/Johnson & Johnson. Dr. Schröder earned his Ph.D. in Finance from the Technische Universität in Berlin and graduated in Business Administration from Ludwig Maximilian-Universität in Munich.

Dr Erich Platzer, MD, is an Investment Advisor at HBM BioVentures AG. Previously, he has been Head of Oncology at Roche, Switzerland. Dr. Platzer has over 10 years of operating experience in product development and marketing and has been responsible for various strategic corporate partnerships. During his professional career, he has worked as physician and researcher for many years and was a member of the team that purified G-CSF (Neupogen). Dr. Platzer graduated from the Medical School of the University of Erlangen, where he also received his Ph.D.

Dr Dinnies von der Osten is CEO and partner of recently founded Acceres Beteiligungsmanagement GmbH & Co KG, a funds managing company specializing in early stage and growth financing of technology based companies, which he did as well being CEO of IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH from 1998 until mid 2007. IBG funds invest in early stage financing of technology oriented companies, especially in life sciences including biotechnology, nanotechnology, advanced materials, mechanical engineering and clean technologies. Before joining IBG, he served as Managing Director of an investment- and trust administration company and a cleantech company. Dr von der Osten holds a Ph.D. degree in economics from Freie Universität Berlin.

About Probiodrug AG

Probiodrug is a drug discovery company with a focus on distinct proteins as drug targets. The company endeavors to identify new orally active compounds for selectively modifying enzymatic activity in order to derive therapeutic effects in neuronal and autoimmune disorders. Probiodrug actively pursues patent protection for its lead and back-up compounds as well as for fundamental treatment technologies in various indications. The company is the pioneer in the field of QC–inhibition, a new approach to treat Alzheimer’s disease and other neurodegenerative disorders. Before it focused on QC, it was the pioneer in the field of DP 4 – inhibition for treatment of type 2 Diabetes. Probiodrug successfully commercialized its DP 4 approach with Merck & Co., USA, Ferring Pharmaceuticals and Ortho-McNeil, Inc. and Novartis Pharma, before transferring its DP 4 program and patent portfolio to Prosidion Ltd., a subsidiary of (OSI) Pharmaceuticals, Inc.

Probiodrug AG
Dr Konrad Glund, CEO
Weinbergweg 22
D-06120 Halle (Saale)
Germany
Tel.: +49 345 55599-00
Fax: +49 345 55599-01
Mail: konrad.glund@probiodrug.de

akampion
Dr Ludger Weß
Obere Hauptstr. 9a
D-85376 Massenhausen
Germany
Tel.: +49 8165 809724
Fax: +49 8165 901795
Mail: ludger@akampion.com