Penwest is a specialty pharmaceutical company dedicated to bringing to the marketplace innovative products that help improve the lives of patients. The Company's goal is to identify, develop and commercialize prescription products that address unmet medical needs, primarily for diseases of the nervous system. At the core of this strategy, Penwest applies drug delivery technologies, including its own proprietary technologies, to new and existing compounds to enhance their therapeutic profiles. The launch by Endo Pharmaceuticals of Opana(R) ER (oxymorphone hydrochloride extended-release tablets) in mid-2006 demonstrates the execution of this strategy and the value of Penwest's TIMERx(R) extended release delivery technology. Penwest is currently applying its expertise to a pipeline of potential products that are in various stages of development. The Company intends to commercialize these products independently and through third party alliances.

 Technologies:  Our proprietary technologies are designed to improve patient health by optimizing the delivery and performance of medicines. Penwest's advanced oral drug delivery technologies serve as strategic tools to extend product life cycles and boost a drug's position in the pharmaceutical marketplace.

TIMERx^®, our proprietary oral controlled-release technology, is the foundation of our drug delivery technology platform. It is adaptable to soluble and insoluble drugs, flexible to a variety of release profiles, and provides easy scale-up and technology transfer to more rapidly formulate and advance products into clinical trials.

From the TIMERx platform, we have developed three additional and distinct oral drug delivery systems: Geminex^®, SyncroDose^TM and GastroDose^TM . Geminex is a dual drug delivery system which provides independent release of combined drug actives.  SyncroDose is a drug delivery system which releases the drug at the desired site and time in the body.  GastroDose is a gastro retentive drug delivery system which enables the retention of an oral solid dosage form in the upper GI tract for a prolonged period of time.

We can work with companies to turn their oral controlled release ideas into reality. Examples of potential partnering opportunities may include:

Creation of novel release profiles for marketed products or drugs in development

Branded generics

Generic versions of existing branded controlled release products

Our arrangements are straightforward, and include key go/no go decision points throughout the development process.

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