Release issued 1st June 2005

Evry (France) and Milan (Italy)- Zambon Group S.p.A. (Milan, Italy) and ObeTherapy Biotechnology (Genopole®, Evry, France) jointly announced today that they have achieved the first milestone in their R&D collaboration agreement. This milestone consists in the identification of low-molecular weight drugs for the treatment of metabolic disorders such as dyslipidaemia, metabolic syndrome, and obesity.

The research programme is focused on an innovative molecular target uniquely involved in intestinal lipid absorption. This novel approach offers numerous advantages over currently available therapies, acting peripherally, being potentially devoid of systemic toxicity and highly selective.

During this period ObeTherapy has provided its scientific know-how in the management of metabolic disorders together with its platform of in-vitro biological tests, while Zambon Group has contributed its recognised core competencies in pharmaceutical development. These include the involvement of its DOiT Research Centre located in Taverne, Switzerland, which offers an exclusive chemical library, screening facilities and extensive experience in drug optimisation.

"The achievement of the first milestone in the agreement with Zambon will accelerate the development of a new drug based upon lean phenotype targets, a unique approach developed by ObeTherapy. During this collaboration, an excellent atmosphere of mutual trust, which is extremely important for the success of the project, was established between the researchers of both companies." said Dr. Itzik Harosh, President and Chief Scientific Officer of ObeTherapy.

"We are convinced that this new approach to the management of metabolic disorders will allow us to identify new drugs with superior clinical efficacy and tolerability. The successful attainment of this critical milestone is a step forward to this ambitious goal " said Carlo Di Padova, Zambon Group's R&D Director.

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