Release issued 8th September 2005

ASHBURN, Va., September 8, 2005 /PRNewswire/ -- Innocoll, Inc. announced that its wholly-owned subsidiary, Innocoll Technologies, has entered into an agreement with Medexis SA, part of the Gerolymatos Group of Companies, for the development of a wound healing product based on Innocoll's CollaRx™ membrane technology. The product will incorporate an oily extract of the plant Alkanna Tinctoria, the proprietary active ingredient in Helixderm® ointment which is approved and marketed in Greece as a drug of botanical origin. Helixderm ointment has antimicrobial, anti-inflammatory and wound healing properties through accelerated tissue granulation and epithelization. It is applied topically and is indicated for the treatment of ulcers, burns, hemorrhoids, and other traumatic eruptions of the skin.

Innocoll's CollaRx membrane technology is a biocompatible and fully bioresorbable, collagen-based film, comprised of purified type I native fibrillar collagen. It has been approved in Europe as a Class III medical device for surgical and wound healing applications. In this particular application the membrane will slowly and continuously deliver the Alkanna Tinctoria extract to the wound bed as the matrix is biodegraded, while also providing the hemostatic and wound healing properties of native fibrillar collagen.

Under the terms of the agreement, Medexis will fund the cost of development and be responsible for regulatory applications. Financial terms of the agreement were not disclosed. Dr. Michael Myers, President and CEO of Innocoll, Inc. commented "We are delighted to be working with Medexis on this project. We believe that the natural wound healing properties of the CollaRx membrane will act in synergy with the therapeutic properties of the botanical extract to create a truly novel and efficacious line extension of Helixderm." Panayotis Gerolymatos, President and CEO of the Gerolymatos Group, stated "We are pleased to announce this agreement that will make possible the development of a highly efficacious wound healing product."

About CollaRx

CollaRx is Innocoll Technologies' lead technology platform for the site specific targeted delivery of a wide variety of medicines with particular emphasis on antibiotics, analgesics, and anesthetics. The CollaRx technology is the basis of Innocoll Pharmaceuticals' lead product, COLLATAMP® G, which has been approved for over 10 years in 45 countries in North America, Europe, South America, Asia and Africa. COLLATAMP G is a lyophilized collagen sponge impregnated with the broad spectrum antibiotic gentamicin and is indicated for the treatment and prevention of hard- and soft-tissue infection post-surgery.

About Innocoll, Inc.

Innocoll is a privately held, international specialty pharmaceutical company engaged in the development and commercialization of advanced, differentiated medical products using its proprietary collagen-based technologies, CollaRxTM and LiquiColl®. For more information, please visit www.innocollinc.com.

About Medexis SA

Medexis is a Greek biotechnology company established in 2002 by the Gerolymatos Group of Companies to commercialize research originating from prominent Greek academic institutions in the fields of oncology, CNS diseases and wound healing. For more information, please visit www.medexis-biotech.com and www.gerolymatos.com.

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