:::DOLTHERA:::Investors:::

AnGes MG is the second largest Japanese biotech, founded in December 1999 based on innovative discoveries by researchers of Osaka University. Anges specializes in R&D and commercialization of gene related pharmaceuticals. At present, AnGes is developing two lead products: Hepatocyte Growth Factor (HGF) gene transfer to improve blood circulation by regenerating blood vessels; and NF-kB decoy oligonucleotides which are being developed for treating various inflammatory diseases including atopic dermatitis. The HGF gene transfer program for treating peripheral arterial disease (PAD) is in a pivotal clinical trial in Japan, and a Phase II clinical trial in the United States. The other program for treating ischemic heart disease (IHD) is in a Phase I clinical trial in the United States.

BioMedInvest is a leading, Swiss-based venture capital fund focusing primarily on investments in innovative start-up, early stage and spin-off companies in the human healthcare sector within the Alpine Rim region. The group currently advises and manages funds of nearly CHF 100 million. Since its inception in 2003, BioMedinvest has financed 8 leading biotech & medtech companies, two of which have already completed a successful exit through IPO or M&A. With its highly experienced management and advisors team BioMedinvest takes on an active investor role and intends to build a diversified portfolio of leading companies in the pharmaceuticals, diagnostics, medical devices, and biotechnology sectors.

DVC Deutsch Venture Capital, a leading venture capital firm based in Munich, focuses primarily on European growth companies in the areas of information, telecommunication, semiconductor and industrial technologies as well as life sciences. In the field of life sciences DVC invests in the development of therapeutic and diagnostic products as well as in platform and medical technologies. DVC's total administrated fund volume amounts to Euro 300 million. For investments in private companies, DVC invests approximately Euro 1 - 10 million as lead investor or, in the case of larger financing rounds, as co-lead investor. DVC is a 'value-added' financial investor. Each sector team consists of experienced investment managers with relevant backgrounds. Since its formation in 1998, DVC has invested in approximately 70 companies.

Mediport Venture Fonds II GmbH, managed by Gradus Venture GmbH, is specialized in seed and early stage financing in life science companies, investing up to Euro 2 million in total. With its hand on management in the early stages of new founded companies, founders are supported to establish their business.

KfW Banking Group, owned by the German federal government (80 per cent) and the German states (20 per cent), sees its mission in giving impulses for the economy, society and ecology in Germany, Europe and the world. It supports change and promotes promising ideas, focusing among other areas on the promotion of small and medium-sized enterprises, as well as on export and project financing. In fiscal year 2005, KfW Banking Group achieved a total financing volume of Euro 68.9 billion, which is an increase of 10 per cent over the previous year. The balance sheet total rose by 4 per cent to reach Euro 341 billion. The majority of funds is being raised on international capital markets. DOLTHERA drew upon the ERP Start Fund, the core instrument in KfW's range of products in the area of early-stage financing.

InnoCap (Innovations-Capital Göttingen GmbH) is a fund for seed financing that was founded in April 2001 by the Georg-August University Göttingen and particularly supports spin-offs from Universities and other Research Institutions, mainly in the area of life science and natural sciences. The (Unternehmens-Beteiligungs-Gesellschaft) UBG Göttingen / Hildesheim is a subsidiary of the Savings Bank Göttingen / Hildesheim and thus a member of the German Savings Bank Finance Group, which is the largest of its kind in Germany and Europe.