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MADISON, Wisconsin, November 26, 2001- SLIL Biomedical Corp. announced that it has closed an equity investment by PPD, Inc. (Nasdaq: PPDI). Terms were not disclosed. PPD is a leading global provider of discovery and development services and products for pharmaceutical and biotechnology companies. "PPD is an outstanding partner for SLIL," said SLIL’s President and CEO, Peter Molloy. "Their expertise in pharmaceutical development should be a key factor in advancing some of our product opportunities." In conjunction with their equity investment, PPD receives an option to license a family of SLIL’s candidate cancer drugs. SLIL Biomedical Corp. is a Madison-based, privately held biopharmaceutical company, engaged in the discovery and development of drugs to treat cancer and other proliferative diseases. Polyamine analogs are the centerpiece of SLIL’s drug discovery platform and the company now has a substantial pipeline of lead compounds. SLIL also holds the exclusive license from the University of California San Francisco to the ‘Sequential Pathogenesis’ disease model. This breakthrough model of disease finds that modified macrophages, called ProMacs™, may be involved in the pathogenesis of diseases such as cancer, atherosclerosis and dementia. SLIL intends to develop diagnostic assays and novel therapeutic targets, based on the model. The model is also expected to lead to the discovery of new retroviruses associated with human diseases. This announcement may contain forward-looking statements that reflect management’s current view of future events and that are subject to risks and uncertainties. Actual results could differ materially from those currently anticipated as a result of a number of factors, including but not limited to: availability of adequate funding; outcomes of preclinical development and clinical trials; ability to manufacture; cancellation or delay of licenses; dependence on patents; dependence on current and future collaborative partners; ability to manage growth and attract/retain employees; government regulation and health care reforms; and consolidations and changes within the pharmaceutical industry. SOURCE: SLIL Biomedical Corp. Contact: Marla K. Johnson SLIL Biomedical Corp.
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