Two investigational drugs, with best‐in‐class features, to be advanced into human clinical studies in the next 12 months

March 10, 2009, Milan. EOS S.p.A. (Ethical Oncology Science) Milan, Italy today announced that it has closed the first stage of its Series A preferred stock financing, following a seed round led by Sofinnova Partners in 2006. The tranche of € 8.2 million (US$ 10 Million) has been completed, led by Sofinnova Partners, with the co‐investment of Quantica SGR. EOS will use this new capital to advance the development of two innovative targeted cancer therapies, which have the potential to become differentiated best‐in‐class treatments for prevalent cancers. First‐in‐man clinical studies are expected to start in late 2009 and early 2010.

Silvano Spinelli, Founder, Chief Executive and Chairman of EOS, said. "This new investment will enable EOS to complete the pre‐clinical development and initiate clinical studies for two very promising targeted therapeutics, which act on specific molecular defects which cause tumors. Through our translational medicine programs, we are confident we have identified a clear and clinically feasible route for gaining clinical proof‐of‐concept and ultimately approval for our drugs."

Pierluigi Paracchi, of Quantica SGR, and Graziano Seghezzi, of Sofinnova Partners, will join EOS’ Board, alongside Antoine Papiernik of Sofinnova Partners. Silvano Spinelli, CEO and Founder of EOS, will serve as Chairman of the Board while Jacques Theurillat, Founder and current Chairman, will serve as Chairman of the newly established Strategic Advisory Board.

"We are eager to see the initiation of clinical development for the E‐3810 and HDAC inhibitor programs," continued Dr. Spinelli. "We believe E‐3810 could represent a new breakthrough in cancer treatment, due to its dual inhibition of VEGF and FGF. Based on this novel mechanism, E‐3810 has the potential to show better efficacy and tolerability than currently marketed VEGF inhibitors. Moreover, we plan to select a highly potent and long‐acting HDAC inhibitor as a drug candidate in the coming months, which could be developed for both solid and blood borne tumors."

A Dual VEGF/FGF Inhibitor – a potential best‐in‐class drug

EOS’ lead product candidate, E‐3810, is in advanced preclinical development, with phase 1 clinical studies expected to start in Q4 2009. E‐3810 is a novel small molecule, which is a potent and selective inhibitor of both the Vascular Endothelial Growth Factor (VEGF) and the Fibroblast Growth Factor‐1 (FGF) receptors, a mechanism of action which should allow it to effectively prevent the development of new blood vessels which are essential for tumor growth (a process known as angiogenesis).

E‐3810 has shown strong anti‐angiogenic properties as well as better anti‐tumor activity than currently marketed VEGF inhibitors in a number of preclinical models after oral administration. Its unique selectivity profile and the significant activity observed in vivo suggest that E‐3810 could represent a new breakthrough for the anti‐angiogenic treatment of various malignancies. E‐3810 has been in‐licensed from Advenchen (Los Angeles, CA) and EOS has world‐wide rights for oncology indications, outside China.

HDAC Inhibitors – potential for a superior profile to existing compounds

EOS is also developing an innovative family of HDAC Inhibitors, with the aim of selecting a clinical candidate in the first quarter of 2009. Phase 1 clinical trials are expected to start in early 2010. EOS’ program of optimizing naturally occurring chemical scaffolds has produced a series of molecules with outstanding

cellular potency and long‐lasting suppression of tumor growth in preclinical models. HDAC inhibitors are believed to block tumor development by preventing the inappropriate switching‐off of tumor suppressor genes and potentially other mechanisms. EOS is collaborating on this project with Karus Therapeutics Limited (Southampton, UK).

About EOS S.p.A.

EOS S.p.A. (Ethical Oncology Science) is an emerging biopharmaceutical company headquartered in Milan, Italy, developing novel targeted medicines to treat cancer. EOS was founded by a team of bio‐entrepreneurs with decades of experience in translational medicine in oncology, high credibility with the financial community and significant track record in funding and growing biotech companies. EOS has a nimble internal structure, retaining only the strategic skills and activities in‐house, while relying on strategic collaborations and outsourcing for accessing the most suitable options on a timely, flexible and cost‐effective manner. EOS has assembled an initial, well integrated portfolio of molecularly targeted agents and is committed to applying translational medicine principles to the pre‐clinical and initial clinical development of its drug candidates. EOS aim is to provide best‐in‐class anticancer agents with robust clinical proof‐of‐concept for licensing to commercial partners. www.eoasmilano.com

About Sofinnova Partners

Founded in Paris in 1972, Sofinnova Partners is one of Europe’s leading independent venture capital firms. With over €1 billion under management, Sofinnova Partners invests in early stage companies, spin‐offs and re‐start situations in the technology and life sciences sectors – companies that have the potential to become tomorrow’s global leaders. Within these two sectors, Sofinnova also looks for opportunities in the cleantech field. Sofinnova has supported entrepreneurs in over 460 ventures throughout Europe and the United States, putting its expertise and international experience to work on their behalf. The portfolio companies also benefit from Sofinnova’s local presence in Asia, and from collaborative relationships with an international syndicate of co‐investors, including Sofinnova Ventures, the sister firm in San Francisco. For more information, please visit: www.sofinnova.fr

About Quantica SGR

Quantica SGR is the leading Italian venture capital firm managing about € 90 million in assets through the Principia I and Principia II funds. Quantica is member of AIFI (Italian Private Equity and Venture Capital Association) and founder of the Italian Venture Capital Hub. In December 2008, Quantica won the award ‘Premio Demattè ‐ Private Equity of the Year’. Quantica has several investments in innovative sectors including healthcare and biotech. Quantica SGR was authorized by the Bank of Italy in January, 2003. Pierluigi Paracchi, CEO, and Stefano Peroncini, Managing Director, are the founders of Quantica SGR, together with the CNR ‐ National Council of Research, the head institution of Italian Science. www.quanticasgr.it

Contacts:

Paola Pizzi

Administrative Manager

EOS S.p.A.

Paola.pizzi@eosmilano.com

phone: +39 02 87391608 fax: +39 02 87391617 web site: www.eosmilano.com