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Milestone Biosciences, LLC Further Strengthens Executive Management Team

Eric P. Loukas, Industry Veteran, Named as CEO

Frank Jacobucci Co-Founder, Named as President and COO

ALTAMONTE SPRINGS, Fla., Aug. 14 /PRNewswire/ -- Milestone Biosciences, LLC, a privately held specialty biotechnology company focused on in-licensing and commercialization of niche oncology products, today announced the appointment of Eric P. Loukas as Chief Executive Officer, effective August 12, 2008. Current President, CEO and Co-founder, Frank Jacobucci, will become President and Chief Operating Officer and will continue to be heavily involved in the company's development, growth and expansion.

"We are pleased to welcome Mr. Loukas to our team. His leadership skills combined with his strategic and industry insight will provide Milestone with the depth of expertise required as we move forward at an accelerated pace, said Frank Jacobucci, Milestone's President and COO.

"I am excited to join Milestone Biosciences at this important stage of its growth," commented Mr. Loukas. "The company's unique business model will provide the opportunity for cancer patients to have access to a broader range of therapies and I look forward to working with the rest of the team and our partners to realize the full potential of this innovative company."

Mr. Loukas brings to the team over 21 years of industry experience. Prior to joining Milestone, Mr. Loukas was Executive Vice President, Chief Operating Officer, General Counsel and Corporate Secretary of MGI PHARMA, INC., where he was responsible for MGI's commercial, medical affairs, manufacturing, regulatory, quality, government affairs, reimbursement and legal operations. Mr. Loukas joined MGI in July 2004 as Senior Vice President, General Counsel and Corporate Secretary. Prior to joining MGI, he served as Division Counsel at 3M Pharmaceuticals, a division of 3M Company, where he provided legal and strategic counsel to the global management team of a $1 billion pharmaceutical business. Early in Mr. Loukas' career he spent six years, first in research and then pharmaceutical sales, at Bristol Myers, Janssen Pharmaceutical and McNeil Pharmaceutical. He received his B.A. degree in experimental psychology from The State University of New York at Albany, an M.S. degree in pharmacology from Rutgers University and J.D. degree from The John Marshall Law School.

About Milestone

Founded in AltaMonte Springs, Florida in January 2007, Milestone Biosciences, LLC is a privately held specialty biotech company with offices in Florida, Minnesota and New Jersey, that focuses on in-licensing and commercializing niche oncology products that would otherwise have limited exposure in the oncology marketplace. Milestone is dedicated to utilizing its broadly-based commercial expertise in oncology to make these niche oncology products available to patients whose treatment options are limited, or where there are recognized unmet medical needs. Milestone also seeks to partner with smaller R&D-focused companies and other companies with no U.S. commercial presence, to commercialize their niche oncology products and thus enable them to continue doing what they do best.

SOURCE Milestone Biosciences, LLC
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