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Synvista Therapeutics Posts Letter to Stockholders on Web Site
Date:9/17/2008

on track for completion in late 2009.

We have met with the FDA on these two studies and believe that our clinical endpoints are acceptable to them.

While we decided not to pursue the development of SYI-2074 in heart disease, we believe that the compound has characteristics that may make it a compelling treatment for psoriasis. We completed the formulation development for topical SYI-2074 in the third quarter of 2008, and we expect to begin patient enrollment in a 30-patient Phase 2 study in this area in October 2008.

We also have developed a new family of glutathione peroxidase mimetics with properties that may be more attractive than SYI-2074 in treating heart disease. We have selected the lead compound and have begun preclinical testing. We have shown that our new family of compounds can attenuate the loss of cholesterol efflux seen in select patients with diabetes. Higher levels of cholesterol efflux may correlate with reduced atherosclerosis.

LEADERSHIP

We welcomed several important additions to the Synvista management team in the past year. Carl Mendel, M.D., was appointed to the position of Vice President, Clinical Development and Chief Medical Officer and is responsible for the clinical-stage development of the Company's lead products. Dr. Mendel brings 15 years of experience in the pharmaceutical industry, successfully directing development programs in metabolism, obesity, cardiovascular disease, abuse potential, oncology, virology and other therapeutic areas. David C. Tantillo joined us as Senior Director, Marketing and Sales, a newly created position and brings to Synvista nearly 20 years of broad-based industry experience. Mr. Tantillo is responsible for planning and implementing commercialization of the Company's haptoglobin diagnostic test.

We strengthened our board of directors with the appointment of John F. Bedard, expanding our board to four members. Mr. Bedard brings 25 years of highly relevant experience,
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SOURCE Synvista Therapeutics, Inc.
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