MAP Pharmaceuticals Acquires Proprietary Drug Particle Formulation Technology From Eiffel/Telesso Technologi... ( MOUNTAIN VIEW Calif. June 24 /- M...)

MAP Pharmaceuticals Acquires Proprietary Drug Particle Formulation Technology From Eiffel/Telesso Technologies Limited

Date:6/24/2008

MOUNTAIN VIEW, Calif., June 24 /PRNewswire-FirstCall/ -- MAP Pharmaceuticals, Inc. (Nasdaq: MAPP) today announced that Telesso Technologies Limited, formerly Eiffel Technologies Limited ("Eiffel"), has agreed to transfer and assign to MAP Pharmaceuticals previously licensed intellectual property and know-how, as well as capital equipment, owned by Eiffel related to its supercritical fluid technology ("SCF").

MAP Pharmaceuticals will make payments to Eiffel upon the successful transfer of the intellectual property and related capital equipment. Eiffel will receive milestone payments upon achievement of certain late stage clinical and regulatory milestones for the first product developed by MAP Pharmaceuticals using the Eiffel technology. The new agreement supersedes the research and development agreement entered into by the companies in 2005 and eliminates all royalty and milestone commitments under the previous agreement.

Since 2005, MAP Pharmaceuticals and Eiffel have collaborated on the development of methods for manufacturing drug particles either alone, or as a combination of two drugs in a single particle, using Eiffel's SCF technology. The technology has been shown in clinical studies to be applicable to inhaled formulations of biologics and combination drug products. MAP Pharmaceuticals believes the technology may also apply to the combination of three different drugs into a single particle for inhalation or for use in other dosage forms.

"This acquisition allows MAP Pharmaceuticals to assume direct control of processing and manufacturing of drug formulations relating to the SCF technology, while also allowing full control of intellectual property," said Timothy S. Nelson, President and Chief Executive Officer
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