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Biodel Awarded $1.2 Million in Therapeutic Discovery Research Grants From IRS
Date:11/2/2010

DANBURY, Conn., Nov. 2, 2010 /PRNewswire-FirstCall/ -- Biodel Inc. (Nasdaq: BIOD) announced today that it has been awarded $1.2 million in research grants under the Internal Revenue Service's therapeutic discovery tax credit program.  This program was created under the Patient Protection and Affordable Care Act of 2010 to provide tax credits or grants representing up to 50 percent of eligible qualified investments in therapeutic discovery projects during tax years 2009 and 2010.  Biodel applied for and is receiving these funds to support the company's Linjeta™, VIAtab™, smart basal, glucagon and improved glargine development projects.  

"We are gratified to receive this award in recognition of our efforts to develop novel therapies to treat diabetes," said Dr. Errol De Souza, President and CEO of Biodel.  "These funds will be used to continue our five most promising development projects."

About Biodel Inc.

Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes.  Biodel's product candidates are developed using VIAdel™ technology, which reformulates existing FDA-approved peptide drugs. Linjeta™ is Biodel's most advanced product candidate and has been reviewed by the FDA which issued a complete response letter.  Earlier-stage product candidates include VIAtab™, a sublingual tablet formulation of insulin, a line of basal insulins, and a stabilized formulation of glucagon.  For further information regarding Biodel, please visit the company's website at www.biodel.com.

Safe-Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statement
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SOURCE Biodel Inc.
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