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Modigene Announces Successful Completion of Pharmacokinetic &,Pharmacodynamic Pre-Clinical Experiments for Proprietary,Long-Acting Human Growth Hormone, Long-acting Interferon Beta and,Long-acting Erythropoietin

VIENNA, Va., June 20, 2007 /PRNewswire/ -- Modigene Inc., a Nevada corporation today announced the successful completion of pharmacokinetic and pharmacodynamic pre-clinical experiments for long-acting human growth hormone, long-acting interferon beta and long-acting erythropoietin.

Modigene's pharmacodynamic and pharmacokinetic pre-clinical experiments demonstrated superb durability of the long-acting proteins, indicating a potential administration protocol in patients of once per week or up to once every four weeks, pending the specific protein and disease indication. The models were conducted using the industry standard animal models and methods as well as comparative studies to the commercially available versions. Human growth hormone is used to treat growth failure in children and adults, is injected 3-7 times per week, and has an existing estimated market size of $2.2 billion; while interferon beta is prescribed for the treatment of multiple sclerosis, is injected 1-3 times per week, and has an existing estimated market size of $3.8 billion. Neither of these markets currently have a commercial long-acting version available.

In addition, Modigene's long-acting erythropoietin has demonstrated, in a pre-clinical animal model comparative study, increased durability and biological effect over Amgen Inc.'s Aranesp(R), a long-acting erythropoietin with reported sales of $4.1 billion in 2006, out of a total estimated EPO market size of $11.7 billion. Erythropoietin is prescribed for the treatment of anemia.

"We are very excited about Modigene's pre-clinical work to date," said Dr. Phillip Frost, Vice Chairman of Teva Pharmaceutical Industries, and Modigene's largest shareholder and board member. "With four CTP-modified proteins demonstrating to date exceptional results, including Schering-Plough/Organon's FSH-CTP now in Phase III clinical trial, and Modigene's human growth hormone, interferon
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