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PC-DAC:Exendin-4 Phase I/II Multiple-Dose Study Preliminary Results,,,Demonstrate Safety and Efficacy at Once-Weekly Dosing

od glucose levels."

ConjuChem intends to submit the study results for presentation at a scientific meeting in 2007.

In conjunction with the multi-dose results, ConjuChem also reported that ongoing product development programs including manufacturing process improvements are expected to be completed in 2007 in time to be included in a Phase II study, which is planned for initiation by year-end.

About PC-DAC(TM):Exendin-4

Exendin-4 is a Glucagon-like peptide-1 (GLP-1) homolog and an agonist for the GLP-1 receptor. Exendin-4 decreases glucagon and increases insulin secretion in a glucose-dependent manner. Exendin-4 may stimulate beta-cell proliferation, restore beta-cell sensitivity to glucose, delay gastric emptying, and increase peripheral sensitivity to glucose. The clinical utility of Exendin-4 is somewhat limited by its relatively short half-life in plasma. Developed with ConjuChem's proprietary PC-DAC(TM) technology, PC-DAC(TM):Exendin-4 is a modified Exendin-4 analogue that is covalently bound to recombinant human albumin (Recombumin(R), provided by Novozymes Delta Limited). The preformed albumin-peptide conjugate has a much longer half-life than the peptide alone. The product is a highly soluble liquid formulation that is injectable in a small volume with a small gauge needle.

Conference Call

The Company will be hosting a conference call with management to discuss these results on Tuesday, March 27, 2007 at 8:30 a.m. EDT. The call will be audio-cast live and archived for 90 days at www.conjuchem.com. A taped replay of the call will be available by telephone on March 27, 2007 through Tuesday, April 3rd, 2007 at midnight. To access the replay, dial 416-640-1917 or 877-289-8525 and enter access code 21224642.

About ConjuChem

ConjuChem, developer of next generation medicines from therapeu
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