Press Release
June 12, 2003

Collaboration with Interlink Biotechnologies Cures Ills of Peptide-Based Therapeutics

BRENTWOOD, TN AND PRINCETON, NJ - June 12, 2003 - VDDI Pharmaceuticals, a biopharmaceutical development company, today announced it has acquired a portfolio of patents and patent applications from Interlink Biotechnologies LLC (ILB) that will enable the successful implementation of medical peptides.

Under the terms of the agreement, VDDI claims sole and exclusive ownership of ILB's worldwide patent portfolio for reverse antimicrobial medical peptide technology and retains all rights for human, veterinary and agricultural applications.

The acquisition culminates a year-long collaborative research agreement between VDDI and ILB that established the proof of principle for the technology for use in human and animal infectious diseases. Evidence from this collaboration demonstrates the potential for this technology to enhance the stability of medical peptides, reduce previously identified side-effect liabilities inherent to other medical peptides, while retaining or enhancing the antimicrobial activity of these compounds. Based upon these results, VDDI is poised to proceed to animal testing of lead compounds generated during the VDDI/ILB collaboration.

"We appear to have solved many of the major problems that have plagued peptide-based therapeutics including poor physical and chemical stability, short half life and high cost of goods," said Dr. R. Stephen Porter, President and CEO of VDDI. "As a result of our efforts in the past year, we have truly made significant strides in this respect."

Additionally, terms of the agreement provide that Dr. Nicholas P. Everett, ILB's Chief Scientific Officer, can become a member of the Scientific Advisory Board of VDDI, as well as remain an active consultant to the medical peptide project.

VDDI Pharmaceuticals is a pharmaceutical development company formed to in-license and develop therapeutic indications in the areas of infectious disease, cancer and cardiovascular disease. VDDI targets products that have narrow indications for life-threatening medical conditions and that have the potential for fast track approval. VDDI focuses on pharmaceutical products where general proof-of-principle has been established in pre-clinical or human testing, and where the properties are novel and offer significant potential advantages to what is currently either already in the market or in development. VDDI acquires rights to compounds from both private and public partners, pursues fast track approval, develops compounds through Phase II of the required regulatory approval processes and then seeks to license these products to partners for late stage development and marketing.

Statements included in this press release that are not historical in nature are "forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including but not limited to, our failure to successfully commercialize our products, costs and delays in the development and FDA approval of our products; our inability to enter into or maintain, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of our products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others general economic conditions; the failure of our products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

CONTACT: R. Stephen Porter, Pharm.D.
President and CEO
VDDI Pharmaceuticals
1616 Westgate Circle
Brentwood, TN 37027-0018

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