DIREVO and Pfizer collaborate on therapeutic proteases

Cologne, Germany, November 12, 2007 - DIREVO Biotech AG today announced the signing of a collaboration agreement with Pfizer, Inc., New York, to develop therapeutic proteases for different targets as potential treatments for various diseases. Direvo will apply its protein-engineering capabilities to create novel proteases with engineered specificity for these targets. Under the terms of the agreement, Direvo will use its protein engineering expertise to discover and optimize preclinical candidates. Pfizer will then be responsible for the development and marketing of the respective compounds. Direvo will receive payments upon reaching certain research and development milestones as well as royalties for any resulting product that reaches the market. "We are proud that Pfizer has chosen Direvo as a partner for development of an exciting novel class of protein drugs," said Dr. Thomas von Rueden, CEO of Direvo. "This collaboration is an important commercial validation for Direvo's proven world-class technology-platform for the generation of optimized proteases with engineered specificity for various indications" he added. Proteases are a class of powerful therapeutic agents already used in the treatment of a variety of conditions. They are naturally occurring enzymes responsible in the human body for proteolysis, the process by which proteins are broken down into individual amino acids. Therapeutically, they can be engineered so as to be able to selectively proteolyse pathogenic agents such as tumor cells, viruses or bacteria. - ends - Direvo Biotech AG DIREVO Biotech AG generates superior bioengineered products and processes for industrial and pharmaceutical markets by enhancing nature's potential. The Company's portfolio includes optimized proteins, optimized bioprocesses and other bio-molecules, in research, in commercial development and on the market. Direvo develops products both independently and with global leaders such as Danisco/Genencor, Nestlé and Pfizer. Direvo Biotech is committed to a tailored approach to addressing customer needs and market opportunities. Direvo's industrial biotechnology business focuses on food & feed, and biorefinery markets. The Company provides solutions through discovery, development and scale up of enzymes, other molecules and strains. Industrial biotechnology at Direvo emphasizes environmental sustainability and the use of renewable resources. For example, collaboration with Danisco A/S yielded a significantly improved phytase enzyme that has reached the market as part of a Danisco/Genencor product. Direvo's biopharmaceutical business focuses on therapeutic antibodies and proteases. Applying its powerful and proven protein engineering capabilities, Direvo generates improved second generation therapeutics and discovers and optimizes novel first-generation therapeutics. Direvo offers early stage partnering from internal discovery programs as well as collaborations on the optimization of a wide range of therapeutic proteins. DIREVO Biotech AG is privately held and located in Cologne, Germany. Additional information is available at: www.direvo.com Contact: DIREVO Biotech AG Dr. Thomas von Rüden CEO Telephone: + 49 221 8887-125 E-mail: info@direvo.com