Our Ex President Dr. Silvano Fumero would be very proud announcing that :

Creabilis Therapeutics Raises €20 Million in a Series A Funding Led by Sofinnova Partners and in Collaboration with NeoMed

New Funds to Drive Development of Dermatology Pipeline

Ivrea, Italy – 6^th June, 2008 – Creabilis Therapeutics SpA, an emerging specialty pharmaceutical company focused on dermatology, today announces that it has raised a total of €20 million in a Series A round of funding.  The financing was led by Sofinnova Partners, which was joined in the funding round by NeoMed Management. Representatives of both Sofinnova and NeoMed will be joining the Creabilis Therapeutics’ Board following this fund raising.

Creabilis’ vision is to discover and develop innovative new medicines to address dermatological diseases and to market these directly to specialist physicians using its own sales force in certain niche indications or to co-market or license where appropriate. The global dermatology market was valued at $11.2bn in 2005 and is set to grow to over $14bn over the next five years.

Since its foundation in 2003, Creabilis has established a world-class reputation in dermatology and a rich clinical and pre-clinical pipeline based on a range of proprietary technologies. Today’s funding will be used to finance three Phase II clinical trials of Creabilis’ most advanced products: CT327 which is being developed for the treatment of psoriasis and dermatitis and CT200 which is being developed for Behcet’s Disease. In addition Creabilis will advance its pipeline of pre-clinical dermatology drug candidates which address a wide range of skin diseases.

CT327 is a new chemical entity obtained through the application of Creabilis’ proprietary MiniPEGylation approach. It is aimed at treating psoriasis, dermatitis and other conditions linked to an over growth of keratinocytes. CT327 showed strong antiproliferative activity by inhibiting the NGF receptor TrkA.

Alfredo Boni, President and co-founder of Creabilis Therapeutics, said: “We believe this is the first time an Italian start up has been financed by leading international VCs and we are proud to have attracted two experienced life science investors to support our Company.  Their support reflects the excellence of our R&D capabilities and our ability to deliver on the vision of becoming a leading specialty pharmaceutical company focused on dermatology.”

Graziano Seghezzi, Partner at Sofinnova Partners, commented: “Silvano Fumero, the late co-founder of Creabilis, and Alfredo Boni have created an excellent discovery and development company with a deep pipeline based on a range of technologies and approaches. I look forward to working with the team at Creabilis as the Company takes the next steps towards its goal of building a strong, sustainable business commercializing innovative products for skin disorders.”

For further information please contact:

Creabilis Silvio Traversa             

Citigate Dewe Rogerson

Chris Gardner or Sylvie Berrebi

Tel: +44 (0)20 7282 1050

E-mail: sylvie.berrebi@citigatedr.co.uk

About Creabilis Therapeutics SpA

Creabilis Therapeutics is an Italian specialty pharmaceutical company discovering, developing and commercializing new products to treat skin disorders, an area of significant unmet medical need and high commercial potential. Founded in 2003, Creabilis is located in the Bioindustry Park del Canavese Ivrea, Italy. Creabilis’ strategy is to commercialize its products directly through its own marketing efforts in niche indications or through co marketing or licensing with partners in larger indications. The Company has a rich pipeline of clinical and pre-clinical drug candidates focussed on dermatological indications. Its most advanced products are: CT327 for the treatment of psoriasis, dermatitis and other skin conditions characterised by the hyperproliferation of keratinocytes; and CT200 which is being developed for the treatment of Behcet’s Disease. Both products are entering Phase II clinical trials in 2008. In addition, Creabilis has a number of drug candidates in the later pre-clinical stages of development.

For more information, please visit: www.creabilistherapeutics.com

About Sofinnova Partners

Founded in Paris in 1972, Sofinnova Partners is one of Europe’s leading independent venture capital firms. With 900M€ under management, Sofinnova Partners invests in early stage companies and corporate spin-offs in the technology and life sciences sectors – companies that have the potential to become tomorrow’s global leaders. We have supported entrepreneurs in over 460 ventures throughout Europe and the United States, putting our expertise and international experience to work on their behalf.  The companies in our portfolio also benefit from our collaborative relationships with an international syndicate of co-investors, including Sofinnova Ventures, our sister firm in San Francisco. For more information, please visit: www.sofinnova.fr.

About NeoMed

NeoMed Management is an international investment management firm, based in Oslo, Geneva and the US specializing in the health care and life sciences industry. NeoMed's funds invest in pioneering, development stage companies that have the potential to achieve exceptional growth driven by innovative products.  Portfolio companies typically develop improved therapeutics, diagnostics or devices for the treatment of medical needs that are currently unmet or poorly served. For more information, please visit http://www.neomed.net