Altea Therapeutics Appoints Steven P. Damon To Lead Its Business Development Team.

ATLANTA -- Altea Therapeutics, an emerging pharmaceutical company developing transdermal patches for the sustained delivery of proteins and highly water-soluble drugs, today announced the appointment of Steven P. Damon to the position of Vice President, Business Development to lead the Company's efforts in product licensing and portfolio development.

Prior to joining Altea Therapeutics, Steven Damon was at Durect Corporation, Cupertino, Ca, where, as Executive Director, he completed several product partnership agreements with major pharmaceutical companies, was responsible for other commercial activities including the Alzet brand drug delivery pumps for animal research, and was President of a wholly owned subsidiary - Absorbable Polymers International. He was previously at Kimberly-Clark Professional Healthcare, Roswell, Ga, with lead responsibilities for commercial development of the healthcare business in Europe and key responsibilities for a number of major acquisition deals.

"As our lead products continue their fast-paced clinical development, we sought to appoint a successful business development executive to secure product commercialization agreements with major pharmaceutical companies," stated Eric Tomlinson, Ph.D., President and Chief Executive Officer of Altea Therapeutics, who continued, "Steve Damon fits our needs exactly. We are delighted that he joins us as we move to out-license our lead products for pain management and diabetes control and to develop additional proprietary products with the pharmaceutical and biotechnology industry."

In commenting on his appointment, Steven Damon added, "Altea Therapeutics is creating a diversified pipeline of products that exploit its patented breakthrough transdermal technology. I am pleased to be part of the Company as it implements its strategy of entering into product licensing arrangements with major pharmaceutical and biotechnology companies."

About Altea Therapeutics

Altea Therapeutics is an emerging private pharmaceutical company focused on developing and commercializing a broad portfolio of pharmaceutical products based on a new class of advanced transdermal patches that deliver sustained therapeutic levels of proteins and highly water-soluble drugs in a convenient, painless and cost-effective manner.

Altea Therapeutics has demonstrated in several clinical studies that its patented PassPort(TM) transdermal system achieves what existing patches are unable to do, namely the continuous delivery through the skin of proteins and water-soluble drugs - compounds typically administered by painful needle injections.

The Company is conducting Phase 2 clinical trials in the U.S. with a daily hydromorphone patch for the rapid management of moderate to severe pain, and Phase 1 clinical trials in the U.S. with insulin patches that provide continuous delivery of basal levels of insulin for people with diabetes.

NOTE: PassPort(TM) is a trademark of Altea Therapeutics Corporation. Any other trademarks referred to belong to their respective owners.

The statements in this press release regarding the products of Altea Therapeutics in development, product development plans, and projected financial results, are forward-looking statements involving risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the ability of Altea Therapeutics to both complete the design, development, and manufacturing process development of its products, manufacture and commercialize its products, obtain product and manufacturing approvals from regulatory agencies, manage its growth and expenses, finance its activities and operations, as well as marketplace acceptance of its products.