Lux Biosciences Expands Biomaterials Technology License From Rutgers University for Controlled Ocular Delivery of Pharmaceuticals.

- Adds Patent Estate Covering Novel Second-Generation Polycarbonates for Ophthalmic Use -

JERSEY CITY, N.J. -- Lux Biosciences, Inc., a privately held biotechnology company specialized in the field of ophthalmic diseases, announced today that it has expanded its existing technology licensing agreement with Rutgers, The State University of New Jersey. The new agreement adds exclusive access for ophthalmic use to some of the University's polycarbonate intellectual property estate, in addition to the polyarylate patent portfolio that Lux Biosciences licensed from Rutgers in September 2006. This additional technology platform gives Lux Biosciences access to a broader range of polymers that are all bioerodible and based on similar monomeric building blocks, which provides a broader range of features for the controlled long-term delivery of medications to the eye. Financial Terms of the agreement were not disclosed.

"These second-generation polycarbonates are a valuable addition to the Lux Biosciences portfolio of licensed Rutgers technologies that gives us further flexibility in choosing the best possible technology and tailoring it to the molecule at hand," said Ulrich Grau, Ph.D., president and chief executive officer of Lux Biosciences.

The license includes several issued patents that specifically disclose methods of generating drug release formulations for peptides using polymers as the drug delivery matrix. A specific polycarbonate polymer is currently being explored clinically as a next generation bioerodible and radio-opaque vascular stent by Rutgers' partner in this field.

"Second-generation polycarbonates are among the most advanced biomaterials currently available. I am convinced that this class of biomaterials will find significant medical applications in drug delivery, medical devices, and regenerative medicine," said Board of Governors Professor Joachim Kohn who led the team of Rutgers researchers and students who invented this technology.

About the Polycarbonate Technology

Based on a new, combinatorial design approach, the library of second-generation polycarbonates contains more than 10,000 individual polymer compositions. These materials are derived of natural metabolites, nutrients, and "generally recognized as safe" (GRAS) components such as poly(ethylene glycol). In preliminary studies, second-generation polycarbonates were shown to be useful drug delivery matrices and excellent growth substrates for a wide range of mammalian cells, indicating a lack of cytotoxicity. One of the advantages of the polycarbonate technology is the ability to use structure-function relationships and computational models to identify polymers with optimal properties for specific medical applications. In this way, the cost and risk of the product design cycle can be reduced.

About Rutgers, The State University of New Jersey, and the Center for Biomaterials

Established in 1766, Rutgers is America's eighth oldest institution of higher learning and one of the nation's premier public research universities. Serving more than 50,000 students on campuses in Camden, Newark and New Brunswick/Piscataway, Rutgers offers more than 280 bachelor's, master's, doctoral and professional degree programs. The university is home to 30 degree-granting schools and colleges, and more than 150 specialized centers and institutes. With 320,000 living alumni, Rutgers graduates are major contributors to all sectors of contemporary life.

The New Jersey Center for Biomaterials is a research consortium of three universities (Rutgers, New Jersey Institute of Technology, and University of Medicine and Dentistry of New Jersey), about 20 corporate partners including large and small companies with interests in biomaterials science, and a diverse group of research-active faculty. Established in 1997, the New Jersey Center for Biomaterials has grown into a major, federally funded research center with an extensive biomaterials patent portfolio So far, six companies have licensed biomaterials technologies developed at the Center.

For more information about the New Jersey Center for Biomaterials, please visit the Center's web site at www.njbiomaterials.org

About Lux Biosciences

Lux Biosciences is a privately held biotechnology company dedicated to the identification, optimization, development and commercialization of products for the treatment of ophthalmic diseases. The company's business strategy is characterized by:

* A focus on compounds already marketed or with clinical proof-of-concept in non-ophthalmic indications that Lux Biosciences will develop as unique, targeted therapies for corresponding ophthalmic diseases, with potentially greater efficacy and safety than existing treatments.

* A clinical-stage portfolio of projects including: i) LX211, a next-generation calcineurin inhibitor that has potential in several ophthalmic diseases and, as such, represents a pipeline of product opportunities; and ii) LX201, a silicone matrix ocular (episcleral) implant that steadily releases therapeutic doses of cyclosporine A locally to the eye. Both the LUMINATE pivotal clinical program for LX211 for the treatment of uveitis, as well as the LUCIDA pivotal clinical program with LX201 for the prevention of corneal transplant rejection were initiated in early 2007.

* Proprietary product-enabling bio-erodible polymer technologies that facilitates targeted and sustained delivery of molecules to the eye.

For more information on Lux Biosciences, please visit the company's website at www.luxbio.com.