Dr. James W. Ryan and IP Holdings Form Ryogen LLC to Commercialize Key Genomic Patents

Suffern, NY - April 5, 2005 - IP Holdings LLC (IPH), an IP-centric idea incubator headquartered in Suffern, New York, announced today that it has formed with Dr. James W. Ryan a genomic start-up venture, Ryogen LLC, to commercialize a valuable IP portfolio developed by Dr. Ryan that pertains to extensive segments of the human genome sequence and its applications to microarray manufacturing, gene testing and development of therapeutic agents.

Dr. James Ryan, who sequenced the gene XPNPEP2 that codes for an important protein, membrane-bound aminopeptidase P (AmP), has received US Patent No. 6,399,349 entitled "Human Aminopeptidase P Gene". This gene is a significant marker for hypertension, angioedema, rejection of kidney transplants, certain tumors and other diseases. This valuable patent covers cDNA and gDNA sequences coding AmP, a method of producing AmP, the diagnostics for detecting AmP abnormalities, and prevention and treatment of medical conditions associated with the mutation of the AmP gene.

Patent applications currently pending before the US Patent and Trademark Office are directed to other genes playing important roles in various cancers, diabetes and obesity, hepatitis C, atherosclerosis, Alzheimer's and several other diseases.

The genomic IP portfolio assigned to Ryogen includes 17 patents and patent applications. Contrary to the fading concept of "junk" DNA, the AmP patent and the pending patent applications place special focus on non- coding sequences unique to each target gene. In addition to providing a greatly expanded scope for detection of functionally significant mutations, these unique non-coding sequences will likely be found to play a key role in development of optimized gene therapy and preparations of superior transgenic animal models and recombinant proteins.

James W. Ryan, MD, Ph.D., a prominent research physician and biochemist who was the first to discover aminopeptidase P, has published more than two hundred research papers and obtained 32 patents. Dr. Ryan will serve as Chief Scientist of Ryogen.

"We plan to pursue a comprehensive licensing program to ensure the broad proliferation of Ryogen's IP," said Dr. Alexander Poltorak, Managing Director of IP Holdings. "Dr. Ryan has sequenced important genes in the human genome, which will undoubtedly have profound effects on gene testing and drug development."

"I could not be more enthusiastic about this new venture," said Dr. Ryan. "Working with IP Holdings and drawing on its extensive management and commercial experience will give us the opportunity to translate our discoveries into practice for the benefit of patients and biotechnology."

Ryogen is exploring a number of alternatives pertaining to the licensing of the AmP Patent, including ways to make this gene widely available for research so as to promote the development of genetic testing and treatment.

About Ryogen LLC

Ryogen LLC, headquartered in Suffern, NY, is a genomic start-up and a portfolio company of IP Holdings LLC, an idea incubator also located in Suffern, NY. In addition to U.S. Patents Nos. 6,399,349 and 7,273,718, Ryogen owns an important IP portfolio pertaining to the human genome.  Those inventions are directed to genes of lipoprotein-associated phospholipase A2, Snare YKT6, glucokinase, adipocyte enhancer binding protein, POLD2 polymerase, SMS3, Phemx (TSSC6), TSSC4, HASH2, ribosomal protein L26, MDM2, carboxypeptidase D, carboxypeptidase M, RhoC, retinol binding protein, resistin, syntaxin and the CD81 antigen.

For further information on Ryogen contact Valeria Poltorak, Ryogen LLC, Montebello Park, 75 Montebello Road, Suffern, NY 10901; telephone: (845) 368-4000 x111; or e-mail: [email protected].

About IP Holdings LLC

IP Holdings LLC is an idea incubator with a focus on patent commercialization. For further information on IP Holdings contact IP Holdings LLC, Montebello Park, 75 Montebello Road, Suffern, NY 10901; telephone: (845) 368-4000; e-mail: [email protected] or visit www.ip-holdings.com.