Business Update

IntraBiotics acquires R&D programs, hires senior management team, changes name

Published in Vaccine Weekly, January 24th, 2007

Ardea Biosciences, Inc., formerly known as IntraBiotics Pharmaceuticals, Inc., (IBPI) announced that it has acquired significant intellectual property and other assets from Valeant Pharmaceuticals International (VRX) and hired a new senior management team.

With these developments, the company plans to pursue three pharmaceutical programs focused on the development of novel treatments for HIV, cancer and inflammatory diseases. The company changed its name to Ardea Biosciences, Inc. effective December 21, 2006 and expects that its common stock will be traded under the new name and a new ticker symbol (to be assigned by Nasdaq) in the near future.

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Source: Vaccine Weekly (2007-01-24)

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