We are a development-stage company engaged in the discovery, development, and commercialization of first-in-class, targeted therapeutic compounds for advanced treatment of cancer, liver, microbial and inflammatory diseases. Our initial focus is the development of a new generation of anti-cancer treatments using carbohydrate polymers to increase survival and improve the quality of life for cancer patients. We believe that the need to improve drug therapies, particularly anti-cancer agents, is significant and represents a large market opportunity.

DAVANAT®, our lead pipeline candidate, is a proprietary chemical entity that is currently in Phase II trials for first-line treatment of colorectal and biliary cancer. Our targeted therapeutic compounds can also be used to treat other serious diseases, such as liver and kidney fibrosis. We have entered into research collaborations with the Mt. Sinai School of Medicine in New York to study the anti-fibrotic effects of the Company’s novel carbohydrate compounds on liver fibrosis; with the Brigham and Women’s Hospital in Boston to evaluate the anti-fibrotic effects of these compounds to treat acute and chronic kidney disease; and with the University of California at Davis and Fudan University in Shanghai to conduct anti-fibrosis tests. In animal models, our compounds have shown to significantly reduce collagen expression and reverse fibrosis. Whereas previous in vitro data has only indicated a reversal of fibrosis markers, in proof-of-concept animal studies during October 2007, the compounds significantly reduced collagen expression and reversed liver fibrosis.