Intelliject, Inc. Enters Into Licensing Agreement with sanofi-aventis for U.S./Canada Rights to Novel Epinephrine Auto-injector. Upfront Fees and Potential Milestone Payments Total Up to $230 Million.

RICHMOND, Va. (November 30, 2009) – Intelliject, Inc. today announced an exclusive license with sanofi-aventis U.S. for a novel epinephrine auto-injector, in the U.S. and Canada territory. Under the license, sanofi-aventis U.S. shall be responsible for manufacturing and commercialization. Intelliject will be responsible for the on-going development and for obtaining U.S. regulatory approval and has retained certain co-promotion rights in the territory.

Sanofi-aventis U.S. will pay an initial upfront payment of $25 million. Intelliject will also be eligible to receive development and commercial milestones of up to $205 million as well as tiered double-digit royalties on sales of any products commercialized under the license.

“We are delighted to have sanofi-aventis U.S. as our partner with their proven track record in and commitment to the allergy/immunology area. This partnership marks a key milestone in our quest to make our novel epinephrine auto-injector available to the millions of patients at risk for anaphylaxis. We expect it to create significant long-term value for the company; it marks the first step on our mission to bring the same innovation and patient-centric solutions to many different therapy areas. Intelliject’s unique model – drug development expertise combined with a proprietary, patient-centric delivery platform – has the potential to dramatically redefine the “Standard of Care” in multiple biopharmaceutical categories,” said Spencer Williamson, President and CEO of Intelliject.

About anaphylaxis
Anaphylaxis is a severe allergic reaction that involves a number of body systems and can be fatal within minutes. The American College of Allergy, Asthma and Immunology estimates there are up to 2,000 episodes of anaphylaxis per every 100,000 people in the U.S. each year, although the precise incidence of anaphylaxis is unknown and is likely underreported.

Anaphylaxis can occur in people with allergies to certain foods, insect stings, medications, latex or other allergens. All published national anaphylaxis guidelines recommend epinephrine as the first choice treatment in an acute episode. The vast majority of deaths from anaphylaxis occur in individuals who do not receive epinephrine in a timely manner.

About Intelliject
Intelliject is a specialty pharmaceutical company dedicated to developing combination drug/device products that empower patients to control and gain freedom from their medical conditions. Each Intelliject product in development combines an established drug, an innovative delivery platform and a supporting dossier intended to show superiority, patient preference and cost effectiveness data.

Intelliject applies rigorous selection criteria to identify areas where its patient-centric approach and proprietary technology will offer superior solutions. The company only proceeds to an active development program once it has established that incremental clinical and economic benefit is achievable. Intelliject has a focused pipeline of active programs across a number of therapeutic areas, including small molecules and biologics.

Intelliject is a privately-held company headquartered in Richmond, Virginia. For online information please visit www.intelliject.com.

Intelliject Disclaimer
This press release contains forward-looking statements, including statements regarding the expected benefits of Intelliject’s collaboration agreement with sanofi-aventis U.S. Statements that are not historical facts are based on Intelliject’s current expectations, beliefs, assumptions, estimates, forecasts and projections about the industry and markets in which Intelliject competes. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors which may affect the expected benefits of Intelliject’s collaboration and license agreements with sanofi-aventis U.S. include, but are not limited to, the risks that its novel epinephrine auto-injector may not gain market acceptance; Intelliject may not be able to obtain and maintain intellectual property protection for its products and technologies; and Intelliject may not obtain necessary regulatory approval. Intelliject cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Intelliject undertakes no obligations to update or revise these statements, except as may be required by law. Intelliject specifically disclaims responsibility for information describing sanofi-aventis U.S. and its business other than the license with Intelliject.

“We are very pleased with the early results of this first procedure,” said Per Wierup and Sten Lyager Nielsen, the cardiac surgeons who performed the surgery. “The patient is an otherwise healthy, very active 47-year-old male who preferred to not have a sternotomy or cardiopulmonary bypass to fix his severe mitral regurgitation. The NeoChord approach has successfully treated his mitral regurgitation and potentially offers him a quick return to his military career and favorite hobby, scuba diving.”

Intra-operative transesophageal echocardiography (TEE) confirmed that the patient’s severe, eccentric mitral regurgitation was reduced to zero or trace mitral regurgitation. Giovanni Speziali, MD, the cardiac surgeon who is the primary inventor of the NeoChord device also attended the procedure. “These results, although early, are equivalent to what we obtain in traditional open heart surgery for correction of mitral regurgitation,” said Dr. Speziali.

The NeoChord procedure was developed to treat sub-valvular chordal damage – the primary cause of degenerative mitral regurgitation – via minimally invasive implantation of artificial chordae tendineae. The technology was developed by Speziali and other doctors at the Mayo Clinic and exclusively licensed to NeoChord.

“We’re very pleased to have achieved the first-in-man milestone and want to extend our very best wishes to the patient and his family,” said John Seaberg, CEO of NeoChord. “This successful outcome is the result of several years of hard work by our product development staff and our clinical advisors. I’m extremely proud of the extended NeoChord team.”

About NeoChord, Inc.

Based in Minneapolis, NeoChord is a privately-held, early stage medical technology company founded to advance the treatment of mitral regurgitation by commercializing a surgical device for minimally invasive surgical implantation of artificial chordae tendineae. For more information, visit: www.NeoChord.com.

About Degenerative Mitral Regurgitation (DMR)

DMR occurs when the leaflets of the heart’s mitral valve do not close properly, usually due to rupture or elongation of the chordae tendineae (chords) that control the leaflet’s motion. During pumping, the “leak” in the mitral valve causes blood to flow backwards (mitral regurgitation) into the left atrium, thereby decreasing blood flow to the body. Mitral regurgitation is a progressive disease that left untreated can result in atrial fibrillation, congestive heart failure, and death.

Forward-Looking Safe Harbor Statement

This press release contains certain “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Such factors include, but are not limited to, our limited history of operations; our losses since inception and for the foreseeable future; our lack of regulatory approval for our products, or significant delays in the completion of our clinical trials; our ability to timely commercialize our products; our dependence on third parties to initiate and perform our clinical trials; the need to obtain regulatory approval for any modifications to our products; physician adoption of our products; ongoing regulatory compliance; our dependence on third party manufacturers and suppliers; the successful development of our sales and marketing capabilities; our ability to raise additional capital when needed; our ability to attract and retain management and other personnel and to manage our growth effectively; potential product liability claims; potential healthcare fraud and abuse claims; and our ability to obtain and maintain intellectual property protection for our technology and products. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Moderator: Ed Saxon, Academy Award-winning Producer

Panelist: George Savage, Co-Founder, Chief Medical Officer, Proteus Biomedical

Panelist: Joe Perez, Executive Vice President of Product and Marketing, Demand Media

Panelist: Kai Robert Worrell, President – International, Worrell Inc.

Worrell is proud to sponsor USC’s Body Computing and join with a body of thought leaders envisioning the future for implanted wireless devices, which can transmit up-to-the-second physiologic data to physicians, patients, and patients’ loved ones.

About the Conference

Rich in innovating technological resources, American healthcare possesses an unprecedented amount of resources and talent, and yet it has a fractured communication system that plagues outcomes, impedes progress and prevents patient satisfaction. A physician talking with a barely-clothed patient in an exam room is an antiquated model that does not always produce the best medical care. There is a medical and economic need to update the modes of communication between patients and physicians, as well as how patients’ health is managed.

Body computing can forever change the interaction between physicians and patients. Where electronic medical records have made it possible to transfer clinical data rapidly, networked devices can take this further: completing the loop by virtually eliminating the need for paper charts, desktop computers, pagers and cell phones to convey crucial information. In cases of emergency, response time is expedited tenfold as the implanted device provides emergency care physicians with the patient’s health status before the patient even arrives at the Emergency Room. On a personal level, imagine waking up every morning and receiving real-time data about a loved one on your cell phone or PDA, and the worry this new technology can assuage.

Although body computing is a relatively nascent field that raises many new issues, the caliber of speakers at USC’s Body Computing Conference is a testament to the interest among business leaders, entrepreneurs, the investment community, physicians and scholars.

The USC Body Computing Conference will bring together distinguished representatives from the fields of wireless and biotechnology, pharmaceuticals, entertainment, investment banking, and governmental organizations to educate and discuss all prospects, concerns, and long-term effects that would accompany networked physiologic monitoring as it takes its place in the advancement of the medical community.

Dan Buettner, Founder of Blue Zones
Ed Driscoll, CEO of Rational Energies
Matthew Stanford, author of WAKING: A Memoir of Trauma and Transcendence

TED is a small nonprofit devoted to Ideas Worth Spreading. It began in 1984 as a conference bringing together people from three worlds: Technology, Entertainment, Design. Since then its scope has become ever broader. Along with the annual TED Conference in Long Beach, California, and the TEDGlobal conference in Oxford UK, TED includes the award-winning TEDTalks video site, the Open Translation Program, the new TEDx community program, this year’s TEDIndia Conference and the annual TED Prize.

For more information about the TED organization please visit: www.ted.com.

Karl also filmed an additional video on Worrell’s research processes which he has posted on Vimeo.  To see the prototyping video and write up from Core 77, click here.  To see Karl’s Vimeo profile which includes his video on Worrell Research click here.

All 30 students plan to travel to the cities of Beijing and Shanghai, China for a period of two weeks in mid-May with Professor Steve Spruth.  Last semester, Steve brought his students in for a tour of Worrell’s Shanghai office after an impressive visit decided this time to get them a better base understanding of the company before their Shanghai visit.

As an official sponsor of IDSA’s Midwest Conference , Worrell participated in this last weekend’s events held at the Hyatt Regency.