We are currently developing five products that will target cancer, pancreatitis, muscular dystrophy, diabetes, and influenza. All of our drug and vaccine candidates are directed at unmet medical needs and major commercial markets. UMN-02 evolved from our internal efforts and utilizes a repurposed serotonergic antagonist as a potential candidate for the treatment of acute and chronic pancreatitis. Clinical trials to evaluate the ability of UMN-02 to prevent post-ERCP induced pancreatitis were conducted at Japanese universities and yielded statistically significant results on multiple endpoints. Pancreatitis is an unmet medical need and addresses a market that is extremely underserved. Few therapeutic options exist for sufferers in Japan and no therapeutics options exist outside of Japan. Because UMN-02 is repurposed program based around a currently marketed drug, safety has been established. UMN-02 is now under preparation for advanced clinical study and we are working to forge alliances with both domestic and overseas pharmaceutical companies.   UMN-05, which is produced by recombinant protein expression, is a vaccine against a highly pathogenic new influenza virus which is considered as variant strains of avian influenza and may cause pandemic (UMN-0501), and seasonal influenza responsible for yearly epidemic outbreaks(UMN-0502). In June, 2006, UMN Pharma Inc. signed a licensing agreement with Protein Sciences Corporation (PSC) in the USA to obtain an exclusive license to make, use and sell PSC’s new recombinant influenza vaccines. UMN-05 is produced by the expression of recombinant protein in a cell line. PSC`s manufacturing technology which derives from the expression of recombinant protein in a cell line enables the production of larger quantities of safer and more effective vaccines in a shorter time period as compared to the current licensed influenza vaccines in Japan which are produced in eggs. Unmet medical needs still exist in the field of new influenza, and we are now working to meet the drug safety needs. In the US, PSC’s proprietary product FluBlØk™ is expected to obtain market approval before the 2008/09 influenza season.   UMN-01 is a novel anticancer candidate discovered by scientists at the University of Tokyo. It is a low molecular weight, small molecule compound and acts as a down-regulator of GRP78. . This is a first-in-class down-regulator of GRP78 and has demonstrated marked tumor suppressing actions. Specifically under the condition of glucose deprivation, which can be observed in cancer tissues, UMN-01 induces cell death via GRP78 down-regulation at the transcriptional level. In mouse xenograft models, UMN-01 has shown pharmacological efficacy against human stomach, pancreatic, liver and lung cancer. We are conducting non-clinical studies (in vivo and in vitro) and are currently negotiating with many companies regarding alliances.       UMN-03 is a fusion protein being developed for myogenic and neurogenic diseases with a novel mode of action which was discovered at the University of Tokushima. The target of this biological drug candidate is so-called myostatin. Substantial published data indicate that blocking the action of myostatin can promote extra muscle growth, thus providing potential therapeutic advantage for patients with congenital intractable myopathy such as Duchenne muscular dystrophy(DMD). Furthermore, UMN-03 can reduce fat tissue and could thereby provide a new therapeutic approach for type II diabetes or obesity. We are currently negotiating with several pharmaceutical companies both domestically and internationally.       Vaccine for Pseudomonas aeruginosa P. aeruginosa easily develops resistance against antibiotics. A vaccine for P. aeruginosa is badly needed in order to control opportunistic infections that especially occur in elderly people, and to reduce the risk of pulmonary infection in patients with Cystic Fibrosis. This vaccine candidate is based on the state-of-art research results with Toll-Like Receptors and expects to be a breakthrough able to overcome issues which have not been solved by numerous companies and researchers in over 30 years. Vaccine manufacturing and confirmation of efficacy in vivo is on-going. Read through compounds This project involvesa small molecule compound with a “read through” effect which in theory should be broadly effective in genetic diseases. For instance it could be effective in 70% of patients with Hurler’s syndrome and 10-15% of Duchenne muscular dystrophy cases. We have already confirmed protein expression in animals with reporter genes and are evaluating efficacy in vivo. Simultaneously, we are evaluating business opportunities.