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PHOSPHAGENICS RELEASES INTERIM RESULTS OF TOPICAL INSULIN STUDY

August 28, 2006

Phosphagenics has announced the interim results from its Phase I transdermal insulin trial, which demonstrate that insulin was successfully delivered through the skin using transdermal carrier technology.

From one topical application of TPM-02/Insulin applied as a gel, insulin was shown to safely penetrate the skin and then be delivered into the bloodstream over a sustained period of time. Phosphagenics' patented transdermal carrier technology utilizes natural dermal transport mechanisms to rapidly transport small and large molecules across the skin without disrupting or damaging its surface.

The primary objective was to confirm the safety and tolerability of the gel, and this was achieved with no adverse reactions. The study results also show the ability of TPM-02/Insulin to deliver insulin into the bloodstream at levels high enough to produce significant effects.