Holmes Biopharma, Inc.

Holmes Biopharma, Inc.

December 13, 2006 09:01 ET

Holmes Biopharma-Acquisition of Drug Development Laboratory

SCOTTSDALE, ARIZONA--(CCNMatthews - Dec. 13, 2006) - Holmes Biopharma, Inc. (PINK SHEETS:HLMB) announced that the Company has entered into a letter of intent to purchase an existing, profitable pharmaceutical development, clinical manufacture, biotechnology, and analytical laboratory business located in the eastern United States. The name and terms of the acquisition will be disclosed after a formal purchase agreement is completed in the coming weeks.

"This strategic acquisition provides Holmes Biopharma with a profitable subsidiary, secure supply of drug samples for the contract research business, and entry into the drug development business," stated John F. Metcalfe, President of Holmes.

About Holmes:

Holmes Biopharma, Inc. is a contract research organization focused on providing integrated and cost effective clinical development services that help the pharmaceutical industry introduce new drug products rapidly from laboratory to the market. It currently has clinics in Omaha, Nebraska and Toronto, Canada. For more information about the company go to our website at www.holmesbiopharma.com.

On behalf of the Board of Directors

John F. Metcalfe, President

Certain statements in this press release constitute "forward-looking statements" within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the companies' management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein.

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