Holmes Biopharma, Inc.
OTC Bulletin Board : HLMB

Holmes Biopharma, Inc.

September 07, 2005 09:02 ET

Holmes Biopharma Enters into Agreement to Acquire Drug Research and Development Business

SCOTTSDALE, ARIZONA--(CCNMatthews - Sept. 7, 2005) - Holmes Herbs, Inc., (OTCBB:HMHB), announced today that it has entered into an agreement to purchase a controlling interest in Qualia Clinical Research Services Ltd. ("Qualia"). Under the terms of the agreement, the Company, via its Holmes Biopharma division, will fund a minimum of US$1,500,000 to expand Qualia's existing clinical drug research business. The acquisition is set to close on or before November 30, 2005.

Qualia is managed by an experienced group of doctors and scientists. Dr. Sohail Khattak, MD, President and CEO of Qualia, has served as an advisory board member for leading drug companies including Abbot, Novartis, Jansen Ortho and Shire Pharmaceuticals. His body of work includes research, design and supervision of Phase I, II, III and IV trials, organizing first-in man studies, setting up bioequivalence, bioavailability and ADME studies. He has also overseen the writing and implementation of clinical Standard Operating Procedures working with the FDA and other international regulatory bodies.

"The acquisition of Qualia and addition of Dr. Khattak to our management team is part of our strategy of becoming a leader in contract drug research. Qualia provides integrated and cost-effective clinical development services that will help the pharmaceutical industry to introduce new drug products rapidly from laboratory to the market," stated John F. Metcalfe, President and CEO of Holmes.

On behalf of the Board of Directors

John F. Metcalfe, President and CEO

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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