Holmes Biopharma, Inc.
OTC Bulletin Board : HLMB

Holmes Biopharma, Inc.

April 16, 2008 09:01 ET

Holmes Biopharma, Inc.: $1.2 Million Dollar Contract Awarded

SCOTTSDALE, ARIZONA--(Marketwire - April 16, 2008) - Holmes Biopharma, Inc. (OTCBB:HLMB) announces the recent signing of a $1.2 million dollar contract with a large East Asian pharmaceutical company. The contract establishes Holmes Biopharma with another major multinational pharmaceutical company, generating substantial Phase I clinical trial revenue for the Omaha operation. Furthermore, this contract is a significant revenue source for Holmes Biopharma's Data Management Center in Toronto, Canada.

"A significant component of this contract is the revenue generated by our new Data Management Center. We are just beginning to realize the potential of this highly profitable component of the clinical research business," stated John F. Metcalfe President, CEO, Holmes Biopharma, Inc.

About Holmes:

Holmes Biopharma, Inc. and its majority owned subsidiary, Qualia Clinical Service, Inc. is a contract research organization focused on providing integrated and cost effective clinical development services. Currently, clinics operate in Omaha, Nebraska, USA, Toronto, Canada and Kiev, Ukraine, Eastern Europe. For more information about the company please visit 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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