Holmes Biopharma, Inc.

Holmes Biopharma, Inc.

July 10, 2007 09:03 ET

Holmes Biopharma: Letter of Intent-Drug Acquisition

SCOTTSDALE, ARIZONA--(Marketwire - July 10, 2007) - Holmes Biopharma, Inc. (PINK SHEETS:HLMB) is pleased to announce that it has signed a Letter Of Intent to acquire the worldwide license for an existing drug that has a new and more effective delivery system. The drug is now in late Phase II stage of development.

The drug treats Ulcerative Colitis and Crohn's disease, known collectively as Inflammatory Bowel Disease (IBD) that currently affects 0.5-1% of the Western world's population. This translates to over one million people in America (525,000 Ulcerative Colitis, 490,000 Crohn's Disease) and four million people worldwide (in comparison the incidence of Brain Cancer in the USA is 17,000 cases annually). Because IBD is chronic and typically has an onset before 30 years of age, patients generally require lifelong treatment. Datamonitor estimates IBD to be a $1.3 Billion market in 2002, growing to $2.3 Billion by 2010.

About Holmes:

Holmes Biopharma, Inc. is a contract research organization focused on providing integrated and cost effective clinical development services. Holmes is also actively involved in developing new drugs and drug delivery systems. 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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