SOURCE: MitoPharm Corporation

September 20, 2007 07:23 ET

MitoPharm Corporation Announces Dividend Update

SEATTLE, WA--(Marketwire - September 20, 2007) - MitoPharm Corporation, Inc. (PINKSHEETS: MTPM), a biotechnology company ("the Company"), announced that on September 19, 2007 a stock dividend of 150% was issued inadvertently and adjusted to a 250% dividend by the end of the day, consistent with the Company's announcement on September 4, 2007.

Each MitoPharm shareholder of record on September 14, 2007 will receive a Direct Registration Statement reflecting the 250% dividend and newly issued shares.

For further information, shareholders and non-shareholders are encouraged to contact the Company's Investor Relations.

MitoPharm Corporation Investor Relations
800-858-7502
ir@mitopharm.com

About MitoPharm

MitoPharm, Inc. is an active research & development biotechnology firm that will operate in marketing, and sale of drugs, dietary supplements, and functional beverages. The initial products are based on a newly formulated compound, (-) Schisandrin B, that is the result of over 15 years of research and development by one of its founding shareholders, the Hong Kong University of Science and Technology.

Published scientific studies have confirmed that (-) Schisandrin B enhances the mitochondrial glutathione antioxidant status, a crucial factor in maintaining mitochondrial function and cell survival, plus it also induces the expression of heat shock proteins, another group of important molecules for cell protection. These biochemical actions differentiate (-) Schisandrin B from other existing, known compounds, either synthetic or naturally occurring, in its ability to protect organs including the heart, the liver, and the brain.

For further MitoPharm information, please visit www.mitopharm.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.