SOURCE: MitoPharm Corporation

September 04, 2007 08:05 ET

MitoPharm Corporation Increases and Escalates Shareholder Dividend

SEATTLE, WA--(Marketwire - September 4, 2007) - MitoPharm Corporation, Inc. (PINKSHEETS: MTPM), a biotechnology company, announced today that it will increase the special dividend, initially announced on August 24, 2007, to 250%, and step up the record date and payable date.

The special stock dividend will effectively split the stock forward, entitling each shareholder of record on September 14, 2007 to receive two and a half additional shares of common stock for every one share owned and will be distributed after close of trading on September 17, 2007. Shareholders do not need to exchange existing stock certificates and will receive a Direct Registration Statement at the time of the split, reflecting the newly issued shares.

Trading of MitoPharm shares on a split-adjusted basis will begin on September 18, 2007.

The difference between a stock split in the form of a dividend and a stock split not in the form of a dividend is that the shares will continue to trade under the same CUSIP number.

For further dividend announcement information, shareholders and non-shareholders are encouraged to contact the Company's Investor Relations or contact the Company's transfer agent, National Stock Transfer, Inc.

     National Stock Transfer, Inc.,
     1512 S 1100 E
     Suite B
     Salt Lake City, UT 84105-2425

     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.