SOURCE: MitoPharm Corporation

August 21, 2007 08:05 ET

MitoPharm Receives Notice of a U.S. Patent Allowance for Its Newly Discovered Compound

SEATTLE, WA--(Marketwire - August 21, 2007) - MitoPharm Corporation, Inc. (PINKSHEETS: MTPM), a biotechnology company, today announced that the United States Patent and Trademark Office has issued the company a notice of allowance for a patent 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. A notice of allowance is a written notification that a patent application has cleared an internal review and is nearing issuance.

"The patent is a very important component of our intellectual property," said Dr. Robert Ko, CSO of MitoPharm Corporation. "The acceptance of this patent is a significant milestone for MitoPharm because it continues to solidify the positioning of our technologies and products."

"This is the first of what is hoped to be many 'Notice of Allowance' communication from the United States Patent and Trademark Office," added Dr. Ko.

About MitoPharm

MitoPharm, Inc., www.mitopharm.com, is a biotechnology company that will operate in research & development, 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.

About HKUST

Hong Kong University of Science and Technology (HKUST) is a dynamic, international research university that is recognized as a leading science and technology institution. With an all PhD faculty, HKUST has established itself as an intellectual powerhouse and is securing a place at the top of the academic world. It's an innovator in teaching and research, plus HKUST's top-class facilities have lead to groundbreaking work in science, engineering, business, humanities and social science. For more information, visit www.ust.hk.

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.