Azure Biotech Inc.

Azure Biotech, Inc. is a private, newly formed biotechnology company which has acquired rights for development of a novel formulation of lasofoxifene targeting an underserved market in women's health from Ligand Pharmaceuticals. The Azure team is uniquely qualified to bring lasofoxifene forward for targeted new indications and formulations. Azure plans to rapidly build upon the extensive safety and efficacy data already available from trials completed with an oral formulation in more than 15,000 women. The Company's Board includes uniquely qualified seasoned experts, including Dr. David Thompson, a seasoned pharmaceutical executive who directed the Pfizer team in the discovery of oral lasofoxifene through Phase 3 development and regulatory filings, and two seasoned pharmaceutical executives with prior expertise in launching new ventures, Dr. Susan Levinson and Ms. Valerie Ceva. Dr. Steven R. Goldstein, MD, a globally recognized clinical leader in women's health is Chair of the Scientific Advisory Board. Lasofoxifene is an estrogen partial agonist for osteoporosis treatment and other diseases that was discovered through the research collaboration between Ligand and Pfizer that began in 1991. The oral, 0.5 mg form of lasofoxifene tartrate was developed by Pfizer under the trade name Fablyn®, and progressed through regulatory approval in the EU. After Pfizer acquired Conbriza® (bazedoxifene), a similar SERM program, from its acquisition of Wyeth, rights to all forms of lasofoxifene reverted to Ligand in early 2011.