Alken, 6 0ctober 2008. PharmaNeuroBoost N.V (PNB), based in Alken, Belgium, is set to raise EUR 6.5 M, of which EUR 2.5 M from Saffelberg Investments (Jos Sluys), EUR 2 M from Biovest (Rudi Mariën) and EUR 2 M from KBC Private Equity. The funds raised will be used to carry out further research aiming at market authorization of PNB's two lead products PNB01 and PNB02.

PNB is dedicated to further develop the PNB01 and PNB02 opportunity as best in class therapeutics for the central nervous system (CNS).
Both innovatively designed drugs are combination medicines that strive to reinforce the effect of SSRIs, an important class of anti-depressants (PNB01) and of atypical antipsychotics (PNB02).

Erik Buntinx, MD-Psychiatrist, CSO, who discovered the potential benefit of the PNB01 and PNB02 combination in his clinical practice in Belgium: "After getting a European patent grant several weeks ago, PNB will be able, with this additional funding, to develop a FDA and EMEA oriented regulatory approval program to enter phase III with PNB01 and phase II with PNB02 by the end of 2009. Obviously, these are very important milestones for the company. Therefore, as founder-director, I'm delighted to welcome our new investors Saffelberg Investments, which led this round, KBC Private Equity and Biovest with Rudi Mariën, one of the founding fathers of the biotech industry in Flanders."

Peter Verhaeghe, chairman of the board: "At the end of the first quarter of 2009, PNB is expecting top line results of its Phase II study with PNB01 on 165 major depressed patients. With these results and results of planned additional studies bringing PNB01 potentially in Phase III, together with the substantial reinforcement of the management team during the next weeks, PNB will be able to reach out towards an important value step." 

Jos Sluys, Founder-CEO of Saffelberg Investments: "Based on an exceptional business case and thorough due diligence with a positive outcome ("freedom to operate") by the world class IP office Boult, Wade, Tennant, based in London, we are happy to lead this investment round in PNB. Together with the Board of Directors we hope to make PNB a new success story in the Flemish biotech industry."

PNB's lead programs are PNB01 and PNB02.
PNB01 is a combination of Low-Dose Pipamperone, PNB' proprietary asset, and the antidepressant Citalopram. Preliminary clinical data suggest that PNB01 has a higher response rate with regard to symptom reduction in depression than currently marketed antidepressants. The onset of action is significantly faster and it is generally well tolerated. Currently, a Proof Of Concept / Phase II clinical trial on 165 major depressed patients is up and running in the Glasgow area with currently more than 130 patients included. Top line results are expected at the end of the first quarter of 2009.

The second program is the combination of Low-Dose Pipamperone and atypical antipsychotics (AP's). Current AP's have low to moderate efficacy, with a high burden of adverse events. PNB02 mimics the receptor occupancy profile of the first in class antipsychotic Clozapine, without the unwanted high antagonism towards the histaminergic and acetylcholine muscarinic receptors responsible for important adverse events.

Contact information
PharmaNeuroBoost N.V. (PNB)
Address: Alkerstraat 30A - 3570 Alken
Year of incorporation: 2006
Telephone: +32 11 31 62 72
Fax: +32 11 31 62 72
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