Press Release

ChemDiv and AdipoGenix Extend Discovery and Medicinal Chemistry Collaboration

BOSTON, June 23, 2005 – Research Focuses on the Discovery of Novel Compounds for the Treatment of Obesity, Type 2 Diabetes and Associated Metabolic Disorders.

SAN DIEGO, and BOSTON, June 23 /PRNewswire/ -- ChemDiv, Inc. and AdipoGenix, Inc. have announced that AdipoGenix has been awarded a SBIR grant from NIDDK for a collaboration with ChemDiv to further progress small molecules that target human fat tissue as therapy for obesity and type 2 diabetes. ChemDiv supplies AdipoGenix with specific small molecule compound libraries, medicinal and custom chemistry services to support AdipoGenix's unique biology for discovering compounds that reduce fat content of human fat cells and identifying mechanisms of action and molecular targets for active compounds.

"Our screening collaboration with ChemDiv has produced a promising lead compound with exciting mechanism of action and molecular target," said Dr. Gerri Waloga Vice President of AdipoGenix. "This grant award supports the lead optimization stage of our ChemDiv collaboration with the goal of achieving candidates for IND-enabling preclinical development."

"We are very pleased that AdipoGenix has selected ChemDiv as its partner on the grant to utilize ChemDiv's strong drug discovery chemistry expertise for development of a new drug to treat obesity", said Dr. Ilya Okun, VP of R&D at ChemDiv, Inc. "Having an extensive experience in innovative small molecule synthesis and medicinal chemistry, we are confident that this partnership will lead to a successful fulfillment of the project goals" -- he continued.

About ChemDiv, Inc.
ChemDiv Inc. (ChemDiv) is a global chemistry-driven contract research organization focused on the delivery of new scientific innovation and products and services that meet the drug discovery needs of its partners. ChemDiv provides partners with access to Discovery Outsource(TM) a full service drug discovery capability encompassing; medicinal chemistry; pre-clinical development; synthetic chemistry; diverse & focused screening libraries, global logistics. For additional information, please visit http://www.chemdiv.com.

About AdipoGenix Inc.
AdipoGenix is a Boston-based biopharmaceutical company developing pharmaceuticals that target human fat tissue to treat obesity and its co-morbidities, including diabetes and cardiovascular disease. Through its proprietary human fat cell-based technology, AdipoGenix identifies nontoxic, small molecule compounds that reduce the fat content in human fat tissue, which is expected to provide therapeutic benefit for these important diseases.

Contacts:
Ed Cannon
President and CEO
AdipoGenix Inc.
617-638-6394
Kari Lampka
MacDougall BioCommunications, Inc.
(508) 647-0209
klampka@macbiocom.com