Milestone Biosciences, LLC Further Strengthens Executive Management Team

Thursday, August 14, 2008 General News
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ALTAMONTE SPRINGS, Fla., Aug. 14 Milestone Biosciences,LLC, a privately held specialty biotechnology company focused on in-licensingand commercialization of niche oncology products, today announced theappointment of Eric P. Loukas as Chief Executive Officer, effective August 12,2008. Current President, CEO and Co-founder, Frank Jacobucci, will becomePresident and Chief Operating Officer and will continue to be heavily involvedin the company's development, growth and expansion.

"We are pleased to welcome Mr. Loukas to our team. His leadership skillscombined with his strategic and industry insight will provide Milestone withthe depth of expertise required as we move forward at an accelerated pace,said Frank Jacobucci, Milestone's President and COO.

"I am excited to join Milestone Biosciences at this important stage of itsgrowth," commented Mr. Loukas. "The company's unique business model willprovide the opportunity for cancer patients to have access to a broader rangeof therapies and I look forward to working with the rest of the team and ourpartners to realize the full potential of this innovative company."

Mr. Loukas brings to the team over 21 years of industry experience. Priorto joining Milestone, Mr. Loukas was Executive Vice President, Chief OperatingOfficer, General Counsel and Corporate Secretary of MGI PHARMA, INC., where hewas responsible for MGI's commercial, medical affairs, manufacturing,regulatory, quality, government affairs, reimbursement and legal operations.Mr. Loukas joined MGI in July 2004 as Senior Vice President, General Counseland Corporate Secretary. Prior to joining MGI, he served as Division Counselat 3M Pharmaceuticals, a division of 3M Company, where he provided legal andstrategic counsel to the global management team of a $1 billion pharmaceuticalbusiness. Early in Mr. Loukas' career he spent six years, first in researchand then pharmaceutical sales, at Bristol Myers, Janssen Pharmaceutical andMcNeil Pharmaceutical. He received his B.A. degree in experimental psychologyfrom The State University of New York at Albany, an M.S. degree inpharmacology from Rutgers University and J.D. degree from The John MarshallLaw School.

About Milestone

Founded in AltaMonte Springs, Florida in January 2007, MilestoneBiosciences, LLC is a privately held specialty biotech company with offices inFlorida, Minnesota and New Jersey, that focuses on in-licensing andcommercializing niche oncology products that would otherwise have limitedexposure in the oncology marketplace. Milestone is dedicated to utilizing itsbroadly-based commercial expertise in oncology to make these niche oncologyproducts available to patients whose treatment options are limited, or wherethere are recognized unmet medical needs. Milestone also seeks to partnerwith smaller R&D-focused companies and other companies with no U.S. commercialpresence, to commercialize their niche oncology products and thus enable themto continue doing what they do best.

SOURCE Milestone Biosciences, LLC

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