Ruxton Pharmaceuticals, Inc. Secures $5.2 Million Series A Financing
Baltimore and National VCs Invest in Neurodegenerative Disease Fight

Baltimore, Maryland - July 26, 2004 - Ruxton Pharmaceuticals, Inc., a pharmaceutical company focused on discovering, developing and marketing drugs for the treatment of neurodegenerative diseases, announced the completion of a $5.2 million financing. Domain Associates, New Enterprise Associates, and Aberdare Ventures co-led this Series A financing. Proceeds from this financing will be used to identify and prepare drugs for clinical studies.

"I am thrilled at the very high quality and financial depth of the investors in Ruxton's Series A financing," said David Block, M.D., M.B.A., President and Chief Executive Officer of Ruxton Pharmaceuticals. "We could not be more pleased to have attracted these investors. It's apparent that they clearly understand the very compelling technology and products licensed from The Johns Hopkins University that form the basis of Ruxton Pharmaceuticals."
The Company's technology comes from the laboratories of The Johns Hopkins University Professor Jeffrey Rothstein, M.D., Ph.D. Dr. Rothstein is known internationally for his work in synaptic biology, glutamate transporters, and pre-clinical and clinical studies of drugs to help patients with Amyotrophic Lateral Sclerosis (ALS, "Lou Gehrig's disease").

Pharmaceutical companies have demonstrated the benefit of drugs that block the action of glutamate at its receptors in models of a variety of neurodegenerative diseases, including ALS, Huntingdon's disease, Parkinson's disease, and Alzheimer's disease. Ruxton has licensed compounds from The Johns Hopkins University that decrease synaptic glutamate levels in a completely novel way, by increasing the density of functioning glutamate transporters. The company's research will continue through university-based sponsored research agreements.

"Speaking for the entire syndicate of investors, we're very excited with both the team and the technology behind Ruxton Pharmaceuticals," said Nicole Vitullo, Domain Associates general partner and Ruxton board member. "I'm pleased to join with Jim Barrett of New Enterprise Associates on the board and with Paul Klingenstein of Aberdare Ventures on this investment. Ruxton has a bright future and all three VC firms are excited to help in building a great new Company."

About Ruxton Pharmaceuticals
Founded in 2004, Ruxton Pharmaceuticals is an emerging pharmaceutical company that has been formed to discover, develop and market drugs for the treatment of neurodegenerative diseases. Ruxton is focused on important indications with serious unmet medical needs such as ALS or "Lou Gehrig's" disease.