1. AKTIV-DRY Welcome to Aktiv-Dry

2. AKTIV-DRY What We Do Project management and systems integration –Craft synergistic relationships License our technologies –Technology transfer Build/Assemble Bubble Dryers and PuffHalers to clients’ specs –cGMP unit at SIIL in India –Special unit for Sandia’s “energetic” compounds Formulate clients’ compounds as dry powders –Alternative to lyophilization –Improved stability –Remove residual solvents –Engineer particle size for Regional deposition by inhalation or other administration Enhancing dissolution rates

3. AKTIV-DRY Intellectual Property Five domestic patents –CAN-BD, Spray-freeze drying Foreign patents –Europe, U.K., Germany, France, Switzerland, China, Australia –Japan application Three domestic applications –PuffHaler, myo-Inositol formulations One PCT application –Sublingual delivery, myo-Inositol stabilizer Trademarks

4. AKTIV-DRY Company Background Aktiv-Dry founded in 2002 Privately held Organized as a Colorado LLC University of Colorado spinout Exclusive license from CU to core technology, with right to sublicense www. aktiv-dry.com

5. AKTIV-DRY Management Bob Sievers – Co-founder, CEO –Prof. Chemistry & Biochemistry, CU Boulder. Former Regent. –Co-founder Sievers Instruments Ionics Sievers GE Analytical –Sculptor Brian Quinn – Co-founder, Pres./COO –Engineer, Fluid Physicist, MBA –Co-founder, officer: Commercial Titan Inc., The Hintha Group, WyoChina Petroleum Inc., HydroMet Inc. –Sailboat Skipper, Mountaineer Ernst & Young Entrepreneur of the Year Finalists in 2006

6. AKTIV-DRY Core Technology Drug solution or suspension Near-critical or supercritical CO 2 (80 to 100 atm) Flow restrictor tube ID = 75 µm 10 cm The CAN-BD ® Nebulizer - Heart of the Bubble Dryer ® CO 2 flashes upon rapid 100X decompression to atmospheric pressure Restrictor tip Emulsion of product stream in liquid CO 2 Plume Carbon dioxide Assisted Nebulization with a Bubble Dryer

7. AKTIV-DRY Bubble Dryer Capabilities Lab Scale Unit (1 g/hr)Development Scale Unit (4 g/hr)

8. AKTIV-DRY Spray Dryer Modified As A Bubble Dryer ® Modified Niro Production Minor by replacing the mechanical nebulizer with a CAN-BD nebulizer Drying tower diameter 1.2 m Cylindrical height 0.75 m Conical height 0.9 m 100 g/hr (or 10,000 doses of 10 mg each per hour) Production Scale Unit

9. AKTIV-DRY New Product - The PuffHaler ® DPI Designed For needle-free delivery For mass vaccination campaigns To cost ≤ 10¢ per vaccination

10. AKTIV-DRY Representative Pharmaceutical Products Dried by CAN-BD VaccinesLive attenuated measles virus Live attenuated influenza virus Hepatitis B surface antigen(HBsAg) Human papilloma virus AntibodiesPRIMATZED® anti-CD4 Human IgG Anti-human lambda light chain ProteinsAlpha-1-antitrypsin Trypsinogen Lactate dehydrogenase Lysozyme Insulin Alkaline phosphatase CarbohydratesMyo-inositol, Trehalose, Mannitol, Lactose, Sucrose, Sorbitol Formulation Constituents Buffers: Tricine, sodium potassium phosphate, sodium acetate Surfactants: Palmitic acid, stearic acid, Tween 20, Tween 80, Pluronic F68 Amino acids: Arginine, methionine, leucine, glycine, etc. Metal chelating agents: EDTA, DTPA AntibioticsKanamycin sulfate Capreomycin sulfate Moxifloxacin hydrochloride Tobramycin sulfate Amoxycillin Doxycycline Cefazolin Ciprofloxacin Amikacin Rifampin AntiviralsRelenza, siRNA OtherPEG, PVP Hydrolyzed gelatin Sodium chloride DPPC (lung surfactant) Salbutamol (asthma drug) Albuterol sulfate Cromolyn sodium Phytosterols* (nutraceutical) Naproxen* Budesonide* Betamethasone* Amphotericin B* Cyclosporin*

11. AKTIV-DRY Near-term Dry Powder Formulation Projects Pentavalent vaccine stabilization Hepatitis B stabilization and unit-dose packaging; myo-Inositol for inhibition of pulmonary carcinomas Broad spectrum vaccines Harmsen/Montana State University Aerosol delivery of HPV Garcea and Cape/University of Colorado Biodefense Bukeyrev/Galveston National Lab, others Early age measles vaccine delivery Griffin/Johns Hopkins, with manufacturers, others

12. AKTIV-DRY Conclusion We are eager to discuss interesting collaborative projects and other exciting business opportunities for which our technologies will enable new products Vaccines, other biologics, Anti-virals, antibiotics, anti-inflammatories Vectors Expressed genes, etc. Non-pharmaceutical

13. AKTIV-DRY CONTACTS www.Aktiv-Dry.com Telephone: (303) 350-3060; toll-free 866-690-7045 Dr. Brian Quinn,, extension 101, Dr. Pankaj Pathak, extension 112, Dr. Bob Sievers, extension 106. Mail: Aktiv-Dry LLC, 4900 Nautilus Ct. N, Suite 200, Boulder, CO 80301, USA