Press Release March 26, 2007

Affinium Pharmaceuticals Raises $18 Million in Series A Financing

March 26, 2007 — Affinium Pharmaceuticals, Inc., a Toronto-based developer of a novel class of oral antibacterial therapeutics announces the closing of its US$18 million Series A financing. Affinium will use the proceeds from the financing to fund development of its lead candidate through Phase 2 clinical trials. The international financing was led by Forward Ventures and includes new investors Oxford Bioscience Partners, SV Life Sciences, and existing investor Genesys Capital Partners.

Affinium is focused on the clinical development of antibacterials.  Its lead development program encompasses a potent, orally available, novel antibiotic class for the treatment of antibiotic resistant staphylococcal infections.

Goodwin Procter attorneys Kingsley Taft, Matthew Austin, Laurie Burlingame and Theresa Kavanaugh represented Affinium in this transaction.