Dosing Initiated in TransMolecular's Phase 1/2 Clinical Trial for Intravenous Administration of Iodine-TM601 in Patients with Recurrent Malignant Glioma

Business Wire, Sept 29, 2008

TransMolecular, Inc. is a privately held, venture capital backed biotechnology company committed to discovering, developing and commercializing novel and proprietary products to diagnose and treat cancers that have inadequate treatment alternatives. TransMolecular's product pipeline is based on a protein platform that employs a therapeutically active polypeptide derived from scorpion venom. The company is currently exploring the use of this platform for broad applications to diagnose and treat cancers and other human diseases. More information can be found at www.transmolecular.com.

About University of Chicago Medical Center

The University of Chicago Medical Center, established in 1927, is one of the nation's leading academic medical institutions. It consists of the renowned Pritzker School of Medicine; Bernard Mitchell Hospital, the primary adult patient care facility; Comer Children's Hospital, devoted to the medical needs of children; Chicago Lying-in Hospital, a maternity and women's hospital; and the Duchossois Center for Advanced Medicine, a state-of-the-art ambulatory-care facility with the full spectrum of preventive, diagnostic, and treatment functions. Care is provided by more than 700 attending physicians - most of whom are full-time University faculty members - 620 residents and fellows, more than 1,000 nurses and 9,500 employees. The Medical Center is consistently recognized as a leading provider of complex medical care. It is the only Illinois hospital ever to make the U.S. News and World Report Honor Roll and 10 clinical specialties ranked among the top 30 programs nationwide. The Medical Center was awarded Magnet status in 2007, the highest level of recognition for nursing care.

This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with litigation, clinical trials, the regulatory approval process, reimbursement policies, commercialization of new technologies, intellectual property, and other factors.