San Diego, CA – March 1st, 2010 – Avineuro Pharmaceuticals, Inc. reported today clinical Phase I results on AVN-322, a potent and selective small molecule antagonist of 5-HT6 receptor for treatment of Alzheimer’s disease. AVN-322 was well tolerated in a wide range of doses and no adverse events were observed. Avineuro Pharmaceuticals, Inc. plans to start Phase II clinical trials with AVN-322 in Alzheimer’s disease later this year.

Avineuro discovers and develops novel small molecules for unmet medical needs in neurology and psychiatry. Avineuro emphasizes a rational approach to drug discovery that combines modern medicinal chemistry with streamlined pre-clinical and clinical development studies, thus allowing a fast transition to proof-of-concept product candidates.

Yan Lavrovsky, M.D., Ph.D.

CEO

Avineuro Pharmaceuticals, Inc.

6605 Nancy Ridge Drive

San Diego, CA 92121

Phone: (858) 436-1537

Fax: (858) 228-9798

E-mail: ylavrovsky@avineuro.com

www.avineuro.com