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 News Release - October 9, 2007

Indigo Pharmaceuticals Appoints Dennis R. Cryer as Chief Medical Officer

20-Year Industry Veteran Joins Young Cardiovascular-Focused Company

NEW YORK, Oct. 9, 2007 (Healthcare Sales & Marketing Network) -- Manhattan-based Indigo Pharmaceuticals, Inc., a Paramount Biosciences-founded company committed to the development of new treatments for patients living with cardiovascular diseases and currently concentrating on peripheral arterial disease, announced today that Dennis R. Cryer, MD, FAHA has joined the company as its Chief Medical Officer. Dr. Cryer leaves a position as Vice President, External Medical Affairs at Bristol-Myers Squibb to lead clinical programs for Indigo Pharmaceuticals.

``We are delighted to welcome Dennis Cryer to the Indigo leadership team,'' said Carol Ann Satler, MD, PhD, President and Chief Executive Officer of Indigo Pharmaceuticals, Inc. ``Dr. Cryer's extensive academic research, clinical, and drug development experience and high profile within the cardiovascular and cardiometabolic communities will be invaluable to the company's growth.''

With degrees from Johns Hopkins and the Albert Einstein College of Medicine, Dr. Cryer began his medical career at the Children's Hospital of Philadelphia in the area of human genetics and metabolism and subsequently spent 20 years in varied positions across both research and development and commercial divisions of Bristol-Myers Squibb. Dr. Cryer led the medical development for two multi-billion dollar products for Bristol-Myers Squibb -- pravastatin (Pravachol(r) for hypercholesterolemia (high cholesterol) and metformin (Glucophage(r) for type 2 diabetes -- and most recently served as that company's external liaison across therapeutic areas and products, including the blockbuster Plavix which is indicated to reduce the risk of heart attack and stroke in patients with peripheral arterial disease.

Dr. Cryer is the 2006-2007 chair of the American Heart Association's Pharmaceutical Roundtable, a member of the Campaign Corporate Advisory Committee for the American College of Cardiology Foundation, a Trustee of the American Academy of Family Physicians Foundation, and a Director on the Boards of the Sister to Sister Foundation and the Friends of the National Library of Medicine (NIH). Additionally, Dr. Cryer is a member of numerous scientific and philanthropic organizations including the American Diabetes Association, the American Association of Clinical Endocrinologists, the Endocrine Society, the Association of Black Cardiologists, and the Society for Women's Health Research.

``I am truly excited to become Chief Medical Officer of Indigo Pharmaceuticals at this crucial juncture,'' said Dr. Cryer. ``I'm looking forward to working with Dr. Satler to lead this team in advancing the development of its promising drug candidate to reduce symptoms for the 8 to 12 million people suffering from peripheral arterial disease and in aggressively expanding our pipeline.''

The team that Dr. Cryer joins has approximately 100 years of combined experience in the pharmaceutical industry, including the Company's President and Chief Executive Officer, Carol Ann Satler; Robert Polke, Vice President of Manufacturing; Elaine Richardson, Vice President of Clinical Operations; and Albert Yehaskel, Vice President of Regulatory Affairs.

About Indigo Pharmaceuticals, Inc.

Indigo Pharmaceuticals is a pharmaceutical company focused on developing novel therapeutics for cardiovascular diseases. Indigo in-licenses, develops and markets late pre-clinical and clinical stage assets for the North American and European markets. For additional information, please visit

About Paramount BioSciences, LLC

Paramount BioSciences, LLC is a global pharmaceutical development and healthcare investment firm that conceives, nurtures, and supports new biotechnology companies. For additional information about Paramount BioSciences, please visit

About Peripheral Vascular Disease (PVD) and Peripheral Arterial Disease (PAD)

Peripheral Vascular Disease (PVD) refers to diseases of blood vessels (arteries and veins) outside the heart and brain. Peripheral arterial disease (PAD) is an abnormal narrowing of vessels that carry blood to the extremities (arms and legs) and internal organs such as the kidneys. The most common symptom of PAD is cramping, pain or tiredness in the lower extremity muscles while walking, running or climbing stairs. The pain typically goes away with rest and returns with repeated activity. The pain of PAD usually disappears when activity stops, although this may take a few minutes. When muscles are being used, they need more blood flow to supply oxygen to the tissue and to remove breakdown products. A narrowing of the vessel, usually due to atherosclerotic plaque, diminishes blood flow to the muscles. Increased blood flow is needed for increased levels of activity. Decreased blood flow in the setting of increased need causes the pain, which is called ``intermittent claudication.'' It is estimated that about 3 million people suffer from intermittent claudication in the U.S.

Source: Indigo Pharmaceuticals

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