CIMAB SA and BiOCON India Ltd finalize a Joint Venture Agreement

Havana City, Cuba, Feb 26, 2003 - The Center of Molecular Immunology (CIM, Havana, Cuba) and its commercial branch CIMAB SA (www.cim.sld.cu) announced today that both companies BIOCON India Ltd and CIMAB SA have finalized a joint venture agreement to establish a new Joint Venture company BIOCON Pharmaceuticals Ltd that will set up a new manufacturing facility to manufacture and market a select range of biotechnology products for human health care primarily in the Indian market.

Havana City, Cuba, Feb 26, 2003 - The Center of Molecular Immunology (CIM, Havana, Cuba) and its commercial branch CIMAB SA (www.cim.sld.cu) announced today that both companies BIOCON India Ltd and CIMAB SA have finalized a joint venture agreement to establish a new Joint Venture company BIOCON Pharmaceuticals Ltd that will set up a new manufacturing facility to manufacture and market a select range of biotechnology products for human health care primarily in the Indian market.
In the JV agreement BIOCON India Ltd has tied-up with CIMAB SA in a 51:49 venture which also includes or will develop a monoclonal antibody for cancer treatment and other products from mammalian cell culture.

About CIMAB S.A.
CIMAB SA is the commercial branch of the Center of Molecular Immunology (CIM). CIM is one a the centers of the Scientific Pole in Cuba devoted to research, development and manufacturing human biotech products, and CIMAB the marketing company. CIM research programs are focused in the areas of cancer therapeutics, autoimmune diseases and renal transplant. CIM utilizes its platform technology and development capabilities to facilitate the rapid and cost-effective discovery and development of novel anti-cancer drugs.

About BIOCON India Ltd
BioCon India Limited, Indias premier Biotechnology enterprise that is dedicated to the production of biomolecules for health care and industrial enzymes. A subsidiary of BioCon India Syngene International, is dedicated to contract research and development of new drugs and to the development of bioinformatic softwares for pharmaceutical industry.
During last few years its subsidiary Clinigene International has started clinical trials in different diseases and indications with the idea to discover and develop new biological markers through its bioinformatic technology platform. All these enterprises BioCon India Ltd, Syngene International and Clinigene International are the core base of the Bangalore-based Group BioCon India, recognized as the biotechnology major institution in India.

For more information, please contact:
Normando Iznaga-Escobar, MSc
Head Division Business and Development,
CIMAB SA
Street 206, No. 1926, Atabey, Playa,
Havana 11600, Cuba

Phone: (53 7) 271 5057, 271 6275
Fax: (53 7) 33 3509, 33 5049
Email: normando@ict.cim.sld.cu
Web page: www.cim.sld.cu