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3M Drug Delivery Systems and MicroDose Technologies Inc. Team Up to Bring Advanced Electronic Dry Powder Inhaler Technology to Market

Collaboration will Provide Fully Integrated Drug Delivery Solutions for the Pharmaceutical and Biotechnology Industries

Monday, July 19, 2004 1:00 pm CDT

Dateline:

ST. PAUL, Minn.
"By combining our innovative inhaler technology platform with 3M's proven leadership in health care products and strong brand, we will create a dynamic partnership providing unique inhalation product solutions for an expanded market."

ST. PAUL, Minn.--(BUSINESS WIRE)--3M and MicroDose Technologies Inc., a privately held drug delivery company based in Monmouth Junction, N.J., announced today that the two companies have entered into an exclusive co-development and joint marketing agreement. The collaboration will combine MicroDose's leading edge dry powder inhaler technology with 3M's global inhalation product development, formulation development (particle engineering and powder handling), and manufacturing capabilities. As part of the deal, 3M has invested $5 million for a minority equity position in MicroDose.

"Collaborating with MicroDose and its strong technology platform in dry powder inhalation will significantly enhance 3M Drug Delivery Systems Division's capability to provide partner pharmaceutical and biotechnology companies with innovative drug delivery solutions. We are excited to add to the unique breadth and depth of technology that 3M is able to deliver to our customers," said John Sampson, division vice president, 3M Drug Delivery Systems Division. He added, "As we considered potential partners offering next generation technologies, MicroDose clearly stood out with a proven, customer-focused approach that enables flexibility to meet customer requirements with inhalation technology that is truly revolutionary."

The MicroDose Dry Powder Inhaler (DPI) is among a number of key proprietary technology platforms developed by MicroDose. The MicroDose DPI is a handheld, low-cost, breath-activated device that utilizes piezo electronics to efficiently deliver a broad range of compounds. Such compounds include small or large molecule therapeutics for both local and systemic applications. The device promises to be the first completely electronic DPI on the market and represents the next generation in inhaler technology both in performance and ease of use for patients.

Commenting on the transaction, Anand Gumaste, president and chief executive officer, MicroDose, said, "Through this collaboration, MicroDose is able to offer the pharmaceutical and biotechnology industries a fully integrated inhalation product development and manufacturing capability. We are pleased to be partnering with 3M to make this happen."

Scott Fleming, senior vice president of marketing, MicroDose, added "By combining our innovative inhaler technology platform with 3M's proven leadership in health care products and strong brand, we will create a dynamic partnership providing unique inhalation product solutions for an expanded market."

MicroDose and 3M currently are seeking business alliances with pharmaceutical and biotechnology companies interested in the pulmonary delivery of their molecules.

About MicroDose Technologies Inc.

MicroDose Technologies Inc., based in Monmouth Junction, N.J., is a leading privately held drug delivery company, developing advanced pulmonary, combination solid oral dosage, and other technologies for the pharmaceutical and biotechnology industries. The MicroDose DPI has been licensed to Bristol-Myers Squibb Co. for the delivery of inhaled insulin and is currently in development. MicroDose is also co-developing, with the University of Pittsburgh, an inhaled delivery system for a nerve agent antidote for the U.S. Department of Defense. In addition, MicroDose has several collaborations ongoing with undisclosed major pharmaceutical partners in the respiratory market segment.

About 3M Drug Delivery Systems -- Part of the 3M Health Care Family

3M Health Care, the largest of seven major 3M businesses, is dedicated to improving the practice, delivery and outcome of care in medical, dental, pharmaceutical, health information and personal care markets. 3M Drug Delivery Systems Division, part of the 3M Health Care family, is a global leader in the development of inhalation and transdermal technologies. As the creator of the first metered-dose inhaler, the division's history spans more than 50 years of medical innovation as a true pioneer of these technologies in both components as well as total drug delivery systems. Additional information is available at www.3M.com/dds.

About 3M -- A Global, Diversified Technology Company

Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include icons such as Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the company's 67,000 people use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. For more information, including the latest product and technology news, visit www.3M.com.

Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.

Contact:

3M, St. Paul
John Cornwell, 651-733-7698
www.3m.com/profile/pressbox/media_contacts.jhtml
or
Glenn Carter, 651-737-0687
www.3m.com/profile/pressbox/media_contacts.jhtml
or
MicroDose Technologies Inc.
Scott Fleming, 732-355-2114

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