This Year's Highlights

• Positive Phase 2a study results demonstrating significant reductions in LDL-C, CRP, and trends toward HbA1c reduction and also tolerability in patients with Type 2 Diabetes Mellitus (T2DM) with DIO-902.
• Positive Phase 1/2a study results demonstrating decreased nocturnal hypoglycemia and tolerability with DIO-901 (very low dose glucagon) during insulin intensification in Type 1 Diabetes Mellitus (T1DM).
• A CEO was appointed and a $24MM Series B round of private financing was closed in April 2007.

Anticipated Highlights

• Patient enrollment is underway in a 200 patient international Phase 2b multi-center trial of DIO-902 (levdexketoconazole) in T2DM patients across 20 sites in the US, New Zealand, and Australia. Data from this trial are expected in 4Q 2008.
• A PK Bridging study for DIO-901 (very low dose glucagon) in an extended release formulation for subcutaneous administration will be conducted in the 1H 2008. Data from this trial are expected in 3Q 2008.
• Patient enrollment is planned for a Phase 2a Proof of Concept trial of DIO-902 (levdexketoconazole) in Diabetic Nephropathy. Data from this trial are expected in 4Q 2008.

Corporate Mission

DiObex is a privately held biotechnology company engaged in the development of novel products for the treatment of metabolic diseases.

Our pipeline includes products targeted at significant unmet medical needs in metabolic disorders including Type 1 and Type 2 Diabetes, Dyslipidemia, Obesity, and Diabetic Nephropathy.

Our mission is to develop our products, pursue regulatory approvals in targeted indications, deliver novel products to patients with metabolic disease, and create significant value for our shareholders.