Viventia Biotech and Dowpharma<sup>SM</sup> Announce a Multi-Product Commercial License Agreement using <i>Pf</i>ēnex Expression Technology™ from Dowpharma

Viventia Biotech and Dowpharma^SM Announce a Multi-Product Commercial License Agreement using Pfēnex Expression Technology™ from Dowpharma
First Antibody Based Product to be Expressed Using Pfēnex

Toronto, Canada - February 14, 2006

Viventia Biotech Inc. (Toronto, Canada) and Dowpharma^SM contract manufacturing services, a business unit of The Dow Chemical Company (NYSE: DOW), today announced they have entered into a commercial license agreement for Pfnex Expression Technology , a Pseudomonas-based technology from Dowpharma. Under the terms of the agreement, Viventia will employ Pfnex Expression Technology for up to six different therapeutic compounds, the first of which is an antibody-based product candidate in preclinical development. Pfnex Expression Technology accelerates speed to market for vaccines and biotherapeutics by improving quality, boosting yields of difficult-to-express proteins and reducing the cost of existing microbial systems. The agreement specifies milestone payments and commercial royalties on product sales; additional financial details were not disclosed.

"Our proprietary Armed Antibodies™ platform is a cutting edge approach yielding powerful yet precise antibody-based therapeutics for the treatment of a variety of cancers," said Nick Glover, Ph.D, Chief Executive Officer of Viventia Biotech. "To support the commercialization strategies for our drugs, it is essential that we be able to produce our Armed Antibodies efficiently and at commercially viable levels. Pfnex may enable us to increase the expression of our Armed Antibodies beyond the levels of other expression technologies and speed our process development."

"We look forward to expanding the technology applicability of Pfnex by expressing antibody-based products, which are traditionally very difficult to express," said Nick Hyde, global business director, Dowpharma. "This agreement further validates the biopharmaceutical industry's need to more quickly and efficiently produce biotherapeutics."

Dowpharma has an unmatched record in developing high-productivity strains for the manufacture of numerous protein products for both clinical and industrial applications. Pfnex Expression Technology is built around specially modified strains of Pseudomonas fluorescens bacteria that increase cellular expression of recombinant proteins and peptides while maintaining critical solubility and activity characteristics. Pfnex Expression Technology consistently outperforms other microbial systems, often with yields five to ten times greater than the next best expression alternative.

About Dowpharma
Dowpharma^SM serves the pharmaceutical and biopharmaceutical industries with innovative technologies, products, and services in drug discovery, development, delivery and manufacturing. Dowpharma has one of the broadest and deepest capabilities in the global outsourcing industry with services that include process development, route selection, methods development, custom solubilization, chiral capabilities, and associated analytical services, as well as manufacturing and scale-up from feasibility, through clinical trials, to commercial manufacturing.

Dowpharma manufactures small molecule Active Pharmaceutical Ingredients (APIs) and intermediates, nucleic acid medicines, cGMP polymers, peptides and therapeutic proteins from microbial fermentation and plant-based systems. Dowpharma draws upon over 30 years of excellent cGMP regulatory compliance in the organic synthesis of APIs and pharmaceutical intermediates with the ability to provide client support in filing and validation strategies. Dowpharma operates research, process development, and manufacturing facilities in North America and Europe. More information is available at www.dowpharma.com.

About Dow
Dow is a diversified chemical company that harnesses the power of science and technology to improve living daily. The Company offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $46 billion and employs 42,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.

About Viventia Biotech
Viventia Biotech Inc. is a biopharmaceutical company developing Armed Antibodies™ powerful and precise anti-cancer drugs designed to overcome various forms of cancer. Viventia's lead products, Proxinium™ and Vicinium™, combine a cytotoxic protein payload significantly more powerful than traditional chemotherapies with the highly precise tumour-targeting characteristics of a monoclonal antibody. Proxinium™ and Vicinium™ are in clinical development for the treatment of head and neck cancer and bladder cancer, respectively.

Viventia, Proxinium™, Vicinium™ and Armed Antibodies™ are trademarks of Viventia Biotech Inc.

For Editorial Information:

Kathy W. Sweeney
Mentus
858-455-5500, x 230

James Smith
Viventia
(416) 815-0700 x 229

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Under the terms of the agreement, Viventia will employ Pfnex Expression Technology for up to six different therapeutic compounds, the first of which is an antibody-based product candidate in preclinical development. Pfnex Expression Technology accelerates speed to market for vaccines and biotherapeutics by improving quality, boosting yields of difficult-to-express proteins and reducing the cost of existing microbial systems. The agreement specifies milestone payments and commercial royalties on product sales; additional financial details were not disclosed. "Our proprietary Armed Antibodies™ platform is a cutting edge approach yielding powerful yet precise antibody-based therapeutics for the treatment of a variety of cancers," said Nick Glover, Ph.D, Chief Executive Officer of Viventia Biotech. "To support the commercialization strategies for our drugs, it is essential that we be able to produce our Armed Antibodies efficiently and at commercially viable levels. Pfnex may enable us to increase the expression of our Armed Antibodies beyond the levels of other expression technologies and speed our process development." "We look forward to expanding the technology applicability of Pfnex by expressing antibody-based products, which are traditionally very difficult to express," said Nick Hyde, global business director, Dowpharma. "This agreement further validates the biopharmaceutical industry's need to more quickly and efficiently produce biotherapeutics." Dowpharma has an unmatched record in developing high-productivity strains for the manufacture of numerous protein products for both clinical and industrial applications. Pfnex Expression Technology is built around specially modified strains of Pseudomonas fluorescens bacteria that increase cellular expression of recombinant proteins and peptides while maintaining critical solubility and activity characteristics. Pfnex Expression Technology consistently outperforms other microbial systems, often with yields five to ten times greater than the next best expression alternative. About Dowpharma Dowpharma^SM serves the pharmaceutical and biopharmaceutical industries with innovative technologies, products, and services in drug discovery, development, delivery and manufacturing. Dowpharma has one of the broadest and deepest capabilities in the global outsourcing industry with services that include process development, route selection, methods development, custom solubilization, chiral capabilities, and associated analytical services, as well as manufacturing and scale-up from feasibility, through clinical trials, to commercial manufacturing. Dowpharma manufactures small molecule Active Pharmaceutical Ingredients (APIs) and intermediates, nucleic acid medicines, cGMP polymers, peptides and therapeutic proteins from microbial fermentation and plant-based systems. Dowpharma draws upon over 30 years of excellent cGMP regulatory compliance in the organic synthesis of APIs and pharmaceutical intermediates with the ability to provide client support in filing and validation strategies. Dowpharma operates research, process development, and manufacturing facilities in North America and Europe. More information is available at www.dowpharma.com. About Dow Dow is a diversified chemical company that harnesses the power of science and technology to improve living daily. The Company offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $46 billion and employs 42,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. About Viventia Biotech Viventia Biotech Inc. is a biopharmaceutical company developing Armed Antibodies™ powerful and precise anti-cancer drugs designed to overcome various forms of cancer. Viventia's lead products, Proxinium™ and Vicinium™, combine a cytotoxic protein payload significantly more powerful than traditional chemotherapies with the highly precise tumour-targeting characteristics of a monoclonal antibody. Proxinium™ and Vicinium™ are in clinical development for the treatment of head and neck cancer and bladder cancer, respectively. Viventia, Proxinium™, Vicinium™ and Armed Antibodies™ are trademarks of Viventia Biotech Inc. For Editorial Information: Kathy W. Sweeney Mentus 858-455-5500, x 230 James Smith Viventia (416) 815-0700 x 229
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