1. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Biotech Industry in Italy Italian Life Sciences Survey 2007 Provided by Italian Biotech Database c/o Venture Valuation, Zurich in collaboration with ‚invest in Italy‘ www.italianbiotech.com | www.venturevaluation.ch | www.investinitaly.com

2. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Italian Biotech Companies - Breakdown by Subcategories Comments: Based on the categorization of the Italian Biotech Database; Total of 476 companies. Biotech Industry In Italy Italian Life Sciences Survey 2007

3. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Product Development of Italian Biotech Companies - Breakdown by Development Phases Comment: Based on the company profiles categorized as „Biotechnology - Therapeutics“ (87 companies). Biotech Industry In Italy Italian Life Sciences Survey 2007

4. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Biotech Industry In Italy Italian Life Sciences Survey 2007 Foundation of Italian Biotech Companies 1995 – 2007 (YTD) Breakdown by Main Categories Comments: Total 105 foundations between 1995 – 2007 (YTD).

5. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Size of Biotech Companies - Number of Employees Comments: Data about employees available for 108 companies. Biotech Industry In Italy Italian Life Sciences Survey 2007

6. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Ownership of Italian Biotech Companies - Breakdown Public / Private Comments: Total 476 companies. Biotech Industry In Italy Italian Life Sciences Survey 2007

7. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Source of Foundation Italian Biotechnology Companies Comments: Data available for 42 companies. Biotech Industry In Italy Italian Life Sciences Survey 2007

8. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Additional Information available on www.italianbiotech.com Biotech Industry In Italy Italian Life Sciences Survey 2007

9. Italian Biotech Database www.Italianbiotech.com | c/o Venture Valuation | www.venturevaluation.com | info@venturevaluation.com Data Basis Terms of Use Contact for Database Collaboration Partner Italian Life Sciences Survey 2007 The „Italian Life Sciences Survey“ is based on the data entered in the Italian Biotech Database available on www.italianbiotech.com. The statitistics and graphs in this presentation include the figures and information entered in this database as of December 2007. We do not guarantee any accuracy hereof. Furthermore, a new categorization system was installed during 2007; therefore, the survey of 2007 can not be directly compared with surveys of previous years. The use of the figures and graphs provided in this report is free of charge for any presentations only with the remark of reference „Source: www.italianbiotech.com“. For all other uses please contact us for the terms of conditions. Italian Biotech Database v/o Venture Valuation VV AG Kasernenstrasse 11+41 43 321 86 60 8004 Zurichinfo@venturevaluation.com Switzerlandwww.venturevaluation.com Invest in Italywww.investinitaly.com Data Basis & Terms of Use