ANN ARBOR, MICH., July 6, 2004 – Michael W. Long, Ph.D., the President and CEO of Velcura Therapeutics™, Inc. announced today that two outstanding Michigan life science professionals have joined the Ann Arbor biotech company that is dedicated to fighting bone disease. "The two women who have joined our team at Velcura Therapeutics are excellent representatives of the talent available here in Michigan," said Dr. Long.

Holly Britt Anderson was recently appointed laboratory/office administrator. In that role, she handles procurement, safety, environmental compliance, grant and contract compliance, and general administrative and other business duties for Velcura Therapeutics. Currently completing her MBA at Eastern Michigan University, Anderson brings more than two decades of experience in regulatory compliance, analysis, strategic planning and organizational development. She earlier earned her B.S. at EMU concentrating on the Biological and Analytical Sciences as well as Business courses.

Prior to joining Velcura Therapeutics, Anderson attended EMU and worked as a management consultant with the Summer Symphony of Ann Arbor. Earlier she worked with clients of Biotechnology Business Consultants, LLC in Ann Arbor, including ReceptorPro and the Michigan Capitalization Assistance Program. From 1987 to 1999, Anderson was manager of the Central Laboratory for Reproductive Sciences Program at the University of Michigan in Ann Arbor and from 1980 to 1983, she was chief operating officer for Innovative Software Technologies, Inc. in Ann Arbor. Anderson started her career as a research associate and managed radiopharmaceutical laboratory operations for U-M’s Michigan Memorial Phoenix Project from 1979 to 1987.

Jessica Eason-Butler joins Velcura Therapeutics as a staff scientist. Her role at Velcura will be to explore how bone cells develop from more primitive cells in the adult bone marrow. Most recently, she was a research contractor for Manpower at Pfizer in Ann Arbor. A 2002 graduate of Michigan State University, Eason-Butler earned a M.S. in Animal Science, with an emphasis on animal breeding and genetics. She also completed her undergraduate degree at MSU where she worked as a researcher in the Department of Animal Science and assisted with identifying the genetic cause of an eye disorder in horses.

About Velcura Therapeutics™, Inc.

Velcura Therapeutics, Inc. is involved in developing novel therapies for osteoporosis and other bone diseases. The biotechnology company builds on its patented technology and ability to rapidly isolate and analyze human bone cells. Velcura Therapeutics™ has an exclusive license agreement with the University of Michigan and is based in Ann Arbor, Mich. Velcura Therapeutics President and CEO Michael W. Long, Ph.D. and CFO Mary Ann Alger founded the company in 2001, the same year it was the grand prize winner in the first annual Great Lakes Entrepreneurs Quest. The company received $3.3 million in funding from the Michigan Life Science Corridor in 2002 and a $224,000 Phase 1 Small Business Innovation Research grant from the NIH National Institute on Aging in 2003. For more information, visit www.velcura.com.