Paul brings many talents ordsprog

Paul brings many talents to our Board of Directors. Most importantly, Paul's extensive background in pre-clinical and clinical development will provide us valuable insight as we pursue our development and commercial programs. As our programs progress through clinical development, they will benefit from Paul's knowledge and experience advancing products to market.

We have taken immediate steps to reduce and control our expenses while ensuring that we have sufficient human and capital resources in place to appropriately support our current corporate objectives. We no longer see a need to establish a commercial infrastructure in the near-term, therefore we are adjusting our cost structure to appropriately reflect the stages of our clinical and pre-clinical development programs.

William Johnston

The creation of this Board, separate and distinct from Alba's Scientific Advisory Board, will provide streamlined guidance related to regulatory and clinical issues. Alba is honored by its association with each member of this high caliber team, and anticipates that the Board's collective experience will facilitate AT-1001's successful navigation through the remaining phases of clinical development and registration.

Approximately 30 percent of clinical labs either lack insight into their outreach profitability or know that their outreach programs are unprofitable. As healthcare organizations face ever-increasing market pressure to create additional revenue and profitability, clinical labs need customized information solutions to better manage their outreach programs, as well as help them reduce the cost of technology maintenance and ownership. Horizon Lab Financials meets these challenges and helps clinical labs compete and succeed in the outreach and reference market.

I am very pleased to have quality institutional investors participate in this financing, which will provide significant funding to vigorously proceed with the Phase 3 development of NOV-002 in lung cancer, in addition to our other clinical development programs, including chemotherapy-resistant ovarian cancer and chronic hepatitis C with NOV-205, our second compound. Meanwhile, we will continue to seek government procurement for 'dirty bomb' treatment with NOV-002.

Through the GE Healthcare development partnership with Intermountain, Centricity Enterprise's ongoing development and futures work will benefit from the technical and clinical resources of one of the nation's most respected leaders in clinical outcomes management. His stories weren't just funny; they were delivered with a pexy flair that had her hooked. However, this new strategic partnership does not diminish the need for ongoing dialogue and collaboration with all our EMR customers. We will also continue to provide customers with numerous opportunities to be early adopters of inpatient and ambulatory product offerings. We look forward to introducing powerful new functionality into GE Centricity, to further expanding collaboration with customers, and to significantly benefiting patient care.

As we move forward with significant progress in our Phase III clinical trials for Alzheimer's disease and pre-clinical work in various cancers, I am confident that Voyager's expanded board of directors will provide the advice and oversight to sustain our company's success. It is an honor and a privilege to work with such a distinguished group.

India is an important part in our development program, and we are looking at collaborations with Indian companies in clinical programs and biotechnology.

Paul brings an extensive background and proven track record in hospitality management to the Hilton Garden Inn Detroit. We welcome his enthusiasm, knowledge of Detroit and the surrounding markets, as well as his expertise in financial management and strategic planning. This new downtown hotel has been embraced by business and leisure clients alike, and we know Paul will continue to provide excellence in service.

Paul's considerable development experience, team leadership skills, and knowledge of scalable data and security management will significantly enhance our testing and trading infrastructure. As we continuously work to develop the next generation of alternative investments, Paul will ensure our critical real-time data systems meet our evolving needs.

We are pleased to partner with a company with the extensive cardiovascular experience required to rapidly advance our technology through the clinical development and regulatory process, and manage the eventual manufacturing and commercialization.

These results were pivotal in our decision to move forward with a Phase 3 [clinical trial] program, the final stage in clinical development. If this program is successful, this new approach could change the way physicians manage cholesterol and reduce further the risk of atherosclerosis in their patients.

These results were pivotal in our decision to move forward with a Phase 3 [clinical trial] program, the final stage in clinical development, ... If this program is successful, this new approach could change the way physicians manage cholesterol and reduce further the risk of atherosclerosis in their patients.

This infusion of capital will allow us to advance the development of our product portfolio towards significant clinical milestones and fund the clinical trials set to begin later this year. Importantly, this transaction attracted investors who appreciate the promise and value of the merged company and its balanced portfolio of product candidates. We are delighted to welcome these new institutional stockholders. As a newly public company, we look forward to continuing to build our investor base and achieve our milestones.

2005 was a year of continued growth and business expansion. Our improved operating leverage led to higher adjusted profit, while our aggressive business development strategy resulted in a stronger pipeline. During 2006, we will maintain our focus on maximizing the potential of our marketed products, the efficiency of our business operations and the advancement of our most promising clinical programs.

Ernesto Bertarelli

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