Jerini Ophthalmic and PR Pharmaceuticals Sign Collaboration Agreement to Develop Sustained-Release Formulations for the Treatment of Eye Diseases

Berlin, Germany and Fort Collins, CO, USA, April 10, 2008 - Jerini AG
(FSE:JI4) and PR Pharmaceuticals announced today a license and
development agreement between Jerini Ophthalmic, Inc. (JOI), a
wholly-owned and independently operated US subsidiary of Jerini AG,
and PR Pharmaceuticals (PRP). The collaboration agreement focuses on
the development of sustained-release formulations (SRFs) for a range
of ophthalmic indications, including JOI's lead drug candidates for
the treatment of age-related macular degeneration (AMD): JSM 6427, an
integrin antagonist, and JPE 1375, an inhibitor of the complement
cascade. Under the terms of the agreement, JOI will pay an
undisclosed upfront payment along with milestone payments for the
achievement of preclinical and clinical goals and royalties on
eventual product sales. In return, PRP agrees to cooperate
exclusively with JOI on specified ophthalmic targets and to provide
the company with all sustained-release formulations developed through
the collaboration agreement.

"Our collaboration with PRP will allow us to leverage our ophthalmic
drug development expertise with PRP's proven drug delivery platform
and formulation resources, enhancing our ability to move our
compounds from feasibility to commercial products. Developing new
agents and treatment paradigms for AMD is essential, and our
ophthalmic compounds offer novel therapeutic potential to address
this debilitating disease," said David Shima, Chief Scientific
Officer at JOI.

Anthony P. Adamis, CEO and President of JOI stated, "We look forward
to working with the outstanding scientific team at PRP to develop
sustained-release formulations that will effectively manage retinal
disease while reducing the treatment burden for patients."

"The opportunity to work closely with Jerini Ophthalmic on developing
a sustained-release formulation for each of its new drug candidates
is very exciting for us and represents yet another endorsement of our
unique technology platforms by an important pharmaceutical partner,"
said Patrick Bols, President of PRP.

About AMD
Age-related macular degeneration (AMD) is the leading cause of
blindness in people over the age of 55. With age being the primary
risk factor for AMD, its prevalence will increase dramatically with
the aging baby-boomer population. Significant vision loss develops
when afflicted eyes go on to develop advanced AMD, which is
characterized either by abnormal blood vessel growth and leakage or
by retinal atrophy.
About Jerini AG
Jerini is a pharmaceutical company based in Berlin, Germany, focusing
on the discovery, development, and commercialization of novel
peptide-based drugs. The company pursues disease indications that
have limited or no treatment options and has built a drug pipeline
composed of its own programs, as well as others in collaboration with
established partners. Jerini's lead compound, Icatibant for the
treatment of hereditary angioedema (HAE) is under regulatory review
with the EMEA and FDA and decisions from the agencies are expected in
the first half of 2008. Jerini has also established several in-house
development programs, which address indications within the
therapeutic areas of ophthalmology, oncology, and inflammatory
disease. For more information, please see www.jerini.com.

About PR Pharmaceuticals, Inc.
PR Pharmaceuticals (PRP) is a biopharmaceutical company developing,
manufacturing, and commercializing bioactive compounds in its
injectable sustained-release technologies. The company has a
significant intellectual property position in the encapsulation of
large molecules such as proteins and peptides as well as
encapsulation of classic small molecules into biodegradable
microparticles. PRP is applying compelling and patented technology to
create a diverse range of candidate pharmaceutical products to
address unmet medical needs. For more information, please visit
www.prpharm.com.

About Jerini Ophthalmic, Inc.
Jerini Ophthalmic, Inc. is an independently operated and wholly-owned
subsidiary of Jerini AG, which focuses on the rapid development of
novel, highly specific therapeutics for eye diseases and
extended-release formulations for chronic eye diseases. The company
is currently conducting a Phase I clinical trial evaluating JSM 6427
for the treatment of AMD and results are expected in the second half
of 2008. JSM 6427 is a small molecule in development to prevent the
progression of dry AMD to wet AMD, an unmet medical need affecting
over 600,000 patients in the United States. For more information,
please visit www.jophth.com.

ISIN: DE0006787476

For questions, please contact:
Stacy Wiedenmann
Director, Investor Relations &
Corporate Communications
Jerini AG
Invalidenstrasse 130
10115 Berlin, Germany
T + 49 - 30 - 97893 - 285
X + 49 - 30 - 97893 - 599
wiedenmann@jerini.com

Dr. Patrick Bols
President
PR Pharmaceuticals
1716 Heath Parkway
Fort Collins, CO 80524
USA
T + 1 - 970 - 484 - 5560
pbols@prpharm.com

Gayle Gironda
Vice President, Business Operations
Jerini Ophthalmic, Inc.
111 W. 50th Street, 7th Floor: 7-422A
New York, NY 10020
USA
T + 1- 212 - 408 - 0441
ggironda@jophth.com