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September 27, 2007

Taisho and BrainCells Signed a License Agreement
for Taisho's New Drug Candidates of CNS Indications

Taisho Pharmaceutical Co., Ltd. [Headquarter: Toshima-ku, Tokyo, Japan, President: Akira Uehara] (hereinafter, Taisho) and BrainCells, Inc. [Headquarter: San Diego, California, USA, CEO: James A. Schoeneck] (hereinafter, BCI) concluded a license agreement for novel compounds for central nervous system (CNS) indications originated by Taisho, which are in pre-clinical stage.

In accordance with the license agreement, Taisho granted to BCI exclusive rights for development and commercialization of the compounds worldwide except for Japan and China. BCI will complete pre-clinical development of the lead compound, and advance it to clinical stage.

Taisho is the leading company in non-prescription pharmaceuticals in Japan. At the same time, it is strengthening its research and development efforts in the area of prescription drugs through steady internal growth. These efforts have seen it make progress with several original projects, including the compounds that are licensed out to BCI. Through ongoing active proprietary R&D and collaboration with Japanese and foreign companies, Taisho is determined to bolster its prescription pharmaceuticals business.

Overview of BrainCells, Inc.

Headquarter San Diego, California, USA
Foundation December, 2003
Biopharmaceutical company involved in proprietary drug discovery and in-licensing of treatments for diseases of the central nervous system (CNS).
- Conducts screening research and drug development using a proprietary neurogenesis technology platform
- Engaged in joint drug discovery research with NV Organon and Danish company H. Lundbeck A/S
- In-licenses and develops in-house products under development at other pharmaceuticals companies