Biovista Announces a Drug Repositioning Collaboration With Pfizer

By Biovista, PRNE
Monday, November 8, 2010

CHARLOTTESVILLE, Virginia, November 9, 2010 - Biovista announced today that it has entered into a pilot research
collaboration agreement with Pfizer (Pfizer Inc. (NYSE: PFE). The aim of the
collaboration is to identify new indications for a number of undisclosed
Pfizer development candidates, using Biovista's Clinical Outcome Search Space
(COSS) technology.

Under the terms of the agreement, Biovista will collaborate with Pfizer's
Indications Discovery Unit to identify up to three novel indications for each
of the Pfizer candidates. The terms of the agreement include an upfront
payment and success-based milestones.

"We seek to benefit from the collaboration with Biovista and their COSS
technology to expand uses for our drugs and to help accelerate our clinical
programs," said Don Frail, chief scientific officer of Pfizer's Indications
Discovery Unit.

"Pfizer is an industry leader in terms of its drug repositioning efforts,
supporting the vision that every drug may have potential beyond its initially
developed uses," said Aris Persidis, President of Biovista. "Working with
Pfizer on potential new indications may benefit expanded sets of patients
with unmet medical needs, and is an opportunity to demonstrate the value of
Biovista's COSS(TM) technology within the drug development workflow of
bio-pharmaceutical companies," he added.

DISCLOSURE NOTICE: The information contained in this release is as of May
17, 2010
. Pfizer assumes no obligation to update forward-looking statements
contained in this release as the result of new information or future events
or developments.

This release contains forward-looking information about potential new
uses for existing compounds that involves substantial risks and
uncertainties. Such risks and uncertainties include, among other things, the
uncertainties inherent in research and development; decisions by regulatory
authorities regarding whether and when to approve any drug applications and
supplemental drug applications for such new uses for existing compounds that
may be filed for such compounds as well as their decisions regarding labeling
and other matters that could affect their availability or commercial
potential of such new uses for existing compounds; and competitive
developments. A further description of risks and uncertainties can be found
in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31,
2009
and in its reports on Form 10-Q and Form 8-K.

About Biovista:

Biovista is a privately held biotechnology company that finds novel uses
for existing drugs, and profiles their side effects using their mechanism of
action. Biovista is developing its own drug pipeline in multiple indications
and is collaborating with the FDA on the prediction of adverse events, as
well as with biopharmaceutical companies on indication expansion and
de-risking of their portfolios (www.biovista.com).

    For further information please contact:

    Aris Persidis
    Biovista, Inc.
    arisp@biovista.com
    +1-434-242-6514

For further information please contact: Aris Persidis, Biovista, Inc., arisp at biovista.com, +1-434-242-6514

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