Creabilis Announces Positive Phase IIa Results for TrkA Kinase Inhibitor CT327 in Atopic Dermatitis

LUXEMBOURG, December 15, 2010 - Creabilis SA, a clinical stage European biotechnology company
addressing unmet medical needs in dermatology, today announced positive
results in the Phase IIa study of its lead product CT327 in atopic
dermatitis.

CT327 is a novel topically applied TrkA kinase inhibitor
developed using the Creabilis' LSE (Low Systemic Exposure) technology. LSE
technology creates new chemical entities with ideal characteristics for
topical application (high local concentrations combined with low systemic
exposure).

In the pilot efficacy study conducted in Switzerland, 15
atopic dermatitis patients (AD) were recruited, with eight treated topically
with 0.1% CT327 [cream] twice daily for 15 days and seven receiving placebo.
A clinically significant improvement in symptoms was seen after eight days of
treatment with CT327 as measured by change in mEASI (modified eczema area and
severity index) score from baseline. Onset of efficacy was seen at three to
five days of treatment. The greatest patient-reported benefit was in night
time itch, one of the most troublesome symptoms of atopic dermatitis.

CT327 was shown to be safe and well tolerated with no serious
adverse events and no reported site irritation.

Commenting on the results, Prof. Jonathan Barker from St.
John's Institute of Dermatology at King's College, London, said: "There is a
real need for truly novel new treatments in dermatology and while these are
very early stage results it is exciting to see progress being made with an
entirely new approach to the treatment of AD and other serious skin
conditions."

Dr Eliot Forster CEO of Creabilis said: "These early clinical
data are very encouraging. While only a pilot study these data in patients
begin to confirm the promise of CT327 seen in our pre-clinical work where the
product has demonstrated antiproliferative activity on keratinocytes and
effectiveness in hyperproliferative skin disease models."

CT327 is also currently in Phase IIa proof-of-concept clinical
trials in psoriasis and pain. Further proof-of-concept clinical trials in
inflammatory pain are planned.

About Creabilis SA

Creabilis is a clinical stage European biotechnology company
creating highly innovative new drugs to tackle unmet medical needs in
dermatology diseases. Bringing together world class drug development
capabilities and a rich scientific heritage, Creabilis is uniquely positioned
to transform the treatment of skin diseases.

Creabilis' lead product is CT327, a novel topically applied
TrkA kinase inhibitor developed using the Company's LSE (Low Systemic
Exposure) technology. LSE technology creates new chemical entities with ideal
characteristics for topical application (high local concentrations combined
with low systemic exposure). CT327 is currently in Phase II clinical trials
in psoriasis and atopic dermatitis. The Creabilis portfolio also includes
CT637, a new approach to the treatment of significant inflammatory conditions
such as rheumatoid arthritis as well as severe psoriasis. Earlier stage
projects include a number of highly promising candidates for dermatological
and wider indications.

Creabilis is backed by some of Europe's most highly respected
life sciences investors including Sofinnova Partners and Neomed.

For more information, please visit: www.creabilis-sa.com

    For further information please contact:
    Creabilis
    Eliot Forster
    eforster@creabilis-sa.com
    Creabilis SA
    15 Rue Edward Steichen
    L-2540 LUXEMBOURG

    Citigate Dewe Rogerson
    Chris Gardner or Nina Enegren
    Tel: +44-(0)20-7282-1050
    E-mail: nina.enegren@citigatedr.co.uk

For further information please contact: Creabilis, Eliot Forster, eforster at creabilis-sa.com,
Creabilis SA, 15 Rue Edward Steichen, L-2540 LUXEMBOURG;
Citigate Dewe Rogerson, Chris Gardner or Nina Enegren, Tel: +44-(0)20-7282-1050,
E-mail: nina.enegren at citigatedr.co.uk