iThemba Pharmaceuticals (Pty) Ltd and Pyxis Discovery B.V. Announce Collaborative Agreement to Offer a Combined Service Offering

DELFT, The Netherlands and JOHANNESBURG, November 25 - iThemba Pharmaceuticals' service division and Pyxis Discovery
announced today that they have signed a collaborative agreement to jointly
market both companies' services.

Pyxis's world class computational chemistry and lead discovery
expertise will be coupled with iThemba's service division to provide
medicinal and synthetic chemistry support to projects identified through
Pyxis' international client network. iThemba Pharmaceuticals and Pyxis
Discovery also announced today that they are entering into a co-marketing
agreement to offer virtual libraries which will be exclusively synthesized
for clients. Pyxis's smart approach of designing and selecting compounds
facilitates a rapid and efficient lead discovery and library design process
and this coupled to iThemba's expertise in synthetic and medicinal chemistry
will provide our customers with a unique service offering opportunity.

"The intellectual and technological support from Pyxis will
enhance both of our service offerings," said Chris Edlin, CSO of iThemba.
"Our customers will gain the advantage of our coupled expertise in design,
synthesis and medicinal chemistry prowess."

"Combining the outstanding medicinal chemistry expertise of
iThemba with our design approach helps us to provide our clients with a more
complete set of services, resulting in swiftly progressing lead discovery and
optimization projects." said Ron van der Valk, Managing Director of Pyxis
Discovery. "In addition to this, we hope that our collaboration with iThemba
will support their ambition to bring affordable medicines to the less
fortunate people in this world."

About iThemba Pharmaceutical (Pty) Ltd. (www.ithembapharma.com)

iThemba Pharmaceuticals (Pty) Ltd., based in Modderfontein, Gauteng,
South Africa is founded to discover and develop new and affordable medicines
for the diseases of poverty in Africa. The company is funded by the
Biotechnology Regional Innovation Centers, LIFElab and BioPAD of the
Department of Science and Technology, Government of South Africa. Utilizing
leading edge proprietary technology and its expertise in synthetic organic
chemistry, iThemba Pharmaceuticals will become the premier research focal
point in Africa for infectious diseases including HIV, tuberculosis, malaria
and their associated co-infections. The company will create shareholder value
by coupling the company's own drug discovery efforts with collaborative
research initiatives and cash-generating contracts to reduce the risks and
costs of developing medicines for neglected diseases and low profit-margin
markets.

About Pyxis Discovery B.V. (www.pyxis-discovery.com)

The ambition of Pyxis Discovery is to be the preferred chemistry service
provider for companies that are active in small molecule drug discovery.
Pyxis Discovery's Smart approach of designing and selecting compound
libraries facilitates a rapid and efficient lead discovery process, yielding
lead compounds with excellent pharmacological profiles. Pyxis Discovery uses
proprietary software algorithms for compound design and selection and a
Global Supplier Database of nearly all commercially available screening
compounds to provide its clients with screening libraries that are tailored
to their specific needs. Furthermore, Pyxis Discovery offers high quality
compound libraries off the shelf. Pyxis Discovery is headquartered in the
Netherlands and has a worldwide presence with also an office in Boston,
Massachusetts and representation in Japan.

Media Contact: Pyxis Discovery B.V., Ron van der Valk, Managing Director, Tel. +31-15-2600972, rv at pyxis-discovery.com