Limerick BioPharma and Cortex Pharmaceuticals Use Industry Leading Virtual Data Room To Share Due Diligence Documents

Los Gatos, CA, September 16, 2009 — Pandesa, a leading provider of next generation virtual data rooms, has been adopted by a number of pharmaceutical, biopharmaceutical and biotech research and development companies worldwide, to securely share sensitive documents during the due diligence process associated with partnering, licensing, fundraising, mergers and acquisitions, and other business processes.

Pandesa has leveraged its expertise enabling due diligence for top institutions in the financial services industry to develop solutions for a range of markets and business transaction scenarios, including biopharmaceutical partnering. AcelRx Pharmaceuticals, Cortex Pharmaceuticals, DURECT Corporation, Jazz Pharmaceuticals, Limerick BioPharma, XenoPort and dozens of other firms in the industry have selected ShareVault™ for a variety of due diligence applications.

Today’s pharmaceutical market is increasingly competitive. To maintain a competitive edge, companies must be able to move quickly to identify, evaluate, and negotiate deals. In order to do so, extensive information is required, including highly sensitive information from clinical trials and research. ShareVault™ provides customers unparalleled features to enable a competitive edge, with an easy to use platform that is fast, secure and reliable.

“A pharmaceutical company’s greatest asset is its data. It serves as the foundation for all of our partnering and fund raising efforts. Real-time access to key data from clinical trials and other research greatly facilitates the due diligence process,” said Nigel Ray, Vice President of Business Development, Limerick BioPharma, a company that develops compounds to significantly improve drug side effect profiles and clinical outcomes. “ShareVault gives us the ability to move fast and share information, without fearing security risks. With this capability, we’re able to conduct deals faster while casting a broader net to get more potential partners.”

Pandesa ShareVault™ for biopharmaceutical partnering includes the following features:

• High, speed encrypted connection;

• PDF streaming, which enables large documents to open instantly;

• “Drag and Drop” file indexing, PDF conversion and upload capabilities;

• Customizable access control and policy-based security features;

• Detailed activity tracking and reporting;

• Full-text search;

• Visual content browsing;

• In-place editing of tags and permissions; and

• 24/7 customer support.

ShareVault™ additionally enables multiple companies in different geographic locations to conduct due diligence, reducing the need to coordinate in-person meetings during the each stage of partnering discussions.

“ShareVault’s focus on speed helps us accelerate the due diligence process,” said Mark Varney, CEO, Cortex Pharmaceuticals, a neuroscience company focused on developing novel AMPAKINE® drug therapies for neurological and psychiatric disorders. “Some of our clinical trial results documents contain thousands of pages, yet our users can open them instantly from ShareVault.”

Pandesa ShareVault™ has helped hundreds of companies share mission-critical information in a secure and reliable on-demand environment. Its rapidly growing customer base among biopharmaceutical companies is proof that ShareVault™ is taking virtual data room capabilities to the next level.

“It’s gratifying to see ShareVault™ being used so effectively in so many diverse applications. Our customers are realizing that a virtual data room of this caliber saves time and money and ends up making better deals and partnerships,” said John Badger, Vice President of Marketing and Product Management, Pandesa.

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About Pandesa:

Pandesa Corporation develops and markets ShareVault™, the next generation virtual data room for secure online sharing of sensitive documents during due diligence and other critical business processes. The company was founded in 2003 to help professionals securely share unstructured information in order to facilitate business transactions. Pandesa provides an on demand platform that enables its customers to manage critical time-sensitive and document-centric processes, such as due diligence, where documents must be organized and made available to multiple parties efficiently and securely. Pandesa is based in Los Gatos, California, with development offices in Bangalore, India. For more information, visit: www.pandesa.com.