Cydex Pharmaceuticals,

CyDex Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of drugs specifically designed to address limitations of current therapies in selected established markets. We have developed a portfolio of product candidates utilizing our drug formulation technology using Captisol® cyclodextrins. Captisol® cyclodextrins are a patent protected, specifically modified family of cyclodextrins designed to improve solubility, stability, bioavailability, safety and/or dosing of a number of active pharmaceutical ingredients, or APIs. In order to maximize our internal resources, experience and technology, we are focusing on the development and commercialization of product candidates for use in the acute care hospital setting. For those product candidates that likely will entail more extensive development and commercialization efforts, we partner with established pharmaceutical or specialty pharmaceutical companies. We also outlicense our Captisol® technology to third parties for use in the development of their own products. CyDex was acquired by Ligand Pharmaceuticals, Inc. in January 2011.