ILEX is a drug development company focused exclusively on oncology. The company uses its expertise in the identification, development, manufacturing and regulatory approval process of oncology drugs to: (i) develop cancer treatment products, (ii) develop products for the prevention of cancer and (iii) provide contract research services to pharmaceutical and biotechnology companies. ILEX's objective is to be a leading worldwide oncology drug development company. The company has nine cancer treatment compounds under development, including five in Phase II or Phase III clinical trials. In October 1996, ILEX submitted a NDA to the FDA seeking accelerated marketing approval for MGBG as a second-line treatment for patients with AIDS-related non-Hodgkin's lymphoma. Additionally, ILEX has two chemoprevention compounds under development. Consistent with its strategy, the Company has established worldwide development and marketing collaborations with Sanofi, Janssen and MGI Pharma for certain of its compounds. In addition to its proprietary product development programs, the company offers CRO services to both the pharmaceutical and biotechnology industries. ILEX believes it is currently the only full-service provider of contract research services focused exclusively on oncology. ILEX was formed by CTRC in December 1993 for the purpose of conducting certain advanced drug development programs and pursuing commercial opportunities which were not within the scope of CTRC's tax-exempt purpose.