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Minerva Settles Litigation

BOSTON-(Business Wire)-September 4, 2008 - Minerva Biotechnologies Corporation and James Czirr, its former Chief Executive Officer, today announced the resolution of their legal dispute.

As part of the settlement, each of the parties withdrew all allegations of misconduct and the Company accepted Mr. Czirr’s resignation as a Director and withdrawal from all affairs of the Company.

Other aspects of the settlement were not disclosed and are subject to a Confidentiality Agreement.

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