Press Release

VENOMIX Announces New Development Deal with CHEMTURA

Farmington, CT, May 18, 2006 – The University of Connecticut Research & Development Corporation (UConn R&D) announced today that one of its start-up companies, VENOMIX, Inc., recently signed a cooperative development deal with Chemtura Corporation located in Middlebury, Connecticut.

VENOMIX is developing the next generation of proprietary insecticide products with unique modes of action that are highly effective against insects and related pests and that have a reduced environmental impact. The technology, which was developed by Dr. Glenn King and his lab at the University of Connecticut Health Center, was patented by UConn and subsequently licensed to VENOMIX.

“These insecticides should be better from an environmental point of view because they have novel modes of action that make them toxic only to insects and related pests," King said.

According to Mark Van Allen, UConn R&D President, “This is a technology that has the potential to usher in a new era of insecticide discovery. We are delighted to be partnered with a strong, innovative company like Chemtura that will cooperate with us in moving this technology forward.”

As part of this development deal, Chemtura’s Crop Protection division will invest more than $1 million in VENOMIX over the next two years, approximately 90 percent in cash and the balance of in-kind services to identify active molecules to be used in the products.

“Working with VENOMIX fits our strategy of partnering with universities and other organizations to develop innovative technology,” said John Westcott, Chemtura Crop Protection’s Director of Global Commercial Development. “Chemtura is optimistic and excited about this technology, which also meets our corporate goal of developing products with minimal impact on the environment.”

Chemtura Corporation, with pro forma 2005 sales of $3.9 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Additional information concerning Chemtura is available at www.chemtura.com.

VENOMIX, an agricultural biotechnology company, is developing the next generation of insecticides for an environmentally conscious 21st century. Based on a new source of toxins, these products will target novel sites of action in insects and will be safe to non-target species. The insecticides will have application in agricultural, animal health and non-crop markets.

UConn R&D is a for-profit subsidiary of the UConn Foundation that initiates new business start-ups based on innovative technologies developed by the faculty and staff. VENOMIX was started by UConn R&D in July 2005. UConn R&D’s portfolio also includes an orthodontic appliance company, an education software company, and several other projects in development. For more information on UConn R&D or VENOMIX, contact 860-676-7788 or go to www.uconnrd.com.