Symbollon to acquire Medpharm

Under the term sheet, Medpharm will be acquired for $1.5 million. Symbollon will acquire approximately 64% of the company in a stock swap for Symbollon shares and acquire an option to purchase the remainder of the company for cash. The option is exercisable at any time after the initial closing over the remainder of 2008.

The initial closing for 64% of Medpharm is expected to occur during April 2008. Symbollon’s stock shall be valued at the 20 business day weighted average of the closing price as quoted on the OTC Bulletin Board preceding the closing, not to exceed $1.42 per share. Symbollon will need additional resources in order to exercise the option and acquire the remaining 36% of Medpharm shares.