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August 7, 2006 Germantown, WI USA: Cambridge Major Laboratories today announced that it is launching a new business unit aimed at bridging the gap between domestic and off-shore Full Time Equivalent (“FTE”) chemistry services. The new business unit, BudgetFTE, is based on a new business model utilizing industrial post-doctoral Ph.D.’s under the supervision of seasoned Cambridge Major managers to enable low cost, US-based FTE’s to support discovery and medicinal chemistry needs of the biotech and pharmaceutical industries. BudgetFTE is located in Cambridge Major’s Edison Drive site which has been completely renovated to accommodate small scale custom synthesis.

The new business unit has been formed in direct response to customer requests for affordable US-based FTE’s. Under the direction of Cambridge Major, BudgetFTE will provide high quality services to the discovery and medicinal chemistry arena at pricing that provides a middle ground between domestic and off-shore suppliers. The bonus is that BudgetFTE is a US-based operation which mitigates any concerns about IP leakage, project management, speed-of-response, and quality of services.

BudgetFTE will be focused strictly on FTE contracts from six months to one year time intervals to support discovery and early medicinal chemistry programs. The company will be targeting analogs, scaffolds, small libraries, and competitor compounds. As lead molecules are identified, BudgetFTE can transition the compound to Cambridge Major Laboratories for process development and scale up for GLP toxicity studies and GMP manufacture.

The business unit will be staffed initially with 10 Ph.D. scientists targeting 20+ Ph.D.’s within the first 2 full years of operation. BudgetFTE’s facility is a 13,000 square foot building with 18 hoods for chemistry and complete analytical laboratory including 300MHz Bruker NMR, HPLC’s, and GC’s.

“This model addresses the need Pharmaceutical Companies have been expressing for some time for secure and quality domestic-based services at prices comparable to overseas rates,” said Michael.W. Major, President and CEO of Cambridge Major Laboratories. “BudgetFTE eliminates all of the hidden costs and unforeseen inconveniences such extended travel, and times zone differences. Our customers have indicated that it is definitely a better alternative to offshore CROs.”

About BudgetFTE:
BudgetFTE, a division of Cambridge Major Laboratories, provides Full Time Equivalent (“FTE”) chemistry support to the pharmaceutical and biotech industries. Specializing in discovery and medicinal chemistry support, BudgetFTE provides small scale custom synthesis of analogs, scaffolds, competitor compounds, and small libraries. The business operates from a newly renovated facility near Milwaukee Wisconsin housing numerous benchtop hoods, and complete analytical laboratory.

About Cambridge Major Labs:
Cambridge Major Laboratories, Inc. is a service-based chemistry outsourcing partner to the world’s leading pharmaceutical and biotechnology companies, producing pharmaceutical intermediates, API’s, and other fine organic chemicals. Specializing in chemical process development and advanced multi-step organic synthesis, the Company operates two facilities near Milwaukee, Wisconsin including process chemistry laboratories, kilo labs, a pilot plant, and complete analytical laboratories. The Company has been FDA inspected and approved for cGMP manufacturing. Visit us at www.c-mlabs.com.

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