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SC Biotechnology Incubation Program Announces Capsugel As New Tenant

Contact: Clare Morris
Communications Director
803-737-0402

July 6, 2004

SC Biotechnology Incubation Program Announces New Tenant

(Greenwood, SC)--Capsugel, a division of Pfizer Inc., will lease research space
at the South Carolina Biotechnology Incubation Facility located in Greenwood to
formulate and develop innovative drug delivery systems.

The agreement, announced today by SC Bio, is the result of South Carolina's
continued commitment to support existing and emerging life science companies.
Capsugel currently has sales and manufacturing operations in Greenwood.
Research at this facility will support novel lipid insipient formulations that
enhance delivery for a broad spectrum of new pharmaceutical and neutraceuticals
products entering the market.

"This research program puts an international leader in dosage delivery in close
working relationship with emerging firms. We sense that the expertise from
Capsugel research personnel will help raise awareness of the research ongoing
in South Carolina. Capsugel is a strong supporter of the SC Bio program and
emerging pharmaceutical companies across the Palmetto State," said SC Bio CEO
Karl Kelly.

One incentive for the Capsugel expansion is the research capabilities of the SC
Bio program.

According to Linzell Harris, Vice President of Capsugel Americas, "This
research and development project is designed to identify new growth
opportunities for Capsugel. We express our thanks to South Carolina and
Greenwood for the continued partnership."

"Aggressively going after emerging segments of the economy is one of this
administration's central goals," said Governor Mark Sanford. "Clearly,
biotechnology is one of the segments we're focusing on. If you look at what
we're trying to do with the South Carolina Competitiveness Initiative--to
better target our state's economic development resources-pursuing a biotech
cluster will be a key component in our effort to bring better jobs to the
state."

"We talk about modernizing the South Carolina economy--biotechnology is the
quintessential modern global industry," said Commerce Secretary Bob Faith. "We
want to be a major player in the field, and to do that we need to work together
to make our state a place where biotech companies can thrive, whether we're
recruiting them from other areas or growing them ourselves."

Including the agreement with Capsugel, 90% of available space at the incubator
is now utilized. Other tenants of the facility include diagnostic testing and
disease prevention companies.

Capsugel is dedicated to providing a broad range of dosage delivery solutions
to the pharmaceutical, biotechnology, healthcare and dietary supplement
industries. Capsugel partners with its customers to achieve strategic and
financial objectives by offering formulation, product development and tailored
packaging solutions. Headquartered in Morris Plains, NJ, Capsugel employs more
than 2,000 people in manufacturing facilities throughout the world.

SC Bio (The South Carolina Biotechnology Incubation Program) is a
public/private not-for-profit organization composed of industry, university and
private companies collaborating to develop new life science companies in South
Carolina. SC Bio is a catalyst that aids in commercialization supporting
financial growth, process development and marketing for emerging life science
companies.

SC Bio is creating broad-based research, financing and corporate development
support for emerging and existing life science companies. They are striving to
produce a velocity of new product development unmatched in the United States.

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